Revenue growth remains inconsistent, oscillating between a 9.7% expansion in 2026Q1 and a 4.7% contraction in 2025Q1, while gross margins remain vulnerable to promotional cycles, hitting a low of 24.8% in 2025Q1.
| Metric | TTM | Jan'26 | Feb'25 | Feb'24 | Jan'23 | Jan'22 | Jan'21 | Feb'20 | Feb'19 | Feb'18 | Jan'17 | Jan'16 | Jan'15 | Feb'14 | Feb'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Feb'08 | Feb'07 | Jan'06 | Jan'05 | Jan'04 | Feb'03 | Feb'02 | Feb'01 | Jan'00 | Jan'99 | Jan'98 | Feb'97 |
|---|
| Sales/Revenue | 5.6B | 5.5B | 5.33B | 5.26B | 4.99B | 5.01B | 3.76B | 4.31B | 4.04B | 3.8B | 3.61B | 3.52B | 3.28B | 3.31B | 3.48B | 3.16B | 2.97B | 2.94B | 2.99B | 3.06B | 2.79B | 2.32B | 1.88B | 1.52B | 1.46B | 1.37B | 1.09B | 832.1M | 587.6M | 405.71M | 326.4M |
| Revenue Growth % | 6.22% | 3.16% | 1.27% | 5.45% | -0.42% | 33.3% | -12.75% | 6.75% | 6.33% | 5.14% | 2.5% | 7.28% | -0.69% | -4.89% | 10% | 6.48% | 0.93% | -1.63% | -2.18% | 9.34% | 20.35% | 23.43% | 23.77% | 3.88% | 6.65% | 25.46% | 31.41% | 41.61% | 44.83% | 24.3% | 44.04% |
| Cost of Goods Sold | 3.66B | 3.68B | 3.45B | 3.45B | 3.45B | 3.18B | 2.77B | 2.96B | 2.72B | 2.59B | 2.4B | 2.36B | 2.26B | 2.28B | 2.21B | 2.17B | 1.94B | 1.9B | 1.94B | 1.73B | 1.54B | 1.32B | 1.07B | 965.72M | 920.64M | 824.53M | 657.25M | 475.6M | 353.09M | 268.75M | 227.65M |
| COGS % of Revenue | - | 67.01% | 64.69% | 65.56% | 69.08% | 63.49% | 73.78% | 68.82% | 67.31% | 68.26% | 66.48% | 67.08% | 68.93% | 68.99% | 63.53% | 68.63% | 65.28% | 64.78% | 64.94% | 56.78% | 55.18% | 56.98% | 56.97% | 63.54% | 62.92% | 60.1% | 60.11% | 57.16% | 60.09% | 66.24% | 69.74% |
| Gross Profit | 1.95B | 1.81B | 1.88B | 1.81B | 1.54B | 1.83B | 985.75M | 1.34B | 1.32B | 1.2B | 1.21B | 1.16B | 1.02B | 1.03B | 1.27B | 991.09M | 1.03B | 1.04B | 1.05B | 1.32B | 1.25B | 999.02M | 809.53M | 554.25M | 542.5M | 547.37M | 436.23M | 356.51M | 234.51M | 136.97M | 98.76M |
| Gross Margin % | 34.76% | 32.99% | 35.31% | 34.44% | 30.92% | 36.51% | 26.22% | 31.18% | 32.69% | 31.74% | 33.52% | 32.92% | 31.07% | 31.01% | 36.47% | 31.37% | 34.72% | 35.22% | 35.06% | 43.22% | 44.82% | 43.02% | 43.03% | 36.46% | 37.08% | 39.9% | 39.89% | 42.84% | 39.91% | 33.76% | 30.26% |
| Gross Profit Growth % | - | -3.64% | 3.84% | 17.47% | -15.67% | 85.59% | -26.61% | 1.81% | 9.51% | -0.45% | 4.38% | 13.68% | -0.52% | -19.13% | 27.92% | -3.82% | -0.5% | -1.16% | -20.66% | 5.45% | 25.36% | 23.41% | 46.06% | 2.17% | -0.89% | 25.48% | 22.36% | 52.02% | 71.22% | 38.69% | 48.51% |
| Operating Expenses | 1.52B | 1.49B | 1.43B | 1.44B | 1.27B | 1.22B | 977.26M | 1.03B | 980.61M | 879.68M | 857.56M | 834.7M | 806.5M | 788.71M | 828.6M | 735.83M | 713.2M | 725.28M | 734.04M | 714.58M | 665.61M | 539.13M | 445.43M | 449.69M | 401.41M | 380.89M | 289.67M | 206.99M | 147.46M | 105.85M | 89.9M |
