(AS) Amer Sports - Ratings and Ratios
Outdoor Apparel, Footwear, Skiing Gear, Tennis Equipment, Baseball Equipment
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 44.3% |
| Value at Risk 5%th | 66.7% |
| Relative Tail Risk | -8.47% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.66 |
| Alpha | 3.96 |
| CAGR/Max DD | 1.79 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.476 |
| Beta | 1.612 |
| Beta Downside | 1.559 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.71% |
| Mean DD | 13.04% |
| Median DD | 10.76% |
Description: AS Amer Sports December 19, 2025
Amer Sports, Inc. (NYSE:AS) designs, manufactures, markets and distributes a broad portfolio of sports equipment, apparel, footwear and accessories across Europe, the Middle East, Africa, the Americas, Mainland China, Hong Kong, Macau, Taiwan and the Asia-Pacific region. The company operates through three distinct segments: Technical Apparel (outdoor apparel, climbing gear, footwear), Outdoor Performance (hiking, running, ski and snowboard gear, lifestyle footwear) and Ball & Racquet Sports (tennis, baseball, American football, basketball, golf equipment plus custom-fitted protective gear and pitching machines). Its brand lineup includes Arc’teryx, Salomon, Atomic, Wilson, Louisville Slugger, DeMarini, EvoShield and others.
In FY 2023 Amer reported net sales of roughly €2.2 billion, with the Outdoor Performance segment contributing the largest share (≈55% of revenue) and delivering a 12% operating margin, while Technical Apparel and Ball & Racquet Sports posted margins of 8% and 6% respectively. E-commerce now accounts for about 22% of total sales, a figure that has been rising at a compound annual growth rate of ~15% since 2020, reflecting the broader shift toward digital channels in the sporting-goods sector.
Key economic drivers for Amer include discretionary consumer spending trends in the United States and Europe, weather-related demand cycles for outdoor and winter gear, and the continued expansion of the middle-class consumer base in China and other emerging Asian markets. Currency exposure is material; roughly 40% of revenue is earned in euros, 30% in U.S. dollars and the remainder in other currencies, making the firm sensitive to EUR/USD and CNY fluctuations.
Sector-wide, the sports-apparel market is being reshaped by sustainability pressures (e.g., demand for recycled materials) and the “athleisure” crossover, which has lifted average gross margins across peers by 1-2 percentage points. Amer’s focus on premium-priced technical brands positions it to capture higher margin upside if these trends persist.
For a deeper quantitative breakdown of AS’s valuation metrics, the ValueRay platform offers a concise, data-driven snapshot worth reviewing.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income (311.3m TTM) > 0 and > 6% of Revenue (6% = 366.0m TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 1.66pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 17.59% (prev 20.09%; Δ -2.50pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.05 (>3.0%) and CFO 511.2m > Net Income 311.3m (YES >=105%, WARN >=100%) |
| Net Debt (1.51b) to EBITDA (682.8m) ratio: 2.22 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.51 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (563.5m) change vs 12m ago 10.99% (target <= -2.0% for YES) |
| Gross Margin 57.20% (prev 54.24%; Δ 2.96pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 65.81% (prev 55.08%; Δ 10.73pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.27 (EBITDA TTM 682.8m / Interest Expense TTM 141.7m) >= 6 (WARN >= 3) |
Altman Z'' 1.68
| (A) 0.11 = (Total Current Assets 3.17b - Total Current Liabilities 2.10b) / Total Assets 9.71b |
| (B) -0.03 = Retained Earnings (Balance) -339.0m / Total Assets 9.71b |
| (C) 0.07 = EBIT TTM 605.5m / Avg Total Assets 9.27b |
| (D) 0.60 = Book Value of Equity 2.43b / Total Liabilities 4.04b |
| Total Rating: 1.68 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 61.33
| 1. Piotroski 7.50pt |
| 2. FCF Yield 1.21% |
| 3. FCF Margin 4.42% |
| 4. Debt/Equity 0.33 |
| 5. Debt/Ebitda 2.22 |
| 6. ROIC - WACC (= -3.96)% |
| 7. RoE 5.83% |
| 8. Rev. Trend 75.62% |
| 9. EPS Trend 77.75% |
What is the price of AS shares?
