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Under Armour, Inc.

UA Consumer Cyclical Apparel Manufacturing

Under Armour, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $5.0 billion, down 3.83% from fiscal 2025. In the quarter to June 2026, revenue fell 3.19%, EPS grew 121.3%, free cash flow grew 600.8% and total debt fell 40.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

4.85 0.03 −0.61%
Market cap
$2.1B
P/E
0.0×
Fwd P/E
—
Dividend yield
—
F-score
2/9
Altman Z
1.85
Beneish M
−3.03
Dividend safety
n/a
Overview Business Profile Financial Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions trades per month

Total buys 224.93
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — 2 3 — — — 1 — — 1 — —
Sell — — — — — — — — — — — —
Insider Ownership 74.01%

Capital & Financial Ratios $m

Market Cap 2,130.00
Revenue 4,930.23
Net Income (492.49)
Free Cash Flow (81.12)
Net Debt 195.18
Current Ratio 1.81 (at or above 1.5: strong)
Debt/Equity 0.41 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E —
P/S ratio 0.42
P/B ratio 1.45
Past 5Y EPS Growth —
This Y EPS Growth (10.92%) (below 0%: weak)
Next Y EPS Growth 74.09% (at or above 15%: strong)
Next Y revenue growth —
Next 5Y EPS Growth 39.09% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 1.2×; over the ten years it ranged from 0.4× in 2025 to 9.4× in 2016.
P/S against its own 10 years 4.96%
10-year low 10-year high
P/B against its own 10 years 12.57%
10-year low 10-year high
EV/Sales against its own 10 years 27.10%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 859 501 915 396
Receivables 757 676 682 646
Inventory 958 946 915 1,109
Other — — — —
2,864 2,329 2,719 2,369
2024 2025 2026 Q'26
Payables 484 430 420 669
ST’ Debt 81 — 600 —
Other 174 200 172 177
1,165 1,109 1,677 1,309

Compound Annual Growth %

10y 5y 3y
Sales 0.27% (2.66%) (5.36%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (3.49%) (3.94%) (10.88%)

Earnings Trends EPS, adjusted, against the consensus

Q4 FY21 Estimate 0.04 Actual 0.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY19 −0.09 −0.08 Beat by 0.01
Q1 FY20 −0.04 −0.04 Met by 0.00
Q3 FY20 0.11 0.10 Miss by 0.01
Q4 FY21 0.04 0.16 Beat by 0.12

EPS $

Jun Sep Dec Mar Year
’26 0.00 — — — —
’26 (0.01) (0.04) (1.01) (0.10) (1.16)
’25 (0.70) 0.39 0.00 (0.16) (0.47)
’24 — — — 0.01 0.52
’23 0.02 0.24 0.25 — 0.84
’23 0.02 0.19 0.27 (0.13) 0.84
’21 0.13 0.24 0.23 0.17 0.75
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 1,098 — — — —
’26 1,134 1,333 1,328 1,171 4,966
’25 1,184 1,399 1,401 1,181 5,164
’24 — — — 1,332 5,702
’23 1,317 1,567 1,486 — 5,859
’23 1,349 1,574 1,582 1,301 5,903
’21 1,352 1,546 1,528 1,257 5,683
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 109 — — — —
’26 49 (70) 278 (332) (75)
’25 153 (321) 311 (202) (59)
’24 — — — (123) 354
’23 (6) 61 421 — (10)
’23 87 (90) 77 (321) (40)
’21 253 108 455 (151) 661
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 95 — — — —
’26 13 (90) 262 (347) (162)
’25 107 (367) 263 (231) (228)
’24 — — — (157) 204
’23 (39) 19 380 — (10)
’23 52 (148) 23 (361) (198)
’21 234 78 443 (158) 596
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Price, $
Price, $ Low 10.36 11.41 15.06 6.37 14.62 5.74 5.86 6.02 3.95 4.16 (9.6%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 27.64 23.28 24.55 19.43 23.00 18.65 11.42 10.62 7.85 7.91 (13.0%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 15,800 15,000 16,400 16,600 17,500 — 15,000 15,000 14,400 14,100 (1.3%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.32 0.35 0.32 0.27 0.32 — 0.00 0.38 0.36 0.35 +1.2% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 4,989 5,193 5,267 4,475 5,683 — 5,859 5,702 5,164 4,966 (0.1%) — — — —
Gross margin, % 45.13 45.07 46.90 48.27 50.34 — 44.39 46.13 47.92 45.48 +0.4 pt
EBT (10) (68) 210 (493) 380 — 288 262 (205) (201) +39.1%
EBT margin, % (0.21) (1.31) 3.98 (11.01) 6.69 — 4.92 4.60 (3.96) (4.04) (3.8) pt
Net income (48) (46) 92 (549) 351 0 387 232 (201) (496) +29.5%
Depreciation 174 182 187 177 158 — 138 145 138 112 (4.7%)
Per share, $
Per share, $ Revenue 11.32 11.65 11.68 9.85 12.21 — 12.99 12.95 11.95 11.64 +0.3%
Earnings (0.11) (0.10) 0.20 (1.21) 0.75 — 0.84 0.53 (0.47) (1.16) +30.0%
Cash flow 0.54 1.41 1.13 0.47 1.42 — (0.02) 0.80 (0.14) (0.18) n/m
Capex (0.64) (0.36) (0.32) (0.20) (0.14) — 0.00 (0.34) (0.39) (0.20) (11.9%)
Free cash flow (0.10) 1.05 0.81 0.27 1.28 — (0.02) 0.46 (0.53) (0.38) +16.0%
Book value 4.58 4.52 4.77 3.69 4.49 0.00 4.43 4.89 4.37 3.32 (3.5%)
Shares, m 441 446 451 454 466 — 451 440 432 427 (0.4%)
Valuation, ×
Valuation, × P/E 0.00 0.00 91.33 0.00 23.43 — 9.04 12.88 0.00 0.00 15.2
P/S 1.23 1.39 1.64 1.51 1.51 — 0.62 0.54 0.50 0.50 1.0
P/B 3.05 3.57 4.02 4.04 4.11 — 1.66 1.44 1.36 1.75 2.8
EV/Sales 1.36 1.42 1.63 1.62 1.48 — 0.56 0.51 0.53 0.55 1.1
EV/FCF (40.19) 16.96 36.12 (26.10) 14.10 — 13.73 14.28 (12.05) (16.93) 0.0
Cash, $m
Cash, $m Operating cash flow 237 628 509 213 661 — (10) 354 (59) (75) n/m
Capex (281) (159) (146) (92) (65) — (188) (150) (169) (87) (12.2%)
Free cash flow (44) 469 363 121 596 — (10) 204 (228) (162) +15.6%
Balance, $m
Balance, $m Working capital 1,277 1,278 1,280 1,810 1,886 1,534 1,603 1,698 1,220 1,042 (2.2%)
Total debt 917 729 719 1,167 802 672 1,521 676 595 1,190 +2.9%
Net debt 605 171 (69) (351) (868) (337) 793 (183) 94 276 (8.3%)
Shareholders’ equity 2,019 2,017 2,150 1,676 2,089 1,729 1,998 2,153 1,890 1,414 (3.9%)
Returns, %
Returns, % ROA (1.26) (1.12) 2.03 (11.12) 7.00 0.00 7.99 4.83 (4.44) (11.37) (10.1) pt
ROIC 0.66 (0.71) 7.11 (28.93) 24.33 0.00 0.00 7.29 (5.83) (6.03) (6.7) pt
ROE (2.38) (2.29) 4.42 (28.71) 18.65 0.00 19.53 11.18 (9.95) (30.00) (27.6) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026 · fundamentals updated 28 Sep 2026

