Q4 loss at PUMA (PUM.DE, XETRA) 26 Feb 2026: implications for PUM.DE stock
PUM.DE stock closed at €23.22 on XETRA after PUMA reported a Q4 net loss and the board proposed no dividend on 26 Feb 2026. The report showed a Q4 loss of €336.60 million and an FY25 net loss near €644.00 million. Investors must weigh the reset actions, the new 2026 guidance, and the recent stake sale by ANTA when judging near-term upside and downside.
Earnings snapshot: Q4 results and 2026 guidance
PUMA reported a Q4 loss of €336.60 million and adjusted Q4 EBIT of -€229.00 million. For full-year 2025 reported EBIT was -€357.00 million and loss from continuing operations was about €644.00 million. Management flagged 2026 as a transition year and guided reported EBIT between -€50.00 million and -€150.00 million, citing lower one-time costs and improved margin mix StockAnalysis.
PUM.DE stock: financials and valuation
PUMA trades at €23.22 with market cap €3.33 billion and EPS -€1.92. Key ratios: PE -11.78, P/S 0.40, P/B 1.62, dividend per share €0.61 (yield 2.70%). Enterprise value is about €5.78 billion, and net debt metrics show leverage pressure (debt to equity 1.31). Compared with the Consumer Cyclical peer average PE 25.62, PUMA appears deeply discounted on sales but carries profit and cash flow risk.
Operational reset and strategic priorities
Management said the 2025 reset tightened distribution and reduced mass‑merchant exposure to rebuild brand value. Direct‑to‑consumer mix rose to 41.10% of Q4 sales. Cost and structure moves include headcount reductions and EUR 102.00 million in personnel restructuring charges. These steps aim to restore margins by 2027 but press short‑term revenues and cash flow.
Market reaction and technical picture
Shares closed at €23.22 after trading between €22.60 and €23.42 on volume 538,144 versus average 1,206,991. Technicals show RSI 49.25, MACD histogram -0.10, and ATR 1.15, indicating limited momentum and elevated volatility. The stock spiked earlier on Anta stake reports, but recent earnings and the dividend halt drove selling and higher intraday swings Bloomberg JP.
Meyka AI rates PUM.DE with a score out of 100
Meyka AI rates PUM.DE with a score of 61.64 out of 100 — Grade B, Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Note third‑party company ratings show a recent C+ / Sell view on fundamentals and DCF divergence, so consensus is mixed. See the full Meyka data on the Meyka PUM.DE page.
Forecasts and price targets for PUM.DE stock
Meyka AI’s forecast model projects a 1‑month price of €19.73, implying -15.02% from the current €23.22. We set a conservative near‑term floor at €15.30 (year low) and a medium‑term base target of €28.00, which implies +20.59% upside. These targets reflect inventory cleanup, margin recovery in 2026, and the strategic impact of ANTA’s stake. Forecasts are model‑based projections and not guarantees.
Final Thoughts
Key takeaways on PUM.DE stock: PUMA’s Q4 and FY25 results show material near‑term pain, with a reported FY25 loss near €644.00 million, negative operating cash flow, and no dividend proposed for 2025. The company’s reset reduced discounting and mass‑merchant exposure, and DTC share rose to 41.10%, which supports margin recovery expectations. Meyka AI rates PUM.DE 61.64/100 (Grade B, HOLD) while flagging leverage and low interest coverage as key risks. Our forecast model projects €19.73 in one month, an implied downside of -15.02%, and a medium‑term target of €28.00 if execution and margins improve. Investors should treat 2026 as a transition year, compare PUMA to Consumer Cyclical peers, and watch working capital, gross margin trends, and how the ANTA stake affects Greater China wholesale. Forecasts are model‑based projections and not guarantees, and this analysis is informational, not investment advice. Meyka AI is an AI‑powered market analysis platform providing real‑time data and proprietary grades to help investors assess risk and opportunity.
FAQs
What drove the PUM.DE stock decline after the Q4 report?
PUM.DE stock fell after PUMA reported a Q4 net loss of €336.60 million, sharply lower margins, and management proposed no dividend for 2025. The reset reduced wholesale sales and raised short‑term working capital, pressuring cash flow.
What is Meyka AI’s outlook for PUM.DE stock in the near term?
Meyka AI’s forecast model projects a 1‑month price of €19.73, implying -15.02% from €23.22. The model flags execution risk but notes a medium‑term recovery scenario tied to margin improvement.
How should investors weigh the ANTA stake news for PUM.DE stock?
ANTA’s 29% stake adds strategic capital and potential China distribution benefits. It may cause short‑term uncertainty in Greater China wholesale, but the stake could support long‑term partnerships and scale if PUMA stabilises margins.
What valuation and risks matter most for PUM.DE stock now?
Key valuation metrics: PE -11.78, P/S 0.40, P/B 1.62, EV €5.78 billion. Main risks are persistent losses, high working capital, leverage (debt/equity 1.31), and slower-than-expected margin recovery.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.