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Finnish-rooted sportswear/equipment group owning Arc'teryx, Salomon and Wilson brands, IPO'd in the US in 2024.
Finnish-rooted sportswear/equipment group owning Arc'teryx, Salomon and Wilson brands, IPO'd in the US in 2024.
Sells through wholesale to sports retailers and through its own stores and websites, and is steadily shifting toward the latter, where it keeps more of the sale price. The Arc'teryx and Salomon brands carry growth, with Greater China among the fastest-growing regions. A consortium led by Anta Sports bought the group in 2019.
In one line: A Nordic/outdoor version of VF Corp, home to Arc'teryx and Salomon..
Moat: narrow (brand, distribution). Arc'teryx and Salomon carry premium brand loyalty and growing direct-to-consumer distribution.
Headquarters: Helsinki, Finland · Founded: 1950 · Employees: 15,400
Size Amer Sports (AS) is a United States Consumer Discretionary company (Recreational Products) with a market value of $18.3B, the 520th largest of 3,117 United States companies the cockpit tracks. Shares closed at $31.47 on 6 Nov 2026.
Performance Over six months the shares fell 12.7%, against +4.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 30.5% over the last twelve months (peer median +6.8%); the operating margin is 12.9% (peer median 11.4%).
Valuation It trades at 21.9× forward earnings against a peer median of 18.3× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.8 points below its cost of capital (14.2% WACC).
Short interest Short interest is 2.6% of the free float (15 Oct 2026).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.44B | $6.57B | $5.18B | $4.40B | $3.55B |
| Revenue growth | — | +27% | +18% | +24% | — |
| Gross profit | $4.45B | $3.45B | $2.64B | $2.13B | $1.76B |
| EBITDA | $1.40B | $1.10B | $758M | $551M | $436M |
| Net income | $546M | $427M | $72.6M | -$209M | -$247M |
| Free cash flow | n/a | $504M | $183M | $59.9M | -$179M |
| Capital expenditure | n/a | $293M | $288M | $152M | $120M |
| Total debt | $1.10B | $1.75B | $1.48B | $6.66B | $6.24B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Amer Sports AS | $18.3B | -13% | +30% | 13% | 21.9× | 23.5% |
| V.F VFC | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% |
| Deckers Brands DECK | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% |
| Columbia Sportswear COLM | $3.61B | +12% | 0% | 8% | 16.2× | 4.6% |
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.6% | +11.9% | 7th highest of 21 |
| 6-month return | -12.7% | +4.5% | 5th lowest of 21 |
| Distance from 52-week high | -26.4% | -16.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +30.5% | +6.8% | 2nd highest of 21 |
| Operating margin | 12.9% | 11.4% | 11th highest of 21 |
| Forward P/E | 21.9× | 18.3× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 23.5% | 2.4% | 2nd most demanding of 20 |
| Growth delivered (Del g) | +21.8% | +7.0% | 2nd highest of 20 |
| Hurdle (Req g minus delivered) | +1.7 pp | -5.9 pp | 5th most demanding of 20 |
| ROIC minus cost of capital | -3.8 pp | +3.6 pp | 2nd lowest of 20 |
| EV / EBITDA | 13.4× | 11.2× | 5th most expensive of 20 |
| Net debt / EBITDA | 0.3× | 0.2× | 10th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Amer Sports AS | United States | $18.3B | -13% | +30% | 13% | 21.9× | 23.5% | +21.8% |
| Hasbro HAS | United States | $16.6B | +22% | +19% | 31% | 17.3× | -9.8% | -3.0% |
| Bandai Namco 7832.T | Japan | $26.1B | +76% | +9% | 15% | 25.5× | -0.4% | +12.7% |
| Games Workshop GAW.L | United Kingdom | $7.15B | -17% | +7% | 42% | 25.2× | 11.7% | +12.3% |
| Acushnet GOLF | United States | $4.72B | -12% | +7% | 13% | 20.0× | 3.8% | +9.7% |
| Mattel MAT | United States | $4.39B | 0% | +3% | 9% | 12.8× | 0.2% | +3.1% |
| Thor Industries THO | United States | $4.18B | +5% | 0% | 3% | 22.3× | 16.0% | -4.8% |
| Fluidra FDR.MC | Spain | $4.12B | +4% | +2% | 14% | 14.9× | 5.4% | +8.0% |
| Asmodee ASMDEE-B.ST | Sweden | $3.97B | +39% | +17% | 16% | 17.1× | -1.8% | +11.9% |
| Polaris PII | United States | $3.59B | -8% | +9% | 2% | 22.2× | 18.1% | +0.4% |
| Yamaha 7951.T | Japan | $3.39B | +7% | +5% | 8% | 15.8× | -1.7% | +4.5% |
| Hayward HAYW | United States | $3.38B | +11% | +8% | 22% | 17.9× | 9.9% | +5.1% |
| Technogym S.p.A TGYM.MI | Italy | $3.34B | -32% | +10% | 16% | 23.8× | 9.7% | +14.9% |
| Callaway Golf CALY | United States | $3.00B | -4% | -37% | 9% | 18.6× | 2.4% | +5.3% |
| Tomy 7867.T | Japan | $2.74B | +89% | +7% | 9% | 20.2× | 2.5% | +13.9% |
| Alpha 002292.SZ | China | $2.08B | +13% | +2% | 9% | 72.3× | 28.4% | +0.9% |
| tonies TNIE.DE | Germany | $1.86B | +24% | +36% | 4% | 37.4× | n/a | n/a |
| VTech 0303.HK | Hong Kong | $1.72B | -15% | -7% | 9% | 11.9× | -9.7% | -3.0% |
| Bloks 0325.HK | Hong Kong | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% | +102.8% |
| Spin Master TOY.TO | Canada | $1.52B | +6% | -2% | 9% | 9.6× | -11.5% | +7.0% |
| Sanlorenzo SL.MI | Italy | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% | +13.7% |