UAA Under Armour margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 20

Gross margin

46.7%

Operating margin

-2.5%

EBITDA margin

-0.8%

Net margin

-9.8%

Under Armour shows a gross margin of 46.7%, an operating margin of -2.5%, an EBITDA margin of -0.8%, and a net margin of -9.8%, but its operating margin is negative at -2.5%, its EBITDA margin is negative at -0.8%, and its net margin is negative at -9.8%. Net margin drove the decline across the available margins, decreasing by 8.1 percentage points.

UAA margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Under Armour's margins averaged 46.78% gross, -0.92% operating, 1.56% EBITDA, and -3.1% net. Each of the four current margins is below its three-year average.

UAA margin expansion

Year-over-year margin changes in percentage points

Compared with last year, gross, operating, EBITDA, and net margins all declined, with net margin showing the largest decrease at 8.1 percentage points.

Gross margin expansion

-0.7pp

Operating margin expansion

-1.7pp

EBITDA margin expansion

-2.3pp

Net margin expansion

-8.1pp

UAA Gross margin

Over the last 3 years, Under Armour's gross margin averaged 46.78%. The current gross margin of 46.7% is 0.1 percentage points below its three-year average. During this period, gross margin reached a high of 48.1% in Jun 2025 and a low of 45.5% in Mar 2026.

UAA Operating margin

Under Armour recorded an average operating margin of -0.92% across the last 3 years. Under Armour currently reports an operating margin of -2.5%, 1.6 percentage points below its three-year average. Over the last 3 years, Under Armour's operating margin peaked at 4.3% in Dec 2023 and reached a low of -4% in Dec 2025.

UAA EBITDA margin

Looking back over the last 3 years, Under Armour recorded an average EBITDA margin of 1.56%. As of the latest period, the current EBITDA margin for Under Armour is -0.8%, 2.4 percentage points below its three-year average. The highest EBITDA margin for Under Armour was 7.1% in Mar 2024, while the lowest was -1.8% in Dec 2025.

UAA Net margin

Under Armour's net margin averaged -3.1% over the last 3 years. Compared with its three-year average, Under Armour's current net margin is -9.8% and is 6.7 percentage points below its three-year average. Over the last 3 years, Under Armour's net margin peaked at 6.7% in Dec 2023 and reached a low of -10.4% in Dec 2025.

UAA margin group comparison

Margins compared with peer-group, industry and sector averages

Under Armour's gross margin of 46.7% is above the Consumer Cyclical sector average but below the industry average. Compared to its Consumer Cyclical sector average of 36.3%, Under Armour's gross margin is 29% higher.

UAA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Under Armour's gross margin?

For the period ending Sep 30, 2026, UAA recorded a gross margin of 46.7%.

What is Under Armour's operating margin?

As of Sep 30, 2026, UAA has an operating margin of -2.5%.

What is Under Armour's EBITDA margin?

The current EBITDA margin for UAA is -0.8% as of Sep 30, 2026.

What is Under Armour's net margin?

The current net margin for UAA is -9.8% as of Sep 30, 2026.

What are the average margins of UAA?

Under Armour's gross, operating, EBITDA, and net margins averaged 46.8% gross, -0.9% operating, 1.6% EBITDA, and -3.1% net over the last 3 years.

What are the highest historical margins of UAA?

Under Armour's highest recorded margins during the past 5 years were 50.3% gross in Dec 2021, 8.4% operating in Dec 2021, 10% EBITDA in Dec 2021, and 6.7% net in Dec 2023.

What are the lowest historical margins of UAA?

Over this 5-year history, Under Armour's margins fell as low as 44.7% gross in Jun 2023, -4% operating in Dec 2025, -1.8% EBITDA in Dec 2025, and -10.4% net in Dec 2025.