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AMER SPORTS INC (AS) Stock Fundamental Analysis

NYSE:AS - New York Stock Exchange, Inc. - KYG0260P1028 - Common Stock - Currency: USD

21.66  -0.5 (-2.26%)

After market: 21.67 +0.01 (+0.05%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to AS. AS was compared to 50 industry peers in the Textiles, Apparel & Luxury Goods industry. There are concerns on the financial health of AS while its profitability can be described as average. AS is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

AS had positive earnings in the past year.
In the past year AS had a positive cash flow from operations.
AS had negative earnings in 4 of the past 5 years.
Of the past 5 years AS 4 years had a positive operating cash flow.
AS Yearly Net Income VS EBIT VS OCF VS FCFAS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

AS has a Return On Assets of 0.87%. This is comparable to the rest of the industry: AS outperforms 44.00% of its industry peers.
Looking at the Return On Equity, with a value of 1.45%, AS is in line with its industry, outperforming 44.00% of the companies in the same industry.
With a Return On Invested Capital value of 5.14%, AS perfoms like the industry average, outperforming 42.00% of the companies in the same industry.
AS had an Average Return On Invested Capital over the past 3 years of 4.01%. This is significantly below the industry average of 13.61%.
The last Return On Invested Capital (5.14%) for AS is above the 3 year average (4.01%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.87%
ROE 1.45%
ROIC 5.14%
ROA(3y)-1.61%
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.01%
ROIC(5y)N/A
AS Yearly ROA, ROE, ROICAS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 200 -200

1.3 Margins

Looking at the Profit Margin, with a value of 1.41%, AS is in line with its industry, outperforming 44.00% of the companies in the same industry.
The Operating Margin of AS (8.54%) is comparable to the rest of the industry.
AS's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 55.26%, AS is doing good in the industry, outperforming 68.00% of the companies in the same industry.
In the last couple of years the Gross Margin of AS has grown nicely.
Industry RankSector Rank
OM 8.54%
PM (TTM) 1.41%
GM 55.26%
OM growth 3Y14.18%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.11%
GM growth 5YN/A
AS Yearly Profit, Operating, Gross MarginsAS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 20 40

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AS is destroying value.
The number of shares outstanding for AS has been increased compared to 1 year ago.
AS has a better debt/assets ratio than last year.
AS Yearly Shares OutstandingAS Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 100M 200M 300M 400M 500M
AS Yearly Total Debt VS Total AssetsAS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

AS has an Altman-Z score of 3.39. This indicates that AS is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of AS (3.39) is better than 68.00% of its industry peers.
The Debt to FCF ratio of AS is 10.85, which is on the high side as it means it would take AS, 10.85 years of fcf income to pay off all of its debts.
AS has a Debt to FCF ratio of 10.85. This is in the lower half of the industry: AS underperforms 62.00% of its industry peers.
A Debt/Equity ratio of 0.25 indicates that AS is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.25, AS is doing good in the industry, outperforming 62.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 10.85
Altman-Z 3.39
ROIC/WACC0.71
WACC7.23%
AS Yearly LT Debt VS Equity VS FCFAS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

AS has a Current Ratio of 1.54. This is a normal value and indicates that AS is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.54, AS is doing worse than 68.00% of the companies in the same industry.
AS has a Quick Ratio of 1.54. This is a bad value and indicates that AS is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.76, AS is doing worse than 78.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.54
Quick Ratio 0.76
AS Yearly Current Assets VS Current LiabilitesAS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

AS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 133.60%, which is quite impressive.
The Revenue has grown by 18.26% in the past year. This is quite good.
The Revenue has been growing by 19.12% on average over the past years. This is quite good.
EPS 1Y (TTM)133.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%312.5%
Revenue 1Y (TTM)18.26%
Revenue growth 3Y19.12%
Revenue growth 5YN/A
Sales Q2Q%24.37%

3.2 Future

Based on estimates for the next years, AS will show a very strong growth in Earnings Per Share. The EPS will grow by 34.64% on average per year.
Based on estimates for the next years, AS will show a quite strong growth in Revenue. The Revenue will grow by 13.24% on average per year.
EPS Next Y60.2%
EPS Next 2Y45.46%
EPS Next 3Y38.9%
EPS Next 5Y34.64%
Revenue Next Year15.7%
Revenue Next 2Y14.38%
Revenue Next 3Y13.92%
Revenue Next 5Y13.24%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
AS Yearly Revenue VS EstimatesAS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B 8B
AS Yearly EPS VS EstimatesAS Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 2028 2029 0 0.5 -0.5 1 1.5

