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 29,115 - -
Change - -49.23% 33.52% 28.58% -28.61% -3.54% - -
Enterprise Value (EV) 1 47,179 27,302 34,430 45,412 34,121 32,945 32,788 32,541
Change - -42.13% 26.11% 31.9% -24.86% -3.45% -0.48% -0.75%
P/E 23.2x 38.2x -438x 55.3x 22.5x 17.8x 13.6x 12.1x
PBR 6.54x 4.56x 7.18x 7.72x 5.23x 4.7x 4.05x 3.69x
PEG - -0.6x 4x -0x 0.3x 0.7x 0.4x 1x
Capitalization / Revenue 2.28x 1.09x 1.53x 1.79x 1.22x 1.08x 1.01x 0.94x
EV / Revenue 2.22x 1.21x 1.61x 1.92x 1.38x 1.22x 1.14x 1.05x
EV / EBITDA 15x 13.4x 23.3x 17.8x 10.6x 9.18x 8x 7.22x
EV / EBIT 23.8x 40.8x 128x 34x 16.6x 13.5x 11.3x 9.94x
EV / FCF 18.7x -22.1x 16.2x 19.2x 87.9x 21.3x 13.5x 11.9x
FCF Yield 5.35% -4.53% 6.17% 5.22% 1.14% 4.69% 7.42% 8.43%
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% 2.2% 2.66% 3.06%
EPS 2 10.9 3.34 -0.42 4.28 7.51 9.402 12.33 13.82
Distribution rate 30.3% 21% -167% 46.7% 37.3% 39.1% 36% 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 2,897 3,274
Net income 1 2,116 612 -75 764 1,340 1,624 1,826 2,284
Net Debt 1 -1,333 2,675 1,548 3,132 3,937 3,830 3,673 3,426
Reference price 2 253.20 127.46 184.16 236.80 169.05 167.35 167.35 167.35
Nbr of stocks (in thousands) 191,595 193,215 178,549 178,549 178,549 173,979 - -
Announcement Date 3/9/22 3/8/23 1/31/24 3/4/25 3/3/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.46x1.4x16.45x3.97% 62.47B
17.8x1.22x9.18x2.2% 33.63B
28.81x3.49x16.48x0.75% 22.51B
25.75x2.57x12.93x-.--% 12.84B
14.57x0.84x6.84x5.32% 2.15B
6.11x0.35x2.03x7.26% 1.34B
7.24x0.33x2.17x7.11% 1.28B
14.19x0.36x5.36x1.55% 138M
Average 17.36x 1.32x 8.93x 3.52% 17.04B
Weighted average by Cap. 23.15x 1.78x 13.89x 2.71%

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