Under Armour, Inc. (UAA) 10-Year Financial Performance & Capital Metrics

UAA • • Industrial / General

Consumer CyclicalApparel ManufacturingOutdoor & Performance ApparelActivewear & Sports Brands

AboutUnder Armour, Inc., together with its subsidiaries, engages in the developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company offers its apparel in compression, fitted, and loose fit types. It also provides footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications. In addition, the company offers accessories, which include gloves, bags, headwear, and sports masks; and digital subscription and advertising services under the MapMyRun and MapMyRide platforms. It primarily offers its products under the UNDER ARMOUR, UA, HEATGEAR, COLDGEAR, HOVR, PROTECT THIS HOUSE, I WILL, UA Logo, ARMOUR FLEECE, and ARMOUR BRA brands. The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, mono-branded Under Armour retail stores, institutional athletic departments, and leagues and teams, as well as independent distributors; and directly to consumers through a network of 422 brand and factory house stores, as well as through e-commerce websites. It operates in the United States, Canada, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. Under Armour, Inc. was incorporated in 1996 and is headquartered in Baltimore, Maryland.Show more

Revenue $5.16B -9.4%
EBITDA -$49M -113.3%
Net Income -$201M -186.7%
EPS (Diluted) -0.47 -190.4%
Gross Margin 47.92% +3.9%
EBITDA Margin -0.96% -114.7%
Operating Margin -3.59% -189.0%
Net Margin -3.9% -195.8%
ROE -9.95% -188.4%
ROIC -5.12% -181.9%
Debt/Equity 0.69 +2.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 4.2% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Thin 5Y average net margin of 0.1%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.29%

5Y-0.39%

3Y-3.14%

TTM-8.15%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM212.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM213.01%

