adidas AG

BRSE:ADS Stock Report

Market Cap: CHF 37.1b

adidas Valuation

Is ADS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ADS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ADS (CHF350.7) is trading below our estimate of fair value (CHF450.1)

Significantly Below Fair Value: ADS is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ADS?

Other financial metrics that can be useful for relative valuation.

ADS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2x
Enterprise Value/EBITDA36.2x
PEG Ratio4.9x

Price to Sales Ratio vs Peers

How does ADS's PS Ratio compare to its peers?

The above table shows the PS ratio for ADS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
CFR Compagnie Financière Richemont
4.2x5.5%CHF 81.3b
UHR Swatch Group
1.3x3.7%CHF 9.4b
CALN CALIDA Holding
0.8x-3.6%CHF 236.1m
KER Kering
1.7x5.1%€31.9b
ADS adidas
1.8x8.4%CHF 39.1b

Price-To-Sales vs Peers: ADS is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (2x).

Price to Earnings Ratio vs Industry

How does ADS's PE Ratio compare vs other companies in the European Luxury Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.4%
 n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.4%
 n/an/an/a
No more companies

Price-To-Sales vs Industry: ADS is expensive based on its Price-To-Sales Ratio (1.8x) compared to the European Luxury industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is ADS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ADS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ratio2.8x

Price-To-Sales vs Fair Ratio: ADS is good value based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (2.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ADS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 350.70
CHF 227.37
-35.2%
15.1%CHF 286.88CHF 153.00n/a28
Aug ’25CHF 350.70
CHF 222.15
-36.7%
15.7%CHF 282.82CHF 150.84n/a28
Jul ’25CHF 350.70
CHF 215.63
-38.5%
13.5%CHF 254.05CHF 144.35n/a28
Jun ’25CHF 350.70
CHF 218.38
-37.7%
13.5%CHF 269.50CHF 146.47n/a28
May ’25CHF 350.70
CHF 219.01
-37.6%
13.5%CHF 271.23CHF 147.41n/a28
Apr ’25CHF 350.70
CHF 191.52
-45.4%
15.6%CHF 223.76CHF 92.42n/a28
Mar ’25CHF 350.70
CHF 174.81
-50.2%
16.3%CHF 216.99CHF 89.63n/a29
Feb ’25CHF 350.70
CHF 173.71
-50.5%
16.2%CHF 214.43CHF 88.57n/a29
Jan ’25CHF 350.70
CHF 177.18
-49.5%
16.2%CHF 218.07CHF 94.81n/a30
Dec ’24CHF 350.70
CHF 177.32
-49.4%
15.3%CHF 212.16CHF 96.44n/a30
Nov ’24CHF 350.70
CHF 173.39
-50.6%
17.8%CHF 222.32CHF 85.14n/a30
Oct ’24CHF 350.70
CHF 175.78
-49.9%
18.2%CHF 225.37CHF 86.31n/a29
Sep ’24CHF 350.70
CHF 173.12
-50.6%
18.7%CHF 224.75CHF 86.07n/a30
Aug ’24CHF 350.70
CHF 167.77
-52.2%
19.3%CHF 215.64CHF 81.46CHF 350.7029
Jul ’24CHF 350.70
CHF 159.37
-54.6%
19.4%CHF 211.22CHF 83.12CHF 350.7028
Jun ’24CHF 350.70
CHF 152.53
-56.5%
20.6%CHF 201.33CHF 73.77CHF 350.7030
May ’24CHF 350.70
CHF 145.20
-58.6%
20.7%CHF 197.13CHF 73.92CHF 350.7029
Apr ’24CHF 350.70
CHF 142.86
-59.3%
19.7%CHF 194.49CHF 74.42CHF 350.7029
Mar ’24CHF 350.70
CHF 135.76
-61.3%
22.2%CHF 206.84CHF 70.15CHF 350.7030
Feb ’24CHF 350.70
CHF 137.45
-60.8%
20.4%CHF 194.06CHF 75.30CHF 350.7031
Jan ’24CHF 350.70
CHF 131.76
-62.4%
22.0%CHF 192.28CHF 74.60CHF 350.7031
Dec ’23CHF 350.70
CHF 131.39
-62.5%
22.2%CHF 192.34CHF 74.63CHF 350.7031
Nov ’23CHF 350.70
CHF 131.19
-62.6%
31.0%CHF 268.71CHF 86.30CHF 350.7030
Oct ’23CHF 350.70
CHF 185.68
-47.1%
24.8%CHF 323.64CHF 114.23CHF 350.7030
Sep ’23CHF 350.70
CHF 199.36
-43.2%
23.1%CHF 333.91CHF 117.85CHF 350.7030
Aug ’23CHF 350.70
CHF 204.53
-41.7%
25.7%CHF 330.62CHF 116.69CHF 350.7031

Analyst Forecast: Target price is less than 20% higher than the current share price.

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