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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and M/I HOMES, INC. (MHO). 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 $1.1B, roughly 1.2× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 5.2%, a 0.4% gap on every dollar of revenue. On growth, Academy Sports & Outdoors, Inc. posted the faster year-over-year revenue change (3.0% vs -4.8%). M/I HOMES, INC. produced more free cash flow last quarter ($-13.0M vs $-13.6M). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% 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.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
ASO vs MHO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.1B |
| Net Profit | $71.6M | $64.0M |
| Gross Margin | 35.7% | 17.4% |
| Operating Margin | 7.3% | 6.5% |
| Net Margin | 5.2% | 5.6% |
| Revenue YoY | 3.0% | -4.8% |
| Net Profit YoY | 8.8% | -52.1% |
| EPS (diluted) | $1.05 | $2.42 |
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 | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.7B | $976.1M | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.8B | $1.0B |
| Q4 25 | $71.6M | $64.0M | ||
| Q3 25 | $125.4M | $106.5M | ||
| Q2 25 | $46.1M | $121.2M | ||
| Q1 25 | $133.6M | $111.2M | ||
| Q4 24 | $65.8M | $133.5M | ||
| Q3 24 | $142.6M | $145.4M | ||
| Q2 24 | $76.5M | $146.7M | ||
| Q1 24 | $168.2M | $138.1M |
| Q4 25 | 35.7% | 17.4% | ||
| Q3 25 | 36.0% | 24.5% | ||
| Q2 25 | 34.0% | 24.7% | ||
| Q1 25 | 32.2% | 25.9% | ||
| Q4 24 | 34.0% | 24.6% | ||
| Q3 24 | 36.1% | 27.1% | ||
| Q2 24 | 33.4% | 27.9% | ||
| Q1 24 | 33.3% | 27.1% |
| Q4 25 | 7.3% | 6.5% | ||
| Q3 25 | 10.8% | 12.0% | ||
| Q2 25 | 5.1% | 13.4% | ||
| Q1 25 | 9.2% | 14.4% | ||
| Q4 24 | 6.8% | 13.6% | ||
| Q3 24 | 12.3% | 15.9% | ||
| Q2 24 | 7.5% | 16.8% | ||
| Q1 24 | 11.4% | 16.6% |
| Q4 25 | 5.2% | 5.6% | ||
| Q3 25 | 7.8% | 9.4% | ||
| Q2 25 | 3.4% | 10.4% | ||
| Q1 25 | 8.0% | 11.4% | ||
| Q4 24 | 4.9% | 11.1% | ||
| Q3 24 | 9.2% | 12.7% | ||
| Q2 24 | 5.6% | 13.2% | ||
| Q1 24 | 9.4% | 13.2% |
| Q4 25 | $1.05 | $2.42 | ||
| Q3 25 | $1.85 | $3.92 | ||
| Q2 25 | $0.68 | $4.42 | ||
| Q1 25 | $1.85 | $3.98 | ||
| Q4 24 | $0.92 | $4.71 | ||
| Q3 24 | $1.95 | $5.10 | ||
| Q2 24 | $1.01 | $5.12 | ||
| Q1 24 | $2.19 | $4.78 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $3.2B |
| Total Assets | $5.4B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | — | ||
| Q3 25 | $300.9M | — | ||
| Q2 25 | $285.1M | — | ||
| Q1 25 | $288.9M | — | ||
| Q4 24 | $296.0M | — | ||
| Q3 24 | $324.6M | — | ||
| Q2 24 | $378.1M | — | ||
| Q1 24 | $347.9M | — |
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | $1.9B | $3.1B | ||
| Q1 25 | $2.0B | $3.0B | ||
| Q4 24 | $2.0B | $2.9B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $1.9B | $2.7B | ||
| Q1 24 | $2.0B | $2.6B |
| Q4 25 | $5.4B | $4.8B | ||
| Q3 25 | $5.3B | $4.8B | ||
| Q2 25 | $5.2B | $4.7B | ||
| Q1 25 | $4.9B | $4.6B | ||
| Q4 24 | $5.1B | $4.5B | ||
| Q3 24 | $4.9B | $4.5B | ||
| Q2 24 | $4.9B | $4.3B | ||
| Q1 24 | $4.7B | $4.2B |
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 | $-8.7M |
| Free Cash FlowOCF − Capex | $-13.6M | $-13.0M |
| FCF MarginFCF / Revenue | -1.0% | -1.1% |
| Capex IntensityCapex / Revenue | 4.5% | 0.4% |
| Cash ConversionOCF / Net Profit | 0.68× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $-8.7M | ||
| Q3 25 | $78.6M | $43.4M | ||
| Q2 25 | $157.5M | $37.8M | ||
| Q1 25 | $140.2M | $64.9M | ||
| Q4 24 | $96.9M | $104.4M | ||
| Q3 24 | $91.3M | $-67.9M | ||
| Q2 24 | $199.7M | $27.5M | ||
| Q1 24 | $234.7M | $115.8M |
| Q4 25 | $-13.6M | $-13.0M | ||
| Q3 25 | $21.8M | $42.0M | ||
| Q2 25 | $106.6M | $35.1M | ||
| Q1 25 | $76.4M | $63.5M | ||
| Q4 24 | $34.4M | $102.3M | ||
| Q3 24 | $50.1M | $-68.5M | ||
| Q2 24 | $167.4M | $22.0M | ||
| Q1 24 | $178.9M | $115.5M |
| Q4 25 | -1.0% | -1.1% | ||
| Q3 25 | 1.4% | 3.7% | ||
| Q2 25 | 7.9% | 3.0% | ||
| Q1 25 | 4.6% | 6.5% | ||
| Q4 24 | 2.6% | 8.5% | ||
| Q3 24 | 3.2% | -6.0% | ||
| Q2 24 | 12.3% | 2.0% | ||
| Q1 24 | 10.0% | 11.0% |
| Q4 25 | 4.5% | 0.4% | ||
| Q3 25 | 3.5% | 0.1% | ||
| Q2 25 | 3.8% | 0.2% | ||
| Q1 25 | 3.8% | 0.1% | ||
| Q4 24 | 4.6% | 0.2% | ||
| Q3 24 | 2.7% | 0.1% | ||
| Q2 24 | 2.4% | 0.5% | ||
| Q1 24 | 3.1% | 0.0% |
| Q4 25 | 0.68× | -0.14× | ||
| Q3 25 | 0.63× | 0.41× | ||
| Q2 25 | 3.42× | 0.31× | ||
| Q1 25 | 1.05× | 0.58× | ||
| Q4 24 | 1.47× | 0.78× | ||
| Q3 24 | 0.64× | -0.47× | ||
| Q2 24 | 2.61× | 0.19× | ||
| Q1 24 | 1.40× | 0.84× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
