Hello my dears,

again and again I see here the requests for the largest sporting goods manufacturer in the world

nike $NKE (+2,52 %) .

But let's take a look at who has won the performance race historically. Then we discover a very surprising picture. And we can even discover a tenbagger in the 5-year view. Which would be by far the Japanese sporting goods manufacturer Asics $7936 (+2,49 %) would be.

5-year performance

Asics +1078.79%

Anta +84.53%

Adidas. +27,55%

Nike. +1,72%

The other three manufacturers lag far behind.

$ADS (+2,46 %)
$2020 (+2,07 %)
$NKE (+2,52 %)

But that was in the past, so I have listed the multiples in an Excel file for comparison.

Here I notice that Adidas is ahead in terms of earnings growth, and is therefore even below Nike in terms of the forward P/E ratio. Although the current P/E ratio for Adidas is the highest and would not be a buying argument for many.

I am impressed by the high EBIT margin of the Chinese manufacturer Anta, which has managed to catch up with adidas in terms of profit despite lower sales.

Of course, this immediately raises the question of the working conditions under which production may take place here. But that would probably be a separate topic.

My dears, which is your favorite, perhaps you will now shuffle the cards again. And would anyone have expected this performance from the Japanese, will it perhaps continue here?

Your opinion is very important to me, let's discuss.

Sales of selected competitors of Nike $NKE (+2,52 %) :

Nike(USA): $49.0 billion, -8% in the last quarter compared to the previous year, $NKE (+2,52 %)

Adidas*(Germany): $24.6 billion, +7%, $ADS (+2,46 %)

Lululemon**(USA): $10.2 billion, +9%, $LULU (-1,22 %)

VF Corporation**(USA): $9.9 billion, +2%, $VFC (+4,18 %)

Anta Sports*(China): $9.7 billion, +14%, $2020 (+2,07 %)

Puma*(Germany): $9.3 billion, +0%, $PUM (+0,44 %)

Skechers**(USA): $8.7 billion, +13%, $SKX (+0 %)

New Balance*(USA): $7.8 bn, unlisted

Under Armour*(USA): $5.4 billion, -6%, $UAA (+1,56 %)

Deckers Brands**(USA): $4.6 billion, +17%, $DECK (+2,38 %)

ASICS*(Japan): $4.1 billion , +16%, $7936 (+2,49 %)

Li Ning*(China): $3.9 bn, +2%, $2331 (-2,16 %)

On Holding**(Switzerland): $2.5 billion, +32%, $ONON

Despite all its problems, Nike is still twice as big as Adidas and somewhat as big as its four main competitors (Adidas, Anta Sports, Puma, New Balance) combined. together.

The Nike share is currently in a 60% drawdown (the worst in 25 years) and is roughly at the level of the COVID-19 low in March 2020.

Attractive risk-reward ratio?

Is Nike a buy, hold or sell for you?

*Main competitor

**Competitor in certain segments

Detailed Adidas share analysis $ADS (+2,46 %)

Company portrait

Long-term growth profile

Performance

Ukraine war

The economy

China

Yeezy / Kanye West

Management and strategy

Valuation & recovery

Quarterly figures & forecast

Link: https://www.ideas-magazin.de/2024/ausgabe-272/maerkte/adidas-talsohle-durchschritten/?utm_source=techaktien-instagram&utm_medium=influencer&utm_content=aktie&utm_campaign=ideas-magazin

$NKE (+2,52 %)
$UAA (+1,56 %)
$UA (+2,18 %)
$2020 (+2,07 %)

Hello everyone,

I am currently trying to optimize my portfolio and possibly also to compromise.

Perhaps you have any suggestions or ideas as to what can be improved

I'm currently saving around €1000 a month in my ETFs and another €600 in equities ( $RWE (+2,1 %) I have newly taken up and $KCO (+7,49 %) no longer saved)

I currently have the following in my savings plan

$ANDR (+0,81 %)

I think Andritz is well positioned for the future, especially for the electrification of all possible processes and also in the H2 area, plus a solid dividend of currently €2.5 per share.

$SBMO (-0,76 %)

As an operator and builder of drilling rigs, they will still have a good market in the future

$KO (+0,79 %)

One of my favorite stocks. A secure market environment with an established brand. They have also been regularly increasing their dividend for around 70 years

$RWE (+2,1 %)

The share has suffered massively recently and has a lot of catch-up potential. In addition, there are investments in renewable energies (mainly in the USA) and a secure business model.

$2020 (+2,07 %)

A rather unknown brand that includes FILA. Here too, I think that the South-East Asian market in particular will become more interesting in the future

$SHEL (-0,08 %)

My last energy company in the savings plan. Of the oil companies, Shell has promising strategies for the future and a very positive development

$AIL

High dividend, moderate share price performance

New position (unfortunately with spread)

Diversified Chinese sports textile manufacturer, Fila brand should be well known. Strong growth, strong profitability, margins in line with the industry. Strongly undervalued in my opinion.

Briefly the key figures from my last strategy presentation:

Margins:

- Gross Margin 10Y AVG: 51.01% ⚠️

- Operating Margin 5Y CAGR: -2.6% ⛔️

- FCF Margin: 18.59% ✅️

Profitability:

- Debt / Ebitda: 1.62 ✅️

- ROIC 5Y AVG - WACC 5Y AVG: 21.92% ✅️

- ROA 10Y AVG: 15.93% ✅️

- ROCE 5Y AVG: 30.03% ✅️

Growth:

- Revenue 10Y CAGR: 21.53% ✅️

- EPS 5Y CAGR: 18.75% ✅️

- FCF 5Y CAGR: 32% ✅️

- Dividend 5Y CAGR: 8.55% ✅️

Part of Part 2 of the strategy:

Morningstar MOAT: Narrow 👍

Morningstar ESG: 4/5👍

GF Profitability Rank: 10/10 ✅️

FCF/Share 5Y CAGR: 24.08% ✅️

EVALUATION: (comes in detail in part 3 of my strategy presentation).

FCF Yield 4.88% > 5Y AVG 3.38% ✅️

FCF Yield > 10Y Treasury and S&P500 Earnings Yield ✅️

SMA200 Distance: -15.79% ✅️

Gurufocus Fair Value Distance -37% significantly undervalued ✅️

Morningstar Fair Value Distance -30% Significantly undervalued ✅️

Past FCF CAGR vs. future market implied cagr: difference 37.28% (own model) ✅️

Irgendson hinterweltler has made here horny DD. Should probably times Nike and Adidas displace LUL, as if... Anyway, just watch.

Chinese sporting goods manufacturer and retailer.

Growing almost twice as fast as Adidas and Nike.

Aggressively acquires brands such as FILA and WILSON.

Sales doubled compared to last (Corona) year.

Profit growth 55%

Against the background of increasing self-confidence, especially among young Chinese, I think that local brands are increasingly preferred in China.

If you know the power of local fashion labels in China that no one has ever heard of here, such as Metersbonwe, then there should still be a lot of growth potential.

As for all sporting goods manufacturers, the Olympics are additional boosters and the 2022 Winter Olympics will take place in Beijing, our own country.

Problem China stocks: I see far less regulation in the sporting goods sector, as it is all about simple consumption, with hardly any sensitive data collection or monopolies being created in this area. Nevertheless, I have only built up a small position for the time being.