Amer Sports (AS) Is Up 9.4% After China-Led Premium Growth Beats Expectations - Has The Bull Case Changed?

• Amer Sports recently reported strong earnings that highlighted robust revenue and profit growth across all regions, powered by premium brands such as Arc’teryx, Salomon, and Wilson and a fast-growing direct-to-consumer footprint, particularly in Greater China and Asia-Pacific.
• An interesting angle is how Amer Sports has evolved into a China-focused premium sportswear platform, with Greater China contributing nearly 30% of revenue, supported by Anta Sports’ significant ownership stake and access to local retail and policy networks.
• We’ll now look at how this China-led growth and premium brand momentum may influence Amer Sports’ broader investment narrative.

This technology could replace computers: discover 27 stocks that are working to make quantum computing a reality.

Amer Sports Investment Narrative Recap

To own Amer Sports, you need to believe its China-led, premium outdoor and sportswear platform can sustain growth while managing rising concentration risk and high expectations embedded in a rich valuation. The latest earnings beat and guidance uplift reinforce the near term growth catalyst around Arc’teryx, Salomon and Wilson’s direct-to-consumer push, but they do not remove the key risk that a slowdown or disruption in Greater China and Asia-Pacific could weigh disproportionately on future performance.

The most relevant recent announcement here is Amer Sports’ Q3 2025 results, with sales rising to US$1,756.3 million and net income to US$143.1 million, alongside upgraded full year 2025 guidance for 23 percent to 24 percent revenue growth and higher EPS. This combination of strong reported numbers and higher guidance ties directly into the central catalyst of premium brand expansion and DTC growth, while also raising the stakes if regional momentum, especially in Greater China, starts to fade.

Yet behind the upbeat growth story, investors should be aware of how much now hinges on Greater China exposure and...

Read the full narrative on Amer Sports (it's free!)

Amer Sports' narrative projects $8.9 billion revenue and $874.0 million earnings by 2028. This requires 16.1% yearly revenue growth and a roughly $650 million earnings increase from $224.0 million today.

Uncover how Amer Sports' forecasts yield a $46.38 fair value, a 18% upside to its current price.

Exploring Other Perspectives

Six fair value estimates from the Simply Wall St Community range from US$14.38 to US$46.75, underscoring how far apart individual views can be. Against that backdrop, Amer Sports’ heavy reliance on China and Asia-Pacific for growth raises important questions about how regional volatility could influence the business over time, so it is worth comparing several of these viewpoints before deciding how you see the story.

Explore 6 other fair value estimates on Amer Sports - why the stock might be worth as much as 19% more than the current price!

Build Your Own Amer Sports Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Amer Sports research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free Amer Sports research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Amer Sports' overall financial health at a glance.

No Opportunity In Amer Sports?

Right now could be the best entry point. These picks are fresh from our daily scans. Don't delay:

• AI is about to change healthcare. These 30 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.
• Uncover the next big thing with financially sound penny stocks that balance risk and reward.
• Outshine the giants: these 25 early-stage AI stocks could fund your retirement.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com