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Market Closed -
Xetra
16:35:20 25/09/2026 BST
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After hours 17:25:56 | |||
| 146.50 EUR | +2.99% |
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147.10 | +0.41% |
| 03:35pm | Will 2026 finally mark a turning point for Adidas? |  |
| 01:45pm | Metzler: Adidas' Investor Event Underpins Midterm Growth Targets; Buy Rating Maintained | MT |
Company Valuation: adidas AG
Data adjusted to current consolidation scope
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Market Cap 1 | 48,512 | 24,627 | 32,882 | 42,280 | 30,184 | 24,749 | - | - |
| Change | - | -49.23% | 33.52% | 28.58% | -28.61% | -18.01% | - | - |
| Enterprise Value (EV) 1 | 47,179 | 27,302 | 34,430 | 45,412 | 34,121 | 28,742 | 28,575 | 28,341 |
| Change | - | -42.13% | 26.11% | 31.9% | -24.86% | -15.76% | -0.58% | -0.82% |
| P/E | 23.2x | 38.2x | -438x | 55.3x | 22.5x | 15.1x | 12.2x | 10.3x |
| PBR | 6.54x | 4.56x | 7.18x | 7.72x | 5.23x | 4.05x | 3.51x | 3.25x |
| PEG | - | -0.6x | 4x | -0x | 0.3x | 0.6x | 0.5x | 0.6x |
| Capitalization / Revenue | 2.28x | 1.09x | 1.53x | 1.79x | 1.22x | 0.92x | 0.86x | 0.8x |
| EV / Revenue | 2.22x | 1.21x | 1.61x | 1.92x | 1.38x | 1.07x | 0.99x | 0.91x |
| EV / EBITDA | 15x | 13.4x | 23.3x | 17.8x | 10.6x | 8.05x | 7.01x | 6.35x |
| EV / EBIT | 23.8x | 40.8x | 128x | 34x | 16.6x | 11.7x | 9.89x | 8.69x |
| EV / FCF | 18.7x | -22.1x | 16.2x | 19.2x | 87.9x | 14x | 12.2x | 10.8x |
| FCF Yield | 5.35% | -4.53% | 6.17% | 5.22% | 1.14% | 7.15% | 8.17% | 9.3% |
| Dividend per Share 2 | 3.3 | 0.7 | 0.7 | 2 | 2.8 | 3.557 | 4.337 | 5.007 |
| Rate of return | 1.3% | 0.55% | 0.38% | 0.84% | 1.66% | 2.5% | 3.05% | 3.52% |
| EPS 2 | 10.9 | 3.34 | -0.42 | 4.28 | 7.51 | 9.407 | 11.7 | 13.79 |
| Distribution rate | 30.3% | 21% | -167% | 46.7% | 37.3% | 37.8% | 37.1% | 36.3% |
| Net sales 1 | 21,234 | 22,511 | 21,427 | 23,683 | 24,811 | 26,943 | 28,917 | 31,120 |
| EBITDA 1 | 3,135 | 2,044 | 1,480 | 2,545 | 3,210 | 3,570 | 4,078 | 4,460 |
| EBIT 1 | 1,986 | 669 | 268 | 1,337 | 2,056 | 2,450 | 2,891 | 3,260 |
| Net income 1 | 2,116 | 612 | -75 | 764 | 1,340 | 1,621 | 1,981 | 2,269 |
| Net Debt 1 | -1,333 | 2,675 | 1,548 | 3,132 | 3,937 | 3,994 | 3,827 | 3,592 |
| Reference price 2 | 253.20 | 127.46 | 184.16 | 236.80 | 169.05 | 142.25 | 142.25 | 142.25 |
| Nbr of stocks (in thousands) | 191,595 | 193,215 | 178,549 | 178,549 | 178,549 | 173,979 | - | - |
| Announcement Date | 09/03/22 | 08/03/23 | 31/01/24 | 04/03/25 | 03/03/26 | - | - | - |
1EUR in Million2EUR
Estimates
P/E, Detailed evolution
| P/E (N) | EV / Sales (N) | EV / EBITDA (N) | Dividend Yield (N) | Capi.($) | ||
|---|---|---|---|---|---|---|
 | 15.1x | 1.07x | 8.05x | 2.5% | 28.14B | |
| 21.39x | 1.21x | 14.47x | 4.69% | 53.39B | |
| 22.68x | 2.74x | 12.52x | 1.08% | 18.33B | |
| 20.62x | 2.05x | 10.24x | -.--% | 10.18B | |
| 15.87x | 0.84x | 7.9x | 5.18% | 2.15B | |
| 5.6x | 0.34x | 1.96x | 7.81% | 1.23B | |
| 7.12x | 0.35x | 2.27x | 7.5% | 1.2B | |
| 6.95x | 1.21x | 5.7x | 11.5% | 810M | |
| 11.89x | 0.34x | 5.07x | 1.85% | 119M | |
| Average | 14.14x | 1.13x | 7.57x | 4.68% | 12.84B | |
| Weighted average by Cap. | 19.46x | 1.47x | 11.77x | 3.29% |
Y-o-Y evolution of P/E
Historical PBR trend
Evolution Enterprise Value / Sales
Change in Enterprise Value/EBITDA
Year-on-year evolution of the Yield
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- ADS Stock
- Valuation adidas AG
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