Under Armour, Inc.

Consumer Discretionary
Apparel
www.underarmour.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.64B
PE -172
Debt $600.00M
Cash $549.85M
EV $3.69B
FCF -$36.37M

Earnings

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Sales & Net Margins

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Earnings	-$21.17M
EBIT	-$2.32M
ROE	-1%
ROA	-0%
FCF	-$36.37M
Equity	$1.99B
Growth Stability	-31%
PE	-171.95
PEG	-30.14
PB	1.83
P/FCF	-100.05
P/S	0.67
Price/Cash	0.15
Debt/Equity	0.3
Debt/FCF	-16.5
Net Margins	-5%
Gross Margins	47%
Op. Margins	-0%
Earnings CAGR	3%
Sales Growth YoY	-11%
Sales Growth QoQ	18%
Sales CAGR	-7%
FCF CAGR	3%
Equity CAGR	1%
Earnings Stability	0.02
Earnings Growth YoY	55%
Earnings Growth QoQ	-156%

Earnings CAGR 5Y	6%
Sales CAGR 5Y	3%
FCF CAGR 5Y	4%
Equity CAGR 5Y	5%
Earnings CAGR 3Y	147%
Sales CAGR 3Y	147%
FCF CAGR 3Y	-11%
Equity CAGR 3Y	4%
Market Cap	$3.64B
Revenue	$5.40B
Assets	$4.49B
Total Debt	$600.00M
Cash	$549.85M
Shares Outstanding	432.23M
EV	3.69B
Earnings Score	6%
Moat Score	12%
Safety Score	39%
Final Score	19%
Working Capital	1.39B
Current Ratio	2.18
Gross Profit	$2.53B
Shares Growth 3y	-3%
Equity Growth QoQ	9%
Equity Growth YoY	-5%

Assets & ROA

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Stockholders Equity & ROE

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Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories. Consumers of its apparel include professional and amateur athletes, sponsored college and professional teams, and people with active lifestyles. The company sells merchandise through wholesale and direct-to-consumer channels, including e-commerce and more than 400 total global factory house and brand house stores. Under Armour also operates a digital fitness app called MapMyFitness. The Baltimore-based company was founded in 1996.

SEC Filings

Direct access to Under Armour, Inc. (UAA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30

Sector Comparison

How does Under Armour, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Under Armour, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 2%

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Under Armour, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Under Armour, Inc..

Years

Calculation mode

= -$438M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$36M	-$37M	-$38M	-$39M	-$41M	-$42M	-$43M	-$44M	-$45M	-$46M	-$48M	-$476M
DCF		-$34M	-$32M	-$30M	-$28M	-$26M	-$24M	-$23M	-$21M	-$20M	-$18M	-$184M
Value	-$438M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	03/2023	03/2024	TTM
Net Margins	6%	5%	-1%	-1%	2%	-12%	7%	4%	-5%
ROA	-	11%	1%	-1%	5%	-12%	6%	6%	-0%
ROE	-	13%	-2%	-2%	4%	-33%	19%	11%	-1%

Bad Net Margins (-5.23%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	03/2023	03/2024	TTM
Debt over FCF	-	-71.44	-17.52	1.66	1.65	9.12	-3.44	3.74	-16.5
Debt over Equity	0.43	0.42	0.41	0.38	0.28	0.66	0.34	0.35	0.3
Growth Stability	-	-	-	-31%	100%	-	-	-	-31%

Good Debt/FCF ratio (-16.5)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.3)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-31%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	03/2023	03/2024	CAGR 5Y
Revenue YoY growth	-	22%	3%	4%	1%	-15%	32%	-3%	3%
Earnings YoY growth	-	10%	-119%	-4%	-299%	-696%	-170%	-40%	6%
Equity YoY growth	-	22%	-1%	-0%	7%	-22%	19%	8%	5%
FCF YoY growth	-	-97%	295%	-1K%	-21%	-67%	-264%	-203%	4%