ASO Academy Sports and Outdoors, Inc. - Common Stock
$47.60
Price · Aug 19, 2026
Fundamentals as of Jun 10, 2026
52W Range
$41–$62
30% of range
Analyst Rating
HOLD
23 analysts
Price Target
$60
+26% upside
P/E (TTM)
8.6
ROE
17.7%
Net Profit Margin
6.2%
ASO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$47.59
Market Cap
$3.09B
P/E (TTM)
8.6
EPS (TTM)
$5.54
Revenue (TTM)
$6.05B
Div Yield
1.1%
ROE
17.7%
Debt/Equity
0.2
52W Range
$41 – $62
ASO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$6.05B
2024-02-03
→
2026-01-31
EPS
$5.54
2024-02-03
→
2026-01-31
Free Cash Flow
$222M
2024-02-03
→
2026-01-31
Margins
6.2%
2024-02-03
→
2026-01-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ASO
Peer Median
P/E (TTM)
8.6
21.3
P/S (TTM)
0.5
0.8
P/B
1.4
6.1
EV / EBITDA
5.1
—
Price / FCF
13.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ASO
Peer Median
Gross Margin
34.8%
46.0%
Operating Margin
8.5%
—
Net Profit Margin
6.2%
5.6%
ROA
7.4%
7.0%
ROE
17.7%
22.0%
ROIC
14.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ASO
Peer Median
Debt / Equity
0.2
—
Current Ratio
1.9
1.8
Quick Ratio
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ASO
Peer Median
Revenue YoY
2.0%
—
Revenue CAGR 3Y
-1.8%
—
Revenue CAGR 5Y
1.2%
—
EPS YoY
-3.3%
—
Net Income YoY
-10.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ASO
Peer Median
Payout Ratio
9.2%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.1%
Payout Ratio
9.2%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 18, 2026 | $0.1500 |
| March 20, 2026 | $0.1500 |
| Dec. 18, 2025 | $0.1300 |
| Sept. 11, 2025 | $0.1300 |
| June 18, 2025 | $0.1300 |
| March 25, 2025 | $0.1300 |
| Dec. 18, 2024 | $0.1100 |
| Sept. 19, 2024 | $0.1100 |
| June 20, 2024 | $0.1100 |
| March 25, 2024 | $0.1100 |
| Dec. 12, 2023 | $0.0900 |
| Sept. 12, 2023 | $0.0900 |
| June 14, 2023 | $0.0900 |
| March 22, 2023 | $0.0900 |
| Dec. 19, 2022 | $0.0750 |
| Sept. 14, 2022 | $0.0750 |
| June 15, 2022 | $0.0750 |
| March 16, 2022 | $0.0750 |
ASO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
23 analysts
- Strong Buy 6 26.1%
- Buy 6 26.1%
- Hold 11 47.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
19 analysts · 2026-08-18
Median
$59.00
← Below all targets
$47.59
Low
$50.00
High
$78.00
Median target
$59.00
+24.0%
Mean target
$60.05
+26.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.05%
Next Report
Aug 31, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $0.93 | $0.92 | — |
| June 30, 2026 | $0.93 | $0.92 | 0.01% |
| March 31, 2026 | $1.97 | $2.09 | -0.12% |
| Dec. 31, 2025 | $1.14 | $1.07 | 0.07% |
| Sept. 30, 2025 | $1.94 | $2.18 | -0.24% |
| June 30, 2025 | $0.76 | $0.91 | -0.15% |
| March 31, 2025 | $1.96 | $1.85 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ASO | $3.65B | 10.1 | 2.0% | 6.2% | 17.7% | 34.8% |
| DKS | — | 20.3 | 28.1% | 4.9% | 19.1% | 32.9% |
| FIVE | $10.50B | 29.4 | 22.9% | 7.5% | 17.5% | — |
| CHWY | $12.08B | 56.0 | 6.2% | 1.8% | 50.2% | 29.8% |
| BBWI | $4.38B | 7.0 | -0.22% | 8.9% | -48.7% | 43.7% |
| WRBY | — | 2179.0 | 13.0% | 0.19% | 0.45% | 54.0% |
| SBH | $1.59B | 8.6 | -0.42% | 5.3% | 26.2% | 51.6% |
| EYE | $2.06B | 70.1 | 9.0% | 1.5% | 3.4% | — |
| WINA | $1.47B | 36.3 | 5.9% | 48.4% | -92.0% | — |
| HZO | $554M | -17.7 | -5.0% | -1.4% | -3.3% | 32.5% |
| UPBD | $2.27B | 14.0 | 8.7% | 1.6% | 11.1% | 48.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Revenue | $6.05B | · | · | · | · | |
| Cost of Revenue | $3.95B | · | · | · | · | |
| Gross Profit | $2.11B | · | · | · | · | |
| SG&A Expense | $1.59B | · | · | · | · | |
| Operating Income | $512M | · | · | · | · | |
| Other Non-op | $10M | · | · | · | · | |
| Pretax Income | $486M | · | · | · | · | |
| Income Tax | $109M | · | · | · | · | |
| Net Income | $377M | · | · | · | · | |
| EPS (Basic) | $5.66 | · | · | · | · | |
| EPS (Diluted) | $5.54 | · | · | · | · | |
| Shares (Basic) | 66,612,000 | · | · | · | · | |
| Shares (Diluted) | 68,034,000 | · | · | · | · | |
| EBITDA | $635M | · | · | · | · |
Balance Sheet 26
