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Adidas AG
XETRA:ADS

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Adidas AG
XETRA:ADS
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Price: 141.55 EUR -2.41% Market Closed
Market Cap: €25.5B

EV/EBIT

13.4
Current
62%
Cheaper
vs 3-y average of 35.1

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
13.4
=
Enterprise Value
€27.7B
/
EBIT
€2.1B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
13.4
=
Enterprise Value
€27.7B
/
EBIT
€2.1B

Valuation Scenarios

Adidas AG is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (35.1), the stock would be worth €370.65 (162% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-21%
Maximum Upside
+162%
Average Upside
63%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 13.4 €141.55
0%
3-Year Average 35.1 €370.65
+162%
5-Year Average 26.1 €275.54
+95%
Industry Average 10.5 €111.14
-21%
Country Average 15.5 €164.1
+16%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€27.7B
/
Jan 2026
€2.1B
=
13.4
Current
€27.7B
/
Dec 2026
€2.5B
=
10.9
Forward
€27.7B
/
Dec 2027
€3B
=
9.4
Forward
€27.7B
/
Dec 2028
€3.3B
=
8.4
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
DE
Adidas AG
XETRA:ADS
25.3B EUR 13.4 18.9
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
235.4B EUR 14.4 21.6
FR
Hermes International SCA
PAR:RMS
172.5B EUR 24.2 38.1
KR
SBW
KRX:102280
235.5T KRW -58 109.2 -117 637.1
CH
Compagnie Financiere Richemont SA
SIX:CFR
91.6B CHF 20.2 23.9
FR
EssilorLuxottica SA
PAR:EL
93.3B EUR 30.4 40.3
FR
Christian Dior SE
PAR:CDI
81B EUR 5.9 17.9
IN
Titan Company Ltd
NSE:TITAN
4T INR 57.1 82.9
FR
Kering SA
PAR:KER
29.2B EUR 24.6 409.6
CN
ANTA Sports Products Ltd
HKEX:2020
237.2B HKD 10.1 14.9
US
Tapestry Inc
NYSE:TPR
29.6B USD 19.2 56.7
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DE
Adidas AG
XETRA:ADS
Average EV/EBIT: 22
13.4
17%
0.8
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
14.4
8%
1.8
FR
Hermes International SCA
PAR:RMS
24.2
9%
2.7
KR
SBW
KRX:102280
Negative Multiple: -58 109.2 N/A N/A
CH
Compagnie Financiere Richemont SA
SIX:CFR
20.2
10%
2
FR
EssilorLuxottica SA
PAR:EL
30.4
23%
1.3
FR
Christian Dior SE
PAR:CDI
5.9
N/A N/A
IN
Titan Company Ltd
NSE:TITAN
57.1
29%
2
FR
Kering SA
PAR:KER
24.6
23%
1.1
CN
ANTA Sports Products Ltd
HKEX:2020
10.1
7%
1.4
US
Tapestry Inc
NYSE:TPR
19.2
13%
1.5
P/E Multiple
Earnings Growth PEG
DE
Adidas AG
XETRA:ADS
Average P/E: 72.5
18.9
23%
0.8
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
21.6
11%
2
FR
Hermes International SCA
PAR:RMS
38.1
12%
3.2
KR
SBW
KRX:102280
Negative Multiple: -117 637.1 N/A N/A
CH
Compagnie Financiere Richemont SA
SIX:CFR
23.9
16%
1.5
FR
EssilorLuxottica SA
PAR:EL
40.3
26%
1.6
FR
Christian Dior SE
PAR:CDI
17.9
N/A N/A
IN
Titan Company Ltd
NSE:TITAN
82.9
32%
2.6
FR
Kering SA
PAR:KER
409.6
186%
2.2
CN
ANTA Sports Products Ltd
HKEX:2020
14.9
10%
1.5
US
Tapestry Inc
NYSE:TPR
56.7
107%
0.5

Market Distribution

In line with most companies in Germany
Percentile
41th
Based on 2 187 companies
41th percentile
13.4
Low
0.1 — 10.6
Typical Range
10.6 — 23.1
High
23.1 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 10.6
Median 15.5
70th Percentile 23.1
Max 672.9

Adidas AG
Glance View

Adidas AG, a pillar of the global sportswear industry, traces its roots to the German town of Herzogenaurach in 1949, where it pioneered the fusion of sports and style. Its founder, Adolf Dassler, embarked on a mission to equip athletes with innovative footwear, a philosophy that still reverberates through the company's operations. Today, Adidas crafts its success on a reputation for high-performance athletic gear that stretches beyond the pitch and into the realms of running, training, and lifestyle. The company continuously harnesses cutting-edge technology and design, whether through its Boost midsole technology or the sleek silhouettes of its sneaker collaborations, which merge athletic function with street-ready aesthetics. These innovations position Adidas not only as a trusted outfit for athletes but as a venerated style icon, appealing to a broad demographic eager for both performance and prestige. Adidas's business architecture hinges on a strategic blend of direct-to-consumer sales, wholesale partnerships, and digital endeavors. This multifaceted approach ensures a robust global presence, with brick-and-mortar stores complemented by a streamlined e-commerce platform. In recent years, the company has intensified its focus on sustainability, launching eco-friendly products to meet the rising demand for greener options from conscientious consumers. Adidas nurtures strong alliances with influential sports teams, athletes, and celebrities, weaving these endorsements into the fabric of its marketing strategy. Revenue generation, thus, blooms from an intricate tapestry of product sales, brand loyalty cultivated through strategic advertising, and an expanding subscription service for exclusive releases. With these threads, Adidas deftly navigates the competitive landscape, ensuring its stripes remain synonymous with innovation and excellence in the sportswear arena.

ADS Intrinsic Value
260.64 EUR
Undervaluation 46%
Intrinsic Value
Price €141.55
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