Free public teaser · Sportswear stocks comparison annual report
Sportswear sector financial analysis: Nike vs Adidas, Puma and Lululemon in 2024
This free excerpt from the MLA Sportswear Sector Deep-Dive compares four listed sportswear names using official FY2024 filings. The full paid report turns the raw annual-report numbers into a sharper investor read on scale, margin quality, direct-to-consumer momentum, and which business looks strongest after a noisy year for athletic brands.
Nike
- FY2024 revenue
- $51,362m
- YoY
- +0.3%
- Margin
- 44.6% gross margin
- Profit
- $5,700m net income
Adidas
- FY2024 revenue
- €23,683m
- YoY
- +10.5%
- Margin
- 50.8% gross margin
- Profit
- €764m net income
Puma
- FY2024 revenue
- €8,817.2m
- YoY
- +2.5%
- Margin
- 47.4% gross margin
- Profit
- €281.6m net income
Lululemon
- FY2024 revenue
- $10,588.1m
- YoY
- +10.1%
- Margin
- 59.2% gross margin
- Profit
- $1,814.6m net income
Nike vs Adidas financial comparison 2024
Nike remained the scale leader with FY2024 revenue of $51.362 billion, but growth was only 0.3%. Adidas was smaller at €23.683 billion of 2024 net sales, yet its growth rate was much stronger at 10.5%. That contrast is the core investor question: Nike still has unmatched size, while Adidas showed the cleaner rebound year.
Adidas Nike Puma Lululemon revenue 2024
The four-company revenue stack was Nike at $51.362 billion, Adidas at €23.683 billion, Puma at €8.8172 billion, and Lululemon at $10.5881 billion. Currencies are not converted in this teaser, because the goal is to preserve each company's filing presentation and focus on operating trends rather than foreign-exchange noise.
Sportswear stocks comparison annual report takeaways
Profitability separated the group. Lululemon posted the highest gross margin at 59.2% and net income of $1.8146 billion, keeping its premium-growth profile intact. Adidas improved gross margin to 50.8% and swung back to €764 million of net income after a prior-year loss. Puma grew sales 2.5%, but net income fell 7.6% to €281.6 million as operating expenses absorbed much of the gross-profit improvement.
The full MLA report goes beyond this teaser with company-by-company scorecards, direct-to-consumer analysis, margin bridges, and a ranked investor view of which sportswear stock had the best FY2024 filing.