ASO Academy Sports + Outdoors · $48.39 Neutral — no clear edge中性 — 无明显优势 Terminal终端 ↗

Academy Sports + Outdoors · Consumer Disc.

ASO

$48.39

Academy Sports + Outdoors is an American sporting-goods store chain with corporate offices in the Katy Distribution Center in unincorporated western Harris County, Texas, United States, near Katy and west of Houston.学院体育+户外（AcademySports+Outdoors）是美国体育用品连锁店，公司办公室位于德克萨斯州哈里斯县西部未建制的凯蒂配送中心，邻近凯蒂市并位于休斯顿以西。

Cyclical周期股 Mid cap中盘 $3B

Engine stance引擎立场2026-07-20

Neutral — no clear edge中性 — 无明显优势

Daily low forming, but the bigger trend is still bearish. Small size only; stop below 44.46.日线低点正在形成，但大趋势仍偏空。只适合小仓位；止损设于 44.46 下方。

Engine levels · 52-week range引擎点位 · 52周区间

$48.39

$44.46

$48.39

$52.50

$48.00

$40.01$62.78

Price现价 $48.39Trail stop止损线 $44.46Don't chase勿追高 $48.39Call wall看涨期权墙 $52.50Put wall看跌期权墙 $48.00 Buy zone买入区 $46.57–$47.82

Open in Terminal打开终端 ↗ All coverage所有股票 Data through数据截至 2026-07-20 · regenerated nightly每日更新

Key Statistics关键统计

Price价格

$48.39

20.7% below 52-week high低于52周高点 20.7%

Market Cap市值

$3B

Normal volume正常成交量

P/E Ratio市盈率

8.3x

20.2x sector median

Beta贝塔

1.13

Moves about 1.1x the market波动幅度约为市场的 1.1 倍

RSI (14)RSI（14）

Neutral zone中性区域

Volatility Rank波动率分位

42th pctile

hist. vol. percentile历史波动率分位数

Short Interest空头兴趣

13.0% of float

Performance价格表现

Period周期	ASO	S&P 500	vs Index对比指数
1 Week近1周	+4.5%	-1.5%	Beat the index by 6.0 points跑赢指数 6.0 个百分点
1 Month近1月	-2.2%	+0.6%	Lagged the index by 2.8 points落后指数 2.8 个百分点
3 Months近3月	-17.5%	+4.7%	Lagged the index by 22.2 points落后指数 22.2 个百分点
6 Months近6月	-17.2%	+7.8%	Lagged the index by 25.0 points落后指数 25.0 个百分点
Year to date年初至今	-6.9%	+9.1%	Lagged the index by 16.0 points落后指数 16.0 个百分点
1 Year近1年	-10.1%	+19.4%	Lagged the index by 29.5 points落后指数 29.5 个百分点
3 Years近3年	-10.9%	+69.4%	Lagged the index by 80.3 points落后指数 80.3 个百分点

Technicals技术面

RSI (14)RSI（14） 50 Neutral zone中性区域

vs 50-day相对50日均线 -3.2% vs 50-day avg

vs 200-day相对200日均线 -8.1% vs 200-day avg

Volatility rank波动率分位 42th percentile 分位

Engine reference levels — not advice引擎参考水平 — 非投资建议

Buy zone买入区间

$47.20

Don't chase above不追高于

$48.39

Stop止损

$44.46

Bounce — turn not confirmed; wait反弹 — 转向未确认，先观望

Earnings财务业绩

Estimates roughly stable预期基本稳定

Earnings call transcripts — coming soon财报电话会议记录 — 即将上线

Valuation估值

Multiple指标	ASO	Sector median行业中位	Cheaper than相对便宜
P/E (trailing)市盈率（历史）	8.34x	20.23	93%
P/B市净率	1.45x	2.97	79%
P/S市销率	0.52x	1.23	77%
Earnings yield盈利收益率	11.99%	4.53	94%
FCF yield自由现金流收益率	7.07%	5.69	65%
Shareholder yield股东收益率	6.33%	4.31	72%
EV/EBITDA企业价值/EBITDA	5.19x	11.48	87%
P/FCF市值/自由现金流	14.15x	16.53	61%

Analyst price targets — coming soon分析师目标价 — 即将上线

Financials财务数据

Revenue营业收入

$5.7B

2020

$6.8B

2021

$6.4B

2022

$6.2B

2023

$5.9B

2024

$6.1B

2025

5yr CAGR5年复合增速: 1.2%

Earnings Per Share每股收益

$3.79

2020

$7.12

2021

$7.49

2022

$6.70

2023

$5.73

2024

$5.54

2025

5yr CAGR5年复合增速: 7.9%

Free Cash Flow自由现金流

$970.3M

2020

$597.5M

2021

$443.7M

2022

$328.0M

2023

$328.5M

2024

$222.1M

2025

Margins利润率

Gross margin毛利率

34.8%

Operating margin营业利润率

8.5%

Net margin净利率

6.2%

FCF margin自由现金流利润率

7.2%

17.4%Return on Equity股本回报率

7.1%Return on Assets资产回报率

Leverage杠杆

Net debt / EBITDA净债务/EBITDA	0.24
Current ratio流动比率	1.89

Capital Allocation资本配置

Buybacks (TTM)回购（TTM）	$199.0M
Stock-based comp股权薪酬	$21.2M
Share count change (1y)股数变化（1年）	-5.0%

