The world’s largest sports brands grossed tens of billions of dollars from sports equipment and apparel sales in the past years. But as the sales figures increased and reached new highs, their stock values plunged deep below the levels seen in 2021.

According to data presented by SportsLens.com, the combined stock value of Nike, Adidas, and Puma, the world’s top three sports brands, plunged by more than $50bn year-over-year.

Adidas Lost $32B in Stock Value, Almost Double than Nike and Puma Combined

Although all three sports brands have seen their stock prices drop throughout 2022, Adidas has suffered the hardest hit.

Last year, Europe’s largest sportswear manufacturer and the second-largest globally cut its ties with Ye, halting sales of the shoes and apparel line that had brought in billions and pushed up the company’s profit margin for years. As a result, Adidas’ annual apparel sales revenue dropped by 5% to $9.3bn, or back to 2017 levels. The company’s stock price also crashed, wiping off tens of billions of dollars of its market cap.

According to YCharts data, Adidas’ stock value stood at around $117bn in March last year. Over the next six months, this figure dropped to $67.6bn and continued falling. Statistics show the German sportswear producer ended 2022 with $64bn in stock value. Although this figure increased to $84.3bn in the three months of 2023, Adidas still lost $32bn or 27% of its stock value year-over-year, almost double than Nike and Puma combined.

Puma`s Stock Value Plunged 30% Year-over-Year, Nike Saw a 10% Drop

The YCharts data showed Puma also witnessed a double-digit market cap drop last year. Although the world’s third-largest sportswear manufacturer grossed a record $3bn from apparel sales in 2022, its stock price significantly dropped.

In March 2022, Puma’s market cap stood at $12.8bn. By the end of the year, this figure plunged to $8.3bn. After recovering to over $10bn in the first two months of 2023, the stock value of the German sports brand dropped to $8.9bn in March, showing a massive 30% decrease year-over-year.

Nike saw its stock value drop by 10% during this period. Although the US sportswear giant grossed a record $13.5bn from apparel sales last year, its stock value plunged by $13.8bn, falling from $133.7bn in March 2022 to $119.9bn last week.