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PUMA SE NPV (DE:PUM)
XETRA:PUM
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PUMA SE NPV
(XETRA:PUM)
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Select Model
Rating:64Neutral
Price Target:
€22.50
▲(8.17% Upside)
PUMA SE's overall stock score is driven by strong financial performance and short-term technical momentum. However, the negative P/E ratio and longer-term bearish trends weigh down the score. The absence of earnings call data and corporate events limits additional insights.
Positive Factors
Revenue Growth
Consistent revenue growth indicates PUMA's successful market expansion and product adoption, enhancing its competitive position in the global market.
Operational Efficiency
Stable EBIT and EBITDA margins suggest effective cost management and operational efficiency, supporting sustainable profitability over time.
Cash Flow Generation
Steady growth in operating cash flow demonstrates PUMA's strong cash generation ability, providing financial flexibility for future investments and growth.
Negative Factors
Net Profit Margin Fluctuations
Fluctuating net profit margins indicate challenges in converting revenue into profit, potentially impacting long-term profitability and shareholder returns.
Return on Equity
Low return on equity suggests limited efficiency in using shareholder funds to generate profits, which could affect investor confidence and long-term growth.
Free Cash Flow to Net Income Ratio
A need to improve the conversion of profits into cash may limit PUMA's ability to reinvest in growth opportunities and manage financial obligations effectively.
PUMA SE NPV (PUM) vs. iShares MSCI Germany ETF (EWG)
Market Cap
$3.14B
Dividend Yield2.93%
Average Volume (3M)1.23M
Price to Earnings (P/E)18.5
Beta (1Y)0.97
Revenue Growth1.21%
EPS Growth-136.95%
CountryDE
Employees22,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-1.67
Shares Outstanding148,007,920
10 Day Avg. Volume672,348
30 Day Avg. Volume1,227,436
Financial Highlights & Ratios
PEG Ratio-3.39
Price to Book (P/B)2.33
Price to Sales (P/S)0.75
P/FCF Ratio15.27
Enterprise Value/Market Cap1.82
Enterprise Value/Revenue0.67
Enterprise Value/Gross Profit1.31
Enterprise Value/Ebitda14.68
Forecast
1Y Price Target
$24.06Price Target Upside15.68% Upside
Rating ConsensusHold
Number of Analyst Covering17
PUMA SE NPV Business Overview & Revenue Model
Company DescriptionPUMA SE, together with its subsidiaries, designs, develops, sells, and markets footwear, apparel, and accessories for men, women, and kids in Europe, the Middle East, Africa, the Americas, Greater China, and the Asia Pacific. The company offers performance and sport-inspired lifestyle products in categories, such as football, cricket, handball, rugby, volleyball, running, training and fitness, golf, and motorsports. It also issues licenses to independent partners to design, develop, manufacture, and sell watches, glasses, safety shoes, and gaming accessories, such as the Playseat. The company sells its products through PUMA retail stores and factory outlets, as well as through online stores. It offers its products primarily under the PUMA and Cobra Golf brand names. The company was founded in 1924 and is headquartered in Herzogenaurach, Germany.
How the Company Makes MoneyPUMA generates revenue primarily through the sale of its products, which include footwear, apparel, and accessories for various sports and lifestyle applications. The company operates through multiple distribution channels, including branded retail stores, e-commerce platforms, and third-party retailers. Key revenue streams include direct-to-consumer sales, wholesale partnerships, and licensing agreements. Significant partnerships with athletes, teams, and fashion influencers help enhance brand visibility and drive sales. Additionally, PUMA focuses on expanding its global presence, particularly in emerging markets, to reach a broader customer base and increase its market share.
PUMA SE NPV Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Neutral
The earnings call demonstrates a mix of positive developments and ongoing challenges. Growth in the DTC business and successful product launches are counterbalanced by regional struggles in North America and China, declining gross margins, and increased operating expenses, all compounded by uncertainties around US tariffs.Q1-2025 Updates
Positive Updates
Direct-to-Consumer Business Growth
PUMA's DTC business grew by 12%, with e-commerce leading at 17.3%, showing robust growth across all regions.
Successful Product Launches
PUMA launched several successful products, including the Fast-R 3 running shoe and the PUMA MB.04 Golden Child basketball shoe, driving demand and brand visibility.
Go Wild Campaign Success
The 'Go Wild' brand campaign showed strong visibility with millions of views globally, enhancing brand recognition and engagement.
Speedcat Franchise Popularity
The Speedcat franchise continued to capitalize on the low-profile trend, with strong demand particularly in Asia.
Positive Regional Performance
EMEA and emerging markets like EEMEA and Latin America showed growth, with EMEA up by 5.1%.
Negative Updates
Challenges in North America and China
Sales in North America and China declined, affecting the overall wholesale business, with North America down by 11%.
Decrease in Gross Profit Margin
The gross profit margin decreased by 60 basis points due to currency headwinds and absence of prior year's positive inventory valuation effects.
Increased Operating Expenses
Operating expenses increased by 7.1%, driven by higher e-commerce costs and depreciation, impacting overall profitability.
Net Income Concerns
Net income significantly decreased to EUR 0.5 million, highlighting profitability challenges despite operational improvements.
Inventory and Debt Levels
Inventory levels increased by 21%, and net debt rose significantly, indicating cash flow and inventory management challenges.
Impact of US Tariffs
Uncertainty around new US tariffs poses a risk, with potential impacts on sourcing costs and profitability.
