ADDDF (adidas AG) EBIT: $2,560 Mil (TTM As of Mar. 2026)


ADDDF adidas AG ADDDF
86 GF Score
Price $196.88
GF Value $239.20
Valuation Modestly Undervalued
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What is adidas AG EBIT?

adidas AG ADDDF +2.86% 86 EBIT is $2,560 Mil as of Mar. 2026. GuruFocus rates ADDDF with a GF Score™ of 86/100 and a GF Value™ of $239.20 (Modestly Undervalued).

adidas AG's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $828 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $2,560 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. adidas AG's annualized ROC % for the quarter that ended in Mar. 2026 was 13.60%. adidas AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 38.31%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. adidas AG's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.22%.


adidas AG  (OTCPK:ADDDF) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

adidas AG's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=3264.74 * ( 1 - 24.92% )/( (17676.815 + 18373.41)/ 2 )
=2451.166792/18025.1125
=13.60 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=23725.995 - 4269.321 - ( 1779.859 - max(0, 10648.712 - 14024.59+1779.859))
=17676.815

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=23646.243 - 3545.665 - ( 1727.168 - max(0, 10506.358 - 14196.532+1727.168))
=18373.41

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

adidas AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3310.984/( ( (5360.656 + max(2781.03, 0)) + (5314.451 + max(3828.902, 0)) )/ 2 )
=3310.984/( ( 8141.686 + 9143.353 )/ 2 )
=3310.984/8642.5195
=38.31 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3085.48 + 6829.04 + 2052.693) - (4269.321 + 0 + 4916.862)
=2781.03

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4036.994 + 6691.329 + 1741.041) - (3545.665 + 0 + 5094.797)
=3828.902

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

adidas AG's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=2560.104/41178.709
=6.22 %

* 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 EBIT Related Terms


adidas AG EBIT Historical Data

* Premium members only.

The historical data trend for adidas AG's EBIT 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.

adidas AG EBIT Chart

adidas AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,218.08 556.14 245.37 1,405.24 2,398.13

adidas AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 696.22 640.14 877.93 214.29 827.75

ADDDF vs NKE, DECK, ONON: EBIT Comparison

For the Footwear & Accessories subindustry, adidas AG's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, adidas AG's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where adidas AG's EV-to-EBIT falls into.


ADDDF
86GF Score
adidas AG ADDDF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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adidas AG EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,560 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $2,560 Mil mean?
adidas AG (ADDDF) has a EBIT of $2,560 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on adidas AG.
Is adidas AG's EBIT too high?
adidas AG's current EBIT is $2,560 Mil. Overall, adidas AG has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does adidas AG's EBIT compare to NKE and DECK?
adidas AG's EBIT of $2,560 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 EBIT for a Manufacturing - Apparel & Accessories company?
A good EBIT depends on the Manufacturing - Apparel & Accessories industry context. However, EBIT 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 EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on adidas AG. adidas AG's current EBIT is $2,560 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 (ADDDF) is currently considered Modestly Undervalued. The stock's GF Value™ is $239.20, compared to a current price of $196.88 — trading 17.7% below its estimated fair value. The current EBIT is $2,560 Mil. adidas AG's overall GF Score™ is 86/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For adidas AG (ADDDF), the current EBIT is $2,560 Mil 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 (ADDDF) Overvalued in 2026?

Based on GuruFocus' analysis, adidas AG stock appears to be undervalued. The current stock price of $196.88 is trading 17.7% below its estimated GF Value™ of $239.20. GuruFocus considers adidas AG to be Modestly Undervalued.

Key valuation signals for ADDDF:

  • EBIT: $2,560 Mil
  • GF Value™: $239.20 vs. price of $196.88 (17.7% below fair value)
  • GF Score™: 86/100

No single metric tells the full story. See the ADDDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


adidas AG Business Description

Address Adi-Dassler-Strasse 1, Herzogenaurach, BY, DEU, 91074
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.
86GF Score

Get the complete analysis for ADDDF

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$196.88
Price
$239.20
GF Value