Added to YB: 2026-07-29
Pitch date: 2026-05-22
ADS.DE [bullish]
adidas AG
Author Info
No bio for this author
Company Info
adidas AG, together with its subsidiaries, designs, develops, produces, and markets a range of athletic and sports lifestyle products in Europe, Greater China, Japan, South Korea, Latin America, North America, and internationally.
Market Cap
EUR 30.3B
Pitch Price
N/A
Price Target
N/A
Dividend
1.61%
EV/EBITDA
11.49
P/E
22.50
EV/Sales
1.41
Sector
Textiles, Apparel and Luxury Goods
Category
turnaround
adidas AG - $ADS.DE
ADS.DE: Turnaround under CEO Gulden (ex-Puma) leaning into deep retro archive vs fashion risk. Targets HSD rev growth, EBIT margin >10% (from 8.5% FY26), mid-teens EBIT CAGR. Terrace peak/wind-down is key risk. At mid-teens P/E, sees 20%+ IRR/5yr, low-teens downside. 1Bn EUR buyback (4% mcap). China share likely impaired but not needed for thesis.
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