Added to YB: 2026-09-18
Pitch date: 2026-09-15
PUM.DE [neutral]
PUMA SE
Author Info
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Company Info
PUMA SE, together with its subsidiaries, engages in the development and sale of sports and sports lifestyle products in Europe, Middle East, Africa, India, North America, Latin America, Greater China, Rest of Asia-Pacific, and internationally.
Market Cap
EUR 3.2B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
25.57
P/E
-7.05
EV/Sales
0.79
Sector
Textiles, Apparel and Luxury Goods
Category
turnaround
Opportunity in a Destroyed Sector - Pass: PUMA SE
PUM.DE (pass): Puma remains a pass despite early turnaround signs under Adidas veteran Arthur Hoeld and the senior team built around him. The company is cutting low-tier discount wholesalers, clearing inventory, narrowing its category focus, eliminating ~1,400 corporate roles and emphasizing DTC. Gross margins are improving and inventory is falling, but the brand remains damaged and revenue is still weak almost everywhere; evidence of better operating margins and revenue is needed.
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