A Business at a Glance
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Amer Sports, Inc.
AS
$19.7B
Mkt Cap
$33.92
+1.86%
Amer Sports, Inc. (AS) has a current P/E ratio of 44.6, compared to its historical median P/E of 50.5. The stock is currently considered Cheap based on its historical valuation range.
Amer Sports, Inc. (AS) has a 5-year average return on invested capital (ROIC) of 7.9%. This is below average and may indicate limited pricing power.
Amer Sports, Inc. (AS) has a market capitalization of $19.7B. It is classified as a large-cap stock.
Amer Sports, Inc. (AS) does not currently pay a regular dividend.
Based on historical P/E analysis, Amer Sports, Inc. (AS) appears cheap. The current P/E of 44.6 is 12% below its historical median of 50.5. The estimated fair value CAGR (P/E method) is 91.1%.
Amer Sports, Inc. (AS) operates in the Apparel & Other Finishd Prods Of Fabrics & Similar Matl industry, within the Consumer Cyclical sector.
Amer Sports, Inc. (AS) reported annual revenue of $6.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Table of Contents ITEM 4. INFORMATION ON THE COMPANY A. History and Development of the Company We were incorporated under the name of “Amer Sports Management Holding (Cayman) Limited” as an exempted company with limited liability under the laws of the Cayman Islands on January 3, 2020. On August 4, 2023, we changed our name to Amer Sports, Inc. Our registered office is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands. Our telephone number at this address is +1 345 945 3901. Our corporate offices are located at Siltasaarenkatu 8-10, Fl-00530 Helsinki, Finland. Our telephone number at this address is +358 207 122 500. Our agent for service of process in the United States is Andrew E. Page, Chief Financial Officer, Interim President & CEO of Wilson, located at 149 Fifth Avenue, 9th Floor, New York, NY, 10010. Our principal website is www.amersports.com.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.6B | 6.6B | 5.2B | 4.4B | 3.6B | 3.1B |
| Net Income | 440M | 440M | 78M | -209M | -253M | -126M |
| EPS | $0.76 | $0.76 | $0.14 | $-0.54 | $-0.66 | $-0.33 |
| Free Cash Flow | 718M | 718M | 404M | 177M | -93M | 207M |
| ROIC | 8.1% | 8.6% | 11.4% | 3.6% | - | 388.6% |
| Gross Margin | 57.6% | 57.6% | 55.4% | 52.5% | 50.0% | 49.1% |
| Debt/Equity | 0.16 | 0.16 | 0.19 | -54.40 | - | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 702M | 702M | 471M | 303M | 51M | 187M |
| Operating Margin | 10.7% | 10.7% | 9.1% | 6.9% | 1.4% | 6.1% |
| ROE | 7.6% | 8.1% | 3.2% | - | - | -332.4% |
| Shares Outstanding | 579M | 579M | 560M | 387M | 383M | 383M |
| Metric | 2021 | 2022 | ||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 3.1B | 3.6B | 4.4B | 5.2B | 6.6B | 6.6B |
| Gross Margin | 49.1% | 50.0% | 52.5% | 55.4% | 57.6% | 57.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.3B | 1.5B | 2.0B | 2.4B | 3.1B | 3.1B |
| EBIT | 187M | 51M | 303M | 471M | 702M | 702M |
| Op. Margin | 6.1% | 1.4% | 6.9% | 9.1% | 10.7% | 10.7% |
| Net Income | -126M | -253M | -209M | 78M | 440M | 440M |
| Net Margin | -4.1% | -7.1% | -4.7% | 1.5% | 6.7% | 6.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | N/M | N/A | 3.6% | 11.4% | 8.6% | 8.1% |
| ROE | -332.4% | N/A | N/A | 3.2% | 8.1% | 7.6% |
