Academy Sports + Outdoors vs Signet Jewelers
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The short version
- Signet Jewelers is the larger business, with $6.8B of revenue in fiscal 2026 against $6.1B for Academy Sports + Outdoors.
- Academy Sports + Outdoors kept more of each dollar of sales as operating profit (8.5% operating margin, against 5.8%).
- Signet Jewelers turned more of its sales into free cash flow (7.7% FCF margin, against 3.7%).
- Signet Jewelers earned a higher return on the capital invested in it (24.9%, against 17.6%).
- Investors pay more for each dollar of Signet Jewelers’s earnings: a P/E of 13.6x against 10.1x for Academy Sports + Outdoors.
| Latest fiscal year | ASO · FY25 | SIG · FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $4.6B |
| Revenue | $6.1B | $6.8B |
| Free cash flow | $222M | $525M |
| Net income | $377M | $294M |
| Growth | ||
| Revenue growth | 2.0% | 1.6% |
| 5-year growth | 1.3% | 5.5% |
| Share count change | −6.9% | −5.7% |
| Profitability | ||
| Gross margin | 34.8% | 39.6% |
| Operating margin | 8.5% | 5.8% |
| Net margin | 6.2% | 4.3% |
| FCF margin | 3.7% | 7.7% |
| Return on capital | 17.6% | 24.9% |
| Return on equity | 18.1% | 15.4% |
| Balance sheet | ||
| Net debt | $154M | −$875M |
| Net debt / EBITDA | 0.2x | −1.6x |
| Dividends and buybacks | $234M | $257M |
| Valuation & quality | ||
| P/E | 10.1x | 13.6x |
| Piotroski F-score | 7 | 8 |
Revenue
FY17
ASO —
SIG $6.4B
FY18
ASO $4.8B
SIG $6.3B
FY19
ASO $4.8B
SIG $6.2B
FY20
ASO $5.7B
SIG $6.1B
FY21
ASO $6.8B
SIG $5.2B
FY22
ASO $6.4B
SIG $7.8B
FY23
ASO $6.2B
SIG $7.8B
FY24
ASO $5.9B
SIG $7.2B
FY25
ASO $6.1B
SIG $6.7B
FY26
ASO —
SIG $6.8B
ASO
SIG
Operating margin
FY17
ASO —
SIG 11.9%
FY18
ASO 2.7%
SIG 9.3%
FY19
ASO 3.7%
SIG −12.2%
FY20
ASO 7.4%
SIG 2.6%
FY21
ASO 13.4%
SIG −1.1%
FY22
ASO 13.2%
SIG 11.5%
FY23
ASO 11.0%
SIG 7.7%
FY24
ASO 9.1%
SIG 8.7%
FY25
ASO 8.5%
SIG 1.7%
FY26
ASO —
SIG 5.8%
ASO
SIG
Free cash flow
FY17
ASO —
SIG $400M
FY18
ASO $90.6M
SIG $1.7B
FY19
ASO $201M
SIG $564M
FY20
ASO $970M
SIG $419M
FY21
ASO $597M
SIG $1.3B
FY22
ASO $444M
SIG $1.1B
FY23
ASO $328M
SIG $659M
FY24
ASO $328M
SIG $421M
FY25
ASO $222M
SIG $438M
FY26
ASO —
SIG $525M
ASO
SIG
Return on capital
FY17
ASO —
SIG 14.1%
FY18
ASO —
SIG 16.5%
FY19
ASO —
SIG −24.8%
FY20
ASO —
SIG 7.6%
FY21
ASO 44.5%
SIG −5.3%
FY22
ASO 36.6%
SIG —
FY23
ASO 26.7%
SIG —
FY24
ASO 19.5%
SIG 83.2%
FY25
ASO 17.6%
SIG 5.1%
FY26
ASO —
SIG 24.9%
ASO
SIG
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.