Annual Report 2025

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Lamine Yamal in a red Spain adidas jersey posing in a stadium. (Photo)

35 » Earnings per Share

Basic earnings per share are calculated by dividing the net income from continuing operations attributable to shareholders by the weighted average number of shares outstanding during the year, excluding ordinary shares purchased by adidas and held as treasury shares. If negative earnings per share are reported, according to IAS 33.41, no anti-dilutive effect may be taken into account.

Earnings per share

 

 

Continuing operations

 

Discontinued operations

 

Total

 

 

Year ending Dec. 31, 2025

 

Year ending Dec. 31, 2024

 

Year ending Dec. 31, 2025

 

Year ending Dec. 31, 2024

 

Year ending Dec. 31, 2025

 

Year ending Dec. 31, 2024

Net income from continuing operations (€ in millions)

 

1,377

 

824

 

 

 

 

Net income attributable to non-controlling interests (€ in millions)

 

45

 

68

 

 

 

 

Net income attributable to shareholders (€ in millions)

 

1,332

 

756

 

8

 

8

 

1,340

 

764

Weighted average number of shares

 

178,559,220

 

178,549,084

 

178,559,220

 

178,549,084

 

178,559,220

 

178,549,084

Basic earnings per share (€)

 

7.46

 

4.24

 

0.04

 

0.04

 

7.51

 

4.28

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to shareholders (€ in millions)

 

1,332

 

756

 

8

 

8

 

1,340

 

764

Net income used to determine diluted earnings per share (€ in millions)

 

1,332

 

756

 

8

 

8

 

1,340

 

764

Weighted average number of shares

 

178,559,220

 

178,549,084

 

178,559,220

 

178,549,084

 

178,559,220

 

178,549,084

Dilutive effect of share-based payments

 

6,110

 

14,301

 

6,110

 

14,301

 

6,110

 

14,301

Weighted average number of shares for diluted earnings per share

 

178,565,330

 

178,563,385

 

178,565,330

 

178,563,385

 

178,565,330

 

178,563,385

Diluted earnings per share (€)

 

7.46

 

4.24

 

0.04

 

0.04

 

7.51

 

4.28

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