Amer Sports Financials
This page shows Amer Sports (AS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Amer Sports's revenue surged 26.7% year-over-year to $6.6B, reflecting rapid business expansion. This strong growth earns a score of 78/100.
Amer Sports carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Amer Sports's current ratio of 1.50 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.
Amer Sports has a free cash flow margin of 7.8%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.
Amer Sports generates a 7.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is up from 1.6% the prior year.
Amer Sports passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Amer Sports generates $1.66 in operating cash flow ($729.8M OCF vs $440.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Amer Sports generated $6.6B in revenue in fiscal year 2025. This represents an increase of 26.7% from the prior year.
Amer Sports reported $440.4M in net income in fiscal year 2025. This represents an increase of 461.7% from the prior year.
Cash & Balance Sheet
Amer Sports generated $513.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 162.4% from the prior year.
Amer Sports held $652.3M in cash against $660.9M in long-term debt as of fiscal year 2025.
Amer Sports had 558M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Amer Sports's net profit margin was 6.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.2 percentage points from the prior year.
Amer Sports's ROE was 7.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.0 percentage points from the prior year.
Capital Allocation
Amer Sports invested $216.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.5% from the prior year.
AS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B+19.6% | $1.8B+42.1% | $1.2B-16.0% | $1.5B-10.0% | $1.6B+20.8% | $1.4B+35.2% | $1.0B-16.0% | $1.2B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $9.2M+4.5% | $8.8M+11.4% | $7.9M+9.7% | $7.2M+5.9% | $6.8M+6.3% | $6.4M+30.6% | $4.9M+14.0% | $4.3M |
| Income Tax | $73.9M+44.1% | $51.3M+8650.0% | -$600K-101.0% | $59.5M+10.6% | $53.8M-26.0% | $72.7M+240.1% | -$51.9M-732.9% | $8.2M |
| Net Income | $133.5M-8.8% | $146.4M+553.6% | $22.4M-83.8% | $138.1M+707.6% | $17.1M-69.6% | $56.2M+3222.2% | -$1.8M-126.1% | $6.9M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | $0.11+1200.0% | $-0.01 | N/A |
AS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.1B+3.6% | $9.7B+7.7% | $9.0B+5.8% | $8.5B+1.6% | $8.4B-4.9% | $8.8B+7.1% | $8.2B | N/A |
| Current Assets | $3.3B+4.2% | $3.2B+23.1% | $2.6B+5.4% | $2.4B-0.6% | $2.5B-3.5% | $2.5B+16.2% | $2.2B | N/A |
| Cash & Equivalents | $652.3M+84.6% | $353.3M+16.4% | $303.4M-28.1% | $422.1M+22.2% | $345.4M+10.7% | $312.0M+21.9% | $255.9M-24.1% | $337.3M |
| Inventory | $1.6B-5.2% | $1.7B+7.1% | $1.6B+26.0% | $1.3B+3.6% | $1.2B-8.6% | $1.3B+7.9% | $1.2B | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $2.3B+1.0% | $2.3B+1.3% | $2.3B+5.7% | $2.2B+1.6% | $2.1B-6.7% | $2.3B+1.5% | $2.2B | N/A |
| Total Liabilities | $4.2B+4.9% | $4.0B+15.7% | $3.5B+6.0% | $3.3B-2.7% | $3.4B-28.2% | $4.7B+11.5% | $4.2B | N/A |
| Current Liabilities | $2.2B+5.3% | $2.1B+30.2% | $1.6B+9.8% | $1.5B-9.0% | $1.6B+2.7% | $1.6B+34.2% | $1.2B | N/A |
| Long-Term Debt | $660.9M+15.0% | $574.9M+11.3% | $516.4M+6.7% | $484.1M+10.3% | $439.0M+7.7% | $407.8M+23.7% | $329.8M | N/A |
| Total Equity | $5.8B+2.7% | $5.7B+2.6% | $5.5B+5.6% | $5.2B+4.4% | $5.0B+21.8% | $4.1B+2.5% | $4.0B-0.3% | $4.0B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $625.4M+20274.2% | -$3.1M+94.5% | -$56.2M-134.3% | $163.7M-59.8% | $406.8M+931.9% | -$48.9M+1.6% | -$49.7M-142.7% | $116.5M |
