adidas AG

BUSE:ADIDAS Stock Report

Market Cap: Ft15.8t

adidas Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: ADIDAS (HUF86200) is trading below our estimate of fair value (HUF89664.22)

Significantly Below Fair Value: ADIDAS is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As ADIDAS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ADIDAS. This is calculated by dividing ADIDAS's market cap by their current earnings.
What is ADIDAS's PE Ratio?
PE Ratio100.5x
Earnings€381.00m
Market Cap€38.28b

Price to Earnings Ratio vs Peers

How does ADIDAS's PE Ratio compare to its peers?

The above table shows the PE ratio for ADIDAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.6x
LULU Lululemon Athletica
23.8x7.2%US$38.9b
KER Kering
12.4x7.8%€25.8b
2020 ANTA Sports Products
15.6x7.8%HK$222.0b
500114 Titan
90.5x25.7%₹2.9t
ADIDAS adidas
100.5x38.1%Ft38.3b

Price-To-Earnings vs Peers: ADIDAS is expensive based on its Price-To-Earnings Ratio (100.5x) compared to the peer average (35.6x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADIDAS 100.5xIndustry Avg. 14.2xNo. of Companies6PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ADIDAS is expensive based on its Price-To-Earnings Ratio (100.5x) compared to the European Luxury industry average (14.2x).

Price to Earnings Ratio vs Fair Ratio

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

ADIDAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio100.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ADIDAS's Price-To-Earnings Fair Ratio for valuation analysis.

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 ADIDAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentFt86,200.00
Ft102,792.48
+19.2%
12.2%Ft117,309.12Ft65,857.75n/a28
Nov ’25Ft88,700.00
Ft101,930.04
+14.9%
12.2%Ft116,324.89Ft65,305.20n/a28
Oct ’25Ft94,800.00
Ft96,028.83
+1.3%
14.9%Ft119,375.69Ft63,667.04n/a29
Sep ’25n/a
Ft94,683.67
0%
15.1%Ft119,465.69Ft63,715.03n/a28
Aug ’25Ft93,100.00
Ft93,388.92
+0.3%
15.7%Ft118,892.85Ft63,409.52n/a28
Jul ’25n/a
Ft88,523.43
0%
13.5%Ft104,296.26Ft59,259.24n/a28
Jun ’25Ft85,000.00
Ft87,117.03
+2.5%
13.5%Ft107,510.32Ft58,429.52n/a28
May ’25Ft91,060.00
Ft86,866.35
-4.6%
13.5%Ft107,578.92Ft58,466.80n/a28
Apr ’25Ft79,200.00
Ft77,508.33
-2.1%
15.6%Ft90,555.99Ft37,403.56n/a28
Mar ’25Ft74,300.00
Ft71,680.47
-3.5%
16.3%Ft88,976.94Ft36,751.35n/a29
Feb ’25Ft64,030.00
Ft71,313.54
+11.4%
16.2%Ft88,030.00Ft36,360.22n/a29
Jan ’25n/a
Ft70,765.92
0%
16.2%Ft87,095.74Ft37,867.71n/a30
Dec ’24Ft73,400.00
Ft69,780.48
-4.9%
15.3%Ft83,489.15Ft37,949.61n/a30
Nov ’24Ft65,900.00
Ft70,223.36
+6.6%
17.8%Ft90,039.77Ft34,483.32Ft88,700.0030
Oct ’24Ft65,200.00
Ft70,325.34
+7.9%
18.2%Ft90,165.78Ft34,531.57Ft94,800.0029
Sep ’24n/a
Ft69,406.38
0%
18.7%Ft90,106.61Ft34,508.92n/a30
Aug ’24Ft71,100.00
Ft67,414.14
-5.2%
19.3%Ft86,651.42Ft32,734.98Ft93,100.0029
Jul ’24n/a
Ft60,513.39
0%
19.4%Ft80,200.07Ft31,560.21n/a28
Jun ’24Ft56,080.00
Ft57,989.03
+3.4%
20.6%Ft76,540.98Ft28,044.02Ft85,000.0030
May ’24n/a
Ft54,967.73
0%
20.7%Ft74,627.43Ft27,985.28Ft91,060.0029
Apr ’24Ft60,910.00
Ft54,713.62
-10.2%
19.7%Ft74,488.08Ft28,503.09Ft79,200.0029
Mar ’24Ft52,500.00
Ft50,534.62
-3.7%
22.2%Ft76,994.53Ft26,112.49Ft74,300.0030
Feb ’24Ft56,800.00
Ft53,986.49
-5.0%
20.4%Ft76,223.61Ft29,574.76Ft64,030.0031
Jan ’24Ft50,580.00
Ft54,994.46
+8.7%
22.0%Ft80,252.20Ft31,137.85n/a31
Dec ’23Ft49,600.00
Ft54,915.51
+10.7%
22.2%Ft80,389.26Ft31,191.03Ft73,400.0031
Nov ’23Ft40,350.00
Ft54,451.33
+34.9%
31.0%Ft111,534.36Ft35,819.45Ft65,900.0030

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

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