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 49.23, which means the current valuation is very expensive for AS.
Based on the Price/Earnings ratio, AS is valued a bit more expensive than the industry average as 68.00% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 27.63, AS is valued quite expensively.
AS is valuated quite expensively with a Price/Forward Earnings ratio of 30.73.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AS indicates a slightly more expensive valuation: AS is more expensive than 66.00% of the companies listed in the same industry.
AS is valuated rather expensively when we compare the Price/Forward Earnings ratio to 20.85, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 49.23
Fwd PE 30.73
AS Price Earnings VS Forward Price EarningsAS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, AS is valued a bit more expensive than 68.00% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AS indicates a slightly more expensive valuation: AS is more expensive than 64.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 87.72
EV/EBITDA 18.36
AS Per share dataAS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

AS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
AS's earnings are expected to grow with 38.90% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.82
PEG (5Y)N/A
EPS Next 2Y45.46%
EPS Next 3Y38.9%

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0

5. Dividend

5.1 Amount

No dividends for AS!.
Industry RankSector Rank
Dividend Yield N/A

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AMER SPORTS INC

NYSE:AS (4/21/2025, 8:04:01 PM)

After market: 21.67 +0.01 (+0.05%)

21.66

-0.5 (-2.26%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)02-25 2025-02-25/bmo
Earnings (Next)N/A N/A
Inst Owners32.62%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap11.99B
Analysts82.5
Price Target34.41 (58.86%)
Short Float %2.4%
Short Ratio2.62
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)15.09%
Min EPS beat(2)-2.6%
Max EPS beat(2)32.79%
EPS beat(4)3
Avg EPS beat(4)117.38%
Min EPS beat(4)-2.6%
Max EPS beat(4)253.05%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.21%
Min Revenue beat(2)-0.76%
Max Revenue beat(2)1.18%
Revenue beat(4)3
Avg Revenue beat(4)0.93%
Min Revenue beat(4)-0.76%
Max Revenue beat(4)1.75%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.43%
PT rev (3m)26.39%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.85%
EPS NY rev (1m)-0.67%
EPS NY rev (3m)2.74%
Revenue NQ rev (1m)0.07%
Revenue NQ rev (3m)0.85%
Revenue NY rev (1m)-0.13%
Revenue NY rev (3m)0.84%
Valuation
Industry RankSector Rank
PE 49.23
Fwd PE 30.73
P/S 2.32
P/FCF 87.72
P/OCF 28.24
P/B 2.4
P/tB 42.6
EV/EBITDA 18.36
EPS(TTM)0.44
EY2.03%
EPS(NY)0.7
Fwd EY3.25%
FCF(TTM)0.25
FCFY1.14%
OCF(TTM)0.77
OCFY3.54%
SpS9.33
BVpS9.03
TBVpS0.51
PEG (NY)0.82
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.87%
ROE 1.45%
ROCE 6.51%
ROIC 5.14%
ROICexc 5.42%
ROICexgc 20.29%
OM 8.54%
PM (TTM) 1.41%
GM 55.26%
FCFM 2.65%
ROA(3y)-1.61%
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.01%
ROIC(5y)N/A
ROICexc(3y)4.27%
ROICexc(5y)N/A
ROICexgc(3y)18.87%
ROICexgc(5y)N/A
ROCE(3y)5.08%
ROCE(5y)N/A
ROICexcg growth 3Y16.69%
ROICexcg growth 5YN/A
ROICexc growth 3Y36.01%
ROICexc growth 5YN/A
OM growth 3Y14.18%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.11%
GM growth 5YN/A
F-Score8
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF 10.85
Debt/EBITDA 1.72
Cap/Depr 105.19%
Cap/Sales 5.57%
Interest Coverage 2.24
Cash Conversion 59.38%
Profit Quality 188.29%
Current Ratio 1.54
Quick Ratio 0.76
Altman-Z 3.39
F-Score8
WACC7.23%
ROIC/WACC0.71
Cap/Depr(3y)81.5%
Cap/Depr(5y)67.78%
Cap/Sales(3y)4.31%
Cap/Sales(5y)4.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)133.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%312.5%
EPS Next Y60.2%
EPS Next 2Y45.46%
EPS Next 3Y38.9%
EPS Next 5Y34.64%
Revenue 1Y (TTM)18.26%
Revenue growth 3Y19.12%
Revenue growth 5YN/A
Sales Q2Q%24.37%
Revenue Next Year15.7%
Revenue Next 2Y14.38%
Revenue Next 3Y13.92%
Revenue Next 5Y13.24%
EBIT growth 1Y50.29%
EBIT growth 3Y36.01%
EBIT growth 5YN/A
EBIT Next Year75.37%
EBIT Next 3Y33.93%
EBIT Next 5Y24.7%
FCF growth 1Y189.62%
FCF growth 3Y-6.84%
FCF growth 5YN/A
OCF growth 1Y113.42%
OCF growth 3Y16.59%
OCF growth 5YN/A