Adidas AG
F:ADS

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Adidas AG Logo
Adidas AG
F:ADS
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Price: 168.45 EUR 2.4% Market Closed
Market Cap: 30.1B EUR

Income Statement

Earnings Waterfall
Adidas AG

Revenue
24.7B EUR
Cost of Revenue
-12B EUR
Gross Profit
12.7B EUR
Operating Expenses
-10.7B EUR
Operating Income
1.9B EUR
Other Expenses
-730m EUR
Net Income
1.2B EUR

Income Statement
Adidas AG

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Income Statement
Currency: EUR
Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
0
0
0
0
82
0
0
0
68
0
0
0
71
0
0
0
74
0
0
0
184
0
0
0
166
0
0
0
178
0
0
0
138
0
0
0
112
0
0
0
108
0
0
0
97
0
0
0
73
0
0
0
59
0
0
0
65
0
0
0
70
0
0
0
62
0
0
0
42
0
0
0
101
0
0
0
82
0
0
0
66
0
0
0
83
0
0
0
86
0
0
0
99
0
0
0
Revenue
6 112
N/A
6 192
+1%
6 331
+2%
6 409
+1%
6 523
+2%
6 554
+0%
6 439
-2%
6 424
0%
6 267
-2%
6 221
-1%
6 230
+0%
6 135
-2%
5 860
-4%
5 911
+1%
6 026
+2%
6 192
+3%
6 636
+7%
7 421
+12%
8 333
+12%
9 358
+12%
10 084
+8%
10 163
+1%
10 135
0%
10 127
0%
10 299
+2%
10 382
+1%
10 503
+1%
10 645
+1%
10 799
+1%
10 755
0%
10 691
-1%
10 496
-2%
10 381
-1%
10 478
+1%
10 938
+4%
11 518
+5%
11 990
+4%
12 589
+5%
12 736
+1%
13 012
+2%
13 322
+2%
13 873
+4%
14 326
+3%
14 755
+3%
14 883
+1%
14 810
0%
14 676
-1%
14 382
-2%
14 203
-1%
13 932
-2%
13 949
+0%
14 114
+1%
14 534
+3%
15 137
+4%
15 644
+3%
16 358
+5%
16 915
+3%
17 394
+3%
17 686
+2%
18 150
+3%
18 483
+2%
19 368
+5%
20 207
+4%
20 662
+2%
21 218
+3%
21 319
+0%
21 542
+1%
21 738
+1%
21 915
+1%
22 250
+2%
22 498
+1%
23 035
+2%
23 640
+3%
22 138
-6%
19 981
-10%
19 132
-4%
18 435
-4%
19 322
+5%
21 047
+9%
21 238
+1%
21 234
0%
21 269
+0%
21 788
+2%
22 444
+3%
22 511
+0%
22 483
0%
22 230
-1%
21 821
-2%
21 427
-2%
21 611
+1%
22 090
+2%
22 529
+2%
23 683
+5%
24 378
+3%
24 508
+1%
24 700
+1%
Gross Profit
Cost of Revenue
(3 511)
(3 556)
(3 638)
(3 651)
(3 704)
(3 710)
(3 647)
(3 615)
(3 453)
(3 371)
(3 316)
(3 206)
(3 047)
(3 038)
(3 097)
(3 179)
(3 439)
(3 922)
(4 493)
(5 125)
(5 589)
(5 587)
(5 505)
(5 395)
(5 417)
(5 400)
(5 396)
(5 456)
(5 543)
(5 623)
(5 717)
(5 726)
(5 669)
(5 629)
(5 767)
(6 013)
(6 260)
(6 572)
(6 640)
(6 795)
(6 993)
(7 305)
(7 567)
(7 780)
(7 780)
(7 652)
(7 521)
(7 292)
(7 202)
(7 101)
(7 139)
(7 299)
(7 610)
(7 916)
(8 207)
(8 535)
(8 748)
(8 946)
(9 054)
(9 312)
(9 383)
(9 856)
(10 242)
(10 344)
(10 514)
(10 482)
(10 479)
(10 494)
(10 552)
(10 571)
(10 626)
(10 868)
(11 347)
(10 818)
(9 886)
(9 578)
(9 213)
(9 548)
