Adidas (ADS.DE): analysis in plain words
Is Adidas cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Adidas (ADS.DE) is listed on the Frankfurt Stock Exchange (Xetra) and we classify it in luxury and apparel. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Adidas according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Adidas (ADS.DE) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €176.35 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 19.0x | Price over earnings per share |
| Revenue growth | +9.4% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 6.1% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.8x | Years of operating profit to repay debt |
| Dividend yield | 1.62% | Annual dividend over price |
| Market cap | €29.8 billion | What the stock market values it at |
The Adidas figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ADS.DE figure that is not available shows as N/A: we do not estimate it.
How Adidas makes money
Adidas designs and sells footwear, its biggest category, along with sports apparel and accessories under the adidas brand, with lines like Originals, Samba and Ultraboost. It reports by region: Europe, North America, Greater China, Latin America, Japan/South Korea and Emerging Markets, selling through retailers and its own stores and website.
Over the last 12 months, Adidas brought in revenue of €26.7 billion. For every 100 it sells, Adidas keeps 52.3 after the direct cost of what it sells (gross margin) and 13.9 after all operating costs (operating margin). With 48,487 full-time employees, that is about €550,000 of revenue per employee.
Adidas against its sector
To know whether a Adidas figure is high or low you have to put it next to similar companies. This table compares Adidas with the median of the 6 luxury and apparel companies Fintols covers, with data as of November 4, 2026.
| Figure | Adidas | luxury and apparel median |
|---|---|---|
| P/E | 19.0x | 23.7x (6) |
| Revenue growth | +9.4% | +1.6% (7) |
| Net margin | 6.1% | 8.5% (7) |
| Dividend yield | 1.62% | 1.66% (7) |
| Net debt / EBITDA | 1.8x | 1.2x (7) |
In short, against the typical luxury and apparel company, Adidas trades on a lower P/E, grows faster and earns a thinner margin. By size, Adidas ranks number 5 of 6 luxury and apparel companies quoted in EUR on Fintols.
The bull case for Adidas
These are the strengths in the Adidas figures as of November 4, 2026:
- Adidas earns 26.3% a year on its shareholders' money (return on equity).
- Analysts expect Adidas earnings to rise: its P/E on the next 12 months of estimated earnings is 15.0x, below the current 19.0x.
- Adidas is selling more than a year ago: +9.4% in its latest quarter (the typical luxury and apparel company grew +1.6%).
The main risk for Adidas
The Adidas figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: spending by wealthier customers, especially in China and the US, cooling down.
Frequently asked questions about Adidas
Is it a good time to buy Adidas stock?
Fintols does not tell you whether to buy or sell Adidas, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Adidas stock trades at €176.35, 7% below its 52-week high (€188.80) and 36% above its low (€129.95). Its P/E is 19.0x against a luxury and apparel median of 23.7x, and 15.0x on the earnings analysts expect over the next 12 months. With Adidas, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Adidas pay a dividend?
Yes. As of November 4, 2026, Adidas pays €2.80 per share a year, which at today's price is a yield of 1.62%. It uses 30% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 0.64%. The luxury and apparel median on Fintols is 1.66%.
Is Adidas stock expensive?
It depends on what you compare it with. On P/E, Adidas trades at 19.0x its last 12 months of earnings: cheaper than the luxury and apparel median (23.7x). Including its debt, Adidas is valued at 14.3x its EBITDA (EV/EBITDA). A high P/E alone does not make Adidas expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Adidas's competitors?
On Fintols we compare Adidas with Inditex, LVMH and Hermès, which are also in luxury and apparel. As of November 4, 2026, Inditex is worth €184.0 billion and trades on a P/E of 28.0; LVMH is worth €205.2 billion and trades on a P/E of 19.0; Hermès is worth €143.7 billion and trades on a P/E of 31.9. Each has a side-by-side comparison with Adidas below.
Adidas competitors
- Inditex (ITX) analysis · Adidas vs Inditex comparison
- LVMH (MC.PA) analysis · Adidas vs LVMH comparison
- Hermès (RMS.PA) analysis · Adidas vs Hermès comparison
To understand Adidas better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Adidas: luxury and apparel stocks and Euro Stoxx 50 companies. Open the full ADS.DE analysis with its valuation and scenarios. Educational content about Adidas, not investment advice.