| OpEx % of Revenue | - | 27.03% | 26.87% | 27.45% | 25.43% | 24.39% | 26% | 23.89% | 24.3% | 23.18% | 23.76% | 23.7% | 24.57% | 23.86% | 23.84% | 23.29% | 24.03% | 24.67% | 24.56% | 23.39% | 23.82% | 23.22% | 23.68% | 29.59% | 27.43% | 27.76% | 26.49% | 24.88% | 25.09% | 26.09% | 27.54% |
| Selling, General & Admin | 1.52B | 1.49B | 1.43B | 1.43B | 1.27B | 1.22B | 977.26M | 1.03B | 980.61M | 879.68M | 857.56M | 834.7M | 806.5M | 788.71M | 828.6M | 735.83M | 713.2M | 725.28M | 734.04M | 714.58M | 665.61M | 539.13M | 445.43M | 379.29M | 350.75M | 339.02M | 266.47M | 194.79M | 138.85M | 98.53M | 83.81M |
| SG&A % of Revenue | - | 27.03% | 26.87% | 27.24% | 25.43% | 24.39% | 26% | 23.89% | 24.3% | 23.18% | 23.76% | 23.7% | 24.57% | 23.86% | 23.84% | 23.29% | 24.03% | 24.67% | 24.56% | 23.39% | 23.82% | 23.22% | 23.68% | 24.95% | 23.97% | 24.71% | 24.37% | 23.41% | 23.63% | 24.29% | 25.68% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 10.95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70.4M | 50.66M | 41.88M | 23.2M | 12.2M | 8.61M | 7.32M | 6.09M |
| Operating Income | 424.11M | 327.82M | 449.96M | 368.01M | 273.66M | 607.41M | 8.48M | 313.84M | 338.7M | 325.07M | 352.64M | 324.68M | 213.38M | 236.49M | 439.18M | 255.27M | 317.26M | 310.39M | 313.74M | 606.05M | 586.79M | 459.89M | 364.11M | 104.56M | 141.09M | 166.47M | 146.55M | 149.51M | 87.05M | 31.12M | 8.86M |
| Operating Margin % | 7.57% | 5.96% | 8.44% | 6.99% | 5.48% | 12.12% | 0.23% | 7.28% | 8.39% | 8.56% | 9.77% | 9.22% | 6.5% | 7.15% | 12.64% | 8.08% | 10.69% | 10.56% | 10.5% | 19.84% | 21% | 19.81% | 19.35% | 6.88% | 9.64% | 12.13% | 13.4% | 17.97% | 14.82% | 7.67% | 2.71% |
| Operating Income Growth % | - | -27.14% | 22.27% | 34.48% | -54.95% | 7062% | -97.3% | -7.34% | 4.19% | -7.82% | 8.61% | 52.16% | -9.77% | -46.15% | 72.05% | -19.54% | 2.21% | -1.07% | -48.23% | 3.28% | 27.59% | 26.31% | 248.21% | -25.89% | -15.25% | 13.59% | -1.98% | 71.75% | 179.73% | 251.28% | -43.57% |
| EBITDA | 640.07M | 539.79M | 665.39M | 603.99M | 486.43M | 770.97M | 171.65M | 496.06M | 507.19M | 492.49M | 509.37M | 468.03M | 348.18M | 355.97M | 561.72M | 395.02M | 457.76M | 448.15M | 441.98M | 708.56M | 674.82M | 538.62M | 432.38M | 160.84M | 191.75M | 208.35M | 169.75M | 161.71M | 95.66M | 38.44M | 14.95M |
| EBITDA Margin % | 11.42% | 9.82% | 12.49% | 11.48% | 9.75% | 15.39% | 4.57% | 11.51% | 12.57% | 12.98% | 14.11% | 13.29% | 10.61% | 10.77% | 16.16% | 12.5% | 15.43% | 15.24% | 14.79% | 23.19% | 24.15% | 23.2% | 22.98% | 10.58% | 13.11% | 15.19% | 15.52% | 19.43% | 16.28% | 9.47% | 4.58% |
| EBITDA Growth % | 23.59% | -18.88% | 10.17% | 24.17% | -36.91% | 349.16% | -65.4% | -2.19% | 2.98% | -3.31% | 8.83% | 34.42% | -2.19% | -36.63% | 42.2% | -13.71% | 2.14% | 1.4% | -37.62% | 5% | 25.29% | 24.57% | 168.82% | -16.12% | -7.97% | 22.74% | 4.97% | 69.04% | 148.88% | 157.18% | -24.52% |
