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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and ESAB Corp (ESAB). 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 $727.8M, roughly 1.9× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 5.2%, a 2.4% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 3.0%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $-13.6M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% 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.
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
ASO vs ESAB — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $727.8M |
| Net Profit | $71.6M | $54.8M |
| Gross Margin | 35.7% | 37.0% |
| Operating Margin | 7.3% | 14.6% |
| Net Margin | 5.2% | 7.5% |
| Revenue YoY | 3.0% | 8.5% |
| Net Profit YoY | 8.8% | 2.1% |
| EPS (diluted) | $1.05 | $0.90 |
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 | $727.8M | ||
| Q3 25 | $1.6B | $715.6M | ||
| Q2 25 | $1.4B | $678.1M | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.3B | $670.8M | ||
| Q3 24 | $1.5B | $673.3M | ||
| Q2 24 | $1.4B | $707.1M | ||
| Q1 24 | $1.8B | $689.7M |
| Q4 25 | $71.6M | $54.8M | ||
| Q3 25 | $125.4M | $66.9M | ||
| Q2 25 | $46.1M | $67.4M | ||
| Q1 25 | $133.6M | — | ||
| Q4 24 | $65.8M | $53.7M | ||
| Q3 24 | $142.6M | $68.2M | ||
| Q2 24 | $76.5M | $82.9M | ||
| Q1 24 | $168.2M | $60.0M |
| Q4 25 | 35.7% | 37.0% | ||
| Q3 25 | 36.0% | 37.2% | ||
| Q2 25 | 34.0% | 37.6% | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 34.0% | 38.5% | ||
| Q3 24 | 36.1% | 37.7% | ||
| Q2 24 | 33.4% | 38.2% | ||
| Q1 24 | 33.3% | 37.0% |
| Q4 25 | 7.3% | 14.6% | ||
| Q3 25 | 10.8% | 15.2% | ||
| Q2 25 | 5.1% | 16.2% | ||
| Q1 25 | 9.2% | — | ||
| Q4 24 | 6.8% | 16.6% | ||
| Q3 24 | 12.3% | 15.7% | ||
| Q2 24 | 7.5% | 16.9% | ||
| Q1 24 | 11.4% | 16.0% |
| Q4 25 | 5.2% | 7.5% | ||
| Q3 25 | 7.8% | 9.3% | ||
| Q2 25 | 3.4% | 9.9% | ||
| Q1 25 | 8.0% | — | ||
| Q4 24 | 4.9% | 8.0% | ||
| Q3 24 | 9.2% | 10.1% | ||
| Q2 24 | 5.6% | 11.7% | ||
| Q1 24 | 9.4% | 8.7% |
| Q4 25 | $1.05 | $0.90 | ||
| Q3 25 | $1.85 | $1.09 | ||
| Q2 25 | $0.68 | $1.10 | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $0.92 | $0.87 | ||
| Q3 24 | $1.95 | $1.11 | ||
| Q2 24 | $1.01 | $1.35 | ||
| Q1 24 | $2.19 | $0.98 |
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 | $218.2M |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $2.1B | $2.1B |
| Total Assets | $5.4B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $218.2M | ||
| Q3 25 | $300.9M | $258.2M | ||
| Q2 25 | $285.1M | $291.3M | ||
| Q1 25 | $288.9M | — | ||
| Q4 24 | $296.0M | $249.4M | ||
| Q3 24 | $324.6M | $253.7M | ||
| Q2 24 | $378.1M | $228.5M | ||
| Q1 24 | $347.9M | $76.5M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $992.8M |
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | $1.8B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $1.9B | $1.7B | ||
| Q1 24 | $2.0B | $1.6B |
| Q4 25 | $5.4B | $4.9B | ||
| Q3 25 | $5.3B | $4.4B | ||
| Q2 25 | $5.2B | $4.2B | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.1B | $4.0B | ||
| Q3 24 | $4.9B | $4.1B | ||
| Q2 24 | $4.9B | $4.0B | ||
| Q1 24 | $4.7B | $3.8B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.61× |
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 | $81.5M |
| Free Cash FlowOCF − Capex | $-13.6M | $70.3M |
| FCF MarginFCF / Revenue | -1.0% | 9.7% |
| Capex IntensityCapex / Revenue | 4.5% | 1.5% |
| Cash ConversionOCF / Net Profit | 0.68× | 1.49× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $238.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $81.5M | ||
| Q3 25 | $78.6M | $46.6M | ||
| Q2 25 | $157.5M | $35.4M | ||
| Q1 25 | $140.2M | — | ||
| Q4 24 | $96.9M | $126.9M | ||
| Q3 24 | $91.3M | $101.0M | ||
| Q2 24 | $199.7M | $83.0M | ||
| Q1 24 | $234.7M | $44.5M |
| Q4 25 | $-13.6M | $70.3M | ||
| Q3 25 | $21.8M | $37.4M | ||
| Q2 25 | $106.6M | $28.1M | ||
| Q1 25 | $76.4M | — | ||
| Q4 24 | $34.4M | $102.2M | ||
| Q3 24 | $50.1M | $90.4M | ||
| Q2 24 | $167.4M | $74.0M | ||
| Q1 24 | $178.9M | $37.1M |
| Q4 25 | -1.0% | 9.7% | ||
| Q3 25 | 1.4% | 5.2% | ||
| Q2 25 | 7.9% | 4.1% | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 2.6% | 15.2% | ||
| Q3 24 | 3.2% | 13.4% | ||
| Q2 24 | 12.3% | 10.5% | ||
| Q1 24 | 10.0% | 5.4% |
| Q4 25 | 4.5% | 1.5% | ||
| Q3 25 | 3.5% | 1.3% | ||
| Q2 25 | 3.8% | 1.1% | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 4.6% | 3.7% | ||
| Q3 24 | 2.7% | 1.6% | ||
| Q2 24 | 2.4% | 1.3% | ||
| Q1 24 | 3.1% | 1.1% |
| Q4 25 | 0.68× | 1.49× | ||
| Q3 25 | 0.63× | 0.70× | ||
| Q2 25 | 3.42× | 0.53× | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.47× | 2.36× | ||
| Q3 24 | 0.64× | 1.48× | ||
| Q2 24 | 2.61× | 1.00× | ||
| Q1 24 | 1.40× | 0.74× |
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% |
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
