American Outdoor Brands
AOUT on Nasdaq. Sporting & athletic goods, nec. Market value $210m.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to April 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $9.44 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -6 cents a year. Above 10 is good.
Quality score: 32 of 100. Price score: 33 of 100. Our list needs 70 on quality and 60 on price.
$16.09 a share, 157% above its 1-year low
Over the past year the price has ranged from $6.26 to $17.69.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $19 million in the past 12 months, $4 million in the year to April 2026.
| Revenue | |||||
| Revenue | $248m | $191m | $201m | $222m | $191m |
| Operating margin | |||||
| Operating margin | -22.8% | -6.6% | -6.2% | -0.1% | -4.7% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.01bn | 0.01bn | 0.01bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt0.00× equity
- Revenue growth, five yearsShrinking, 7.2% a year
- Buying back its own sharesYes, 5% fewer since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $37 million last quarter, up 25% on a year ago.
- A loss of $2 million, compared with a loss of $7 million a year ago.
- It loses 2 cents on each $1 of sales, compared with 2 cents a year earlier.
- Spare cash over the past 12 months: $19 million, up from $1 million.
- 1% fewer shares than a year ago. Each share owns a bit more of the company.
- It has $33 million more cash than debt, up from $18 million a year ago.
- Sales grew on a year ago in 1 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $60m |
| January 2025 | $59m |
| April 2025 | $62m |
| July 2025 | $30m |
| October 2025 | $57m |
| January 2026 | $57m |
| April 2026 | $47m |
| July 2026 | $37m |
| Quarter to | Amount |
|---|---|
| October 2024 | $3m |
| January 2025 | $169,000 |
| April 2025 | -$992,000 |
| July 2025 | -$7m |
| October 2025 | $2m |
| January 2026 | -$4m |
| April 2026 | -$381,000 |
| July 2026 | -$2m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 June 2026
- Next quarterly (estimated, 10-Q)
- 3 December 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 98 funds in all.
- Brandes Investment PartnersCharles Brandes
- Value
- $29m
- Share of fund
- 0.2%
- Engine CapitalArnaud Ajdler
- Value
- $8m
- Share of fund
- 0.7%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Brandes Investment PartnersCharles Brandes | $29m | 0.2% | |
| Royce & AssociatesChuck Royce | $12m | <0.1% | Added |
| Engine CapitalArnaud Ajdler | $8m | 0.7% | |
| GAMCO InvestorsMario Gabelli | $4m | <0.1% | Cut |
Largest holders overall
- Brandes Investment Partners$29m
- Royce & Associates$12mAdded
- Dimensional Fund Advisors LP$9mCut
- Engine Capital$8m
- Vanguard Capital Management$6mCut
- GAMCO Investors$4mCut
- BlackRock$3mCut
- UBS Group AG$2mAdded
- Renaissance Technologies$2mCut
- Arrowstreet Capital, Limited Partnership$2mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Brandes Investment PartnersPassive investorat least 19.7%+0.4 pts(filed with 1 related holder)Since 30 June 2026
- Kevin LearyPassive investorat least 9.6%(filed with 6 related holders)Since 4 August 2026
What they said
The Reporting Persons acquired the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the…
Read the filing - Royce & AssociatesPassive investor7.3%+1.5 ptsSince 31 March 2026
- Vanguard Capital ManagementPassive investorSold down below 5%Since 30 June 2026
- Alexander Capital Advisors, LLCPassive investorSold down below 5%Since 31 December 2024
- BlackRock, Inc.Passive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Brandes Investment Partners Passive investor | at least 19.7%+0.4 pts (filed with 1 related holder) | 30 June 2026 | |
Kevin Leary Passive investor | at least 9.6% (filed with 6 related holders) | 4 August 2026 | What they saidThe Reporting Persons acquired the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the… Read the filing |
Royce & Associates Passive investor | 7.3%+1.5 pts | 31 March 2026 | |
Vanguard Capital Management Passive investor | Sold down below 5% | 30 June 2026 | |
Alexander Capital Advisors, LLC Passive investor | Sold down below 5% | 31 December 2024 | |
BlackRock, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Jun 2026, plus the 10-Q filed 3 Sep 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 7.2% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.