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UAA

Under Armour, Inc.

UAA

Under Armour, Inc. • NYSE
$4.61 ▼ -0.32% (-0.01)
Market Cap $1.98 B
52w High $10.53
52w Low $4.13
Dividend Yield 0%
P/E -21.93
Volume 3.43M
Outstanding Shares 429.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $1.134B ▼ $543.173M ▼ $-2.612M ▲ -0.23% ▲ $-0.006 ▲ $45.132M ▲
Q4-2025 $1.181B ▼ $622.859M ▼ $-67.457M ▼ -5.714% ▼ $-0.16 ▼ $-17.333M ▼
Q3-2025 $1.401B ▲ $651.646M ▲ $1.234M ▼ 0.088% ▼ $0.003 ▼ $58.675M ▼
Q2-2025 $1.399B ▲ $523.052M ▼ $170.382M ▲ 12.179% ▲ $0.39 ▲ $209.027M ▲
Q1-2025 $1.184B $862.403M $-305.426M -25.803% $-0.7 $-241.812M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $910.985M ▲ $4.865B ▲ $2.991B ▲ $1.874B ▼
Q4-2025 $501.361M ▼ $4.301B ▼ $2.411B ▼ $1.89B ▼
Q3-2025 $726.877M ▲ $4.631B ▲ $2.646B ▲ $1.985B ▼
Q2-2025 $530.701M ▼ $4.495B ▼ $2.509B ▼ $1.985B ▲
Q1-2025 $884.552M $4.861B $3.044B $1.817B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-2.612M ▲ $48.852M ▲ $-35.362M ▼ $387.303M ▲ $410.107M ▲ $13.49M ▲
Q4-2025 $-67.457M ▼ $-202.199M ▼ $-27.156M ▲ $-26.351M ▼ $-230.115M ▼ $-231.023M ▼
Q3-2025 $1.234M ▼ $311.289M ▲ $-55.903M ▼ $-25.063M ▼ $195.318M ▲ $262.932M ▲
Q2-2025 $170.382M ▲ $-321.384M ▼ $-47.61M ▼ $-1.172M ▲ $-353.313M ▼ $-367.206M ▼
Q1-2025 $-305.426M $152.975M $4.319M $-128.22M $26.244M $107.294M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Accessories
Accessories
 $120.00M ▲$110.00M ▼$90.00M ▼$100.00M ▲
Apparel
Apparel
 $950.00M ▲$970.00M ▲$780.00M ▼$750.00M ▼
Footwear
Footwear
 $310.00M ▲$300.00M ▼$280.00M ▼$270.00M ▼
License
License
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Under Armour’s income statement shows a company that staged a recovery and then lost momentum again. Revenue grew coming out of the pandemic but has recently slipped, suggesting demand and/or pricing power have weakened. Profitability improved for a couple of years, then swung back to operating and net losses in the most recent period, pointing to margin pressure and possibly higher costs or heavier discounting. Overall, the business looks stuck between restructuring and growth: not in crisis, but not yet delivering steady, reliable earnings.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid but less comfortable than a few years ago. Total debt has gradually come down, which reduces financial risk and interest burden. At the same time, the cash balance has eroded, leaving a much thinner cushion to absorb shocks or fund big initiatives internally. Shareholders’ equity has generally held up but has dipped recently, reflecting the return to losses. In short, leverage is improving, but financial flexibility is tighter than before, so sustained weak performance would matter more now.

Cash Flow

Cash Flow Cash generation is uneven and a key watchpoint. Operating cash flow has bounced between strong, weak, and slightly negative years, showing that the company has not yet established a consistently cash-generative pattern. Free cash flow has also swung from clearly positive to clearly negative, meaning that in some years the business funds itself comfortably, and in others it likely needs to rely more on the balance sheet or external sources. Capital spending has been relatively restrained, so the volatility is more about underlying business performance and working capital than about big investment splurges. For a turnaround story, this choppiness in cash flow underscores execution risk.

Competitive Edge

Competitive Edge Under Armour still holds a credible position as a performance-first athletic brand, with strong recognition among “serious athletes.” Its history in moisture-wicking and performance apparel gives it legitimacy and a loyal core following. However, the company faces intense competition from much larger rivals that dominate both performance and lifestyle segments, making it harder to gain share and maintain pricing. The brand is trying to sharpen its focus on high-performance, purpose-built gear and reduce lower-value offerings, which could strengthen its positioning but may also limit broad appeal if not executed well. Overall, the brand has differentiation, but its competitive moat appears modest and highly dependent on continuous innovation and marketing discipline.

Innovation and R&D

Innovation and R&D Innovation is one of Under Armour’s clearest strengths. The company has built a suite of proprietary technologies in fabrics and cushioning, and is pushing newer platforms like HALO and Infinite to refresh its footwear story. Its partnership with a major university for research in materials, data, and human performance suggests a structured pipeline for future product advances, including more sustainable materials. Management is also simplifying the product lineup and leaning into a premium, “brand-first” strategy, supported by digital and direct-to-consumer expansion. The opportunity is to reclaim a clear performance edge; the risk is that these innovations and strategies may take time to resonate in a crowded market, especially if marketing or execution falls short.

Summary

Under Armour looks like a turnaround in mid-flight: the brand and technology foundation are attractive, but the financial picture is still inconsistent. After a period of recovery, sales and profits have softened again, and cash flow remains volatile, which raises questions about how quickly the new strategy can translate into stable performance. The company has been reducing debt, but a thinner cash position leaves less room for prolonged missteps. On the positive side, a renewed focus on high-performance products, innovation partnerships, premium brand positioning, and direct-to-consumer channels could strengthen both margins and brand equity over time. The key uncertainties are execution, competitive pressure from much larger peers, and whether the recent strategic reset can restore steady growth and durable profitability.

NEWS

November 13, 2025 · 5:30 PM UTC

UNDER ARMOUR EXPANDS FISCAL 2025 RESTRUCTURING PLAN AND RAISES FISCAL 2026 ADJUSTED OPERATING INCOME OUTLOOK TO $95 MILLION TO $110 MILLION

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November 6, 2025 · 6:55 AM UTC

UNDER ARMOUR REPORTS SECOND QUARTER FISCAL 2026 RESULTS; PROVIDES FISCAL 2026 OUTLOOK

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October 16, 2025 · 4:30 PM UTC

UNDER ARMOUR ANNOUNCES SECOND QUARTER FISCAL 2026 EARNINGS CONFERENCE CALL DATE

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