adidas AG
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
28.4619.0218.0413.52
Price/Sales ratio
N/AN/AN/AN/A
Earnings per Share (EPS)
$3.45$5.16$5.44$7.26

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
12.1414.1914.6815.4810.7814.5167.6316.4845.64-137.2540.1810.78
Price/Sales ratio
0.400.530.770.800.831.211.471.150.510.481.850.83
Price/Book Value ratio
1.051.582.302.632.874.224.523.272.322.244.072.87
Price/Cash Flow ratio
8.498.2511.0710.306.9310.1719.667.70-21.353.917.556.93
Price/Free Cash Flow ratio
38.9115.6021.4218.959.4613.5828.019.73-9.364.8418.489.46
Price/Earnings Growth ratio
-0.420.790.242.310.190.78-0.860.06-0.550.770.200.19
Dividend Yield
5.27%3.36%2.14%2.38%2.87%2.31%N/A2.37%5.26%1.21%0.34%2.31%
Profitability Indicator Ratios
Gross Profit Margin
47.64%48.28%48.61%50.44%51.85%52.00%49.65%50.69%47.28%47.52%49.95%52.00%
Operating Profit Margin
6.07%6.26%7.72%9.75%10.80%11.25%3.78%9.35%2.97%1.25%3.70%11.25%
Pretax Profit Margin
5.74%6.14%7.48%9.53%10.85%10.82%2.89%8.72%1.72%0.30%3.12%10.82%
Net Profit Margin
3.37%3.74%5.27%5.17%7.76%8.35%2.17%7.02%1.12%-0.35%2.30%8.35%
Effective Tax Rate
32.45%33.97%29.50%33.02%28.13%25.01%25.39%19.43%34.53%190.76%59.01%28.13%
Return on Assets
3.94%4.75%6.70%7.55%10.90%9.55%2.05%6.73%1.25%-0.41%2.66%9.55%
Return On Equity
8.71%11.18%15.71%17.00%26.68%29.07%6.69%19.84%5.08%-1.63%10.67%29.07%
Return on Capital Employed
10.98%13.27%17.72%25.14%26.97%22.30%6.14%15.07%6.06%2.68%7.55%22.30%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1.31N/A
Quick Ratio
1.100.810.750.780.930.780.871.100.620.650.780.78
Cash ratio
0.380.250.220.250.380.250.450.420.080.170.210.25
Days of Sales Outstanding
48.8744.2141.6239.8240.4340.7936.1937.6441.2432.63N/A40.79
Days of Inventory outstanding
121.15129.88138.56128.17119.16131.40160.65139.77183.71146.88145.39119.16
Operating Cycle
170.02174.10180.19167.99159.60172.19196.84177.41224.96179.52145.39172.19
Days of Payables Outstanding
79.2384.4491.9168.5679.5586.9487.3279.9789.4473.8883.2079.55
Cash Conversion Cycle
90.7989.6588.2899.4380.0485.24109.5297.43135.52105.6462.1885.24
Debt Ratios
Debt Ratio
0.150.130.100.070.100.070.150.110.170.160.120.10
Debt Equity Ratio
0.330.320.250.170.260.240.490.330.690.650.490.26
Long-term Debt to Capitalization
0.210.200.130.130.200.190.270.240.370.340.310.20
Total Debt to Capitalization
0.240.240.20.140.200.190.320.240.410.390.330.20
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A3.25N/A
Cash Flow to Debt Ratio
0.370.590.831.471.571.720.461.27-0.150.881.091.72
Company Equity Multiplier
2.202.352.342.252.443.043.262.944.063.933.792.44
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.040.060.060.070.120.110.070.15-0.020.120.120.12
Free Cash Flow / Operating Cash Flow Ratio
0.210.520.510.540.730.740.700.792.270.800.810.73
Cash Flow Coverage Ratio
0.370.590.831.471.571.720.461.27-0.150.881.091.72
Short Term Coverage Ratio
2.432.972.1112.0240.0965.552.16110.06-1.034.7922.0865.55
Dividend Payout Ratio
64.08%47.79%31.46%36.91%31.02%33.60%N/A39.20%240.15%-166.66%N/A33.60%