adidas AG Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	24,811	23,683	21,427	22,511	21,234
Revenue Growth (YoY)	4.76%	10.53%	-4.81%	6.01%	15.18%
Cost of Revenue	12,006	11,658	11,244	11,867	10,469
Gross Profit	12,805	12,025	10,183	10,644	10,765
Selling, General & Admin	10,841	10,915	9,914	10,015	8,810
Other Operating Expenses	-99	-198	-30	-116	-46
Operating Expenses	10,749	10,702	9,903	9,962	8,770
Operating Income	2,056	1,323	280	682	1,995
Interest Expense	-310	-221	-160	-137	-111
Interest & Investment Income	-	57	39	23	12
Currency Exchange Gain (Loss)	-	-93	-121	-166	-37
Other Non Operating Income (Expenses)	74	42	41	-1	1
EBT Excluding Unusual Items	1,820	1,108	79	401	1,860
Gain (Loss) on Sale of Assets	-	13	-13	-13	-8
Pretax Income	1,820	1,121	66	388	1,852
Income Tax Expense	443	297	124	134	360
Earnings From Continuing Operations	1,377	824	-58	254	1,492
Earnings From Discontinued Operations	8	8	44	384	666
Net Income to Company	1,385	832	-14	638	2,158
Minority Interest in Earnings	-45	-68	-61	-26	-42
Net Income	1,340	764	-75	612	2,116
Net Income to Common	1,340	764	-75	612	2,116
Net Income Growth	75.39%	-	-	-71.08%	389.81%
Shares Outstanding (Basic)	178	179	179	183	194
Shares Outstanding (Diluted)	178	179	179	183	194
Shares Change (YoY)	-0.07%	0.00%	-2.57%	-5.62%	-0.50%
EPS (Basic)	7.51	4.28	-0.42	3.34	10.90
EPS (Diluted)	7.51	4.28	-0.42	3.34	10.90
EPS Growth	75.51%	-	-	-69.36%	392.51%
Free Cash Flow	388	2,491	2,187	-983	2,698
Free Cash Flow Per Share	2.17	13.95	12.25	-5.36	13.89
Dividend Per Share	-	2.000	0.700	0.700	3.300
Dividend Growth	-	185.71%	-	-78.79%	10.00%
Gross Margin	51.61%	50.78%	47.52%	47.28%	50.70%
Operating Margin	8.29%	5.59%	1.31%	3.03%	9.40%
Profit Margin	5.40%	3.23%	-0.35%	2.72%	9.96%
Free Cash Flow Margin	1.56%	10.52%	10.21%	-4.37%	12.71%
EBITDA	3,210	1,853	785	1,213	2,512
EBITDA Margin	12.94%	7.82%	3.66%	5.39%	11.83%
D&A For EBITDA	1,154	530	505	531	517
EBIT	2,056	1,323	280	682	1,995
EBIT Margin	8.29%	5.59%	1.31%	3.03%	9.40%
Effective Tax Rate	24.34%	26.49%	187.88%	34.54%	19.44%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.