(10 362)
(10 467)
(10 469)
(10 586)
(10 921)
(11 315)
(11 867)
(12 124)
(11 967)
(11 749)
(11 244)
(10 995)
(11 234)
(11 327)
(11 658)
(11 944)
(11 956)
(12 014)
Gross Profit
2 601
N/A
2 636
+1%
2 693
+2%
2 758
+2%
2 819
+2%
2 844
+1%
2 792
-2%
2 809
+1%
2 814
+0%
2 850
+1%
2 914
+2%
2 929
+1%
2 813
-4%
2 873
+2%
2 929
+2%
3 013
+3%
3 197
+6%
3 499
+9%
3 840
+10%
4 233
+10%
4 495
+6%
4 576
+2%
4 630
+1%
4 732
+2%
4 882
+3%
4 982
+2%
5 107
+3%
5 189
+2%
5 256
+1%
5 132
-2%
4 974
-3%
4 770
-4%
4 712
-1%
4 849
+3%
5 171
+7%
5 505
+6%
5 730
+4%
6 017
+5%
6 096
+1%
6 217
+2%
6 329
+2%
6 568
+4%
6 759
+3%
6 975
+3%
7 103
+2%
7 158
+1%
7 155
0%
7 090
-1%
7 001
-1%
6 831
-2%
6 810
0%
6 815
+0%
6 924
+2%
7 221
+4%
7 437
+3%
7 823
+5%
8 167
+4%
8 448
+3%
8 632
+2%
8 838
+2%
9 100
+3%
9 512
+5%
9 965
+5%
10 318
+4%
10 704
+4%
10 837
+1%
11 063
+2%
11 244
+2%
11 363
+1%
11 679
+3%
11 872
+2%
12 167
+2%
12 293
+1%
11 320
-8%
10 095
-11%
9 554
-5%
9 222
-3%
9 774
+6%
10 685
+9%
10 771
+1%
10 765
0%
10 683
-1%
10 867
+2%
11 129
+2%
10 644
-4%
10 359
-3%
10 263
-1%
10 072
-2%
10 183
+1%
10 616
+4%
10 856
+2%
11 202
+3%
12 025
+7%
12 434
+3%
12 552
+1%
12 686
+1%
Operating Income
Operating Expenses
(2 084)
(2 144)
(2 201)
(2 243)
(2 297)
(2 303)
(2 262)
(2 252)
(2 281)
(2 293)
(2 296)
(2 303)
(2 193)
(2 227)
(2 253)
(2 301)
(2 489)
(2 748)
(3 070)
(3 370)
(3 614)
(3 714)
(3 752)
(3 792)
(3 954)
(3 982)
(4 086)
(4 166)
(4 217)
(4 286)
(4 265)
(4 198)
(4 207)
(4 137)
(4 337)
(4 596)
(4 859)
(5 070)
(5 124)
(5 215)
(5 377)
(5 519)
(5 673)
(5 836)
(5 921)
(6 205)
(6 206)
(6 172)
(5 771)
(5 785)
(5 799)
(5 868)
(5 966)
(6 204)
(6 403)
(6 683)
(7 076)
(7 212)
(7 201)
(7 321)
(7 562)
(7 814)
(8 190)
(8 339)
(8 638)
(8 658)
(8 798)
(8 873)
(8 900)
(9 182)
(9 324)
(9 623)
(9 504)
(9 488)
(9 169)
(8 790)
(8 363)
(8 372)
(8 477)
(8 626)
(8 708)
(8 965)
(9 300)
(9 670)
(9 796)
(10 067)
(10 187)
(10 151)
(9 922)
(10 072)
(10 142)
(10 299)
(10 718)
(10 823)
(10 741)
(10 737)
Selling, General & Administrative
(2 036)
(2 094)
(2 152)
(2 194)
(2 245)
(2 249)
(2 206)
(2 194)
(2 228)
(2 239)
(2 244)
(2 253)
(2 082)
(2 150)
(2 182)
(2 239)
(2 362)
(2 673)
(2 989)
(3 280)
(3 413)
(3 609)
(3 640)
(3 680)
(3 827)
(3 816)
0
0
(4 069)
0
0
0
(4 096)
0
0
0
(4 786)
0
0
0
(5 199)
0
0
0
(5 755)
0
0
0
(5 604)
(1 408)
(2 853)
(4 343)
(5 751)
(4 558)
(4 752)
(5 008)
(6 792)
(7 051)
(7 165)
0
(7 364)
(3 767)
(3 990)
(6 018)
(8 242)
(7 123)
(5 854)
0
(8 431)
(1 410)
(1 447)
(2 200)
(9 557)
(2 987)
(2 768)
(2 553)
(8 349)
(2 265)
