Amer Sports manages a diverse portfolio of 10 outdoor and action sports brands that collectively generated revenue of $6.6 billion in 2025. Although primarily owned by the Chinese conglomerate Anta Sports, Amer operates with a degree of autonomy.
It is a $16.4B consumer company. Revenue grew 26.7% over the last year, it keeps 7¢ of every dollar of sales as profit, and its net debt equals ~0.5 years of free cash flow. It trades at 30.0× earnings.
- Website
- amersports.com
- Employees
- 15 400
- Sector
- Consumer Cyclical
- Founded
- 1950
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong health and quality; Profitability and Moat lag behind.
Valuation69
- P/E vs own history5th pct · 25/25
- FCF yield4.2% · 12/25
- P/S2.2x · 20/25
- EV/EBITDA16.2x · 12/25
Growth50
- Revenue CAGR21.0% · 25/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth38.2% · 25/25
Profitability42
- ROIC5.9% · 5/25
- ROE8.7% · 12/25
- Net margin6.5% · 13/25
- Operating margin11.5% · 12/25
Health81
- Altman Z3.96 · 25/25
- Current ratio1.76 · 18/25
- Interest coverage10.0x · 18/25
- Net cash / debtD/A 4% · 20/25
Quality100
- Piotroski F8/9 · 25/25
- Beneish M-2.56 · 25/25
- FCF conversion163% · 25/25
- Margin stabilityσ 1.7% · 25/25
Moat38
- ROIC >12% years0/5 yrs · 0/25
- Median gross margin52.5% · 20/25
- FCF-positive years4/5 yrs · 18/25
- Worst-year net marginworst -7.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$427M net income
- FY2024FinancialTurned profitable$72.6M net income after a loss year
- FY2021FinancialRevenue already above $1B$3.07B in first reported year
- 2018AcquisitionAmer Sports acquired the Swedish sportswear manufacturer Peak Performance from IC Group, a Danish entity
- 2005AcquisitionAmer acquired the outdoor sports company Salomon from Adidas for €485 million
- 1989AcquisitionAmer acquired the Chicago-based company Wilson Sporting Goods Company
- 1985AcquisitionAmer acquired Marimekko
- 1974AcquisitionThey bought the Finnish ice hockey gear maker Koho-Tuote in 1974, its North East US distributor Koho Sporting Goods…
- 1970IPOA publishing and printing division was added in 1970 with the purchase of the Finnish company Weilin+Göös
- 1950FoundedEstablished in 1950 as an industrial conglomerate with interests as diverse as tobacco trading, ship owning and…
- 1950AcquisitionThe company began life as a tobacco manufacturer and distributor, Amer-Tupakka, in 1950 (later to be renamed…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (59.8%)
- Revenue growing 26.7% year over year
- Could repay net debt from ~0.5 years of free cash flow
- Interest covered 10.0× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+26.7% YoY
- Profitable — makes more than it spends$427M FY2025
- Profit growing — earnings are higher than last year+488.7% YoY
- Generates cash — cash left after running and investing$695M FY2025
- Debt under control — could handle its obligations~0.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$16.4B market cap
- Not printing shares — share count not ballooning — you keep your slice+51.5% shares over ~5y
- Proven track record — years of profitability behind it2/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 4.0 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 30.0
Peer comparisonAmer Sports, Inc. vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AS this company | $16.4B | 30.0 | +26.7% | 6.5% | Strong |
| AMZN Amazon.Com Inc | $2.8T | 20.9 | +15.8% | 17.4% | Mixed |
| TSLA Tesla, Inc. | $1.5T | 397.1 | +11.8% | 3.7% | Strong |
| NFLX NetFlix Inc | $292.8B | 21.4 | +16.0% | 28.2% | Solid |
| HD Home Depot, Inc. | $290.4B | 20.4 | -16.0% | 8.7% | Solid |
| DIS The Walt Disney Company | $186.5B | 21.7 | +4.6% | 8.7% | Solid |
| MCD McDonald's Corporation | $166.9B | 18.9 | +6.3% | 31.7% | Strained |
Head-to-head: AS vs AMZN · AS vs TSLA · AS vs NFLX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AS
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Deeper analysis of AS on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $28.14 · market cap $16.4B.