Key Stats for Amer Sports Stock
- Past-30-Day Performance: 10%
- 52-Week Range: $23 to $43
- Valuation Model Target Price: around $63
- Implied Upside: about 70%
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What Happened?
Amer Sports stock rose about 10% over the past 30 days, finishing near $36 per share as investors leaned into a growing narrative that the company is emerging as a premium global sports brand platform. The story is being driven by Arc’teryx, a high-end outdoor apparel brand known for strong margins, and Salomon, which is expanding beyond outdoor gear into sneakers and lifestyle footwear, positioning the company to compete more directly with global leaders like Nike and Deckers, the parent company of HOKA.
The stock moved higher primarily because recent earnings confirmed that Amer Sports is not just growing quickly, but doing so with improving profitability, which is a key driver of stock re-ratings. Investors are increasingly rewarding companies that combine double-digit revenue growth with margin expansion, and Amer Sports delivered both, while institutional investors added to positions across the board.
Massachusetts Financial Services increased its stake by 130% to over 3.0 million shares, SG Americas Securities built a new position of about 266,000 shares, and Gotham Asset Management and JPMorgan also increased holdings, reinforcing confidence in the company’s long-term trajectory.
In its latest earnings update, Amer Sports reported 27% revenue growth to $6.6 billion in 2025, with Q4 sales up 28% and adjusted EPS rising to $0.31 from $0.17 last year, while guiding for 16% to 18% revenue growth in 2026. CEO Zheng said it was a “breakout year,” driven by Arc’teryx delivering 34% growth and Salomon growing 35% to more than $2 billion in sales, with direct-to-consumer revenue up 38% in Q4.
At the same time, insider selling activity was disclosed, with CFO Andrew Page, CEO Stuart Haselden, and General Counsel Jutta Karlsson selling shares around $33. While these transactions reduced individual holdings, they were relatively small compared to broader institutional buying and did not appear to disrupt the stock’s upward momentum.
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Is Amer Sports Undervalued?
Under valuation assumptions, the stock is modeled using:
- Revenue Growth (CAGR): around 15%
- Operating Margins: around 14%
- Exit P/E Multiple: around 30x
Amer Sports’ growth outlook is increasingly tied to the global expansion of its premium brands, particularly Arc’teryx and Salomon, which are gaining share in the fast-growing high-end athletic and outdoor market.
Unlike more mature peers like Nike, which is growing at a slower pace, and Deckers, which owns HOKA and is already more scaled in performance footwear, Amer Sports is earlier in its growth cycle with more room to expand.
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Growth is expected to be driven by continued global store expansion, especially in Asia and North America, rising direct-to-consumer sales which carry higher margins than wholesale, and strong demand for newer product categories like footwear and women’s apparel.
At the same time, margins are projected to improve from about 11% to around 14%, supported by pricing power, reduced discounting, and a growing mix of higher-margin direct sales. This matters because companies that expand margins while growing revenue tend to see the biggest stock re-ratings over time.
At current levels, Amer Sports appears undervalued, with returns likely driven by sustained brand momentum, continued share gains against larger competitors, and margin expansion as the company scales globally.
How Much Upside Does Amer Sports Stock Have From Here?
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All it takes is three simple inputs:
- Revenue Growth
- Operating Margins
- Exit P/E Multiple
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