(2 356)
(2 492)
(8 686)
(2 647)
(2 694)
(2 711)
(9 925)
(2 723)
(2 677)
(2 630)
(9 782)
(6 291)
(8 311)
(10 505)
(10 731)
(11 083)
(10 995)
(10 898)
Research & Development
0
0
0
0
0
0
0
0
0
0
0
0
(59)
0
0
0
(63)
0
0
0
(98)
0
0
0
(84)
0
0
0
(81)
0
0
0
0
0
0
0
0
0
0
0
(115)
0
0
0
(128)
0
0
0
(124)
0
0
0
(126)
0
0
0
(139)
0
0
0
(149)
0
0
0
(187)
0
0
0
(153)
0
0
0
(152)
0
0
0
(115)
0
0
0
(130)
0
0
0
(153)
0
0
0
(151)
0
0
0
(170)
0
0
0
Depreciation & Amortization
(90)
(94)
(96)
(99)
(97)
(99)
(99)
(100)
(96)
(94)
(93)
(91)
(95)
(96)
(99)
(101)
(112)
(127)
(145)
(165)
(193)
(203)
(209)
(211)
(204)
(288)
0
0
(228)
0
0
0
(294)
0
0
0
(260)
0
0
0
(249)
0
0
0
(263)
0
0
0
(282)
(70)
(142)
(217)
(323)
(224)
(233)
(257)
(354)
(362)
(361)
0
(369)
(188)
(204)
(305)
(451)
0
0
0
(483)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Other Operating Expenses
42
43
46
49
46
46
44
43
42
40
41
41
42
19
28
39
47
52
64
75
90
98
97
99
161
122
(4 086)
(4 166)
161
(4 286)
(4 265)
(4 198)
183
(4 137)
(4 337)
(4 596)
187
(5 070)
(5 124)
(5 215)
186
(5 519)
(5 673)
(5 836)
225
(6 205)
(6 206)
(6 172)
239
(4 307)
(2 804)
(1 308)
234
(1 422)
(1 418)
(1 418)
209
201
325
(7 321)
320
(3 859)
(3 996)
(2 016)
242
(1 535)
(2 944)
(8 873)
167
(7 772)
(7 877)
(7 423)
205
(6 501)
(6 401)
(6 237)
101
(6 107)
(6 121)
(6 134)
108
(6 318)
(6 606)
(6 959)
282
(7 344)
(7 510)
(7 521)
11
(3 781)
(1 831)
206
183
260
254
161
Operating Income
517
N/A
492
-5%
492
N/A
515
+5%
522
+1%
542
+4%
531
-2%
558
+5%
532
-5%
557
+5%
618
+11%
626
+1%
620
-1%
646
+4%
676
+5%
712
+5%
707
-1%
751
+6%
770
+3%
863
+12%
881
+2%
862
-2%
878
+2%
940
+7%
928
-1%
1 000
+8%
1 021
+2%
1 023
+0%
1 039
+2%
846
-19%
709
-16%
572
-19%
505
-12%
712
+41%
834
+17%
909
+9%
871
-4%
947
+9%
972
+3%
1 002
+3%
952
-5%
1 049
+10%
1 086
+4%
1 139
+5%
1 182
+4%
953
-19%
949
0%
918
-3%
1 230
+34%
1 046
-15%
1 011
-3%
947
-6%
958
+1%
1 017
+6%
1 034
+2%
1 140
+10%
1 091
-4%
1 236
+13%
1 431
+16%
1 517
+6%
1 538
+1%
1 698
+10%
1 775
+5%
1 979
+11%
2 066
+4%
2 179
+5%
2 265
+4%
2 371
+5%
2 463
+4%
2 497
+1%
2 548
+2%
2 544
0%
2 789
+10%
1 832
-34%
926
-49%
764
-17%
859
+12%
1 402
+63%
2 208
+57%
2 145
-3%
2 057
-4%
1 718
-16%
1 567
-9%
1 459
-7%
848
-42%
292
-66%
76
-74%
(79)
N/A
261
N/A
544
+108%
714
+31%
903
+26%
1 307
+45%
1 611
+23%
1 811
+12%
1 949
+8%
Pre-Tax Income
Interest Income Expense
(102)
(88)
(89)
(82)
(72)
(86)
(69)
(63)
(58)
(43)
(52)
(50)
(61)
(58)
(50)
(41)
(33)
(69)
(101)
(144)
(145)
(168)
(160)
(141)
(132)
(127)
(131)
(143)
(166)
(182)
(187)
(175)
