Amer Sports, Inc. (AS) Balance Sheet
AS balance sheet, FY2025
September 30, 2025 · U.S. dollars$10.06B assets = $4.24B liabilities + $5.82B equity
Both columns are drawn to the same scale: what AS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AS financial health
Descriptive bands, not a rating. Fiscal FY2025.
AS balance sheet trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $8.62BFY2020 | $10.06BFY2025 | +3.1%/yr | |
| Total liabilities | $8.78BFY2020 | $4.24BFY2025 | −13.5%/yr | |
| Shareholders’ equity | −$152.9MFY2020 | $5.80BFY2025 | — | |
| Cash & short-term investments | $389.5MFY2020 | $652.3MFY2025 | +10.9%/yr | |
| Total debt | $6.99BFY2020 | $1.75BFY2025 | −24.2%/yr | |
| Net cash (debt) | −$6.60BFY2020 | −$1.10BFY2025 | +$5.5B | |
| Working capital | $995.7MFY2020 | $1.09BFY2025 | +$99.1M | |
| Book value per share | −$0.31FY2020 | $10.30FY2025 | — | |
| Current ratio | 1.86FY2020 | 1.50FY2025 | −0.36 | |
| Debt / equity | 165.67FY2021 | 0.30FY2025 | −165.37 | |
| Shares outstanding | 489.5MFY2020 | 563.1MFY2025 | +2.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AS assets
AS liabilities and equity
AS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AS balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $652.3M | $345.4M | $483.4M | $402.0M | $566.7M | $389.5M |
| Cash & equivalents | $652.3M | $345.4M | $483.4M | $402.0M | $566.7M | $389.5M |
| Receivables | $952.3M | $746.7M | $717.0M | $757.9M | $629.7M | $602.9M |
| Inventory | $1.62B | $1.22B | $1.10B | $912.5M | $582.8M | $569.5M |
| Other current assets | $77.3M | $83.9M | $51.7M | $100.3M | $113.1M | $593.7M |
| Total current assets | $3.30B | $2.40B | $2.35B | $2.17B | $1.89B | $2.16B |
| Property, plant & equipment (net) | $1.46B | $1.07B | $719.0M | $545.6M | $580.4M | $653.6M |
| Goodwill & intangible assets | $5.12B | $4.72B | $5.02B | $5.00B | $5.35B | $5.64B |
| Long-term investments | $68.7M | $16.8M | $9.2M | $8.9M | $300,000 | $400,000 |
| Other non-current assets | $110.2M | $128.6M | $275.2M | $169.5M | $126.4M | $168.4M |
| Total assets | $10.06B | $8.34B | $8.37B | $7.90B | $7.95B | $8.62B |
| Liabilities | ||||||
| Accounts payable | $769.8M | $549.0M | $426.5M | $435.6M | $320.2M | $293.0M |
| Short-term debt | $299.9M | $253.4M | $470.4M | $271.8M | $101.3M | $264.2M |
| Deferred revenue | $106.7M | — | $50.7M | $45.9M | $53.0M | $38.2M |
| Total current liabilities | $2.21B | $1.55B | $1.57B | $1.28B | $947.2M | $1.16B |
| Long-term debt | $1.45B | $1.23B | $6.19B | $5.96B | $6.04B | $6.53B |
| Lease obligations | $818.0M | $555.9M | $339.8M | $196.5M | $224.7M | $261.0M |
| Other long-term liabilities | $581.1M | $543.7M | $765.9M | $725.4M | $928.9M | $1.09B |
| Total liabilities | $4.24B | $3.33B | $8.53B | $7.97B | $7.91B | $8.78B |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $18.6M | $18.4M | $642.2M | $642.2M | $640.4M | $640.4M |
| Retained earnings (deficit) | −$213.6M | −$984.9M | −$1.06B | −$848.9M | −$596.2M | −$469.9M |
| Accumulated other comprehensive income | $2.79B | $2.78B | $255.1M | $132.8M | −$6.2M | −$323.4M |
| Minority interest | $18.9M | $9.1M | $3.4M | $0 | — | — |
| Total shareholders' equity | $5.80B | $5.00B | −$160.2M | −$73.9M | $38.0M | −$152.9M |
| Key figures | ||||||
| Total debt | $1.75B | $1.48B | $6.66B | $6.24B | $6.30B | $6.99B |
