Academy Sports + Outdoors vs Dick's Sporting Goods
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The short version
- Dick's Sporting Goods is the larger business, with $17.2B of revenue in fiscal 2025 against $6.1B for Academy Sports + Outdoors, about 2.8 times as much.
- Dick's Sporting Goods grew revenue faster (28.1%, against 2.0%).
- Academy Sports + Outdoors kept more of each dollar of sales as operating profit (8.5% operating margin, against 6.4%).
- Academy Sports + Outdoors turned more of its sales into free cash flow (3.7% FCF margin, against 2.3%).
- Investors pay more for each dollar of Dick's Sporting Goods’s earnings: a P/E of 15.7x against 10.1x for Academy Sports + Outdoors.
| Latest fiscal year | ASO · FY25 | DKS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $13.0B |
| Revenue | $6.1B | $17.2B |
| Free cash flow | $222M | $400M |
| Net income | $377M | $849M |
| Growth | ||
| Revenue growth | 2.0% | 28.1% |
| 5-year growth | 1.3% | 12.4% |
| Share count change | −6.9% | 2.7% |
| Profitability | ||
| Gross margin | 34.8% | 32.9% |
| Operating margin | 8.5% | 6.4% |
| Net margin | 6.2% | 4.9% |
| FCF margin | 3.7% | 2.3% |
| Return on capital | 17.6% | — |
| Return on equity | 18.1% | 19.4% |
| Balance sheet | ||
| Net debt | $154M | — |
| Net debt / EBITDA | 0.2x | — |
| Dividends and buybacks | $234M | $761M |
| Valuation & quality | ||
| P/E | 10.1x | 15.7x |
| Piotroski F-score | 7 | — |
FY16
ASO —
DKS $7.9B
FY17
ASO —
DKS $8.6B
FY18
ASO $4.8B
DKS $8.4B
FY19
ASO $4.8B
DKS $8.8B
FY20
ASO $5.7B
DKS $9.6B
FY21
ASO $6.8B
DKS $12.3B
FY22
ASO $6.4B
DKS $12.4B
FY23
ASO $6.2B
DKS $13.0B
FY24
ASO $5.9B
DKS $13.4B
FY25
ASO $6.1B
DKS $17.2B
ASO
DKS
FY16
ASO —
DKS 5.7%
FY17
ASO —
DKS 5.6%
FY18
ASO 2.7%
DKS 5.3%
FY19
ASO 3.7%
DKS 4.3%
FY20
ASO 7.4%
DKS 7.7%
FY21
ASO 13.4%
DKS 16.6%
FY22
ASO 13.2%
DKS 11.8%
FY23
ASO 11.0%
DKS 9.9%
FY24
ASO 9.1%
DKS 11.0%
FY25
ASO 8.5%
DKS 6.4%
ASO
DKS
FY16
ASO —
DKS $347M
FY17
ASO —
DKS $272M
FY18
ASO $90.6M
DKS $515M
FY19
ASO $201M
DKS $187M
FY20
ASO $970M
DKS $1.3B
FY21
ASO $597M
DKS $1.3B
FY22
ASO $444M
DKS $558M
FY23
ASO $328M
DKS $940M
FY24
ASO $328M
DKS $509M
FY25
ASO $222M
DKS $400M
ASO
DKS
FY16
ASO —
DKS —
FY17
ASO —
DKS —
FY18
ASO —
DKS —
FY19
ASO —
DKS —
FY20
ASO —
DKS —
FY21
ASO 44.5%
DKS —
FY22
ASO 36.6%
DKS —
FY23
ASO 26.7%
DKS —
FY24
ASO 19.5%
DKS —
FY25
ASO 17.6%
DKS —
ASO
DKS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.