ROCE

10Y Avg4.92%

5Y Avg1.19%

3Y Avg3%

Latest-5.46%

Peer Comparison

Activewear & Sports Brands

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
UAUnder Armour, Inc.	1.12B	5.58	-11.87	-9.43%	0.68%	1.95%	0.69
UAAUnder Armour, Inc.	1.09B	5.76	-12.26	-9.43%	1.99%	5.42%	0.69
JRSHJerash Holdings (US), Inc.	39.24M	3.09	-44.91	24.43%	1.14%	7.63%	0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	3.96B	4.83B	4.99B	5.19B	5.27B	4.47B	5.68B	5.9B	5.7B	5.16B
Revenue Growth %	0.28%	0.22%	0.03%	0.04%	0.01%	-0.15%	0.27%	0.04%	-0.03%	-0.09%
Cost of Goods Sold+	2.06B	2.58B	2.74B	2.85B	2.8B	2.31B	2.82B	3.26B	3.07B	2.69B
COGS % of Revenue	0.52%	0.53%	0.55%	0.55%	0.53%	0.52%	0.5%	0.55%	0.54%	0.52%
Gross Profit+	1.91B	2.25B	2.25B	2.34B	2.47B	2.16B	2.86B	2.64B	2.63B	2.47B
Gross Margin %	0.48%	0.47%	0.45%	0.45%	0.47%	0.48%	0.5%	0.45%	0.46%	0.48%
Gross Profit Growth %	0.26%	0.18%	0%	0.04%	0.06%	-0.13%	0.32%	-0.08%	-0.01%	-0.06%
Operating Expenses+	1.5B	1.83B	2.22B	2.37B	2.23B	2.77B	2.38B	2.38B	2.4B	2.66B
OpEx % of Revenue	0.38%	0.38%	0.45%	0.46%	0.42%	0.62%	0.42%	0.4%	0.42%	0.52%
Selling, General & Admin	1.5B	1.83B	2.1B	2.18B	2.23B	2.17B	2.33B	2.38B	2.4B	2.6B
SG&A % of Revenue	0.38%	0.38%	0.42%	0.42%	0.42%	0.49%	0.41%	0.4%	0.42%	0.5%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	124.05M	183.15M	0	601.6M	40.52M	0	0	57.97M
Operating Income+	408.55M	417.47M	27.84M	-25.02M	236.77M	-613.44M	486.29M	263.59M	229.75M	-185.22M
Operating Margin %	0.1%	0.09%	0.01%	-0%	0.04%	-0.14%	0.09%	0.04%	0.04%	-0.04%
Operating Income Growth %	0.15%	0.02%	-0.93%	-1.9%	10.46%	-3.59%	1.79%	-0.46%	-0.13%	-1.81%
EBITDA+	509.49M	562.24M	201.59M	156.75M	423.19M	-448.45M	627.43M	399.04M	372.34M	-49.41M
EBITDA Margin %	0.13%	0.12%	0.04%	0.03%	0.08%	-0.1%	0.11%	0.07%	0.07%	-0.01%
EBITDA Growth %	0.2%	0.1%	-0.64%	-0.22%	1.7%	-2.06%	2.4%	-0.36%	-0.07%	-1.13%
D&A (Non-Cash Add-back)	100.94M	144.77M	173.75M	181.77M	186.43M	164.98M	141.14M	135.46M	142.59M	135.8M
EBIT	401.31M	414.72M	24.23M	-34.22M	236.77M	-11.84M	526.81M	263.59M	229.75M	-127.25M
Net Interest Income+	-14.63M	-26.43M	-34.54M	-33.57M	-21.24M	-47.26M	-44.3M	-12.83M	268K	0
Interest Income	0	0	0	0	0	0	0	0	268K	0
Interest Expense	14.63M	26.43M	34.54M	33.57M	21.24M	47.26M	44.3M	12.83M	0	0
Other Income/Expense	-21.86M	-29.19M	-38.15M	-42.77M	-74.61M	113.65M	-94.16M	2.23M	32.3M	-18.94M
Pretax Income+	386.69M	391.13M	-10.31M	-67.79M	162.16M	-499.79M	392.13M	265.81M	262.05M	-204.16M
Pretax Margin %	0.1%	0.08%	-0%	-0.01%	0.03%	-0.11%	0.07%	0.05%	0.05%	-0.04%
Income Tax+	154.11M	131.3M	37.95M	-20.55M	70.02M	49.39M	32.07M	-108.64M	30.01M	-2.89M
Effective Tax Rate %	0.6%	0.66%	4.68%	0.68%	0.57%	1.1%	0.92%	1.41%	0.89%	0.99%
Net Income+	232.57M	256.98M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	374.46M	232.04M	-201.27M
Net Margin %	0.06%	0.05%	-0.01%	-0.01%	0.02%	-0.12%	0.06%	0.06%	0.04%	-0.04%
Net Income Growth %	0.12%	0.1%	-1.19%	0.04%	2.99%	-6.96%	1.66%	0.04%	-0.38%	-1.87%
Net Income (Continuing)	232.57M	256.98M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	374.46M	232.04M	-201.27M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.53	0.45	-0.11	-0.10	0.20	-1.21	0.79	0.87	0.52	-0.47
EPS Growth %	0.1%	-0.15%	-1.24%	0.09%	3%	-7.05%	1.65%	0.1%	-0.4%	-1.9%
EPS (Basic)	0.54	0.46	-0.11	-0.10	0.20	-1.21	0.79	0.87	0.53	-0.47
Diluted Shares Outstanding	441.74M	444.9M	440.73M	445.81M	454.27M	454.09M	454.09M	444.53M	451.01M	432.25M
Basic Shares Outstanding	431M	436.33M	440.73M	445.81M	450.96M	453.87M	454.09M	444.53M	440.32M	432.25M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	1.5B	1.98B	2.34B	2.59B	2.7B	3.16B	2.83B	2.95B	2.86B	2.33B
Cash & Short-Term Investments	129.85M	250.47M	312.48M	557.4M	788.07M	1.35B	1.01B	710.93M	858.69M	501.36M
Cash Only	129.85M	250.47M	312.48M	557.4M	788.07M	1.35B	1.01B	710.93M	858.69M	501.36M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	433.64M	622.68M	609.67M	652.55M	708.71M	696.29M	702.2M	758.56M	757.34M	675.82M
Days Sales Outstanding	39.94	47.02	44.6	45.86	49.11	56.8	45.1	46.9	48.48	47.77
Inventory	783.03M	917.49M	1.16B	1.02B	892.26M	851.83M	824.46M	1.19B	958.5M	945.84M
Days Inventory Outstanding	138.89	129.56	154.45	130.44	116.45	134.33	106.64	132.78	113.9	128.36
Other Current Assets	152.24M	183.39M	256.98M	364.18M	0	0	297.03M	293.33M	289.16M	206.08M
Total Non-Current Assets+	1.37B	1.68B	1.67B	1.65B	2.14B	1.76B	1.62B	1.88B	1.9B	1.97B
Property, Plant & Equipment	538.53M	804.21M	885.77M	826.87M	1.38B	1.14B	1.02B	1.13B	1.1B	1.03B
Fixed Asset Turnover	7.36x	6.01x	5.63x	6.28x	3.81x	3.91x	5.56x	5.20x	5.19x	5.02x
Goodwill	585.18M	563.59M	555.67M	546.49M	550.18M	497.97M	491.51M	481.99M	478.3M	487.63M
Intangible Assets	75.69M	64.31M	46.99M	41.79M	36.35M	12.55M	10.58M	8.94M	7M	5.22M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	78.58M	110.2M	97.44M	123.82M	88.34M	78.83M	76.02M	67.09M	91.52M	163.27M
Total Assets+	2.87B	3.65B	4.01B	4.25B	4.84B	4.91B	4.45B	4.83B	4.76B	4.3B
Asset Turnover	1.38x	1.32x	1.25x	1.22x	1.09x	0.91x	1.28x	1.22x	1.20x	1.20x
Asset Growth %	0.37%	0.27%	0.1%	0.06%	0.14%	0.01%	-0.09%	0.08%	-0.01%	-0.1%
Total Current Liabilities+	478.81M	694.7M	1.06B	1.32B	1.42B	1.23B	1.3B	1.36B	1.17B	1.11B
Accounts Payable	200.46M	418.56M	561.11M	560.88M	618.19M	490.86M	560.33M	648.49M	483.73M	429.94M
Days Payables Outstanding	35.56	59.11	74.81	71.76	80.68	77.41	72.47	72.62	57.48	58.35
Short-Term Debt	42M	27M	152M	25M	0	0	0	0	80.92M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	43.41M	40.39M	50.43M	88.26M	303.22M	270.63M	285.47M	203.28M	260.02M	316.44M
