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 28,541 - -
Change - -49.23% 33.52% 28.58% -28.61% -5.44% - -
Enterprise Value (EV) 1 47,179 27,302 34,430 45,412 34,121 29,509 29,192 31,967
Change - -42.13% 26.11% 31.9% -24.86% -13.52% -1.07% 9.51%
P/E 23.2x 38.2x -438x 55.3x 22.5x 17.4x 14.1x 11.9x
PBR 6.54x 4.56x 7.18x 7.72x 5.23x 4.61x 3.97x 3.62x
PEG - -0.6x 4x -0x 0.3x 0.7x 0.6x 0.6x
Capitalization / Revenue 2.28x 1.09x 1.53x 1.79x 1.22x 1.06x 0.99x 0.92x
EV / Revenue 2.22x 1.21x 1.61x 1.92x 1.38x 1.1x 1.01x 1.03x
EV / EBITDA 15x 13.4x 23.3x 17.8x 10.6x 8.22x 7.13x 7.1x
EV / EBIT 23.8x 40.8x 128x 34x 16.6x 12.1x 10.4x 9.76x
EV / FCF 18.7x -22.1x 16.2x 19.2x 87.9x 13.5x 12x 11.7x
FCF Yield 5.35% -4.53% 6.17% 5.22% 1.14% 7.4% 8.34% 8.58%
Dividend per Share 2 3.3 0.7 0.7 2 2.8 3.674 4.444 5.114
Rate of return 1.3% 0.55% 0.38% 0.84% 1.66% 2.24% 2.71% 3.12%
EPS 2 10.9 3.34 -0.42 4.28 7.51 9.402 11.66 13.82
Distribution rate 30.3% 21% -167% 46.7% 37.3% 39.1% 38.1% 37%
Net sales 1 21,234 22,511 21,427 23,683 24,811 26,929 28,869 31,019
EBITDA 1 3,135 2,044 1,480 2,545 3,210 3,588 4,097 4,505
EBIT 1 1,986 669 268 1,337 2,056 2,446 2,802 3,274
Net income 1 2,116 612 -75 764 1,340 1,624 1,983 2,284
Net Debt 1 -1,333 2,675 1,548 3,132 3,937 968 651 3,426
Reference price 2 253.20 127.46 184.16 236.80 169.05 164.05 164.05 164.05
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.22x1.39x16.3x4% 61.86B
17.45x1.2x9.02x2.24% 33B
28.41x3.44x16.25x0.76% 22.37B
24.89x2.48x12.44x-.--% 12.43B
14.42x0.84x6.78x5.38% 2.13B
5.83x0.31x1.84x7.6% 1.28B
7.1x0.31x2.09x7.25% 1.26B
7.8x1.28x6.09x11.82% 866M
Average 16.27x 1.41x 8.85x 4.88% 16.9B
Weighted average by Cap. 22.73x 1.75x 13.67x 2.8%

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