ADIDAS AG (ADS.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:ADS • DE000A1EWWW0

151 EUR
+0.85 (+0.57%)
Last: Feb 3, 2026, 10:09 AM
Fundamental Rating

5

Overall ADS gets a fundamental rating of 5 out of 10. We evaluated ADS against 47 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.
  • ADS had a positive operating cash flow in the past year.
  • ADS had positive earnings in 4 of the past 5 years.
  • ADS had a positive operating cash flow in 4 of the past 5 years.
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's Return On Assets of 6.05% is in line compared to the rest of the industry. ADS outperforms 55.32% of its industry peers.
  • Looking at the Return On Equity, with a value of 21.39%, ADS is in the better half of the industry, outperforming 78.72% of the companies in the same industry.
  • ADS has a better Return On Invested Capital (12.46%) than 74.47% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ADS is significantly below the industry average of 11.96%.
  • The last Return On Invested Capital (12.46%) for ADS is above the 3 year average (5.19%), which is a sign of increasing profitability.
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 51.06% 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's Gross Margin of 51.36% is on the low side compared to the rest of the industry. ADS is outperformed by 68.09% of its industry peers.
  • In the last couple of years the Gross Margin of ADS has remained more or less at the same level.
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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4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ADS is creating value.
  • The number of shares outstanding for ADS remains at a similar level compared to 1 year ago.
  • 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

  • An Altman-Z score of 3.22 indicates that ADS is not in any danger for bankruptcy at the moment.
  • ADS has a better Altman-Z score (3.22) than 68.09% of its industry peers.
  • The Debt to FCF ratio of ADS is 14.32, which is on the high side as it means it would take ADS, 14.32 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 14.32, ADS is not doing good in the industry: 68.09% of the companies in the same industry are doing better.
  • ADS has a Debt/Equity ratio of 0.74. This is a neutral value indicating ADS is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.74, ADS perfoms like the industry average, outperforming 40.43% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.74
Debt/FCF 14.32
Altman-Z 3.22
ROIC/WACC1.87
WACC6.65%
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

  • A Current Ratio of 1.31 indicates that ADS should not have too much problems paying 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 70.21% of its industry peers.
  • A Quick Ratio of 0.71 indicates that ADS may have some problems paying its short term obligations.
  • The Quick ratio of ADS (0.71) is worse than 63.83% of its industry peers.
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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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.
  • 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 9.64% in the last year.
  • The Revenue has been growing slightly by 0.04% on average over the past years.
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

  • Based on estimates for the next years, ADS will show a very strong growth in Earnings Per Share. The EPS will grow by 30.23% on average per year.
  • The Revenue is expected to grow by 7.45% on average over the next years.
EPS Next Y80.51%
EPS Next 2Y59.82%
EPS Next 3Y44.22%
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.
  • 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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5

4. Valuation

4.1 Price/Earnings Ratio

  • ADS is valuated rather expensively with a Price/Earnings ratio of 22.27.
  • 63.83% 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 valuation a bit cheaper than the S&P500 average which is at 28.41.
  • Based on the Price/Forward Earnings ratio of 13.97, the valuation of ADS can be described as correct.
  • Based on the Price/Forward Earnings ratio, ADS is valued a bit cheaper than the industry average as 78.72% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.64, ADS is valued a bit cheaper.
Industry RankSector Rank
PE 22.27
Fwd PE 13.97
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.
  • 72.34% of the companies in the same industry are cheaper than ADS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 71.71
EV/EBITDA 9.63
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)0.28
PEG (5Y)N/A
EPS Next 2Y59.82%
EPS Next 3Y44.22%

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3

5. Dividend

5.1 Amount

  • ADS has a Yearly Dividend Yield of 1.39%.
  • ADS's Dividend Yield is comparable with the industry average which is at 2.24.
  • Compared to the average S&P500 Dividend Yield of 1.83, ADS is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.39%

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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ADIDAS AG

FRA:ADS (2/3/2026, 10:09:11 AM)

151

+0.85 (+0.57%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)10-30
Earnings (Next)03-04
Inst Owners54.91%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap27.18B
Revenue(TTM)24.70B
Net Income(TTM)1.22B
Analysts80.57
Price Target234.53 (55.32%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.39%
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)0.11%
PT rev (3m)-3.3%
EPS NQ rev (1m)-0.68%
EPS NQ rev (3m)4.87%
EPS NY rev (1m)-0.05%
EPS NY rev (3m)-0.41%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.06%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.01%
Valuation
Industry RankSector Rank
PE 22.27
Fwd PE 13.97
P/S 1.1
P/FCF 71.71
P/OCF 29.84
P/B 4.77
P/tB 6.69
EV/EBITDA 9.63
EPS(TTM)6.78
EY4.49%
EPS(NY)10.81
Fwd EY7.16%
FCF(TTM)2.11
FCFY1.39%
OCF(TTM)5.06
OCFY3.35%
SpS137.22
BVpS31.66
TBVpS22.58
PEG (NY)0.28
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 3.22
F-Score7
WACC6.65%
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 Y80.51%
EPS Next 2Y59.82%
EPS Next 3Y44.22%
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 22.27 and the Price/Book (PB) ratio is 4.77.


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%.