Current Ratio	3.13x	2.85x	2.20x	1.97x	1.90x	2.56x	2.18x	2.17x	2.46x	2.10x
Quick Ratio	1.49x	1.52x	1.11x	1.20x	1.27x	1.87x	1.55x	1.30x	1.63x	1.25x
Cash Conversion Cycle	143.27	117.48	124.25	104.54	84.88	113.72	79.26	107.06	104.9	117.78
Total Non-Current Liabilities+	721.87M	927.62M	927.35M	912.17M	1.27B	1.91B	1.43B	1.5B	1.44B	1.3B
Long-Term Debt	627M	790.39M	765.05M	703.83M	592.69M	1.01B	672.29M	674.48M	594.87M	595.13M
Capital Lease Obligations	0	0	0	0	580.63M	801.29M	668.98M	705.71M	627.66M	574.28M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	94.87M	137.23M	162.3M	208.34M	98.11M	98.54M	84.01M	121.93M	219.45M	132.05M
Total Liabilities	1.2B	1.62B	1.99B	2.23B	2.69B	3.14B	2.72B	2.86B	2.61B	2.41B
Total Debt+	669M	817.39M	917.05M	728.83M	1.3B	1.97B	1.48B	1.52B	1.44B	1.3B
Net Debt	539.15M	566.92M	604.56M	171.43M	511.15M	623.42M	466.96M	810.25M	584.1M	798.09M
Debt / Equity	0.40x	0.40x	0.45x	0.36x	0.60x	1.11x	0.85x	0.77x	0.67x	0.69x
Debt / EBITDA	1.31x	1.45x	4.55x	4.65x	3.07x	-	2.35x	3.81x	3.87x	-
Net Debt / EBITDA	1.06x	1.01x	3.00x	1.09x	1.21x	-	0.74x	2.03x	1.57x	-
Interest Coverage	27.93x	15.79x	0.81x	-0.75x	11.15x	-12.98x	10.98x	20.55x	-	-
Total Equity+	1.67B	2.03B	2.02B	2.02B	2.15B	1.77B	1.73B	1.97B	2.15B	1.89B
Equity Growth %	0.24%	0.22%	-0.01%	-0%	0.07%	-0.18%	-0.02%	0.14%	0.1%	-0.12%
Book Value per Share	3.78	4.57	4.58	4.52	4.73	3.90	3.81	4.42	4.77	4.37
Total Shareholders' Equity	1.67B	2.03B	2.02B	2.02B	2.15B	1.77B	1.73B	1.97B	2.15B	1.89B
Common Stock	72K	145K	146K	148K	149K	151K	153K	147K	144K	141K
Retained Earnings	1.08B	1.26B	1.18B	1.14B	1.23B	747.23M	721.93M	897.31M	1.05B	746.28M
Treasury Stock	-	-	-	-	-	-	-	-	-	0
Accumulated OCI	-45.01M	-52.14M	-38.21M	-38.99M	-50.77M	-49.58M	-40.09M	-67.84M	-77.12M	-93.94M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-44.1M	304.49M	234.06M	628.23M	509.03M	212.86M	664.83M	-9.91M	353.97M	-59.32M
Operating CF Margin %	-0.01%	0.06%	0.05%	0.12%	0.1%	0.05%	0.12%	-0%	0.06%	-0.01%
Operating CF Growth %	-1.2%	7.9%	-0.23%	1.68%	-0.19%	-0.58%	2.12%	-1.01%	36.7%	-1.17%
Net Income	232.57M	258.66M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	386.77M	232.04M	-201.27M
Depreciation & Amortization	100.94M	144.77M	173.75M	181.77M	186.43M	164.98M	141.14M	137.62M	142.59M	135.8M
Stock-Based Compensation	60.38M	46.15M	39.93M	41.78M	49.62M	42.07M	43.79M	36.81M	43M	52.97M
Deferred Taxes	-4.43M	-41.83M	55.91M	-38.54M	38.13M	43.99M	-2.64M	-152.4M	-23.69M	-61.79M
Other Non-Cash Items	74.3M	81.54M	153.38M	-206.57M	15.72M	308.09M	99.93M	10M	39.53M	52.23M
Working Capital Changes	-507.87M	-184.8M	-140.65M	696.1M	126.99M	202.91M	22.54M	-428.71M	-79.5M	-37.27M
Change in Receivables	-191.88M	-249.85M	-79.11M	186.83M	-45.45M	167.61M	-31.15M	-62.16M	-3.91M	79.98M
Change in Inventory	-278.52M	-148.06M	-222.39M	109.92M	149.52M	15.31M	93.29M	-373.71M	216.48M	10.94M
Change in Payables	-22.58M	211.33M	145.69M	26.41M	59.46M	-40.67M	26.03M	77.56M	-197.89M	-58.47M
Cash from Investing+	-847.48M	-381.14M	-282.99M	-202.9M	-147.11M	66.34M	-68.35M	-152.8M	-105.33M	-126.35M
Capital Expenditures	-298.93M	-386.75M	-281.34M	-170.38M	-145.8M	-92.29M	-69.76M	-187.8M	-150.33M	-168.68M
CapEx % of Revenue	0.08%	0.08%	0.06%	0.03%	0.03%	0.02%	0.01%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.55M	-875K	-1.65M	6.69M	-1.31M	0	1.41M	0	0	0
Cash from Financing+	440.08M	206M	106.76M	-189.87M	-137.07M	436.85M	-418.74M	-126.38M	-78.69M	-180.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-2.93M	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	705.28M	1.38B	771.76M	505.13M	25.75M	1.24B	87.54M	3.78M	-3.69M	-9.89M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-343.03M	-82.26M	-47.28M	457.85M	363.23M	120.57M	595.07M	-197.71M	203.64M	-228M
FCF Margin %	-0.09%	-0.02%	-0.01%	0.09%	0.07%	0.03%	0.1%	-0.03%	0.04%	-0.04%
FCF Growth %	-5.37%	0.76%	0.43%	10.68%	-0.21%	-0.67%	3.94%	-1.33%	2.03%	-2.12%
FCF per Share	-0.78	-0.18	-0.11	1.03	0.80	0.27	1.31	-0.44	0.45	-0.53
FCF Conversion (FCF/Net Income)	-0.19x	1.18x	-4.85x	-13.57x	5.52x	-0.39x	1.85x	-0.03x	1.53x	0.29x
Interest Paid	-	-	-	-	-	-	-	-	-	10.54M
Taxes Paid	-	-	-	-	-	-	-	-	-	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	15.41%	13.89%	-2.38%	-2.29%	4.42%	-28.02%	20.58%	20.27%	11.27%	-9.95%
Return on Invested Capital (ROIC)	18.86%	13.03%	0.8%	-0.78%	7.32%	-18.2%	15.89%	7.95%	6.25%	-5.12%
Gross Margin	48.08%	46.52%	45.13%	45.07%	46.9%	48.27%	50.35%	44.79%	46.13%	47.92%
Net Margin	5.87%	5.32%	-0.97%	-0.89%	1.75%	-12.27%	6.34%	6.34%	4.07%	-3.9%
Debt / Equity	0.40x	0.40x	0.45x	0.36x	0.60x	1.11x	0.85x	0.77x	0.67x	0.69x
Interest Coverage	27.93x	15.79x	0.81x	-0.75x	11.15x	-12.98x	10.98x	20.55x	-	-
FCF Conversion	-0.19x	1.18x	-4.85x	-13.57x	5.52x	-0.39x	1.85x	-0.03x	1.53x	0.29x
Revenue Growth	28.5%	21.95%	3.23%	4.09%	1.42%	-15.05%	27.01%	3.87%	-3.41%	-9.43%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Apparel	2.8B	3.23B	3.29B	3.46B	3.47B	2.88B	3.84B	3.87B	3.79B	3.45B
Apparel Growth	-	15.28%	1.80%	5.33%	0.23%	-16.94%	33.26%	0.79%	-2.13%	-8.91%
Footwear	677.74M	1.01B	1.04B	1.06B	1.09B	934.33M	1.26B	1.46B	1.38B	1.21B
Footwear Growth	-	49.13%	2.69%	2.44%	2.20%	-14.01%	35.30%	15.12%	-4.92%	-12.82%
Accessories	346.88M	406.61M	445.84M	422.5M	416.35M	414.08M	461.89M	408.52M	405.71M	410.86M
Accessories Growth	-	17.22%	9.65%	-5.24%	-1.45%	-0.55%	11.55%	-11.56%	-0.69%	1.27%
License	-	-	-	124.78M	138.78M	105.78M	112.62M	116.75M	111.24M	94.59M
License Growth	-	-	-	-	11.21%	-23.78%	6.47%	3.66%	-4.72%	-14.97%

