Amer Sports, Inc. (AS) AI Stock Analysis

• Market Cap: $19.83B
• Dividend Yield: N/A
• Average Volume (3M): 4.77M
• Price to Earnings (P/E): 64.5
• Beta (1Y): 1.07
• Revenue Growth: 25.90%
• EPS Growth: N/A
• Country: US
• Employees: 13,400
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 0.33
• Shares Outstanding: 553,845,340
• 10 Day Avg. Volume: 3,418,335
• 30 Day Avg. Volume: 4,773,297
• PEG Ratio: -1.42
• Price to Book (P/B): 2.79
• Price to Sales (P/S): 2.69
• P/FCF Ratio: 101.86
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 3.46
• Enterprise Value/Gross Profit: 6.05
• Enterprise Value/Ebitda: 30.93
• 1Y Price Target: $45.82
• Price Target Upside: 27.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 0.9
• Revenue Forecast (FY): $6.44B

• Rating: 75 Outperform
• Price Target: $39.00 ▲(8.91% Upside)

Amer Sports, Inc. receives a strong score driven by excellent financial performance and a highly positive earnings call. However, the stock's high valuation and mixed technical indicators slightly temper the overall outlook.

Positive Factors

Revenue Growth

Strong revenue growth across all segments and regions indicates robust market demand and effective business strategies, supporting long-term expansion.

Margin Expansion

Improved margins reflect operational efficiency and cost management, enhancing profitability and competitive positioning over time.

Direct-to-Consumer Success

Growth in direct-to-consumer sales strengthens brand control and customer engagement, potentially leading to higher margins and customer loyalty.

Negative Factors

Inventory Growth

Rising inventory levels could indicate potential overproduction or demand forecasting issues, which may lead to increased holding costs and reduced cash flow.

Distribution Challenges

Distribution issues in key markets like the U.S. can hinder sales growth and brand presence, impacting long-term market penetration and revenue.

Historical High Debt Levels

Past high debt levels, despite recent improvements, may limit financial flexibility and increase vulnerability to economic downturns.

Amer Sports, Inc. Business Overview & Revenue Model

Company Description

Amer Sports, Inc. designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. The company operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports. The Technical Apparel segment offers outdoor apparel, footwear, and accessories under the Arc'teryx and Peak Performance brands. The Outdoor Performance segment provides outdoor apparel, footwear, accessories, and winter sports equipment under the Salomon, Atomic, Armada, and ENVE brands. The Ball & Racquet Sports segment offers sports equipment, apparel, and accessories under the Wilson, DeMarini, Louisville Slugger, EvoShield, and ATEC brands. The company also provides climbing gears, hiking and running footwear, skiing and snowboarding gears, functional athletic apparel, and lifestyle footwear, as well as sporting equipment for tennis, baseball, American football, basketball, golf, and various other professional and recreational sports. It sells its products through its retail stores, general sporting goods retailers, specialty stores, independently operated partner stores, and distributors, as well as its e-commerce websites, and retailer-owned and third-party e-commerce websites. The company was formerly known as Amer Sports Management Holding (Cayman) Limited and changed its name to Amer Sports, Inc. in August 2023. Amer Sports, Inc. was founded in 1950 and is based in Helsinki, Finland.

How the Company Makes Money

Amer Sports generates revenue primarily through the sale of its diverse range of sporting goods, which includes equipment, apparel, and footwear. The company's revenue model is supported by multiple key streams: direct sales to consumers via retail channels, online sales through e-commerce platforms, and wholesale distribution to third-party retailers. Significant partnerships with sports organizations and athletes enhance brand visibility and credibility, driving sales. Seasonal demand, particularly in winter sports and summer outdoor activities, influences revenue cycles. Additionally, the company invests in marketing strategies that leverage sponsorships and endorsements to boost brand recognition and sales.

Amer Sports, Inc. Financial Statement Overview

Summary

Amer Sports, Inc. shows strong financial performance with significant revenue and profit growth, improved margins, and effective cash flow management. The company has reduced leverage and improved equity utilization, although historical high debt levels remain a consideration.

Income Statement

Amer Sports, Inc. has demonstrated strong revenue growth with a 7.06% increase in TTM, supported by a solid gross profit margin of 57.23%. The company has improved its net profit margin to 5.10% from previous negative figures, indicating enhanced profitability. EBIT and EBITDA margins have also shown positive trends, reflecting operational efficiency.

Balance Sheet

The balance sheet shows a stable debt-to-equity ratio of 0.33, indicating manageable leverage. Return on equity has improved to 5.83%, suggesting better utilization of equity. The equity ratio stands at 58.17%, reflecting a strong equity base relative to total assets. However, historical high leverage poses a potential risk.

