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AMER SPORTS INC (AS) Stock Fundamental Analysis

NYSE:AS - New York Stock Exchange, Inc. - KYG0260P1028 - Common Stock - Currency: USD

37.5  -1.21 (-3.13%)

Premarket: 36.37 -1.13 (-3.01%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to AS. AS was compared to 50 industry peers in the Textiles, Apparel & Luxury Goods industry. AS has an average financial health and profitability rating. AS is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

AS had positive earnings in the past year.
AS had a positive operating cash flow in the past year.
In the past 5 years AS reported 4 times negative net income.
Of the past 5 years AS 4 years had a positive operating cash flow.
AS Yearly Net Income VS EBIT VS OCF VS FCFAS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

AS has a Return On Assets (0.87%) which is in line with its industry peers.
AS has a Return On Equity (1.45%) which is in line with its industry peers.
Looking at the Return On Invested Capital, with a value of 5.14%, AS is doing worse than 60.00% of the companies in the same industry.
AS had an Average Return On Invested Capital over the past 3 years of 4.01%. This is significantly below the industry average of 11.00%.
The last Return On Invested Capital (5.14%) for AS is above the 3 year average (4.01%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.87%
ROE 1.45%
ROIC 5.14%
ROA(3y)-1.61%
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.01%
ROIC(5y)N/A
AS Yearly ROA, ROE, ROICAS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 200 -200

1.3 Margins

AS's Profit Margin of 1.41% is in line compared to the rest of the industry. AS outperforms 48.00% of its industry peers.
AS has a Operating Margin of 8.54%. This is in the better half of the industry: AS outperforms 66.00% of its industry peers.
AS's Operating Margin has improved in the last couple of years.
AS has a Gross Margin of 55.26%. This is in the better half of the industry: AS outperforms 68.00% of its industry peers.
In the last couple of years the Gross Margin of AS has grown nicely.
Industry RankSector Rank
OM 8.54%
PM (TTM) 1.41%
GM 55.26%
OM growth 3Y14.18%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.11%
GM growth 5YN/A
AS Yearly Profit, Operating, Gross MarginsAS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 20 40

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4

2. Health

2.1 Basic Checks

AS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, AS has more shares outstanding
AS has a better debt/assets ratio than last year.
AS Yearly Shares OutstandingAS Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 100M 200M 300M 400M 500M
AS Yearly Total Debt VS Total AssetsAS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

AS has an Altman-Z score of 4.97. This indicates that AS is financially healthy and has little risk of bankruptcy at the moment.
AS has a Altman-Z score of 4.97. This is amongst the best in the industry. AS outperforms 90.00% of its industry peers.
AS has a debt to FCF ratio of 10.85. This is a negative value and a sign of low solvency as AS would need 10.85 years to pay back of all of its debts.
AS has a Debt to FCF ratio (10.85) which is in line with its industry peers.
AS has a Debt/Equity ratio of 0.25. This is a healthy value indicating a solid balance between debt and equity.
AS's Debt to Equity ratio of 0.25 is fine compared to the rest of the industry. AS outperforms 64.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 10.85
Altman-Z 4.97
ROIC/WACC0.65
WACC7.87%
AS Yearly LT Debt VS Equity VS FCFAS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

AS has a Current Ratio of 1.54. This is a normal value and indicates that AS is financially healthy and should not expect problems in meeting its short term obligations.
AS has a Current ratio of 1.54. This is in the lower half of the industry: AS underperforms 68.00% of its industry peers.
AS has a Quick Ratio of 1.54. This is a bad value and indicates that AS is not financially healthy enough and could expect problems in meeting its short term obligations.
AS has a Quick ratio of 0.76. This is in the lower half of the industry: AS underperforms 72.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.54
Quick Ratio 0.76
AS Yearly Current Assets VS Current LiabilitesAS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

AS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 182.39%, which is quite impressive.
AS shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.21%.
The Revenue has been growing by 19.12% on average over the past years. This is quite good.
EPS 1Y (TTM)182.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%237.5%
Revenue 1Y (TTM)21.21%
Revenue growth 3Y19.12%
Revenue growth 5YN/A
Sales Q2Q%24.48%

3.2 Future

The Earnings Per Share is expected to grow by 37.11% on average over the next years. This is a very strong growth
Based on estimates for the next years, AS will show a quite strong growth in Revenue. The Revenue will grow by 14.11% on average per year.
EPS Next Y79.28%
EPS Next 2Y52.23%
EPS Next 3Y42.75%
EPS Next 5Y37.11%
Revenue Next Year18.42%
Revenue Next 2Y16.08%
Revenue Next 3Y15.56%
Revenue Next 5Y14.11%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
AS Yearly Revenue VS EstimatesAS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B 8B 10B
AS Yearly EPS VS EstimatesAS Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 2028 2029 0 0.5 -0.5 1 1.5 2