Over the past week, the price has changed by +2.78%, over one month by +3.23%, over three months by +12.38% and over the past year by +29.09%.
Is AS a buy, sell or hold?
- Strong Buy: 11
- Buy: 4
- Hold: 3
- Sell: 0
- Strong Sell: 1
What are the forecasts/targets for the AS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 46.9 | 22.1% |
| Analysts Target Price | 46.9 | 22.1% |
| ValueRay Target Price | 47.1 | 22.6% |
AS Fundamental Data Overview January 02, 2026
P/E Trailing = 67.9091
P/E Forward = 30.7692
P/S = 3.3953
P/B = 3.5437
P/EG = 0.3749
Beta = None
Revenue TTM = 6.10b USD
EBIT TTM = 605.5m USD
EBITDA TTM = 682.8m USD
Long Term Debt = 791.9m USD (from longTermDebt, last quarter)
Short Term Debt = 501.1m USD (from shortTermDebt, last quarter)
Debt = 1.87b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.51b USD (from netDebt column, last quarter)
Enterprise Value = 22.23b USD (20.71b + Debt 1.87b - CCE 353.3m)
Interest Coverage Ratio = 4.27 (Ebit TTM 605.5m / Interest Expense TTM 141.7m)
FCF Yield = 1.21% (FCF TTM 269.7m / Enterprise Value 22.23b)
FCF Margin = 4.42% (FCF TTM 269.7m / Revenue TTM 6.10b)
Net Margin = 5.10% (Net Income TTM 311.3m / Revenue TTM 6.10b)
Gross Margin = 57.20% ((Revenue TTM 6.10b - Cost of Revenue TTM 2.61b) / Revenue TTM)
Gross Margin QoQ = 56.84% (prev 58.47%)
Tobins Q-Ratio = 2.29 (Enterprise Value 22.23b / Total Assets 9.71b)
Interest Expense / Debt = 1.37% (Interest Expense 25.6m / Debt 1.87b)
Taxrate = 25.95% (51.3m / 197.7m)
NOPAT = 448.4m (EBIT 605.5m * (1 - 25.95%))
Current Ratio = 1.51 (Total Current Assets 3.17b / Total Current Liabilities 2.10b)
Debt / Equity = 0.33 (Debt 1.87b / totalStockholderEquity, last quarter 5.65b)
Debt / EBITDA = 2.22 (Net Debt 1.51b / EBITDA 682.8m)
Debt / FCF = 5.62 (Net Debt 1.51b / FCF TTM 269.7m)
Total Stockholder Equity = 5.34b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.21% (Net Income 311.3m / Total Assets 9.71b)
RoE = 5.83% (Net Income TTM 311.3m / Total Stockholder Equity 5.34b)
RoCE = 9.87% (EBIT 605.5m / Capital Employed (Equity 5.34b + L.T.Debt 791.9m))
RoIC = 7.09% (NOPAT 448.4m / Invested Capital 6.33b)
WACC = 11.05% (E(20.71b)/V(22.58b) * Re(11.95%) + D(1.87b)/V(22.58b) * Rd(1.37%) * (1-Tc(0.26)))
Discount Rate = 11.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 7.30%
[DCF Debug] Terminal Value 69.79% ; FCFE base≈201.3m ; Y1≈248.3m ; Y5≈423.7m
Fair Price DCF = 7.16 (DCF Value 3.97b / Shares Outstanding 554.6m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 77.75 | EPS CAGR: 677.5% | SUE: 1.20 | # QB: 1
Revenue Correlation: 75.62 | Revenue CAGR: 27.50% | SUE: N/A | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.33 | Chg30d=+0.004 | Revisions Net=+0 | Analysts=12
EPS next Year (2026-12-31): EPS=1.15 | Chg30d=+0.005 | Revisions Net=+7 | Growth EPS=+24.8% | Growth Revenue=+16.2%
Additional Sources for AS Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle