$MC (+0,95 %)
$MBG (+0,73 %)
$ULVR (+0,73 %)
$PYPL (+3,79 %)
$NBIS (-14,2 %)
$SPGI (+1,31 %)
$UPS (+0,3 %)
$KO (+1,36 %)
$GLW (-7,53 %)
$BA (+0,52 %)
$KER (+0,74 %)
$ENPH (-5,62 %)
$NXPI (-1,97 %)
$STX (-7,42 %)
$BE (-14,32 %)
$V (+1,14 %)
$MDLZ (+0,47 %)
$000660
$P911 (-3,5 %)
$BN (+1,93 %)
$RMS (+0,11 %)
$BAS (-0,26 %)
$AG1 (+1,28 %)
$LMND (-0,28 %)
$SOFI (-1,17 %)
$NDX1 (-1,16 %)
$TER (-6,82 %)
$GD (+1,97 %)
$APH (-2,39 %)
$AIR (+0,47 %)
$SBUX (+0,51 %)
$CMG (-0,45 %)
$META (-1,77 %)
$FTNT (+1,26 %)
$QCOM (-2,91 %)
$LRCX (-6,1 %)
$HOOD (-6,78 %)
$ARM (-11,76 %)
$MSFT (-0,01 %)
$CVNA (+0,4 %)
$005930
$SU (-0,63 %)
$INGA (+1,01 %)
$OR (+0,62 %)
$BMW (-0,33 %)
$BATS (+1,59 %)
$MA (+1,59 %)
$ADS (+1,19 %)
$SHEL (+0,52 %)
$RACE (+0,48 %)
$RDDT (-0,67 %)
$TEM (-6,85 %)
$COIN (-2,33 %)
$AAPL (+4,07 %)
$AMZN (-1,07 %)
$CCO (-1,72 %)
$LIN (+0,99 %)
$ABBV (+0,69 %)
$PUM (+2,06 %)
$HAG (+0,38 %)
$XOM (+0,09 %)
$CVX (+0,13 %)
Adidas
Price
Discussion sur ADS
Postes
131Quarterly Results: July 27–July 31, 26
After more than a month, it's back in the black
$RHM (+1,35 %) It has reached a stable position, but will not be funded for the time being. Thanks to $MNST (+0,05 %) , $BAC (+1,16 %) and $ADS (+1,19 %) the loss has been manageable given the size of the portfolio. For me, the future still lies more in consumer stocks, as well as expanding my ETF holdings.
Who knows what other great ideas I’ll come up with for these speculative stocks :D
Top News Stories from the Past Week
As we do every Sunday, here are the top news stories from the past week:
Monday:
Elon Musk may have raked in billions from SpaceX’s $SPCX (-2,45 %) SpaceX, but apparently the money isn’t enough for his AI ambitions, so he’s launching a $20 billion bond program. This isn’t going over well with SpaceX investors. The bonds are expected to yield about 5–6% interest.
Tuesday:
DB has once again outdone itself and hit an all-time low. For hours overnight, no trains ran in Germany. Other former state-owned corporations, such as $DHLGY (+1,06 %) Deutsche Post (DHL) or $DTE (+2,16 %) Deutsche Telekom, do not face comparable problems. Perhaps we should consider further privatization of DB or follow the Swiss model (where local municipalities also have a say at the regional level).
https://www.tagesschau.de/wirtschaft/unternehmen/deutsche-bahn-stoerung-zugfunk-100.html
Wednesday:
$ADS (+1,19 %) Adidas is reportedly selling three times as many DFB jerseys as it did in Qatar in 2022. This may be partly because people can now actually wear the DFB jersey. The switch to $NKE (+1,64 %) Nike could also be a factor.
$VOW3 (-1,73 %) Volkswagen is selling a majority stake in Everllance to Bain, reaping billions in the process. Everllance has so far been carried on the balance sheet at a value significantly below its market value, which is likely to result in an extraordinary profit of several billion.
Thursday:
$BAYN (-0,34 %) Bayer appears to have pulled off a major victory. The agricultural and pharmaceutical company won its case before the U.S. Supreme Court. The court ruled that regulations set by federal agencies take precedence over state laws. As a result, thousands of lawsuits alleging insufficient cancer warnings have lost their legal basis.
Quarterly figures 27.04-01.05.26
$VZ (+5,44 %)
$DPZ (+2,1 %)
$CDNS (-1,22 %)
$BARC (+0,6 %)
$SPOT (+2,85 %)
$BP. (-0,07 %)
$SPGI (+1,31 %)
$KO (+1,36 %)
$UPS (+0,3 %)
$AIR (+0,47 %)
$SBUX (+0,51 %)
$ENPH (-5,62 %)
$NXPI (-1,97 %)
$STX (-7,42 %)
$BE (-14,32 %)
$V (+1,14 %)
$MDLZ (+0,47 %)
$HOOD (-6,78 %)
$MBG (+0,73 %)
$UBSG (+0,22 %)
$DBK (+1,2 %)
$LMND (-0,28 %)
$SOFI (-1,17 %)
$TER (-6,82 %)
$ADS (+1,19 %)
$ABBV (+0,69 %)
$G24 (+1,45 %)
$WM (+1,2 %)
$APH (-2,39 %)
$CMG (-0,45 %)
$GOOG (+0,1 %)
$META (-1,77 %)
$MSFT (-0,01 %)
$AMZN (-1,07 %)
$005930
$BAS (-0,26 %)
$SU (-0,63 %)
$INGA (+1,01 %)
$ULVR (+0,73 %)
$IDR (-2,14 %)
$DHL (+0,96 %)
$CAT (-0,81 %)
$MA (+1,59 %)
$PUM (+2,06 %)
$MRK (+0,56 %)
$CNHI (+5,14 %)
$LLY (+1,24 %)
$FSLR (-1,66 %)
$WDC (-7,58 %)
$RBLX (+0,24 %)
$RDDT (-0,67 %)
$SNDK (-11,23 %)
$AAPL (+4,07 %)
$TWLO (+3,52 %)
$EL (+0,53 %)
$CL (+1,32 %)
$XOM (+0,09 %)
$CVX (+0,13 %)
Mercedes could hurt...
Strong dividend season ahead💶
15 increases
13 unchanged
7 reductions
Insurance companies
Banks
Utilities
Car stocks
Type here if you like collecting dividends: https://shorturl.at/83W8R
$MBG (+0,73 %)
$ALV (+0,7 %)
$VOW3 (-1,73 %)
$MUV2 (+0,73 %)
$BMW (-0,33 %)
$AIR (+0,47 %)
$CBK (+0,81 %)
$523232
$DTG (-0,25 %)
$DHL (+0,96 %)
$FME (+0,62 %)
$FRE (+2,48 %)
$HNR1 (+1,29 %)
$MTX (+1,56 %)
$RHM (+1,35 %)
$SAP (+7,53 %)
$ENR (-0,29 %)
$BAS (-0,26 %)
$BAYN (-0,34 %)
$BEI (+0,14 %)
$DBK (+1,2 %)
$DTE (+2,16 %)
$EOAN (-0,17 %)
$GEA (-2,3 %)
$IFX (-3,16 %)
$RWE (-0,53 %)
$SY1 (+1,47 %)
$ZAL (+0,41 %)
$ADS (+1,19 %)
$BNR (-0,82 %)
$HEN (+0,29 %)
$MRK (+0,56 %)
$SIE (+1,02 %)
$SHL (+3,11 %)
New purchase
$ADS (+1,19 %) at a 3-year low.
Here's Raketentoni from the test pit again! 🔧 You've stung the wasp's nest of the day. Adidas ($ADS) is currently trading at just under 137 euros and has taken a real beating today (early March 2026) - down almost 8% in one day.
I drove the car straight onto the lifting platform. Here's the TÜV report and my honest opinion on why it's crashing and whether we should unpack the landing net now.
1. why the deluge? (The list of defects)
There are two very specific reasons for the crash:
The outlook for 2026 is disappointing: CEO Bjørn Gulden finished 2025 strongly, but only forecast an operating profit of around €2.3 billion for 2026. Analysts had expected over 2.7 billion.
