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Primary reporting period: 2026-03-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Under Armour, Inc. (UAA) specializes in the design, promotion, and distribution of athletic clothing, footwear, and accessories for men, women, and young people. Its apparel collection includes various fits such as compression, fitted, and loose styles. Additionally, the firm produces specialized footwear designed for running, training, basketball, cleated sports, post-exercise recovery, and outdoor activities.
How they make money
Under Armour generates revenue by designing, developing, marketing, and distributing branded performance apparel, footwear, and accessories. The company sells these products globally through a combination of wholesale channels, including sporting goods retailers and department stores, and direct-to-consumer channels, including its own retail stores and e-commerce platforms.
Products & services
Performance apparel, footwear, and accessories designed for athletes and active consumers, featuring proprietary fabric technologies like HeatGear and ColdGear.
Brands & revenue mix
Under Armour
The primary brand under which the company markets its performance apparel, footwear, and accessories.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Direct-to-consumer (retail stores and e-commerce)Source
Customer concentration
No single customer accounted for more than 10% of the Company's net revenues for Fiscal 2026.
Suppliers, materials & equipment
Contract Manufacturers — The company utilizes various third-party contract manufacturers to produce its apparel, footwear, and accessories; specific supplier names are not disclosed.Source
Competitors
Nike, Inc. — Global competitor in the design, development, and marketing of athletic footwear, apparel, and equipment.Source
Adidas AG — Global competitor in the design, development, and marketing of athletic footwear, apparel, and accessories.Source
Strengths
Strong brand recognition and intellectual property portfolio including HeatGear and ColdGear technologies.Source
Risks
Dependence on third-party contract manufacturers and potential supply chain disruptions.Source
Intense competition in the global athletic apparel and footwear market.Source
Overall investment score · Quality, value, risk and opportunity
19
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
16
Poor
Financial Strength
29
Business Quality / Moat
6
Management
0
Growth Quality
27
Risk / Durability
20
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
32
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
37/100
Building Historical Record
Model Score 37/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Insider activity signal is favorable
•Recent buyback activity is present
What to watch
•Debt service risk
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for UAA
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•What is driving UAA's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
•How long can UAA fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Is UAA's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What specifically needs to improve for UAA to reach sustainable profitability?
•What future growth or profitability would be needed to justify UAA's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for UAA
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Debt service risk
Interest coverage is low (~-1.2x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on UAA.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Strong brand recognition and intellectual property portfolio including HeatGear and ColdGear technologies.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Apparel - Manufacturers industry.
−Dependence on third-party contract manufacturers and potential supply chain disruptions.
−Intense competition in the global athletic apparel and footwear market.
−Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Very Weak19/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Weak
41
Debt Cost1.6%
Debt Reduction YoY-49.3%
Debt / Equity1.37x
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Revenue
Poor
20
Revenue YoY-0.4%
Revenue CAGR-6.7%
Net Margin-10.0%
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Asset
Fair
55
Asset Growth YoY2.7%
Liquidation/Share$3.35
Net Assets/MCap1.38x
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Capital
Poor
27
Earnings Yield-24.9%
Buyback Yield4.0%
Debt Cost1.6%
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Management
Poor
0
ROIC-1.5%
ROE-34.5%
ROA-12.0%
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Moat
Poor
6
EPS Growth—
FCF/Share Growth—
Rev/Share Growth-0.2%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Poor
24
Revenue20
Moat6
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
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Financial
Poor
25
Interest Coverage-1.2x
ROIC-1.5%
FCF Yield-8.2%
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Master
Poor
19
Financial25
Valuation0
Debt41
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Resilience
Poor
27
Survival Years1.9 yrs
Current Ratio1.62x
FCF Margin-3.3%
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Score Changes
2 historical score records available
Previous Score
17
Jul 24, 2026
Change
+2.0
points
Current Score
19
Oct 1, 2026
Category Changes
Revenue+2.3
Debt0
Assets+10.7
Capital+9.0
Management0
Moat0
Valuation0
Buffett+2.1
UAA increased 2 points because Revenue improved by 2.3 points, Asset improved by 10.7 points, Capital improved by 9 points.
Positive Contributors
+ Revenue improved by 2.3 points
+ Asset improved by 10.7 points
+ Capital improved by 9 points
+ Buffett improved by 2.1 points
Projected Score
Projected Score
16
Projected Change
-2.8 points
Preliminary comparable-period financial changes suggest decline of approximately 2.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$4.99
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2026
2025
2024
2023
2022
2021
2019
2018
2017
2016
Revenue
$4.95B
$4.97B
$5.17B
$5.70B
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····
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····
····
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Cost of Revenue
$2.62B
$2.71B
$2.69B
$3.07B
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····
····
····
····
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Gross Profit
$2.32B
$2.26B
$2.47B
$2.63B
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····
····
····
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Research & Development
$0.00
$0.00
$0.00
$0.00
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····
····
····
····
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SG&A Expenses
$2.31B
$2.29B
$2.30B
$2.40B
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····
····
····
····
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Operating Expenses
$2.31B
$2.29B
$2.30B
$2.40B
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····
····
····
····
····
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EBITDA
-$75.2M
-$61.0M
-$62.3M
$404.6M
····
····
····
····
····
····
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Operating Income
$14.6M
-$35.4M
$171.1M
$229.8M
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····
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····
····
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Interest Expense
$36.9M
$30.3M
$6.1M
$0.00
····
····
····
····
····
····
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Income Before Tax
-$166.5M
-$200.9M
-$204.2M
$262.0M
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····
····
····
····
····
····
Income Tax Expense
$325.7M
$294.8M
-$2.9M
$30.0M
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····
····
····
····
····
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Net Income
-$492.5M
-$495.6M
-$201.3M
$232.0M
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····
····
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Basic EPS
$-1.15
$-1.16
$-0.47
$0.53
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Basic Shares
428M
427M
432M
440M
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····
····
····
····
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Diluted Shares
432M
427M
432M
451M
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····
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····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Potential Score Impact
Positive indicators included net income margin. Pressure indicators included revenue growth, EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 3.4%. EPS declined 121.3%. Cash was essentially unchanged. Total debt was essentially unchanged. Net income margin improved by 0.3 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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