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Academy Sports & Outdoors, Inc.（ASO）与CF Industries（CF）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是Academy Sports & Outdoors, Inc.的1.4倍（$2.0B vs $1.4B），CF Industries净利率更高（31.0% vs 5.2%，领先25.8%），CF Industries同比增速更快（19.4% vs 3.0%），CF Industries自由现金流更多（$1.7B vs $-13.6M），过去两年CF Industries的营收复合增速更高（12.4% vs -12.2%）
Academy Sports & Outdoors是美国知名的运动户外用品连锁零售商，总部位于得克萨斯州哈里斯县，临近休斯顿。品牌曾由戈奇曼家族私有运营74年，2011年被私募机构KKR收购，2020年10月于纳斯达克挂牌上市，旗下门店主营各类运动装备、户外休闲用品等品类。
CF Industries Holdings Inc.是美国知名农用肥料生产及分销商，1946年成立时名为中央农民肥料公司，总部位于芝加哥郊区的伊利诺伊州诺斯布鲁克。公司主营氨、尿素、硝酸铵等肥料产品，最初为区域农业供应合作社联盟，成立56年后完成股份化改制，转为公开上市企业。
ASO vs CF — 直观对比
营收规模更大
CF
是对方的1.4倍
$1.4B
营收增速更快
CF
高出16.4%
3.0%
净利率更高
CF
高出25.8%
5.2%
自由现金流更多
CF
多$1.7B
$-13.6M
两年增速更快
CF
近两年复合增速
-12.2%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.0B |
| 净利润 | $71.6M | $615.0M |
| 毛利率 | 35.7% | 37.6% |
| 营业利润率 | 7.3% | 43.5% |
| 净利率 | 5.2% | 31.0% |
| 营收同比 | 3.0% | 19.4% |
| 净利润同比 | 8.8% | 97.1% |
| 每股收益（稀释后） | $1.05 | $3.98 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ASOCF
| Q1 26 | — | $2.0B | ||
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.7B | $1.7B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.4B | $1.6B |
净利润ASOCF
| Q1 26 | — | $615.0M | ||
| Q4 25 | $71.6M | $495.0M | ||
| Q3 25 | $125.4M | $460.0M | ||
| Q2 25 | $46.1M | $492.0M | ||
| Q1 25 | $133.6M | $351.0M | ||
| Q4 24 | $65.8M | $392.0M | ||
| Q3 24 | $142.6M | $341.0M | ||
| Q2 24 | $76.5M | $506.0M |
毛利率ASOCF
| Q1 26 | — | 37.6% | ||
| Q4 25 | 35.7% | 40.9% | ||
| Q3 25 | 36.0% | 38.1% | ||
| Q2 25 | 34.0% | 39.9% | ||
| Q1 25 | 32.2% | 34.4% | ||
| Q4 24 | 34.0% | 34.4% | ||
| Q3 24 | 36.1% | 32.4% | ||
| Q2 24 | 33.4% | 43.2% |
营业利润率ASOCF
| Q1 26 | — | 43.5% | ||
| Q4 25 | 7.3% | 33.0% | ||
| Q3 25 | 10.8% | 35.0% | ||
| Q2 25 | 5.1% | 34.3% | ||
| Q1 25 | 9.2% | 27.4% | ||
| Q4 24 | 6.8% | 28.9% | ||
| Q3 24 | 12.3% | 26.6% | ||
| Q2 24 | 7.5% | 40.6% |
净利率ASOCF
| Q1 26 | — | 31.0% | ||
| Q4 25 | 5.2% | 26.4% | ||
| Q3 25 | 7.8% | 27.7% | ||
| Q2 25 | 3.4% | 26.0% | ||
| Q1 25 | 8.0% | 21.1% | ||
| Q4 24 | 4.9% | 25.7% | ||
| Q3 24 | 9.2% | 24.9% | ||
| Q2 24 | 5.6% | 32.2% |
每股收益（稀释后）ASOCF
| Q1 26 | — | $3.98 | ||
| Q4 25 | $1.05 | $2.56 | ||
| Q3 25 | $1.85 | $2.19 | ||
| Q2 25 | $0.68 | $2.37 | ||
| Q1 25 | $1.85 | $1.85 | ||
| Q4 24 | $0.92 | $1.86 | ||
| Q3 24 | $1.95 | $1.55 | ||
| Q2 24 | $1.01 | $2.30 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $289.5M | — |
| 总债务越低越好 | — | $3.2B |