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $330M | $285M | $325M | $311M | $400M | |
| Receivables | $35M | $17M | $13M | $15M | $15M | |
| Inventory | $1.50B | $1.56B | $1.37B | $1.31B | $1.30B | |
| Prepaid Expense | $82M | $60M | $108M | $80M | $46M | |
| Current Assets | $1.95B | $1.92B | $1.81B | $1.72B | $1.77B | |
| PP&E (Net) | $584M | $551M | $471M | $405M | $351M | |
| PP&E (Gross) | $2.08B | $1.96B | $1.79B | $1.61B | $1.47B | |
| Accum. Depreciation | $1.49B | $1.40B | $1.32B | $1.21B | $1.12B | |
| Goodwill | $862M | $862M | $862M | $862M | $862M | |
| Intangibles | $580M | $579M | $579M | $578M | $577M | |
| Other Non-current Assets | $63M | $56M | $48M | $24M | $10M | |
| Total Assets | $5.28B | $5.18B | $4.87B | $4.68B | $4.65B | |
| Accounts Payable | $638M | $850M | $705M | $670M | $778M | |
| Current Liabilities | $1.03B | $1.26B | $1.09B | $1.02B | $1.12B | |
| Capital Leases | $1.26B | $1.21B | $1.08B | $1.06B | $1.08B | |
| Deferred Tax | $301M | $256M | $253M | $261M | $235M | |
| Other Non-current Liabilities | $31M | $22M | $11M | $12M | $13M | |
| Total Liabilities | $3.11B | $3.23B | $2.92B | $2.94B | $3.13B | |
| Long-term Debt | $484M | $485M | $487M | $587M | $686M | |
| Total Debt | $484M | · | · | · | · | |
| Common Stock | $649.0K | $662.0K | $709.0K | $748.0K | $797.0K | |
| Paid-in Capital | $256M | $244M | $245M | $237M | $197M | |
| Retained Earnings | $1.91B | $1.70B | $1.71B | $1.50B | $1.32B | |
| Stockholders' Equity | $2.17B | $1.95B | $1.95B | $1.74B | $1.52B | |
| Liabilities + Equity | $5.28B | $5.18B | $4.87B | $4.68B | $4.65B | |
| Shares Outstanding | 64,945,953 | 66,466,377 | 70,916,000 | 74,846,000 | 79,725,000 |
Cash Flow 14
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| D&A | $123M | · | · | · | · | |
| Stock-based Comp | $21M | · | · | · | · | |
| Deferred Tax | $89M | · | · | · | · | |
| Other Non-cash | $-175M | · | · | · | · | |
| Operating Cash Flow | $435M | · | · | · | · | |
| CapEx | $213M | · | · | · | · | |
| Investing Cash Flow | $-172M | · | · | · | · | |
| Stock Repurchased | $199M | · | · | · | · | |
| Net Stock Activity | $-199M | · | · | · | · | |
| Dividends Paid | $35M | · | · | · | · | |
| Financing Cash Flow | $-221M | · | · | · | · | |
| Net Change in Cash | $41M | · | · | · | · | |
| Taxes Paid | $38M | · | · | · | · | |
| Free Cash Flow | $222M | · | · | · | · |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Gross Margin | 34.8% | · | · | · | · | |
| Operating Margin | 8.5% | · | · | · | · | |
| Net Margin | 6.2% | · | · | · | · | |
| Pretax Margin | 8.0% | · | · | · | · | |
| EBITDA Margin | 10.5% | · | · | · | · | |
| ROA | 7.4% | · | · | · | · | |
| ROE | 17.7% | · | · | · | · | |
| ROIC | 14.9% | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | · | · | · | · | |
| Quick Ratio | 0.4 | · | · | · | · | |
| Debt / Equity | 0.2 | · | · | · | · | |
| LT Debt / Equity | 0.2 | · | · | · | · |
Efficiency 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Asset Turnover | 1.2 | · | · | · | · | |
| Inventory Turnover | 2.8 | · | · | · | · | |
| Receivables Turnover | 235.0 | · | · | · | · |
Growth Rates 9
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Revenue YoY | 2.0% | · | · | · | · | |
| Revenue CAGR 3Y | -1.8% | · | · | · | · | |
| Revenue CAGR 5Y | 1.2% | · | · | · | · | |
| EPS YoY | -3.3% | · | · | · | · | |
| EPS CAGR 3Y | -9.6% | · | · | · | · | |
| EPS CAGR 5Y | 7.9% | · | · | · | · | |
| Net Income YoY | -10.0% | · | · | · | · | |
| Net Income CAGR 3Y | -15.7% | · | · | · | · | |
| Net Income CAGR 5Y | 4.1% | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Revenue TTM | $6.05B | · | · | · | · | |
| Net Income TTM | $377M | · | · | · | · | |
| Market Cap | $3.65B | · | · | · | · | |
| Enterprise Value | $3.80B | · | · | · | · | |
| P/E | 10.1 | · | · | · | · | |
| P/S | 0.6 | · | · | · | · | |
| P/B | 1.7 | · | · | · | · | |
| P / Tangible Book | 5.0 | · | · | · | · | |
| P / Cash Flow | 8.4 | · | · | · | · | |
| P / FCF | 16.4 | · | · | · | · | |
| EV / EBITDA | 6.0 | · | · | · | · | |
