adidas AG (0OLD) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of adidas AG €28.19, price €143, upside -80.3%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range €91.35 – €318.47 · fair‑value band €19.96 – €32.09 · the €143.40 price screens above the €28.19 fair value. Dashed = 300-day average. As of Sep 29, 2026.
adidas AG, together with its subsidiaries, designs, develops, produces, and markets a range of athletic and sports lifestyle products in Europe, Greater China, Japan, South Korea, Latin America, North America, and internationally.
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adidas AG, together with its subsidiaries, designs, develops, produces, and markets a range of athletic and sports lifestyle products in Europe, Greater China, Japan, South Korea, Latin America, North America, and internationally. The company offers footwear and apparel, as well as accessories and gear, including bags, balls, sunglasses, and fitness equipment under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand. It sells its products through its own retail stores, mono-branded franchise stores, shop-in-shops, joint ventures with retail partners, and co-branded stores, as well as through its wholesale and e-commerce platforms. The company was formerly known as adidas-Salomon AG and changed its name to adidas AG in June 2006. adidas AG was founded in 1920 and is headquartered in Herzogenaurach, Germany.
Stock analysis
adidas AG (0OLD) currently trades at €143.40, while our model-based Fair Value estimate is €28.19, 80.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €29.48 per share, and 0 of the 14 models we run sit above the €143.40 price.
Bear case: the Earnings-Based group reads lowest at €11.14, and 14 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: €19.96 (bear) to €32.09 (bull), the price of €143.40 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
adidas AG reported revenue of €19.8B in FY2020 versus €18.5B in FY2016, a compound +1.8%/yr. Reported net income was €431M in FY2020, compounding −19.3%/yr from FY2016.
Key figures
Market cap €46.1B · P/S ratio 1.83 · Dividend yield 2.0% · Net margin 2.2% · Return on equity 22.9% · Return on assets (EBIT) 11.3% · Operating margin 10.7% · Revenue (TTM) €25.3B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 49% fair-value upside, at −80%, 0OLD screens richer than that median.
Fair Value models
Bear €19.96Fair Value €28.19Bull €32.09
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.11/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−16.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.2%
’16
’17
’18
’19
’20
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
8.5% (2016) → 3.8% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Footwear & Accessories · 91 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−83.7% · Bottom 25%
Profitability
Return on equity (TTM)22.9% · Top 25%
Return on assets6.6% · Top 25%
Net margin (TTM)5.5% · Above median
Operating margin (TTM)10.7% · Top 25%
Growth and dividend
Revenue growth7.1% · Above median
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equity0.39× · Highest 25%
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
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Cite: Fair Value Calculator (2026). "adidas AG Fair Value". https://www.fairvalue-calculator.com/stock/0OLD
Frequently asked questions
Is adidas AG (0OLD) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €28.19 versus a price of €143.40, about −80% upside (overvalued).
What is the fair value of 0OLD?
Our model-based fair value for adidas AG is €28.19 (as of Sep 29, 2026), built from audited fundamentals. The current price: €143.40.
What is the quality score of 0OLD?
adidas AG has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for adidas AG (0OLD)?
Our model-based price target is the fair value of €28.19 (as of Sep 29, 2026) from 14 valuation models. Cautious scenario €19.96, optimistic scenario €32.09. It is a calculation from audited fundamentals, not an analyst target.
What is the adidas AG stock forecast for 2026?
Our models put fair value at €28.19, about −80% upside versus a price of €143.40 (overvalued). Cautious scenario €19.96, optimistic scenario €32.09. The calculation is refreshed regularly with new filings.
What is the revenue of adidas AG (0OLD)?
adidas AG reported trailing-twelve-month revenue of about €25.3B (latest available figure, as of Sep 29, 2026).
Does adidas AG pay a dividend?
adidas AG currently shows a dividend yield of about 1.95% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of adidas AG (0OLD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For adidas AG it is €28.19 per share (as of Sep 29, 2026), against a price of €143.40. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is adidas AG stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 0OLD trades above its calculated fair value: price €143.40, fair value €28.19, a gap of about −80% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0OLD?
No. The price is what the market pays today (€143.40); the fair value is what the company's own numbers justify (€28.19). For adidas AG the two are €115.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is adidas AG worth?
The market values adidas AG at about €46.1B (market capitalisation, as of Sep 29, 2026). Per share that is €143.40; our models calculate a fair value of €28.19 per share.
What do the bullish and bearish scenarios say about 0OLD?
Our models span a range for adidas AG: cautious scenario €19.96, base €28.19, optimistic €32.09 per share (as of Sep 29, 2026, price €143.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of adidas AG (0OLD)?
Balance-sheet figures for adidas AG (as of Sep 29, 2026): return on equity 22.9%, debt of 0.39 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 0OLD from its 52-week high?
adidas AG trades at €143.40, about 25% below its 52-week high of €191.32 and 11% above the low of €129.07 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €28.19 is for.
Which stocks are comparable to adidas AG?
From the same area (Consumer Cyclical) we also value NIKE, Inc, Deckers Outdoor Corporation, On Holding, Zhejiang China Commodities City Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is adidas AG stock attractive at the current price?
The data as of Sep 29, 2026: price €143.40, calculated fair value €28.19 (−80%), Quality Score 47/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0OLD calculated?
We run adidas AG through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €28.19, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. adidas AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of adidas AG (0OLD)?
The closing price on Oct 2, 2026 was €143.40. Our model-based fair value is €28.19, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with adidas AG right now?
The price sits above even our optimistic bull case (€32.09). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of adidas AG
How large is the market capitalisation of adidas AG (0OLD)?
The market capitalisation of adidas AG is €46.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of adidas AG (0OLD)?
The price-to-sales ratio of adidas AG is 1.83 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of adidas AG (0OLD)?
The dividend yield of adidas AG is 2.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of adidas AG (0OLD)?
The net margin of adidas AG is 2.2% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of adidas AG (0OLD)?
The return on equity (ROE) of adidas AG is 22.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of adidas AG (0OLD)?
On an EBIT basis the return on assets of adidas AG is 11.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of adidas AG (0OLD)?
The operating margin of adidas AG is 10.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at adidas AG (0OLD)?
Revenue at adidas AG is growing +7.1% versus a year earlier (3y avg −2.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at adidas AG (0OLD)?
Earnings per share at adidas AG are growing +13.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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