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NEW YORK STOCK EXCHANGE, INC. · Textiles, Apparel & Luxury Goods · CIK 0001336917
$4.88
+4.50% · live
Updated
$2.08B market value
From Under Armour, Inc.'s FY2026 10-K, filed May 19, 2026 · read the filing
Under Armour makes clothing. It took in $4.97B last year, which makes it a mid-sized company. It spends more than it earns — losing about 10 cents on every dollar of sales.
The financial picture is led by accounting, while profitability, growth and debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 1.77
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Several areas of financial weakness.
From Under Armour, Inc.'s FY2026 annual filing · share price scored separately
Largest year-over-year changes in FY2026
Profit
-$201.3M → -$495.6M
Earnings per share
-$0.47 → -$1.16
Capital spending
$168.7M → $87.1M
Profit margin
-3.9% → -10.0%
Measured against FY2025, from the 10-K filed May 19, 2026
Deteriorated: $294.4M wider
-$201.3M to -$495.6MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
UAA rose 4.50% on the latest quote. The average Consumer Discretionary company tracked here moved +2.31%, and the S&P 500 −1.04%. That is 2.2 points above its sector and 5.5 points above the market.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 15.3% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $495.6M last year, losing about 10 cents on every dollar of sales.
No. Sales shrank 3.8% last year.
Yes — it carries debt while operations are consuming cash rather than generating it. For every $1 it owes, it owns $1.47 in assets. Its operating profit does not cover its interest bill — -3.08x against the interest it owes. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2026 annual filing
Last year it lost $495.6M and generated -$75.1M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202610-K · May 19, 2026Filing for FY2026 | FY202510-K · May 19, 2026Filing for FY2025 | FY202410-K · May 19, 2026Filing for FY2024 | FY202310-K · May 22, 2025Filing for FY2023 | FY202210-K · May 29, 2024Filing for FY2022 | ChangeFY2026 vs FY2025 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $4.97B | $5.16B | $5.70B | $5.90B | — | −3.8% |
| Cost of revenue | $2.71B | $2.69B | $3.07B | $3.26B | — | +0.7% |
| Gross profit | $2.26B | $2.47B | $2.63B | $2.64B | — | −8.7% |
| Gross marginGross profit ÷ revenueWhat is this? | 45.5% | 47.9% | 46.1% | 44.8% | — | −2.4 pts |
| Selling, general and administrative | $2.29B | $2.60B | $2.40B | $2.38B | — | −11.8% |
| Operating income | -$163.1M | -$185.2M | $229.8M | $263.6M | — | +11.9% |
| Operating marginOperating income ÷ revenueWhat is this? | -3.3% | -3.6% | 4.0% | 4.5% | — | +0.3 pts |
| Interest expense | $52.9M | $24.6M | $22.8M | $24.1M | — | +115.0% |
| Income before tax | -$200.7M | -$204.8M | $262.1M | $267.9M | — | +2.0% |
| Net income | -$495.6M | -$201.3M | $232.0M | $374.5M | — | −146.3% |
| Net marginNet income ÷ revenueWhat is this? | -10.0% | -3.9% | 4.1% | 6.3% | — | −6.1 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-1.16 | $-0.4656 | $0.527 | $0.8295 | — | −149.5% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 7,864 shares
Holds 361,010 shares after this filing.
Was granted or awarded shares — 14,625 shares
Holds 278,885 shares after this filing.
Was granted or awarded shares — 1,104 shares
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Held a shareholder vote
Read the filingQuarterly report for Q1 FY2027
Operating margin +4.0 pts · Operating income +1306.5% · Profit turned positive — against Q1 FY2026
Read the filingWrite down why you are following Under Armour, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 5 subsidiaries named in its 10-K, incorporated across 4 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Source: Exhibit 21 of the 10-K filed 2026-05-19. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from UAA's 10-K for fiscal year 2026 (period ending 2026-03-31, filed May 19, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2026 | 4.0 | 3/9 | 10-K, filed May 19, 2026 |
| FY2025 | 4.0 | 4/9 | 10-K, filed May 22, 2025 |
| FY2024 | 7.0 | 7/9 | 10-K, filed May 29, 2024 |
| FY2023 | 8.0 | 2/5 | 10-K, filed May 29, 2024 |
| FY2022 | 10.0 | 0/2 | 10-K, filed May 24, 2023 |
| FY2021 | 9.0 | 8/9 | 10-K, filed Feb 23, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
3 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
1.77
In the distress zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-3.03
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2026 filing as filed with the SEC.
Deteriorated: $0.70 wider
-$0.47 to -$1.16Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Changed: -48.4%
$168.7M to $87.1MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: −6.1 pts
-3.9% to -10.0%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $65.8M narrower
-$228.0M to -$162.2MSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -38.3%
$501.4M to $309.2MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -8.7%
$2.47B to $2.26BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: $22.1M narrower
-$185.2M to -$163.1MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: −2.4 pts
47.9% to 45.5%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: -1.3%
432.2M to 426.6MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q1 FY2027 against Q1 FY2026, from the 10-Q filed Aug 7, 2026 — read it.
Improved: +1306.5%
$3.3M to $46.7MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$2.6M to $545.0KCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +600.8%
$13.5M to $94.5MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$0.01 to $0.00Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +51.8%
$389.5M to $591.2MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: -56.5%
$911.0M to $396.0MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: -58.7%
$35.4M to $14.6MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +5.9 pts
48.2% to 54.1%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +4.0 pts
0.3% to 4.3%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +8.7%
$546.5M to $593.8MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
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Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Holds 140,198 shares after this filing.
Was granted or awarded shares — 6,071 shares
Holds 220,595 shares after this filing.
Was granted or awarded shares — 6,347 shares
Holds 213,782 shares after this filing.
Was granted or awarded shares — 6,071 shares
Holds 220,595 shares after this filing.
Was granted or awarded shares — 5,519 shares
Holds 161,995 shares after this filing.
Was granted or awarded shares — 29,880 shares
Holds 156,476 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 86,574 shares ($428.0K) on or after .
Shares originally obtained via PSU / RSU - See Remarks.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results
Proxy statement for a shareholder meeting
Read the filingAnnual report for FY2026
Profit margin −6.1 pts · Profit $294.4M wider · Earnings per share $0.70 wider — against FY2025
Read the filingAnnounced restructuring or exit costs · Published results
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2026
Revenue -5.2% · Operating margin −12.2 pts · Operating income turned negative — against Q3 FY2025
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingAnnounced restructuring or exit costs · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Operating margin −11.1 pts · Operating income -90.2% · Profit turned negative — against Q2 FY2025
Read the filingHad a director or senior officer leave or join · Published results · Reported another event
Read the filingHeld a shareholder vote
Read the filingTerminated a material agreement
Read the filingQuarterly report for Q1 FY2026
Operating margin +25.6 pts · Operating income turned positive · Profit $302.8M narrower — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingSigned a material agreement · Took on a direct financial obligation · Made a Regulation FD disclosure
Read the filingSigned a material agreement · Took on a direct financial obligation · Made a Regulation FD disclosure
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