| D&A (Non-Cash Add-back) | 215.96M | 211.96M | 215.43M | 235.98M | 212.78M | 163.56M | 163.16M | 182.22M | 168.49M | 167.42M | 156.72M | 143.36M | 134.79M | 119.47M | 122.55M | 139.76M | 140.5M | 137.76M | 128.24M | 102.5M | 88.03M | 78.73M | 68.27M | 56.28M | 50.66M | 41.88M | 23.2M | 12.2M | 8.61M | 7.32M | 6.09M |
| EBIT | 438.44M | 327.82M | 443.43M | 241.04M | 192.2M | 592.87M | -267.9M | 245.28M | 345.1M | 287.17M | 335.26M | 321.87M | 159.5M | 142.08M | 402.04M | 237.01M | 295.08M | 304.38M | 297.04M | 636.38M | 629.07M | 476.97M | 366.83M | 133.27M | 158.86M | 166.47M | 146.55M | 149.51M | 87.05M | 31.12M | 8.86M |
| Net Interest Income | -12.18M | -4.11M | 7.77M | 6.19M | -79.02M | -34.63M | -24.61M | 6.2M | 3.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 8.97M | 6.19M | 0 | 0 | 0 | 6.2M | 3.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 12.18M | 4.11M | 1.2M | 0 | 79.02M | 34.63M | 24.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -60.34M | -78.44M | -7.73M | -128.15M | -95.16M | -48.49M | -300.75M | -68.56M | 6.4M | -37.9M | -17.38M | -2.81M | -53.88M | -94.42M | -37.14M | -18.26M | -22.18M | -6.02M | -16.7M | 30.33M | 42.28M | 17.08M | 2.73M | 2.02M | 2.53M | 2.77M | 6.25M | -160K | 2.44M | 1.16M | 973K |
| Pretax Income | 363.77M | 249.39M | 442.23M | 239.86M | 178.49M | 558.92M | -292.27M | 245.28M | 345.1M | 287.17M | 335.26M | 321.87M | 159.5M | 142.08M | 402.04M | 237.01M | 295.08M | 232.39M | 297.04M | 636.38M | 629.07M | 476.97M | 366.83M | 106.58M | 143.61M | 169.25M | 152.8M | 149.35M | 89.49M | 32.28M | 9.83M |
| Pretax Margin % | 6.49% | 4.54% | 8.3% | 4.56% | 3.58% | 11.15% | -7.78% | 5.69% | 8.55% | 7.57% | 9.29% | 9.14% | 4.86% | 4.3% | 11.57% | 7.5% | 9.94% | 7.9% | 9.94% | 20.83% | 22.51% | 20.54% | 19.5% | 7.01% | 9.82% | 12.34% | 13.97% | 17.95% | 15.23% | 7.96% | 3.01% |
| Income Tax | 88.24M | 63.87M | 112.85M | 69.82M | 53.36M | 139.29M | -83M | 54.02M | 83.2M | 83.01M | 122.81M | 108.58M | 70.72M | 59.09M | 137.94M | 85.31M | 113.15M | 63.37M | 117.98M | 236.36M | 241.71M | 183.26M | 142.6M | 46.59M | 54.88M | 63.75M | 59.04M | 58.69M | 35.37M | 12.74M | 3.91M |
| Effective Tax Rate % | 24.26% | 25.61% | 25.52% | 29.11% | 29.89% | 24.92% | 28.4% | 22.02% | 24.11% | 28.91% | 36.63% | 33.73% | 44.33% | 41.59% | 34.31% | 35.99% | 38.35% | 27.27% | 39.72% | 37.14% | 38.42% | 38.42% | 38.87% | 43.71% | 38.21% | 37.67% | 38.64% | 39.3% | 39.53% | 39.47% | 39.74% |
| Net Income | 280.41M | 191.98M | 329.38M | 170.04M | 125.14M | 419.63M | -209.27M | 191.26M | 261.9M | 204.16M | 212.45M | 218.14M | 80.32M | 82.98M | 232.11M | 151.71M | 140.65M | 169.02M | 179.06M | 400.02M | 387.36M | 294.15M | 213.34M | 60M | 88.73M | 105.5M | 93.76M | 90.66M | 54.12M | 19.54M | 5.92M |
| Net Margin % | 5% | 3.49% | 6.18% | 3.23% | 2.51% | 8.37% | -5.57% | 4.44% | 6.49% | 5.38% | 5.89% | 6.19% | 2.45% | 2.51% | 6.68% | 4.8% | 4.74% | 5.75% | 5.99% | 13.09% | 13.86% | 12.67% | 11.34% | 3.95% | 6.06% | 7.69% | 8.57% | 10.9% | 9.21% | 4.82% | 1.82% |
