vs
Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and Barnes & Noble Education, Inc. (BNED). Click either name above to swap in a different company.
Academy Sports & Outdoors, Inc. is the larger business by last-quarter revenue ($1.4B vs $598.2M, roughly 2.3× Barnes & Noble Education, Inc.). Academy Sports & Outdoors, Inc. runs the higher net margin — 5.2% vs 4.2%, a 1.0% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs 3.0%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $-13.6M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs -12.2%).
Academy Sports + Outdoors is an American sporting-goods store chain with corporate offices in the Katy Distribution Center in unincorporated western Harris County, Texas, United States, near Katy and west of Houston. For 74 years, it was a privately held company owned by the Gochman family, until its May 2011 acquisition by Kohlberg Kravis Roberts. In October 2020, it was listed on NASDAQ.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
ASO vs BNED — Head-to-Head
Income Statement — Q4 2026 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $598.2M |
| Net Profit | $71.6M | $25.0M |
| Gross Margin | 35.7% | 21.7% |
| Operating Margin | 7.3% | 6.8% |
| Net Margin | 5.2% | 4.2% |
| Revenue YoY | 3.0% | 6.9% |
| Net Profit YoY | 8.8% | -49.7% |
| EPS (diluted) | $1.05 | $0.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $598.2M | ||
| Q3 25 | $1.6B | $274.2M | ||
| Q2 25 | $1.4B | $233.0M | ||
| Q1 25 | $1.7B | $419.7M | ||
| Q4 24 | $1.3B | $559.7M | ||
| Q3 24 | $1.5B | $250.9M | ||
| Q2 24 | $1.4B | $192.7M | ||
| Q1 24 | $1.8B | $415.4M |
| Q4 25 | $71.6M | $25.0M | ||
| Q3 25 | $125.4M | $-18.3M | ||
| Q2 25 | $46.1M | $-23.0M | ||
| Q1 25 | $133.6M | $17.9M | ||
| Q4 24 | $65.8M | $43.2M | ||
| Q3 24 | $142.6M | $-103.9M | ||
| Q2 24 | $76.5M | $-41.9M | ||
| Q1 24 | $168.2M | $-9.3M |
| Q4 25 | 35.7% | 21.7% | ||
| Q3 25 | 36.0% | 20.2% | ||
| Q2 25 | 34.0% | 30.3% | ||
| Q1 25 | 32.2% | 22.3% | ||
| Q4 24 | 34.0% | 23.0% | ||
| Q3 24 | 36.1% | 17.9% | ||
| Q2 24 | 33.4% | 28.7% | ||
| Q1 24 | 33.3% | 24.2% |
| Q4 25 | 7.3% | 6.8% | ||
| Q3 25 | 10.8% | -8.4% | ||
| Q2 25 | 5.1% | -4.9% | ||
| Q1 25 | 9.2% | 4.5% | ||
| Q4 24 | 6.8% | 8.4% | ||
| Q3 24 | 12.3% | -15.4% | ||
| Q2 24 | 7.5% | -16.3% | ||
| Q1 24 | 11.4% | 0.4% |
| Q4 25 | 5.2% | 4.2% | ||
| Q3 25 | 7.8% | -6.7% | ||
| Q2 25 | 3.4% | -9.9% | ||
| Q1 25 | 8.0% | 4.3% | ||
| Q4 24 | 4.9% | 7.7% | ||
| Q3 24 | 9.2% | -41.4% | ||
| Q2 24 | 5.6% | -21.7% | ||
| Q1 24 | 9.4% | -2.2% |
| Q4 25 | $1.05 | $0.72 | ||
| Q3 25 | $1.85 | $-0.54 | ||
| Q2 25 | $0.68 | $2.97 | ||
| Q1 25 | $1.85 | $0.59 | ||
| Q4 24 | $0.92 | $1.63 | ||
| Q3 24 | $1.95 | $-7.69 | ||
| Q2 24 | $1.01 | $-15.68 | ||
