# Under Armour, Inc. (UA)

> Source: Nexqual · https://nexqual.com/UA · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Under Armour, Inc. (UA), nexqual.com/UA" · informational, not investment advice.

**Price:** USD 4.61 (+1.32% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 4.55 · day 4.52–4.63 · 52w 3.95–7.91 · market cap $1.98B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.93B, net income -$492M (-10.0% margin), free cash flow -$81.1M (SEC filings).
- 1 of 80 tracked superinvestors hold UA (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: None.
- Total return with dividends: 1Y +3.4% vs S&P 500 +13.6%; 5Y -75.6% vs S&P 500 +79.8%.
- Next earnings: 2026-11-06, EPS estimate USD —, revenue estimate $1.22B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.68B | $5.90B | $5.70B | $5.16B | $4.97B | $4.93B |
| Gross profit | $2.86B | $2.64B | $2.63B | $2.47B | $2.26B | — |
| Operating income | $475M | $264M | $230M | -$185M | -$163M | -$120M |
| Net income | $351M | $374M | $232M | -$201M | -$496M | -$492M |
| EPS (diluted) | $0.75 | $0.81 | $0.52 | -$0.47 | -$1.16 | — |
| Free cash flow | $595M | -$198M | $204M | -$228M | -$162M | -$81.1M |
| Gross margin | 50.3% | 44.8% | 46.1% | 47.9% | 45.5% | — |
| Operating margin | 8.4% | 4.5% | 4.0% | -3.6% | -3.3% | -2.4% |
| Net margin | 6.2% | 6.3% | 4.1% | -3.9% | -10.0% | -10.0% |
| Revenue growth | +27.0% | — | -3.4% | -9.4% | -3.8% | — |
| Cash + short-term investments | $1.67B | $711M | $859M | $501M | $309M | — |
| Total debt | $663M | $674M | $676M | $595M | $1.19B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.4x · EV/Sales 0.4x · P/B 1.4x · FCF yield -4.10% · Earnings yield -24.87% · Net debt $195M · EV $2.18B
P/E at fiscal year-ends: Mar 2024 13.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold UA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Prem Watsa | Fairfax Financial Holdings | 16.16% | $426M | Added +3.6% |

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +3.4% | -75.6% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +3.4% | -24.5% |
| Volatility (annualized) | 53.4% | 49.0% |
| Max drawdown | -46.5% (Feb 2026→Sep 2026) | -81.9% (Nov 2021→Nov 2025) |

## Peers (Apparel Manufacturing)
COLM (Columbia Sportswear Company) USD 60.9 -0.44% · GIII (G-III Apparel Group, LTD.) USD 29.25 -1.75% · FIGS (FIGS, Inc.) USD 20.66 +0.88% · ZGN (Ermenegildo Zegna N.V.) USD 13.28 -0.67% · PVH (PVH Corp.) USD 85.25 -0.42% · KTB (Kontoor Brands, Inc.) USD 74.37 -0.65%

## More
Full page: https://nexqual.com/UA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-07)

- "The company has updated its fiscal 2027 outlook."
- "Compared with fiscal 2026, key highlights of the company's outlook include: • Revenue is now expected to decline at a mid-single-digit percentage rate compared with the prior outlook of a slight decline."
- "The updated outlook incorporates a mid-single-digit percent decline in North America (prior low-single-digit decline), and low-single-digit declines in both Asia-Pacific (prior low-single-digit increase) and EMEA (prior low-single-digit increase). • Gross Margin is still expected to increase 220 to 270 basis points versus the prior year's gross margin."
- "The updated outlook reflects actions to align operating expenses with the current demand environment while continuing to prioritize the company's highest-return strategic investments. • Operating Income is still expected to be in the range of $96 million to $116 million."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | — | — | — | $1.22B | — |
| Next quarter (ends 2026-12-31) | — | — | — | $1.27B | — |
| Current fiscal year (ends 2027-03-31) | — | — | — | $4.73B | — |
| Next fiscal year (ends 2028-03-31) | — | — | — | $4.83B | — |

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-01 | Schedule 13G | Frasers Group plc, MASH Beta Limited: 8.8% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1336917/000203406726000005/0002034067-26-000005-index.htm |
| 2026-08-27 | 8-K | Shareholder vote results | https://www.sec.gov/Archives/edgar/data/1336917/000133691726000119/0001336917-26-000119-index.htm |
| 2026-08-07 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1336917/000133691726000111/0001336917-26-000111-index.htm |
| 2026-08-07 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1336917/000133691726000108/0001336917-26-000108-index.htm |
| 2026-07-30 | Schedule 13G/A | BlackRock, Inc.: 14.3% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1336917/000201238326003168/0002012383-26-003168-index.htm |
| 2026-07-15 | DEFA14A | Additional proxy material | https://www.sec.gov/Archives/edgar/data/1336917/000114036126028557/0001140361-26-028557-index.htm |
| 2026-07-15 | DEF 14A | Proxy statement (pay, board, votes) · period ended Aug 26, 2026 | https://www.sec.gov/Archives/edgar/data/1336917/000133691726000102/0001336917-26-000102-index.htm |
| 2026-07-08 | Schedule 13G/A | BlackRock, Inc.: 10.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1336917/000201238326001972/0002012383-26-001972-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.