ASNYSEApparel & Other Finishd Prods of Fabrics & Similar MatlFiscal year ends December 31
Amer Sports, Inc.
Financials through Q4 FY2025, quarter ended Dec 31, 2025Last filing: 20-F on Feb 26, 2026
$30.28+0.26 (+0.87%)
Close on Oct 19, 2026
- Market cap
- $17.09B
- P/E (TTM)
- 39.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2021 to 2025
Gross margin
57.6%
Operating margin
10.7%
Net margin
6.5%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +26.7% | +22.5% | – | – | |
| Gross profit | +31.8% | +28.4% | – | – | |
| Operating income | +49.1% | +140.3% | – | – | |
| Net income | +488.7% | – | – | – | |
| EPS, diluted | +442.9% | – | – | – | |
| Free cash flow | +162.4% | – | – | – |
Returns and balance sheet
5 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2021 | FY2021 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 7.9% | |
| Return on assets | – | – | 4.6% | |
| Current ratio | – | – | 1.50 | |
| Debt to equity | – | – | 0.16 | |
| Net debt to EBITDA | – | – | 0.26× | |
| Interest coverage | 0.7× | 0.7× | 7.2× | |
| Inventory turnover | – | – | 2.0× | |
| Capex to revenue | 2.0% | 2.0% | 3.3% | |
| Diluted shares | 383M | 383M | 563M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Amer Sports generated $1.71B from operations and spent $707.60M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.71B
Used
$707.60M
Capital expenditure$707.60M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.5%
×Asset turnover0.71×
×Equity multiplier1.71×
=Return on equity, FY20257.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.5% | 0.71× | 1.71× | 7.9% |
| FY2024 | 1.4% | 0.62× | 3.47× | 3.0% |
| FY2023 | -4.7% | 0.54× | -69.50× | 178.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$427.40M
- Cash generatingOperating cash flow above zero$729.80M
- Return on assets improvedROA up on the prior year0.9% → 5.1%
- Earnings backed by cashOperating cash flow above net income$729.80M vs $427.40M
- Less leverageLong-term debt to assets fell9.4% → 7.9%
- Better liquidityCurrent ratio rose1.52 → 1.50
- No dilutionShare count did not rise502M → 563M
- Gross margin improvedGross margin up on the prior year55.40% → 57.63%
- More efficientAsset turnover rose0.62 → 0.78