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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and JANUS HENDERSON GROUP PLC (JHG). 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 $1.1B, roughly 1.2× JANUS HENDERSON GROUP PLC). JANUS HENDERSON GROUP PLC runs the higher net margin — 35.3% vs 5.2%, a 30.1% gap on every dollar of revenue. On growth, JANUS HENDERSON GROUP PLC posted the faster year-over-year revenue change (61.3% vs 3.0%). JANUS HENDERSON GROUP PLC produced more free cash flow last quarter ($320.4M vs $-13.6M). Over the past eight quarters, JANUS HENDERSON GROUP PLC's revenue compounded faster (43.9% 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.
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
ASO vs JHG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.1B |
| Net Profit | $71.6M | $403.2M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | 42.7% |
| Net Margin | 5.2% | 35.3% |
| Revenue YoY | 3.0% | 61.3% |
| Net Profit YoY | 8.8% | 231.0% |
| EPS (diluted) | $1.05 | $2.59 |
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 | $1.1B | ||
| Q3 25 | $1.6B | $700.4M | ||
| Q2 25 | $1.4B | $633.2M | ||
| Q1 25 | $1.7B | $621.4M | ||
| Q4 24 | $1.3B | $708.3M | ||
| Q3 24 | $1.5B | $624.8M | ||
| Q2 24 | $1.4B | $588.4M | ||
| Q1 24 | $1.8B | $551.7M |
| Q4 25 | $71.6M | $403.2M | ||
| Q3 25 | $125.4M | $142.1M | ||
| Q2 25 | $46.1M | $149.9M | ||
| Q1 25 | $133.6M | $120.7M | ||
| Q4 24 | $65.8M | $121.8M | ||
| Q3 24 | $142.6M | $27.3M | ||
| Q2 24 | $76.5M | $129.7M | ||
| Q1 24 | $168.2M | $130.1M |
| 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% | 42.7% | ||
| Q3 25 | 10.8% | 24.6% | ||
| Q2 25 | 5.1% | 25.9% | ||
| Q1 25 | 9.2% | 24.7% | ||
| Q4 24 | 6.8% | 27.9% | ||
| Q3 24 | 12.3% | 26.4% | ||
| Q2 24 | 7.5% | 27.9% | ||
| Q1 24 | 11.4% | 21.6% |
| Q4 25 | 5.2% | 35.3% | ||
| Q3 25 | 7.8% | 20.3% | ||
| Q2 25 | 3.4% | 23.7% | ||
| Q1 25 | 8.0% | 19.4% | ||
| Q4 24 | 4.9% | 17.2% | ||
| Q3 24 | 9.2% | 4.4% | ||
| Q2 24 | 5.6% | 22.0% | ||
| Q1 24 | 9.4% | 23.6% |
| Q4 25 | $1.05 | $2.59 | ||
| Q3 25 | $1.85 | $0.92 | ||
| Q2 25 | $0.68 | $0.95 | ||
| Q1 25 | $1.85 | $0.77 | ||
| Q4 24 | $0.92 | $0.77 | ||
| Q3 24 | $1.95 | $0.17 | ||
| Q2 24 | $1.01 | $0.81 | ||
| 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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $5.1B |
| Total Assets | $5.4B | $8.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $1.6B | ||
| Q3 25 | $300.9M | $1.4B | ||
| Q2 25 | $285.1M | $1.3B | ||
| Q1 25 | $288.9M | $1.4B | ||
| Q4 24 | $296.0M | $1.6B | ||
| Q3 24 | $324.6M | $1.8B | ||
| Q2 24 | $378.1M | $1.3B | ||
| Q1 24 | $347.9M | $1.1B |
| Q4 25 | $2.1B | $5.1B | ||
| Q3 25 | $2.1B | $4.8B | ||
| Q2 25 | $1.9B | $4.8B | ||
| Q1 25 | $2.0B | $4.7B | ||
| Q4 24 | $2.0B | $4.6B | ||
| Q3 24 | $2.0B | $4.6B | ||
| Q2 24 | $1.9B | $4.5B | ||
| Q1 24 | $2.0B | $4.4B |
| Q4 25 | $5.4B | $8.3B | ||
| Q3 25 | $5.3B | $7.6B | ||
| Q2 25 | $5.2B | $7.5B | ||
| Q1 25 | $4.9B | $7.1B | ||
| Q4 24 | $5.1B | $7.0B | ||
| Q3 24 | $4.9B | $7.3B | ||
| Q2 24 | $4.9B | $6.4B | ||
| Q1 24 | $4.7B | $6.3B |
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 | $322.7M |
| Free Cash FlowOCF − Capex | $-13.6M | $320.4M |
| FCF MarginFCF / Revenue | -1.0% | 28.0% |
| Capex IntensityCapex / Revenue | 4.5% | 0.2% |
| Cash ConversionOCF / Net Profit | 0.68× | 0.80× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $710.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $322.7M | ||
| Q3 25 | $78.6M | $258.8M | ||
| Q2 25 | $157.5M | $135.2M | ||
| Q1 25 | $140.2M | $2.8M | ||
| Q4 24 | $96.9M | $247.3M | ||
| Q3 24 | $91.3M | $228.5M | ||
| Q2 24 | $199.7M | $223.8M | ||
| Q1 24 | $234.7M | $-5.0M |
| Q4 25 | $-13.6M | $320.4M | ||
| Q3 25 | $21.8M | $256.4M | ||
| Q2 25 | $106.6M | $133.2M | ||
| Q1 25 | $76.4M | $900.0K | ||
| Q4 24 | $34.4M | $243.5M | ||
| Q3 24 | $50.1M | $225.9M | ||
| Q2 24 | $167.4M | $221.9M | ||
| Q1 24 | $178.9M | $-6.8M |
| Q4 25 | -1.0% | 28.0% | ||
| Q3 25 | 1.4% | 36.6% | ||
| Q2 25 | 7.9% | 21.0% | ||
| Q1 25 | 4.6% | 0.1% | ||
| Q4 24 | 2.6% | 34.4% | ||
| Q3 24 | 3.2% | 36.2% | ||
| Q2 24 | 12.3% | 37.7% | ||
| Q1 24 | 10.0% | -1.2% |
| Q4 25 | 4.5% | 0.2% | ||
| Q3 25 | 3.5% | 0.3% | ||
| Q2 25 | 3.8% | 0.3% | ||
| Q1 25 | 3.8% | 0.3% | ||
| Q4 24 | 4.6% | 0.5% | ||
| Q3 24 | 2.7% | 0.4% | ||
| Q2 24 | 2.4% | 0.3% | ||
| Q1 24 | 3.1% | 0.3% |
| Q4 25 | 0.68× | 0.80× | ||
| Q3 25 | 0.63× | 1.82× | ||
| Q2 25 | 3.42× | 0.90× | ||
| Q1 25 | 1.05× | 0.02× | ||
| Q4 24 | 1.47× | 2.03× | ||
| Q3 24 | 0.64× | 8.37× | ||
| Q2 24 | 2.61× | 1.73× | ||
| Q1 24 | 1.40× | -0.04× |
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% |
JHG
| Investment Advice | $585.2M | 51% |
| Investment Performance | $425.8M | 37% |
| Other | $76.4M | 7% |
