Puma SE (FRA:PUM) EBIT: €-331 Mil (TTM As of Mar. 2026)


FRA:PUM Puma SE FRA:PUM
68 GF Score
Price €26.05
GF Value €31.95
Valuation Modestly Undervalued
! 9 Warning Signs
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What is Puma SE EBIT?

Puma SE FRA:PUM -7.59% 68 EBIT is €-331 Mil as of Mar. 2026. GuruFocus rates FRA:PUM with a GF Score™ of 68/100 and a GF Value™ of €31.95 (Modestly Undervalued). The stock has 9 warning signs investors should review.

Puma SE's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €52 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €-331 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Puma SE's annualized ROC % for the quarter that ended in Mar. 2026 was 3.02%. Puma SE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.76%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Puma SE's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -5.17%.

Puma SE  (FRA:PUM) EBIT Explanation

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

Puma SE'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 )
=207.2 * ( 1 - 27% )/( (4803.8 + 5200.7)/ 2 )
=151.256/5002.25
=3.02 %

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))
=6454.6 - 1325.9 - ( 324.9 - max(0, 3196.8 - 3770.3+324.9))
=4803.8

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))
=6585.8 - 1058.9 - ( 326.2 - max(0, 3112.4 - 3939.7+326.2))
=5200.7

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

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

Puma SE'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 )
=207.2/( ( (1816.1 + max(1373.6, 0)) + (1086.9 + max(1856.3, 0)) )/ 2 )
=207.2/( ( 3189.7 + 2943.2 )/ 2 )
=207.2/3066.45
=6.76 %

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)
=(913.4 + 2058.5 + 451.6) - (1325.9 + 0 + 724)
=1373.6

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1210.2 + 1898 + 505.3) - (1058.9 + 0 + 698.3)
=1856.3

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:

Puma SE's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-331.3/6414.141
=-5.17 %

* 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.

Puma SE EBIT Related Terms

Puma SE EBIT Historical Data

* Premium members only.

The historical data trend for Puma SE'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.

Puma SE EBIT Chart

Puma SE 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 549.70 675.40 579.10 517.40 -410.10

Puma SE 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 43.40 -13.10 29.40 -399.40 51.80

FRA:PUM vs NKE, DECK, ONON: EBIT Comparison

For the Footwear & Accessories subindustry, Puma SE'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.

Puma SE EV-to-EBIT vs Manufacturing - Apparel & Accessories Industry

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

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


FRA:PUM
68GF Score
Puma SE FRA:PUM
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Puma SE 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 €-331 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 €-331 Mil mean?
Puma SE (FRA:PUM) has a EBIT of €-331 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Puma SE.
Is Puma SE's EBIT too high?
Puma SE's current EBIT is €-331 Mil. Overall, Puma SE has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Puma SE's EBIT compare to NKE and DECK?
Puma SE's EBIT of €-331 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 Puma SE. Puma SE's current EBIT is €-331 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Puma SE stock overvalued right now?
Based on GuruFocus' analysis, Puma SE (FRA:PUM) is currently considered Modestly Undervalued. The stock's GF Value™ is €31.95, compared to a current price of €26.05 — trading 18.5% below its estimated fair value. The current EBIT is €-331 Mil. Puma SE's overall GF Score™ is 68/100 with 9 warning signs to review. 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 Puma SE (FRA:PUM), the current EBIT is €-331 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 Puma SE (FRA:PUM) Overvalued in 2026?

Based on GuruFocus' analysis, Puma SE stock appears to be undervalued. The current stock price of €26.05 is trading 18.5% below its estimated GF Value™ of €31.95. GuruFocus considers Puma SE to be Modestly Undervalued.

Key valuation signals for FRA:PUM:

  • EBIT: €-331 Mil
  • GF Value™: €31.95 vs. price of €26.05 (18.5% below fair value)
  • GF Score™: 68/100 with 9 warning signs

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

Puma SE Business Description

Address Puma Way 1, Herzogenaurach, BY, DEU, 91074
Puma designs and markets footwear, apparel, and accessories under its own name and golf clubs and golf accessories under the Cobra Golf name. Footwear (56% of 2025 sales) is its largest category, followed by apparel (32%) and accessories (12%). Puma also licenses its name for fragrances, eyewear, and watches. Most of its sales are through wholesale partners (68% of 2025 sales), with the rest through approximately 1,000 owned retail and outlet stores and online channels. The company's products are sold in Europe, the Middle East, and Africa (43% of 2025 sales), the Americas (35%), and Asia-Pacific (22%). China-based competitor Anta is in the process of acquiring 29% of Puma's outstanding shares.
68GF Score

Get the complete analysis for FRA:PUM

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

€26.05
Price
€31.95
GF Value