(147)
(119)
(93)
(94)
(87)
(99)
(103)
(95)
(85)
(76)
(75)
(67)
(69)
(64)
(59)
(65)
(66)
(66)
(65)
(51)
(46)
(34)
(28)
(31)
(21)
(14)
(10)
(18)
(43)
(45)
(60)
(70)
(17)
(52)
(36)
(2)
8
(20)
(41)
(79)
(115)
(110)
(114)
(119)
(166)
(166)
(170)
(176)
(135)
(124)
(182)
(293)
(268)
(284)
(245)
(175)
(239)
(265)
(255)
(167)
(232)
(149)
(165)
(255)
Non-Reccuring Items
(39)
(40)
(42)
(44)
(45)
(45)
(45)
(44)
(45)
(45)
(43)
(41)
(36)
0
0
0
0
0
0
0
0
0
0
0
21
0
0
0
31
0
0
0
3
0
0
0
23
0
0
0
1
0
0
0
(262)
0
0
0
(52)
0
0
0
(77)
(96)
(96)
(96)
(33)
0
0
0
40
0
0
0
(27)
0
0
0
(95)
0
0
0
(129)
0
0
0
(113)
0
0
0
(71)
0
0
0
(179)
0
0
0
7
0
0
0
30
0
0
0
Total Other Income
0
0
0
0
(15)
0
0
0
9
0
0
0
2
0
0
0
(20)
0
0
0
(13)
0
0
0
(2)
1
0
0
0
0
0
0
(3)
0
0
0
(1)
0
0
0
1
0
0
0
0
0
0
0
1
0
1
0
0
0
0
0
2
0
1
0
1
0
0
0
1
0
0
0
2
0
0
0
13
0
1
0
(2)
0
0
0
1
0
(1)
0
(13)
0
1
1
36
0
0
(1)
16
0
0
0
Pre-Tax Income
376
N/A
364
-3%
361
-1%
389
+8%
390
+0%
410
+5%
416
+1%
450
+8%
438
-3%
469
+7%
523
+12%
535
+2%
526
-2%
589
+12%
627
+6%
672
+7%
655
-3%
682
+4%
669
-2%
719
+7%
723
+1%
695
-4%
719
+3%
800
+11%
815
+2%
874
+7%
890
+2%
880
-1%
904
+3%
663
-27%
522
-21%
397
-24%
358
-10%
593
+66%
741
+25%
815
+10%
806
-1%
848
+5%
869
+2%
907
+4%
869
-4%
973
+12%
1 011
+4%
1 072
+6%
851
-21%
889
+4%
890
+0%
853
-4%
1 113
+30%
980
-12%
947
-3%
897
-5%
835
-7%
887
+6%
909
+2%
1 012
+11%
1 039
+3%
1 222
+18%
1 422
+16%
1 500
+5%
1 536
+2%
1 654
+8%
1 716
+4%
1 910
+11%
2 023
+6%
2 127
+5%
2 228
+5%
2 368
+6%
2 378
+0%
2 477
+4%
2 507
+1%
2 465
-2%
2 558
+4%
1 723
-33%
813
-53%
646
-21%
578
-11%
1 235
+114%
2 037
+65%
1 968
-3%
1 852
-6%
1 594
-14%
1 384
-13%
1 166
-16%
388
-67%
9
-98%
(168)
N/A
(253)
-51%
65
N/A
279
+329%
460
+65%
735
+60%
1 121
+53%
1 461
+30%
1 645
+13%
1 694
+3%
Net Income
Tax Provision
(147)
(141)
(136)
(148)
(148)
(155)
(159)
(174)
(167)
(180)
(194)
(201)
(193)
(204)
(219)
(218)
(221)
(227)
(224)
(233)
(227)
(219)
(223)
(253)
(260)
(279)
(282)
(269)
(260)
(185)
(153)
(118)
(113)
(182)
(212)
(233)
(238)
(240)
(247)
(247)
(261)
(284)
(298)
(320)
(327)
(346)
(340)
(328)
(340)
(307)
(301)
(289)
(271)
(294)
(314)
(360)
(353)
(402)
(447)
(455)
(454)
(479)
(494)
(547)
(668)
(693)
(723)
(755)
(669)
(678)
(666)
(635)
(640)
(410)
(203)
(146)
(117)
(296)
(469)
(456)
(360)
(295)
(112)
(307)
(134)
(88)
(175)
115
(124)
(142)
(208)
(286)
(297)
(373)
(394)
(430)
Income from Continuing Operations
229
223
225
241
242
255
257
276
271
290
330
335
333
385
408
454
434
455
445
486
496
476
496
547
555
595
608
611
644
478
369
279
