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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). 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 $1.2B, roughly 1.1× MARRIOTT VACATIONS WORLDWIDE Corp). Academy Sports & Outdoors, Inc. runs the higher net margin — 5.2% vs -35.0%, a 40.2% gap on every dollar of revenue. On growth, Academy Sports & Outdoors, Inc. posted the faster year-over-year revenue change (3.0% vs -0.7%). MARRIOTT VACATIONS WORLDWIDE Corp produced more free cash flow last quarter ($-6.0M vs $-13.6M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% 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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
ASO vs VAC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $71.6M | $-431.0M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | — |
| Net Margin | 5.2% | -35.0% |
| Revenue YoY | 3.0% | -0.7% |
| Net Profit YoY | 8.8% | -962.0% |
| EPS (diluted) | $1.05 | $-12.00 |
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 | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.8B | $1.1B |
| Q4 25 | $71.6M | $-431.0M | ||
| Q3 25 | $125.4M | $-2.0M | ||
| Q2 25 | $46.1M | $69.0M | ||
| Q1 25 | $133.6M | $56.0M | ||
| Q4 24 | $65.8M | $50.0M | ||
| Q3 24 | $142.6M | $84.0M | ||
| Q2 24 | $76.5M | $37.0M | ||
| Q1 24 | $168.2M | $47.0M |
| 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% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.2% | — | ||
| Q4 24 | 6.8% | — | ||
| Q3 24 | 12.3% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 11.4% | — |
| Q4 25 | 5.2% | -35.0% | ||
| Q3 25 | 7.8% | -0.2% | ||
| Q2 25 | 3.4% | 6.0% | ||
| Q1 25 | 8.0% | 5.0% | ||
| Q4 24 | 4.9% | 4.0% | ||
| Q3 24 | 9.2% | 6.9% | ||
| Q2 24 | 5.6% | 3.5% | ||
| Q1 24 | 9.4% | 4.2% |
| Q4 25 | $1.05 | $-12.00 | ||
| Q3 25 | $1.85 | $-0.07 | ||
| Q2 25 | $0.68 | $1.77 | ||
| Q1 25 | $1.85 | $1.46 | ||
| Q4 24 | $0.92 | $1.29 | ||
| Q3 24 | $1.95 | $2.12 | ||
| Q2 24 | $1.01 | $0.98 | ||
| Q1 24 | $2.19 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $2.0B |
| Total Assets | $5.4B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $406.0M | ||
| Q3 25 | $300.9M | $474.0M | ||
| Q2 25 | $285.1M | $205.0M | ||
| Q1 25 | $288.9M | $196.0M | ||
| Q4 24 | $296.0M | $197.0M | ||
| Q3 24 | $324.6M | $197.0M | ||
| Q2 24 | $378.1M | $206.0M | ||
| Q1 24 | $347.9M | $237.0M |
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $2.0B | $2.4B | ||
| Q4 24 | $2.0B | $2.4B | ||
| Q3 24 | $2.0B | $2.4B | ||
| Q2 24 | $1.9B | $2.4B | ||
| Q1 24 | $2.0B | $2.4B |
| Q4 25 | $5.4B | $9.8B | ||
| Q3 25 | $5.3B | $10.1B | ||
| Q2 25 | $5.2B | $9.9B | ||
| Q1 25 | $4.9B | $9.9B | ||
| Q4 24 | $5.1B | $9.8B | ||
| Q3 24 | $4.9B | $9.7B | ||
| Q2 24 | $4.9B | $9.6B | ||
| Q1 24 | $4.7B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | $-13.6M | $-6.0M |
| FCF MarginFCF / Revenue | -1.0% | -0.5% |
| Capex IntensityCapex / Revenue | 4.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 0.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $6.0M | ||
| Q3 25 | $78.6M | $62.0M | ||
| Q2 25 | $157.5M | $-48.0M | ||
| Q1 25 | $140.2M | $8.0M | ||
| Q4 24 | $96.9M | $100.0M | ||
| Q3 24 | $91.3M | $72.0M | ||
| Q2 24 | $199.7M | $30.0M | ||
| Q1 24 | $234.7M | $3.0M |
| Q4 25 | $-13.6M | $-6.0M | ||
| Q3 25 | $21.8M | $51.0M | ||
| Q2 25 | $106.6M | $-68.0M | ||
| Q1 25 | $76.4M | $-6.0M | ||
| Q4 24 | $34.4M | $86.0M | ||
| Q3 24 | $50.1M | $58.0M | ||
| Q2 24 | $167.4M | $17.0M | ||
| Q1 24 | $178.9M | $-13.0M |
| Q4 25 | -1.0% | -0.5% | ||
| Q3 25 | 1.4% | 4.3% | ||
| Q2 25 | 7.9% | -5.9% | ||
| Q1 25 | 4.6% | -0.5% | ||
| Q4 24 | 2.6% | 6.9% | ||
| Q3 24 | 3.2% | 4.8% | ||
| Q2 24 | 12.3% | 1.6% | ||
| Q1 24 | 10.0% | -1.2% |
| Q4 25 | 4.5% | 1.0% | ||
| Q3 25 | 3.5% | 0.9% | ||
| Q2 25 | 3.8% | 1.7% | ||
| Q1 25 | 3.8% | 1.3% | ||
| Q4 24 | 4.6% | 1.1% | ||
| Q3 24 | 2.7% | 1.1% | ||
| Q2 24 | 2.4% | 1.2% | ||
| Q1 24 | 3.1% | 1.4% |
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 3.42× | -0.70× | ||
| Q1 25 | 1.05× | 0.14× | ||
| Q4 24 | 1.47× | 2.00× | ||
| Q3 24 | 0.64× | 0.86× | ||
| Q2 24 | 2.61× | 0.81× | ||
| Q1 24 | 1.40× | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
