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Amer Sports, Inc.
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$18.1B
Market Cap
49.1
P/E
0.92
PEG
7.6%
ROCE
8.1%
ROE
0.27
D/E
10.7%
OPM
-24.7%
% from 52W High
19
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for AS including FX impact
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📈 Price History
Ratio Health
Excellent
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By Category
📊 Sector Averages
About

Amer Sports, Inc. designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, Mainland China, Hong Kong, Macau, Taiwan, and the Asia Pacific.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding AS
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 9.91M $326.3M 0.42% Mar 2026
Andreas Halvorsen Viking Global Investors 7.27M $239.3M 0.67% Mar 2026
Jim Simons Renaissance Technologies LLC 792.8K $26.1M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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Good quarter Investor Presentation One-Pager? Q1 2026
Revenue
$1.9B
+32% YoY
Operating Income
$0.3B
+46% YoY
Operating Margin
17.4%
+1.6pp YoY
Net Income
$0.2B
+47% YoY
What Went Right
  • Outdoor Performance revenue up 42% led by Salomon Softgoods
  • Arc'teryx omni-comp of 19% with strong double-digit growth across all regions
  • All four regions achieved double-digit revenue growth, with Americas accelerating
What to Watch
  • Ball & Racquet operating margin fell 370bps to 3.6% due to investments and costs
  • Inventory growth of 33% slightly exceeded sales growth; management expects normalization in H2
  • Tariff uncertainty: guidance assumes higher pre-ruling rates; refunds not yet booked
Management Guidance
  • Q2 reported revenue growth expected 22–24%
  • Full-year revenue growth raised to 20–22% (from 16–18%)
  • Full-year adjusted operating margin raised to 13.4–13.7% (from 13.1–13.3%); adjusted diluted EPS raised to $1.18–$1.23
Investor Lens
The thesis is stronger after the call. Broad-based momentum across all segments and regions, with Arc'teryx and Salomon accelerating, drove a 32% revenue beat and 160bps margin expansion. Raised full-year guidance across all metrics demonstrates management confidence. While Ball & Racquet margins are under pressure from investments, the portfolio strength supports continued reinvestment. The only headwinds are manageable tariff and inventory normalization.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong beat with 32% top-line growth and raised outlook
Revenue
Revenue reached $1,945 million, up 32% YoY (26% ex-currency), driven by Outdoor Performance (+42%), Technical Apparel (+33%), and Ball & Racquet (+13%). All four regions grew double digits, led by Asia-Pacific (+53%) and Greater China (+45%).
Profitability
Adjusted net income was $218 million, up 47% YoY, with adjusted diluted EPS of $0.38, above prior guidance. Operating profit (adjusted) rose 46% to $339 million.
Margins
Adjusted gross margin expanded 200bps to 60.0% on favorable mix. Adjusted operating margin rose 160bps to 17.4%, driven by leverage in Technical Apparel and Outdoor Performance despite higher corporate costs.
Balance Sheet
Net cash was $539 million at quarter end, with $684 million in cash. Inventory increased 33% to $1.7B, slightly above sales growth, but management sees normalization by H2. CapEx guidance remains ~$400 million.
Key Risks
Management flagged tariff uncertainty (higher IEEPA rates assumed for remaining year) and potential oil price impacts on logistics. Ball & Racquet margin declined 370bps due to investments in Tennis 360. Inventory growth running slightly ahead of sales.
Outlook
Q2 revenue growth guided at 22–24% reported. Full-year revenue growth raised to 20–22%, adjusted operating margin to 13.4–13.7%, and adjusted diluted EPS to $1.18–$1.23.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q1 2026 Q1 2026 2026-05-19
Q1 delivered 32% sales growth, margin expansion, and strong double-digit gains across all regions, led by Arc'teryx, Salomon, and Wilson. Raised 2026 guidance for revenue, margins, and EPS, with continued momentum and robust store expansion plans.
Q4 2025 Q4 2025 2026-02-24
Revenue grew 27% to $6.6B in 2025, led by Arc'teryx and Salomon, with strong double-digit growth across all segments and regions. 2026 guidance calls for 16%-18% revenue growth, 59% gross margin, and continued investment in brand expansion and retail.
Q3 2025 Q3 2025 2025-11-18
Q3 delivered 30% sales growth, margin expansion, and doubled adjusted EPS, led by Salomon, Arc'teryx, and Wilson. Raised 2025 guidance across all key metrics, with strong momentum in Asia-Pacific and China and robust D2C growth.
Q2 2025 Q2 2025 2025-08-19
Q2 2025 saw 23% sales growth, margin expansion, and strong D2C momentum, led by Salomon and Arc'teryx. Full-year revenue and EPS guidance were raised, with negligible tariff impact expected. Technical apparel, outdoor performance, and ball and racket all posted double-digit growth.
Q1 2025 Q1 2025 2025-05-20
Q1 2025 saw 23% sales growth and significant margin expansion, driven by strong DTC and premium brand momentum, especially in technical apparel and outdoor performance. Full-year guidance was raised for revenue and EPS, with tariff risks mitigated and robust growth expected across all segments.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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