ADIDAS AG (ADS.DE) Fundamental Analysis & Valuation

FRA:ADS • DE000A1EWWW0

141.15 EUR
-5.95 (-4.04%)
Last: Mar 4, 2026, 05:25 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Taking everything into account, ADS scores 4 out of 10 in our fundamental rating. ADS was compared to 45 industry peers in the Textiles, Apparel & Luxury Goods industry. ADS has an average financial health and profitability rating. ADS is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. ADS.DE Profitability Analysis

1.1 Basic Checks

  • ADS had positive earnings in the past year.
  • In the past year ADS had a positive cash flow from operations.
  • 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 0 1B -1B 2B 3B

1.2 Ratios

  • The Return On Assets of ADS (6.05%) is comparable to the rest of the industry.
  • With a decent Return On Equity value of 21.39%, ADS is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • ADS has a Return On Invested Capital of 12.46%. This is in the better half of the industry: ADS outperforms 73.33% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ADS is significantly below the industry average of 12.24%.
  • The 3 year average ROIC (5.19%) for ADS is below the current ROIC(12.46%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.05%
ROE 21.39%
ROIC 12.46%
ROA(3y)2.1%
ROA(5y)3.58%
ROE(3y)8.19%
ROE(5y)11.88%
ROIC(3y)5.19%
ROIC(5y)6.3%
ADS.DE Yearly ROA, ROE, ROICADS.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

1.3 Margins

  • ADS has a Profit Margin of 4.94%. This is comparable to the rest of the industry: ADS outperforms 48.89% of its industry peers.
  • In the last couple of years the Profit Margin of ADS has declined.
  • ADS has a Operating Margin (7.89%) which is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of ADS has declined.
  • ADS has a worse Gross Margin (51.36%) than 66.67% of its industry peers.
  • ADS's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.89%
PM (TTM) 4.94%
GM 51.36%
OM growth 3Y-17.1%
OM growth 5Y-14.1%
PM growth 3Y-31.34%
PM growth 5Y-17.34%
GM growth 3Y0.05%
GM growth 5Y-0.48%
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 0 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. ADS.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ADS is creating value.
  • ADS has about the same amout of shares outstanding than it did 1 year ago.
  • ADS has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for ADS has been reduced 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 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 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.20 indicates that ADS is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of ADS (3.20) is better than 62.22% of its industry peers.
  • ADS has a debt to FCF ratio of 14.32. This is a negative value and a sign of low solvency as ADS would need 14.32 years to pay back of all of its debts.
  • ADS has a worse Debt to FCF ratio (14.32) than 73.33% of its industry peers.
  • A Debt/Equity ratio of 0.74 indicates that ADS is somewhat dependend on debt financing.
  • ADS has a worse Debt to Equity ratio (0.74) than 60.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 14.32
Altman-Z 3.2
ROIC/WACC1.85
WACC6.72%
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 0 2B 4B 6B

2.3 Liquidity

  • ADS has a Current Ratio of 1.31. This is a normal value and indicates that ADS is financially healthy and should not expect problems in meeting its short term obligations.
  • ADS's Current ratio of 1.31 is on the low side compared to the rest of the industry. ADS is outperformed by 71.11% of its industry peers.
  • ADS has a Quick Ratio of 1.31. This is a bad value and indicates that ADS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.71, ADS is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.31
Quick Ratio 0.71
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 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

  • ADS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 731.34%, which is quite impressive.
  • Measured over the past years, ADS shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -15.76% on average per year.
  • Looking at the last year, ADS shows a quite strong growth in Revenue. The Revenue has grown by 10.53% in the last year.
  • Measured over the past years, ADS shows a small growth in Revenue. The Revenue has been growing by 0.04% on average per year.
EPS 1Y (TTM)731.34%
EPS 3Y-17.56%
EPS 5Y-15.76%
EPS Q2Q%N/A
Revenue 1Y (TTM)10.53%
Revenue growth 3Y3.71%
Revenue growth 5Y0.04%
Sales Q2Q%1.86%

3.2 Future

  • Based on estimates for the next years, ADS will show a very strong growth in Earnings Per Share. The EPS will grow by 30.24% on average per year.
  • Based on estimates for the next years, ADS will show a small growth in Revenue. The Revenue will grow by 7.11% on average per year.
EPS Next Y80.51%
EPS Next 2Y59.82%
EPS Next 3Y44.22%
EPS Next 5Y30.24%
Revenue Next Year6.21%
Revenue Next 2Y6.8%
Revenue Next 3Y7.26%
Revenue Next 5Y7.11%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last 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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4

4. ADS.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 33.37, ADS can be considered very expensive at the moment.
  • ADS's Price/Earnings is on the same level as the industry average.
  • ADS is valuated rather expensively when we compare the Price/Earnings ratio to 26.83, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 13.06, the valuation of ADS can be described as correct.
  • Based on the Price/Forward Earnings ratio, ADS is valued cheaply inside the industry as 82.22% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 24.95. ADS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 33.37
Fwd PE 13.06
ADS.DE Price Earnings VS Forward Price EarningsADS.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • ADS's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ADS indicates a slightly more expensive valuation: ADS is more expensive than 73.33% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 67.04
EV/EBITDA 9.46
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

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ADS's earnings are expected to grow with 44.22% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.41
PEG (5Y)N/A
EPS Next 2Y59.82%
EPS Next 3Y44.22%

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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 1.23%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.97, ADS has a dividend in line with its industry peers.
  • ADS's Dividend Yield is slightly below the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.23%

