AS FY 2025 Earnings Report — Amer Sports, Inc. Revenue & Financial Results | Market Cap Arena

Amer Sports, Inc.AS

FY 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$6.6B	—	$5.2B	—	26.7%
Op. Income	$680M	—	$471M	—	44.4%
Gross Margin	57.6%	—	55.4%	—	2.2pp
Net Margin	6.5%	—	1.4%	—	5.1pp
EPS (Diluted)	$0.76	—	$0.14	—	442.9%
Free Cash Flow	$504M	—	$183M	—	175.2%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$2.8B
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.1B
Other Expenses	$0
Operating Expenses	$3.1B
Cost & Expenses	$5.9B
OPERATING INCOME	$680M
Interest Income	$6M
Interest Expense	$98M
Other Income/Expenses	-$55M
INCOME BEFORE TAX	$625M
Income Tax Expense	$184M
Net Income from Continuing Ops	$440M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$427M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$427M
D&A	$384M
EBIT	$722M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$2.8B
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.1B
Other Expenses	$0
Operating Expenses	$3.1B
Cost & Expenses	$5.9B
OPERATING INCOME	$680M
Interest Income	$6M
Interest Expense	$98M
Other Income/Expenses	-$55M
INCOME BEFORE TAX	$625M
Income Tax Expense	$184M
Net Income from Continuing Ops	$440M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$427M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$427M
D&A	$384M
EBIT	$722M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$427M
Depreciation & Amortization	$384M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$28M
Change in Working Capital	-$111M
OPERATING CASH FLOW	$729M
Capital Expenditure	-$226M
Acquisitions (Net)	-$45M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$338M
Net Debt Issuance	$4M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$164M
NET CASH FROM FINANCING	-$123M
FREE CASH FLOW	$504M
Net Change in Cash	$307M

Balance Sheet

Item	Amount
Cash & Equivalents	$652M
Short-Term Investments	$0
Net Receivables	$830M
Inventory	$1.6B
Other Current Assets	$200M
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$1.5B
Goodwill	$2.3B
Intangible Assets	$2.8B
Long-Term Investments	$71M
Tax Assets	$84M
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$6.8B
TOTAL ASSETS	$10.1B
Account Payables	$770M
Short-Term Debt	$300M
Deferred Revenue	$0
Other Current Liabilities	$1.0B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$520M
Other Non-Current Liabilities	-$599M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$4.2B
Common Stock	$19M
Additional Paid-In Capital	$3.3B
Retained Earnings	-$214M
Treasury Stock	$0
Accum. Other Comp. Income	$2.8B
Other Equity	-$43M
TOTAL STOCKHOLDERS' EQUITY	$5.8B
Minority Interest	$19M
TOTAL EQUITY	$5.8B
TOTAL LIABILITIES & EQUITY	$10.1B
Total Debt	$2.4B
Net Debt	$1.8B