Amer Sports
AS · NYSEApparel & Other Finishd Prods of Fabrics & Similar Matl · Fiscal year ends Dec 31
Net income was $440M. Operating cash flow of $730M less capital expenditure of $217M left free cash flow of $513M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cost of revenue | $1.6B | $1.8B | $2.1B | $2.3B | $2.8B |
| Gross profit | $1.5B | $1.8B | $2.3B | $2.9B | $3.8B |
| Selling, general & admin | $1.3B | $1.5B | $2B | $2.4B | $3.1B |
| Operating income | $187M | $51M | $303M | $471M | $702M |
| Interest expense | $279M | $238M | $398M | $219M | $98M |
| Pre-tax income | −$90M | −$183M | −$105M | $161M | $625M |
| Income tax | $35M | $48M | $104M | $83M | $184M |
| Net income | −$126M | −$253M | −$209M | $78M | $440M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $568M | $402M | $483M | $345M | $652M |
| Inventory | – | $913M | $1.1B | $1.2B | $1.6B |
| Current assets | – | $2.2B | $2.4B | $2.5B | $3.3B |
| Net PP&E | – | $362M | $442M | $550M | $698M |
| Goodwill | – | $2.2B | $2.3B | $2.1B | $2.3B |
| Total assets | – | $7.9B | $8.4B | $8.4B | $10.1B |
| Current liabilities | – | $1.3B | $1.6B | $1.6B | $2.2B |
| Total liabilities | – | $8B | $8.5B | $3.4B | $4.2B |
| Shareholders' equity | $38M | −$74M | −$160M | $5B | $5.8B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $268M | −$92M | $199M | $425M | $730M |
| Capital expenditure | $61M | $78M | $124M | $229M | $217M |
| Free cash flow | $207M | −$169M | $75M | $196M | $513M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | −72.9% | 497.8% | 55.6% | 49.1% |
| Return on equityBlank when equity is negative | −332.4% | – | – | 1.6% | 7.6% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 0.8% | 4.4% | 6.9% | 8.9% |
| Cash conversion (CFO ÷ net income) | −2.12x | 0.36x | −0.95x | 5.42x | 1.66x |
| Inventory days | – | 187 | 192 | 193 | 213 |
| Interest cover | 0.67x | 0.21x | 0.76x | 2.15x | 7.18x |
| Current ratio | – | 1.70x | 1.49x | 1.52x | 1.50x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.