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
North America	3.46B	4.01B	3.8B	3.74B	3.66B	2.94B	3.81B	3.82B	3.51B	3.11B
North America Growth	-	15.90%	-5.07%	-1.77%	-2.06%	-19.50%	29.39%	0.28%	-8.27%	-11.40%
EMEA	-	330.58M	470M	588.58M	621.14M	598.3M	842.51M	992.62M	1.08B	1.09B
EMEA Growth	-	-	42.17%	25.23%	5.53%	-3.68%	40.82%	17.82%	9.00%	0.43%
Asia Pacific	-	268.61M	433.65M	558.16M	636.34M	628.66M	831.76M	825.34M	873.02M	755.44M
Asia Pacific Growth	-	-	61.44%	28.71%	14.01%	-1.21%	32.31%	-0.77%	5.78%	-13.47%
Latin America	-	141.79M	181.32M	190.79M	196.13M	164.82M	195.25M	213.22M	229.48M	215.43M
Latin America Growth	-	-	27.88%	5.22%	2.80%	-15.96%	18.46%	9.20%	7.63%	-6.12%
Other Foreign Countries	454.16M	-	-	-	-	-	-	-	-	-
Other Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Under Armour, Inc. (UAA) reported $5.11B in revenue for fiscal year 2025. This represents a 247% increase from $1.47B in 2012.

Under Armour, Inc. (UAA) saw revenue decline by 9.4% over the past year.

