Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
adidas AG's change in working capital for the quarter that ended in Jun. 2026 was CHF159 Mil.
adidas AG's change in working capital for the fiscal year that ended in Dec. 2025 was CHF-1,906 Mil.
It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement. Not by calculating the number changes in each periods' working capital (Total Current Assets minus Total Current Liabilities).
adidas AG Change In Working Capital Historical Data
* Premium members only.
The historical data trend for adidas AG's Change In Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF-658 Mil.
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities.
Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement.
Changes in certain assets and liabilities, net of effects of acquisitions:
Receivables, net
(566)
(614)
(796)
Inventories
(1,667)
(2,759)
(3,727)
Accounts payable
531
1,061
2,687
Accrued liabilities
103
271
(935)
Accrued income taxes
(1,224)
981
994
For 2014-01-31, add all the items under 2014 collum together, Change in Working Capital was (566) + (1,667) + 531 + 103 + (1,224) = $ (2,823) Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Change In Working Capital of CHF-658 Mil mean?
adidas AG (XSWX:ADS) has a Change In Working Capital of CHF-658 Mil as of Jun. 2026. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for adidas AG.
Is adidas AG's Change In Working Capital too high?
adidas AG's current Change In Working Capital is CHF-658 Mil. Overall, adidas AG has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does adidas AG's Change In Working Capital compare to NKE and DECK?
adidas AG's Change In Working Capital of CHF-658 Mil can be compared against companies in the Manufacturing - Apparel & Accessories industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Working Capital for a Manufacturing - Apparel & Accessories company?
A good Change In Working Capital depends on the Manufacturing - Apparel & Accessories industry context. However, Change In Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Working Capital mean?
A high Change In Working Capital can signal that a stock is expensive relative to its fundamentals. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for adidas AG. adidas AG's current Change In Working Capital is CHF-658 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is adidas AG stock overvalued right now?
Based on GuruFocus' analysis, adidas AG (XSWX:ADS) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF200.17, compared to a current price of CHF151.10 — trading 24.5% below its estimated fair value. The current Change In Working Capital is CHF-658 Mil. adidas AG's overall GF Score™ is 83/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Working Capital calculated?
Change In Working Capital is calculated from a company's financial statements. For adidas AG (XSWX:ADS), the current Change In Working Capital is CHF-658 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is adidas AG (XSWX:ADS) Overvalued in 2026?
Based on GuruFocus' analysis, adidas AG stock appears to be undervalued.
The current stock price of CHF151.10 is trading 24.5% below its estimated GF Value™ of CHF200.17.
GuruFocus considers adidas AG to be Modestly Undervalued.
Key valuation signals for XSWX:ADS:
Change In Working Capital: CHF-658 Mil
GF Value™: CHF200.17 vs. price of CHF151.10 (24.5% below fair value)
No single metric tells the full story. See the XSWX:ADS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adidas designs, develops, produces, and markets athletic and leisure apparel, footwear, accessories, and sports equipment. Under its eponymous brand, it produces apparel for competitive athletics, casual activewear, and casual fashion. Adidas sells its products in more than 160 countries through about 2,000 owned retail stores, 15,000 Adidas-branded franchise stores (including about 8,000 in China), 150,000 wholesale doors, and an owned e-commerce site that is available in 67 countries. The company was founded in 1949 in Germany.
83GF Score
Get the complete analysis for XSWX:ADS
Change In Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:ADS has been successfully added to your 