| Capital Expenditures | $74.7M+33.2% | $56.1M+25.8% | $44.6M+8.5% | $41.1M-43.0% | $72.1M+41.7% | $50.9M+7.4% | $47.4M-19.3% | $58.7M |
| Free Cash Flow | $550.7M+1030.2% | -$59.2M+41.3% | -$100.8M-182.2% | $122.6M-63.4% | $334.7M+435.4% | -$99.8M-2.8% | -$97.1M-268.0% | $57.8M |
| Investing Cash Flow | -$94.8M+12.3% | -$108.1M-63.8% | -$66.0M+4.6% | -$69.2M+22.6% | -$89.4M-38.6% | -$64.5M-36.9% | -$47.1M+30.0% | -$67.3M |
| Financing Cash Flow | -$238.3M-256.2% | $152.6M+1500.0% | -$10.9M+60.2% | -$27.4M+89.1% | -$251.7M-266.1% | $151.5M+693.2% | $19.1M+110.3% | -$184.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 6.3%-2.0pp | 8.3%+6.5pp | 1.8%-7.6pp | 9.4%+8.3pp | 1.1%-3.1pp | 4.2%+4.3pp | -0.2%-0.8pp | 0.6% |
| Return on Equity | 2.3%-0.3pp | 2.6%+2.2pp | 0.4%-2.2pp | 2.6%+2.3pp | 0.3%-1.0pp | 1.4%+1.4pp | -0.0%-0.2pp | 0.2% |
| Return on Assets | 1.3%-0.2pp | 1.5%+1.3pp | 0.3%-1.4pp | 1.6%+1.4pp | 0.2%-0.4pp | 0.6%+0.7pp | -0.0% | N/A |
| Current Ratio | 1.50-0.0 | 1.51-0.1 | 1.60-0.1 | 1.66+0.1 | 1.52-0.1 | 1.62-0.3 | 1.87 | N/A |
| Debt-to-Equity | 0.11+0.0 | 0.100.0 | 0.090.0 | 0.090.0 | 0.09-0.0 | 0.10+0.0 | 0.08 | N/A |
| FCF Margin | 26.2%+29.6pp | -3.4%+4.8pp | -8.2%-16.5pp | 8.3%-12.1pp | 20.5%+27.8pp | -7.4%+2.3pp | -9.7%-14.6pp | 4.9% |
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Frequently Asked Questions
What is Amer Sports's annual revenue?
Amer Sports (AS) reported $6.6B in total revenue for fiscal year 2025. This represents a 26.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Amer Sports's revenue growing?
Amer Sports (AS) revenue grew by 26.7% year-over-year, from $5.2B to $6.6B in fiscal year 2025.
Is Amer Sports profitable?
Yes, Amer Sports (AS) reported a net income of $440.4M in fiscal year 2025, with a net profit margin of 6.7%.
How much debt does Amer Sports have?
As of fiscal year 2025, Amer Sports (AS) had $652.3M in cash and equivalents against $660.9M in long-term debt.
What is Amer Sports's net profit margin?
Amer Sports (AS) had a net profit margin of 6.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Amer Sports's return on equity (ROE)?
Amer Sports (AS) has a return on equity of 7.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Amer Sports's free cash flow?
Amer Sports (AS) generated $513.3M in free cash flow during fiscal year 2025. This represents a 162.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Amer Sports's operating cash flow?
Amer Sports (AS) generated $729.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Amer Sports's total assets?
Amer Sports (AS) had $10.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Amer Sports's capital expenditures?
Amer Sports (AS) invested $216.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Amer Sports's current ratio?
Amer Sports (AS) had a current ratio of 1.50 as of fiscal year 2025, which is considered adequate.
What is Amer Sports's debt-to-equity ratio?
Amer Sports (AS) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Amer Sports's return on assets (ROA)?
Amer Sports (AS) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Amer Sports's Piotroski F-Score?
Amer Sports (AS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Amer Sports's earnings high quality?
Amer Sports (AS) has an earnings quality ratio of 1.66x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Amer Sports?
Amer Sports (AS) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.