Academy Sports + Outdoors vs Signet Jewelers
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KIRA’s take AI analyst
I put Academy Sports + Outdoors and Signet Jewelers side by side, using each one’s latest annual report. Here is what stands out:
- 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 13.3x against 10.0x for Academy Sports + Outdoors.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Academy Sports + Outdoors
ASO
5/11
Revenue growthOperating marginNet marginReturn on equityShare count change
Signet Jewelers
SIG
6/11
5-year growthGross marginFCF marginReturn on capitalPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | ASO FY25 | SIG FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $4.5B |
| 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 | 10.0x | 13.3x |
| Piotroski F-score | 7 | 8 |
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.