| Q1 24 | $2.19 | $-3.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $289.5M | $11.7M |
| Total DebtLower is stronger | — | $122.5M |
| Stockholders' EquityBook value | $2.1B | $283.2M |
| Total Assets | $5.4B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $11.7M | ||
| Q3 25 | $300.9M | $7.3M | ||
| Q2 25 | $285.1M | $9.1M | ||
| Q1 25 | $288.9M | $9.2M | ||
| Q4 24 | $296.0M | $11.6M | ||
| Q3 24 | $324.6M | $8.2M | ||
| Q2 24 | $378.1M | $10.5M | ||
| Q1 24 | $347.9M | $8.1M |
| Q4 25 | — | $122.5M | ||
| Q3 25 | — | $170.0M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $141.2M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $221.9M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $30.2M |
| Q4 25 | $2.1B | $283.2M | ||
| Q3 25 | $2.1B | $256.5M | ||
| Q2 25 | $1.9B | $272.2M | ||
| Q1 25 | $2.0B | $292.9M | ||
| Q4 24 | $2.0B | $211.4M | ||
| Q3 24 | $2.0B | $149.8M | ||
| Q2 24 | $1.9B | $80.4M | ||
| Q1 24 | $2.0B | $121.5M |
| Q4 25 | $5.4B | $1.1B | ||
| Q3 25 | $5.3B | $950.8M | ||
| Q2 25 | $5.2B | $790.3M | ||
| Q1 25 | $4.9B | $1.1B | ||
| Q4 24 | $5.1B | $1.0B | ||
| Q3 24 | $4.9B | $973.2M | ||
| Q2 24 | $4.9B | $909.9M | ||
| Q1 24 | $4.7B | $1.2B |
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 2.44× | ||
| Q1 24 | — | 0.25× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $49.0M | $66.2M |
| Free Cash FlowOCF − Capex | $-13.6M | $61.9M |
| FCF MarginFCF / Revenue | -1.0% | 10.4% |
| Capex IntensityCapex / Revenue | 4.5% | 0.7% |
| Cash ConversionOCF / Net Profit | 0.68× | 2.65× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $-4.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $66.2M | ||
| Q3 25 | $78.6M | $-67.6M | ||
| Q2 25 | $157.5M | $52.6M | ||
| Q1 25 | $140.2M | $-41.9M | ||
| Q4 24 | $96.9M | $47.4M | ||
| Q3 24 | $91.3M | $-143.5M | ||
| Q2 24 | $199.7M | $81.7M | ||
| Q1 24 | $234.7M | $-35.8M |
| Q4 25 | $-13.6M | $61.9M | ||
| Q3 25 | $21.8M | $-71.3M | ||
| Q2 25 | $106.6M | $49.5M | ||
| Q1 25 | $76.4M | $-44.7M | ||
| Q4 24 | $34.4M | $44.4M | ||
| Q3 24 | $50.1M | $-147.5M | ||
| Q2 24 | $167.4M | $79.1M | ||
| Q1 24 | $178.9M | $-39.0M |
| Q4 25 | -1.0% | 10.4% | ||
| Q3 25 | 1.4% | -26.0% | ||
| Q2 25 | 7.9% | 21.3% | ||
| Q1 25 | 4.6% | -10.7% | ||
| Q4 24 | 2.6% | 7.9% | ||
| Q3 24 | 3.2% | -58.8% | ||
| Q2 24 | 12.3% | 41.1% | ||
| Q1 24 | 10.0% | -9.4% |
| Q4 25 | 4.5% | 0.7% | ||
| Q3 25 | 3.5% | 1.4% | ||
| Q2 25 | 3.8% | 1.3% | ||
| Q1 25 | 3.8% | 0.7% | ||
| Q4 24 | 4.6% | 0.5% | ||
| Q3 24 | 2.7% | 1.6% | ||
| Q2 24 | 2.4% | 1.4% | ||
| Q1 24 | 3.1% | 0.8% |
| Q4 25 | 0.68× | 2.65× | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.05× | -2.34× | ||
| Q4 24 | 1.47× | 1.10× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 2.61× | — | ||
| Q1 24 | 1.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