Cash Flow

Cash flow analysis reveals a robust free cash flow growth of 15.66% in TTM, indicating improved cash generation. The operating cash flow to net income ratio of 0.24 suggests moderate cash conversion efficiency. The free cash flow to net income ratio of 0.58 highlights a healthy cash flow relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.10B	5.18B	4.40B	3.57B	3.07B	2.45B
Gross Profit	3.49B	2.87B	2.31B	1.79B	1.51B	1.15B
EBITDA	682.80M	653.80M	518.00M	258.30M	381.60M	342.70M
Net Income	311.30M	72.60M	-208.60M	-252.70M	-126.30M	-237.20M
Balance Sheet
Total Assets	9.71B	8.34B	8.37B	7.40B	6.99B	8.62B
Cash, Cash Equivalents and Short-Term Investments	353.30M	345.40M	483.40M	402.00M	566.70M	389.50M
Total Debt	1.87B	1.48B	6.66B	6.24B	6.30B	6.99B
Total Liabilities	4.04B	3.33B	8.53B	7.47B	6.96B	8.78B
Stockholders Equity	5.65B	5.00B	-160.20M	-69.24M	33.42M	-152.90M
Cash Flow
Free Cash Flow	269.70M	183.00M	59.90M	-179.30M	202.10M	205.80M
Operating Cash Flow	511.20M	424.70M	199.00M	-91.70M	268.00M	297.90M
Investing Cash Flow	-332.70M	-268.30M	-154.80M	-118.60M	295.40M	-106.70M
Financing Cash Flow	-137.40M	-266.00M	35.00M	81.10M	-369.70M	-165.30M

Amer Sports, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 35.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AS, the sentiment is Positive. The current price of 35.81 is above the 20-day moving average (MA) of 33.93, above the 50-day MA of 32.98, and above the 200-day MA of 33.14, indicating a bullish trend. The MACD of 1.23 indicates Negative momentum. The RSI at 60.33 is Neutral, neither overbought nor oversold. The STOCH value of 59.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AS.

Amer Sports, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
YETI	78 Outperform	$3.37B	22.56	21.77%	―	1.56%	-17.21%
AS	75 Outperform	$19.83B	64.45	6.38%	―	25.90%	―
GOLF	74 Outperform	$4.90B	22.86	25.91%	1.12%	4.20%	24.12%
LTH	71 Outperform	$5.89B	20.83	10.38%	―	15.77%	86.16%
MODG	63 Neutral	$2.12B	―	-46.95%	―	-3.58%	-12720.97%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PTON	45 Neutral	$2.68B	―	―	―	-8.74%	74.66%

Amer Sports, Inc. Corporate Events

Amer Sports Releases Q3 2025 Financial Results

On November 18, 2025, Amer Sports, Inc. released its unaudited interim consolidated financial statements for the three and nine months ending September 30, 2025. This release includes management’s discussion and analysis of the company’s financial condition and results of operations. The announcement provides stakeholders with insights into the company’s financial performance and strategic positioning, reflecting its ongoing commitment to transparency and operational excellence.

Amer Sports Reports Strong Q3 2025 Results and Raises Full-Year Guidance

On November 18, 2025, Amer Sports, Inc. announced its financial results for the third quarter of 2025, reporting a 30% increase in revenue to $1,756 million compared to the same period in 2024. The company saw strong growth across all regions and segments, particularly in Greater China and its Outdoor Performance and Technical Apparel segments. The company also raised its full-year revenue, margin, and EPS guidance, reflecting its strong performance and momentum in the sports and outdoor markets. This positive financial outlook suggests a solid positioning for Amer Sports in the premium sports market, benefiting stakeholders and enhancing long-term value creation.

Amer Sports Announces Board Changes with New Appointment

On November 6, 2025, Amer Sports, Inc. announced the resignation of Ling Xiong from its Board of Directors, a decision not influenced by any disagreements with the company’s management or policies. Concurrently, the Board appointed Wei Lin as a new director and member of the Nominating and Corporate Governance Committee. Lin, who is currently the Vice President at Anta Sports Products Limited, brings extensive experience in governance frameworks and sustainability, which could enhance Amer Sports’ strategic direction.

Amer Sports Raises Q3 2025 Guidance and Reaffirms Long-Term Growth Strategy

On September 18, 2025, Amer Sports, Inc. announced an increase in its financial guidance for the third quarter of 2025 and reiterated its long-term financial algorithm during an Investor Day event. The company expects strong third-quarter results driven by growth in its Salomon Softgoods and Arc’teryx segments. The updated guidance predicts year-over-year revenue growth in the high 20s percentage and an adjusted operating margin at or above the high end of the previous 12-13% range. This announcement underscores Amer Sports’ confidence in its premium sports and outdoor brands’ long-term growth potential.