Adidas AG
Financial Performance
Adidas Revenue & Financials
Revenue
~$28B (FY2025)
Market Cap
$29B
Net Income
~$1.5B
Employees
64,938
What is Adidas's revenue?
Adidas had ~$28B in revenue for fiscal year 2025, up 4.8% from 2024. Net income was ~$1.5B.
- Latest revenue
- ~$28B (FY2025)
- Year-over-year
- +4.8%
- Growth rate (CAGR)
- 2.8% over 9 years
- Peak revenue
- ~$28B (FY2025)
- Years of data
- 10
- Employees
- 64,938
- What is Adidas's operating income?
- Adidas reported operating income of ~$2.3B for fiscal year 2025. report.adidas-group.com
- How much profit does Adidas make?
- Adidas reported net income of ~$1.5B for fiscal year 2025. report.adidas-group.com
- How many employees does Adidas have?
- Adidas has about 64,938 employees.
Financial Analysis
Adidas reported a ~$84.7 million (EUR75 million) attributable net loss in 2023 after ending the Ye partnership, followed by attributable net income of ~$863 million (EUR764 million) in 2024 and ~$1.51 billion (EUR1.340 billion) in 2025. Sales rose from ~$24.2 billion (EUR21.427 billion) in 2023 to ~$28 billion (EUR24.811 billion) in 2025. Adidas is Europe's largest sportswear manufacturer, carrying a strong global market valuation that regularly tops $30 billion.
Revenue Trend Analysis
YoY Change
+4.8%
9-Year CAGR
+2.8%
Peak Year
2025
Trend
Consistent Growth
Adidas AG has 10 full fiscal year figures on this page, compounding at +2.8% annually over 9 years. The most recent year saw a 4.8% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at ~$28B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | ~$28B | ~$2.3B | ~$1.5B | +4.8% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. Operating profit was €2,056 million, total assets were €20.26 billion, and net cash flows from operating activities were €751 million. |
| FY2024 | ~$26.8B | ~$1.5B | ~$863.3M | +10.5% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2023 | ~$24.2B | ~$302.8M | -~$84.7M | -4.8% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2022 | ~$25.4B | ~$756M | ~$691.6M | +6.0% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2021 | ~$24B | ~$2.2B | ~$2.4B | +7.0% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2020 | ~$22.4B | — | ~$484.8M | -16.1% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2019 | ~$26.7B | — | ~$2.2B | +7.9% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2018 | ~$24.8B | — | ~$1.9B | +3.3% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2017 | ~$24B | — | ~$1.2B | +10.0% | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
| FY2016 | ~$21.8B | — | ~$1.1B | — | Adidas Annual Report 2025 Fiscal year ended December 31. Net income is attributable to shareholders. |
Click any row to see year details.
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Adidas Revenue and Financial FAQ
What are the key metrics from Adidas's 2025 financial statement and balance sheet?
According to the Adidas Annual Report 2025, total assets were €20,262 million (down 2% from €20,655 million in 2024). Shareholders' equity increased 5% to €5,776 million (up from €5,476 million in 2024), resulting in an equity ratio of 28.5%. Operating profit reached €2,056 million with an 8.3% operating margin (up 54% from €1,337 million in 2024), and net cash flows from operating activities were €751 million after working capital investments and dividend payouts.
What was Adidas's total net revenue in fiscal year 2024/2025?
Adidas generated about US$28.0 billion (€24.811 billion) in net sales in fiscal 2025, up from about US$26.8 billion (€23.683 billion) in 2024, with 13% currency-neutral growth and double-digit growth in all markets and channels.
What is Adidas's operating profit and gross margin profile?
Adidas generated operating profit of about US$2.3 billion (€2.056 billion) in 2025, up 54%, for an 8.3% operating margin, while gross margin improved to 51.6% as the company resolved legacy Yeezy inventory overhang and reduced promotional retail discounting.
How did Adidas resolve the financial impact of the Yeezy partnership termination?
Following the October 2022 termination of the Yeezy partnership, Adidas systematically sold off remaining inventory drops across 2023 and 2024, donating over $150 million of proceeds to anti-hate charities and avoiding a projected ~$565M (€500M) write-off.
What is Adidas's market capitalization and stock exchange listing?
Adidas is listed on the Frankfurt Stock Exchange under ticker ADS and is a member of the DAX 40 index, with a market capitalization of about US$29 billion in late September 2026.
What is Adidas's dividend policy and shareholder return track record?
Adidas maintains a progressive dividend payout policy, distributing between 30% and 50% of net income from continuing operations to shareholders while preserving balance sheet liquidity for brand marketing.
How much does Adidas spend on global marketing and sponsorships annually?
Adidas spends roughly 11% to 12% of annual net revenue, approximately $2.94 billion (€2.6 billion) to ~$3.16 billion (€2.8 billion) per year, on point-of-sale marketing, grassroots sports events, digital social campaigns, and top athlete sponsorships.
What is Adidas's balance sheet health and debt structure?
Adidas maintains an investment-grade credit rating with over $1.69 billion (€1.5 billion) in cash reserves and roughly $2.82 billion (€2.5 billion) in net debt, supported by positive operating cash flows exceeding ~$2.26 billion (€2 billion) annually.
How is Adidas performing in the Greater China market?
After several years of post-pandemic channel recovery, Adidas rebounded in Greater China to generate over $3.84 billion (€3.4 billion) in annual sales, driven by localized 'Glory of Sport' retail formats and national sports sponsorships.
Is Adidas profitable?
Adidas remains highly profitable, though its margins were temporarily severely impacted by the Yeezy inventory write-downs before stabilizing.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Adidas Revenue & Financials." CorpDigest, https://corpdigest.com/company/adidas/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Adidas reported ~$28B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/adidas/financials" target="_blank" rel="noopener">CorpDigest — Adidas financials</a></div>Related Financial Audits
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