Is Puma stock a buy after the record loss?

It is a classic turnaround setup. Valuation on sales looks modest, but earnings are negative and leverage is not low. One model shows a B grade and Hold, while another rates the company C+ with Sell. If you invest, scale in, require quarterly proof on margins and inventory, and set stop-loss levels.

Why did Puma suspend its dividend?

Management is conserving cash to fund restructuring and growth in direct-to-consumer. After a €643.6m 2025 net loss tied to write-downs and restructuring, keeping cash in the business supports inventory clean-up, store and digital upgrades, and marketing. The board plans to revisit payouts once profitability and free cash flow improve.

What is Puma’s outlook for 2026 and 2027?

The company guided to another loss in 2026 as the reset continues, targeting a recovery in 2027. Success depends on lifting gross margin, reducing inventory days, and improving sell-through, especially in China. Investors should watch quarterly updates for concrete milestones on margin expansion and operating cash flow.

How does Anta Sports’ stake affect Puma?

Anta Sports as the largest shareholder could bring stronger China insights, better local partnerships, and faster product feedback loops. The flip side is potential channel overlap and tougher competition in a key market. For Puma stock, the proof will be sustained price integrity, better sell-through, and brand momentum in Greater China.

Global Market Insights

PUM.DE Stock Today: Record €643.6m Loss, Dividend Scrapped — February 27

ByHuzaifa Zahoor February 27, 2026February 27, 2026

Puma stock is in the spotlight after Puma SE (PUM.DE) posted a record €643.6m 2025 net loss and suspended its dividend. Management flagged another loss in 2026, with a recovery push in 2027 built on restructuring and a direct-to-consumer shift. Investors in Germany are weighing the reset against near-term pressure. Today’s read covers the results, guidance, valuation, and what Anta Sports as largest shareholder could mean for China growth and brand positioning.