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ASO
Academy Sports + OutdoorsNASDAQConsumer DiscretionarySpecialty RetailSnapshot 2026-06-12
Intact
$51.01-2.52%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is neutral, and earnings quality is fragile, reported profits aren't backed by cash. Management's recent track record has been volatile, with frequent disruptive corporate changes. The sector backdrop is a headwind, and risk is moderate, while ASO trades above typical for sector peers. Peer multiples imply a price about 42% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples, but recent financials are weak or earnings quality is fragile. The read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NASDAQ
- Sector
- Consumer Discretionary
- Industry
- Specialty Retail
- Market cap
- $3.25B
- Employees
- —
- IPO date
- 2020-09-09
- Next earnings
- —
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 8 valuation methods, at three horizons. Current price $51.01. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$89.21consensus
Range $64.01 – $94.38
vs price: -43% below
Method agreement — · 8 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$110.78consensus
Range $74.91 – $125.64
vs price: -54% below
Method agreement — · 6 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $51 ASO trades at 9× p/e, below its 16× p/e peer median. Our $89 fair value sits above the price; low confidence. Analysts: $50–$78. Not investment advice.
Multiple (P/E)
8.5x
peer 15.8x · own history 8.5x
Premium
0.5x peer
1.0x its own history
Growth the price needs
-43%
our forecast 3%
Our fair value
$89.47
range $65.18 – $94.38
Analyst range(a guide on our number, not a target)Our number is above the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivecheap — value-trap risk12-month view
What's priced inJustified
The price implies about 43% below a flat-multiple fair value, below our forecast of about 3%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only weak execution quality — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Consumer Discretionary names rated neutral grew net income 48% of the time over the next year (vs 64% for the rest of the cohort, n=3804).
58th pctl · Consumer Discretionary
Earnings quality
fragileOver the trailing year it converted 1.14x of net income into operating cash flow. Historically, Consumer Discretionary names rated fragile grew net income 45% of the time over the next year (vs 58% for the rest of the cohort, n=2427).
23rd pctl · Consumer Discretionary
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates.
Management & capital allocation
volatileEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Bearish1 positive, 2 negative material events / 30dfor period ending 2026-07-31
Why this setup
Consensus revisions
EPS estimate $2.10 → $2.11 (+0.5% / 30d). 0 raised, 3 cut, 16 covering analysts.
Rating actions
0 upgrades, 0 downgrades / 30d, 6 maintained. 47% of analysts rate Buy.
Price target activity
4 PT revisions / 30d. Avg target 7.4% above current price.
Material events
1 positive, 2 negative / 30d. See F4 management tile for the event list.
Sector context
Intermediate · WeeklySector phase: is in (~0.2 years in phase).
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutralProvisional
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Margin discipline
- neutral
- Post-call reaction
- strong
A guidance track record builds as the company issues and delivers on guidance.
as of 2026-06-12
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$162.
How much price usually moves either way.
On a bad day, this stock has moved -$391.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,642.
Deepest peak-to-trough drop in the last year.
moderateas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceQuartersactive 14d
Watch for operating cash flow growth to continue
Why it matters: Growing cash flow helps the business run and supports plans. It shows the company is financially healthy.
What confirms / what disproves
Confirms:Operating cash flow increases year over year by at least 10% in the next quarter.
Disproves:Operating cash flow declines or grows less than 5% year over year.
Management priorities
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for ASO yet.
This sector is also watching
- Watch for consumer revenue growth dropping below median
- Watch for changes in unemployment claims on June 4
- Watch for retail sales data on June 17
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like WSM, ULTA, and DKS keep beating earnings and guiding higher, the Consumer Discretionary sector momentum should keep lifting ASO and other Consumer Discretionary names. Worth watching these names for early signals.
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for ASO and other Consumer Discretionary names, since rate-sensitive parts of the market tend to rally when the Fed eases.
Downside triggers
- If ASO reverses and cuts guidance after recently raising (RAISED as of 2026-06-09), that's the worst kind of move: a credibility hit on top of the lower number. Stocks usually get punished disproportionately for this.
- If sector bellwethers like WSM, ULTA, and DKS start missing or guiding lower, the Consumer Discretionary tailwind helping ASO and other Consumer Discretionary names could fade. Watch these names for early warning.
- If GDP growth slows materially from the current 2.6% (say, below 2%), it hits ASO and other Consumer Discretionary names harder than the average stock, since the sector is growth-sensitive.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-06-094d agoItem 2.02
of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings with the SEC under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Earnings preannouncement—
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
+1.6 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.