| EV / FCF | 17.1 | · | · | · | · | |
| EV / Revenue | 0.6 | · | · | · | · | |
| Dividend Yield | 0.95% | · | · | · | · | |
| Earnings Yield | 9.9% | · | · | · | · | |
| Payout Ratio | 9.2% | · | · | · | · | |
| Annual Payout | $35M | · | · | · | · |
Income Statement 14
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.72B | $1.38B | $1.60B | $1.68B | $1.34B | $1.55B | $1.36B | $1.79B | $1.40B | $1.58B | $1.38B | $1.75B | $1.49B | $1.69B | |
| Cost of Revenue | $963M | $1.14B | $890M | $1.02B | $1.14B | $887M | $990M | $908M | $1.20B | $915M | $1.02B | $916M | $1.17B | $971M | $1.09B | |
| Gross Profit | $479M | $577M | $493M | $577M | $540M | $457M | $559M | $456M | $597M | $483M | $563M | $467M | $573M | $522M | $596M | |
| SG&A Expense | $405M | $406M | $393M | $404M | $386M | $365M | $369M | $353M | $393M | $346M | $352M | $341M | $368M | $343M | $339M | |
| Operating Income | $75M | $170M | $100M | $172M | $155M | $91M | $190M | $102M | $204M | $137M | $211M | $126M | $205M | $180M | $257M | |
| Other Non-op | $3M | $3M | $3M | $1M | $20M | $6M | $6M | $5M | $21M | $4M | $4M | $4M | $15M | $3M | $1M | |
| Pretax Income | $69M | $164M | $94M | $165M | $165M | $89M | $187M | $98M | $211M | $130M | $203M | $119M | $206M | $170M | $247M | |
| Income Tax | $16M | $30M | $22M | $39M | $32M | $23M | $44M | $21M | $43M | $30M | $46M | $25M | $48M | $38M | $58M | |
| Net Income | $53M | $134M | $72M | $125M | $134M | $66M | $143M | $76M | $168M | $100M | $157M | $94M | $158M | $132M | $189M | |
| EPS (Basic) | $0.82 | $2.02 | $1.07 | $1.89 | $1.91 | $0.94 | $1.99 | $1.03 | $2.27 | $1.34 | $2.06 | $1.22 | $2.02 | $1.67 | $2.28 | |
| EPS (Diluted) | $0.80 | $1.97 | $1.05 | $1.85 | $1.85 | $0.92 | $1.95 | $1.01 | $2.19 | $1.31 | $2.01 | $1.19 | $1.96 | $1.62 | $2.22 | |
| Shares (Basic) | 64,432,000 | -158,000 | 66,647,000 | 66,539,000 | -144,798,000 | 70,319,000 | 71,829,000 | 73,993,000 | -152,038,000 | 74,461,000 | 76,104,000 | 76,862,000 | -167,113,000 | 79,085,000 | 82,960,000 | |
| Shares (Diluted) | 65,945,000 | -62,000 | 67,963,000 | 67,689,000 | -147,813,000 | 71,774,000 | 73,289,000 | 75,798,000 | -155,967,000 | 76,057,000 | 78,091,000 | 79,288,000 | -171,004,000 | 81,379,000 | 84,906,000 | |
| EBITDA | $105M | · | $100M | $172M | · | $91M | $190M | $131M | · | $137M | $211M | $152M | · | $180M | $257M |
Balance Sheet 27
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $338M | $330M | $289M | $301M | $289M | $296M | $325M | $378M | · | $275M | $311M | $296M | · | $318M | $400M | |
| Receivables | $18M | $35M | $18M | $19M | $17M | $18M | $13M | $14M | · | $18M | $15M | $10M | · | $16M | $15M | |
| Inventory | $1.65B | $1.50B | $1.70B | $1.59B | $1.31B | $1.52B | $1.37B | $1.36B | · | $1.49B | $1.31B | $1.39B | · | $1.50B | $1.30B | |
| Prepaid Expense | $93M | $82M | $65M | $78M | $96M | $69M | $108M | $68M | · | $111M | $80M | $35M | · | $44M | $46M | |
| Current Assets | $2.11B | $1.95B | $2.09B | $1.99B | $1.71B | $1.91B | $1.81B | $1.82B | · | $1.90B | $1.72B | $1.73B | · | $1.88B | $1.77B | |
| PP&E (Net) | $603M | $584M | $591M | $584M | $525M | $503M | $471M | $457M | · | $430M | $405M | $365M | · | $354M | $351M | |
| PP&E (Gross) | $2.12B | $2.08B | $2.05B | $2.01B | $1.90B | $1.85B | $1.79B | $1.75B | · | $1.67B | $1.61B | $1.55B | · | $1.50B | $1.47B | |
| Accum. Depreciation | $1.52B | $1.49B | $1.46B | $1.43B | $1.37B | $1.34B | $1.32B | $1.30B | · | $1.24B | $1.21B | $1.19B | · | $1.14B | $1.12B | |
| Goodwill | $862M | $862M | $862M | $862M | $862M | $862M | $862M | $862M | · | $862M | $862M | $862M | · | $862M | $862M | |
| Intangibles | $580M | $580M | $580M | $579M | $579M | $579M | $579M | $578M | · | $578M | $578M | $578M | · | $578M | $577M | |
| Other Non-current Assets | $63M | $63M | $61M | $59M | $52M | $51M | $48M | $44M | · | $29M | $24M | $21M | · | $13M | $10M | |
| Total Assets | $5.50B | $5.28B | $5.41B | $5.28B | $4.90B | $5.09B | $4.87B | $4.87B | · | $4.92B | $4.68B | $4.64B | · | $4.78B | $4.65B | |