| 股东权益账面价值 | $2.1B | $5.3B |
| 总资产 | $5.4B | $14.6B |
| 负债/权益比越低杠杆越低 | — | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资ASOCF
| Q1 26 | — | — | ||
| 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 | — |
总债务ASOCF
| Q1 26 | — | $3.2B | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B |
股东权益ASOCF
| Q1 26 | — | $5.3B | ||
| Q4 25 | $2.1B | $4.8B | ||
| Q3 25 | $2.1B | $4.8B | ||
| Q2 25 | $1.9B | $5.0B | ||
| Q1 25 | $2.0B | $4.8B | ||
| Q4 24 | $2.0B | $5.0B | ||
| Q3 24 | $2.0B | $5.2B | ||
| Q2 24 | $1.9B | $5.5B |
总资产ASOCF
| Q1 26 | — | $14.6B | ||
| Q4 25 | $5.4B | $14.1B | ||
| Q3 25 | $5.3B | $14.2B | ||
| Q2 25 | $5.2B | $13.8B | ||
| Q1 25 | $4.9B | $13.3B | ||
| Q4 24 | $5.1B | $13.5B | ||
| Q3 24 | $4.9B | $13.8B | ||
| Q2 24 | $4.9B | $13.8B |
负债/权益比ASOCF
| Q1 26 | — | 0.60× | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.54× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $49.0M | $496.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.6M | $1.7B |
| 自由现金流率自由现金流/营收 | -1.0% | 83.2% |
| 资本支出强度资本支出/营收 | 4.5% | 11.2% |
| 现金转化率经营现金流/净利润 | 0.68× | 0.81× |
| 过去12个月自由现金流最近4个季度 | $191.4M | $3.0B |
8季度趋势，按日历期对齐
经营现金流ASOCF
| Q1 26 | — | $496.0M | ||
| Q4 25 | $49.0M | $539.0M | ||
| Q3 25 | $78.6M | $1.1B | ||
| Q2 25 | $157.5M | $563.0M | ||
| Q1 25 | $140.2M | $586.0M | ||
| Q4 24 | $96.9M | $420.0M | ||
| Q3 24 | $91.3M | $931.0M | ||
| Q2 24 | $199.7M | $475.0M |
自由现金流ASOCF
| Q1 26 | — | $1.7B | ||
| Q4 25 | $-13.6M | $313.0M | ||
| Q3 25 | $21.8M | $717.0M | ||
| Q2 25 | $106.6M | $318.0M | ||
| Q1 25 | $76.4M | $454.0M | ||
| Q4 24 | $34.4M | $223.0M | ||
| Q3 24 | $50.1M | $792.0M | ||
| Q2 24 | $167.4M | $391.0M |
自由现金流率ASOCF
| Q1 26 | — | 83.2% | ||
| Q4 25 | -1.0% | 16.7% | ||
| Q3 25 | 1.4% | 43.2% | ||
| Q2 25 | 7.9% | 16.8% | ||
| Q1 25 | 4.6% | 27.3% | ||
| Q4 24 | 2.6% | 14.6% | ||
| Q3 24 | 3.2% | 57.8% | ||
| Q2 24 | 12.3% | 24.9% |
资本支出强度ASOCF
| Q1 26 | — | 11.2% | ||
| Q4 25 | 4.5% | 12.1% | ||
| Q3 25 | 3.5% | 20.9% | ||
| Q2 25 | 3.8% | 13.0% | ||
| Q1 25 | 3.8% | 7.9% | ||
| Q4 24 | 4.6% | 12.9% | ||
| Q3 24 | 2.7% | 10.1% | ||
| Q2 24 | 2.4% | 5.3% |
现金转化率ASOCF
| Q1 26 | — | 0.81× | ||
| Q4 25 | 0.68× | 1.09× | ||
| Q3 25 | 0.63× | 2.31× | ||
| Q2 25 | 3.42× | 1.14× | ||
| Q1 25 | 1.05× | 1.67× | ||
| Q4 24 | 1.47× | 1.07× | ||
| Q3 24 | 0.64× | 2.73× | ||
| Q2 24 | 2.61× | 0.94× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
CF
| EBITDA | $1.0B | 51% |
| Other | $975.0M | 49% |
| Loss on foreign currency transactions | $3.0M | 0% |
