PUMA (PUMSY)
OTHER OTC:PUMSY
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PUMA
(OTC:PUMSY)
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Rating:52Neutral
Price Target:
$3.00
▲(66.67% Upside)
Action:ReiteratedDate:05/04/26
The score is held back primarily by deteriorated 2025 financials (losses, negative cash flow, and higher leverage). Offsetting this are improving technical momentum and an earnings outlook that points to operational progress (margin, costs, inventory) despite guidance still calling for a sales decline and negative full-year EBIT; valuation is mixed due to losses but supported by a moderate dividend yield.
Positive Factors
D2C mix expansion
A structural shift toward D2C increases gross margin potential and customer data ownership, reducing reliance on volatile wholesale. Over 2–6 months this supports more predictable pricing, lower promotional dependency and better margin capture as management prioritizes D2C expansion.
Negative Factors
Profitability collapse & margin pressure
Sharp operating losses and sustained gross-margin compression materially reduce internal funding for product investment and marketing. Unless channel mix and promotional intensity change sustainably, weaker margins will hinder the company’s ability to restore profitable growth over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
D2C mix expansion
A structural shift toward D2C increases gross margin potential and customer data ownership, reducing reliance on volatile wholesale. Over 2–6 months this supports more predictable pricing, lower promotional dependency and better margin capture as management prioritizes D2C expansion.
Read all positive factors
PUMA (PUMSY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.36B
Dividend Yield2.78%
Average Volume (3M)9.65K
Price to Earnings (P/E)29.0
Beta (1Y)1.15
Revenue Growth-13.09%
EPS Growth-439.34%
CountryUS
Employees22,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-0.07
Shares Outstanding1,480,079,200
10 Day Avg. Volume0
30 Day Avg. Volume9,650
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.82
Price to Sales (P/S)0.46
P/FCF Ratio-5.27
Enterprise Value/Market Cap1.44
Enterprise Value/Revenue0.73
Enterprise Value/Gross Profit1.55
Enterprise Value/Ebitda10.58
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.19
Revenue Forecast (FY)$8.11B
PUMA Business Overview & Revenue Model
Company Description
PUMA SE is a global athletic and lifestyle brand that designs and manufactures footwear, apparel, and accessories. Founded in 1948 and headquartered in Herzogenaurach, Germany, PUMA operates in the sports and lifestyle sectors, catering to a diver...
How the Company Makes Money
PUMA primarily makes money by selling branded footwear, apparel, and accessories globally through two main routes: (1) wholesale distribution and (2) direct-to-consumer (DTC). In wholesale, PUMA sells products in bulk to third-party retailers (suc...
PUMA Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Neutral
The call presented balanced progress on PUMA's multi-year reset: notable operational improvements (margin expansion, OpEx reduction, inventory cleanup, D2C growth, product sellouts and sports visibility) but offset by continued top-line pressure, regional weakness (EMEA), elevated net debt and a full-year EBIT outlook that remains negative. Management reaffirmed the 2026 transformation plan and expects improvement later in the year, yet near-term risks from reset phasing, geopolitical uncertainty and U.S. wholesale reductions persist.Positive Updates
Solid Q1 margin and profitability improvement
Gross profit margin improved by 60 basis points to 47.7%; adjusted EBIT increased ~5% to ~EUR 64m and reported EBIT rose almost 20% to ~EUR 52m versus Q1 2025, supported by higher gross margin and OpEx reductions.
Negative Updates
Top-line decline and FX headwinds
Sales declined 1% currency-adjusted in Q1 and reported sales fell 6.3% YoY due to unfavorable FX (notably USD, Turkish lira, Argentine peso); full-year 2026 sales guidance expects a low- to mid-single-digit currency-adjusted decline.
Read all updates
Q1-2026 Updates
Positive
Negative
Solid Q1 margin and profitability improvement
Gross profit margin improved by 60 basis points to 47.7%; adjusted EBIT increased ~5% to ~EUR 64m and reported EBIT rose almost 20% to ~EUR 52m versus Q1 2025, supported by higher gross margin and OpEx reductions.
