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Stocks · Consumer discretionary · Apparel & Other Finishd Prods of Fabrics & Similar Matl

Under Armour, Inc.

UA Clue Score32
United States Fiscal year ends March CIK 0001336917
$4.78 +0.84% Close, 9 Oct 2026
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Price $4.78 −72.62% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue4,833.3Operating income417.5Net income257.0Fiscal year 2017Revenue4,989.2 +3.2%Operating income27.8Net income−48.3 −118.8%EPS, diluted−0.11Fiscal year 2018Revenue5,193.2 +4.1%Operating income−25.0Net income−46.3EPS, diluted−0.10Fiscal year 2019Revenue5,267.1 +1.4%Operating income236.8Net income92.1EPS, diluted0.20Fiscal year 2020Revenue4,474.7 −15.0%Operating income−613.4Net income−549.2 −696.0%EPS, diluted−1.21 −705.0%Fiscal year 2021Revenue5,682.6 +27.0%Operating income475.2Net income351.0EPS, diluted0.75Fiscal year 2023Revenue5,903.2 +3.9%Operating income263.6Net income374.5 +6.7%EPS, diluted0.81 +8.0%Fiscal year 2024Revenue5,701.9 −3.4%Operating income229.8Net income232.0 −38.0%EPS, diluted0.52 −35.8%Fiscal year 2025Revenue5,164.3 −9.4%Operating income−185.2Net income−201.3 −186.7%EPS, diluted−0.47 −190.4%Fiscal year 2026Revenue4,966.4 −3.8%Operating income−163.1Net income−495.6EPS, diluted−1.16
FY2016FY2017FY2018FY2019FY2020FY2021FY2023FY2024FY2025FY2026
Revenue 4,833.3 4,989.2 5,193.2 5,267.1 4,474.7 5,682.6 5,903.2 5,701.9 5,164.3 4,966.4
Growth +3.2% +4.1% +1.4% −15.0% +27.0% +3.9% −3.4% −9.4% −3.8%
Operating income 417.5 27.8 −25.0 236.8 −613.4 475.2 263.6 229.8 −185.2 −163.1
Net income 257.0 −48.3 −46.3 92.1 −549.2 351.0 374.5 232.0 −201.3 −495.6
Growth −118.8% −696.0% +6.7% −38.0% −186.7%
EPS, diluted n/a −0.11 −0.10 0.20 −1.21 0.75 0.81 0.52 −0.47 −1.16
Growth −705.0% +8.0% −35.8% −190.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin46.5%Operating margin8.6%Net margin5.3%Free cash flow margin1.0%Fiscal year 2017Gross margin45.1%Operating margin0.6%Net margin−1.0%Free cash flow margin−0.9%Fiscal year 2018Gross margin45.1%Operating margin−0.5%Net margin−0.9%Free cash flow margin8.8%Fiscal year 2019Gross margin46.9%Operating margin4.5%Net margin1.7%Free cash flow margin6.9%Fiscal year 2020Gross margin48.3%Operating margin−13.7%Net margin−12.3%Free cash flow margin2.7%Fiscal year 2021Gross margin50.3%Operating margin8.4%Net margin6.2%Free cash flow margin10.5%Fiscal year 2023Gross margin44.8%Operating margin4.5%Net margin6.3%Free cash flow margin−3.4%Fiscal year 2024Gross margin46.1%Operating margin4.0%Net margin4.1%Free cash flow margin3.6%Fiscal year 2025Gross margin47.9%Operating margin−3.6%Net margin−3.9%Free cash flow margin−4.4%Fiscal year 2026Gross margin45.5%Operating margin−3.3%Net margin−10.0%Free cash flow margin−3.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2023FY2024FY2025FY2026
Gross margin 46.5% 45.1% 45.1% 46.9% 48.3% 50.3% 44.8% 46.1% 47.9% 45.5%
Operating margin 8.6% 0.6% −0.5% 4.5% −13.7% 8.4% 4.5% 4.0% −3.6% −3.3%
Net margin 5.3% −1.0% −0.9% 1.7% −12.3% 6.2% 6.3% 4.1% −3.9% −10.0%
Free cash flow margin 1.0% −0.9% 8.8% 6.9% 2.7% 10.5% −3.4% 3.6% −4.4% −3.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow366.6Capital expenditure−316.5Free cash flow50.2Dividends paid−2.9Fiscal year 2017Operating cash flow237.5Capital expenditure−281.3Free cash flow−43.9 −187.5%Dividends paid0.0Fiscal year 2018Operating cash flow628.2Capital expenditure−170.4Free cash flow457.8Dividends paid0.0Fiscal year 2019Operating cash flow509.0Capital expenditure−145.8Free cash flow363.2 −20.7%Fiscal year 2020Operating cash flow212.9Capital expenditure−92.3Free cash flow120.6 −66.8%Buybacks0.0Fiscal year 2021Operating cash flow660.6Capital expenditure−66.0Free cash flow594.5 +393.1%Buybacks0.0Fiscal year 2023Operating cash flow−39.9Capital expenditure−158.1Free cash flow−198.0 −133.3%Buybacks−125.0Fiscal year 2024Operating cash flow354.0Capital expenditure−150.3Free cash flow203.6Buybacks−75.0Fiscal year 2025Operating cash flow−59.3Capital expenditure−168.7Free cash flow−228.0 −212.0%Buybacks−90.0Fiscal year 2026Operating cash flow−75.1Capital expenditure−87.1Free cash flow−162.2Buybacks−25.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2023FY2024FY2025FY2026
Operating cash flow 366.6 237.5 628.2 509.0 212.9 660.6 −39.9 354.0 −59.3 −75.1
Capital expenditure −316.5 −281.3 −170.4 −145.8 −92.3 −66.0 −158.1 −150.3 −168.7 −87.1
Free cash flow 50.2 −43.9 457.8 363.2 120.6 594.5 −198.0 203.6 −228.0 −162.2
Growth −187.5% −20.7% −66.8% +393.1% −133.3% −212.0%
Buybacks n/a n/a n/a n/a 0.0 0.0 −125.0 −75.0 −90.0 −25.0
Dividends paid −2.9 0.0 0.0 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash250.5Total debt817.4Net cash (debt)−566.9Shareholders’ equity2,030.9Debt to equity0.40Fiscal year 2017Cash312.5Total debt792.0Net cash (debt)−479.6Shareholders’ equity2,018.6Debt to equity0.39Fiscal year 2018Cash557.4Total debt728.8Net cash (debt)−171.4Shareholders’ equity2,016.9Debt to equity0.36Fiscal year 2019Cash788.1Total debt592.7Net cash (debt)195.4Shareholders’ equity2,150.1Debt to equity0.28Fiscal year 2020Cash1,517.4Total debt1,003.6Net cash (debt)513.8Shareholders’ equity1,668.6Debt to equity0.60Fiscal year 2021Cash1,668.9Total debt662.5Net cash (debt)1,006.4Shareholders’ equity2,072.6Debt to equity0.32Fiscal year 2023Cash710.9Total debt674.5Net cash (debt)36.5Shareholders’ equity1,966.1Debt to equity0.34Fiscal year 2024Cash858.7Total debt675.8Net cash (debt)182.9Shareholders’ equity2,153.3Debt to equity0.31Fiscal year 2025Cash501.4Total debt595.1Net cash (debt)−93.8Shareholders’ equity1,890.3Debt to equity0.31Fiscal year 2026Cash309.2Total debt1,190.4Net cash (debt)−881.3Shareholders’ equity1,414.4Debt to equity0.84
FY2016FY2017FY2018FY2019FY2020FY2021FY2023FY2024FY2025FY2026
Cash 250.5 312.5 557.4 788.1 1,517.4 1,668.9 710.9 858.7 501.4 309.2
Total debt 817.4 792.0 728.8 592.7 1,003.6 662.5 674.5 675.8 595.1 1,190.4
Net cash (debt) −566.9 −479.6 −171.4 195.4 513.8 1,006.4 36.5 182.9 −93.8 −881.3
Shareholders’ equity 2,030.9 2,018.6 2,016.9 2,150.1 1,668.6 2,072.6 1,966.1 2,153.3 1,890.3 1,414.4
Debt to equity 0.40 0.39 0.36 0.28 0.60 0.32 0.34 0.31 0.31 0.84

