adidas AGXSWX:ADS 82 Debt-to-Equity is 0.99 as of Mar. 2026, which is 19% above its 10-year median of 0.83. GuruFocus rates XSWX:ADS with a GF Score™ of 82/100 and a GF Value™ of CHF192.07 (Modestly Undervalued). Among 931 Manufacturing - Apparel & Accessories companies, adidas AG ranks worse than 75.94% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for adidas AG's Debt-to-Equity or its related term are showing as below:
XSWX:ADS'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.18 Med: 0.83 Max: 1.45
Current: 0.99
During the past 13 years, the highest Debt-to-Equity Ratio of adidas AG was 1.45. The lowest was 0.18. And the median was 0.83.
XSWX:ADS's Debt-to-Equity is ranked worse than 75.94% of 931
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.43
vs XSWX:ADS: 0.99
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
adidas AG Debt-to-Equity Related Terms
adidas AG Debt-to-Equity Historical Data
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The historical data trend for adidas AG's Debt-to-Equity 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-Equity Comparison
For the Footwear & Accessories subindustry, adidas AG's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, adidas AG's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where adidas AG's Debt-to-Equity 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.
adidas AG (XSWX:ADS) has a Debt-to-Equity of 0.99 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on adidas AG and its competitors. This is 19% above median its historical median of 0.83. Over the past decade, adidas AG's Debt-to-Equity has ranged from 0.18 to 1.45. According to the industry distribution chart, adidas AG ranks #707 out of 931 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 75.9%.
Is adidas AG's Debt-to-Equity too high?
adidas AG's current Debt-to-Equity of 0.99 is 19% above median its 10-year median of 0.83. Over the past 10 years, this metric has ranged from a low of 0.18 to a high of 1.45. The Manufacturing - Apparel & Accessories industry median Debt-to-Equity is 0.43. adidas AG's value of 0.99 is 130.2% above this industry median. Based on the distribution chart, adidas AG ranks #707 out of 931 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. 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-Equity compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, adidas AG ranks #707 out of 931 companies for Debt-to-Equity. This places adidas AG in the lower half of its industry. The industry median Debt-to-Equity is 0.43. adidas AG's value of 0.99 is 130.2% above this benchmark. Historically, adidas AG's own Debt-to-Equity has ranged from 0.18 to 1.45 over the past decade. While the company's 10-year median is 0.83 vs. the industry median of 0.43, adidas AG has consistently been above 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-Equity for a Manufacturing - Apparel & Accessories company?
The median Debt-to-Equity among Manufacturing - Apparel & Accessories companies is 0.43, based on 931 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. adidas AG's current Debt-to-Equity of 0.99 is 130.2% above 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-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on adidas AG and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Debt-to-Equity is 0.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. adidas AG's current Debt-to-Equity is 0.99, which is 19% above median its own 10-year median of 0.83. 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 CHF192.07, compared to a current price of CHF168.15 — trading 12.5% below its estimated fair value. The current Debt-to-Equity is 0.99, which is 19% above median its 10-year median of 0.83 and 130.2% above the Manufacturing - Apparel & Accessories industry median of 0.43. 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-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For adidas AG (XSWX:ADS), the current Debt-to-Equity is 0.99 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 CHF192.07.
GuruFocus considers adidas AG to be Modestly Undervalued.
Key valuation signals for XSWX:ADS:
Debt-to-Equity: 0.99 (19% above median its 10-year median of 0.83)
GF Value™: CHF192.07 vs. price of CHF168.15 (12.5% below fair value)
Industry Position: 130.2% above the Manufacturing - Apparel & Accessories median (#707 of 931)
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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