Yes, Under Armour, Inc. (UAA) is profitable, generating $101.5M in net income for fiscal year 2025 (-3.9% net margin).

Dividend & Returns

Under Armour, Inc. (UAA) has a return on equity (ROE) of -10.0%. Negative ROE indicates the company is unprofitable.

Under Armour, Inc. (UAA) had negative free cash flow of $321.8M in fiscal year 2025, likely due to heavy capital investments.

US Stock Screener

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Under Armour, Inc. (UAA) 10-Year Financial Performance & Capital Metrics

UAA • • Industrial / General

Consumer CyclicalApparel ManufacturingOutdoor & Performance ApparelActivewear & Sports Brands

Revenue $5.16B -9.4%
EBITDA -$49M -113.3%
Net Income -$201M -186.7%
EPS (Diluted) -0.47 -190.4%
Gross Margin 47.92% +3.9%
EBITDA Margin -0.96% -114.7%
Operating Margin -3.59% -189.0%
Net Margin -3.9% -195.8%
ROE -9.95% -188.4%
ROIC -5.12% -181.9%
Debt/Equity 0.69 +2.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 4.2% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Thin 5Y average net margin of 0.1%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.29%

5Y-0.39%

3Y-3.14%

TTM-8.15%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM212.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM213.01%

ROCE

10Y Avg4.92%

5Y Avg1.19%

3Y Avg3%

Latest-5.46%

Peer Comparison

Activewear & Sports Brands

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
UAUnder Armour, Inc.	1.12B	5.58	-11.87	-9.43%	0.68%	1.95%	0.69
UAAUnder Armour, Inc.	1.09B	5.76	-12.26	-9.43%	1.99%	5.42%	0.69
JRSHJerash Holdings (US), Inc.	39.24M	3.09	-44.91	24.43%	1.14%	7.63%	0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	3.96B	4.83B	4.99B	5.19B	5.27B	4.47B	5.68B	5.9B	5.7B	5.16B
Revenue Growth %	0.28%	0.22%	0.03%	0.04%	0.01%	-0.15%	0.27%	0.04%	-0.03%	-0.09%
Cost of Goods Sold+	2.06B	2.58B	2.74B	2.85B	2.8B	2.31B	2.82B	3.26B	3.07B	2.69B
COGS % of Revenue	0.52%	0.53%	0.55%	0.55%	0.53%	0.52%	0.5%	0.55%	0.54%	0.52%
Gross Profit+	1.91B	2.25B	2.25B	2.34B	2.47B	2.16B	2.86B	2.64B	2.63B	2.47B
Gross Margin %	0.48%	0.47%	0.45%	0.45%	0.47%	0.48%	0.5%	0.45%	0.46%	0.48%
Gross Profit Growth %	0.26%	0.18%	0%	0.04%	0.06%	-0.13%	0.32%	-0.08%	-0.01%	-0.06%
Operating Expenses+	1.5B	1.83B	2.22B	2.37B	2.23B	2.77B	2.38B	2.38B	2.4B	2.66B
OpEx % of Revenue	0.38%	0.38%	0.45%	0.46%	0.42%	0.62%	0.42%	0.4%	0.42%	0.52%
Selling, General & Admin	1.5B	1.83B	2.1B	2.18B	2.23B	2.17B	2.33B	2.38B	2.4B	2.6B
SG&A % of Revenue	0.38%	0.38%	0.42%	0.42%	0.42%	0.49%	0.41%	0.4%	0.42%	0.5%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	124.05M	183.15M	0	601.6M	40.52M	0	0	57.97M
Operating Income+	408.55M	417.47M	27.84M	-25.02M	236.77M	-613.44M	486.29M	263.59M	229.75M	-185.22M
Operating Margin %	0.1%	0.09%	0.01%	-0%	0.04%	-0.14%	0.09%	0.04%	0.04%	-0.04%
Operating Income Growth %	0.15%	0.02%	-0.93%	-1.9%	10.46%	-3.59%	1.79%	-0.46%	-0.13%	-1.81%
EBITDA+	509.49M	562.24M	201.59M	156.75M	423.19M	-448.45M	627.43M	399.04M	372.34M	-49.41M
EBITDA Margin %	0.13%	0.12%	0.04%	0.03%	0.08%	-0.1%	0.11%	0.07%	0.07%	-0.01%
EBITDA Growth %	0.2%	0.1%	-0.64%	-0.22%	1.7%	-2.06%	2.4%	-0.36%	-0.07%	-1.13%
D&A (Non-Cash Add-back)	100.94M	144.77M	173.75M	181.77M	186.43M	164.98M	141.14M	135.46M	142.59M	135.8M
EBIT	401.31M	414.72M	24.23M	-34.22M	236.77M	-11.84M	526.81M	263.59M	229.75M	-127.25M
Net Interest Income+	-14.63M	-26.43M	-34.54M	-33.57M	-21.24M	-47.26M	-44.3M	-12.83M	268K	0
Interest Income	0	0	0	0	0	0	0	0	268K	0
Interest Expense	14.63M	26.43M	34.54M	33.57M	21.24M	47.26M	44.3M	12.83M	0	0
Other Income/Expense	-21.86M	-29.19M	-38.15M	-42.77M	-74.61M	113.65M	-94.16M	2.23M	32.3M	-18.94M
Pretax Income+	386.69M	391.13M	-10.31M	-67.79M	162.16M	-499.79M	392.13M	265.81M	262.05M	-204.16M
Pretax Margin %	0.1%	0.08%	-0%	-0.01%	0.03%	-0.11%	0.07%	0.05%	0.05%	-0.04%
Income Tax+	154.11M	131.3M	37.95M	-20.55M	70.02M	49.39M	32.07M	-108.64M	30.01M	-2.89M
Effective Tax Rate %	0.6%	0.66%	4.68%	0.68%	0.57%	1.1%	0.92%	1.41%	0.89%	0.99%
Net Income+	232.57M	256.98M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	374.46M	232.04M	-201.27M
