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Academy Sports & Outdoors, Inc.（ASO）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是Academy Sports & Outdoors, Inc.的1.2倍（$1.7B vs $1.4B），Academy Sports & Outdoors, Inc.净利率更高（5.2% vs -2.8%，领先8.0%），北极星同比增速更快（8.0% vs 3.0%），Academy Sports & Outdoors, Inc.自由现金流更多（$-13.6M vs $-342.5M），过去两年北极星的营收复合增速更高（-8.0% 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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
ASO vs PII — 直观对比
营收规模更大
PII
是对方的1.2倍
$1.4B
营收增速更快
PII
高出5.0%
3.0%
净利率更高
ASO
高出8.0%
-2.8%
自由现金流更多
ASO
多$328.9M
$-342.5M
两年增速更快
PII
近两年复合增速
-12.2%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $71.6M | $-47.2M |
| 毛利率 | 35.7% | 20.2% |
| 营业利润率 | 7.3% | 76.5% |
| 净利率 | 5.2% | -2.8% |
| 营收同比 | 3.0% | 8.0% |
| 净利润同比 | 8.8% | 29.0% |
| 每股收益（稀释后） | $1.05 | $-0.83 |
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ASOPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.4B | $2.0B |
净利润ASOPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $71.6M | $-303.6M | ||
| Q3 25 | $125.4M | $-15.8M | ||
| Q2 25 | $46.1M | $-79.3M | ||
| Q1 25 | $133.6M | $-66.8M | ||
| Q4 24 | $65.8M | $10.6M | ||
| Q3 24 | $142.6M | $27.7M | ||
| Q2 24 | $76.5M | $68.7M |
毛利率ASOPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 35.7% | 20.0% | ||
| Q3 25 | 36.0% | 20.7% | ||
| Q2 25 | 34.0% | 19.4% | ||
| Q1 25 | 32.2% | 16.0% | ||
| Q4 24 | 34.0% | 20.4% | ||
| Q3 24 | 36.1% | 20.6% | ||
| Q2 24 | 33.4% | 21.6% |
营业利润率ASOPII
| Q1 26 | — | 76.5% | ||
| Q4 25 | 7.3% | -16.7% | ||
| Q3 25 | 10.8% | 1.1% | ||
| Q2 25 | 5.1% | -0.7% | ||
| Q1 25 | 9.2% | -2.4% | ||
| Q4 24 | 6.8% | 3.7% | ||
| Q3 24 | 12.3% | 3.8% | ||
| Q2 24 | 7.5% | 6.1% |
净利率ASOPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 5.2% | -15.8% | ||
| Q3 25 | 7.8% | -0.9% | ||
| Q2 25 | 3.4% | -4.3% | ||
| Q1 25 | 8.0% | -4.3% | ||
| Q4 24 | 4.9% | 0.6% | ||
| Q3 24 | 9.2% | 1.6% | ||
| Q2 24 | 5.6% | 3.5% |
每股收益（稀释后）ASOPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $1.05 | $-5.34 | ||
| Q3 25 | $1.85 | $-0.28 | ||
| Q2 25 | $0.68 | $-1.39 | ||
| Q1 25 | $1.85 | $-1.17 | ||
| Q4 24 | $0.92 | $0.18 | ||
| Q3 24 | $1.95 | $0.49 | ||
| Q2 24 | $1.01 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $750.4M |
| 总资产 | $5.4B | $5.2B |
| 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ASOPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $289.5M | $138.0M | ||
| Q3 25 | $300.9M | $335.5M | ||
| Q2 25 | $285.1M | $324.3M | ||
| Q1 25 | $288.9M | $291.7M | ||
| Q4 24 | $296.0M | $287.8M | ||
| Q3 24 | $324.6M | $291.3M | ||
| Q2 24 | $378.1M | $322.7M |
总债务ASOPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益ASOPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $2.1B | $828.4M | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $2.0B | $1.2B | ||
| Q4 24 | $2.0B | $1.3B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B |
总资产ASOPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $5.4B | $4.9B | ||
| Q3 25 | $5.3B | $5.3B | ||
| Q2 25 | $5.2B | $5.4B | ||
| Q1 25 | $4.9B | $5.5B | ||
| Q4 24 | $5.1B | $5.5B | ||
| Q3 24 | $4.9B | $5.6B | ||
| Q2 24 | $4.9B | $5.7B |
负债/权益比ASOPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-13.6M | $-342.5M |
| 自由现金流率自由现金流/营收 | -1.0% | -20.6% |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | $191.4M | $168.0M |
8季度趋势，按日历期对齐
经营现金流ASOPII
| Q1 26 | — | — | ||
| Q4 25 | $49.0M | $178.7M | ||
| Q3 25 | $78.6M | $158.8M | ||
| Q2 25 | $157.5M | $320.3M | ||
| Q1 25 | $140.2M | $83.2M | ||
| Q4 24 | $96.9M | $206.3M | ||
| Q3 24 | $91.3M | $21.0M | ||
| Q2 24 | $199.7M | $146.3M |
自由现金流ASOPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $-13.6M | $114.0M | ||
| Q3 25 | $21.8M | $116.7M | ||
| Q2 25 | $106.6M | $279.8M | ||
| Q1 25 | $76.4M | $47.6M | ||
| Q4 24 | $34.4M | $137.3M | ||
| Q3 24 | $50.1M | $-32.4M | ||
| Q2 24 | $167.4M | $79.1M |
自由现金流率ASOPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | -1.0% | 5.9% | ||
| Q3 25 | 1.4% | 6.3% | ||
| Q2 25 | 7.9% | 15.1% | ||
| Q1 25 | 4.6% | 3.1% | ||
| Q4 24 | 2.6% | 7.8% | ||
| Q3 24 | 3.2% | -1.9% | ||
| Q2 24 | 12.3% | 4.0% |
资本支出强度ASOPII
| Q1 26 | — | — | ||
| Q4 25 | 4.5% | 3.4% | ||
| Q3 25 | 3.5% | 2.3% | ||
| Q2 25 | 3.8% | 2.2% | ||
| Q1 25 | 3.8% | 2.3% | ||
| Q4 24 | 4.6% | 3.9% | ||
| Q3 24 | 2.7% | 3.1% | ||
| Q2 24 | 2.4% | 3.4% |
现金转化率ASOPII
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.47× | 19.46× | ||
| Q3 24 | 0.64× | 0.76× | ||
| Q2 24 | 2.61× | 2.13× |
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% |
PII
暂无分部数据
