Adidas stock reports 13.30 percent Q2 sales growth

Published on 09/28/2026 at 10:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adidas stock traded at EUR 147.40 on September 28, 2026, with a EUR 25.8 billion market value. Q2 net sales rose 13.30 percent, but the margin fell to 8.50 percent.

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Adidas stock (ISIN DE000A1EWWW0) was trading at EUR 147.40 on Xetra on September 28, 2026, up 0.61 percent from the prior close of EUR 146.50. The latest company figures show a sharp sales increase paired with a more modest improvement in operating profit, keeping spending and margins central to the investment case.

Q2 sales grew faster than profit

According to Merca 2.0 on September 17, 2026, Adidas generated Q2 2026 net sales of EUR 6.743 billion, up 13.30 percent from EUR 5.952 billion in Q2 2025. Operating profit rose 5.10 percent to EUR 574.0 million from EUR 546.0 million, while the operating margin declined to 8.50 percent from 9.20 percent.

The gap between sales and profit growth is the key reading. Marketing and point-of-sale spending increased 29.80 percent year over year to EUR 924.0 million, lifting the expense ratio to 13.70 percent of sales from 12.00 percent.

Analyst targets send a mixed signal

According to MarketScreener on September 17, 2026, Bank of America cut its Adidas price target to EUR 156.00 from EUR 184.00 and rated the shares Neutral. Citigroup also reduced its target to EUR 200.00 from EUR 204.00 while retaining a Buy rating.

That contrast leaves the market with two competing signals: revenue momentum is strong, but the earnings conversion rate is weaker. At EUR 147.40, the Bank of America target stands 5.83 percent above the Xetra price, while the Citigroup target is 35.69 percent higher.

Third quarter results are next

MarketScreener lists October 28, 2026, as the date for Adidas' Q3 2026 earnings release. The report will show whether the company can preserve double-digit sales growth while marketing investment continues to weigh on operating margins.

Adidas had a market capitalization of EUR 25.8 billion on September 28, 2026. Its 52-week range was EUR 129.95 to EUR 196.40, placing the current quote 24.44 percent below the yearly high.