| Accounts Payable | $826M | $638M | $794M | $803M | $612M | $764M | $705M | $736M | · | $820M | $670M | $713M | · | $841M | $778M | |
| Current Liabilities | $1.26B | $1.03B | $1.23B | $1.21B | $961M | $1.21B | $1.09B | $1.12B | · | $1.17B | $1.02B | $1.05B | · | $1.19B | $1.12B | |
| Capital Leases | $1.32B | $1.26B | $1.26B | $1.22B | $1.19B | $1.17B | $1.08B | $1.10B | · | $1.10B | $1.06B | $1.06B | · | $1.09B | $1.08B | |
| Deferred Tax | $299M | $301M | $273M | $271M | $257M | $251M | $253M | $253M | · | $265M | $261M | $257M | · | $243M | $235M | |
| Other Non-current Liabilities | $31M | $31M | $27M | $19M | $11M | $11M | $11M | $10M | · | $12M | $12M | $12M | · | $13M | $13M | |
| Total Liabilities | $3.38B | $3.11B | $3.27B | $3.20B | $2.90B | $3.13B | $2.92B | $2.97B | · | $3.13B | $2.94B | $2.96B | · | $3.22B | $3.13B | |
| Long-term Debt | $483M | $484M | $484M | $485M | $486M | $486M | $487M | $487M | · | $586M | $587M | $587M | · | $686M | $686M | |
| Total Debt | · | · | $484M | $485M | · | $486M | $487M | $487M | · | $586M | $587M | $587M | · | $686M | $686M | |
| Common Stock | $635.0K | $649.0K | $667.0K | $666.0K | $683.0K | $699.0K | $709.0K | $726.0K | · | $741.0K | $748.0K | $764.0K | · | $779.0K | $797.0K | |
| Paid-in Capital | $255M | $256M | $264M | $256M | $247M | $246M | $245M | $241M | · | $239M | $237M | $230M | · | $204M | $197M | |
| Retained Earnings | $1.87B | $1.91B | $1.88B | $1.82B | $1.76B | $1.72B | $1.71B | $1.66B | · | $1.55B | $1.50B | $1.45B | · | $1.35B | $1.32B | |
| AOCI | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Stockholders' Equity | $2.12B | $2.17B | $2.15B | $2.08B | $2.00B | $1.96B | $1.95B | $1.91B | $1.95B | $1.79B | $1.74B | $1.68B | $1.63B | $1.56B | $1.52B | |
| Liabilities + Equity | $5.50B | $5.28B | $5.41B | $5.28B | $4.90B | $5.09B | $4.87B | $4.87B | · | $4.92B | $4.68B | $4.64B | · | $4.78B | $4.65B | |
| Shares Outstanding | 63,507,116 | 64,945,953 | 66,676,966 | 66,625,266 | 68,332,961 | 69,932,128 | 70,915,916 | 72,590,530 | 74,350,000 | 74,143,759 | 74,845,563 | 76,439,594 | 76,712,000 | 77,959,530 | 79,725,034 |
Cash Flow 14
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $31M | $31M | $31M | · | $31M | $29M | · | $29M | $32M | $27M | $26M | $26M | $28M | $27M | $26M | |
| Stock-based Comp | $11M | $-2M | $8M | · | $6M | $6M | · | $6M | $-2M | $6M | $9M | $11M | $6M | $6M | $6M | |
| Deferred Tax | $-1M | $73M | $2M | · | $42M | $-2M | · | $-2M | $-10M | $4M | $4M | $-2M | $16M | $8M | $11M | |
| Other Non-cash | $67M | · | · | · | · | · | · | $90M | · | · | · | $-78M | · | · | · | |
| Operating Cash Flow | $161M | $150M | $49M | · | $140M | $97M | · | $200M | $235M | $57M | $191M | $52M | $243M | $51M | $161M | |
| CapEx | $39M | $43M | $63M | · | $64M | $62M | · | $32M | $56M | $42M | $69M | $40M | $29M | $31M | $31M | |
| Investing Cash Flow | $-39M | $-6M | $-58M | · | $-50M | $-63M | · | $-32M | $-56M | $-42M | $-67M | $-41M | $-29M | $-32M | $-31M | |
| Stock Repurchased | $98M | $100M | $0 | · | $91M | $53M | · | $122M | $3M | $44M | $106M | $50M | $100M | $101M | $200M | |
| Net Stock Activity | $-98M | · | · | · | · | · | · | $-122M | · | · | · | $-50M | · | · | · | |
| Dividends Paid | $10M | $9M | $9M | · | $8M | $8M | · | $8M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | |
| Financing Cash Flow | $-114M | $-103M | $-2M | · | $-98M | $-63M | · | $-137M | $-106M | $-52M | $-108M | $-53M | $-195M | $-101M | $-203M | |
| Net Change in Cash | $7M | $41M | $-11M | · | $-7M | $-29M | · | $30M | $73M | $-37M | $16M | $-42M | $19M | $-82M | $-73M | |
| Taxes Paid | $104.0K | $-195.0K | $4M | · | $43M | $0 | · | $11.0K | $26M | $37M | $69M | $67.0K | $39M | $40M | $89M | |
| Free Cash Flow | $122M | · | · | · | · | · | · | $167M | · | · | · | $12M | · | · | · |
Profitability 8
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | · | 35.7% | 36.0% | · | 34.0% | 36.1% | 33.4% | · | 34.5% | 35.6% | 33.8% | · | 35.0% | 35.3% | |
| Operating Margin | 5.2% | · | 7.3% | 10.8% | · | 6.8% | 12.3% | 7.5% | · | 9.8% | 13.3% | 9.1% | · | 12.0% | 15.2% | |
