Tearsheet

American Eagle Outfitters (AEO)


Market Price (10/8/2025): $15.5 | Market Cap: $2.6 Bil
Sector: Consumer Discretionary | Industry: Apparel Retail

American Eagle Outfitters (AEO)


Market Price (10/8/2025): $15.5
Market Cap: $2.6 Bil
Sector: Consumer Discretionary
Industry: Apparel Retail

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 5.7%
Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -15%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 71%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48%
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.7%, Rev Chg QQuarterly Revenue Change % is -0.6%
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 5.7%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48%
2 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -15%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 71%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.7%, Rev Chg QQuarterly Revenue Change % is -0.6%

Market Valuation & Key Metrics

AEO Stock


Price Returns Compared

 202020212022202320242025Total [1]
Returns
AEO Return39%29%-43%55%-19%-4%33%
Peers Return4%17%-11%67%25%-35%48%
S&P 500 Return16%27%-19%24%23%14%108%

Monthly Win Rates [3]
AEO Win Rate50%58%25%67%33%44% 
Peers Win Rate20%23%15%28%40%44% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
AEO Max Drawdown-54%-1%-61%-27%-21%-43% 
Peers Max Drawdown-22%-1%-19%-1%-1%-50% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: URBN, ANF, LB, BRIA, JEM. See AEO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/7/2025 (YTD)

Downturns Compared

Unique KeyEventAEOS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-74.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven289.2%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-55.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven122.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven147 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-51.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven105.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven453 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-79.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven383.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven4530 days1480 days


How Low Can It Go?

American Eagle Outfitters's stock fell -74.3% during the 2022 Inflation Shock from a high on 4/23/2021. A -74.3% loss requires a 289.2% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About American Eagle Outfitters (AEO)

American Eagle Outfitters, Inc. operates as a specialty retailer that provides clothing, accessories, and personal care products under the American Eagle and Aerie brands. The company provides jeans, and specialty apparel and accessories for women and men; and intimates, apparel, activewear, and swim collections, as well as personal care products for women. It also offers graphic tees and other clothing products under the Tailgate brand name; and menswear products under the Todd Snyder New York brand name. As of January 29, 2022, the company operated 880 American Eagle stores, 244 Aerie brand stand-alone stores, and five Todd Snyder stores in the United States, Canada, Mexico, and Hong Kong. It also ships to 81 countries through its Websites; and offers its merchandise at 260 locations operated by licensees in 28 countries, as well as provides products through its Websites ae.com, aerie.com, and toddsnyder.com. American Eagle Outfitters, Inc. was founded in 1977 and is headquartered in Pittsburgh, Pennsylvania.

Better Bets than American Eagle Outfitters (AEO)

Latest Trefis Analyses

Trade Ideas

Select past trade ideas related to AEO and Apparel Retail.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-9.0%-9.0%-9.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.7%0.7%-0.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-2.8%-2.8%-2.8%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
2.8%2.8%-0.6%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-1.3%-1.3%-1.3%
AEO_3312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312025AEOAmerican Eagle OutfittersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
52.0%39.0%-18.9%
AEO_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312020AEOAmerican Eagle OutfittersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
76.0%272.2%-15.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-9.0%-9.0%-9.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.7%0.7%-0.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-2.8%-2.8%-2.8%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
2.8%2.8%-0.6%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
-1.3%-1.3%-1.3%
AEO_3312025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312025AEOAmerican Eagle OutfittersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
52.0%39.0%-18.9%
AEO_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312020AEOAmerican Eagle OutfittersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
76.0%272.2%-15.3%

See Trefis Trade Ideas for more.

Recent Active Movers

Recent Active Movers

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Peer Comparisons for American Eagle Outfitters

Financials

AEOURBNANFLBBRIAJEMMedian
NameAmerican.Urban Ou.Abercrom.LandBrid.BrilliA 707 Caym. 
Mkt Price15.4870.0175.4554.412.040.3534.95
Mkt Cap2.66.33.61.3--3.1
Rev LTM5,2675,8325,100156--5,183
Op Inc LTM30155774475--429
FCF LTM15239934586--248
FCF 3Y Avg293285390---293
CFO LTM41059056388--486
CFO 3Y Avg514479578---514

Growth & Margins

AEOURBNANFLBBRIAJEMMedian
NameAmerican.Urban Ou.Abercrom.LandBrid.BrilliA 707 Caym. 
Rev Chg LTM-2.7%9.6%9.3%95.0%--9.5%
Rev Chg 3Y Avg1.6%7.5%11.7%---7.5%
Rev Chg Q-0.6%11.3%6.6%83.2%--8.9%
QoQ Delta Rev Chg LTM-0.1%2.7%1.5%16.0%--2.1%
Op Mgn LTM5.7%9.5%14.6%47.8%--12.1%
Op Mgn 3Y Avg6.7%7.6%11.6%---7.6%
QoQ Delta Op Mgn LTM0.0%0.3%0.4%51.5%--0.3%
CFO/Rev LTM7.8%10.1%11.0%56.0%--10.6%
CFO/Rev 3Y Avg9.9%8.9%12.8%---9.9%
FCF/Rev LTM2.9%6.8%6.8%54.8%--6.8%
FCF/Rev 3Y Avg5.7%5.2%8.6%---5.7%

