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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.4B, roughly 1.4× Academy Sports & Outdoors, Inc.). KeyCorp runs the higher net margin — 25.4% vs 5.2%, a 20.3% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 3.0%). KeyCorp produced more free cash flow last quarter ($2.1B vs $-13.6M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% 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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
ASO vs KEY — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $2.0B |
| Net Profit | $71.6M | $510.0M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | 32.3% |
| Net Margin | 5.2% | 25.4% |
| Revenue YoY | 3.0% | 131.8% |
| Net Profit YoY | 8.8% | 309.0% |
| EPS (diluted) | $1.05 | $0.43 |
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 | $2.0B | ||
| Q3 25 | $1.6B | $1.9B | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.7B | $1.8B | ||
| Q4 24 | $1.3B | $865.0M | ||
| Q3 24 | $1.5B | $695.0M | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.8B | $1.5B |
| Q4 25 | $71.6M | $510.0M | ||
| Q3 25 | $125.4M | $489.0M | ||
| Q2 25 | $46.1M | $425.0M | ||
| Q1 25 | $133.6M | $405.0M | ||
| Q4 24 | $65.8M | $-244.0M | ||
| Q3 24 | $142.6M | $-410.0M | ||
| Q2 24 | $76.5M | $274.0M | ||
| Q1 24 | $168.2M | $219.0M |
| 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% | 32.3% | ||
| Q3 25 | 10.8% | 31.8% | ||
| Q2 25 | 5.1% | 29.3% | ||
| Q1 25 | 9.2% | 29.0% | ||
| Q4 24 | 6.8% | -92.6% | ||
| Q3 24 | 12.3% | -72.8% | ||
| Q2 24 | 7.5% | 22.0% | ||
| Q1 24 | 11.4% | 18.1% |
| Q4 25 | 5.2% | 25.4% | ||
| Q3 25 | 7.8% | 25.8% | ||
| Q2 25 | 3.4% | 23.1% | ||
| Q1 25 | 8.0% | 22.8% | ||
| Q4 24 | 4.9% | -54.7% | ||
| Q3 24 | 9.2% | -59.0% | ||
| Q2 24 | 5.6% | 18.0% | ||
| Q1 24 | 9.4% | 14.3% |
| Q4 25 | $1.05 | $0.43 | ||
| Q3 25 | $1.85 | $0.41 | ||
| Q2 25 | $0.68 | $0.35 | ||
| Q1 25 | $1.85 | $0.33 | ||
| Q4 24 | $0.92 | $-0.30 | ||
| Q3 24 | $1.95 | $-0.47 | ||
| Q2 24 | $1.01 | $0.25 | ||
| Q1 24 | $2.19 | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | — | $9.9B |
| Stockholders' EquityBook value | $2.1B | $20.4B |
| Total Assets | $5.4B | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $10.2B | ||
| Q3 25 | $300.9M | $13.3B | ||
| Q2 25 | $285.1M | $11.6B | ||
| Q1 25 | $288.9M | $15.3B | ||
| Q4 24 | $296.0M | $17.5B | ||
| Q3 24 | $324.6M | $22.8B | ||
| Q2 24 | $378.1M | $15.5B | ||
| Q1 24 | $347.9M | $13.2B |
| Q4 25 | — | $9.9B | ||
| Q3 25 | — | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $15.7B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $20.8B |
| Q4 25 | $2.1B | $20.4B | ||
| Q3 25 | $2.1B | $20.1B | ||
| Q2 25 | $1.9B | $19.5B | ||
| Q1 25 | $2.0B | $19.0B | ||
| Q4 24 | $2.0B | $18.2B | ||
| Q3 24 | $2.0B | $16.9B | ||
| Q2 24 | $1.9B | $14.8B | ||
| Q1 24 | $2.0B | $14.5B |
| Q4 25 | $5.4B | $184.4B | ||
| Q3 25 | $5.3B | $187.4B | ||
| Q2 25 | $5.2B | $185.5B | ||
| Q1 25 | $4.9B | $188.7B | ||
| Q4 24 | $5.1B | $187.2B | ||
| Q3 24 | $4.9B | $189.8B | ||
| Q2 24 | $4.9B | $187.4B | ||
| Q1 24 | $4.7B | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | $-13.6M | $2.1B |
| FCF MarginFCF / Revenue | -1.0% | 104.8% |
| Capex IntensityCapex / Revenue | 4.5% | 5.3% |
| Cash ConversionOCF / Net Profit | 0.68× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $2.2B | ||
| Q3 25 | $78.6M | $396.0M | ||
| Q2 25 | $157.5M | $1.2B | ||
| Q1 25 | $140.2M | $-140.0M | ||
| Q4 24 | $96.9M | $664.0M | ||
| Q3 24 | $91.3M | $-1.2B | ||
| Q2 24 | $199.7M | $-217.0M | ||
| Q1 24 | $234.7M | $359.0M |
| Q4 25 | $-13.6M | $2.1B | ||
| Q3 25 | $21.8M | $367.0M | ||
| Q2 25 | $106.6M | $1.2B | ||
| Q1 25 | $76.4M | $-150.0M | ||
| Q4 24 | $34.4M | $599.0M | ||
| Q3 24 | $50.1M | $-1.2B | ||
| Q2 24 | $167.4M | $-230.0M | ||
| Q1 24 | $178.9M | $347.0M |
| Q4 25 | -1.0% | 104.8% | ||
| Q3 25 | 1.4% | 19.4% | ||
| Q2 25 | 7.9% | 65.8% | ||
| Q1 25 | 4.6% | -8.5% | ||
| Q4 24 | 2.6% | 69.2% | ||
| Q3 24 | 3.2% | -175.8% | ||
| Q2 24 | 12.3% | -15.1% | ||
| Q1 24 | 10.0% | 22.6% |
| Q4 25 | 4.5% | 5.3% | ||
| Q3 25 | 3.5% | 1.5% | ||
| Q2 25 | 3.8% | 1.3% | ||
| Q1 25 | 3.8% | 0.6% | ||
| Q4 24 | 4.6% | 7.5% | ||
| Q3 24 | 2.7% | 2.4% | ||
| Q2 24 | 2.4% | 0.9% | ||
| Q1 24 | 3.1% | 0.8% |
| Q4 25 | 0.68× | 4.33× | ||
| Q3 25 | 0.63× | 0.81× | ||
| Q2 25 | 3.42× | 2.90× | ||
| Q1 25 | 1.05× | -0.35× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 2.61× | -0.79× | ||
| Q1 24 | 1.40× | 1.64× |
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% |
KEY
Segment breakdown not available.
