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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and Qnity Electronics, Inc. (Q). 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 $1.3B, roughly 1.1× Qnity Electronics, Inc.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 5.2%, a 11.4% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs 3.0%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $-13.6M).
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.
ASO vs Q — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.3B |
| Net Profit | $71.6M | $211.0M |
| Gross Margin | 35.7% | 45.1% |
| Operating Margin | 7.3% | 21.3% |
| Net Margin | 5.2% | 16.5% |
| Revenue YoY | 3.0% | 11.1% |
| Net Profit YoY | 8.8% | 6.0% |
| EPS (diluted) | $1.05 | $1.01 |
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 | — | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | $71.6M | — | ||
| Q3 25 | $125.4M | $211.0M | ||
| Q2 25 | $46.1M | — | ||
| Q1 25 | $133.6M | — | ||
| Q4 24 | $65.8M | — | ||
| Q3 24 | $142.6M | $199.0M | ||
| Q2 24 | $76.5M | — | ||
| Q1 24 | $168.2M | — |
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.0% | 45.1% | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.1% | 47.0% | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.3% | — |
| Q4 25 | 7.3% | — | ||
| Q3 25 | 10.8% | 21.3% | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.2% | — | ||
| Q4 24 | 6.8% | — | ||
| Q3 24 | 12.3% | 21.8% | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 11.4% | — |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 7.8% | 16.5% | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 8.0% | — | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 9.2% | 17.3% | ||
| Q2 24 | 5.6% | — | ||
| Q1 24 | 9.4% | — |
| Q4 25 | $1.05 | — | ||
| Q3 25 | $1.85 | $1.01 | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $0.92 | — | ||
| Q3 24 | $1.95 | $0.95 | ||
| Q2 24 | $1.01 | — | ||
| Q1 24 | $2.19 | — |
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 | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $2.1B | $9.1B |
| Total Assets | $5.4B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | — | ||
| Q3 25 | $300.9M | $128.0M | ||
| 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 | — | — | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $9.1B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | $11.1B | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.3B | $12.5B | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.9B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.7B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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 | $782.0M |
| Free Cash FlowOCF − Capex | $-13.6M | $568.0M |
| FCF MarginFCF / Revenue | -1.0% | 44.5% |
| Capex IntensityCapex / Revenue | 4.5% | 16.8% |
| Cash ConversionOCF / Net Profit | 0.68× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | — | ||
| Q3 25 | $78.6M | $782.0M | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $140.2M | — | ||
| Q4 24 | $96.9M | — | ||
| Q3 24 | $91.3M | — | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $234.7M | — |
| Q4 25 | $-13.6M | — | ||
| Q3 25 | $21.8M | $568.0M | ||
| Q2 25 | $106.6M | — | ||
| Q1 25 | $76.4M | — | ||
| Q4 24 | $34.4M | — | ||
| Q3 24 | $50.1M | — | ||
| Q2 24 | $167.4M | — | ||
| Q1 24 | $178.9M | — |
| Q4 25 | -1.0% | — | ||
| Q3 25 | 1.4% | 44.5% | ||
| Q2 25 | 7.9% | — | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 10.0% | — |
| Q4 25 | 4.5% | — | ||
| Q3 25 | 3.5% | 16.8% | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.63× | 3.71× | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 2.61× | — | ||
| 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% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