Valuation

AEOURBNANFLBBRIAJEMMedian
NameAmerican.Urban Ou.Abercrom.LandBrid.BrilliA 707 Caym. 
Mkt Cap2.66.33.61.3--3.1
P/S0.51.10.78.4--0.9
P/EBIT8.810.74.617.5--9.7
P/E13.413.26.668.7--13.3
P/CFO6.510.66.414.9--8.5
Total Yield9.2%7.6%15.1%18.0%--12.1%
Dividend Yield1.7%0.0%0.0%16.5%--0.9%
FCF Yield 3Y Avg11.9%6.5%9.8%---9.8%
D/E0.80.20.30.3--0.3
Net D/E0.70.10.10.3--0.2

Returns

AEOURBNANFLBBRIAJEMMedian
NameAmerican.Urban Ou.Abercrom.LandBrid.BrilliA 707 Caym. 
1M Rtn-17.7%-1.1%-20.9%4.5%-26.5%5.8%-9.4%
3M Rtn54.3%-0.7%-13.3%-14.0%-8.0%-91.0%-10.6%
6M Rtn64.3%61.9%12.7%-9.8%6.5%-98.6%9.6%
12M Rtn-23.3%92.0%-45.7%19.5%--98.6%-23.3%
3Y Rtn59.2%221.4%397.4%---98.6%140.3%
1M Excs Rtn-18.9%-7.5%-24.3%2.8%-19.0%15.0%-13.2%
3M Excs Rtn47.1%-9.9%-20.5%-18.8%-18.6%-96.6%-18.7%
6M Excs Rtn20.6%19.1%-28.9%-44.5%-37.0%-131.2%-32.9%
12M Excs Rtn-43.5%77.4%-61.5%7.4%--116.4%-43.5%
3Y Excs Rtn-15.5%169.0%297.9%---185.8%76.8%

Financials

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
American Eagle3,3623,2633,5562,7343,480
Aerie1,6701,5071,376990801
Other489469823528
Intersegment Elimination-259-249-3  
Total5,2624,9905,0113,7594,308


Operating Income by Segment
$ Mil20252024202320222021
American Eagle60054179693484
Aerie2761672146047
Intersegment Elimination00   
Other-36-57-16-425-298
Impairment, restructuring and other charges-153-22-12  
Unallocated corporate expenses-464-383-391  
Total223247591-271233


Price Behavior

Short Interest

Short Interest: As Of Date9152025
Short Interest: Shares Quantity32,048,426
Short Interest: % Change Since 831202515.4%
Average Daily Volume26,343,234
Days-to-Cover Short Interest1.22
Basic Shares Quantity170,756,000
Short % of Basic Shares18.8%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/3/202538.0%41.3%24.4%
5/29/2025-2.0%-9.3%-14.0%
3/12/2025-4.1%4.0%-6.7%
12/4/2024-14.3%-14.1%-16.2%
8/29/2024-4.2%-11.3%1.2%
5/29/2024-7.6%-9.8%-17.0%
3/7/2024-1.9%-1.0%4.5%
11/21/20231.0%14.9%26.3%
...
SUMMARY STATS   
# Positive111011
# Negative141514
Median Positive2.4%6.4%8.8%
Median Negative-4.2%-9.3%-14.4%
Max Positive38.0%41.3%26.3%
Max Negative-14.3%-21.8%-20.5%

SEC Filings

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Report DateFiling DateFiling
7312025909202510-Q 8/2/2025
4302025605202510-Q 5/3/2025
1312025320202510-K 2/1/2025
103120241204202410-Q 11/2/2024
7312024829202410-Q 8/3/2024
4302024530202410-Q 5/4/2024
1312024315202410-K 2/3/2024
103120231121202310-Q 10/28/2023
7312023906202310-Q 7/29/2023
4302023525202310-Q 4/29/2023
1312023313202310-K 1/28/2023
103120221123202210-Q 10/29/2022
7312022907202210-Q 7/30/2022
4302022526202210-Q 4/30/2022
1312022314202210-K 1/29/2022
103120211123202110-Q 10/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Spiegel Noel Joseph 9092025Sell18.1240,000724,856 Form
1PAGE JANICE E 9092025Sell18.0426,869484,7171,630,509Form
2MCMILLAN CARY D 9092025Sell18.119,002163,071 Form
3Foyle Jennifer M.Global Brand President-aerie9092025Sell18.1454,950996,7934,010,881Form
4MCMILLAN CARY D 1172025Sell16.022,99948,044 Form