Under Armour, Inc. vs peers in Apparel Manufacturing (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VFC V.F. Corporation $7.2B 25.7× 15.6× −5.18% (below 0%: shrinking) n/m +50.99% (above 0%: growing) 54.93% (4.98%) Compare
ZGN Ermenegildo Zegna N.V. $5.7B — (loss-making) 32.1× — n/m +56.38% (above 0%: growing) 55.40% 0.00% Compare
KTB Kontoor Brands, Inc. $4.1B 15.3× 13.9× −11.24% (below 0%: shrinking) −11.28% (below 0%: shrinking) +104.36% (above 0%: growing) 56.18% 15.49% Compare
PVH PVH Corp. $4.1B — (loss-making) 14.2× −3.24% (below 0%: shrinking) n/m +111.16% (above 0%: growing) 63.03% (9.10%) Compare
FIGS FIGS, Inc. $3.6B 57.6× 55.2× +28.81% (above 0%: growing) +325.00% (above 0%: growing) +427.35% (above 0%: growing) 75.20% 17.93% Compare
COLM Columbia Sportswear Company $3.3B 17.4× 13.1× +1.51% (above 0%: growing) n/m +324.26% (above 0%: growing) 58.34% 5.03% Compare
UA Under Armour, Inc. $2.1B — (loss-making) — −3.19% (below 0%: shrinking) n/m +600.79% (above 0%: growing) 54.09% 4.26%
UAA Under Armour, Inc. $2.1B — (loss-making) 435× −3.19% (below 0%: shrinking) n/m +600.79% (above 0%: growing) 54.09% 4.26% Compare
GIII G-III Apparel Group, LTD. $1.3B 9.4× 7.2× −9.65% (below 0%: shrinking) +84.62% (above 0%: growing) +165.05% (above 0%: growing) 45.19% 1.95% Compare
Median of peers $3.8B 17.4× 14.9× −3.24% +84.62% +138.11% 55.79% 3.11%

All 23 Apparel Manufacturing stocks →

Pay and ownership Proxy statement filed 15 July 2026

Ownership

Directors and executive officers, together 64.70% of the votes
Kevin A. Plank 64.60% of the votes
Fairfax Financial Holdings Limited 8.50% of the votes
BlackRock, Inc. 3.80% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Under Armour, Inc. (UA) Latest News

28 Oct

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stockrow.com/UA · Data as of Sep 28, 2026 · For information only; not investment advice. · © 2026 stockrow.com