| Net Margin | 3.6% | · | 5.2% | 7.8% | · | 4.9% | 9.2% | 5.6% | · | 7.1% | 9.9% | 6.8% | · | 8.8% | 11.2% | |
| Pretax Margin | 4.8% | · | 6.8% | 10.3% | · | 6.6% | 12.0% | 7.2% | · | 9.3% | 12.8% | 8.6% | · | 11.4% | 14.6% | |
| EBITDA Margin | 7.3% | · | 7.3% | 10.8% | · | 6.8% | 12.3% | 9.6% | · | 9.8% | 13.3% | 11.0% | · | 12.0% | 15.2% | |
| ROA | · | · | 1.4% | 2.5% | · | 1.3% | 3.0% | 1.6% | · | 2.1% | 3.4% | 2.0% | · | 2.8% | 4.1% | |
| ROE | · | · | 3.5% | 6.2% | · | 3.5% | 7.7% | 4.3% | · | 6.0% | 9.6% | 5.9% | · | 9.0% | 12.7% | |
| ROIC | · | · | 2.9% | 5.1% | · | 2.8% | 6.0% | 3.4% | · | 4.4% | 7.0% | 4.4% | · | 6.2% | 8.9% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | 1.7 | 1.6 | · | 1.6 | 1.7 | 1.6 | · | 1.6 | 1.7 | 1.6 | · | 1.6 | 1.6 | |
| Quick Ratio | · | · | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.3 | 0.3 | · | 0.3 | 0.4 | |
| Debt / Equity | · | · | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.5 | |
| LT Debt / Equity | · | · | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.4 |
Efficiency 3
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.4 | |
| Inventory Turnover | · | · | 0.6 | 0.7 | · | 0.6 | 0.7 | 0.7 | · | 0.6 | 0.8 | 0.7 | · | 0.7 | 0.9 | |
| Receivables Turnover | · | · | 77.7 | 100.0 | · | 75.0 | 112.9 | 113.2 | · | 82.9 | 108.6 | 119.9 | · | 105.3 | 133.3 |
Valuation (TTM) 15
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.78B | · | $6.01B | $5.97B | · | · | $5.68B | $5.71B | · | $6.11B | $6.21B | $6.31B | · | $6.46B | $6.56B | |
| Net Income TTM | $296M | · | · | · | · | · | $395M | $410M | · | $509M | $540M | $572M | · | $612M | $642M | |
| Market Cap | · | · | $3.19B | $3.28B | · | $3.54B | $3.48B | $4.17B | · | $3.21B | $4.39B | $4.86B | · | $3.47B | $3.43B | |
| Enterprise Value | · | · | $3.39B | $3.47B | · | $3.73B | $3.65B | $4.28B | · | $3.52B | $4.67B | $5.15B | · | $3.84B | $3.72B | |
| P/E | 12.3 | · | 8.8 | 9.2 | · | · | 9.3 | 10.7 | · | 6.7 | 8.6 | 9.1 | · | 6.3 | 6.0 | |
| P/S | · | · | 0.5 | 0.5 | · | · | 0.6 | 0.7 | · | 0.5 | 0.7 | 0.8 | · | 0.5 | 0.5 | |
| P/B | · | · | 1.5 | 1.6 | · | 1.8 | 1.8 | 2.2 | · | 1.8 | 2.5 | 2.9 | · | 2.2 | 2.3 | |
| P / Tangible Book | · | · | 4.5 | 5.2 | · | 6.8 | 6.8 | 9.0 | · | 9.1 | 14.7 | 20.1 | · | 29.1 | 41.8 | |
| P / Cash Flow | · | · | · | · | · | · | · | 20.9 | · | · | · | 93.1 | · | · | · | |
| P / FCF | · | · | · | · | · | · | · | 24.9 | · | · | · | 416.0 | · | · | · | |
| EV / EBITDA | · | · | 33.7 | 20.1 | · | 40.8 | 19.2 | 32.6 | · | 25.7 | 22.1 | 33.8 | · | 21.4 | 14.5 | |
| EV / FCF | · | · | · | · | · | · | · | 25.5 | · | · | · | 441.0 | · | · | · | |
| EV / Revenue | · | · | 0.6 | 0.6 | · | · | 0.6 | 0.7 | · | 0.6 | 0.8 | 0.8 | · | 0.6 | 0.6 | |
| Earnings Yield | 8.1% | · | 11.4% | 10.8% | · | · | 10.7% | 9.3% | · | 15.0% | 11.6% | 11.0% | · | 15.9% | 16.7% | |
| Payout Ratio | 18.3% | · | · | · | · | · | · | 10.7% | · | · | · | 7.4% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Revenue | $6.05B | — | $5.93B | — | — |
| Gross Margin % | 34.8% | — | 33.9% | — | — |
| Operating Margin % | 8.5% | — | 9.1% | — | — |
| Net Income | $377M | — | $418M | — | — |
| Diluted EPS | $5.54 | — | $5.73 | — | — |
Balance Sheet
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | — | 0.2 | — | — |
| Current Ratio | 1.9 | — | 1.8 | — | — |
| Quick Ratio | 0.4 | — | 0.3 | — | — |
Cash Flow
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Free Cash Flow | $222M | — | $328M | — | — |
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Institutional owners (13F) 397 filers · $2.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 62 (-2 vs prior Q) | 46 (-10 vs prior Q) | 123 (-3 vs prior Q) | 117 (-5 vs prior Q) | +2.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $291,511,115 | 6,185,256 | 11.97% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $182,781,783 | 3,878,247 | 7.50% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $180,174,785 | 3,822,932 | 7.40% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $137,021,850 | 2,907,317 | 5.63% | Shares |
