UANYSEApparel & Other Finishd Prods of Fabrics & Similar MatlUS GAAP · USD

Under Armour, Inc.

Under Armour, Inc. develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth. The company sells through wholesale partners, its own Brand and Factory House stores, and e-commerce, with operations organized across North America, EMEA, Asia-Pacific, and Latin America.

Kysy yhtiöstä
Liikevaihto4 966milj. USD
−3,8 %v/v
Liikevoitto (EBIT)−163milj. USD
+11,9 %v/v
EBIT-marginaali−3,3%
+0,3 %-yks.v/v
Nettotulos−496milj. USD
−146,3 %v/v
Vapaa kassavirta−162milj. USD
+28,9 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−2 00002 0004 0006 000milj. USD2021: 5 683 milj. USD2021: EBIT 486 milj. USD202120222023: 5 904 milj. USD2023: EBIT 284 milj. USD20232024: 5 702 milj. USD2024: EBIT 230 milj. USD20242025: 5 164 milj. USD2025: EBIT −185 milj. USD20252026: 4 966 milj. USD2026: EBIT −163 milj. USD20264 966−163
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Apparel55 %

Branded performance clothing for training, sport, and active wear.

Footwear30 %

Athletic shoes and related footwear products sold under the Under Armour brand.

Accessories10 %

Bags, gloves, headwear, and other branded accessories.

Direct-to-Consumer5 %

Sales through owned stores and e-commerce channels.

Tuotteet

Raportoitu · osuus liikevaihdosta
66,8%23,4%FY2025100 %
  • Apparel66,8 %
  • Footwear23,4 %
  • Accessories8,0 %
  • License1,8 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Under Armour sells to individual consumers who buy performance-oriented sportswear for training, sport, and active lifestyles. It also sells to wholesale accounts such as sporting goods chains, specialty retailers, department stores, institutional athletic departments, leagues, and teams. In some markets, independent distributors and licensees extend the brand where the company does not operate directly.

Direct consumers

Buy apparel, footwear, and accessories through e-commerce and company stores for sport and lifestyle use.

Wholesale retail accounts

National and regional sporting goods chains, specialty retailers, and department stores buy branded assortments for resale.

Institutional teams and athletic departments

Colleges, leagues, and teams buy outfitting products and branded gear for athletes and staff.

International distributors and licensees

Partners sell Under Armour products in markets where the company does not have direct operations.

Strategia

Under Armour’s strategy centers on premium brand-right growth through apparel, footwear, accessories, and a larger direct-to-consumer presence. The company also emphasizes wholesale expansion, digital engagement, and tighter inventory management to improve execution across channels and regions.

Grow direct-to-consumer and digital commerceKeskipitkä aikaväli

Owned channels improve brand control, consumer data, and margin mix.

Protect premium brand positioning in wholesaleLyhyt aikaväli

Shelf space and presentation influence sell-through and brand perception.

Improve inventory efficiencyLyhyt aikaväli

Better forecasting and supply planning reduce excess stock and markdown pressure.

Expand international reachKeskipitkä aikaväli

Regional diversification broadens the brand and reduces reliance on one market.

Maantiede

Under Armour organizes its business across four operating regions: North America, EMEA, Asia-Pacific, and Latin America. North America is the core market, while the other regions support international brand reach through wholesale, direct-to-consumer, distributors, and licensees. Geography matters because demand, channel mix, and retail execution differ by region, and the company’s disclosures highlight North America and Asia-Pacific as especially important to performance.

Riskit

Under Armour depends on discretionary consumer spending and large wholesale customers, so demand can weaken when economic conditions soften or retailers reduce orders. The business is also exposed to channel mix shifts, inventory and markdown risk, and execution risk in digital commerce and brand presentation. Because the company sells globally, it also faces regional demand volatility, supply-chain disruption, and foreign currency and tax complexity.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Wholesale customer concentration1Dependence on discretionary consumer spending2Inventory and markdown risk3Global operating and supply-chain disruption4Retail consolidation and customer loss5Digital commerce and brand execution risk6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Wholesale customer concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    A significant portion of revenue comes from a limited number of large accounts without long-term contracts.

    KohdistuuNational and regional sporting goods chainsDepartment stores
  2. Dependence on discretionary consumer spendingVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Apparel and footwear purchases can be delayed when inflation or recession pressures budgets.

    KohdistuuGlobal consumer demandEspecially in North America
  3. Inventory and markdown riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Excess or slow-moving product must be sold through Factory House or liquidation channels, pressuring sell-through.

    Kohdistuu: Apparel and footwear inventory

  4. Global operating and supply-chain disruptionVaikutus: KeskitasoTodennäköisyys: Korkea

    International sourcing and distribution can be affected by logistics, public health events, and geopolitical issues.

    KohdistuuAsia-PacificGlobal supply chain
  5. Retail consolidation and customer lossVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Consolidation in sports specialty retail can reduce alternative outlets if a key account cuts orders.

    Kohdistuu: Wholesale channel

  6. Digital commerce and brand execution riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Poor online experience or weak in-store presentation can hurt conversion and brand perception.

    Kohdistuu: E-commerce and owned retail

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition and customer refund liabilities

Sales are recorded net of estimated returns, allowances, markdowns, and discounts, which can change reported revenue.

Vaikutus: Customer refund liability and related inventory reserve balances

Seasonality

Revenue is historically concentrated in the last two quarters, affecting quarterly comparability and working capital needs.

Vaikutus: Quarter-to-quarter revenue and inventory swings

Deferred tax asset valuation allowances

Realizability depends on future taxable income and can materially change tax expense.

Vaikutus: Income tax expense and effective tax rate

Goodwill impairment

Reporting unit fair value is estimated using discounted cash flows and key assumptions.

Vaikutus: Potential non-cash impairment charges

Stock-based compensation

Expense depends on valuation inputs and performance target achievement assumptions.

Vaikutus: Operating expense and diluted share count

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Päivitetty: 24.9.2026

Under Armour, Inc. (UA) liikevaihto, tulos ja tunnusluvut 2026 – Clarifo