Amer Sports

Leisure · Consumer Cyclical

Price

$36.44

+0.41 (+1.14%)

Market Cap

$21.07B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+15.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 489.5M (2021) → 563.1M (2025)

Amer Sports is a sporting goods company that owns several well-known athletic brands. Its biggest name is Arc'teryx, which makes premium outdoor apparel and gear. It also owns Wilson (tennis rackets, balls, and team sports equipment) and Salomon (ski boots, trail running shoes, and outdoor gear). Its customers range from professional athletes to everyday outdoor enthusiasts.

The company makes money by selling products through its own retail stores, its websites, and wholesale partners like sporting goods retailers. Amer Sports operates globally, with strong presence in North America, Europe, and a fast-growing business in China. Arc'teryx commands premium prices and has a loyal customer base, which helps protect margins. However, the company carries significant debt from its 2019 acquisition by a Chinese-led investor group, and its growth depends heavily on continued consumer appetite for expensive outdoor and athletic products — a category that can slow sharply during economic downturns.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+28.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+708.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

71.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$652M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Amer Sports grew revenue 28% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

57.7%

Premium pricing power — 57.7% gross margin

Operating Margin

10.7%

Modest — 10.7% operating margin

ROCE

3.0%

Weak — 3.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+26.7%

Fast-growing sales (26.7% YoY)

EPS YoY

+438.9%

Earnings growing fast (438.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

171%

Turns 171% of profit into real cash

FCF Margin

7.7%

Modest free cash flow (7.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.30

Conservative — low debt load (0.30)

Interest Cover

7.14x

Adequate interest coverage (7.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

47.2x

Expensive — P/E 47.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+27.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (47.2 → 19.3)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial