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Under Armour (UA)
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Under Armour Income Statement 2026-2007 | UA
Brief overview of financial results at Under Armour
The conclusions below are based on five years of reported results. The revenue attributed to Under Armour moved from $5.7 billion to $5 billion between the two endpoints. The total change was −12.6%, with a CAGR of approximately −2.7%. Sales followed a declining trajectory over the five years.
Gross profit was 2.9 billion dollars at the start and 2.3 billion dollars at the end of the period (−21%). Direct costs outpaced revenue, limiting the benefit of changes in sales. Comparing the endpoints gives gross margins of 50.3% and 45.5%. The margin decline reflects a less favorable sales-and-cost structure.
Over the period, EBITDA shifted from $616 million to −$53.5 million, a change of −108.7%. EBITDA lagged revenue, showing weaker operating momentum. EBITDA margin was 10.8% at the start and −1.1% at the end. Cost pressure reduced operating profitability.
The net financial result changed from $351 million to −$496 million. The move from profit to loss indicates a material deterioration in final efficiency.
Over the period, capitalization shifted from 7.3 billion dollars to 2.1 billion dollars (−70.6%). Capitalization grew more slowly than the underlying results.
Overall conclusion
Signs of deterioration dominate the five-year picture. The main areas of concern are lower investor confidence, weaker operating efficiency and limited revenue growth. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Under Armour
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
2.14 B | 2.2 B | 2.96 B | 2.96 B | 3.09 B | 7.28 B | 8.26 B | 4.13 B | 4.2 B | - | - | - | - | - | - | - | - | - | - | - |
Shares |
427 M | 432 M | 440 M | 451 M | 471 M | 466 M | 454 M | 223 M | 221 M | - | - | - | - | - | - | - | 102 M | 49.8 M | 49.1 K | - |
Historical Prices |
5.02 | 5.1 | 6.73 | 6.55 | 6.55 | 15.6 | 18.2 | 12.5 | 20.1 | 15.1 | 18.6 | - | - | - | - | - | - | - | - | - |
Net Income |
-496 M | -201 M | 232 M | 374 M | 113 M | 351 M | -549 M | 92.1 M | -46.3 M | -48.3 M | 257 M | 233 M | 208 M | 162 M | 129 M | 96.9 M | 68.5 M | 46.8 M | 38.2 M | - |
Revenue |
4.97 B | 5.16 B | 5.7 B | 5.9 B | 1.58 B | 5.68 B | 4.47 B | 5.27 B | 5.19 B | 4.98 B | 4.83 B | 3.96 B | 3.08 B | 2.33 B | 1.83 B | 1.47 B | - | - | - | - |
Cost of Revenue |
2.71 B | 2.69 B | 3.07 B | 3.26 B | 885 M | 2.82 B | 2.31 B | 2.8 B | 2.85 B | 2.74 B | 2.58 B | - | - | - | - | - | - | - | - | - |
Gross Profit |
2.26 B | 2.47 B | 2.63 B | 2.64 B | 697 M | 2.86 B | 2.16 B | 2.47 B | 2.34 B | 2.24 B | 2.24 B | 1.91 B | 1.51 B | 1.14 B | 879 M | 713 M | 531 M | 410 M | 353 M | - |
Operating Income |
-163 M | -185 M | 230 M | 264 M | 89.5 M | 475 M | -613 M | 237 M | -25 M | 27.8 M | 417 M | 409 M | 354 M | 265 M | 209 M | 163 M | 112 M | 85.3 M | 76.9 M | - |
