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ADIDAS AG (ADS.DE) Stock Fundamental Analysis

Europe - Frankfurt Stock Exchange - FRA:ADS - DE000A1EWWW0 - Common Stock

166.1 EUR
-0.55 (-0.33%)
Last: 1/12/2026, 5:29:59 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to ADS. ADS was compared to 51 industry peers in the Textiles, Apparel & Luxury Goods industry. ADS has an average financial health and profitability rating. ADS has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

ADS had positive earnings in the past year.
In the past year ADS had a positive cash flow from operations.
ADS had positive earnings in 4 of the past 5 years.
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

ADS has a Return On Assets of 6.05%. This is comparable to the rest of the industry: ADS outperforms 58.82% of its industry peers.
The Return On Equity of ADS (21.39%) is better than 80.39% of its industry peers.
ADS's Return On Invested Capital of 12.46% is fine compared to the rest of the industry. ADS outperforms 74.51% of its industry peers.
ADS had an Average Return On Invested Capital over the past 3 years of 5.19%. This is significantly below the industry average of 11.80%.
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's Profit Margin of 4.94% is in line compared to the rest of the industry. ADS outperforms 54.90% of its industry peers.
ADS's Profit Margin has declined in the last couple of years.
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.
Looking at the Gross Margin, with a value of 51.36%, ADS is doing worse than 64.71% of the companies in the same industry.
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

4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ADS is creating value.
Compared to 1 year ago, ADS has about the same amount of shares outstanding.
Compared to 5 years ago, ADS has less shares outstanding
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

ADS has an Altman-Z score of 3.35. This indicates that ADS is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.35, ADS is in the better half of the industry, outperforming 62.75% of the companies in the same industry.
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 68.63% of its industry peers.
A Debt/Equity ratio of 0.74 indicates that ADS is somewhat dependend on debt financing.
The Debt to Equity ratio of ADS (0.74) is worse than 62.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 14.32
Altman-Z 3.35
ROIC/WACC1.87
WACC6.66%
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.
With a Current ratio value of 1.31, ADS is not doing good in the industry: 70.59% of the companies in the same industry are doing better.
A Quick Ratio of 0.71 indicates that ADS may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.71, ADS is doing worse than 66.67% of the companies in the same industry.
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

6

3. Growth

3.1 Past

ADS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 219.81%, which is quite impressive.
The earnings per share for ADS have been decreasing by -15.76% on average. This is quite bad
The Revenue has grown by 9.64% in the past year. This is quite good.
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)219.81%
EPS 3Y-17.56%
EPS 5Y-15.76%
EPS Q2Q%5.33%
Revenue 1Y (TTM)9.64%
Revenue growth 3Y3.71%
Revenue growth 5Y0.04%
Sales Q2Q%2.98%

3.2 Future

ADS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 30.23% yearly.
The Revenue is expected to grow by 7.45% on average over the next years.
EPS Next Y80.59%
EPS Next 2Y59.89%
EPS Next 3Y44.37%
EPS Next 5Y30.23%
Revenue Next Year6.1%
Revenue Next 2Y7.08%
Revenue Next 3Y7.54%
Revenue Next 5Y7.45%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 24.50 indicates a rather expensive valuation of ADS.
62.75% of the companies in the same industry are more expensive than ADS, based on the Price/Earnings ratio.
ADS's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.19.
The Price/Forward Earnings ratio is 15.36, which indicates a correct valuation of ADS.
Based on the Price/Forward Earnings ratio, ADS is valued cheaper than 80.39% of the companies in the same industry.
ADS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.92.
Industry RankSector Rank
PE 24.5
Fwd PE 15.36
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

ADS's Enterprise Value to EBITDA ratio is in line with 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 68.63% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 78.89
EV/EBITDA 10.59
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's earnings are expected to grow with 44.37% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.3
PEG (5Y)N/A
EPS Next 2Y59.89%
EPS Next 3Y44.37%

3

5. Dividend

5.1 Amount

ADS has a Yearly Dividend Yield of 1.21%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 1.94, ADS has a dividend in line with its industry peers.
ADS's Dividend Yield is slightly below the S&P500 average, which is at 1.92.
Industry RankSector Rank
Dividend Yield 1.21%

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 2Y59.89%
EPS Next 3Y44.37%
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

ADIDAS AG

FRA:ADS (1/12/2026, 5:29:59 PM)

166.1

-0.55 (-0.33%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)10-30 2025-10-30/dmh
Earnings (Next)03-04 2026-03-04/amc
Inst Owners54.91%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap29.90B
Revenue(TTM)24.70B
Net Income(TTM)1.22B
Analysts80.57
Price Target234.26 (41.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.21%
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)-1.01%
PT rev (3m)-3.41%
EPS NQ rev (1m)2.47%
EPS NQ rev (3m)11.37%
EPS NY rev (1m)1.03%
EPS NY rev (3m)-0.36%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)-1.22%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)-1.01%
Valuation
Industry RankSector Rank
PE 24.5
Fwd PE 15.36
P/S 1.21
P/FCF 78.89
P/OCF 32.82
P/B 5.25
P/tB 7.35
EV/EBITDA 10.59
EPS(TTM)6.78
EY4.08%
EPS(NY)10.81
Fwd EY6.51%
FCF(TTM)2.11
FCFY1.27%
OCF(TTM)5.06
OCFY3.05%
SpS137.22
BVpS31.66
TBVpS22.58
PEG (NY)0.3
PEG (5Y)N/A
Graham Number69.49
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 3.35
F-Score7
WACC6.66%
ROIC/WACC1.87
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)219.81%
EPS 3Y-17.56%
EPS 5Y-15.76%
EPS Q2Q%5.33%
EPS Next Y80.59%
EPS Next 2Y59.89%
EPS Next 3Y44.37%
EPS Next 5Y30.23%
Revenue 1Y (TTM)9.64%
Revenue growth 3Y3.71%
Revenue growth 5Y0.04%
Sales Q2Q%2.98%
Revenue Next Year6.1%
Revenue Next 2Y7.08%
Revenue Next 3Y7.54%
Revenue Next 5Y7.45%
EBIT growth 1Y115.84%
EBIT growth 3Y-14.03%
EBIT growth 5Y-14.07%
EBIT Next Year155.69%
EBIT Next 3Y51.76%
EBIT Next 5Y32.71%
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 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 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 24.5 and the Price/Book (PB) ratio is 5.25.


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%.