ADIDAS AG (ADS.DE) Fundamental Analysis & Valuation

FRA:ADS • DE000A1EWWW0

Current stock price

132.05 EUR
-2.05 (-1.53%)
Last:

This ADS.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. ADS.DE Profitability Analysis

1.1 Basic Checks

  • ADS had positive earnings in the past year.
  • ADS had a positive operating cash flow in the past year.
  • Of the past 5 years ADS 4 years were profitable.
  • Of the past 5 years ADS 4 years had a positive operating cash flow.
ADS.DE Yearly Net Income VS EBIT VS OCF VS FCFADS.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B 3B

1.2 Ratios

  • ADS has a better Return On Assets (6.61%) than 60.87% of its industry peers.
  • Looking at the Return On Equity, with a value of 23.18%, ADS is in the better half of the industry, outperforming 78.26% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 13.73%, ADS is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
  • ADS had an Average Return On Invested Capital over the past 3 years of 8.16%. This is below the industry average of 12.22%.
  • The 3 year average ROIC (8.16%) for ADS is below the current ROIC(13.73%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.61%
ROE 23.18%
ROIC 13.73%
ROA(3y)3.3%
ROA(5y)4.49%
ROE(3y)11.84%
ROE(5y)15.18%
ROIC(3y)8.16%
ROIC(5y)8.37%
ADS.DE Yearly ROA, ROE, ROICADS.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20

1.3 Margins

  • The Profit Margin of ADS (5.40%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of ADS has grown nicely.
  • ADS's Operating Margin of 8.29% is in line compared to the rest of the industry. ADS outperforms 45.65% of its industry peers.
  • ADS's Operating Margin has improved in the last couple of years.
  • The Gross Margin of ADS (51.61%) is worse than 65.22% of its industry peers.
  • ADS's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 8.29%
PM (TTM) 5.4%
GM 51.61%
OM growth 3Y30.01%
OM growth 5Y12.18%
PM growth 3Y25.71%
PM growth 5Y18.17%
GM growth 3Y2.96%
GM growth 5Y0.63%
ADS.DE Yearly Profit, Operating, Gross MarginsADS.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. ADS.DE Health Analysis

2.1 Basic Checks

  • ADS has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for ADS remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for ADS has been reduced compared to 5 years ago.
  • The debt/assets ratio for ADS is higher compared to a year ago.
ADS.DE Yearly Shares OutstandingADS.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
ADS.DE Yearly Total Debt VS Total AssetsADS.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.10 indicates that ADS is not in any danger for bankruptcy at the moment.
  • ADS has a Altman-Z score of 3.10. This is in the better half of the industry: ADS outperforms 60.87% of its industry peers.
  • The Debt to FCF ratio of ADS is 20.27, which is on the high side as it means it would take ADS, 20.27 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of ADS (20.27) is worse than 76.09% of its industry peers.
  • ADS has a Debt/Equity ratio of 0.75. This is a neutral value indicating ADS is somewhat dependend on debt financing.
  • The Debt to Equity ratio of ADS (0.75) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF 20.27
Altman-Z 3.1
ROIC/WACC1.99
WACC6.9%
ADS.DE Yearly LT Debt VS Equity VS FCFADS.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 1.32 indicates that ADS should not have too much problems paying its short term obligations.
  • ADS's Current ratio of 1.32 is on the low side compared to the rest of the industry. ADS is outperformed by 71.74% of its industry peers.
  • ADS has a Quick Ratio of 1.32. This is a bad value and indicates that ADS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • ADS's Quick ratio of 0.68 is on the low side compared to the rest of the industry. ADS is outperformed by 69.57% of its industry peers.
Industry RankSector Rank
Current Ratio 1.32
Quick Ratio 0.68
ADS.DE Yearly Current Assets VS Current LiabilitesADS.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. ADS.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 76.36% over the past year.
  • The Earnings Per Share has been growing by 27.43% on average over the past years. This is a very strong growth
  • ADS shows a small growth in Revenue. In the last year, the Revenue has grown by 4.76%.
  • Measured over the past years, ADS shows a small growth in Revenue. The Revenue has been growing by 6.12% on average per year.
EPS 1Y (TTM)76.36%
EPS 3Y81.87%
EPS 5Y27.43%
EPS Q2Q%261.54%
Revenue 1Y (TTM)4.76%
Revenue growth 3Y3.3%
Revenue growth 5Y6.12%
Sales Q2Q%1.86%