| STATE STREET CORP | $129,000,539 | 2,728,331 | 5.30% | Shares |
| AMERICAN CENTURY COMPANIES INC | $112,130,989 | 2,379,185 | 4.60% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $92,685,312 | 1,966,189 | 3.81% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $70,983,482 | 1,506,121 | 2.91% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $67,620,851 | 1,434,773 | 2.78% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $61,206,600 | 1,298,676 | 2.51% | Shares |
| ROYCE & ASSOCIATES LP | $51,118,141 | 1,084,620 | 2.10% | Shares |
| Allianz Asset Management GmbH | $45,302,864 | 961,232 | 1.86% | Shares |
| Hood River Capital Management LLC | $42,013,284 | 891,434 | 1.72% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $39,062,758 | 828,830 | 1.60% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $35,857,000 | 760,800 | 1.47% | Shares |
| Stephens Investment Management Group LLC | $34,934,547 | 741,238 | 1.43% | Shares |
| Maple Rock Capital Partners Inc. | $27,637,032 | 586,400 | 1.13% | Shares |
| HEARTLAND ADVISORS INC | $26,578,539 | 563,941 | 1.09% | Shares |
| Qube Research & Technologies Ltd | $26,243,822 | 556,839 | 1.08% | Shares |
| GREATMARK INVESTMENT PARTNERS, INC. | $24,462,685 | 519,047 | 1.00% | Shares |
| J. Goldman & Co LP | $23,565,000 | 500,000 | 0.97% | Call option |
| NORGES BANK | $22,722,268 | 482,119 | 0.93% | Shares |
| J. Goldman & Co LP | $22,320,768 | 473,600 | 0.92% | Shares |
| VANGUARD GROUP INC | $21,169,401 | 423,727 | 0.87% | Shares |
| Pacifica Capital Investments, LLC | $20,523,041 | 435,456 | 0.84% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $20,127,573 | 427,065 | 0.83% | Shares |
| Hodges Capital Management Inc. | $15,576,728 | 330,506 | 0.64% | Shares |
| GOLDMAN SACHS GROUP INC | $14,829,679 | 314,655 | 0.61% | Shares |
| Point72 Asset Management, L.P. | $14,680,665 | 311,493 | 0.60% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $14,629,435 | 310,406 | 0.60% | Shares |
| Darwins River Capital, LP | $14,508,311 | 307,836 | 0.60% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $12,911,796 | 273,961 | 0.53% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $12,752,860 | 270,589 | 0.52% | Shares |
| Baird Financial Group, Inc. | $12,723,548 | 269,967 | 0.52% | Shares |
| MARSHALL WACE, LLP | $12,525,976 | 265,775 | 0.51% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $12,328,030 | 261,575 | 0.51% | Shares |
| CRAWFORD INVESTMENT COUNSEL INC | $11,412,484 | 242,149 | 0.47% | Shares |
| Brandywine Global Investment Management, LLC | $11,191,689 | 224,013 | 0.46% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,132,106 | 236,200 | 0.46% | Call option |
| DEPRINCE RACE & ZOLLO INC | $10,920,253 | 193,450 | 0.45% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,750,353 | 228,100 | 0.44% | Put option |
| FRANKLIN RESOURCES INC | $10,688,236 | 226,782 | 0.44% | Shares |
| Public Sector Pension Investment Board | $10,443,867 | 221,597 | 0.43% | Shares |
| Glenmede Investment Management, LP | $10,336,182 | 206,641 | 0.42% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $10,303,372 | 218,616 | 0.42% | Shares |
| California Public Employees Retirement System | $9,242,853 | 196,114 | 0.38% | Shares |
| GLENMEDE TRUST CO NA | $9,228,808 | 195,816 | 0.38% | Shares |
| BANK OF AMERICA CORP /DE/ | $9,206,233 | 195,337 | 0.38% | Shares |
| Bastion Asset Management Inc. | $8,828,617 | 191,674 | 0.36% | Shares |
| Bridgewater Associates, LP | $8,756,000 | 185,784 | 0.36% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $7,950,690 | 168,697 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $7,914,376 | 167,927 | 0.32% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $7,662,726 | 162,587 | 0.31% | Shares |
| Russell Investments Group, Ltd. | $7,646,490 | 162,242 | 0.31% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $7,328,574 | 155,497 | 0.30% | Shares |
| Clearbridge Investments, LLC | $7,269,891 | 154,252 | 0.30% | Shares |