Net Margin %	0.06%	0.05%	-0.01%	-0.01%	0.02%	-0.12%	0.06%	0.06%	0.04%	-0.04%
Net Income Growth %	0.12%	0.1%	-1.19%	0.04%	2.99%	-6.96%	1.66%	0.04%	-0.38%	-1.87%
Net Income (Continuing)	232.57M	256.98M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	374.46M	232.04M	-201.27M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.53	0.45	-0.11	-0.10	0.20	-1.21	0.79	0.87	0.52	-0.47
EPS Growth %	0.1%	-0.15%	-1.24%	0.09%	3%	-7.05%	1.65%	0.1%	-0.4%	-1.9%
EPS (Basic)	0.54	0.46	-0.11	-0.10	0.20	-1.21	0.79	0.87	0.53	-0.47
Diluted Shares Outstanding	441.74M	444.9M	440.73M	445.81M	454.27M	454.09M	454.09M	444.53M	451.01M	432.25M
Basic Shares Outstanding	431M	436.33M	440.73M	445.81M	450.96M	453.87M	454.09M	444.53M	440.32M	432.25M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	1.5B	1.98B	2.34B	2.59B	2.7B	3.16B	2.83B	2.95B	2.86B	2.33B
Cash & Short-Term Investments	129.85M	250.47M	312.48M	557.4M	788.07M	1.35B	1.01B	710.93M	858.69M	501.36M
Cash Only	129.85M	250.47M	312.48M	557.4M	788.07M	1.35B	1.01B	710.93M	858.69M	501.36M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	433.64M	622.68M	609.67M	652.55M	708.71M	696.29M	702.2M	758.56M	757.34M	675.82M
Days Sales Outstanding	39.94	47.02	44.6	45.86	49.11	56.8	45.1	46.9	48.48	47.77
Inventory	783.03M	917.49M	1.16B	1.02B	892.26M	851.83M	824.46M	1.19B	958.5M	945.84M
Days Inventory Outstanding	138.89	129.56	154.45	130.44	116.45	134.33	106.64	132.78	113.9	128.36
Other Current Assets	152.24M	183.39M	256.98M	364.18M	0	0	297.03M	293.33M	289.16M	206.08M
Total Non-Current Assets+	1.37B	1.68B	1.67B	1.65B	2.14B	1.76B	1.62B	1.88B	1.9B	1.97B
Property, Plant & Equipment	538.53M	804.21M	885.77M	826.87M	1.38B	1.14B	1.02B	1.13B	1.1B	1.03B
Fixed Asset Turnover	7.36x	6.01x	5.63x	6.28x	3.81x	3.91x	5.56x	5.20x	5.19x	5.02x
Goodwill	585.18M	563.59M	555.67M	546.49M	550.18M	497.97M	491.51M	481.99M	478.3M	487.63M
Intangible Assets	75.69M	64.31M	46.99M	41.79M	36.35M	12.55M	10.58M	8.94M	7M	5.22M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	78.58M	110.2M	97.44M	123.82M	88.34M	78.83M	76.02M	67.09M	91.52M	163.27M
Total Assets+	2.87B	3.65B	4.01B	4.25B	4.84B	4.91B	4.45B	4.83B	4.76B	4.3B
Asset Turnover	1.38x	1.32x	1.25x	1.22x	1.09x	0.91x	1.28x	1.22x	1.20x	1.20x
Asset Growth %	0.37%	0.27%	0.1%	0.06%	0.14%	0.01%	-0.09%	0.08%	-0.01%	-0.1%
Total Current Liabilities+	478.81M	694.7M	1.06B	1.32B	1.42B	1.23B	1.3B	1.36B	1.17B	1.11B
Accounts Payable	200.46M	418.56M	561.11M	560.88M	618.19M	490.86M	560.33M	648.49M	483.73M	429.94M
Days Payables Outstanding	35.56	59.11	74.81	71.76	80.68	77.41	72.47	72.62	57.48	58.35
Short-Term Debt	42M	27M	152M	25M	0	0	0	0	80.92M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	43.41M	40.39M	50.43M	88.26M	303.22M	270.63M	285.47M	203.28M	260.02M	316.44M
Current Ratio	3.13x	2.85x	2.20x	1.97x	1.90x	2.56x	2.18x	2.17x	2.46x	2.10x
Quick Ratio	1.49x	1.52x	1.11x	1.20x	1.27x	1.87x	1.55x	1.30x	1.63x	1.25x
Cash Conversion Cycle	143.27	117.48	124.25	104.54	84.88	113.72	79.26	107.06	104.9	117.78
Total Non-Current Liabilities+	721.87M	927.62M	927.35M	912.17M	1.27B	1.91B	1.43B	1.5B	1.44B	1.3B
Long-Term Debt	627M	790.39M	765.05M	703.83M	592.69M	1.01B	672.29M	674.48M	594.87M	595.13M
Capital Lease Obligations	0	0	0	0	580.63M	801.29M	668.98M	705.71M	627.66M	574.28M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	94.87M	137.23M	162.3M	208.34M	98.11M	98.54M	84.01M	121.93M	219.45M	132.05M
Total Liabilities	1.2B	1.62B	1.99B	2.23B	2.69B	3.14B	2.72B	2.86B	2.61B	2.41B
Total Debt+	669M	817.39M	917.05M	728.83M	1.3B	1.97B	1.48B	1.52B	1.44B	1.3B
Net Debt	539.15M	566.92M	604.56M	171.43M	511.15M	623.42M	466.96M	810.25M	584.1M	798.09M
Debt / Equity	0.40x	0.40x	0.45x	0.36x	0.60x	1.11x	0.85x	0.77x	0.67x	0.69x
Debt / EBITDA	1.31x	1.45x	4.55x	4.65x	3.07x	-	2.35x	3.81x	3.87x	-
Net Debt / EBITDA	1.06x	1.01x	3.00x	1.09x	1.21x	-	0.74x	2.03x	1.57x	-
Interest Coverage	27.93x	15.79x	0.81x	-0.75x	11.15x	-12.98x	10.98x	20.55x	-	-
Total Equity+	1.67B	2.03B	2.02B	2.02B	2.15B	1.77B	1.73B	1.97B	2.15B	1.89B
Equity Growth %	0.24%	0.22%	-0.01%	-0%	0.07%	-0.18%	-0.02%	0.14%	0.1%	-0.12%
Book Value per Share	3.78	4.57	4.58	4.52	4.73	3.90	3.81	4.42	4.77	4.37