Interest Expense |
-7.28 M | -13.4 M | 32.1 M | 17.1 M | 42.8 M | -51 M | 168 M | -5.69 M | -9.2 M | -3.61 M | -2.76 M | -7.23 M | -6.41 M | -1.17 M | -73 K | -2.06 M | -1.18 M | -511 K | -6.18 M | - |
EBITDA |
-53.5 M | -49.4 M | 372 M | 399 M | 124 M | 616 M | -448 M | 423 M | 157 M | 202 M | 562 M | 509 M | 426 M | 316 M | 252 M | 199 M | 144 M | 114 M | 98.3 M | - |
Operating Expenses |
- | - | - | - | - | - | - | 2.23 B | 2.18 B | 2.09 B | 1.82 B | 1.5 B | 1.16 B | 872 M | 671 M | 550 M | - | - | - | - |
General and Administrative Expenses |
2.29 B | 2.6 B | 2.4 B | 2.38 B | 607 M | 2.34 B | 2.17 B | 2.23 B | 12.7 M | 2.09 B | 1.82 B | 1.5 B | 1.16 B | 872 M | 671 M | 550 M | 418 M | 325 M | 276 M | - |
All numbers in USD currency
Quarterly Income Statement Under Armour
| 2027-Q1 | 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
428 M | 425 M | 428 M | 427 M | 425 M | 428 M | 427 M | 436 M | 432 M | 432 M | 436 M | 445 M | 437 M | 444 M | 445 M | - | 449 M | 454 M | 458 M | 471 M | 476 M | 469 M | 465 M | 456 M | - | 455 M | 454 M | 453 M | - | 451 M | 451 M | 450 M | - | 447 M | 445 M | 443 M | - | 441 M | 440 M | 439 M | - | - | - | 434 M | - | 216 M | 216 M | 429 M | - | 214 M | 213 M | 212 M | - | 211 M | 211 M | 210 M | - | 105 M | 104 M | 104 M | - | 103 M | 103 M | 51.4 M | 50.9 M | 50.8 M |
Net Income |
545 K | -431 M | -18.8 M | -2.61 M | -431 M | -18.8 M | -2.61 M | -305 M | 1.23 M | 170 M | -305 M | 8.55 M | 111 M | 105 M | 10 M | - | 122 M | 86.9 M | 7.68 M | -59.6 M | 110 M | 282 M | 173 M | 77.8 M | 184 M | 38.9 M | -183 M | -590 M | -15.3 M | 102 M | -17.3 M | 22.5 M | 4.22 M | 75.3 M | -95.5 M | -30.2 M | -87.9 M | 54.2 M | -12.3 M | -2.27 M | 103 M | 128 M | 6.34 M | 19.2 M | 106 M | 100 M | 14.8 M | 11.7 M | 87.7 M | 89.1 M | 17.7 M | 13.5 M | 64.2 M | 72.8 M | 17.6 M | 7.81 M | 50.1 M | 57.3 M | 6.67 M | 14.7 M | 32.6 M | 46 M | 6.24 M | 12.1 M | 34.9 M | 3.5 M |
Revenue |
1.1 B | 1.33 B | 1.33 B | 1.13 B | 1.33 B | 1.33 B | 1.13 B | 1.18 B | 1.4 B | 1.4 B | 1.18 B | 1.32 B | 1.49 B | 1.57 B | 1.32 B | - | 1.58 B | 1.57 B | 1.35 B | 1.3 B | 1.53 B | 4.43 B | 2.9 B | 1.26 B | 1.4 B | 1.43 B | 708 M | 930 M | 1.44 B | 1.43 B | 1.19 B | 1.2 B | 1.39 B | 1.44 B | 1.17 B | 1.19 B | 1.37 B | 1.41 B | 1.09 B | 1.12 B | 1.31 B | 1.47 B | 1 B | 1.05 B | - | 1.17 B | 752 M | 780 M | - | 911 M | 589 M | 625 M | - | 706 M | 443 M | 462 M | - | 562 M | 359 M | 377 M | - | 455 M | 284 M | 305 M | - | - |
Cost of Revenue |
504 M | 738 M | 703 M | 588 M | 738 M | 703 M | 588 M | 621 M | 736 M | 703 M | 621 M | 709 M | 815 M | 818 M | 705 M | - | 883 M | 860 M | 719 M | 696 M | 753 M | 2.19 B | 1.44 B | 629 M | - | 747 M | 358 M | 499 M | - | 740 M | 637 M | 660 M | - | 778 M | 648 M | 662 M | - | 760 M | 590 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
594 M | 590 M | 631 M | 546 M | 590 M | 631 M | 546 M | 563 M | 665 M | 696 M | 563 M | 608 M | 671 M | 749 M | 611 M | - | 698 M | 714 M | 630 M | 605 M | 776 M | 2.23 B | 1.46 B | 629 M | 694 M | 686 M | 349 M | 431 M | 682 M | 690 M | 554 M | 545 M | 625 M | 665 M | 527 M | 523 M | 594 M | 649 M | 501 M | 508 M | 584 M | 699 M | 478 M | 481 M | 562 M | 587 M | 379 M | 378 M | 446 M | 465 M | 300 M | 301 M | 350 M | 350 M | 220 M | 217 M | 254 M | 280 M | 169 M | 175 M | 208 M | 225 M | 135 M | 145 M | 167 M | 99.9 M |
Operating Income |
46.7 M | -150 M | 17 M | 3.32 M | -150 M | 17 M | 3.32 M | -300 M | 13.5 M | 173 M | -300 M | 20.9 M | 71.4 M | 139 M | 22.4 M | - | 94.7 M | 119 M | 34.5 M | -46 M | 86.1 M | 379 M | 293 M | 107 M | 55.8 M | 58.6 M | -170 M | -558 M | 74.1 M | 139 M | -11.5 M | 35.3 M | -10.4 M | 119 M | -105 M | -28.7 M | -37.1 M | 62.2 M | -4.78 M | 7.54 M | 164 M | 199 M | 19.4 M | 34.9 M | 178 M | 171 M | 31.9 M | 27.7 M | 146 M | 146 M | 34.7 M | 26.9 M | 98.5 M | 121 M | 32.3 M | 13.5 M | 81.6 M | 91 M | 11.7 M | 24.4 M | 55.3 M | 75 M | 11.4 M | 21.1 M | 56.7 M | 6.89 M |
Interest Expense |
-7.01 M | -1.58 M | -942 K | -4.7 M | -1.58 M | -942 K | -4.7 M | -2.73 M | -2.56 M | -3.42 M | -2.73 M | -6.38 M | 47.9 M | -6.1 M | -6.06 M | - | 47.3 M | -5.77 M | -14.2 M | -51 K | 24 M | -43.9 M | -68 M | -7.18 M | - | -7.18 M | -4.84 M | 1.53 M | - | -429 K | -1.13 M | -667 K | - | -4.29 M | -8.07 M | 2.89 M | - | -1.07 M | -2.88 M | 2.57 M | - | -772 K | -2.96 M | 2.7 M | - | -3.24 M | 41 K | -1.84 M | - | -3.36 M | 247 K | -874 K | - | -113 K | -797 K | 240 K | - | -31 K | 510 K | 82 K | - | -1.19 M | -362 K | -510 K | -184 K | -167 K |
EBITDA |
72.2 M | -66.2 M | 73.3 M | 32.3 M | -123 M | 43.9 M | 32.3 M | -267 M | 44.4 M | 205 M | -267 M | 57.1 M | 105 M | 173 M | 57.1 M | - | 129 M | 153 M | 68.8 M | -11 M | 119 M | 485 M | 366 M | 142 M | 55.8 M | 183 M | -82.8 M | -510 M | 74.1 M | 279 M | 82.2 M | 81.7 M | -10.4 M | 254 M | -13.6 M | 17.4 M | -37.1 M | 191 M | 78.6 M | 48.5 M | 164 M | 305 M | 87.1 M | 66.9 M | 178 M | 244 M | 78 M | 49 M | 146 M | 198 M | 69 M | 44.2 M | 98.5 M | 157 M | 55.9 M | 25.3 M | 81.6 M | 123 M | 32.4 M | 35 M | 55.3 M | 101 M | 28.1 M | 29.8 M | 79.9 M | 22.2 M |
General and Administrative Expenses |
543 M | 665 M | 582 M | 530 M | 665 M | 582 M | 530 M | 837 M | 638 M | 520 M | 837 M | 587 M | 599 M | 609 M | 589 M | - | 604 M | 594 M | 596 M | 594 M | 676 M | 1.82 B | 1.14 B | 515 M | - | 554 M | 480 M | 553 M | - | 551 M | 566 M | 510 M | - | 528 M | 553 M | 515 M | - | 502 M | 503 M | 500 M | - | 499 M | 458 M | 446 M | - | 416 M | 347 M | 350 M | - | 319 M | 265 M | 274 M | - | 229 M | 187 M | 203 M | - | 189 M | 158 M | 151 M | - | 150 M | 123 M | 124 M | 111 M | 93 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Under Armour (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.