adidas AGXSWX:ADS 82 Debt-to-EBITDA is 1.49 as of Mar. 2026, which is 14% below its 10-year median of 1.73. GuruFocus rates XSWX:ADS with a GF Score™ of 82/100 and a GF Value™ of CHF192.09 (Modestly Undervalued). Among 803 Manufacturing - Apparel & Accessories companies, adidas AG ranks better than 61.89% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for adidas AG's Debt-to-EBITDA or its related term are showing as below:
XSWX:ADS'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.44 Med: 1.73 Max: 4.21
Current: 1.79
During the past 13 years, the highest Debt-to-EBITDA Ratio of adidas AG was 4.21. The lowest was 0.44. And the median was 1.73.
XSWX:ADS's Debt-to-EBITDA is ranked better than 61.89% of 803
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 2.71
vs XSWX:ADS: 1.79
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
adidas AG Debt-to-EBITDA Related Terms
adidas AG Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for adidas AG's Debt-to-EBITDA 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.
XSWX:ADS vs NKE, DECK, ONON: Debt-to-EBITDA Comparison
For the Footwear & Accessories subindustry, adidas AG's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
adidas AG Debt-to-EBITDA vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, adidas AG's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where adidas AG's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
adidas AG (XSWX:ADS) has a Debt-to-EBITDA of 1.49 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on adidas AG. This is 14% below median its historical median of 1.73. Over the past decade, adidas AG's Debt-to-EBITDA has ranged from 0.44 to 4.21. According to the industry distribution chart, adidas AG ranks #306 out of 803 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 38.1%.
Is adidas AG's Debt-to-EBITDA too high?
adidas AG's current Debt-to-EBITDA of 1.49 is 14% below median its 10-year median of 1.73. Over the past 10 years, this metric has ranged from a low of 0.44 to a high of 4.21. The Manufacturing - Apparel & Accessories industry median Debt-to-EBITDA is 2.71. adidas AG's value of 1.49 is 45% below this industry median. Based on the distribution chart, adidas AG ranks #306 out of 803 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, adidas AG has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does adidas AG's Debt-to-EBITDA compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, adidas AG ranks #306 out of 803 companies for Debt-to-EBITDA. This puts adidas AG in the upper half of its industry. The industry median Debt-to-EBITDA is 2.71. adidas AG's value of 1.49 is 45% below this benchmark. Historically, adidas AG's own Debt-to-EBITDA has ranged from 0.44 to 4.21 over the past decade. While the company's 10-year median is 1.73 vs. the industry median of 2.71, adidas AG has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Manufacturing - Apparel & Accessories company?
The median Debt-to-EBITDA among Manufacturing - Apparel & Accessories companies is 2.71, based on 803 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. adidas AG's current Debt-to-EBITDA of 1.49 is 45% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on adidas AG. For the Manufacturing - Apparel & Accessories industry, the median Debt-to-EBITDA is 2.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. adidas AG's current Debt-to-EBITDA is 1.49, which is 14% below median its own 10-year median of 1.73. 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 CHF192.09, compared to a current price of CHF168.15 — trading 12.5% below its estimated fair value. The current Debt-to-EBITDA is 1.49, which is 14% below median its 10-year median of 1.73 and 45% below the Manufacturing - Apparel & Accessories industry median of 2.71. adidas AG's overall GF Score™ is 82/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For adidas AG (XSWX:ADS), the current Debt-to-EBITDA is 1.49 as of Mar. 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 CHF168.15 is trading 12.5% below its estimated GF Value™ of CHF192.09.
GuruFocus considers adidas AG to be Modestly Undervalued.
Key valuation signals for XSWX:ADS:
Debt-to-EBITDA: 1.49 (14% below median its 10-year median of 1.73)
GF Value™: CHF192.09 vs. price of CHF168.15 (12.5% below fair value)
Industry Position: 45% below the Manufacturing - Apparel & Accessories median (#306 of 803)
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.
82GF Score
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