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Amer Sports, Inc. (AS)
:AS
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Amer Sports, Inc.
(NYSE:AS)
Rating:77Outperform
Price Target:
$47.00
▲(19.53% Upside)
Positive Factors
Investor Day
The upcoming Investor Day is expected to be a key positive catalyst for the stock, with long-term guidance and a deep dive on core assets.
Revenue and Margin Forecasts
Management has raised revenue and margin forecasts despite facing higher tariff headwinds, indicating confidence in future performance.
Sales Growth
There is a strong runway for sales growth with margin expansion driven by the group’s uniquely positioned portfolio.
Negative Factors
Stock Valuation
The stock reaction indicates that positives are already priced in at current valuation levels.
Wholesale Timing Shift
A $10M wholesale timing shift negatively impacted 2Q sales for Arc’teryx.
Amer Sports, Inc. (AS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$21.78B
Dividend YieldN/A
Average Volume (3M)4.21M
Price to Earnings (P/E)95.5
Beta (1Y)1.05
Revenue Growth22.86%
EPS GrowthN/A
CountryUS
Employees13,400
SectorGeneral
Sector StrengthN/A
IndustryLeisure
Share Statistics
EPS (TTM)0.06
Shares Outstanding553,845,340
10 Day Avg. Volume6,442,010
30 Day Avg. Volume4,205,887
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue4.22
Enterprise Value/Gross Profit7.51
Enterprise Value/Ebitda29.37
Forecast
1Y Price Target
$44.00Price Target Upside11.90% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
Amer Sports, Inc. Business Overview & Revenue Model
Company DescriptionAmer Sports, Inc. is a global sporting goods company that specializes in the design, manufacture, and distribution of sports equipment, apparel, and footwear. The company operates in various sectors, including outdoor, ball sports, and fitness. It owns a portfolio of internationally recognized brands such as Salomon, Arc'teryx, Wilson, Atomic, and Suunto, catering to a diverse range of consumers from professional athletes to recreational enthusiasts.
How the Company Makes MoneyAmer Sports, Inc. generates revenue primarily through the sale of its branded sports equipment, apparel, and footwear. The company sells its products through multiple channels, including wholesale to retail partners, direct-to-consumer via e-commerce platforms, and brick-and-mortar stores. Key revenue streams include the outdoor segment, which features brands like Salomon and Arc'teryx, the ball sports segment led by Wilson, and the fitness segment including products from Precor. Significant partnerships, such as endorsements and collaborations with athletes and sports teams, also bolster its market presence and drive sales. Additionally, Amer Sports invests in R&D to innovate and improve product offerings, thus enhancing its competitive edge in the sporting goods industry.
Amer Sports, Inc. Earnings Call Summary
Earnings Call Date:Aug 19, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 25, 2025
Earnings Call Sentiment Positive
Amer Sports demonstrated strong growth across key segments such as Outdoor Performance and Technical Apparel, with significant contributions from brands like Arc'teryx and Salomon. However, challenges in the Americas, the impact of tariffs, and leadership transitions at Wilson present some headwinds. Overall, the positive trends in sales and strategic positioning in key markets outweigh the challenges faced.Q2-2025 Updates
Positive Updates
Strong Sales and Earnings Growth
Amer Sports reported a 23% increase in sales (22% excluding currency impact) and a 260 basis points expansion in adjusted operating margin, driven by strong performance across Outdoor Performance and Technical Apparel segments.
Arc'teryx Momentum and Store Expansion
Arc'teryx experienced continued momentum with a 15% omni-channel comp growth and opened 7 net new stores in Q2, including new locations in Milano, Stockholm, and Vancouver.
Salomon Footwear Acceleration
Salomon brand continued to accelerate globally, with a 28% omni-channel comp growth driven by strong demand for its sneaker and apparel lines, particularly in Greater China and APAC.
Wilson's Tennis 360 Success
Wilson's Tennis 360 initiative continued to resonate well with consumers, contributing to an 11% growth in the Ball & Racquet segment, despite ongoing transitions in leadership.
Negative Updates
Challenges in the Americas
Growth in the Americas decelerated to 6% due to normalizing growth in Ball & Racquet and a tougher comparison from wholesale shipment shifts.
Tariff Impact and Inventory Concerns
Higher tariffs than expected are anticipated to impact Ball & Racquet slightly more than anticipated. Inventory levels increased by 29% year-over-year, higher than the 23% sales growth.
Ball & Racquet Leadership Transition
Joe Dudy stepped down as President and CEO of Wilson, leading to a leadership transition during a critical growth period for the brand.