| Net Income Growth % | 42.53% | -41.71% | 93.71% | 35.88% | -70.18% | 300.52% | -209.42% | -26.97% | 28.28% | -3.9% | -2.61% | 171.58% | -3.21% | -64.25% | 53% | 7.86% | -16.79% | -5.61% | -55.24% | 3.27% | 31.69% | 37.88% | 255.57% | -32.38% | -15.89% | 12.52% | 3.42% | 67.52% | 177% | 229.74% | -16.55% |
| Net Income (Continuing) | 275.54M | 185.52M | 329.38M | 170.04M | 125.14M | 419.63M | -209.27M | 191.26M | 261.9M | 204.16M | 212.45M | 213.29M | 88.79M | 82.98M | 264.1M | 175.28M | 195.73M | 213.4M | 179.06M | 400.02M | 387.36M | 293.71M | 224.23M | 83.11M | 99.64M | 105.5M | 93.76M | 90.66M | 54.12M | 19.54M | 5.92M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 442K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -1.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.63 | 1.09 | 1.68 | 0.86 | 0.64 | 2.03 | -1.26 | 1.12 | 1.47 | 1.13 | 1.16 | 1.11 | 0.42 | 0.43 | 1.16 | 0.77 | 0.70 | 0.81 | 0.86 | 1.82 | 1.70 | 1.26 | 0.95 | 0.38 | 0.40 | 0.48 | 0.43 | 0.41 | 0.25 | 0.10 | 0.07 |
| EPS Growth % | 65.31% | -35.12% | 95.35% | 34.38% | -68.47% | 261.11% | -212.5% | -23.81% | 30.09% | -2.59% | 4.5% | 164.29% | -2.33% | -62.93% | 50.65% | 10% | -13.58% | -5.81% | -52.75% | 7.06% | 34.92% | 32.63% | 150% | -5% | -16.67% | 11.63% | 4.88% | 64% | 161.51% | 43.33% | 3.25% |
| EPS (Basic) | - | 1.12 | 1.71 | 0.87 | 0.69 | 2.50 | -1.26 | 1.13 | 1.48 | 1.15 | 1.17 | 1.12 | 0.42 | 0.43 | 1.19 | 0.78 | 0.70 | 0.82 | 0.87 | 1.85 | 1.74 | 1.29 | 0.98 | 0.39 | 0.41 | 0.49 | 0.45 | 0.44 | 0.27 | 0.10 | 0.07 |
| Diluted Shares Outstanding | 172.34M | 176.14M | 196.41M | 196.86M | 205.23M | 206.53M | 166.46M | 170.87M | 178.03M | 180.16M | 183.84M | 196.24M | 195.13M | 194.47M | 200.66M | 196.31M | 201.82M | 209.51M | 207.58M | 220.28M | 228.38M | 233.03M | 225.37M | 216.62M | 218.24M | 221.28M | 216.29M | 219.23M | 215.57M | 205.35M | 131.57M |
| Basic Shares Outstanding | 167.84M | 172.16M | 193.06M | 195.65M | 181.78M | 168.16M | 166.46M | 169.71M | 176.48M | 177.94M | 181.43M | 194.35M | 194.44M | 192.8M | 196.21M | 194.44M | 199.98M | 206.17M | 205.17M | 216.12M | 222.66M | 227.41M | 217.72M | 213.34M | 215.02M | 214.48M | 208.85M | 208.56M | 203.56M | 198.81M | 131.57M |
| Dividend Payout Ratio | - | - | 29.28% | 49.3% | 51.76% | 27.15% | - | 48.51% | 37.08% | 43.37% | 42.68% | 44.58% | 121.04% | 87.1% | 173.84% | 56.42% | 130.23% | 49.1% | 46.01% | 20.2% | 15.88% | 14.3% | 4.14% | - | - | - | - | - | - | - | - |
Promotional Margin Volatility
According to the provided quarterly data, AEO's revenue growth has exhibited significant volatility, oscillating between a 9.7% expansion in 2026Q1 and a 4.7% contraction in 2025Q1, suggesting that the company's top-line performance remains highly sensitive to seasonal demand cycles and broader consumer discretionary spending shifts.
