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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and DONALDSON Co INC (DCI). 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 $935.4M, roughly 1.5× DONALDSON Co INC). DONALDSON Co INC runs the higher net margin — 12.2% vs 5.2%, a 7.0% gap on every dollar of revenue. On growth, DONALDSON Co INC posted the faster year-over-year revenue change (3.9% vs 3.0%). DONALDSON Co INC produced more free cash flow last quarter ($111.2M vs $-13.6M). Over the past eight quarters, DONALDSON Co INC's revenue compounded faster (3.3% 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.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
ASO vs DCI — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $935.4M |
| Net Profit | $71.6M | $113.9M |
| Gross Margin | 35.7% | 35.2% |
| Operating Margin | 7.3% | 16.0% |
| Net Margin | 5.2% | 12.2% |
| Revenue YoY | 3.0% | 3.9% |
| Net Profit YoY | 8.8% | 15.1% |
| EPS (diluted) | $1.05 | $0.97 |
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 | $935.4M | ||
| Q3 25 | $1.6B | $980.7M | ||
| Q2 25 | $1.4B | $940.1M | ||
| Q1 25 | $1.7B | $870.0M | ||
| Q4 24 | $1.3B | $900.1M | ||
| Q3 24 | $1.5B | $935.4M | ||
| Q2 24 | $1.4B | $927.9M | ||
| Q1 24 | $1.8B | $876.7M |
| Q4 25 | $71.6M | $113.9M | ||
| Q3 25 | $125.4M | $114.3M | ||
| Q2 25 | $46.1M | $57.8M | ||
| Q1 25 | $133.6M | $95.9M | ||
| Q4 24 | $65.8M | $99.0M | ||
| Q3 24 | $142.6M | $109.7M | ||
| Q2 24 | $76.5M | $113.5M | ||
| Q1 24 | $168.2M | $98.7M |
| Q4 25 | 35.7% | 35.2% | ||
| Q3 25 | 36.0% | 34.5% | ||
| Q2 25 | 34.0% | 34.2% | ||
| Q1 25 | 32.2% | 35.2% | ||
| Q4 24 | 34.0% | 35.5% | ||
| Q3 24 | 36.1% | 35.8% | ||
| Q2 24 | 33.4% | 35.6% | ||
| Q1 24 | 33.3% | 35.2% |
| Q4 25 | 7.3% | 16.0% | ||
| Q3 25 | 10.8% | 15.5% | ||
| Q2 25 | 5.1% | 9.3% | ||
| Q1 25 | 9.2% | 14.4% | ||
| Q4 24 | 6.8% | 14.5% | ||
| Q3 24 | 12.3% | 15.6% | ||
| Q2 24 | 7.5% | 15.5% | ||
| Q1 24 | 11.4% | 14.8% |
| Q4 25 | 5.2% | 12.2% | ||
| Q3 25 | 7.8% | 11.7% | ||
| Q2 25 | 3.4% | 6.1% | ||
| Q1 25 | 8.0% | 11.0% | ||
| Q4 24 | 4.9% | 11.0% | ||
| Q3 24 | 9.2% | 11.7% | ||
| Q2 24 | 5.6% | 12.2% | ||
| Q1 24 | 9.4% | 11.3% |
| Q4 25 | $1.05 | $0.97 | ||
| Q3 25 | $1.85 | $0.97 | ||
| Q2 25 | $0.68 | $0.48 | ||
| Q1 25 | $1.85 | $0.79 | ||
| Q4 24 | $0.92 | $0.81 | ||
| Q3 24 | $1.95 | $0.90 | ||
| Q2 24 | $1.01 | $0.92 | ||
| Q1 24 | $2.19 | $0.81 |
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 | $210.7M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $2.1B | $1.5B |
| Total Assets | $5.4B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $210.7M | ||
| Q3 25 | $300.9M | $180.4M | ||
| Q2 25 | $285.1M | $178.5M | ||
| Q1 25 | $288.9M | $189.1M | ||
| Q4 24 | $296.0M | $221.2M | ||
| Q3 24 | $324.6M | $232.7M | ||
| Q2 24 | $378.1M | $223.7M | ||
| Q1 24 | $347.9M | $193.8M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $630.4M | ||
| Q2 25 | — | $638.8M | ||
| Q1 25 | — | $514.7M | ||
| Q4 24 | — | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M | ||
| Q1 24 | — | $352.0M |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $2.0B | $1.5B | ||
| Q3 24 | $2.0B | $1.5B | ||
| Q2 24 | $1.9B | $1.5B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | $5.4B | $3.0B | ||
| Q3 25 | $5.3B | $3.0B | ||
| Q2 25 | $5.2B | $3.0B | ||
| Q1 25 | $4.9B | $3.0B | ||
| Q4 24 | $5.1B | $3.0B | ||
| Q3 24 | $4.9B | $2.9B | ||
| Q2 24 | $4.9B | $2.9B | ||
| Q1 24 | $4.7B | $2.8B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.26× |
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 | $125.4M |
| Free Cash FlowOCF − Capex | $-13.6M | $111.2M |
| FCF MarginFCF / Revenue | -1.0% | 11.9% |
| Capex IntensityCapex / Revenue | 4.5% | 1.5% |
| Cash ConversionOCF / Net Profit | 0.68× | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $125.4M | ||
| Q3 25 | $78.6M | $167.8M | ||
| Q2 25 | $157.5M | $87.7M | ||
| Q1 25 | $140.2M | $90.4M | ||
| Q4 24 | $96.9M | $72.9M | ||
| Q3 24 | $91.3M | $126.0M | ||
| Q2 24 | $199.7M | $141.5M | ||
| Q1 24 | $234.7M | $87.0M |
| Q4 25 | $-13.6M | $111.2M | ||
| Q3 25 | $21.8M | $147.5M | ||
| Q2 25 | $106.6M | $73.0M | ||
| Q1 25 | $76.4M | $71.5M | ||
| Q4 24 | $34.4M | $47.9M | ||
| Q3 24 | $50.1M | $106.2M | ||
| Q2 24 | $167.4M | $120.2M | ||
| Q1 24 | $178.9M | $65.7M |
| Q4 25 | -1.0% | 11.9% | ||
| Q3 25 | 1.4% | 15.0% | ||
| Q2 25 | 7.9% | 7.8% | ||
| Q1 25 | 4.6% | 8.2% | ||
| Q4 24 | 2.6% | 5.3% | ||
| Q3 24 | 3.2% | 11.4% | ||
| Q2 24 | 12.3% | 13.0% | ||
| Q1 24 | 10.0% | 7.5% |
| Q4 25 | 4.5% | 1.5% | ||
| Q3 25 | 3.5% | 2.1% | ||
| Q2 25 | 3.8% | 1.6% | ||
| Q1 25 | 3.8% | 2.2% | ||
| Q4 24 | 4.6% | 2.8% | ||
| Q3 24 | 2.7% | 2.1% | ||
| Q2 24 | 2.4% | 2.3% | ||
| Q1 24 | 3.1% | 2.4% |
| Q4 25 | 0.68× | 1.10× | ||
| Q3 25 | 0.63× | 1.47× | ||
| Q2 25 | 3.42× | 1.52× | ||
| Q1 25 | 1.05× | 0.94× | ||
| Q4 24 | 1.47× | 0.74× | ||
| Q3 24 | 0.64× | 1.15× | ||
| Q2 24 | 2.61× | 1.25× | ||
| Q1 24 | 1.40× | 0.88× |
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% |
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