Company Guidance
During the Amer Sports second quarter fiscal 2025 earnings call, the company provided guidance for both the third quarter and the full fiscal year. For 2025, they raised their revenue growth expectation to 20-21% and adjusted their gross margin guidance to approximately 57.5%. The Technical Apparel segment is expected to grow 22-25%, Outdoor Performance 22-25%, and Ball & Racquet 7-9%. The adjusted operating margin guidance was increased to 11.8-12.2%. For the third quarter, Amer Sports anticipates a revenue growth of about 20% and an adjusted operating margin of 12-13%. Adjusted diluted earnings per share for the third quarter are forecasted to be $0.20 to $0.22. The company also remains confident in managing through tariff impacts, expecting negligible effects on the consolidated results due to strategic pricing power and low U.S. revenue exposure.Amer Sports, Inc. Financial Statement Overview
Summary
Amer Sports, Inc. presents a strong financial position with significant revenue and profit growth, efficient operations, and sound financial management. The company's balance sheet is stable with low leverage and high equity, while its cash flow indicates strong cash generation and management. These factors position Amer Sports, Inc. well for future growth and financial health, although continued monitoring of net profitability improvements is advisable.Income Statement
Amer Sports, Inc. shows strong growth in revenue, with a Revenue Growth Rate of 5.25% in TTM compared to the previous year. The Gross Profit Margin is robust at 56.26% TTM, indicating efficient production. However, the Net Profit Margin, though improved, remains modest at 3.71% TTM. The EBIT Margin and EBITDA Margin are healthy at 10.56% and 11.65% TTM, respectively, reflecting operational efficiency.78
Positive
Balance Sheet
The Balance Sheet of Amer Sports, Inc. demonstrates stability with a Debt-to-Equity Ratio of 0.29 TTM, showcasing prudent leverage. Return on Equity is strong at 3.87% TTM, indicating efficient use of capital. The Equity Ratio of 61.18% TTM highlights a solid financial structure, with a significant portion of assets financed by equity.85
Very Positive
Cash Flow
Amer Sports, Inc. exhibits a robust Free Cash Flow Growth Rate of 75.41%, indicating strong cash generation capabilities. The Operating Cash Flow to Net Income Ratio of 2.33 TTM demonstrates excellent cash conversion efficiency. The Free Cash Flow to Net Income Ratio stands at 1.19 TTM, suggesting effective cash management.82
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.46B | 5.18B | 4.37B | 3.38B | 2.59B | 2.15B |
| Gross Profit | 3.07B | 2.87B | 2.28B | 1.68B | 1.27B | 1.01B |
| EBITDA | 784.40M | 653.80M | 521.10M | 414.66M | 381.60M | 342.70M |
| Net Income | 202.10M | 72.60M | -208.60M | -235.21M | -204.99M | -208.07M |
Balance Sheet | ||||||
| Total Assets | 8.53B | 8.34B | 8.37B | 7.40B | 6.99B | 8.62B |
| Cash, Cash Equivalents and Short-Term Investments | 422.10M | 345.40M | 483.40M | 376.67M | 498.33M | 389.50M |
| Total Debt | 1.53B | 1.48B | 6.66B | 5.84B | 5.54B | 6.99B |
| Total Liabilities | 3.30B | 3.33B | 8.53B | 7.47B | 6.96B | 8.78B |
| Stockholders Equity | 5.22B | 5.00B | -160.20M | -69.24M | 33.42M | -152.90M |
Cash Flow | ||||||
| Free Cash Flow | 260.40M | 136.70M | 47.20M | -201.15M | 143.06M | 167.64M |
| Operating Cash Flow | 471.90M | 424.70M | 199.00M | -87.25M | 226.74M | 261.32M |
| Investing Cash Flow | -270.20M | -268.30M | -154.80M | -112.85M | 249.92M | -93.60M |
| Financing Cash Flow | -108.50M | -266.00M | 35.00M | 77.17M | -312.78M | -145.00M |
Amer Sports, Inc. Technical Analysis
Positive
39.32
Price Trends
38.31
Positive
34.32
Positive
31.07
Positive
Market Momentum
0.68
Negative
52.37
Neutral
73.73
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 39.32 is above the 20-day moving average (MA) of 38.62, above the 50-day MA of 38.31, and above the 200-day MA of 31.07, indicating a bullish trend. The MACD of 0.68 indicates Negative momentum. The RSI at 52.37 is Neutral, neither overbought nor oversold. The STOCH value of 73.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AS.
Amer Sports, Inc. Risk Analysis
Amer Sports, Inc. disclosed 70 risk factors in its most recent earnings report. Amer Sports, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Summary of Risk Factors Q4, 2024
Amer Sports, Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $21.78B | 95.53 | 4.71% | ― | 22.86% | ― | |
74 Outperform | $4.50B | 20.49 | 27.51% | 1.22% | 3.83% | 28.57% | |
68 Neutral | $2.86B | 16.77 | 23.49% | ― | 3.63% | -2.60% | |
68 Neutral | $6.14B | 27.33 | 8.66% | ― | 17.25% | 93.88% | |
57 Neutral | $1.76B | ― | -46.53% | ― | -2.35% | -7104.57% | |
55 Neutral | $6.43B | -2.52 | -4.30% | 5.96% | 15.30% | 11.62% | |
50 Neutral | $3.10B | ― | 58.47% | ― | -7.76% | 79.66% |
* General Sector Average
Performance Comparison
AS
Amer Sports, Inc.
39.32
25.93
193.65%
MODG
Topgolf Callaway Brands
9.56
-0.76
-7.36%
GOLF
Acushnet Holdings
76.65
11.24
17.18%
YETI
Yeti Holdings
35.16
-3.94
-10.08%
PTON
Peloton Interactive
7.60
3.12
69.64%
LTH
Life Time Group Holdings
27.92
4.50
19.21%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.