Amer Sports Financials
Amer Sports (AS) reported $6.6B in revenue for fiscal year 2025, up 26.7% from the prior fiscal year. This page shows its 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).
AS has shifted from balance-sheet repair to cash-backed growth, with scale now generating its own funding.
Between FY2022 and FY2025, the operating model crossed from externally supported to self-funding: net income moved from-$252.7M to$440.4M while operating cash flow rose from-$91.7M to$729.8M . At the same time, the earlier negative-equity posture flipped to$5.8B of equity, so recent growth appears to be strengthening the balance sheet rather than leaning on it.
Cash conversion in FY2025 was stronger than accounting profit, with operating cash flow reaching
The balance sheet looks less constrained than it did two years ago: debt to equity was only 0.1x in FY2025 while the current ratio stayed near 1.5x. With revenue at
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Amer Sports's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Amer Sports, and counted as zero in the overall score.
Amer Sports's revenue surged 26.7% year-over-year to $6.6B, reflecting rapid business expansion. This strong growth earns a score of 84/100.
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 79/100, indicating a strong balance sheet with room for future borrowing.
Amer Sports's current ratio of 1.50 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
Amer Sports has a free cash flow margin of 7.8%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
Not available for Amer Sports, and counted as zero in the overall score.
Amer Sports passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
AS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| 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 |
| 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 | $0.02 | $0.11 | -$0.01 | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.
AS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| 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 |
| 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 |
Not reported in any period shown, so not listed: Accounts Receivable, Retained Earnings.
AS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| 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 |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
AS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | 1.500.0x | 1.51-0.1x | 1.60-0.1x | 1.66+0.1x | 1.52-0.1x | 1.62-0.3x | 1.87 | N/A |
| Debt-to-Equity | 0.110.0x | 0.100.0x | 0.090.0x | 0.090.0x | 0.090.0x | 0.100.0x | 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% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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Where Amer Sports Ranks
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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 42 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.