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). Read ADS total debt and obligations for a breakdown of total debt and financial obligations.

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. Explore adidas AG capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.

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

Year-by-year Free Cash Flow Generation Index for adidas AG. For the full company profile including market capitalisation, see adidas AG market capitalisation.

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).