Academy Sports and OutdoorsASO -0.79%79 ROC (Joel Greenblatt) % is 12.17% as of Apr. 2026, which is 51% below its 10-year median of 24.95. GuruFocus rates ASO with a GF Score™ of 79/100 and a GF Value™ of $59.46 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,123 Retail - Cyclical companies, Academy Sports and Outdoors ranks better than 66.87% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Academy Sports and Outdoors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 12.17%.
The historical rank and industry rank for Academy Sports and Outdoors's ROC (Joel Greenblatt) % or its related term are showing as below:
ASO'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12.32 Med: 24.95 Max: 57.94
Current: 21.42
During the past 9 years, Academy Sports and Outdoors's highest ROC (Joel Greenblatt) % was 57.94%. The lowest was 12.32%. And the median was 24.95%.
ASO's ROC (Joel Greenblatt) % is ranked better than 66.87% of 1123
companies
in the Retail - Cyclical industry
Industry Median: 11.57
vs ASO: 21.42
Academy Sports and Outdoors (NAS:ASO) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Academy Sports and Outdoors ROC (Joel Greenblatt) % Chart
ASO vs RH, MNSO, BOBS: ROC (Joel Greenblatt) % Comparison
For the Specialty Retail subindustry, Academy Sports and Outdoors's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Academy Sports and Outdoors ROC (Joel Greenblatt) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Academy Sports and Outdoors's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Academy Sports and Outdoors's ROC (Joel Greenblatt) % falls into.
Academy Sports and Outdoors ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 12.17% mean?
Academy Sports and Outdoors (ASO) has a ROC (Joel Greenblatt) % of 12.17% as of Apr. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Academy Sports and Outdoors and its competitors. This is 51% below median its historical median of 24.95. Over the past decade, Academy Sports and Outdoors' ROC (Joel Greenblatt) % has ranged from 12.32 to 57.94. According to the industry distribution chart, Academy Sports and Outdoors ranks #372 out of 1123 companies in the Retail - Cyclical industry, placing it in the top 33.1%.
Is Academy Sports and Outdoors' ROC (Joel Greenblatt) % too high?
Academy Sports and Outdoors' current ROC (Joel Greenblatt) % of 12.17% is 51% below median its 10-year median of 24.95. Over the past 10 years, this metric has ranged from a low of 12.32 to a high of 57.94. The Retail - Cyclical industry median ROC (Joel Greenblatt) % is 11.57. Academy Sports and Outdoors' value of 12.17% is 5.2% above this industry median. Based on the distribution chart, Academy Sports and Outdoors ranks #372 out of 1123 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Academy Sports and Outdoors has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Academy Sports and Outdoors' ROC (Joel Greenblatt) % compare to RH and MNSO?
According to the Retail - Cyclical industry distribution chart, Academy Sports and Outdoors ranks #372 out of 1123 companies for ROC (Joel Greenblatt) %. This puts Academy Sports and Outdoors in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.57. Academy Sports and Outdoors' value of 12.17% is 5.2% above this benchmark. Historically, Academy Sports and Outdoors' own ROC (Joel Greenblatt) % has ranged from 12.32 to 57.94 over the past decade. While the company's 10-year median is 24.95 vs. the industry median of 11.57, Academy Sports and Outdoors has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Retail - Cyclical company?
The median ROC (Joel Greenblatt) % among Retail - Cyclical companies is 11.57, based on 1,123 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Academy Sports and Outdoors's current ROC (Joel Greenblatt) % of 12.17% is 5.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Academy Sports and Outdoors and its competitors. For the Retail - Cyclical industry, the median ROC (Joel Greenblatt) % is 11.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Academy Sports and Outdoors's current ROC (Joel Greenblatt) % is 12.17%, which is 51% below median its own 10-year median of 24.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Academy Sports and Outdoors stock overvalued right now?
Based on GuruFocus' analysis, Academy Sports and Outdoors (ASO) is currently considered Modestly Undervalued. The stock's GF Value™ is $59.46, compared to a current price of $46.75 — trading 21.4% below its estimated fair value. The current ROC (Joel Greenblatt) % is 12.17%, which is 51% below median its 10-year median of 24.95 and 5.2% above the Retail - Cyclical industry median of 11.57. Academy Sports and Outdoors' overall GF Score™ is 79/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Academy Sports and Outdoors (ASO), the current ROC (Joel Greenblatt) % is 12.17% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Academy Sports and Outdoors (ASO) Overvalued in 2026?
Based on GuruFocus' analysis, Academy Sports and Outdoors stock appears to be undervalued.
The current stock price of $46.75 is trading 21.4% below its estimated GF Value™ of $59.46.
GuruFocus considers Academy Sports and Outdoors to be Modestly Undervalued.
Key valuation signals for ASO:
ROC (Joel Greenblatt) %: 12.17% (51% below median its 10-year median of 24.95)
GF Value™: $59.46 vs. price of $46.75 (21.4% below fair value)
Industry Position: 5.2% above the Retail - Cyclical median (#372 of 1123)
No single metric tells the full story. See the ASO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Academy Sports and Outdoors Inc is engaged in the full-line sporting goods and outdoor recreation retailer in the United States. The company's product categories are outdoors, apparel, sports & recreation, and footwear.
79GF Score
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