Total Shareholders' Equity	1.67B	2.03B	2.02B	2.02B	2.15B	1.77B	1.73B	1.97B	2.15B	1.89B
Common Stock	72K	145K	146K	148K	149K	151K	153K	147K	144K	141K
Retained Earnings	1.08B	1.26B	1.18B	1.14B	1.23B	747.23M	721.93M	897.31M	1.05B	746.28M
Treasury Stock	-	-	-	-	-	-	-	-	-	0
Accumulated OCI	-45.01M	-52.14M	-38.21M	-38.99M	-50.77M	-49.58M	-40.09M	-67.84M	-77.12M	-93.94M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-44.1M	304.49M	234.06M	628.23M	509.03M	212.86M	664.83M	-9.91M	353.97M	-59.32M
Operating CF Margin %	-0.01%	0.06%	0.05%	0.12%	0.1%	0.05%	0.12%	-0%	0.06%	-0.01%
Operating CF Growth %	-1.2%	7.9%	-0.23%	1.68%	-0.19%	-0.58%	2.12%	-1.01%	36.7%	-1.17%
Net Income	232.57M	258.66M	-48.26M	-46.3M	92.14M	-549.18M	360.06M	386.77M	232.04M	-201.27M
Depreciation & Amortization	100.94M	144.77M	173.75M	181.77M	186.43M	164.98M	141.14M	137.62M	142.59M	135.8M
Stock-Based Compensation	60.38M	46.15M	39.93M	41.78M	49.62M	42.07M	43.79M	36.81M	43M	52.97M
Deferred Taxes	-4.43M	-41.83M	55.91M	-38.54M	38.13M	43.99M	-2.64M	-152.4M	-23.69M	-61.79M
Other Non-Cash Items	74.3M	81.54M	153.38M	-206.57M	15.72M	308.09M	99.93M	10M	39.53M	52.23M
Working Capital Changes	-507.87M	-184.8M	-140.65M	696.1M	126.99M	202.91M	22.54M	-428.71M	-79.5M	-37.27M
Change in Receivables	-191.88M	-249.85M	-79.11M	186.83M	-45.45M	167.61M	-31.15M	-62.16M	-3.91M	79.98M
Change in Inventory	-278.52M	-148.06M	-222.39M	109.92M	149.52M	15.31M	93.29M	-373.71M	216.48M	10.94M
Change in Payables	-22.58M	211.33M	145.69M	26.41M	59.46M	-40.67M	26.03M	77.56M	-197.89M	-58.47M
Cash from Investing+	-847.48M	-381.14M	-282.99M	-202.9M	-147.11M	66.34M	-68.35M	-152.8M	-105.33M	-126.35M
Capital Expenditures	-298.93M	-386.75M	-281.34M	-170.38M	-145.8M	-92.29M	-69.76M	-187.8M	-150.33M	-168.68M
CapEx % of Revenue	0.08%	0.08%	0.06%	0.03%	0.03%	0.02%	0.01%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.55M	-875K	-1.65M	6.69M	-1.31M	0	1.41M	0	0	0
Cash from Financing+	440.08M	206M	106.76M	-189.87M	-137.07M	436.85M	-418.74M	-126.38M	-78.69M	-180.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-2.93M	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	705.28M	1.38B	771.76M	505.13M	25.75M	1.24B	87.54M	3.78M	-3.69M	-9.89M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-343.03M	-82.26M	-47.28M	457.85M	363.23M	120.57M	595.07M	-197.71M	203.64M	-228M
FCF Margin %	-0.09%	-0.02%	-0.01%	0.09%	0.07%	0.03%	0.1%	-0.03%	0.04%	-0.04%
FCF Growth %	-5.37%	0.76%	0.43%	10.68%	-0.21%	-0.67%	3.94%	-1.33%	2.03%	-2.12%
FCF per Share	-0.78	-0.18	-0.11	1.03	0.80	0.27	1.31	-0.44	0.45	-0.53
FCF Conversion (FCF/Net Income)	-0.19x	1.18x	-4.85x	-13.57x	5.52x	-0.39x	1.85x	-0.03x	1.53x	0.29x
Interest Paid	-	-	-	-	-	-	-	-	-	10.54M
Taxes Paid	-	-	-	-	-	-	-	-	-	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	15.41%	13.89%	-2.38%	-2.29%	4.42%	-28.02%	20.58%	20.27%	11.27%	-9.95%
Return on Invested Capital (ROIC)	18.86%	13.03%	0.8%	-0.78%	7.32%	-18.2%	15.89%	7.95%	6.25%	-5.12%
Gross Margin	48.08%	46.52%	45.13%	45.07%	46.9%	48.27%	50.35%	44.79%	46.13%	47.92%
Net Margin	5.87%	5.32%	-0.97%	-0.89%	1.75%	-12.27%	6.34%	6.34%	4.07%	-3.9%
Debt / Equity	0.40x	0.40x	0.45x	0.36x	0.60x	1.11x	0.85x	0.77x	0.67x	0.69x
Interest Coverage	27.93x	15.79x	0.81x	-0.75x	11.15x	-12.98x	10.98x	20.55x	-	-
FCF Conversion	-0.19x	1.18x	-4.85x	-13.57x	5.52x	-0.39x	1.85x	-0.03x	1.53x	0.29x
Revenue Growth	28.5%	21.95%	3.23%	4.09%	1.42%	-15.05%	27.01%	3.87%	-3.41%	-9.43%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Apparel	2.8B	3.23B	3.29B	3.46B	3.47B	2.88B	3.84B	3.87B	3.79B	3.45B
Apparel Growth	-	15.28%	1.80%	5.33%	0.23%	-16.94%	33.26%	0.79%	-2.13%	-8.91%
Footwear	677.74M	1.01B	1.04B	1.06B	1.09B	934.33M	1.26B	1.46B	1.38B	1.21B
Footwear Growth	-	49.13%	2.69%	2.44%	2.20%	-14.01%	35.30%	15.12%	-4.92%	-12.82%
Accessories	346.88M	406.61M	445.84M	422.5M	416.35M	414.08M	461.89M	408.52M	405.71M	410.86M
Accessories Growth	-	17.22%	9.65%	-5.24%	-1.45%	-0.55%	11.55%	-11.56%	-0.69%	1.27%
License	-	-	-	124.78M	138.78M	105.78M	112.62M	116.75M	111.24M	94.59M
License Growth	-	-	-	-	11.21%	-23.78%	6.47%	3.66%	-4.72%	-14.97%

