Amer Sports Inc (AS) is slightly overvalued and Mattel Inc (MAT) is undervalued.
Against our estimates of intrinsic value, MAT trades at the wider discount: a margin of safety of +20%, against -15% for AS.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 12.9% (average of 3 methods) values the shares at $24.00; the price of $27.65 is 15% above that value, and 66% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
Discounting its cash flows at 7.4% (average of 3 methods) values the shares at $16.60; the price of $13.21 is 20% below that value, and 81% of that value comes from beyond year five.
Leak Score 84/100 on 3 of 12 signals
| Metric | AS | MAT |
|---|---|---|
| Verdict | Slightly overvalued | Undervalued |
| Price | $27.65 | $13.21 |
| Intrinsic value | $24.00 | $16.60 |
| Margin of safety | -15% | +20% |
| Leak Score | 27/100 (3/12) | 84/100 (3/12) |
| Market cap | $16.1B | $3.8B |
| Revenue growth, 5 years | 21.8% | 3.1% |
| Operating margin | 12.9% | 8.7% |
| Net margin | 7.3% | 7.8% |
| Return on equity | 8.8% | 20.5% |
| Debt to equity | 0.16 | 1.37 |
| P/E | 28.9x | 9.7x |
| Forward P/E | 16.9x | 8.3x |
| P/B | 2.3x | 1.9x |