Company Guidance
During PUMA SE's Q1 2025 earnings call, the company reported that its overall financial results were broadly in line with expectations, with sales and adjusted operating results slightly surpassing projections for the quarter. Sales remained flat compared to the previous year in constant currencies, achieving EUR 2.1 billion. The Direct-to-Consumer (DTC) segment grew by 12%, driven by a 17.3% increase in e-commerce, while the wholesale business declined by 4% due to challenges in the US and China. The gross profit margin decreased by 60 basis points to 47%, primarily due to inventory valuation effects from the prior year. Operating expenses rose by 7.1%, with an increase in the OpEx ratio by 340 basis points to 43% in Q1. Adjusted EBIT decreased by 52% to EUR 76 million, with one-time costs related to the nextlevel cost efficiency program totaling EUR 18 million. The company maintained its outlook for 2025, anticipating low to mid-single-digit sales growth in constant currencies and an adjusted EBIT before one-time costs between EUR 520 million and EUR 600 million. The potential impact of newly announced US tariffs remains under review.PUMA SE NPV Financial Statement Overview
Summary
PUMA SE demonstrates strong revenue growth and efficient operational management, with stable EBIT and EBITDA margins. However, net profit margins have seen fluctuations, and the return on equity is somewhat low, indicating limited growth in shareholder value.Income Statement
PUMA SE has demonstrated strong revenue growth over the years, with a consistent increase from €5.23 billion in 2020 to €8.82 billion in 2024. The gross profit margin has remained robust, indicating efficient cost management, with 2024 showing a margin of 47.4%. However, net profit margins have experienced some fluctuations, with a decrease observed in 2024 to 3.2% from 3.5% in 2023, suggesting potential challenges in converting revenue into profit. EBIT and EBITDA margins have remained stable, reflecting good operational efficiency.80
Positive
Balance Sheet
PUMA SE's balance sheet shows a moderate debt-to-equity ratio of 0.61 in 2024, reflecting a balanced approach to leveraging. The return on equity is somewhat low at 9.96%, indicating limited growth in shareholder value relative to equity. However, the equity ratio remains strong at 39.6%, demonstrating a solid capital structure with a good proportion of assets financed by equity.75
Positive
Cash Flow
Cash flow analysis reveals steady growth in operating cash flow, with a notable increase from €653.6 million in 2023 to €694.8 million in 2024. The free cash flow has also increased, although the free cash flow to net income ratio suggests a need for improvement in turning profits into cash. The operating cash flow to net income ratio is strong, indicating efficient cash generation from operations.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.62B | 8.82B | 8.60B | 8.47B | 6.81B | 5.23B |
| Gross Profit | 4.39B | 4.18B | 3.99B | 3.90B | 3.26B | 2.46B |
| EBITDA | 390.60M | 977.60M | 934.00M | 952.30M | 837.00M | 499.50M |
| Net Income | -94.20M | 281.60M | 304.90M | 353.50M | 309.60M | 78.90M |
Balance Sheet | ||||||
| Total Assets | 7.06B | 7.14B | 6.64B | 6.77B | 5.73B | 4.68B |
| Cash, Cash Equivalents and Short-Term Investments | 292.60M | 537.00M | 552.90M | 463.10M | 757.50M | 655.90M |
| Total Debt | 2.58B | 1.72B | 1.80B | 1.56B | 1.40B | 1.20B |
| Total Liabilities | 4.96B | 4.31B | 4.06B | 4.23B | 3.45B | 2.92B |
| Stockholders Equity | 2.09B | 2.83B | 2.55B | 2.47B | 2.21B | 1.72B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 431.80M | 353.20M | 154.70M | 257.70M | 270.50M |
| Operating Cash Flow | 0.00 | 694.80M | 653.60M | 418.30M | 460.10M | 421.50M |
| Investing Cash Flow | 0.00 | -230.50M | -284.60M | -240.80M | -183.80M | -145.50M |
| Financing Cash Flow | 0.00 | -697.80M | -277.10M | -476.40M | -164.00M | -129.20M |
PUMA SE NPV Technical Analysis
Positive
20.80
Price Trends
19.74
Positive
21.10
Positive
24.65
Negative
Market Momentum
0.38
Negative
54.71
Neutral
57.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:PUM, the sentiment is Positive. The current price of 20.8 is below the 20-day moving average (MA) of 20.86, above the 50-day MA of 19.74, and below the 200-day MA of 24.65, indicating a neutral trend. The MACD of 0.38 indicates Negative momentum. The RSI at 54.71 is Neutral, neither overbought nor oversold. The STOCH value of 57.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:PUM.
PUMA SE NPV Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €6.93B | 25.50 | 10.35% | ― | 7.12% | 78.28% | |
68 Neutral | €2.78B | 12.77 | 16.69% | 3.42% | 1.08% | -1.30% | |
66 Neutral | €33.47B | 27.89 | 23.35% | 1.07% | 10.95% | 400.40% | |
65 Neutral | €3.91B | 5.89 | 117.31% | ― | 8.95% | 22.96% | |
64 Neutral | $3.14B | 18.55 | -4.30% | 2.93% | 1.21% | -136.95% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | €7.47B | ― | -32.53% | ― | 23.23% | 76.05% |
* Consumer Cyclical Sector Average
DE:PUM
PUMA SE NPV
20.80
-14.40
-40.92%
DE:TUI1
TUI AG
7.69
0.93
13.76%
DE:ADS
adidas AG
187.00
-45.85
-19.69%
DE:BOSS
Hugo Boss
40.97
1.42
3.59%
DE:ZAL
Zalando
26.58
-2.49
-8.57%
DE:DHER
Delivery Hero SE
25.04
-14.01
-35.88%
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.