adidas AG (ADS) — Free Cash Flow Generation Index

Latest as of December 2025: 0.82x

adidas AG (ADS) has a Free Cash Flow Generation Index of 0.82x as of December 2025. Free cash flow of €839.00 Million represents 1% of operating cash flow (€1.03 Billion). Explore ADS capex to operating cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.

FCF Generation Index

0.82x
Free Cash Flow / Operating CF

Free Cash Flow

€839.00 Million
EUR

Operating Cash Flow

€1.03 Billion
EUR

Capital Expenditures

€187.00 Million
EUR

adidas AG Free Cash Flow Generation Index (2013–2025)

Historical FCF Generation Index trend for adidas AG across 12 annual periods. For the full cash flow conversion analysis, see cash efficiency ratio of adidas AG.

Annual Free Cash Flow Generation for adidas AG (2013–2025)

Year-by-year Free Cash Flow Generation Index for adidas AG. Check ADS capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.

Year FCG Index Free Cash Flow (EUR) Operating CF Capital Expenditures YoY Change
2025 0.36x €274.00 Million €751.00 Million €477.00 Million ▼ -55.2%
2024 0.81x €2.37 Billion €2.91 Billion €540.00 Million ▲ +1.5%
2023 0.80x €2.05 Billion €2.55 Billion €504.00 Million ▲ +1.4%
2021 0.79x €2.52 Billion €3.19 Billion €494.00 Million ▲ +12.7%
2020 0.70x €1.04 Billion €1.49 Billion €368.00 Million ▼ -6.3%
2019 0.75x €2.11 Billion €2.82 Billion €598.00 Million ▲ +3.7%
2018 0.72x €1.94 Billion €2.69 Billion €611.00 Million ▲ +32.8%
2017 0.54x €896.00 Million €1.65 Billion €678.00 Million ▼ -63.3%
2016 1.48x €2.00 Billion €1.35 Billion €651.00 Million ▲ +4.0%
2015 1.43x €1.55 Billion €1.09 Billion €464.00 Million ▼ -16.7%
2014 1.71x €1.20 Billion €701.00 Million €499.00 Million ▲ +2.8%
2013 1.67x €1.06 Billion €634.00 Million €422.00 Million —
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).