Academy Sports & Outdoors, Inc. (ASO) intrinsic value & 10-year financials
Academy Sports & Outdoors, Inc. (ASO) has a Graham intrinsic value of $184.01 per share. At $58.63 on Oct 17, 2026, the stock trades 68% below that value. Over the last 9 fiscal years revenue grew 3.4% a year to $6.1B, with an average return on invested capital of 17.5%.
- Graham intrinsic value
- $184.01
- Share price (Oct 17, 2026)
- $58.63
- Price vs Graham value
- 68% below
- Market cap
- $4.0B
- Revenue (FY2026)
- $6.1B
- Revenue growth (9-yr CAGR)
- 3.4%
- ROIC (10-yr avg)
- 17.5%
- Free cash flow (FY2026)
- $222.1M
ASO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $6.1B | $376.8M | $5.54 | $222.1M | 8.5% | 11.4% |
| FY2025 | $5.9B | $418.4M | $5.73 | $328.5M | 9.1% | 12.7% |
| FY2024 | $6.2B | $519.2M | $6.70 | $328.0M | 11.0% | 17.3% |
| FY2023 | $6.4B | $628.0M | $7.49 | $443.7M | 13.2% | 22.8% |
| FY2022 | $6.8B | $671.4M | $7.12 | $597.5M | 13.4% | 26.2% |
| FY2021 | $5.7B | $308.8M | $3.79 | $970.3M | 7.4% | 14.3% |
| FY2020 | $4.8B | $120.0M | $1.60 | $200.9M | 3.7% | — |
| FY2019 | $4.8B | $21.4M | $0.29 | $90.6M | 2.7% | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Academy Sports & Outdoors, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Academy Sports & Outdoors, Inc. has earned high returns on invested capital, averaging 17.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Academy Sports & Outdoors, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Academy Sports & Outdoors, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $184.01 per share.