| Net cash (debt) | −$1.10B | −$1.14B | −$6.18B | −$5.83B | −$5.73B | −$6.60B |
| Working capital | $1.09B | $844.9M | $777.8M | $893.3M | $945.1M | $995.7M |
| Tangible book value | $681.7M | $281.5M | −$5.18B | −$5.07B | −$5.31B | −$5.80B |
| Book value per share | $10.30 | $9.96 | −$0.33 | −$0.15 | $0.08 | −$0.31 |
| Shares outstanding | 563.1M | 501.7M | 489.5M | 489.5M | 489.5M | 489.5M |
| Current ratio | 1.50 | 1.54 | 1.49 | 1.70 | 2.00 | 1.86 |
| Quick ratio | 0.73 | 0.70 | 0.76 | 0.91 | 1.26 | 0.86 |
| Debt / equity | 0.30 | 0.30 | — | — | 165.67 | — |
| Equity / assets | 57.6% | 60.0% | −1.9% | −0.9% | 0.5% | −1.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $720.4M | $683.7M | $652.3M | $353.3M | $303.4M | $422.1M | $345.4M | $312.0M | $255.9M | $337.3M | $483.4M | $284.2M |
| Cash & equivalents | $720.4M | $683.7M | $652.3M | $353.3M | $303.4M | $422.1M | $345.4M | $312.0M | $255.9M | $337.3M | $483.4M | $284.2M |
| Receivables | $656.5M | $723.9M | $952.3M | $1.08B | $478.0M | $561.4M | $746.7M | $897.8M | $695.8M | $731.8M | $717.1M | $676.9M |
| Inventory | $1.90B | $1.69B | $1.62B | $1.71B | $1.60B | $1.27B | $1.22B | $1.34B | $1.24B | $1.10B | $1.10B | $1.20B |
| Other current assets | $199.6M | $222.8M | $77.3M | $23.0M | $198.2M | $193.7M | $83.9M | $0 | $0 | $0 | $51.6M | $201.5M |
| Total current assets | $3.47B | $3.32B | $3.30B | $3.17B | $2.58B | $2.44B | $2.40B | $2.55B | $2.19B | $2.17B | $2.35B | $2.36B |
| Property, plant & equipment (net) | $1.58B | $1.48B | $1.46B | $1.31B | $1.22B | $1.13B | $1.07B | $1.01B | $883.9M | $799.0M | $759.1M | $651.0M |
| Goodwill & intangible assets | $4.99B | $5.03B | $5.12B | $5.07B | $5.07B | $4.80B | $4.72B | $5.03B | $4.95B | $4.97B | $5.02B | $4.95B |
| Long-term investments | $84.6M | $75.3M | $68.7M | $67.2M | $60.6M | $16.9M | $16.8M | $9.0M | $9.0M | $9.1M | $9.2M | $8.8M |
| Other non-current assets | $101.8M | $104.0M | $110.2M | $96.5M | $100.2M | $139.2M | $128.6M | $229.5M | $212.3M | $229.9M | $235.1M | $178.9M |
| Total assets | $10.23B | $10.01B | $10.06B | $9.71B | $9.02B | $8.53B | $8.34B | $8.83B | $8.24B | $8.17B | $8.37B | $8.15B |
| Liabilities | ||||||||||||
| Accounts payable | $750.7M | $672.6M | $769.8M | $564.5M | $529.2M | $457.0M | $549.0M | $482.3M | $454.3M | $387.4M | $426.5M | $389.4M |
| Short-term debt | $326.5M | $309.9M | $299.9M | $501.1M | $411.0M | $259.0M | $253.4M | $394.9M | $133.3M | $99.9M | $470.4M | $456.3M |
| Deferred revenue | $80.1M | $107.9M | $99.3M | $197.2M | — | — | — | $81.4M | $56.4M | $62.5M | $50.7M | $31.2M |
| Total current liabilities | $1.97B | $1.99B | $2.21B | $2.10B | $1.61B | $1.47B | $1.55B | $1.57B | $1.17B | $1.11B | $1.57B | $1.44B |
| Long-term debt | $0 | $0 | $1.45B | $1.37B | $1.31B | $1.28B | $1.23B | $2.39B | $2.01B | $2.02B | $5.94B | $5.80B |
| Lease obligations | $954.2M | $856.1M | $818.0M | $722.6M | $650.3M | $605.7M | $555.9M | $516.6M | $431.5M | $373.7M | $339.8M | $259.4M |
| Other long-term liabilities | $1.37B | $1.26B | $581.1M | $579.4M | $575.2M | $552.6M | $543.7M | $752.2M | $1.05B | $1.02B | $1.02B | $905.5M |
| Total liabilities | $3.34B | $3.25B | $4.24B | $4.04B | $3.50B | $3.30B | $3.33B | $4.72B | $4.23B | $4.15B | $8.53B | $8.14B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $19.5M | $19.4M | $18.6M | $18.5M | $18.5M | $18.5M | $18.4M | $16.9M | $16.9M | $16.9M | $642.2M | $642.2M |
