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Academy Sports & Outdoors, Inc.（ASO）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是Academy Sports & Outdoors, Inc.的1.2倍（$1.7B vs $1.4B），格罗方德净利率更高（14.8% vs 5.2%，领先9.6%），Academy Sports & Outdoors, Inc.同比增速更快（3.0% vs -2.9%），过去两年格罗方德的营收复合增速更高（-4.3% 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。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
ASO vs GFS — 直观对比
营收规模更大
GFS
是对方的1.2倍
$1.4B
营收增速更快
ASO
高出5.9%
-2.9%
净利率更高
GFS
高出9.6%
5.2%
两年增速更快
GFS
近两年复合增速
-12.2%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $71.6M | $249.0M |
| 毛利率 | 35.7% | 24.8% |
| 营业利润率 | 7.3% | 11.6% |
| 净利率 | 5.2% | 14.8% |
| 营收同比 | 3.0% | -2.9% |
| 净利润同比 | 8.8% | 39.9% |
| 每股收益（稀释后） | $1.05 | $0.44 |
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ASOGFS
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.8B | $1.5B |
净利润ASOGFS
| Q4 25 | $71.6M | — | ||
| Q3 25 | $125.4M | $249.0M | ||
| Q2 25 | $46.1M | $228.0M | ||
| Q1 25 | $133.6M | $211.0M | ||
| Q4 24 | $65.8M | — | ||
| Q3 24 | $142.6M | $178.0M | ||
| Q2 24 | $76.5M | $155.0M | ||
| Q1 24 | $168.2M | $134.0M |
毛利率ASOGFS
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.0% | 24.8% | ||
| Q2 25 | 34.0% | 24.2% | ||
| Q1 25 | 32.2% | 22.4% | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.1% | 23.8% | ||
| Q2 24 | 33.4% | 24.2% | ||
| Q1 24 | 33.3% | 25.4% |
营业利润率ASOGFS
| Q4 25 | 7.3% | — | ||
| Q3 25 | 10.8% | 11.6% | ||
| Q2 25 | 5.1% | 11.6% | ||
| Q1 25 | 9.2% | 9.5% | ||
| Q4 24 | 6.8% | — | ||
| Q3 24 | 12.3% | 10.6% | ||
| Q2 24 | 7.5% | 9.5% | ||
| Q1 24 | 11.4% | 9.5% |
净利率ASOGFS
| Q4 25 | 5.2% | — | ||
| Q3 25 | 7.8% | 14.8% | ||
| Q2 25 | 3.4% | 13.5% | ||
| Q1 25 | 8.0% | 13.3% | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 9.2% | 10.2% | ||
| Q2 24 | 5.6% | 9.5% | ||
| Q1 24 | 9.4% | 8.7% |
每股收益（稀释后）ASOGFS
| Q4 25 | $1.05 | — | ||
| Q3 25 | $1.85 | $0.44 | ||
| Q2 25 | $0.68 | $0.41 | ||
| Q1 25 | $1.85 | $0.38 | ||
| Q4 24 | $0.92 | — | ||
| Q3 24 | $1.95 | $0.32 | ||
| Q2 24 | $1.01 | $0.28 | ||
| Q1 24 | $2.19 | $0.24 |
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 | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $11.8B |
| 总资产 | $5.4B | $16.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ASOGFS
| Q4 25 | $289.5M | — | ||
| Q3 25 | $300.9M | $2.0B | ||
| Q2 25 | $285.1M | $1.8B | ||
| Q1 25 | $288.9M | $1.6B | ||
| Q4 24 | $296.0M | — | ||
| Q3 24 | $324.6M | $2.3B | ||
| Q2 24 | $378.1M | $2.2B | ||
| Q1 24 | $347.9M | $2.2B |
股东权益ASOGFS
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $11.8B | ||
| Q2 25 | $1.9B | $11.5B | ||
| Q1 25 | $2.0B | $11.1B | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | $11.6B | ||
| Q2 24 | $1.9B | $11.3B | ||
| Q1 24 | $2.0B | $11.3B |
总资产ASOGFS
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.3B | $16.7B | ||
| Q2 25 | $5.2B | $16.8B | ||
| Q1 25 | $4.9B | $16.5B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.9B | $18.1B | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.7B | — |
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 | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.6M | — |
| 自由现金流率自由现金流/营收 | -1.0% | — |
| 资本支出强度资本支出/营收 | 4.5% | — |
| 现金转化率经营现金流/净利润 | 0.68× | 2.39× |
| 过去12个月自由现金流最近4个季度 | $191.4M | — |
8季度趋势，按日历期对齐
经营现金流ASOGFS
| Q4 25 | $49.0M | — | ||
| Q3 25 | $78.6M | $595.0M | ||
| Q2 25 | $157.5M | $431.0M | ||
| Q1 25 | $140.2M | $331.0M | ||
| Q4 24 | $96.9M | — | ||
| Q3 24 | $91.3M | $375.0M | ||
| Q2 24 | $199.7M | $402.0M | ||
| Q1 24 | $234.7M | $488.0M |
自由现金流ASOGFS
| Q4 25 | $-13.6M | — | ||
| Q3 25 | $21.8M | — | ||
| Q2 25 | $106.6M | — | ||
| Q1 25 | $76.4M | — | ||
| Q4 24 | $34.4M | — | ||
| Q3 24 | $50.1M | — | ||
| Q2 24 | $167.4M | — | ||
| Q1 24 | $178.9M | — |
自由现金流率ASOGFS
| Q4 25 | -1.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 7.9% | — | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 10.0% | — |
资本支出强度ASOGFS
| Q4 25 | 4.5% | — | ||
| Q3 25 | 3.5% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 3.1% | — |
现金转化率ASOGFS
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.63× | 2.39× | ||
| Q2 25 | 3.42× | 1.89× | ||
| Q1 25 | 1.05× | 1.57× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 0.64× | 2.11× | ||
| Q2 24 | 2.61× | 2.59× | ||
| Q1 24 | 1.40× | 3.64× |
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% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
