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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and Global Business Travel Group, Inc. (GBTG). 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 $792.0M, roughly 1.7× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 5.2%, a 5.3% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 3.0%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-13.6M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% 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.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
ASO vs GBTG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $792.0M |
| Net Profit | $71.6M | $83.0M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | 3.7% |
| Net Margin | 5.2% | 10.5% |
| Revenue YoY | 3.0% | 34.0% |
| Net Profit YoY | 8.8% | 692.9% |
| EPS (diluted) | $1.05 | $0.16 |
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 | $792.0M | ||
| Q3 25 | $1.6B | $674.0M | ||
| Q2 25 | $1.4B | $631.0M | ||
| Q1 25 | $1.7B | $621.0M | ||
| Q4 24 | $1.3B | $591.0M | ||
| Q3 24 | $1.5B | $597.0M | ||
| Q2 24 | $1.4B | $625.0M | ||
| Q1 24 | $1.8B | $610.0M |
| Q4 25 | $71.6M | $83.0M | ||
| Q3 25 | $125.4M | $-62.0M | ||
| Q2 25 | $46.1M | $15.0M | ||
| Q1 25 | $133.6M | $75.0M | ||
| Q4 24 | $65.8M | $-14.0M | ||
| Q3 24 | $142.6M | $-128.0M | ||
| Q2 24 | $76.5M | $27.0M | ||
| Q1 24 | $168.2M | $-19.0M |
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.0% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.1% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.3% | — |
| Q4 25 | 7.3% | 3.7% | ||
| Q3 25 | 10.8% | 1.8% | ||
| Q2 25 | 5.1% | 5.4% | ||
| Q1 25 | 9.2% | 8.9% | ||
| Q4 24 | 6.8% | 5.1% | ||
| Q3 24 | 12.3% | 4.5% | ||
| Q2 24 | 7.5% | 6.7% | ||
| Q1 24 | 11.4% | 2.6% |
| Q4 25 | 5.2% | 10.5% | ||
| Q3 25 | 7.8% | -9.2% | ||
| Q2 25 | 3.4% | 2.4% | ||
| Q1 25 | 8.0% | 12.1% | ||
| Q4 24 | 4.9% | -2.4% | ||
| Q3 24 | 9.2% | -21.4% | ||
| Q2 24 | 5.6% | 4.3% | ||
| Q1 24 | 9.4% | -3.1% |
| Q4 25 | $1.05 | $0.16 | ||
| Q3 25 | $1.85 | $-0.13 | ||
| Q2 25 | $0.68 | $0.03 | ||
| Q1 25 | $1.85 | $0.16 | ||
| Q4 24 | $0.92 | $-0.04 | ||
| Q3 24 | $1.95 | $-0.28 | ||
| Q2 24 | $1.01 | $0.06 | ||
| Q1 24 | $2.19 | $-0.04 |
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 | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $2.1B | $1.6B |
| Total Assets | $5.4B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $434.0M | ||
| Q3 25 | $300.9M | $427.0M | ||
| Q2 25 | $285.1M | $601.0M | ||
| Q1 25 | $288.9M | $552.0M | ||
| Q4 24 | $296.0M | $536.0M | ||
| Q3 24 | $324.6M | $524.0M | ||
| Q2 24 | $378.1M | $515.0M | ||
| Q1 24 | $347.9M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $2.0B | $1.2B |
| Q4 25 | $5.4B | $4.9B | ||
| Q3 25 | $5.3B | $4.8B | ||
| Q2 25 | $5.2B | $3.9B | ||
| Q1 25 | $4.9B | $3.8B | ||
| Q4 24 | $5.1B | $3.6B | ||
| Q3 24 | $4.9B | $3.8B | ||
| Q2 24 | $4.9B | $3.8B | ||
| Q1 24 | $4.7B | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $52.0M |
| Free Cash FlowOCF − Capex | $-13.6M | $13.0M |
| FCF MarginFCF / Revenue | -1.0% | 1.6% |
| Capex IntensityCapex / Revenue | 4.5% | 4.9% |
| Cash ConversionOCF / Net Profit | 0.68× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $52.0M | ||
| Q3 25 | $78.6M | $71.0M | ||
| Q2 25 | $157.5M | $57.0M | ||
| Q1 25 | $140.2M | $53.0M | ||
| Q4 24 | $96.9M | $65.0M | ||
| Q3 24 | $91.3M | $85.0M | ||
| Q2 24 | $199.7M | $73.0M | ||
| Q1 24 | $234.7M | $49.0M |
| Q4 25 | $-13.6M | $13.0M | ||
| Q3 25 | $21.8M | $38.0M | ||
| Q2 25 | $106.6M | $27.0M | ||
| Q1 25 | $76.4M | $26.0M | ||
| Q4 24 | $34.4M | $33.0M | ||
| Q3 24 | $50.1M | $59.0M | ||
| Q2 24 | $167.4M | $49.0M | ||
| Q1 24 | $178.9M | $24.0M |
| Q4 25 | -1.0% | 1.6% | ||
| Q3 25 | 1.4% | 5.6% | ||
| Q2 25 | 7.9% | 4.3% | ||
| Q1 25 | 4.6% | 4.2% | ||
| Q4 24 | 2.6% | 5.6% | ||
| Q3 24 | 3.2% | 9.9% | ||
| Q2 24 | 12.3% | 7.8% | ||
| Q1 24 | 10.0% | 3.9% |
| Q4 25 | 4.5% | 4.9% | ||
| Q3 25 | 3.5% | 4.9% | ||
| Q2 25 | 3.8% | 4.8% | ||
| Q1 25 | 3.8% | 4.3% | ||
| Q4 24 | 4.6% | 5.4% | ||
| Q3 24 | 2.7% | 4.4% | ||
| Q2 24 | 2.4% | 3.8% | ||
| Q1 24 | 3.1% | 4.1% |
| Q4 25 | 0.68× | 0.63× | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 3.42× | 3.80× | ||
| Q1 25 | 1.05× | 0.71× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 2.61× | 2.70× | ||
| 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% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