The Trump shock (tariffs & currencies): Adidas expects extreme headwinds of almost 400 million euros this year, primarily due to new US tariffs and unfavorable exchange rates. Added to this is tough competitive pressure from hype brands such as On and Asics. The market is mercilessly pricing in this uncertainty.
2. the reality check (formula test)
Let's take out the emotions and run the hard 2025 figures (sales of 24.8 billion euros, operating profit of 2.05 billion euros) through my filters:
Core Quality Formula:
Sales growth: currency-adjusted growth was a strong 13% in 2025.
Operating margin: Although this has improved, it is only 8.3%.
My score: 13 (growth) + 8.3 (margin) = 21.3.
Verdict: "Solid". The magic threshold of 25 for top quality is still not reached. The turnaround is underway, but we are not yet talking about a highly profitable money-making machine.
Cash flow & valuation (substance):
The cash flow is basically right (Adidas is just starting a €1bn share buyback program), but the valuation is not yet an absolute bargain for the current margin level.
The P/E ratio based on 2025 earnings is around 17 to 18.
At just under 1.0, the P/E ratio (price-sales) is historically favorable, but reflects the low margins.
3. the dividend check (income core)
Adidas falls completely through the cracks here:
Yield: they may have raised the dividend for 2025 to 2.00 euros, but at the current share price of around 137 euros, that's just ~1.45% dividend yield.
Verdict: My hard minimum requirement of 3.5% is miles away. The exception rule (low dividend okay with high growth and extremely strong balance sheet) does not apply to me here, as earnings growth will be massively slowed by the tariffs in 2026.
Conclusion & strategy
Is this a buy at the moment?
I don't currently have a TÜV sticker for a new purchase. 🛑
Adidas is not a "story without substance" (the exclusion rule does not fully apply as the margin is > 5% and sales growth is intact), but it does not meet the elite values of my core formula or even come close to the requirements for the income portfolio.
If you want to play the turnaround under Gulden, buy a bet here that the tariffs will not be as bad as feared. For my own money, however, I won't go for a falling knife with a single-digit margin.
Greetings,
Raketentoni 🚀
Key figures for your data sheet (price ~137 EUR):
Price-Earnings Ratio (P/E): ~17.5
Price-cash flow ratio (KCV): ~12
Price-sales ratio (KUV): ~1.0
Price-Book Value Ratio (P/BV): ~4.5
Dividend Yield: ~1.45
Quarterly figures 02.03-06.03.26
$KSPI (+0,53 %)
$NCLH (+3,4 %)
$STNE (-1,98 %)
$BEI (+0,14 %)
$SE (+1,03 %)
$ONON (+2,04 %)
$TGT (+0,68 %)
$GTLB (+2,51 %)
$CRWD (+0,44 %)
$BAYN (-0,34 %)
$WIX (+5,59 %)
$ADS (+1,19 %)
$AVGO (-2,79 %)
$DHL (+0,96 %)
$R3NK (-0,29 %)
$JD (+0,38 %)
$BILI (-1,62 %)
$1913 (-2,38 %)
$MRK (-0,47 %)
$MRVL (-8,41 %)
$GPS (+1,21 %)
$COST (+0,79 %)
$IOT (+5,05 %)
$LHA (+1,98 %)
PUMA after the recent rises - first all-clear?
After the heavy volatility of recent weeks, the PUMA share is finally showing strength again. The recent price increase is not only technical, but also has a fundamental tailwind.
The entry of Anta Sports as a new major shareholder (~29%) has restored confidence in the market. Even though it has been clearly communicated that no complete takeover is planned, the deal provides stability, imagination and strategic options - exactly what the share has been lacking recently.
From a technical perspective, PUMA was able to break away from the low and recapture important resistance levels. Momentum is clearly positive in the short term, even if the share is likely to remain volatile.
⚠️ What remains important:
PUMA is still in the midst of operational restructuring. The turnaround is not a foregone conclusion, but the market seems to be ready to award advance praise again.
Titres populaires
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