Cash Flow Statement
Growth Metrics

Under Armour (UA) Operating Expenses (2009 - 2026)

Under Armour posted quarterly Operating Expenses of $517.7 million for Q1 2026, down 14.72% year-on-year from $607.1 million in Q1 2025, and down 22.09% on a QoQ basis from $664.5 million in Q4 2025.

Under Armour (UA) has 18 years of Operating Expenses data on file, last reported at $517.7 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses fell 14.72% year-over-year to $517.7 million; the trailing twelve-month figure through Mar 2026 stood at $2.3 billion (down 11.83% YoY), and the FY2026 full-year result was $2.3 billion, down 11.83% from the prior year.
  • Operating Expenses for Q1 2026 stood at $517.7 million, down from $664.5 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $837.3 million in Q2 2024 and bottomed at $517.7 million in Q1 2026.
  • The 5-year median for Operating Expenses is $599.2 million (2023), against an average of $604.6 million.
  • The widest annual swing landed in 2024, when Operating Expenses soared 42.14%; it then sank 36.66% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $597.6 million in 2022, then increased by 0.27% to $599.2 million in 2023, then climbed by 6.42% to $637.7 million in 2024, then advanced by 4.21% to $664.5 million in 2025, then decreased by 22.09% to $517.7 million in 2026.
  • The last three Operating Expenses figures came in at $517.7 million (Q1 2026), $664.5 million (Q4 2025), and $581.6 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Ralph Lauren 22.42 Bn 20.35 Bn 1.38 Bn 1.19 Bn
2 Levi Strauss 9.03 Bn 8.22 Bn 1.08 Bn 879.60 Mn
3 V F 6.53 Bn 6.32 Bn 1.22 Bn 2.10 Bn
4 Pvh 4.49 Bn 3.79 Bn 1.44 Bn 1.22 Bn
5 Kontoor Brands 3.96 Bn 3.85 Bn 470.76 Mn 896.96 Mn
6 Columbia Sportswear 3.46 Bn 2.93 Bn 394.96 Mn 357.14 Mn
7 Under Armour 2.29 Bn 1.38 Bn 492.04 Mn 517.73 Mn
8 Figs 1.95 Bn 1.68 Bn 108.30 Mn 103.82 Mn
9 G Iii Apparel 1.38 Bn 969.37 Mn 285.48 Mn 70.31 Mn
10 Canada Goose Holdings 710.16 Mn 412.34 Mn -268.86 Mn -182.98 Mn

Historic Data

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DateValue
Mar 31, 2026 517.73 Mn
Dec 31, 2025 664.54 Mn
Sep 30, 2025 581.63 Mn
Jun 30, 2025 530.35 Mn
Mar 31, 2025 607.13 Mn
Dec 31, 2024 637.70 Mn
Sep 30, 2024 519.84 Mn
Jun 30, 2024 837.32 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 597.60 Mn
Jun 30, 2022 599.29 Mn
Dec 31, 2021 675.67 Mn
Sep 30, 2021 599.38 Mn
Jun 30, 2021 545.00 Mn
Mar 31, 2021 514.64 Mn
Dec 31, 2020 585.78 Mn
Sep 30, 2020 553.55 Mn
Jun 30, 2020 479.91 Mn
Mar 31, 2020 552.70 Mn
Dec 31, 2019 607.45 Mn
Sep 30, 2019 550.98 Mn
Jun 30, 2019 565.80 Mn
Mar 31, 2019 509.53 Mn
Dec 31, 2018 587.45 Mn
Sep 30, 2018 527.64 Mn
Jun 30, 2018 552.62 Mn
Mar 31, 2018 514.63 Mn
Dec 31, 2017 594.69 Mn
Sep 30, 2017 501.55 Mn
Jun 30, 2017 502.88 Mn
Mar 31, 2017 500.40 Mn
Dec 31, 2016 427.81 Mn
Sep 30, 2016 499.31 Mn
Jun 30, 2016 458.27 Mn
Mar 31, 2016 445.75 Mn
Dec 31, 2015 384.09 Mn
Sep 30, 2015 415.76 Mn
Jun 30, 2015 347.15 Mn
Mar 31, 2015 350.00 Mn
Dec 31, 2014 299.97 Mn
Sep 30, 2014 319.19 Mn
Jun 30, 2014 265.26 Mn
Mar 31, 2014 273.83 Mn
Dec 31, 2013 251.89 Mn
Sep 30, 2013 229.31 Mn
Jun 30, 2013 187.32 Mn
Mar 31, 2013 203.06 Mn
Dec 31, 2012 172.64 Mn
Sep 30, 2012 189.41 Mn
Jun 30, 2012 157.75 Mn
Mar 31, 2012 150.80 Mn
Dec 31, 2011 152.60 Mn
Sep 30, 2011 150.14 Mn
Jun 30, 2011 123.42 Mn
Mar 31, 2011 123.91 Mn
Dec 31, 2010 120.39 Mn
Sep 30, 2010 110.68 Mn
Jun 30, 2010 93.03 Mn
Mar 31, 2010 94.05 Mn
Dec 31, 2009 86.92 Mn
Sep 30, 2009 86.26 Mn
Jun 30, 2009 70.35 Mn