AEO
American Eagle Outfitters, Inc.
AEO's fundamentals are strong and it looks cheap: trading at 11x earnings, below its usual 15x. Analysts expect earnings growth.
AEO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
AEO's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
AEO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.9x | $17.27 | -20% |
| Forward | 10x | $21.67 | — |
| Current | 11x | $21.67 | — |
| Fair | 15x | $29.33 | +35% |
| Expensive | 22x | $42.36 | +95% |
Historical ranges are pointers, not guarantees.
AEO's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
AEO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect AEO's earnings to grow and its profitability to improve, with its revenue holding steady.
AEO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.13 | +11% |
| Q3 2026 | $1.93 | +86% |
| Q2 2026 | $1.59 | +62% |
| Q1 2026 | $1.09 | -35% |
| Q4 2025 | $1.16 | -0.9% |
| Q3 2025 | $1.04 | -17% |
| Q2 2025 | $0.98 | -12% |
| Q1 2025 | $1.68 | +95% |
| Q4 2024 | $1.17 | +3.5% |
AEO earned $1.93 per share over the past year, up 86% from the year before.
AEO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +7.5% |
| Q2 2026 | $1.2B | +9.7% |
| Q1 2026 | $1.8B | +13% |
| Q4 2025 | $1.4B | +5.7% |
| Q3 2025 | $1.3B | -0.6% |
| Q2 2025 | $1.1B | -4.7% |
| Q1 2025 | $1.6B | -4.4% |
| Q4 2024 | $1.3B | -0.9% |
AEO's revenue has grown year over year for four quarters in a row: $1.4B last quarter, up 7.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +7.3 points |
| Q2 2026 | 2.4% | +10 points |
| Q1 2026 | 5.3% | -3.6 points |
| Q4 2025 | 8.3% | 0 points |
| Q3 2025 | 8% | +0.2 points |
| Q2 2025 | -7.8% | -15 points |
| Q1 2025 | 8.9% | +8.3 points |
| Q4 2024 | 8.2% | -1.4 points |
AEO's operating margin was 15% last quarter, up 7.3 points from the same quarter a year ago, near the top of its range since 2019.
AEO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $115.3M | +$158.5M |
| Q2 2026 | -$126.6M | -$10.4M |
| Q1 2026 | $357.3M | +12% |
| Q4 2025 | -$2.5M | +$5.3M |
| Q3 2025 | -$43.1M | -346% |
| Q2 2025 | -$116.3M | -$42M |
| Q1 2025 | $318.9M | +24% |
| Q4 2024 | -$7.8M | -108% |
AEO still generates free cash flow, though less than at its 2023 peak: $343M over the past year.
AEO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -2.2M shares |
| 1 year | -0.9% | -1.5M shares |
| 3 years | -14% | -27M shares |
| 5 years | -18% | -36.4M shares |
| Available history | +0.9% | +1.5M shares |
AEO has 170M diluted shares, down 0.9% from a year ago, with $79M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $53.5M |
| Q1 2026 | $25.6M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $31.3M |
| Q1 2025 | $60M |
| Q4 2024 | — |
AEO spent $79M buying back its own shares over the past year, down 13% from the year before.
AEO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
AEO has more cash than debt.
AEO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.7 | Neutral |
| Stochastic | 85.9 | Overbought |
AEO's weekly RSI is 66 (neutral) and its Stochastic is 86 (overbought).
AEO PE vs Consumer Cyclical Sector
| Metric | AEO | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 18x | 38% below |
| PE % | 32 | 47 | 15 pts below |
AEO is trading at 11x earnings, a 38% discount to the Consumer Cyclical sector's median of 18x.
AEO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.7 | 16% above |
| 20 week MA | $17.4 | 24% above |
| 50 week MA | $19.4 | 12% above |
| 100 week MA | $16.6 | 30% above |
| 200 week MA | $17.4 | 24% above |
AEO has climbed back above all five of its weekly moving averages, and it's now 24% above its 200-week average.
AEO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.5 | $19.8 | +37% |
| 2021 | $19.8 | $23.3 | +17% |
| 2022 | $23.3 | $14.6 | -37% |
| 2023 | $14.6 | $21.2 | +45% |
| 2024 | $21.2 | $16.5 | -22% |
| 2025 | $16.5 | $26.4 | +60% |
| 2026 YTD | $26.4 | $21.7 | -18% |
AEO has finished higher in four of the last six years. It's down 18% so far in 2026.