| JANUS HENDERSON GROUP PLC | $7,076,967 | 125,367 | 0.29% | Shares |
| Nuveen Asset Management, LLC | $6,570,386 | 114,208 | 0.27% | Shares |
| XTX Topco Ltd | $6,353,878 | 134,816 | 0.26% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $6,158,053 | 130,661 | 0.25% | Shares |
| CITADEL ADVISORS LLC | $6,112,761 | 129,700 | 0.25% | Call option |
| Swiss National Bank | $6,089,196 | 129,200 | 0.25% | Shares |
| JANE STREET GROUP, LLC | $5,976,084 | 126,800 | 0.25% | Call option |
| Aviance Capital Partners, LLC | $5,698,981 | 120,920 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $5,316,264 | 112,800 | 0.22% | Put option |
| AMERIPRISE FINANCIAL INC | $5,141,001 | 109,064 | 0.21% | Shares |
| ROBOTTI ROBERT | $4,894,922 | 103,860 | 0.20% | Shares |
| FIRST TRUST ADVISORS LP | $4,875,032 | 103,438 | 0.20% | Shares |
| Nuveen, LLC | $4,822,106 | 102,315 | 0.20% | Shares |
| Focus Partners Wealth | $4,802,642 | 101,899 | 0.20% | Shares |
| Legal & General Group Plc | $4,661,063 | 98,898 | 0.19% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,421,898 | 78,333 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,406,713 | 78,064 | 0.18% | Shares |
| Dupree Financial Group, LLC | $4,362,527 | 92,564 | 0.18% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,352,126 | 92,343 | 0.18% | Shares |
| Shellback Capital, LP | $4,241,700 | 90,000 | 0.17% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $4,231,096 | 89,775 | 0.17% | Shares |
| NEUBERGER BERMAN GROUP LLC | $4,042,623 | 85,776 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $4,010,763 | 85,100 | 0.16% | Put option |
| Ceredex Value Advisors LLC | $3,963,633 | 84,100 | 0.16% | Shares |
| Campbell & CO Investment Adviser LLC | $3,726,333 | 79,065 | 0.15% | Shares |
| PRUDENTIAL FINANCIAL INC | $3,706,068 | 78,635 | 0.15% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $3,696,547 | 78,433 | 0.15% | Shares |
| CastleKnight Management LP | $3,360,369 | 71,300 | 0.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,338,029 | 70,826 | 0.14% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $3,319,978 | 70,443 | 0.14% | Shares |
| TECTONIC ADVISORS LLC | $3,264,801 | 69,272 | 0.13% | Shares |
| Pullen Investment Management, LLC | $3,207,102 | 68,048 | 0.13% | Shares |
| DEUTSCHE BANK AG\ | $3,183,443 | 67,546 | 0.13% | Shares |
| Moody Aldrich Partners LLC | $3,127,782 | 66,365 | 0.13% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $3,025,699 | 64,199 | 0.12% | Shares |
| D. E. Shaw & Co., Inc. | $2,988,042 | 63,400 | 0.12% | Call option |
| ISTHMUS PARTNERS, LLC | $2,980,077 | 63,231 | 0.12% | Shares |
| Boston Partners | $2,774,070 | 58,860 | 0.11% | Shares |
| BlackRock, Inc. | $2,740,939 | 58,157 | 0.11% | Shares |
| WOLVERINE TRADING, LLC | $2,611,565 | 51,500 | 0.11% | Call option |
| Atom Investors LP | $2,506,892 | 53,191 | 0.10% | Shares |
| LPL Financial LLC | $2,424,919 | 51,452 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,415,742 | 51,257 | 0.10% | Shares |
| Ruffer LLP | $2,387,257 | 50,708 | 0.10% | Shares |
Company insiders 20 insiders · 7 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven Paul Lawrence | CEO | June 9, 2026 F | 192,724 | 0 | 0 | $0 |
| Mullican Michael P. | EVP & CFO | Jan. 5, 2021 S | 223,837 | 0 | 0 | $0 |
| Samuel J Johnson | President | June 9, 2026 F | 107,055 | 0 | 0 | $0 |
| Kenneth D. Attaway | EVP, COO | Jan. 5, 2021 S | 152,480 | 0 | 0 | $0 |
| William S. Ennis | Title: SVP, Chief Human Resources Officer | Jan. 5, 2021 S | 107,741 | 0 | 0 | $0 |
| Rene G. Casares | SVP, General Counsel | Jan. 5, 2021 S | 113,575 | 0 | 0 | $0 |
| Heather A. Davis | SVP, Accounting, Treasury, and Tax | Dec. 9, 2020 A | — | 0 | 0 | $0 |
| Jeffrey C. Tweedy | Director | July 16, 2026 S | 10,567 | 0 | 1 | $-57,600 |
| Shannon Hennessy | Director | June 15, 2026 A | 1,825 | 0 | 0 | $0 |
| Monique Picou | Director | June 15, 2026 A | 7,353 | 0 | 0 | $0 |
| Clay M Johnson | Director | June 15, 2026 A | 1,825 | 0 | 0 | $0 |
| Theresa Palermo | Director | June 15, 2026 A | 13,164 | 0 | 0 | $0 |
