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adidas AG (1ADS) Fair Value & Analysis

Consumer Cyclical · IT · Market cap €32.3B

AA adidas AG 1ADS · MI
Price€184.40
Fair Value€81.86
Upside-55.6%
Quality60/100
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Evidence: High Range €48.05 – €119.06

Fair value as of: Jul 3, 2026

From 25 valuation models · updated today

Share price +10.7% over the past month.

Price vs Fair Value (12 months)

€208.49 €128.98 Fair Value €81.86 Jul 2025 Jul 2026

12‑month range €128.98 – €208.49 · fair‑value band €48.05 – €119.06 · the €184.40 price screens above the €81.86 fair value. As of Jul 3, 2026.

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Analysis

adidas AG (1ADS) currently trades at €184.40, while our model-based Fair Value estimate is €81.86 — implying the stock looks roughly 55.6% overvalued today. We read business quality at 60/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, adidas AG generated revenue of €25.3B at a net margin of 5.5%. Revenue grew 7.1% year over year. It earns a return on equity of 22.9%. Net debt stands at €1.3B. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) €25.3B
Revenue growth (YoY) +7.1%
Net margin 5.5%
Return on equity 22.9%
Free cash flow €274M FY2025
P/E ratio 23.6
More key figures
Operating margin 10.7%
EPS (TTM) €7.72
Dividend yield 1.6%
EPS growth (YoY) +13.3%
Net debt €1.3B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

adidas AG reported revenue of €24.8B in FY2025 versus €21.2B in FY2021, a compound +4.0%/yr. Reported net income was €1.3B in FY2025, compounding −10.8%/yr from FY2021.

Revenue +4.0%/yr
FY21 €21.2B
FY22 €22.5B
FY23 €21.4B
FY24 €23.7B
FY25 €24.8B
Net income −10.8%/yr
FY21 €2.1B
FY22 €612M
FY23 −€75.0M
FY24 €764M
FY25 €1.3B

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Similar stocks

6 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE €39.88 €32.06 -20%
ASICS Corporation ASCCY $26.56 $19.43 -27%
Deckers Outdoor Corporation DECK $105.57 $172.88 +64%
On Holding ONON $36.21 $20.28 -44%
Zhejiang China Commodities City Group 600415 ¥10.63 ¥26.58 +150%
Birkenstock Holding BIRK $43.95 $35.45 -19%

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Frequently asked questions

Is adidas AG (1ADS) undervalued?
As of Jul 3, 2026, our model estimates a fair value of €81.86 versus a price of €184.40 — about −56% (overvalued). Model-based estimate, not financial advice.
What is the fair value of 1ADS?
Our model-based fair value for adidas AG is €81.86 (as of Jul 3, 2026), built from audited fundamentals. The current price is €184.40.
What is the quality score of 1ADS?
adidas AG has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of adidas AG (1ADS)?
adidas AG reported trailing-twelve-month revenue of about €25.3B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of 1ADS?
The net profit margin of adidas AG is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does adidas AG pay a dividend?
adidas AG currently shows a dividend yield of about 1.55% relative to its recent price (as of Jul 3, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.