The inconsistent revenue trajectory indicates that AEO struggles to maintain organic growth momentum outside of peak holiday periods. Investors should monitor whether the recent 9.7% growth in 2026Q1 represents a sustainable recovery or merely a rebound from the prior year's inventory-related weakness.
As reported in financial statements, AEO's gross margin profile remains under pressure, with a notable trough of 24.8% in 2025Q1, highlighting the company's susceptibility to aggressive promotional activity and inventory liquidation cycles that frequently erode the profitability of its core apparel offerings during off-peak periods.
The inability to consistently maintain gross margins above the 35% threshold suggests limited pricing power in a highly competitive teen apparel market. This margin volatility appears to be a structural byproduct of the company's reliance on deep discounting to clear seasonal inventory, which warrants further investigation into inventory management efficiency.
Based on AEO's reported figures, operating income has demonstrated extreme sensitivity to revenue fluctuations, swinging from a $68.1 million loss in 2025Q1 to a $180.2 million profit in 2025Q4, which underscores the high fixed-cost burden inherent in the company's extensive mall-based retail footprint.
The wide variance in operating margins suggests that AEO lacks the necessary scale to absorb fixed occupancy and labor costs during periods of soft demand. This operating leverage profile implies that even minor revenue misses can lead to disproportionate impacts on the bottom line, increasing the company's earnings risk.
Analysis of recent filings reveals that stock-based compensation reached $61.8 million in 2025Q4, a significant figure that frequently obscures the underlying cash-generating capability of the business and complicates the assessment of true operational profitability for shareholders evaluating the company's long-term earnings quality.
The lumpy nature of stock-based compensation, particularly the spikes observed in 2025Q4 and 2026Q1, suggests that reported EPS may not fully reflect the economic cost of talent retention. Investors should be cautious of relying on headline net income figures without adjusting for these non-cash expenses that dilute shareholder value.
While management frames the Quiet Logistics acquisition as a strategic advantage, the income statement data suggests that the integration may be introducing new cost complexities, as evidenced by the inconsistent operating margins that fail to show a clear, sustained improvement following these significant capital investments.
Short-sellers may focus on the potential for 'di-worsification' where the company's focus on third-party logistics distracts from core retail execution. The lack of clear margin expansion following these acquisitions suggests that the expected synergies may be slower to materialize than the market initially anticipated.
Quick answers to the most common questions about buying AEO stock.
For fiscal year 2025, American Eagle Outfitters, Inc. (AEO) reported total revenue of $5.50B. This represents a 1584.1% increase compared to $326.4M in 1996.
American Eagle Outfitters, Inc. (AEO) is profitable, generating $192.0M in net income for the fiscal year ending 2025 with a net profit margin of 3.5%.
American Eagle Outfitters, Inc. (AEO) reported an operating income of $327.8M, resulting in an operating profit margin of 6.0%. This margin reflects the operational efficiency of the business before interest and taxes.
American Eagle Outfitters, Inc. (AEO) generated $1.81B in gross profit for the year, representing a gross profit margin of 33.0%. This demonstrates the company's core pricing power and production efficiency.