ASO
Academy Sports and Outdoors, Inc.
ASO offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
EBAY
eBay Inc.
EBAY has a slight edge over ASO overall, supported by lower modeled downside and stronger modeled upside.
ASO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
ASO's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
EBAY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
EBAY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
ASO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.5x | $39.11 | -42% |
| Fair | 8.2x | $48.95 | -27% |
| Expensive | 9.6x | $57.29 | -15% |
| Forward | 9.7x | $67.29 | — |
| Current | 11x | $67.29 | — |
Historical ranges are pointers, not guarantees.
ASO has the edge over EBAY in the historical PE scenario, which offers more potential upside but is not a forecast.
EBAY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $31.50 | -74% |
| Fair | 16x | $71.96 | -40% |
| Forward | 18x | $120 | — |
| Expensive | 22x | $99.04 | -18% |
| Current | 26x | $120 | — |
Historical ranges are pointers, not guarantees.
EBAY's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
ASO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect ASO's earnings to grow, with its revenue and profitability holding steady.
EBAY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Moderate | |
| Moderate |
EBAY has the edge over ASO on the outlook, with more favorable revenue expectations.
ASO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.94 | +16% |
| Q3 2026 | $5.98 | +12% |
| Q2 2026 | $5.66 | +4% |
| Q1 2026 | $5.54 | -4% |
| Q4 2025 | $5.47 | -10% |
| Q3 2025 | $5.34 | -18% |
| Q2 2025 | $5.44 | -17% |
| Q1 2025 | $5.77 | -14% |
| Q4 2024 | $6.09 | -6% |
ASO earned $5.98 per share over the past year, up 12% from the year before.
EBAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.63 | +45% |
| Q3 2026 | $4.57 | +0.4% |
| Q2 2026 | $4.82 | +7.3% |
| Q1 2026 | $4.40 | +6% |
| Q4 2025 | $4.34 | +10% |
| Q3 2025 | $4.55 | +15% |
| Q2 2025 | $4.49 | -12% |
| Q1 2025 | $4.15 | -17% |
| Q4 2024 | $3.94 | -24% |
EBAY has the edge over ASO on earnings, with more consistent year-over-year improvement.
ASO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +3% |
| Q2 2026 | $1.4B | +6.7% |
| Q1 2026 | $1.7B | +2.5% |
| Q4 2025 | $1.4B | +3% |
| Q3 2025 | $1.6B | +3.3% |
| Q2 2025 | $1.4B | -0.9% |
| Q1 2025 | $1.7B | -6.6% |
| Q4 2024 | $1.3B | -3.9% |
ASO's revenue grew through 2022 and has held roughly level since: $1.6B last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +4.2 points |
| Q2 2026 | 5.2% | 0 points |
| Q1 2026 | 9.9% | +0.7 points |
| Q4 2025 | 7.3% | +0.5 points |
| Q3 2025 | 11% | -1.5 points |
| Q2 2025 | 5.1% | -2.4 points |
| Q1 2025 | 9.2% | -2.1 points |
| Q4 2024 | 6.8% | -3 points |
ASO's operating margin was 15% last quarter, up 4.2 points from the same quarter a year ago.
EBAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.2B | +14% |
| Q2 2026 | $3.1B | +15% |
| Q1 2026 | $3.1B | +19% |
| Q4 2025 | $3B | +15% |
| Q3 2025 | $2.8B | +9.5% |
| Q2 2025 | $2.7B | +6.1% |
| Q1 2025 | $2.6B | +1.1% |
| Q4 2024 | $2.6B | +0.7% |
EBAY has the edge over ASO on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -1.2 points |
| Q2 2026 | 22% | +3.8 points |
| Q1 2026 | 20% | -4 points |
| Q4 2025 | 20% | -0.8 points |
| Q3 2025 | 20% | -2.7 points |
| Q2 2025 | 18% | -3.6 points |
| Q1 2025 | 24% | -0.9 points |
| Q4 2024 | 21% | +5.1 points |
EBAY has the edge over ASO on profitability, with a higher operating margin.
ASO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $116.1M | +432% |
| Q2 2026 | $121.7M | +14% |
| Q1 2026 | $107.2M | +40% |
| Q4 2025 | -$13.6M | -139% |
| Q3 2025 | $21.8M | -56% |
| Q2 2025 | $106.6M | -36% |
| Q1 2025 | $76.4M | -57% |
| Q4 2024 | $34.4M | +126% |
ASO still generates free cash flow, though less than at its 2020 peak: $331M over the past year.
EBAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $749M | -6.7% |
| Q2 2026 | $300M | +$741M |
| Q1 2026 | $897M | +39% |
| Q4 2025 | $466M | -17% |
| Q3 2025 | $803M | +24% |
| Q2 2025 | -$441M | -259% |
| Q1 2025 | $644M | +36% |
| Q4 2024 | $560M | +$564M |
EBAY has the edge over ASO on cash flow, with more consistent year-over-year improvement.
ASO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.6% | -2.4M shares |
| 1 year | -6.1% | -4.1M shares |
| 3 years | -19% | -14.5M shares |
| 5 years | -34% | -32.3M shares |
| Available history | -19% | -15M shares |
ASO has the edge over EBAY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $82.1M |
| Q2 2026 | $98.4M |
| Q1 2026 | $99.9M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $99M |
| Q1 2025 | $91.1M |
| Q4 2024 | $53.4M |
ASO spent $280M buying back its own shares over the past year, up 15% from the year before.
EBAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -2M shares |
| 1 year | -3% | -14M shares |
| 3 years | -15% | -79M shares |
| 5 years | -31% | -205M shares |
| Available history | -44% | -359M shares |
EBAY has 453M diluted shares, down 3% from a year ago, with $2.1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $664M |
| Q2 2026 | $323M |
| Q1 2026 | $486M |
| Q4 2025 | $635M |
| Q3 2025 | $626M |
| Q2 2025 | $624M |
| Q1 2025 | $615M |
| Q4 2024 | $911M |
EBAY spent $2.1B buying back its own shares over the past year, down 24% from the year before.
ASO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.3x | Very low |
ASO has the edge over EBAY on leverage, with a lower net debt burden relative to earnings.
EBAY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.9x | Healthy |
EBAY's net debt is about 1.9 years of its operating earnings (EBITDA), up from 1.7 years a year ago.
ASO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.7 | Neutral |
| Stochastic | 88.0 | Overbought |
ASO's weekly RSI is 69 (neutral) and its Stochastic is 88 (overbought).
EBAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.9 | Neutral |
| Stochastic | 80.0 | Overbought |
EBAY's weekly RSI is 62 (neutral) and its Stochastic is 80 (overbought).
ASO PE vs Consumer Cyclical Sector
| Metric | ASO | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 18x | 38% below |
| PE % | 99 | 48 | 51 pts above |
ASO has the edge over EBAY on valuation relative to its sector.
EBAY PE vs Consumer Cyclical Sector
| Metric | EBAY | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 18x | 46% above |
| PE % | 91 | 47 | 44 pts above |
EBAY is trading at 26x earnings, a 46% premium to the Consumer Cyclical sector's median of 18x.
ASO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $58.0 | 16% above |
| 20 week MA | $51.7 | 30% above |
| 50 week MA | $53.6 | 26% above |
| 100 week MA | $50.9 | 32% above |
| 200 week MA | $53.7 | 25% above |
ASO has climbed back above all five of its weekly moving averages, and it's now 25% above its 200-week average.
EBAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.5 | 3.1% above |
| 20 week MA | $112.4 | 6.9% above |
| 50 week MA | $102.6 | 17% above |
| 100 week MA | $89.8 | 34% above |
| 200 week MA | $69.5 | 73% above |
EBAY is in an uptrend: it's above all five of its weekly moving averages, and 73% above its 200-week average.
ASO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.0 | $20.1 | +55% |
| 2021 | $20.1 | $40.1 | +99% |
| 2022 | $40.1 | $51.4 | +28% |
| 2023 | $51.4 | $66.0 | +28% |
| 2024 | $66.0 | $60.1 | -9% |
| 2025 | $60.1 | $50.9 | -15% |
| 2026 YTD | $50.9 | $67.3 | +32% |
ASO has finished higher in four of the last six years, two of them by more than 50%. It's up 32% so far in 2026.
EBAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.1 | $50.1 | +39% |
| 2021 | $50.1 | $64.9 | +29% |
| 2022 | $64.9 | $40.2 | -38% |
| 2023 | $40.2 | $43.6 | +8.6% |
| 2024 | $43.6 | $62.8 | +44% |
| 2025 | $62.8 | $85.2 | +36% |
| 2026 YTD | $85.2 | $120.1 | +41% |
EBAY has the edge over ASO on returns for 2026, with the stronger performance.