Financials PUMA SE

Equities

PUM

DE0006969603

Footwear

Real-time Estimate Tradegate Other stock markets 14:59:05 13/01/2026 +03			5-day change	1st Jan Change
23.07 ^EUR	-1.28%		+3.21%	+3.90%

01-12	PUMA SE : Bernstein gives a Buy rating	ZD
01-09	AlphaValue/Baader Europe Downgrades Puma to Reduce, Lifts PT	MT

Projected Income Statement: PUMA SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,234	6,805	8,465	8,602	8,817	7,401	7,179	7,659
Change	-	30.01%	24.39%	1.61%	2.51%	-16.07%	-2.99%	6.68%
EBITDA ¹	502.9	862.8	999.3	967.1	970.7	281.3	375.7	648.6
Change	-	71.56%	15.82%	-3.22%	0.37%	-71.02%	33.57%	72.61%
EBIT ¹	209.2	557.1	640.6	621.6	622	-176.3	20.13	298.1
Change	-	166.3%	14.99%	-2.97%	0.06%	-128.34%	111.42%	1,381.34%
Interest Paid ¹	-46.8	-51.8	-88.9	-143.3	-159.7	-176.2	-152	-138.2
Earnings before Tax (EBT) ¹	162.3	505.3	551.7	478.3	462.3	-425.2	-113.3	181
Change	-	211.34%	9.18%	-13.3%	-3.35%	-191.98%	73.36%	259.72%
Net income ¹	78.9	309.6	353.5	304.9	281.6	-513	-94.37	162.3
Change	-	292.4%	14.18%	-13.75%	-7.64%	-282.18%	81.6%	271.97%
Announcement Date	2/24/21 A	2/23/22 A	3/1/23 A	2/9/24 A	3/12/25 A	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	1,520	1,549	1,589	1,900	1,767	1,912	2,002	2,354	2,197	2,188	2,121	2,311	1,982	2,102	2,117	2,308	2,289	2,076	1,942	1,956	1,490
Change	-	1.89%	2.6%	19.59%	-7.01%	8.21%	4.7%	17.6%	-6.7%	-0.41%	-3.06%	8.98%	-14.23%	6.06%	0.71%	9.02%	-0.81%	-9.32%	-6.45%	0.7%	-23.79%
EBITDA ¹	152.7	180.1	134.8	254.7	90.7	270.8	230	343.4	155.1	260.6	195	324.5	187	-	205.4	311	213.9	-	-	-	-104
Change	-	17.94%	-25.15%	88.95%	-64.39%	198.57%	-15.07%	49.3%	-54.83%	68.02%	-25.17%	66.41%	-42.37%	-	-	51.41%	-31.22%	-	-	-	-
EBIT ¹	63.3	154.3	108.9	228.9	65	196	146.3	257.7	40.5	175.5	115.3	236.3	94	159	117.2	237	108.9	57.7	-13.2	39.5	-237.5
Change	-	143.76%	-29.42%	110.19%	-71.6%	201.54%	-25.36%	76.14%	-84.28%	333.33%	-34.3%	104.94%	-60.22%	69.15%	-26.29%	102.22%	-54.05%	-47.02%	-122.88%	399.24%	-701.34%
Charge d'intérêts ¹	-8.2	0.5	-21.7	-10.5	-20	-13	-12.9	-36.9	-26	-7.8	-23	-45.5	-67.1	-26.8	-42.6	-46.7	-43.5	-42	-46.6	-43.8	-31
Earnings before Tax (EBT) ¹	55.1	154.8	87.2	218.3	45	183	133.4	220.8	14.5	167.7	92.4	190.9	27.3	132.2	74.6	190.2	65.3	15.7	-144.4	-14.4	-318
Change	-	180.94%	-43.67%	150.34%	-79.39%	306.67%	-27.1%	65.52%	-93.43%	1,056.55%	-44.9%	106.6%	-85.7%	384.25%	-43.57%	154.96%	-65.67%	-75.96%	-1,019.75%	90.03%	-2,108.33%
Net income ¹	24.7	109.2	48.7	143.8	7.9	121.4	84.3	146.4	1.4	117.3	55	131.7	0.9	87.3	41.9	127.8	24.5	0.5	-247	-62.3	-228.5
Change	-	342.11%	-55.4%	195.28%	-94.51%	1,436.71%	-30.56%	73.67%	-99.04%	8,278.57%	-53.11%	139.45%	-99.32%	9,600%	-52%	205.01%	-80.83%	-97.96%	-49,500%	74.78%	-266.77%
Announcement Date	2/24/21 A	4/28/21 A	7/29/21 A	10/27/21 A	2/23/22 A	4/27/22 A	7/28/22 A	10/26/22 A	3/1/23 A	4/26/23 A	7/26/23 A	10/24/23 A	2/9/24 A	5/8/24 A	8/7/24 A	11/6/24 A	3/12/25 A	5/8/25 A	7/25/25 A	10/30/25 A	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1
Net sales ¹	3,138	3,914	4,551	4,308	4,293	4,220	4,018
Change	-	24.74%	16.27%	-5.33%	-0.35%	-1.72%	-4.77%
EBITDA	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
EBIT ¹	263.2	342.4	298.2	290.9	330.7	276.2	62.5
Change	-	30.09%	-12.91%	-2.45%	13.68%	-16.48%	-77.37%
Charge d'intérêts	-21.3	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	235.3	-	-	-	-
Change	-	-	-	-	-	-	-
Net income	-	205.6	147.8	172.3	-	-	-
Change	-	-	-28.11%	16.58%	-	-	-
Announcement Date	7/29/21 A	7/28/22 A	3/1/23 A	7/26/23 A	2/9/24 A	8/7/24 A	7/25/25 A

