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Adidas AG
XETRA:ADS

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Adidas AG
XETRA:ADS
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Price: 137.8 EUR 1.14% Market Closed
Market Cap: €24.8B

EV/S

1.1
Current
33%
Cheaper
vs 3-y average of 1.6

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

EV/S
1.1
=
Enterprise Value
€27.7B
/
Revenue
€24.8B

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

EV/S
1.1
=
Enterprise Value
€27.7B
/
Revenue
€24.8B

Valuation Scenarios

Adidas AG is trading below its 3-year average

If EV/S returns to its 3-Year Average (1.6), the stock would be worth €204.97 (49% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-16%
Maximum Upside
+54%
Average Upside
27%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 1.1 €137.8
0%
3-Year Average 1.6 €204.97
+49%
5-Year Average 1.7 €211.57
+54%
Industry Average 0.9 €115.81
-16%
Country Average 1.3 €170.38
+24%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
€27.7B
/
Jan 2026
€24.8B
=
1.1
Current
€27.7B
/
Dec 2026
€26.6B
=
1
Forward
€27.7B
/
Dec 2027
€28.6B
=
1
Forward
€27.7B
/
Dec 2028
€30.8B
=
0.9
Forward
€27.7B
/
Dec 2029
€32.6B
=
0.8
Forward
€27.7B
/
Dec 2030
€35.3B
=
0.8
Forward
€27.7B
/
Dec 2031
€36.1B
=
0.8
Forward
€27.7B
/
Dec 2032
€38.1B
=
0.7
Forward
€27.7B
/
Dec 2033
€40.1B
=
0.7
Forward

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

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
DE
Adidas AG
XETRA:ADS
24.6B EUR 1.1 18.4
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
232B EUR 3.1 21.3
FR
Hermes International SCA
PAR:RMS
173.8B EUR 10.2 38.4
KR
SBW
KRX:102280
235.5T KRW 2 563.2 -117 637.1
CH
Compagnie Financiere Richemont SA
SIX:CFR
88.4B CHF 4.2 23.8
FR
EssilorLuxottica SA
PAR:EL
86.4B EUR 3.4 37.3
FR
Christian Dior SE
PAR:CDI
79.7B EUR 1.3 17.6
IN
Titan Company Ltd
NSE:TITAN
3.9T INR 5.4 82.7
FR
Kering SA
PAR:KER
29.9B EUR 2.8 419.3
CN
ANTA Sports Products Ltd
HKEX:2020
233.4B HKD 2.4 14.8
US
Tapestry Inc
NYSE:TPR
29.7B USD 4.1 56.8
P/E Multiple
Earnings Growth PEG
DE
Adidas AG
XETRA:ADS
Average P/E: 73.1
18.4
23%
0.8
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
21.3
11%
1.9
FR
Hermes International SCA
PAR:RMS
38.4
12%
3.2
KR
SBW
KRX:102280
Negative Multiple: -117 637.1 N/A N/A
CH
Compagnie Financiere Richemont SA
SIX:CFR
23.8
16%
1.5
FR
EssilorLuxottica SA
PAR:EL
37.3
26%
1.4
FR
Christian Dior SE
PAR:CDI
17.6
N/A N/A
IN
Titan Company Ltd
NSE:TITAN
82.7
32%
2.6
FR
Kering SA
PAR:KER
419.3
186%
2.3
CN
ANTA Sports Products Ltd
HKEX:2020
14.8
10%
1.5
US
Tapestry Inc
NYSE:TPR
56.8
107%
0.5

Market Distribution

In line with most companies in Germany
Percentile
43rd
Based on 2 724 companies
43rd percentile
1.1
Low
0 — 0.7
Typical Range
0.7 — 2.5
High
2.5 —
Distribution Statistics
Germany
Min 0
30th Percentile 0.7
Median 1.3
70th Percentile 2.5
Max 21 171.2

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 47%
Intrinsic Value
Price €137.8
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