Piotroski皮奥特罗斯基 7/9 Altman Z阿尔特曼Z: grey (2.8) Clean稳健

Snapshot Gauges综合指标

Valuation vs Sector估值相对行业

Looks cheap vs sector相对行业偏便宜

Cheaper than 80% of its sector on blended multiples综合估值倍数低于行业内 80% 的公司

Beta市场敏感度

1.13×

0.21×3×

Moves about 1.1× the market波动幅度约为市场的 1.1 倍

Financial Health财务健康

7/9

Altman阿尔特曼: grey

Strong financial health财务健康状况良好

Dividend分红

—

Does not pay a dividend不派发股息

Why Is It Moving为何波动

Sector / Theme行业/主题 Retail theme — #24 of 46 themes「零售」主题 — 46 个主题中第 24 位

Macro宏观 Long-duration name into a restrictive, rising-real-rate regime → rate headwind.长久期标的进入偏紧、实际利率上行的环境→利率逆风。

Positioning持仓 Insider cluster activity内部人集中交易

Technical技术面 ASO daily MACD crossed upASO 日线MACD上穿

Options Positioning期权持仓

Market makers are net short gamma — price moves may amplify做市商净持有负伽玛，价格波动可能被放大

Expected daily move预期日波动

±2.62%

Expected weekly move预期周波动

±5.85%

Call wall看涨密集区

$52

Put wall看跌密集区

$48

Gamma flip伽玛翻转

$49

25d risk reversal25d风险逆转

1.6%

Flow资金流向

$0M premium traded; 0% 0DTE; 11 fresh positions; P/C 0.53; net new PUT positioning (defensive / hedging) (ΔOI -689); ~leans bearish (direction approx)成交权利金 $0M；0DTE占0%；11个新建仓；看跌看涨比 0.53；净新增看跌持仓（防御/对冲）（ΔOI -689）；≈偏看跌/对冲（方向近似）

Skew: 偏斜：greed

Ownership & Smart Money持仓与聪明钱

Insider activity内部人员活动: -$1.1M net (0 buyers, 1 sellers)-$1.1M 净值（0 买家，1 卖家）

Signal History信号历史

DOWNTREND → UNCONFIRMED TURN下跌趋势 → 未确认转向

HIGH-RISK · NIMBLE ONLY. A daily bottoming setup is forming (swing low in, momentum turned up) — but the higher timeframes haven't confirmed it: the bigger picture is still bearish (weekly momentum negative; investor cycle failed (broke its start low)). This is an UNCONFIRMED TURN, not a confirmed buy. Weekly confirmation lags price, so this exact reading covers BOTH bounces that fail AND the first leg of a genuine new cycle — you can't tell which in real time, so treat it as a risk/size signal, not a direction call. Measured: weekly-unconfirmed bottoming setups held the low ~49% of the time vs ~68% once the weekly turns up. The daily cycle has also failed (broke its own start low), which tilts the odds toward failure here高风险 · 仅限灵活操作。正在形成日线筑底形态（摆动低点已现、动量转向上行）——但更高周期尚未确认：大局仍偏空（周线动量为负；投资者周期失败（跌破起始低点））。这是「未确认转向」，并非已确认的买入。周线确认滞后于价格，因此同样的读数既涵盖最终失败的反弹，也涵盖真正新周期的第一段——实时无法判定属于哪一种，故应将其视为风险/仓位信号，而非方向判断。实测：周线未确认的筑底形态约 49% 守住低点，周线转向后升至约 68%。日线周期同样已经失败（跌破其自身起始低点），此处概率更偏向失败

COUNTERTREND BOUNCE UNCONFIRMED TURN

Jul 15, 2026

ASO daily MACD crossed upASO 日线MACD上穿

The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $47.22.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$47.22。

Jul 10, 2026

ASO StochRSI turned up from oversoldASO StochRSI自超卖区上行

StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $46.31.StochRSI重回20上方 — 下行动量趋缓的最早预警。$46.31。

Jun 26, 2026

Death cross on ASOASO 死叉

The 50-day average crossed below the 200-day — a slow, widely-watched bearish trend signal. $48.50.50日均线下穿200日均线 — 一个滞后但广受关注的看空趋势信号。$48.50。

Jun 25, 2026

UPTREND → DOWNTREND上涨趋势 → 下跌趋势

AVOID回避

Jun 25, 2026

ASO broke down vs the marketASO 相对市场走弱

Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $48.43.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$48.43。

Jun 25, 2026

ASO daily MACD crossed downASO 日线MACD下穿

The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $48.43.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$48.43。

Jun 24, 2026

NEARING A LOW → UPTREND接近低点 → 上涨趋势

HOLD持有

Jun 23, 2026

UPTREND → NEARING A LOW上涨趋势 → 接近低点

GET READY准备

Jun 23, 2026

ASO broke down vs the marketASO 相对市场走弱

Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $49.70.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$49.70。

Jun 18, 2026

TOPPING → UPTREND做顶中 → 上涨趋势

HOLD持有

Jun 18, 2026

ASO daily MACD crossed upASO 日线MACD上穿

The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $51.82.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$51.82。

Jun 18, 2026

ASO StochRSI turned up from oversoldASO StochRSI自超卖区上行

StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $51.82.StochRSI重回20上方 — 下行动量趋缓的最早预警。$51.82。

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