¹EUR in Million

Estimates

Forecast Balance Sheet: PUMA SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	397	334	643	1,039	1,350	1,605	1,575	1,538
Change	-	-15.87%	92.51%	61.59%	29.93%	18.85%	-1.87%	-2.35%
Announcement Date	2/24/21 A	2/23/22 A	3/1/23 A	2/9/24 A	3/12/25 A	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: PUMA SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	151	202.4	263.6	300.4	263	240.9	222.8	226.3
Change	-	34.04%	30.24%	13.96%	-12.45%	-8.4%	-7.53%	1.58%
Free Cash Flow (FCF) ¹	276	257.7	154.7	353.2	431.8	-456.4	180.6	273
Change	-	-6.63%	-39.97%	128.31%	22.25%	-205.71%	139.57%	51.11%
Announcement Date	2/24/21 A	2/23/22 A	3/1/23 A	2/9/24 A	3/12/25 A	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: PUMA SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	9.61%	12.68%	11.8%	11.24%	11.01%	3.8%	5.23%	8.47%
EBIT Margin (%)	4%	8.19%	7.57%	7.23%	7.05%	-2.38%	0.28%	3.89%
EBT Margin (%)	3.1%	7.42%	6.52%	5.56%	5.24%	-5.75%	-1.58%	2.36%
Net margin (%)	1.51%	4.55%	4.18%	3.54%	3.19%	-6.93%	-1.31%	2.12%
FCF margin (%)	5.27%	3.79%	1.83%	4.11%	4.9%	-6.17%	2.52%	3.56%
FCF / Net Income (%)	349.81%	83.24%	43.76%	115.84%	153.34%	88.98%	-191.4%	168.19%
Profitability
ROA	1.74%	5.95%	5.66%	4.55%	4.09%	-7.48%	-1.32%	1.41%
ROE	4.39%	15.73%	15.09%	12.14%	10.47%	-17.98%	-4.76%	5.81%
Financial Health
Leverage (Debt/EBITDA)	0.79x	0.39x	0.64x	1.07x	1.39x	5.7x	4.19x	2.37x
Debt / Free cash flow	1.44x	1.3x	4.16x	2.94x	3.13x	-3.52x	8.72x	5.63x
Capital Intensity
CAPEX / Current Assets (%)	2.88%	2.97%	3.11%	3.49%	2.98%	3.26%	3.1%	2.95%
CAPEX / EBITDA (%)	30.03%	23.46%	26.38%	31.06%	27.09%	85.64%	59.29%	34.89%
CAPEX / FCF (%)	54.71%	78.54%	170.39%	85.05%	60.91%	-52.78%	123.32%	82.9%
Items per share
Cash flow per share ¹	3.496	5.49	6.14	4.361	4.651	-2.471	4.526	3.171
Change	-	57.05%	11.85%	-28.98%	6.65%	-153.12%	283.16%	-29.93%
Dividend per Share ¹	0.16	0.72	0.82	0.82	0.61	-	0.0188	0.1403
Change	-	350%	13.89%	0%	-25.61%	-	-	648.37%
Book Value Per Share ¹	11.52	14.8	16.5	17.04	19	15.27	14.94	15.57
Change	-	28.47%	11.56%	3.25%	11.5%	-19.63%	-2.16%	4.23%
EPS ¹	0.53	2.07	2.36	2.03	1.89	-3.592	-0.6906	0.7806
Change	-	290.57%	14.01%	-13.98%	-6.9%	-290.06%	80.78%	213.04%
Nbr of stocks (in thousands)	149,554	149,584	149,606	149,767	147,676	145,446	145,446	145,446
Announcement Date	2/24/21 A	2/23/22 A	3/1/23 A	2/9/24 A	3/12/25 A	-	-	-