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
North America	3.46B	4.01B	3.8B	3.74B	3.66B	2.94B	3.81B	3.82B	3.51B	3.11B
North America Growth	-	15.90%	-5.07%	-1.77%	-2.06%	-19.50%	29.39%	0.28%	-8.27%	-11.40%
EMEA	-	330.58M	470M	588.58M	621.14M	598.3M	842.51M	992.62M	1.08B	1.09B
EMEA Growth	-	-	42.17%	25.23%	5.53%	-3.68%	40.82%	17.82%	9.00%	0.43%
Asia Pacific	-	268.61M	433.65M	558.16M	636.34M	628.66M	831.76M	825.34M	873.02M	755.44M
Asia Pacific Growth	-	-	61.44%	28.71%	14.01%	-1.21%	32.31%	-0.77%	5.78%	-13.47%
Latin America	-	141.79M	181.32M	190.79M	196.13M	164.82M	195.25M	213.22M	229.48M	215.43M
Latin America Growth	-	-	27.88%	5.22%	2.80%	-15.96%	18.46%	9.20%	7.63%	-6.12%
Other Foreign Countries	454.16M	-	-	-	-	-	-	-	-	-
Other Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Under Armour, Inc. (UAA) reported $5.11B in revenue for fiscal year 2025. This represents a 247% increase from $1.47B in 2012.

Under Armour, Inc. (UAA) saw revenue decline by 9.4% over the past year.

Yes, Under Armour, Inc. (UAA) is profitable, generating $101.5M in net income for fiscal year 2025 (-3.9% net margin).

Dividend & Returns

Under Armour, Inc. (UAA) has a return on equity (ROE) of -10.0%. Negative ROE indicates the company is unprofitable.

Under Armour, Inc. (UAA) had negative free cash flow of $321.8M in fiscal year 2025, likely due to heavy capital investments.