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 31,863 - -
Change - -49.23% 33.52% 28.58% -28.61% 5.56% - -
Enterprise Value (EV) 1 47,179 27,302 34,430 45,412 34,121 35,766 35,706 35,515
Change - -42.13% 26.11% 31.9% -24.86% 4.82% -0.17% -0.53%
P/E 23.2x 38.2x -438x 55.3x 22.5x 19.4x 15.7x 13.2x
PBR 6.54x 4.56x 7.18x 7.72x 5.23x 4.85x 4.21x 3.87x
PEG - -0.6x 4x -0x 0.3x 0.8x 0.7x 0.7x
Capitalization / Revenue 2.28x 1.09x 1.53x 1.79x 1.22x 1.2x 1.12x 1.04x
EV / Revenue 2.22x 1.21x 1.61x 1.92x 1.38x 1.34x 1.25x 1.16x
EV / EBITDA 15x 13.4x 23.3x 17.8x 10.6x 9.96x 8.8x 7.98x
EV / EBIT 23.8x 40.8x 128x 34x 16.6x 15.1x 13.2x 11.5x
EV / FCF 18.7x -22.1x 16.2x 19.2x 87.9x 15.9x 22.7x 12.9x
FCF Yield 5.35% -4.53% 6.17% 5.22% 1.14% 6.3% 4.41% 7.78%
Dividend per Share 2 3.3 0.7 0.7 2 2.8 3.835 4.637 5.186
Rate of return 1.3% 0.55% 0.38% 0.84% 1.66% 2.11% 2.55% 2.85%
EPS 2 10.9 3.34 -0.42 4.28 7.51 9.365 11.57 13.81
Distribution rate 30.3% 21% -167% 46.7% 37.3% 41% 40.1% 37.6%
Net sales 1 21,234 22,511 21,427 23,683 24,811 26,603 28,569 30,707
EBITDA 1 3,135 2,044 1,480 2,545 3,210 3,592 4,059 4,448
EBIT 1 1,986 669 268 1,337 2,056 2,361 2,708 3,086
Net income 1 2,116 612 -75 764 1,340 1,481 1,979 2,135
Net Debt 1 -1,333 2,675 1,548 3,132 3,937 3,904 3,843 3,652
Reference price 2 253.20 127.46 184.16 236.80 169.05 181.70 181.70 181.70
Nbr of stocks (in thousands) 191,595 193,215 178,549 178,549 178,549 175,359 - -
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.($)
27x1.36x17.99x3.97% 60.35B
25.9x3.11x14.64x0.85% 19.54B
24.74x2.45x12.36x-.--% 12.27B
13.62x0.83x6.39x5.95% 2.15B
7.34x0.34x2.28x6.96% 1.33B
4.97x0.18x1.06x8.89% 1.12B
7.39x1.3x5.94x8.29% 876M
13.04x0.35x5.22x1.69% 117M
Average 15.50x 1.24x 8.23x 4.58% 12.22B
Weighted average by Cap. 25.49x 1.81x 15.83x 3.03%

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