Read all positive updates
Company Guidance
PUMA reiterated full‑year 2026 guidance, expecting a currency‑adjusted sales decline in the low‑ to mid‑single‑digit range, with Q2 sales “clearly below” Q1 and the second half of 2026 to be stronger than the first; channel mix is expected to show lower wholesale and continued DTC growth (DTC share rose to 28.3% in Q1). Management expects a substantial improvement in gross profit margin (Q1 was up 60 bps to 47.7%), OpEx not to be materially lower in absolute terms (Q1 OpEx excl. one‑offs fell 5.5% to €848m), and full‑year EBIT to be in a loss range of minus €50m to minus €150m (one‑offs materially below 2025); CapEx is guided at ~€200m (focused on digital/DTC) and free cash flow is expected to turn positive for 2026 (Q1 free cash flow was −€201m seasonally). Inventory normalization is targeted by year‑end 2026 to below ~25% of sales (Q1 inventories were ~€1.9bn, down ~9%), net debt reduction is a priority (net debt was €1.3bn at Q1, cash €326m, undrawn lines ~€800m, total headroom ~€1.1bn), and the outlook excludes potential impacts from the Middle East conflict and U.S. tariff developments.PUMA Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
35
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.62B | 7.01B | 8.82B | 8.60B | 8.47B | 6.81B |
| Gross Profit | 4.06B | 2.77B | 4.18B | 3.99B | 3.90B | 3.26B |
| EBITDA | 592.65M | 9.70M | 977.60M | 936.60M | 1.03B | 855.50M |
| Net Income | -94.20M | -618.49M | 281.60M | 304.90M | 353.50M | 309.60M |
Balance Sheet | ||||||
| Total Assets | 7.06B | 6.45B | 7.14B | 6.64B | 6.77B | 5.73B |
| Cash, Cash Equivalents and Short-Term Investments | 292.60M | 289.88M | 537.00M | 598.50M | 484.70M | 787.70M |
| Total Debt | 2.58B | 3.59B | 1.72B | 1.80B | 1.56B | 1.40B |
| Total Liabilities | 4.96B | 4.69B | 4.31B | 4.06B | 4.23B | 3.45B |
| Stockholders Equity | 2.09B | 1.76B | 2.83B | 2.55B | 2.47B | 2.21B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -607.34M | 431.80M | 353.20M | 154.70M | 257.70M |
| Operating Cash Flow | 0.00 | -409.19M | 694.80M | 653.60M | 418.30M | 460.10M |
| Investing Cash Flow | 0.00 | -215.16M | -230.50M | -284.60M | -240.80M | -183.80M |
| Financing Cash Flow | 0.00 | 496.21M | -697.80M | -277.10M | -476.40M | -164.00M |
PUMA Technical Analysis
Positive
1.80
Price Trends
2.65
Positive
2.58
Positive
2.46
Positive
Market Momentum
0.11
Negative
69.58
Neutral
99.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PUMSY, the sentiment is Positive. The current price of 1.8 is below the 20-day moving average (MA) of 2.65, below the 50-day MA of 2.65, and below the 200-day MA of 2.46, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 69.58 is Neutral, neither overbought nor oversold. The STOCH value of 99.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PUMSY.
PUMA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $2.96B | 8.40 | 5.21% | 1.97% | 15.48% | -54.34% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $5.15B | 7.59 | -5.37% | ― | -1.85% | -108.05% | |
61 Neutral | $1.37B | 11.34 | 26.62% | 2.28% | 6.80% | 99.47% | |
52 Neutral | $4.36B | 28.96 | -30.05% | 2.78% | -13.09% | -439.34% | |
50 Neutral | $65.37B | 44.21 | 16.41% | 2.81% | -2.83% | -49.54% |
* Consumer Cyclical Sector Average
PUMSY
PUMA
2.96
0.34
12.91%
CROX
Crocs
103.63
-15.22
-12.81%
NKE
Nike
44.14
-16.91
-27.70%
SHOO
Steven Madden
40.61
14.88
57.82%
WWW
Wolverine World Wide
16.70
0.38
2.30%
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.