adidas AG

WSE:ADS Stock Report

Market Cap: zł122.8b

adidas Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 ADS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Fair Value: ADS (PLN699) is trading below our estimate of fair value (PLN794.09)

Significantly Below Fair Value: ADS 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 ADS?

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

The above table shows the Price to Earnings ratio for ADS. This is calculated by dividing ADS's market cap by their current earnings.
What is ADS's PE Ratio?
PE Ratio24.1x
Earnings€1.21b
Market Cap€29.17b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ADS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.3x
LPP LPP
32.1x30.36%zł39.6b
VRG VRG
11.7x8.62%zł1.1b
ARL Arlen
12.9xn/azł681.7m
TPR Tapestry
100.4x25.08%US$26.3b
ADS adidas
24.1x18.74%zł29.2b

Price-To-Earnings vs Peers: ADS is good value based on its Price-To-Earnings Ratio (24.1x) compared to the peer average (39.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADS 24.1xIndustry Avg. 18.3xNo. of Companies8PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ADS is expensive based on its Price-To-Earnings Ratio (24.1x) compared to the European Luxury industry average (18.3x).

Price to Earnings Ratio vs Fair Ratio

What is ADS'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.

ADS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ADS'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 ADS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł699.00
zł954.02
+36.48%
14.11%zł1,170.40zł673.61n/a27
Dec ’26zł680.20
zł972.09
+42.91%
13.26%zł1,186.12zł737.09n/a28
Nov ’26zł709.00
zł996.43
+40.54%
12.37%zł1,192.07zł779.11n/a28
Oct ’26zł789.60
zł1,002.94
+27.02%
12.10%zł1,192.84zł775.35n/a29
Sep ’26zł728.40
zł1,032.59
+41.76%
11.17%zł1,192.33zł775.01n/a30
Aug ’26zł717.20
zł1,047.88
+46.11%
10.88%zł1,197.33zł778.26n/a31
Jul ’26zł842.20
zł1,075.17
+27.66%
11.69%zł1,274.03zł700.72n/a32
Jun ’26zł945.80
zł1,075.91
+13.76%
11.77%zł1,274.73zł701.10n/a32
May ’26zł931.80
zł1,099.33
+17.98%
10.17%zł1,284.71zł775.11n/a32
Apr ’26zł913.40
zł1,104.10
+20.88%
10.13%zł1,254.86zł752.92n/a30
Mar ’26n/a
zł1,099.95
0%
12.36%zł1,258.25zł671.06n/a29
Feb ’26n/a
zł1,101.34
0%
12.34%zł1,264.65zł674.48n/a29
Jan ’26n/a
zł1,063.60
0%
12.11%zł1,212.77zł680.85zł716.2028
Dec ’25n/a
zł1,082.64
0%
12.24%zł1,235.53zł693.63zł680.2028
Nov ’25zł955.00
zł1,087.26
+13.85%
12.24%zł1,240.81zł696.59zł709.0028
Oct ’25n/a
zł1,035.11
0%
14.91%zł1,286.77zł686.28zł789.6029
Sep ’25n/a
zł1,024.57
0%
15.14%zł1,292.73zł689.46zł728.4028
Aug ’25n/a
zł1,013.73
0%
15.74%zł1,290.58zł688.31zł717.2028
Jul ’25n/a
zł966.17
0%
13.49%zł1,138.33zł646.78zł842.2028
Jun ’25n/a
zł969.15
0%
13.51%zł1,196.02zł650.01zł945.8028
May ’25n/a
zł964.07
0%
13.54%zł1,193.94zł648.88zł931.8028
Apr ’25n/a
zł848.33
0%
15.58%zł991.13zł409.38zł913.4028
Mar ’25zł808.40
zł797.06
-1.40%
16.05%zł978.31zł409.43n/a29
Feb ’25zł693.40
zł804.09
+15.96%
16.24%zł992.58zł409.98n/a29
Jan ’25n/a
zł803.11
0%
16.22%zł988.43zł429.75n/a30
zł967.3
Fair Value
27.7% undervalued intrinsic discount
27
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/06 06:57
End of Day Share Price 2026/01/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

adidas AG is covered by 67 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Knut WollerBaader Helvea Equity Research
Volker BosseBaader Helvea Equity Research
Jonathan KompBaird