Adidas AG is one of the most significant names in the sportswear industry. Widely recognised for its iconic athletic and lifestyle footwear, apparel, and accessories, the company serves a diverse consumer base across various sports and cultural segments.
For investors evaluating the global consumer discretionary sector, particularly activewear and footwear, Adidas AG is certainly a stock to consider.
Adidas Share Price & Chart
After facing significant pressure in most of 2022, particularly due to the termination of the Yeezy partnership, Adidas stock has shown a strong recovery, trending upwards. However, this year has been more of a struggle with the stock beginning to pull back in February. It is now down over 15% YTD (as of July 28, 2025). It has declined by around 12.4% in the last 12 months.
P/E Ratio Average (End of 2024): 55.3
Dividend Yield: 1%
Adidas EPS and Revenue Breakdown 2020-2024
| ADS | Annual EPS | Annual Revenue |
|---|---|---|
| 2020 | €2.21 | €18.44 billion |
| 2021 | €10.90 | €21.23 billion |
| 2022 | €3.34 | €22.51 billion |
| 2023 | €-0.42 | €21.43 billion |
| 2024 | €4.28 | €23.68 billion |
Adidas AG is a German company, founded in 1949. It is headquartered in Herzogenaurach, Germany and is now one of the world’s largest sportswear manufacturers, designing, developing, producing, and marketing athletic and sports lifestyle products.
The company’s primary listing is on the Deutsche Börse stock exchange in Frankfurt, under the ticker “ADS.” It is a component of the DAX index. Adidas operates through a hybrid business model, combining direct-to-consumer channels (own retail stores and e-commerce platforms) with a network of wholesale distributors. Its main competitor is Nike.
Adidas Stock Forecast
Data compiled by TradingView indicates that of the 31 analysts covering the stock, 21 have a “Buy” rating, 7 have a “Hold” rating, and 3 have a “Sell” rating.
A View From the Bulls: In May, Piper Sandler initiated coverage of Adidas with an Overweight rating and a EUR 265 price target, noting in a research report that it liked the risk-return profile of the business, which it forecasted would grow earnings by 50% on average in 2025 and 2026. They added that, with the US accounting for 20% of sales, Adidas has limited tariff exposure.
In April, BofA analyst Thierry Cota raised the firm’s rating for Adidas to Buy from Neutral with a price target of EUR 260. BofA said it believed the company’s superior sales growth would continue, while also noting that the sportswear giant is better positioned than peers on tariff risks.
Baird upgraded Adidas to Outperform from Neutral in April, explaining that the stock’s risk/reward following the pullback was “much improved.” The firm added that its late-March company travel strengthened confidence in Adidas’ global brand momentum, “deep” pipeline, and improving wholesale relationships. Baird was another firm that also said Adidas has limited US tariff exposure, while also highlighting the company’s “conservative” 2025 guidance.
A View From the Bears: The bearish argument is generally centered around intense competition in the sportswear market, particularly from rival Nike and agile new entrants (On Running), which could pressure market share and margins. Other factors may include reliance on fashion trends for certain product lines, which can be volatile, as well as macroeconomic headwinds affecting consumer spending on discretionary items, particularly in key markets such as China.
In March, Deutsche Bank lowered the Adidas price target, noting that the sportswear firm “is making all the right moves from an operational standpoint, but the share price is broadly flat since April 2024 despite consistently positive earnings momentum.” Even so, the bank maintained a Buy rating on the stock.
Average Analyst Consensus 12-Month Price Target: $261.9
Our View: Despite the recent share price performance, Adidas AG has demonstrated a commendable turnaround, showcasing its brand resilience and effective strategic execution. While the sportswear market remains highly competitive, Adidas has put itself in a strong position for continued recovery and growth. Investors should closely monitor the company’s ability to maintain brand relevance and innovate effectively in a fast-changing industry.
Who Should Buy Adidas Shares
When assessing Adidas AG, several investor profiles might find it a suitable addition to their portfolios:
A strong brand turnaround story: The company’s recent rebound and strategic adjustments offer a compelling narrative for those looking for recovery plays.
Global sportswear and fashion trends: Adidas’s ability to drive demand for classic and new styles appeals to those who believe in the long-term growth of this market.
Athletic and lifestyle apparel and footwear consumers: Direct familiarity with Adidas products and brand strength might attract investors who are also customers.
