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Designs and markets athletic apparel, footwear and accessories under the Under Armour brand.
Designs and markets athletic apparel, footwear and accessories under the Under Armour brand.
Sells through wholesale to retailers and through its own stores and website, with North America the largest market. Founder Kevin Plank keeps control through supervoting Class B shares; the Class C shares carry no vote. It has been through repeated restructurings to cut costs and rebuild the brand.
Moat: narrow (brand). Recognized performance-apparel brand but has lost share to Nike, Lululemon and On in recent years.
Headquarters: Baltimore, Maryland, US · Founded: 1996 · Employees: 14,100
Size Under Armour (UA) is a United States Consumer Discretionary company (Apparel/Footwear) with a market value of $2.23B, the 1725th largest of 3,117 United States companies the cockpit tracks. Shares closed at $5.09 on 6 Nov 2026.
Performance Over six months the shares fell 18.6%, against +2.0% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 3.2% over the last twelve months (peer median +4.2%); the operating margin is 0.7% (peer median 9.4%).
Valuation It trades at 83.9× forward earnings against a peer median of 13.6× (most expensive of 20).
Capital Return on invested capital runs 8.6 points below its cost of capital (9.7% WACC).
Credit Under Armour has 1 bond outstanding ($400M), rated BB- by the agencies and trading like B+ at a weighted spread of 325 bp.
Short interest Short interest is 12.0% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.95B | $4.99B | $5.17B | $5.69B | $5.86B |
| Revenue growth | — | -3% | -9% | -3% | — |
| Gross profit | $2.30B | $2.18B | $2.47B | $2.63B | $2.60B |
| EBITDA | $139M | $235M | $307M | $375M | $355M |
| Net income | -$492M | -$496M | -$201M | $232M | $374M |
| Free cash flow | -$75.4M | -$162M | -$230M | $204M | -$198M |
| Capital expenditure | $66.3M | $87.1M | $169M | $150M | $158M |
| Total debt | $1.38B | $1.94B | $1.30B | $1.44B | $1.52B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Under Armour UA | $2.23B | -19% | -3% | 1% | 83.9× | n/a |
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
| Lululemon Athletica LULU | $12.8B | -16% | +2% | 18% | 13.4× | -8.9% |
| adidas ADS.DE | $33.2B | +19% | +8% | 9% | 18.3× | 3.5% |
| Puma PUM.DE | $4.42B | +4% | -19% | -6% | n/a | n/a |
| On Holding AG Class A ONON | $12.3B | +6% | +29% | 14% | 20.0× | 22.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | UA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.4% | +4.0% | 9th highest of 21 |
| 6-month return | -18.6% | +2.0% | lowest of 21 |
| Distance from 52-week high | -35.6% | -20.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | -3.2% | +4.2% | 5th lowest of 21 |
| Operating margin | 0.7% | 9.4% | 2nd lowest of 21 |
| Forward P/E | 83.9× | 13.6× | most expensive of 20 |
| ROIC minus cost of capital | -8.6 pp | +7.2 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 7.0× | -0.4× | most indebted of 19 |
| Bond spread | 325 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Under Armour UA | United States | $2.23B | -19% | -3% | 1% | 83.9× | n/a | n/a |
| Youngone 111770.KS | South Korea | $2.27B | -13% | +15% | 14% | 5.5× | n/a | n/a |
| Pou Chen 9904.TW | Taiwan | $2.29B | 0% | -7% | 3% | 7.3× | 5.9% | +0.1% |
| Mizuno 8022.T | Japan | $2.10B | +27% | +10% | 9% | 15.9× | 4.9% | +11.5% |
| Feng Tay Enterprise 9910.TW | Taiwan | $2.08B | 0% | -4% | 7% | 15.0× | -5.9% | +3.9% |
| Zhejiang Semir Garment 002563.SZ | China | $2.42B | -1% | +4% | 7% | 14.8× | -8.1% | -0.1% |
| BIEM.L.FDLKK Garment 002832.SZ | China | $2.46B | +42% | +23% | 15% | 20.4× | 0.0% | +13.3% |
| Goldwin 8111.T | Japan | $1.93B | -1% | +4% | 18% | 12.7× | -6.3% | +8.7% |
| Vestis VSTS | United States | $1.88B | +54% | 0% | 4% | 20.0× | 15.8% | +1.3% |
| Yue Yuen Industrial (Holdings) 0551.HK | Hong Kong | $2.75B | -7% | -3% | 3% | 13.6× | 2.4% | -0.9% |
| F&F 383220.KS | South Korea | $1.80B | -3% | +7% | 25% | 5.1× | n/a | n/a |
| Wolverine World Wide WWW | United States | $1.75B | +28% | +7% | 9% | 12.1× | 9.1% | +0.9% |
| Star Shine 1440.HK | Hong Kong | $2.85B | +34% | -33% | -3% | n/a | n/a | n/a |
| Eclat Textile 1476.TW | Taiwan | $2.88B | +3% | 0% | 20% | 13.7× | -8.9% | +6.2% |
| Steven Madden SHOO | United States | $2.89B | -3% | +18% | 9% | 17.5× | 5.9% | +16.1% |
| Hugo Boss BOSS.DE | Germany | $2.90B | +8% | -5% | 8% | 15.4× | -6.6% | +17.0% |
| Crystal International 2232.HK | Hong Kong | $2.92B | +23% | +4% | 10% | 11.4× | -5.3% | +6.0% |
| Makalot Industrial 1477.TW | Taiwan | $1.59B | +1% | -2% | 14% | 12.8× | -8.0% | +6.7% |
| Misto 081660.KS | South Korea | $1.51B | -5% | +8% | 13% | 6.4× | -13.9% | +7.4% |
| FIGS FIGS | United States | $3.29B | +37% | +25% | 10% | 54.0× | 25.5% | +19.1% |
| JNBY Design 3306.HK | Hong Kong | $1.47B | +7% | +12% | 20% | 9.4× | -7.4% | +6.9% |
Under Armour has 1 bond outstanding with $400M face value. The agencies rate it BB-; its bonds trade like B+. Weighted yield 7.81%, a spread of 325 bp over government bonds.