October 2026
Largest Sports & Leisure Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
adidas, Puma, Knaus Tabbert, Fit Group and Ming Le Sports.
 | adidas is a German sportswear company headquartered in Herzogenaurach, Bavaria, and the largest sportswear manufacturer in Europe and second-largest in the world after Nike. Its roots go back to July 1924, when Adolf 'Adi' Dassler and his brother Rudolf formed the Gebrüder Dassler Schuhfabrik; after the brothers split, Adi registered adidas on 18 August 1949 while Rudolf founded the business that became Puma. The company designs and markets athletic and lifestyle footwear, apparel and accessories under the adidas brand and its three-stripes mark, selling them through wholesale partners, its own stores and e-commerce. It sponsors athletes, clubs and national teams and has a long association with the FIFA World Cup. adidas bought Reebok for $3.8 billion in 2005–06 and sold it to Authentic Brands Group in 2022 for about $2.5 billion, and it owns an 8.33% stake in FC Bayern Munich. In 2025 the group reported net sales of €24,811 million and employed 64,938 people worldwide. Bjørn Gulden has been chief executive since January 2023. | $163 | -14% | $28B | $34B | 1.2x | 9.6x | ||
| Puma designs and markets footwear, apparel, and accessories under its own name and golf clubs and golf accessories under the Cobra Golf name. Footwear (56% of 2025 sales) is its largest category, followed by apparel (32%) and accessories (12%). Puma also licenses its name for fragrances, eyewear, and watches. Most of its sales are through wholesale partners (68% of 2025 sales), with the rest through approximately 1,000 owned retail and outlet stores and online channels. The company's products are sold in Europe, the Middle East, and Africa (43% of 2025 sales), the Americas (35%), and Asia-Pacific (22%). China-based competitor Anta is in the process of acquiring 29% of Puma’s outstanding shares. | $25 | +17% | $3.7B | $6.3B | 0.8x | (173.3x) | ||
| Knaus Tabbert AG is engaged in the business of manufacturing motorhomes, caravans, and camper vans (CUV) in Europe. The company sells its products under brands, Knaus, Tabbert, Weinsberg, and Morelo. Its operating segment includes Premium and Luxury. It generates maximum revenue from the Premium segment. Geographically, it derives a majority of its revenue from Germany. | $11 | -37% | $113M | $431M | 0.4x | 20.3x | ||
| Fit Group AG is focused on building brands in the growing health, performance, and nutrition market. It operates in two brands, FGN and FITGUN. FGN stands for laboratory-tested, natural dietary supplements and addresses a health-oriented target group with high-quality standards. FITGUN focuses on products in the field of regeneration and performance, and is aimed at ambitious individuals, Athletes, sportsmen, and active people. | $40 | -- | $63M | $63M | 39.4x | (32.2x) | ||
| Ming Le Sports AG operates as an investment company. It mainly invests in corporations and partnerships, based on attractive risk-reward profiles. | $1 | +33% | $2M | $1M | 439.3x | (2.8x) | ||
| Median | $25 | +2% | $113M | $431M | 1.2x | (2.8x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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