Academy Sports + Outdoors vs MarineMax
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KIRA’s take AI analyst
I put Academy Sports + Outdoors and MarineMax side by side, using each one’s latest annual report. Here is what stands out:
- Academy Sports + Outdoors is the larger business, with $6.1B of revenue in fiscal 2025 against $2.3B for MarineMax, about 2.6 times as much.
- Academy Sports + Outdoors grew revenue faster (2.0%, against −5.0%).
- Academy Sports + Outdoors kept more of each dollar of sales as operating profit (8.5% operating margin, against 1.5%).
- Academy Sports + Outdoors turned more of its sales into free cash flow (3.7% FCF margin, against 0.5%).
- Academy Sports + Outdoors earned a higher return on the capital invested in it (17.6%, against 1.4%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Academy Sports + Outdoors
ASO
10/11
Revenue growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
MarineMax
HZO
1/11
5-year growth
Side by side
Best in the row
| Latest fiscal year | ASO FY25 | HZO FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $1.2B |
| Revenue | $6.1B | $2.3B |
| Free cash flow | $222M | $11.9M |
| Net income | $377M | −$31.6M |
| Growth | ||
| Revenue growth | 2.0% | −5.0% |
| 5-year growth | 1.3% | 8.9% |
| Share count change | −6.9% | −4.2% |
| Profitability | ||
| Gross margin | 34.8% | 32.5% |
| Operating margin | 8.5% | 1.5% |
| Net margin | 6.2% | −1.4% |
| FCF margin | 3.7% | 0.5% |
| Return on capital | 17.6% | 1.4% |
| Return on equity | 18.1% | −3.3% |
| Balance sheet | ||
| Net debt | $154M | $939M |
| Net debt / EBITDA | 0.2x | 11.3x |
| Dividends and buybacks | $234M | $27.5M |
| Valuation & quality | ||
| P/E | 10.0x | — |
| Piotroski F-score | 7 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.