Stella International (1836) Q4 2025 earnings summary

Executive summary

• Consolidated revenue for Q4 2025 rose 0.8% year-over-year to US$388.6 million.

• Full-year 2025 consolidated revenue increased 1.5% year-over-year to US$1,567.8 million.

• Footwear manufacturing shipment volumes were flat in Q4 but grew 3.8% for the full year, driven by the Sports segment and new customer demand.

Financial highlights

• Q4 2025 manufacturing revenue was US$378.0 million, up 0.1% year-over-year.

• Full-year 2025 manufacturing revenue reached US$1,523.1 million, a 1.2% increase year-over-year.

• Average selling price (ASP) for footwear declined 0.4% in Q4 and 2.5% for the year due to a higher mix of lower-ASP Sports segment sales.

Outlook and guidance

• New production facilities in Indonesia and the Philippines are scheduled to begin operations in the second half of 2026.

• Experience from recent facility ramp-ups is expected to support future expansion.