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Margins
46.5% 45.1% 45.1% 46.9% 48.3% 50.3% 44.8% 46.1% 47.9% 45.5%
8.6% 0.6% −0.5% 4.5% −13.7% 8.4% 4.5% 4.0% −3.6% −3.3%
8.0% −0.2% −1.3% 4.0% −11.0% 6.7% 4.5% 4.6% −4.0% −4.0%
5.3% −1.0% −0.9% 1.7% −12.3% 6.2% 6.3% 4.1% −3.9% −10.0%
1.0% −0.9% 8.8% 6.9% 2.7% 10.5% −3.4% 3.6% −4.4% −3.3%
Spending
37.9% 42.1% 42.0% 42.4% 48.5% 41.3% 40.3% 42.1% 50.4% 46.2%
6.5% 5.6% 3.3% 2.8% 2.1% 1.2% 2.7% 2.6% 3.3% 1.8%
33.8% n/a n/a 33.4% n/a 7.9% −40.6% 11.4% n/a n/a
Returns
12.7% −2.4% −2.3% 4.3% −32.9% 16.9% 19.0% 10.8% −10.6% −35.0%
7.1% −1.2% −1.1% 1.9% −10.9% 7.0% 7.8% 4.9% −4.7% −11.2%
Balance and payout
0.40 0.39 0.36 0.28 0.60 0.32 0.34 0.31 0.31 0.84
44.3% 49.6% 52.5% 55.6% 66.7% 58.1% 59.3% 54.8% 56.0% 68.0%
1.1% n/a n/a n/a n/a n/a n/a n/a n/a n/a
5.8% n/a 0.0% n/a 0.0% 0.0% n/a 36.8% n/a n/a