Amer Sports, Inc. key statistics and ratios

In fiscal 2025, Amer Sports, Inc. had return on equity of 7.9%, an operating margin of 10.7%, debt equal to 16.1% of equity and a current ratio of 1.50. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Amer Sports, Inc.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	49.1%	50.0%	52.5%	55.4%	57.6%
Operating margin	6.1%	1.4%	6.9%	9.1%	10.7%
Net margin	−4.1%	−7.1%	−4.7%	1.4%	6.5%
Free-cash-flow margin	6.8%	−4.7%	1.7%	3.8%	7.8%
Return on equity	—	—	—	3.0%	7.9%
Return on assets	—	−3.2%	−2.6%	0.9%	4.6%
Asset turnover	—	0.45	0.54	0.62	0.71
Current ratio	—	1.70	1.49	1.52	1.50
Debt to equity	0.0%	—	—	18.5%	16.1%
Interest cover (operating income ÷ interest)	1.7x	0.2x	0.8x	2.1x	7.2x
Effective tax rate	—	—	—	51.4%	29.5%
Capital spending as % of revenue	2.0%	2.2%	2.8%	4.4%	3.3%
Free cash flow ÷ net income	—	—	—	269.4%	120.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · December 31, 2025

What it owns · $10.1bn

Short-term assets $3.3bnLonger-term assets $6.8bn

What it owes, and who funded it · $10.0bn

Short-term liabilities $2.2bnLonger-term liabilities $2.0bnShareholders' equity $5.8bn

Short-term assets cover short-term liabilities $3.3bn of assets due within a year against $2.2bn of liabilities due within a year.
Short-term assets cover long-term liabilities $3.3bn short-term assets against $2.0bn of longer-dated liabilities.
More cash than debt $652m of cash against $935m of debt.
Debt below 40% of shareholders' equity Debt is 16% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $730m of operating cash flow against $935m of debt.
Operating profit covers interest at least five times over Operating income of $702m against $98m of interest.

From Amer Sports, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Amer Sports, Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Amer Sports, Inc.