Under Armour (UA) Operating Expenses (2009 - 2026)
Under Armour's (UA) quarterly Operating Expenses came in at $525.7 million in Q1 2026, down 15.59% YoY from $622.9 million in Q1 2025, and down 28.91% on a QoQ basis from $739.5 million in Q4 2025.
Under Armour (UA) Operating Expenses (2009 - 2026) Analysis & Trends
Under Armour (UA) has 18 years of Operating Expenses data on file, last reported at $525.7 million in Q1 2026.
- Quarterly Operating Expenses fell 15.59% year-over-year to $525.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $2.4 billion (down 10.0% YoY) and the FY2026 annual result came in at $2.4 billion, down 8.95% from the prior year.
- Operating Expenses fell to $525.7 million in Q1 2026, from $739.5 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.2 billion in Q3 2022 to a low of $523.1 million in Q3 2024.
- A 5-year average of $658.6 million and a median of $603.2 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses slumped 48.83% — and 2024, when it soared 51.69%.
- Tracing UA's Operating Expenses over 5 years: stood at $1.2 billion in 2022, then plunged by 49.65% to $599.2 million in 2023, then gained by 8.75% to $651.6 million in 2024, then advanced by 13.48% to $739.5 million in 2025, then fell by 28.91% to $525.7 million in 2026.
- The last three Operating Expenses figures came in at $525.7 million (Q1 2026), $739.5 million (Q4 2025), and $613.5 million (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Ralph Lauren | 22.40 Bn | 20.45 Bn | 1.44 Bn | 1.10 Bn |
| 2 | Gildan Activewear | 10.27 Bn | 10.00 Bn | 459.76 Mn | 283.86 Mn |
| 3 | Levi Strauss | 8.21 Bn | 7.24 Bn | 979.10 Mn | 856.90 Mn |
| 4 | V F | 5.48 Bn | 4.81 Bn | 917.04 Mn | 1.75 Bn |
| 5 | Kontoor Brands | 4.35 Bn | 4.30 Bn | 328.26 Mn | 493.76 Mn |
| 6 | Ermenegildo Zegna | 3.54 Bn | 3.19 Bn | - | - |
| 7 | Pvh | 3.49 Bn | 2.90 Bn | 1.19 Bn | 1.07 Bn |
| 8 | Columbia Sportswear | 3.04 Bn | 2.42 Bn | 358.43 Mn | 332.19 Mn |
| 9 | Figs | 2.39 Bn | 2.09 Bn | 147.86 Mn | 112.59 Mn |
| 10 | Under Armour | 2.19 Bn | 1.80 Bn | 593.83 Mn | 547.09 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 547.09 Mn |
| Mar 31, 2026 | 525.74 Mn |
| Dec 31, 2025 | 739.52 Mn |
| Sep 30, 2025 | 613.54 Mn |
| Jun 30, 2025 | 543.17 Mn |
| Mar 31, 2025 | 622.86 Mn |
| Dec 31, 2024 | 651.65 Mn |
| Sep 30, 2024 | 523.05 Mn |
| Jun 30, 2024 | 893.57 Mn |
| Mar 31, 2024 | 603.15 Mn |
| Dec 31, 2023 | 599.23 Mn |
| Sep 30, 2023 | 609.05 Mn |
| Jun 30, 2023 | 589.07 Mn |
| Mar 31, 2023 | 575.93 Mn |
| Sep 30, 2022 | 1.19 Bn |
| Jun 30, 2022 | 599.29 Mn |
| Dec 31, 2021 | 1.85 Bn |
| Sep 30, 2021 | 1.16 Bn |
| Jun 30, 2021 | 547.62 Mn |
| Mar 31, 2021 | 521.75 Mn |