Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Amer Sports, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2023
FY2023
FY2024
FY2025
Revenue
3,067
3,571
4,400
5,183
6,566
Cost of revenue
1,561
1,785
2,092
2,312
2,782
Gross profit
1,506
1,786
2,308
2,872
3,784
Selling, general and administrative
1,327
1,545
2,015
2,430
3,105
Operating income
187
50.6
303
471
702
Interest expense
279
-1
15.8
67.6
Interest income
2.3
3.3
6.4
8.8
6.4
Pre-tax income
-89.8
-183
-105
161
625
Income tax
34.7
48.3
104
82.8
184
Income from continuing operations
-125
-231
-209
78.4
Net income to minority interests
0
-0.2
5.8
13
Net income
-126
-253
-209
72.6
427
EBITDA
383
245
523
745
1,086
EPS, basic
-0.33
-0.66
-0.54
0.15
0.77
EPS, diluted
-0.33
-0.66
-0.54
0.14
0.76
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
568
402
483
345
652
Inventory
913
1,100
1,223
1,622
Total current assets
2,173
2,352
2,459
3,304
Property, plant and equipment
362
442
550
698
Lease right-of-use assets
184
317
524
763
Goodwill
2,242
2,270
2,128
2,338
Intangible assets
2,756
2,749
2,590
2,782
Total assets
7,895
8,374
8,396
10,064
Short-term debt
291
0
0
Total current liabilities
1,279
1,574
1,614
2,209
Lease liabilities
133
250
439
661
Total liabilities
7,969
8,531
3,388
4,244
Total debt
6,236
6,321
927
935
Paid-in capital
0
3,189
3,251
Retained earnings
-849
-1,058
Shareholders' equity
-73.9
-160
4,999
5,802
Minority interests
3.4
9.1
18.9
Total equity
38
-73.9
-157
5,008
5,821
Total liabilities and equity
7,895
8,374
8,396
10,064
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
-126
-253
-209
78.4
440
Depreciation and amortization
196
194
221
274
384
Cash from operations
268
-91.7
199
425
730
Capital expenditures
-60.7
-77.7
-124
-229
-217
Cash from investing
295
-119
-155
-268
-338
Stock issued
0
0
2,561
0
Cash from financing
-370
81.1
35
-266
-124
Exchange rate effect
-22.4
-36.4
2.1
-28.4
39.2
Net change in cash
194
-129
79.3
-110
268
Free cash flow
207
-169
75.4
196
513
Interest paid
126
118
179
197
95.9
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $27.77 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
57.6%
Gross profit / revenue.
Operating margin
10.7%
Operating income / revenue.
EBITDA margin
16.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
9.5%
Pre-tax income / revenue.
Net margin
6.5%
Net income / revenue.
FCF margin
7.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
11.1%
Cash from operations / revenue.
Effective tax rate
29.5%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
7.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
4.6%
Net income / average total assets.
Return on invested capital (ROIC)
8.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
47.3%
Selling, general and administrative expense / revenue.
Capex / revenue
3.3%
Capital expenditures / revenue.
D&A / revenue
5.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
26.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
22.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
31.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
28.4%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y
49.1%
Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y
140.3%
Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
45.9%
EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y
64.3%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y
488.7%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
442.9%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
71.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
162.4%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
16.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
19.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
8.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.50x
Current assets / current liabilities.
Quick ratio
0.30x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.30x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.16x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
9.3%
Total debt / total assets.
Liabilities / assets
42.2%
Total liabilities / total assets.
Net debt
$282.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
0.26x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
29.7%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.76
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$0.77
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$15.49B
Share price x shares outstanding.
Enterprise value
$15.77B
Market cap + total debt - cash - short-term investments.
P/E
36.2x
Market cap / net income. Only when net income is positive.
P/S
2.36x
Market cap / revenue.
P/B
2.67x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
22.7x
Market cap / tangible book value, when positive.
P/FCF
30.2x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
21.2x
Market cap / cash from operations, when positive.
EV/Sales
2.40x
Enterprise value / revenue.
EV/EBIT
22.5x
Enterprise value / operating income, when both are positive.
EV/EBITDA
14.5x
Enterprise value / EBITDA, when both are positive.
EV/FCF
30.7x
Enterprise value / free cash flow, when both are positive.
FCF yield
3.3%
Free cash flow / market cap.
Earnings yield
2.8%
Net income / market cap (the inverse of P/E).
What was Amer Sports, Inc.'s revenue in fiscal 2025?
Amer Sports, Inc. reported revenue of $6.57B for fiscal 2025, 26.7% higher than the year before.
Was Amer Sports, Inc. profitable in fiscal 2025?
Yes. Net income was $427.4M, a net margin of 6.5%.
How much free cash flow did Amer Sports, Inc. generate in fiscal 2025?
Cash from operations of $729.8M minus capital expenditures of $216.5M left free cash flow of $513.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.