Filing Flows

Filing Flows › Academy Sports & Outdoors (ASO) › How it makes money

How Academy Sports & Outdoors (ASO) makes money

Academy Sports & Outdoors (ASO) made $1.6B of revenue in the second quarter fiscal 2027 (Q2 FY27), +3% from a year earlier. Total merchandise sales brought in $1.6B (99%); Other sales brought in $13.7M (1%). Of every dollar of revenue, 40¢ was left as gross profit, 15¢ was left as operating profit, 8¢ was left as net earnings.

Drawing the Sankey…

Academy Sports & Outdoors revenue by segment, Q2 FY27Academy Sports & Outdoors revenue by segment, Q2 FY27Total merchandise sales$1.6BOther sales$13.7M
Academy Sports & Outdoors: revenue by line, Q1 FY26 to Q2 FY27Academy Sports & Outdoors: revenue by line, Q1 FY26 to Q2 FY27Total merchandise sal…Other salesTotal merchandise sales: $1.6B latest$1.6BOther sales: $13.7M latestQ1 FY26Q2 FY26Q3 FY26Q1 FY27Q2 FY27
The mix barely moved between Q1 FY26 and Q2 FY27.
Academy Sports & Outdoors revenue by quarterAcademy Sports & Outdoors revenue by quarter$1.7BQ4 FY25$1.4BQ1 FY26$1.6BQ2 FY26$1.4BQ3 FY26$1.7BQ4 FY26$1.4BQ1 FY27$1.6BQ2 FY27
Academy Sports & Outdoors: where each dollar of revenue goesAcademy Sports & Outdoors: where each dollar of revenue goesCost of revenue60¢Gross profit40¢Operating expenses25¢Operating profit15¢Income tax2¢Net earnings8¢Operating cash flow11¢Free cash flow7¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Total merchandise sales$1.6B99.2%+14%+3%
  ↳ Outdoors$469M28.4%+10%+4%
  ↳ Apparel$452M27.4%+30%+0.2%
  ↳ Sports and recreation$393M23.9%+10%+6%
  ↳ Footwear$320M19.4%+6%-1%
Other sales$13.7M0.8%+44%+103%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$1.6B100.0%
Cost of revenue$981M59.6%
Gross profit$666M40.4%
Operating expenses$420M25.5%
Operating profit$246M15.0%
Income tax$40.5M2.5%
Net earnings$138M8.4%
Operating cash flow$188M11.4%
Free cash flow$116M7.0%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$1.6B+3%
Q1 FY27$1.4B+7%
Q4 FY26$1.7B+2%
Q3 FY26$1.4B+3%
Q2 FY26$1.6B+3%
Q1 FY26$1.4B-0.9%
Q4 FY25$1.7B-7%

From Academy Sports & Outdoors' 10-Q filed Sep 9, 2026 (on EDGAR).

Questions

How does Academy Sports & Outdoors make money?

Academy Sports & Outdoors (ASO) made $1.6B of revenue in the second quarter fiscal 2027 (Q2 FY27), +3% from a year earlier. Total merchandise sales brought in $1.6B (99%); Other sales brought in $13.7M (1%). Of every dollar of revenue, 40¢ was left as gross profit, 15¢ was left as operating profit, 8¢ was left as net earnings.

What is Academy Sports & Outdoors' biggest business?

Total merchandise sales: $1.6B in the second quarter fiscal 2027, 99% of revenue, +3% from a year earlier.

What is Academy Sports & Outdoors' profit margin?

Net earnings were $138M, 8.4% of revenue, in the second quarter fiscal 2027; the operating margin was 15.0%.

Open the interactive view →

Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.