ADS Stock Analysis: adidas | XETRA
Footwear & Accessories | XETRA, Germany | Market Cap: 32.561m EUR | 12M Return: -10.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 108M
Qual. Beats: 0
Rev. Trend: 92.7%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
adidas AG is a global athletic and sports lifestyle company that designs, develops, produces, and markets footwear, apparel, and accessories across Europe, Greater China, Japan, South Korea, Latin America, North America, and other international markets. Its brand portfolio includes the core adidas brand for general athletic and sports lifestyle products, adidas Golf for golf footwear and apparel, and Five Ten for outdoor footwear.
The company operates an omnichannel distribution model combining directly operated retail stores, mono-branded franchise stores, shop-in-shops, joint ventures, co-branded stores, wholesale partners, and e-commerce platforms. Founded in 1920 and headquartered in Herzogenaurach, Germany, the firm was previously known as adidas-Salomon AG before adopting its current name in June 2006.
As a constituent of the GICS Consumer Discretionary sector within the Footwear sub-industry, adidas competes in a global market shaped by brand-driven demand, sponsorship and athlete endorsements, and recurring product cycles tied to major sporting events and seasonal apparel collections.
- Greater China revenue recovery drives top-line growth outlook
- Yeezy discontinuation and promotional discounting pressure gross margins
- Nike and On competition intensifies across running and lifestyle segments
| Net Income: 1.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -3.90 > 1.0 |
| NWC/Revenue: 12.64% < 20% (prev 10.58%; Δ 2.06% < -1%) |
| CFO/TA 0.07 > 3% & CFO 1.33b > Net Income 1.39b |
| Net Debt (7.41b) to EBITDA (3.31b): 2.24 < 3 |
| Current Ratio: 1.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (178.7m) vs 12m ago 0.06% < -2% |
| Gross Margin: 51.36% > 18% (prev 51.01%; Δ 0.36% > 0.5%) |
| Asset Turnover: 124.6% > 50% (prev 121.3%; Δ 3.22% > 0%) |
| Interest Coverage Ratio: 6.72 > 6 (EBIT TTM 2.16b / Interest Expense TTM 322.0m) |
| A: 0.16 (Total Current Assets 12.3b - Total Current Liabilities 9.09b) / Total Assets 20.5b |
| B: 0.28 (Retained Earnings 5.74b / Total Assets 20.5b) |
| C: 0.11 (EBIT TTM 2.16b / Avg Total Assets 20.3b) |
| D: 0.42 (Book Value of Equity 5.99b / Total Liabilities 14.1b) |
| Altman-Z'' = 3.10 = A |
| DSRI: 1.10 (Receivables 3.68b/3.24b, Revenue 25.2b/24.4b) |
| GMI: 0.99 (GM 51.01% / 51.36%) |
| AQI: 0.91 (AQ_t 0.17 / AQ_t-1 0.19) |
| SGI: 1.04 (Revenue 25.2b / 24.4b) |
| TATA: 0.00 (NI 1.39b - CFO 1.33b) / TA 20.5b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of July 16, 2026, the stock is trading at EUR 180.60 with a total of 607,417 shares traded. Over the past week, the price has changed by -3.89%, over one month by +2.41%, over three months by +33.42% and over the past year by -10.94%.
Current recommended Stop Loss: 174.10 (which is 3.6% or 1.4 ATR below the current price).
adidas has no consensus analysts rating.
P/E Trailing = 23.7516
P/E Forward = 19.0476
P/S = 1.2752
P/B = 5.3068
P/EG = 0.9103
Revenue TTM = 25.2b EUR
EBIT TTM = 2.16b EUR
EBITDA TTM = 3.31b EUR
Long Term Debt = 1.99b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.61b EUR (from shortTermDebt, last quarter)
Debt = 8.91b EUR (from shortLongTermDebtTotal, last quarter) + Leases 2.96b
Net Debt = 7.41b EUR (calculated: Debt 8.91b - CCE 1.49b)
Enterprise Value = 40.0b EUR (32.6b + Debt 8.91b - CCE 1.49b)
Interest Coverage Ratio = 6.72 (Ebit TTM 2.16b / Interest Expense TTM 322.0m)
EV/FCF = 46.97x (Enterprise Value 40.0b / FCF TTM 851.0m)
FCF Yield = 2.13% (FCF TTM 851.0m / Enterprise Value 40.0b)
FCF Margin = 3.37% (FCF TTM 851.0m / Revenue TTM 25.2b)
Net Margin = 5.52% (Net Income TTM 1.39b / Revenue TTM 25.2b)
Gross Margin = 51.36% ((Revenue TTM 25.2b - Cost of Revenue TTM 12.3b) / Revenue TTM)
Gross Margin QoQ = 51.11% (prev 50.82%)
Tobins Q-Ratio = 1.95 (Enterprise Value 40.0b / Total Assets 20.5b)
Interest Expense / Debt = 3.62% (Interest Expense 322.0m / Debt 8.91b)
Taxrate = 24.26% (456.0m / 1.88b)
NOPAT = 1.64b (EBIT 2.16b * (1 - 24.26%))
Current Ratio = 1.35 (Total Current Assets 12.3b / Total Current Liabilities 9.09b)
Debt / Equity = 1.49 (Debt 8.91b / totalStockholderEquity, last quarter 5.99b)
Debt / EBITDA = 2.24 (Net Debt 7.41b / EBITDA 3.31b)
Debt / FCF = 8.71 (Net Debt 7.41b / FCF TTM 851.0m)
Total Stockholder Equity = 5.66b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.87% (Net Income 1.39b / Total Assets 20.5b)
RoE = 24.59% (Net Income TTM 1.39b / Total Stockholder Equity 5.66b)
RoCE = 28.25% (EBIT 2.16b / Capital Employed (Equity 5.66b + L.T.Debt 1.99b))
RoIC = 13.98% (NOPAT 1.64b / Invested Capital 11.7b)
WACC = 6.69% (E(32.6b)/V(41.5b) * Re(7.77%) + D(8.91b)/V(41.5b) * Rd(3.62%) * (1-Tc(0.24)))
Discount Rate = 7.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -16.36 | Cagr: 0.03%
[DCF] Terminal Value 73.10% ; FCFF base≈1.16b ; Y1≈1.02b ; Y5≈820.9m
[DCF] Fair Price = 32.50 (EV 13.2b - Net Debt 7.41b = Equity 5.76b / Shares 177.3m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.33 | # QB: 0
Revenue Correlation: 92.70 | Revenue CAGR: 6.54% | SUE: 1.65 | # QB: 1
EPS current Quarter (2026-06-30): EPS=2.35 | Chg30d=+1.53% | Revisions=+40% | Analysts=11
EPS next Quarter (2026-09-30): EPS=3.19 | Chg30d=+0.79% | Revisions=+0% | Analysts=8
EPS current Year (2026-12-31): EPS=9.59 | Chg30d=+0.70% | Revisions=+62% | GrowthEPS=+28.6% | GrowthRev=+9.0%
EPS next Year (2027-12-31): EPS=11.72 | Chg30d=+1.33% | Revisions=+50% | GrowthEPS=+23.4% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: +65% (up=15, down=2)