| ROA | N/A | N/A | -2.5% | 0.9% | 4.8% | 4.4% |
| Cash Flow | ||||||
| Op. Cash Flow | 268M | -92M | 199M | 425M | 730M | 730M |
| Free Cash Flow | 207M | -93M | 177M | 404M | 718M | 718M |
| Owner Earnings | 62M | -289M | -22M | 151M | 346M | 346M |
| CapEx | 61M | 1.0M | 22M | 20M | 12M | 12M |
| Maint. CapEx | 206M | 197M | 221M | 274M | 384M | 384M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 206M | 197M | 221M | 274M | 384M | 384M |
| CapEx/OCF | N/A | N/A | N/A | 4.8% | 1.6% | 1.6% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | N/A | N/A | N/A | 582M | 283M | 283M |
| Cash & Equiv. | 567M | 402M | 483M | 345M | 652M | 652M |
| Long-Term Debt | N/A | N/A | N/A | 791M | 792M | 792M |
| Debt/Equity | N/A | N/A | -54.40 | 0.19 | 0.16 | 0.16 |
| Interest Coverage | 0.7 | 0.2 | 0.8 | 2.1 | 7.2 | 7.2 |
| Equity | 38M | -74M | -157M | 5.0B | 5.8B | 5.8B |
| Total Assets | N/A | N/A | 8.4B | 8.4B | 10.1B | 10.1B |
| Total Liabilities | N/A | N/A | 8.5B | 3.4B | 4.2B | 4.2B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | -1.1B | N/A | N/A | N/A |
| Working Capital | N/A | N/A | 778M | 845M | 1.1B | 1.1B |
| Current Assets | N/A | N/A | 2.4B | 2.4B | 3.3B | 3.3B |
| Current Liabilities | N/A | N/A | 1.6B | 1.6B | 2.2B | 2.2B |
| Per Share Data | ||||||
| EPS | -0.33 | -0.66 | -0.54 | 0.14 | 0.76 | 0.76 |
| Owner EPS | 0.16 | -0.75 | -0.06 | 0.27 | 0.60 | 0.60 |
| Book Value | 0.10 | -0.19 | -0.41 | 8.94 | 10.05 | 10.05 |
| Cash Flow/Share | 0.70 | -0.24 | 0.51 | 0.76 | 1.26 | 1.42 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 382.7M | 382.9M | 386.7M | 560.0M | 579.5M | 579.5M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | 203.0 | 50.5 | 44.6 |
| P/FCF | N/A | N/A | N/A | 39.4 | 31.0 | 27.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 28.4 |
| Price/Book | N/A | N/A | N/A | 3.2 | 3.8 | 3.4 |
| Price/Sales | N/A | N/A | N/A | 1.8 | 2.9 | 3.0 |
| FCF Yield | N/A | N/A | N/A | 2.5% | 3.2% | 3.7% |
| Market Cap | N/A | N/A | N/A | 15.9B | 22.2B | 19.7B |
| Avg. Price | N/A | N/A | N/A | 16.24 | 33.07 | 33.92 |
| Year-End Price | N/A | N/A | N/A | 28.42 | 38.37 | 33.92 |
Amer Sports, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Amer Sports, Inc. trades at 44.6x trailing earnings, compared to its 15-year median P/E of 50.5x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 27.4x vs a median of 35.2x. The company's 5-year average ROIC is 7.9% with a gross margin of 52.9%. At current prices, the estimated annualized return to fair value is +22.1%.
Amer Sports, Inc. (AS) has a net profit margin of 6.7%. This is a modest margin.
Amer Sports, Inc. (AS) generated $718 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Amer Sports, Inc. (AS) has a debt-to-equity ratio of 0.16. This indicates a conservatively financed balance sheet.
Amer Sports, Inc. (AS) reported earnings per share (EPS) of $0.76 in its most recent fiscal year.
Amer Sports, Inc. (AS) has a return on equity (ROE) of 8.1%. This indicates moderate shareholder returns.
Amer Sports, Inc. (AS) has a 5-year average gross margin of 52.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for Amer Sports, Inc. (AS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Amer Sports, Inc. (AS) has a book value per share of $10.05, based on its most recent annual SEC filing.