5.2 History

  • The dividend of ADS decreases each year by -26.93%.
Dividend Growth(5Y)-26.93%
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 1 2 3

5.3 Sustainability

  • ADS pays out 29.29% of its income as dividend. This is a sustainable payout ratio.
DP29.29%
EPS Next 2Y59.82%
EPS Next 3Y44.22%
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 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 (3/4/2026, 5:25:14 PM)

141.15

-5.95 (-4.04%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)03-04
Earnings (Next)N/A
Inst Owners54.91%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap25.41B
Revenue(TTM)23.68B
Net Income(TTM)1.22B
Analysts80
Price Target229.02 (62.25%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.23%
Yearly Dividend0.7
Dividend Growth(5Y)-26.93%
DP29.29%
Div Incr Years0
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.21%
Min EPS beat(2)-3.88%
Max EPS beat(2)3.46%
EPS beat(4)3
Avg EPS beat(4)5.26%
Min EPS beat(4)-3.88%
Max EPS beat(4)15.64%
EPS beat(8)5
Avg EPS beat(8)1.66%
EPS beat(12)8
Avg EPS beat(12)13.15%
EPS beat(16)11
Avg EPS beat(16)9.67%
Revenue beat(2)0
Avg Revenue beat(2)-3.83%
Min Revenue beat(2)-5.34%
Max Revenue beat(2)-2.31%
Revenue beat(4)1
Avg Revenue beat(4)-1.55%
Min Revenue beat(4)-5.34%
Max Revenue beat(4)2.63%
Revenue beat(8)2
Avg Revenue beat(8)-1.26%
Revenue beat(12)5
Avg Revenue beat(12)-0.62%
Revenue beat(16)6
Avg Revenue beat(16)-0.7%
PT rev (1m)-2.35%
PT rev (3m)-4.01%
EPS NQ rev (1m)13.22%
EPS NQ rev (3m)12.47%
EPS NY rev (1m)0%
EPS NY rev (3m)0.73%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)-0.11%
Revenue NY rev (1m)0.11%
Revenue NY rev (3m)-0.24%
Valuation
Industry RankSector Rank
PE 33.37
Fwd PE 13.06
P/S 1.03
P/FCF 67.04
P/OCF 27.89
P/B 4.46
P/tB 6.25
EV/EBITDA 9.46
EPS(TTM)4.23
EY3%
EPS(NY)10.81
Fwd EY7.66%
FCF(TTM)2.11
FCFY1.49%
OCF(TTM)5.06
OCFY3.59%
SpS137.22
BVpS31.66
TBVpS22.58
PEG (NY)0.41
PEG (5Y)N/A
Graham Number54.89
Profitability
Industry RankSector Rank
ROA 6.05%
ROE 21.39%
ROCE 17.7%
ROIC 12.46%
ROICexc 14.73%
ROICexgc 17.86%
OM 7.89%
PM (TTM) 4.94%
GM 51.36%
FCFM 1.53%
ROA(3y)2.1%
ROA(5y)3.58%
ROE(3y)8.19%
ROE(5y)11.88%
ROIC(3y)5.19%
ROIC(5y)6.3%
ROICexc(3y)6.53%
ROICexc(5y)8.63%
ROICexgc(3y)8.14%
ROICexgc(5y)10.85%
ROCE(3y)7.37%
ROCE(5y)8.95%
ROICexgc growth 3Y-9.6%
ROICexgc growth 5Y-13.31%
ROICexc growth 3Y-10.88%
ROICexc growth 5Y-12.05%
OM growth 3Y-17.1%
OM growth 5Y-14.1%
PM growth 3Y-31.34%
PM growth 5Y-17.34%
GM growth 3Y0.05%
GM growth 5Y-0.48%
F-Score7
Asset Turnover1.23
Health
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 14.32
Debt/EBITDA 1.34
Cap/Depr 45.32%
Cap/Sales 2.15%
Interest Coverage 8.36
Cash Conversion 29.17%
Profit Quality 31.09%
Current Ratio 1.31
Quick Ratio 0.71
Altman-Z 3.2
F-Score7
WACC6.72%
ROIC/WACC1.85
Cap/Depr(3y)45.61%
Cap/Depr(5y)45.44%
Cap/Sales(3y)2.57%
Cap/Sales(5y)2.65%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)731.34%
EPS 3Y-17.56%
EPS 5Y-15.76%
EPS Q2Q%N/A
EPS Next Y80.51%
EPS Next 2Y59.82%
EPS Next 3Y44.22%
EPS Next 5Y30.24%
Revenue 1Y (TTM)10.53%
Revenue growth 3Y3.71%
Revenue growth 5Y0.04%
Sales Q2Q%1.86%
Revenue Next Year6.21%
Revenue Next 2Y6.8%
Revenue Next 3Y7.26%
Revenue Next 5Y7.11%
EBIT growth 1Y115.84%
EBIT growth 3Y-14.03%
EBIT growth 5Y-14.07%
EBIT Next Year155.92%
EBIT Next 3Y50.59%
EBIT Next 5Y32.32%
FCF growth 1Y-70.96%
FCF growth 3Y-2.1%
FCF growth 5Y2.35%
OCF growth 1Y-49.25%
OCF growth 3Y-3.05%
OCF growth 5Y0.64%

ADIDAS AG / ADS.DE FAQ

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

ChartMill assigns a fundamental rating of 4 / 10 to ADS.DE.


What is the valuation status for ADS stock?

ChartMill assigns a valuation rating of 4 / 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 4 / 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 33.37 and the Price/Book (PB) ratio is 4.46.


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 29.29%.