Assessing Amer Sports (NYSE:AS) Valuation After Its Strong Year-to-Date Share Price Rally

Amer Sports (NYSE:AS) has quietly put together a strong run, with the stock climbing about 34% year to date and roughly 51% over the past year as revenue and earnings growth pick up.

See our latest analysis for Amer Sports.

That move has been reinforced by a sharp 30 day share price return of about 31% and a 1 year total shareholder return just over 50%, suggesting momentum is building as investors lean into its growth story.

If Amer Sports’ run has you thinking about what else could surprise to the upside, this is a good moment to explore fast growing stocks with high insider ownership.

Yet with Amer Sports still trading around 20% below consensus price targets despite brisk growth, the key question now is whether the market is underestimating its earnings power or is already pricing in the next leg of expansion.

Most Popular Narrative Narrative: 16.6% Undervalued

With Amer Sports closing at $38.68 versus a narrative fair value nearer to the mid 40s, the valuation case hinges on aggressive growth and margin expansion.

Ongoing investment in direct-to-consumer channels (both physical stores and e-commerce) is fueling higher full-price sales, reduced markdowns, and enhanced customer engagement, supporting scalable top-line growth and driving adjusted operating margin expansion.

Read the complete narrative.

Curious how double digit growth, fatter margins, and a rich future earnings multiple can all coexist in one story? See how these assumptions stack up against that fair value call.

Result: Fair Value of $46.38 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, the narrative could unravel if Asia Pacific growth stalls or heavy DTC expansion lifts costs faster than revenue and margin gains materialize.

Find out about the key risks to this Amer Sports narrative.

Another Way to Look at Valuation

While the growth narrative suggests upside, Amer Sports trades on a rich 68.9x earnings multiple, far above the US Luxury industry at 20.6x and peers at 35.7x, and well above its 28.4x fair ratio. That gap points to real valuation risk if execution slips. Does the story still hold up?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Amer Sports Narrative

If you are not completely sold on this view, or simply prefer running your own numbers, you can build a custom scenario in minutes with Do it your way.

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Amer Sports.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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