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2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 59.52, the valuation of AS can be described as expensive.
AS's Price/Earnings ratio is a bit more expensive when compared to the industry. AS is more expensive than 70.00% of the companies in the same industry.
AS's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.82.
With a Price/Forward Earnings ratio of 36.78, AS can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, AS is valued a bit more expensive than the industry average as 70.00% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.24, AS is valued at the same level.
Industry RankSector Rank
PE 59.52
Fwd PE 36.78
AS Price Earnings VS Forward Price EarningsAS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AS is valued a bit more expensive than the industry average as 72.00% of the companies are valued more cheaply.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AS indicates a slightly more expensive valuation: AS is more expensive than 62.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 152.13
EV/EBITDA 30.67
AS Per share dataAS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as AS's earnings are expected to grow with 42.75% in the coming years.
PEG (NY)0.75
PEG (5Y)N/A
EPS Next 2Y52.23%
EPS Next 3Y42.75%

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0

5. Dividend

5.1 Amount

No dividends for AS!.
Industry RankSector Rank
Dividend Yield N/A

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AMER SPORTS INC

NYSE:AS (8/18/2025, 9:18:15 PM)

Premarket: 36.37 -1.13 (-3.01%)

37.5

-1.21 (-3.13%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)05-20 2025-05-20/bmo
Earnings (Next)08-19 2025-08-19/bmo
Inst Owners25.81%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap20.80B
Analysts82.14
Price Target41.69 (11.17%)
Short Float %5.53%
Short Ratio2.93
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)15.09%
Min EPS beat(2)-2.6%
Max EPS beat(2)32.79%
EPS beat(4)3
Avg EPS beat(4)117.38%
Min EPS beat(4)-2.6%
Max EPS beat(4)253.05%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.21%
Min Revenue beat(2)-0.76%
Max Revenue beat(2)1.18%
Revenue beat(4)3
Avg Revenue beat(4)0.93%
Min Revenue beat(4)-0.76%
Max Revenue beat(4)1.75%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.19%
PT rev (3m)29.31%
EPS NQ rev (1m)0.54%
EPS NQ rev (3m)1.1%
EPS NY rev (1m)0%
EPS NY rev (3m)11.91%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.07%
Revenue NY rev (1m)0.26%
Revenue NY rev (3m)2.42%
Valuation
Industry RankSector Rank
PE 59.52
Fwd PE 36.78
P/S 4.03
P/FCF 152.13
P/OCF 48.97
P/B 4.16
P/tB 73.88
EV/EBITDA 30.67
EPS(TTM)0.63
EY1.68%
EPS(NY)1.02
Fwd EY2.72%
FCF(TTM)0.25
FCFY0.66%
OCF(TTM)0.77
OCFY2.04%
SpS9.32
BVpS9.01
TBVpS0.51
PEG (NY)0.75
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.87%
ROE 1.45%
ROCE 6.51%
ROIC 5.14%
ROICexc 5.42%
ROICexgc 20.29%
OM 8.54%
PM (TTM) 1.41%
GM 55.26%
FCFM 2.65%
ROA(3y)-1.61%
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.01%
ROIC(5y)N/A
ROICexc(3y)4.27%
ROICexc(5y)N/A
ROICexgc(3y)18.87%
ROICexgc(5y)N/A
ROCE(3y)5.08%
ROCE(5y)N/A
ROICexcg growth 3Y16.69%
ROICexcg growth 5YN/A
ROICexc growth 3Y36.01%
ROICexc growth 5YN/A
OM growth 3Y14.18%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.11%
GM growth 5YN/A
F-Score8
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 10.85
Debt/EBITDA 1.72
Cap/Depr 105.19%
Cap/Sales 5.57%
Interest Coverage 2.24
Cash Conversion 59.38%
Profit Quality 188.29%
Current Ratio 1.54
Quick Ratio 0.76
Altman-Z 4.97
F-Score8
WACC7.87%
ROIC/WACC0.65
Cap/Depr(3y)81.5%
Cap/Depr(5y)67.78%
Cap/Sales(3y)4.31%
Cap/Sales(5y)4.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)182.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%237.5%
EPS Next Y79.28%
EPS Next 2Y52.23%
EPS Next 3Y42.75%
EPS Next 5Y37.11%
Revenue 1Y (TTM)21.21%
Revenue growth 3Y19.12%
Revenue growth 5YN/A
Sales Q2Q%24.48%
Revenue Next Year18.42%
Revenue Next 2Y16.08%
Revenue Next 3Y15.56%
Revenue Next 5Y14.11%
EBIT growth 1Y50.29%
EBIT growth 3Y36.01%
EBIT growth 5YN/A
EBIT Next Year84.95%
EBIT Next 3Y36.87%
EBIT Next 5Y26.46%
FCF growth 1Y189.62%
FCF growth 3Y-6.84%
FCF growth 5YN/A
OCF growth 1Y113.42%
OCF growth 3Y16.59%
OCF growth 5YN/A