Publicação
Fundamental pairs trade of Adidas and PUMA: financial analysis and forecasting
| datacite.subject.fos | Ciências Sociais::Economia e Gestão | pt_PT |
| dc.contributor.advisor | Anjos, Fernando | |
| dc.contributor.author | Terrasson, Chloé Marie | |
| dc.date.accessioned | 2025-08-29T07:16:59Z | |
| dc.date.available | 2025-08-29T07:16:59Z | |
| dc.date.issued | 2025-01-13 | |
| dc.description.abstract | This thesis explores a fundamental pairs trade strategy of adidas and PUMA. Adidas’ volatile unlevered free cash flows, caused by inefficiencies and higher leverage, contrast with PUMA’s stable growth, cost efficiency, and conservative capital structure. Forecasts highlight PUMA’s focus on Emerging Markets and adidas’ reliance on mature markets, providing key insights for the investment proposition. The valuation emphasizes PUMA’s undervaluation and growth potential versus adidas’ overvaluation and higher risk. The long PUMA, short adidas strategy proves robust, offering investors a promising opportunity for risk reduction and relative returns. | pt_PT |
| dc.identifier.tid | 203991397 | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10362/187147 | |
| dc.language.iso | eng | pt_PT |
| dc.relation | UID/ECO/00124/2013 | pt_PT |
| dc.subject | Fundamental pairs trade | pt_PT |
| dc.subject | Adidas | pt_PT |
| dc.subject | PUMA | pt_PT |
| dc.subject | Financial analysis | pt_PT |
| dc.subject | Profitability | pt_PT |
| dc.subject | Cash flow management | pt_PT |
| dc.subject | Capital structure | pt_PT |
| dc.subject | Income statement | pt_PT |
| dc.subject | Balance sheet | pt_PT |
| dc.subject | Company valuation | pt_PT |
| dc.subject | Discounted cash flow | pt_PT |
| dc.subject | Scenario analysis | pt_PT |
| dc.subject | Risk management | pt_PT |
| dc.subject | Investment proposition | pt_PT |
| dc.title | Fundamental pairs trade of Adidas and PUMA: financial analysis and forecasting | pt_PT |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | masterThesis | pt_PT |
| thesis.degree.name | A Work Project, presented as part of the requirements for the Award of a Master’s degree in Finance from the Nova School of Business and Economics | pt_PT |