| Michael Dastugue | Director | June 15, 2026 A | 1,825 | 0 | 0 | $0 |
| Wendy A. Beck | Director | June 15, 2026 A | 21,550 | 0 | 0 | $0 |
| Thomas M Nealon | Director | June 15, 2026 A | 19,149 | 0 | 0 | $0 |
| Brian T Marley | Director | June 15, 2026 A | 43,039 | 0 | 0 | $0 |
| Beryl Raff | Director | June 15, 2026 A | 19,282 | 0 | 0 | $0 |
| Ken C Hicks | Director | June 15, 2026 A | 467,699 | 0 | 0 | $0 |
| William S Simon | Director | Dec. 9, 2020 A | — | 0 | 0 | $0 |
| Allen I Questrom | Director | Dec. 9, 2020 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 80 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| SMCO · Tidal Trust II | 1.29% | 30,441 NS | April 30, 2026 | N-PORT |
| RETL · Direxion Shares ETF Trust | 0.94% | 5,390 NS | April 30, 2026 | N-PORT |
| MYLD · Cambria ETF Trust | 0.91% | 4,922 NS | April 30, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.46% | 4,589 NS | May 31, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.46% | 15,488 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.41% | 2,099,742 NS | May 31, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.38% | 11,697 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.35% | 737 NS | April 30, 2026 | N-PORT |
| GMOV · GMO ETF Trust | 0.31% | 5,323 NS | May 31, 2026 | N-PORT |
| HWSM · HOTCHKIS & WILEY FUNDS /DE/ | 0.28% | 164 NS | June 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.28% | 61,492 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.25% | 345,815 NS | April 30, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.24% | 4,468 NS | May 31, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.20% | 2,020 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.20% | 104,814 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.19% | 475,978 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.19% | 25,352 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.18% | 19,025 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.16% | 2,394 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.16% | 797 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.12% | 51,931 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.11% | 28,755 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.09% | 2,394 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.09% | 3,124 NS | May 31, 2026 | N-PORT |
| FDIS · FIDELITY COVINGTON TRUST | 0.09% | 27,709 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.08% | 210,867 NS | April 30, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.07% | 3,015 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.07% | 320,907 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.07% | 8,419 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.05% | 2,443 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 9,099 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.04% | 2,473 NS | May 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.04% | 8,568 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.04% | 2,626 NS | April 30, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.03% | 12,628 NS | April 30, 2026 | N-PORT |
| SFGV · EA Series Trust | 0.03% | 6,584 NS | May 29, 2026 | N-PORT |
| FNDX · SCHWAB STRATEGIC TRUST | 0.03% | 136,349 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.03% | 6,483 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 2,599 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.02% | 146,172 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.02% | 41,338 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.02% | 5,934 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.02% | 62 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 7,842 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.01% | 34,858 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 21,308 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 14,572 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 20,648 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 39,492 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |