adidas AGHAM:ADS +0.37%80 PB Ratio is 5.21 as of Jun. 24, 2026, which is 17% below its 10-year median of 6.30. GuruFocus rates HAM:ADS with a GF Score™ of 80/100 and a GF Value™ of €219.02 (Modestly Undervalued). Among 1,005 Manufacturing - Apparel & Accessories companies, adidas AG ranks worse than 90.95% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-24), adidas AG's share price is €175.90. adidas AG's Book Value per Share for the quarter that ended in Mar. 2026 was €33.76. Hence, adidas AG's PB Ratio of today is 5.21.
The historical rank and industry rank for adidas AG's PB Ratio or its related term are showing as below:
HAM:ADS'
s PB Ratio Range Over the Past 10 Years
Min: 2.91 Med: 6.3 Max: 9.03
Current: 5.09
During the past 13 years, adidas AG's highest PB Ratio was 9.03. The lowest was 2.91. And the median was 6.30.
During the past 12 months, adidas AG's average Book Value Per Share Growth Rate was 5.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 5.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -2.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -0.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of adidas AG was 32.70% per year. The lowest was -8.10% per year. And the median was 6.90% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
adidas AG PB Ratio Related Terms
adidas AG PB Ratio Historical Data
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The historical data trend for adidas AG's PB Ratio 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.
For the Footwear & Accessories subindustry, adidas AG's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, adidas AG's PB Ratio distribution charts can be found below:
* The bar in red indicates where adidas AG's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
adidas AG's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
adidas AG (HAM:ADS) has a PB Ratio of 5.21 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on adidas AG and its competitors. This is 17% below median its historical median of 6.30. Over the past decade, adidas AG's PB Ratio has ranged from 2.91 to 9.03. According to the industry distribution chart, adidas AG ranks #914 out of 1005 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 90.9%.
Is adidas AG's PB Ratio too high?
adidas AG's current PB Ratio of 5.21 is 17% below median its 10-year median of 6.30. Over the past 10 years, this metric has ranged from a low of 2.91 to a high of 9.03. The Manufacturing - Apparel & Accessories industry median PB Ratio is 1.08. adidas AG's value of 5.21 is 382.4% above this industry median. Based on the distribution chart, adidas AG ranks #914 out of 1005 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, adidas AG has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does adidas AG's PB Ratio compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, adidas AG ranks #914 out of 1005 companies for PB Ratio. This places adidas AG in the lower half of its industry. The industry median PB Ratio is 1.08. adidas AG's value of 5.21 is 382.4% above this benchmark. Historically, adidas AG's own PB Ratio has ranged from 2.91 to 9.03 over the past decade. While the company's 10-year median is 6.30 vs. the industry median of 1.08, 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 PB Ratio for a Manufacturing - Apparel & Accessories company?
The median PB Ratio among Manufacturing - Apparel & Accessories companies is 1.08, based on 1,005 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. adidas AG's current PB Ratio of 5.21 is 382.4% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on adidas AG and its competitors. For the Manufacturing - Apparel & Accessories industry, the median PB Ratio is 1.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. adidas AG's current PB Ratio is 5.21, which is 17% below median its own 10-year median of 6.30. 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 (HAM:ADS) is currently considered Modestly Undervalued. The stock's GF Value™ is €219.02, compared to a current price of €175.90 — trading 19.7% below its estimated fair value. The current PB Ratio is 5.21, which is 17% below median its 10-year median of 6.30 and 382.4% above the Manufacturing - Apparel & Accessories industry median of 1.08. adidas AG's overall GF Score™ is 80/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For adidas AG (HAM:ADS), the current PB Ratio is 5.21 as of Jun. 24, 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 (HAM:ADS) Overvalued in 2026?
Based on GuruFocus' analysis, adidas AG stock appears to be undervalued.
The current stock price of €175.90 is trading 19.7% below its estimated GF Value™ of €219.02.
GuruFocus considers adidas AG to be Modestly Undervalued.
Key valuation signals for HAM:ADS:
PB Ratio: 5.21 (17% below median its 10-year median of 6.30)
GF Value™: €219.02 vs. price of €175.90 (19.7% below fair value)
Industry Position: 382.4% above the Manufacturing - Apparel & Accessories median (#914 of 1005)
No single metric tells the full story. See the HAM: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.
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