Amer Sports: Fantastic Growth In Arc'Teryx, Trading At Reasonable Multiples
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Gary Alexander33.04K FollowersFollow5ShareSavePlay(11min)CommentsSummaryAmer Sports is initiated at a buy rating as a compelling growth-at-a-reasonable-price play in a battered apparel sector.AS demonstrates robust 30% revenue growth and strong share gains in technical apparel and outdoor performance, with surging sales both domestically and overseas.Arc'Teryx and Salomon drive segment outperformance, with DTC sales and women's categories fueling further upside amid global geographic acceleration.Valuation is attractive at 14.7x FY26 EV/EBITDA, with risks mitigated by diversified brands and resilient execution despite macro headwinds. Robert Way/iStock Editorial via Getty Images The market in 2025 was dominated by the AI trade. Large-cap growth stocks have shot up to unsustainable valuations, and in my view, the core theme that will shape the market in 2026 is rotation: away fromThis article was written byGary Alexander33.04K FollowersFollowWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in AS over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.