adidas AG

WSE:ADS Stock Report

Market Cap: zł180.5b

adidas Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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.

Below Fair Value: ADS (PLN1008.5) is trading above our estimate of fair value (PLN963.65)

Significantly Below Fair Value: ADS is trading above our estimate of fair value.

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 Ratio111x
Earnings€381.00m
Market Cap€42.28b

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 Average16.2x
LPP LPP
16.6x18.4%zł29.6b
VRG VRG
8.2x2.8%zł740.9m
KER Kering
13.9x10.2%€28.9b
LULU Lululemon Athletica
26.1x6.6%US$46.6b
ADS adidas
111x32.4%zł42.3b

Price-To-Earnings vs Peers: ADS is expensive based on its Price-To-Earnings Ratio (111x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADS 111.0xIndustry Avg. 16.5xNo. of Companies7PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ADS is expensive based on its Price-To-Earnings Ratio (111x) compared to the European Luxury industry average (16.2x).

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 Ratio111x
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
Currentn/a
zł1,063.60
0%
12.1%zł1,212.77zł680.85n/a28
Dec ’25n/a
zł1,087.26
0%
12.2%zł1,240.81zł696.59n/a28
Nov ’25zł955.00
zł1,087.26
+13.8%
12.2%zł1,240.81zł696.59n/a28
Oct ’25n/a
zł1,035.11
0%
14.9%zł1,286.77zł686.28n/a29
Sep ’25n/a
zł1,024.57
0%
15.1%zł1,292.73zł689.46n/a28
Aug ’25n/a
zł1,013.73
0%
15.7%zł1,290.58zł688.31n/a28
Jul ’25n/a
zł966.17
0%
13.5%zł1,138.33zł646.78n/a28
Jun ’25n/a
zł969.15
0%
13.5%zł1,196.02zł650.01n/a28
May ’25n/a
zł964.07
0%
13.5%zł1,193.94zł648.88n/a28
Apr ’25n/a
zł848.33
0%
15.6%zł991.13zł409.38n/a28
Mar ’25zł808.40
zł798.55
-1.2%
16.3%zł991.24zł409.43n/a29
Feb ’25zł693.40
zł804.09
+16.0%
16.2%zł992.58zł409.98n/a29
Jan ’25n/a
zł803.11
0%
16.2%zł988.43zł429.75n/a30
Dec ’24n/a
zł804.33
0%
15.3%zł962.35zł437.43n/a30
Nov ’24zł747.70
zł817.84
+9.4%
17.8%zł1,048.63zł401.60zł955.0030
Oct ’24n/a
zł850.29
0%
18.2%zł1,090.18zł417.52n/a29
Sep ’24n/a
zł810.95
0%
18.7%zł1,052.81zł403.21n/a30
Aug ’24zł825.90
zł772.35
-6.5%
19.3%zł992.74zł375.04n/a29
Jul ’24zł792.00
zł725.03
-8.5%
19.4%zł960.91zł378.13n/a28
Jun ’24n/a
zł707.10
0%
20.6%zł933.32zł341.96n/a30
May ’24n/a
zł674.14
0%
20.7%zł915.26zł343.22n/a29
Apr ’24n/a
zł673.80
0%
19.7%zł917.32zł351.02n/a29
Mar ’24n/a
zł632.91
0%
22.2%zł964.31zł327.04zł808.4030
Feb ’24n/a
zł650.13
0%
20.4%zł917.91zł356.15zł693.4031
Jan ’24n/a
zł626.69
0%
22.0%zł914.52zł354.83n/a31

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 09:16
End of Day Share Price 2024/12/05 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

adidas AG is covered by 82 analysts. 26 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Hans-Peter WodniokAlphaValue
Daniela NedialkovaAtlantic Equities LLP
Volker BosseBaader Helvea Equity Research