adidas AG (ADS) - Net Assets
Based on the latest financial reports, adidas AG (ADS) has net assets worth €6.35 Billion EUR (≈ $7.42 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€20.45 Billion ≈ $23.91 Billion USD) and total liabilities (€14.11 Billion ≈ $16.49 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore adidas AG balance sheet assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €6.35 Billion |
| % of Total Assets | 31.04% |
| Annual Growth Rate | 0.93% |
| 5-Year Change | -21.85% |
| 10-Year Change | -5.11% |
| Growth Volatility | 13.11 |
adidas AG - Net Assets Trend (2013–2025)
This chart illustrates how adidas AG's net assets have evolved over time, based on quarterly financial data. Check adidas AG tangible equity quality to evaluate the tangible quality of the company's equity base.
Annual Net Assets for adidas AG (2013–2025)
The table below shows the annual net assets of adidas AG from 2013 to 2025. For live valuation and market cap data, see market value of adidas AG.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €6.12 Billion ≈ $7.16 Billion |
+4.38% |
| 2024-12-31 | €5.87 Billion ≈ $6.86 Billion |
+19.15% |
| 2023-12-31 | €4.92 Billion ≈ $5.76 Billion |
-7.96% |
| 2022-12-31 | €5.35 Billion ≈ $6.26 Billion |
-31.72% |
| 2021-12-31 | €7.84 Billion ≈ $9.16 Billion |
+17.13% |
| 2020-12-31 | €6.69 Billion ≈ $7.82 Billion |
-5.19% |
| 2019-12-31 | €7.06 Billion ≈ $8.25 Billion |
+10.89% |
| 2018-12-31 | €6.36 Billion ≈ $7.44 Billion |
-1.10% |
| 2017-12-31 | €6.43 Billion ≈ $7.52 Billion |
-0.31% |
| 2016-12-31 | €6.46 Billion ≈ $7.55 Billion |
+14.29% |
| 2015-12-31 | €5.65 Billion ≈ $6.60 Billion |
+0.55% |
| 2014-12-31 | €5.62 Billion ≈ $6.57 Billion |
+2.48% |
| 2013-12-31 | €5.48 Billion ≈ $6.41 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to adidas AG's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 16.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €5.76 Billion | 99.69% |
| Other Components | €18.00 Million | 0.31% |
| Total Equity | €5.78 Billion | 100.00% |
adidas AG Competitors by Market Cap
The table below lists competitors of adidas AG ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kenvue Inc.
NYSE:KVUE
|
$32.24 Billion |
|
Bajaj Finserv Limited
NSE:BAJAJFINSV
|
$32.42 Billion |
|
SANDVIK AB SP.ADR
F:SVK
|
$32.51 Billion |
|
Crown Castle
NYSE:CCI
|
$32.62 Billion |
|
Transurban Group
AU:TCL
|
$32.08 Billion |
|
Fairfax Financial Holdings Ltd
TO:FFH
|
$32.07 Billion |
|
Orix Corp Ads
F:OIXA
|
$32.07 Billion |
|
Viking Holdings Ltd
NYSE:VIK
|
$32.06 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in adidas AG's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,476,000,000 to 5,776,000,000, a change of 300,000,000 (5.5%).
- Net income of 1,340,000,000 contributed positively to equity growth.
- Dividend payments of 357,000,000 reduced retained earnings.
- Share repurchases of 43,000,000 reduced equity.
- New share issuances of 39,000,000 increased equity.
- Other factors decreased equity by 679,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €1.34 Billion | +23.2% |
| Dividends Paid | €357.00 Million | -6.18% |
| Share Repurchases | €43.00 Million | -0.74% |
| Share Issuances | €39.00 Million | +0.68% |
| Other Changes | €-679.00 Million | -11.76% |
| Total Change | €- | 5.48% |
Book Value vs Market Value Analysis
This analysis compares adidas AG's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.35x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 5.46x to 5.35x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €31.64 | €172.85 | x |
| 2018-12-31 | €32.02 | €172.85 | x |
| 2019-12-31 | €34.68 | €172.85 | x |
| 2020-12-31 | €33.09 | €172.85 | x |
| 2021-12-31 | €39.14 | €172.85 | x |
| 2022-12-31 | €27.95 | €172.85 | x |
| 2023-12-31 | €25.65 | €172.85 | x |
| 2024-12-31 | €30.67 | €172.85 | x |
| 2025-12-31 | €32.33 | €172.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently adidas AG utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 23.20%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.40%
- • Asset Turnover: 1.22x
- • Equity Multiplier: 3.51x
- Recent ROE (23.20%) is above the historical average (15.80%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 14.34% | 5.54% | 1.22x | 2.11x | €238.10 Million |
| 2014 | 8.71% | 3.37% | 1.17x | 2.21x | €-72.40 Million |
| 2015 | 11.19% | 3.75% | 1.27x | 2.35x | €67.40 Million |
| 2016 | 15.71% | 5.27% | 1.27x | 2.34x | €369.80 Million |
| 2017 | 17.01% | 5.17% | 1.46x | 2.25x | €452.00 Million |
| 2018 | 26.69% | 7.77% | 1.40x | 2.45x | €1.06 Billion |
| 2019 | 29.08% | 8.36% | 1.14x | 3.04x | €1.30 Billion |
| 2020 | 6.69% | 2.18% | 0.94x | 3.26x | €-213.40 Million |
| 2021 | 28.14% | 9.97% | 0.96x | 2.94x | €1.36 Billion |
| 2022 | 12.26% | 2.72% | 1.11x | 4.07x | €112.90 Million |
| 2023 | -1.64% | -0.35% | 1.19x | 3.93x | €-533.00 Million |
| 2024 | 13.95% | 3.23% | 1.15x | 3.77x | €216.40 Million |
| 2025 | 23.20% | 5.40% | 1.22x | 3.51x | €762.40 Million |
Industry Comparison
This section compares adidas AG's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $36,754,447,844
- Average return on equity (ROE) among peers: -277.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| adidas AG (ADS) | €6.35 Billion | 14.34% | 2.22x | $32.11 Billion |
| 361 Degrees International Limited (36L) | $9.42 Billion | 7.93% | 0.32x | $1.19 Billion |
| adidas AG (ADS1) | $7.06 Billion | 28.00% | 1.93x | $24.65 Billion |
| ASICS CORP.(UNSP.ADR)/1 (ASI) | $234.94 Billion | 27.16% | 1.21x | $17.00 Billion |
| GROUNDED PEOPLE APPAREL (K1G) | $112.91K | -2045.90% | 4.90x | $642.43K |
| Phillips 66 (PSX) | $762.24 Million | 13.98% | 0.22x | $84.09 Million |
| PUMA SE (PUM) | $2.28 Billion | 13.59% | 1.51x | $2.72 Billion |
| PUMA SE UNSP.ADR 1/10 (PUMA) | $2.83 Billion | 9.96% | 1.52x | $2.26 Billion |
About adidas AG
adidas AG, together with its subsidiaries, designs, develops, produces, and markets a range of athletic and sports lifestyle products in Europe, Greater China, Japan, South Korea, Latin America, North America, and internationally. The company offers footwear and apparel, as well as accessories and gear, including bags, balls, sunglasses, and fitness equipment under the adidas brand; golf footwear… Read more