| Retained earnings (deficit) | −$70.7M | −$135.8M | −$213.6M | −$339.0M | −$464.2M | −$780.3M | −$984.9M | −$797.7M | −$941.3M | −$1.05B | −$1.06B | −$811.0M |
| Accumulated other comprehensive income | $2.80B | $2.77B | $2.75B | $2.75B | $2.74B | $2.78B | $2.78B | $2.75B | $2.80B | $2.92B | $255.1M | $172.3M |
| Minority interest | $21.9M | $11.4M | $18.9M | $20.1M | $16.8M | — | — | — | — | — | — | — |
| Total shareholders' equity | $6.87B | $6.74B | $5.80B | $5.65B | $5.51B | $5.22B | $5.00B | $4.10B | $4.01B | $4.02B | −$160.2M | $3.5M |
| Key figures | ||||||||||||
| Total debt | $1.10B | $1.00B | $1.75B | $1.87B | $1.72B | $1.53B | $1.48B | $2.79B | $2.48B | $2.40B | $6.66B | $6.44B |
| Net cash (debt) | −$381.2M | −$317.3M | −$1.10B | −$1.51B | −$1.42B | −$1.11B | −$1.14B | −$2.48B | −$2.22B | −$2.06B | −$6.18B | −$6.15B |
| Working capital | $1.50B | $1.32B | $1.09B | $1.07B | $964.6M | $975.7M | $844.9M | $976.9M | $1.02B | $1.06B | $777.8M | $925.1M |
| Tangible book value | $1.88B | $1.71B | $681.7M | $578.1M | $441.0M | $417.9M | $281.5M | −$924.3M | −$940.2M | −$946.2M | −$5.18B | −$4.94B |
| Book value per share | $11.66 | $11.79 | $10.29 | $10.02 | $9.82 | $9.36 | $9.53 | $8.08 | $7.93 | $8.62 | −$0.33 | $0.01 |
| Shares outstanding | 589.1M | 572.2M | 563.7M | 563.5M | 560.8M | 557.6M | 524.6M | 507.7M | 505.2M | 466.3M | 489.5M | 489.5M |
| Current ratio | 1.76 | 1.66 | 1.50 | 1.51 | 1.60 | 1.66 | 1.54 | 1.62 | 1.87 | 1.96 | 1.49 | 1.64 |
| Quick ratio | 0.70 | 0.71 | 0.73 | 0.69 | 0.48 | 0.67 | 0.70 | 0.77 | 0.81 | 0.97 | 0.76 | 0.67 |
| Debt / equity | 0.16 | 0.15 | 0.30 | 0.33 | 0.31 | 0.29 | 0.30 | 0.68 | 0.62 | 0.60 | — | 1,839.71 |
| Equity / assets | 67.1% | 67.4% | 57.6% | 58.1% | 61.1% | 61.2% | 60.0% | 46.5% | 48.6% | 49.2% | −1.9% | 0.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
AS financial position
At the end of fiscal 2025 (September 30, 2025), Amer Sports had total assets of $10.1 billion (up 20.7% from a year earlier), total liabilities of $4.2 billion and shareholders' equity of $5.8 billion. It held $652.3 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.1 billion. Its current ratio was 1.50. In the latest quarter (ended June 30, 2026) total assets were $10.2 billion and equity $6.9 billion.
Related: AS income statement, AS cash flow statement, AS key metrics. See the AS stock overview for the latest quote and news.
AS balance sheet FAQ
What are Amer Sports's total assets?
Amer Sports reported total assets of $10.1 billion at the end of fiscal 2025 (September 30, 2025), compared with $8.3 billion a year earlier.
How much debt does Amer Sports have?
Amer Sports had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.30.
How much cash does Amer Sports have?
Amer Sports held $652.3 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $1.1 billion.
What is Amer Sports's book value?
Amer Sports's shareholders' equity (book value) was $5.8 billion at the end of fiscal 2025, or $10.30 per share.
What is Amer Sports's current ratio?
Amer Sports had current assets of $3.3 billion and current liabilities of $2.2 billion, a current ratio of 1.50 (it can cover its short-term obligations).
How much goodwill does Amer Sports have?
Amer Sports carried $5.1 billion of goodwill and intangible assets, 50.9% of total assets, at the end of fiscal 2025.