3.2 Future

  • The Earnings Per Share is expected to grow by 17.34% on average over the next years. This is quite good.
  • Based on estimates for the next years, ADS will show a small growth in Revenue. The Revenue will grow by 7.58% on average per year.
EPS Next Y43.79%
EPS Next 2Y28.81%
EPS Next 3Y26.58%
EPS Next 5Y17.34%
Revenue Next Year7.44%
Revenue Next 2Y7.76%
Revenue Next 3Y7.76%
Revenue Next 5Y7.58%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ADS.DE Yearly Revenue VS EstimatesADS.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B 40B
ADS.DE Yearly EPS VS EstimatesADS.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 5 10 15 20

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5

4. ADS.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.70, ADS is valued on the expensive side.
  • ADS's Price/Earnings ratio is a bit cheaper when compared to the industry. ADS is cheaper than 69.57% of the companies in the same industry.
  • ADS is valuated rather cheaply when we compare the Price/Earnings ratio to 24.89, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 12.31, the valuation of ADS can be described as correct.
  • ADS's Price/Forward Earnings ratio is rather cheap when compared to the industry. ADS is cheaper than 84.78% of the companies in the same industry.
  • ADS is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.19, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.7
Fwd PE 12.31
ADS.DE Price Earnings VS Forward Price EarningsADS.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ADS is valued a bit cheaper than the industry average as 67.39% of the companies are valued more expensively.
  • 78.26% of the companies in the same industry are cheaper than ADS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 86.75
EV/EBITDA 8.31
ADS.DE Per share dataADS.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • ADS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ADS has a very decent profitability rating, which may justify a higher PE ratio.
  • ADS's earnings are expected to grow with 26.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.4
PEG (5Y)0.65
EPS Next 2Y28.81%
EPS Next 3Y26.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. ADS.DE Dividend Analysis

5.1 Amount

  • ADS has a Yearly Dividend Yield of 2.09%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 2.11, ADS has a dividend in line with its industry peers.
  • ADS's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.09%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years2
ADS.DE Yearly Dividends per shareADS.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • ADS pays out 26.66% of its income as dividend. This is a sustainable payout ratio.
DP26.66%
EPS Next 2Y28.81%
EPS Next 3Y26.58%
ADS.DE Yearly Income VS Free CF VS DividendADS.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B
ADS.DE Dividend Payout.ADS.DE Dividend Payout, showing the Payout Ratio.ADS.DE Dividend Payout.PayoutRetained Earnings

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ADS.DE Fundamentals: All Metrics, Ratios and Statistics

ADIDAS AG

FRA:ADS (3/27/2026, 7:00:00 PM)

132.05

-2.05 (-1.53%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)03-04
Earnings (Next)04-29
Inst Owners53.42%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap23.77B
Revenue(TTM)24.81B
Net Income(TTM)1.34B
Analysts80
Price Target209.69 (58.8%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.09%
Yearly Dividend2
Dividend Growth(5Y)N/A
DP26.66%
Div Incr Years0
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.03%
Min EPS beat(2)-3.88%
Max EPS beat(2)5.95%
EPS beat(4)3
Avg EPS beat(4)5.29%
Min EPS beat(4)-3.88%
Max EPS beat(4)15.64%
EPS beat(8)6
Avg EPS beat(8)7.83%
EPS beat(12)8
Avg EPS beat(12)13.3%
EPS beat(16)11
Avg EPS beat(16)6.59%
Revenue beat(2)0
Avg Revenue beat(2)-1.92%
Min Revenue beat(2)-2.31%
Max Revenue beat(2)-1.52%
Revenue beat(4)0
Avg Revenue beat(4)-2.59%
Min Revenue beat(4)-5.34%
Max Revenue beat(4)-1.17%
Revenue beat(8)2
Avg Revenue beat(8)-1.18%
Revenue beat(12)5
Avg Revenue beat(12)-0.44%
Revenue beat(16)6
Avg Revenue beat(16)-0.64%
PT rev (1m)-8.4%
PT rev (3m)-10.49%
EPS NQ rev (1m)2.28%
EPS NQ rev (3m)0.59%
EPS NY rev (1m)-0.73%
EPS NY rev (3m)-0.81%
Revenue NQ rev (1m)-1.87%
Revenue NQ rev (3m)-3.16%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)-0.61%
Valuation
Industry RankSector Rank
PE 17.7
Fwd PE 12.31
P/S 0.96
P/FCF 86.75
P/OCF 31.65
P/B 4.12
P/tB 5.76
EV/EBITDA 8.31
EPS(TTM)7.46
EY5.65%
EPS(NY)10.73
Fwd EY8.12%
FCF(TTM)1.52
FCFY1.15%
OCF(TTM)4.17
OCFY3.16%
SpS137.84
BVpS32.09
TBVpS22.94
PEG (NY)0.4
PEG (5Y)0.65
Graham Number73.39
Profitability
Industry RankSector Rank
ROA 6.61%
ROE 23.18%
ROCE 18.41%
ROIC 13.73%
ROICexc 16.98%
ROICexgc 20.76%
OM 8.29%
PM (TTM) 5.4%
GM 51.61%
FCFM 1.1%
ROA(3y)3.3%
ROA(5y)4.49%
ROE(3y)11.84%
ROE(5y)15.18%
ROIC(3y)8.16%
ROIC(5y)8.37%
ROICexc(3y)10.23%
ROICexc(5y)10.8%
ROICexgc(3y)12.64%
ROICexgc(5y)13.22%
ROCE(3y)10.94%
ROCE(5y)11.22%
ROICexgc growth 3Y36.39%
ROICexgc growth 5Y12.06%
ROICexc growth 3Y36.22%
ROICexc growth 5Y15.12%
OM growth 3Y30.01%
OM growth 5Y12.18%
PM growth 3Y25.71%
PM growth 5Y18.17%
GM growth 3Y2.96%
GM growth 5Y0.63%
F-Score8
Asset Turnover1.22
Health
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF 20.27
Debt/EBITDA 1.34
Cap/Depr 41.33%
Cap/Sales 1.92%
Interest Coverage 9.35
Cash Conversion 23.4%
Profit Quality 20.46%
Current Ratio 1.32
Quick Ratio 0.68
Altman-Z 3.1
F-Score8
WACC6.9%
ROIC/WACC1.99
Cap/Depr(3y)42.54%
Cap/Depr(5y)47.24%
Cap/Sales(3y)2.18%
Cap/Sales(5y)2.56%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)76.36%
EPS 3Y81.87%
EPS 5Y27.43%
EPS Q2Q%261.54%
EPS Next Y43.79%
EPS Next 2Y28.81%
EPS Next 3Y26.58%
EPS Next 5Y17.34%
Revenue 1Y (TTM)4.76%
Revenue growth 3Y3.3%
Revenue growth 5Y6.12%
Sales Q2Q%1.86%
Revenue Next Year7.44%
Revenue Next 2Y7.76%
Revenue Next 3Y7.76%
Revenue Next 5Y7.58%
EBIT growth 1Y53.78%
EBIT growth 3Y34.3%
EBIT growth 5Y19.05%
EBIT Next Year92.64%
EBIT Next 3Y34.96%
EBIT Next 5Y21.42%
FCF growth 1Y-88.44%
FCF growth 3YN/A
FCF growth 5Y-23.44%
OCF growth 1Y-74.19%
OCF growth 3YN/A
OCF growth 5Y-12.75%

ADIDAS AG / ADS.DE Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ADIDAS AG (ADS.DE) stock?

ChartMill assigns a fundamental rating of 5 / 10 to ADS.DE.


What is the valuation status for ADS stock?

ChartMill assigns a valuation rating of 5 / 10 to ADIDAS AG (ADS.DE). This can be considered as Fairly Valued.


What is the profitability of ADS stock?

ADIDAS AG (ADS.DE) has a profitability rating of 6 / 10.


What is the valuation of ADIDAS AG based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ADIDAS AG (ADS.DE) is 17.7 and the Price/Book (PB) ratio is 4.12.


Can you provide the dividend sustainability for ADS stock?

The dividend rating of ADIDAS AG (ADS.DE) is 3 / 10 and the dividend payout ratio is 26.66%.