Academy Sports + Outdoors vs Dick's Sporting Goods
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KIRA’s take AI analyst
I put Academy Sports + Outdoors and Dick's Sporting Goods side by side, using each one’s latest annual report. Here is what stands out:
- 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 10.0x for Academy Sports + Outdoors.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Academy Sports + Outdoors
ASO
5/8
Gross marginOperating marginNet marginFCF marginShare count change
Dick's Sporting Goods
DKS
3/8
Revenue growth5-year growthReturn on equity
Side by side
Best in the row
| 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 | 10.0x | 15.7x |
| Piotroski F-score | 7 | — |
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.