245
411
529
582
568
608
622
660
608
689
713
752
524
543
550
525
773
673
646
608
564
593
595
652
686
820
975
1 045
1 082
1 175
1 222
1 363
1 355
1 434
1 505
1 613
1 709
1 799
1 841
1 830
1 918
1 313
610
500
461
939
1 568
1 512
1 492
1 299
1 272
859
254
(79)
(343)
(138)
(59)
137
252
449
824
1 088
1 251
1 264
Income to Minority Interest
(21)
(18)
(16)
(15)
(14)
(17)
(15)
(15)
(11)
(10)
(12)
(11)
(7)
(5)
(5)
(2)
(8)
(10)
(12)
(14)
(13)
(10)
(7)
(4)
(4)
(3)
(3)
(2)
(2)
(1)
0
1
0
(1)
(2)
(2)
(1)
0
0
(1)
5
4
5
7
2
2
2
(1)
(3)
(4)
(6)
(6)
(6)
(6)
(6)
(7)
(6)
(5)
(5)
(3)
(2)
(3)
(2)
(2)
(3)
(3)
(4)
(4)
(3)
(3)
(2)
(2)
(2)
4
26
(4)
(11)
(12)
(45)
(38)
(42)
(54)
(58)
(39)
(26)
(28)
(24)
(40)
(61)
(52)
(57)
(69)
(68)
(70)
(65)
(55)
Net Income (Common)
208
N/A
206
-1%
210
+2%
227
+8%
229
+1%
237
+3%
241
+2%
260
+8%
260
+0%
281
+8%
294
+5%
322
+10%
314
-3%
347
+11%
368
+6%
406
+10%
383
-6%
422
+10%
437
+4%
465
+6%
483
+4%
465
-4%
488
+5%
542
+11%
551
+2%
592
+7%
605
+2%
609
+1%
642
+5%
477
-26%
369
-23%
280
-24%
245
-13%
410
+67%
527
+29%
580
+10%
567
-2%
608
+7%
622
+2%
659
+6%
613
-7%
693
+13%
718
+4%
759
+6%
526
-31%
545
+4%
552
+1%
524
-5%
787
+50%
683
-13%
655
-4%
621
-5%
490
-21%
507
+3%
509
+0%
538
+6%
634
+18%
763
+20%
908
+19%
983
+8%
1 017
+3%
1 123
+10%
990
-12%
1 130
+14%
1 097
-3%
1 181
+8%
1 419
+20%
1 551
+9%
1 702
+10%
1 794
+5%
1 929
+8%
1 917
-1%
1 976
+3%
1 375
-30%
549
-60%
448
-18%
432
-4%
959
+122%
1 651
+72%
2 066
+25%
2 116
+2%
2 040
-4%
1 937
-5%
1 324
-32%
612
-54%
90
-85%
(120)
N/A
(208)
-73%
(75)
+64%
134
N/A
240
+79%
424
+77%
764
+80%
1 022
+34%
1 201
+18%
1 219
+1%
EPS (Diluted)
1.15
N/A
1.14
-1%
1.15
+1%
1.24
+8%
1.26
+2%
1.3
+3%
1.33
+2%
1.44
+8%
1.43
-1%
1.56
+9%
1.6
+3%
1.75
+9%
1.57
-10%
1.73
+10%
1.89
+9%
1.95
+3%
1.87
-4%
1.92
+3%
1.97
+3%
2.11
+7%
2.2
+4%
2.11
-4%
2.29
+9%
2.48
+8%
2.51
+1%
2.72
+8%
2.77
+2%
2.87
+4%
3.01
+5%
2.27
-25%
1.75
-23%
1.34
-23%
1.17
-13%
1.96
+68%
2.49
+27%
2.77
+11%
2.71
-2%
2.9
+7%
2.97
+2%
3.15
+6%
2.93
-7%
3.31
+13%
3.43
+4%
3.62
+6%
2.51
-31%
2.6
+4%
2.63
+1%
2.5
-5%
3.76
+50%
3.26
-13%
3.13
-4%
2.96
-5%
2.34
-21%
2.48
+6%
2.52
+2%
2.68
+6%
3.13
+17%
3.71
+19%
4.43
+19%
4.78
+8%
4.93
+3%
5.5
+12%
4.78
-13%
5.53
+16%
5.37
-3%
5.78
+8%
6.97
+21%
7.71
+11%
8.42
+9%
9.02
+7%
8.46
-6%
9.72
+15%
9.97
+3%
7.03
-29%
2.8
-60%
2.29
-18%
2.21
-3%
4.91
+122%
8.44
+72%
10.62
+26%
10.9
+3%
10.81
-1%
10.53
-3%
7.29
-31%
3.34
-54%
0.5
-85%
-0.67
N/A
-1.16
-73%
-0.42
+64%
0.75
N/A
1.33
+77%
2.37
+78%
4.27
+80%
5.71
+34%
6.62
+16%
6.82
+3%