Under Armour (UA) Operating Margin (2009 - 2026)
Under Armour (UA) reported Operating Margin of 2.88% for Q1 2026, up 323.0% on a YoY basis from 0.68% in Q1 2025, and up 74.49% quarter-over-quarter from 11.28% in Q4 2025.
Under Armour (UA) Operating Margin (2009 - 2026) Analysis & Trends
Under Armour has reported Operating Margin for 18 years, with the latest figure at 2.88% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 323.0% year-over-year to 2.88%; the trailing twelve-month figure through Mar 2026 stood at 3.28% (up 30.0% YoY), and the FY2026 full-year result was 3.28%, up 30.0% from the prior year.
- Operating Margin for Q1 2026 stood at 2.88%, up from 11.28% in the prior quarter.
- The five-year high for Operating Margin was 12.37% in Q3 2024, with the low at 25.32% in Q2 2024.
- Historically, Operating Margin has averaged 0.26% across 5 years, with a median of 1.28% in 2025.
- Annual changes were most pronounced in 2024 — Operating Margin sank 2702 bps — and 2025, when it soared 2562 bps.
- Under Armour's Operating Margin stood at 7.36% in 2022, then plunged by 35 bps to 4.81% in 2023, then slumped by 80 bps to 0.96% in 2024, then plunged by 1270 bps to 11.28% in 2025, then jumped by 74 bps to 2.88% in 2026.
- The last three Operating Margin figures came in at 2.88% (Q1 2026), 11.28% (Q4 2025), and 1.28% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ermenegildo Zegna | 179,116.29 Bn | 179,116.03 Bn | - | - |
| 2 | Ralph Lauren | 25.18 Bn | 23.12 Bn | 1.38 Bn | 9.53% |
| 3 | Levi Strauss | 9.24 Bn | 8.43 Bn | 1.08 Bn | 11.40% |
| 4 | V F | 6.76 Bn | 6.55 Bn | 1.22 Bn | 2.84% |
| 5 | Kontoor Brands | 4.31 Bn | 4.20 Bn | 470.76 Mn | 11.90% |
| 6 | Pvh | 3.56 Bn | 2.96 Bn | 1.19 Bn | 6.14% |
| 7 | Columbia Sportswear | 3.50 Bn | 2.96 Bn | 394.96 Mn | 5.39% |
| 8 | Under Armour | 2.51 Bn | 1.60 Bn | 492.04 Mn | -2.88% |
| 9 | Figs | 2.04 Bn | 1.77 Bn | 108.30 Mn | 2.80% |
| 10 | G Iii Apparel | 1.45 Bn | 1.06 Bn | 347.75 Mn | 15.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -2.88% |
| Dec 31, 2025 | -11.28% |
| Sep 30, 2025 | 1.28% |
| Jun 30, 2025 | 0.29% |
| Mar 31, 2025 | -6.11% |
| Dec 31, 2024 | 0.96% |
| Sep 30, 2024 | 12.37% |
| Jun 30, 2024 | -25.32% |
| Mar 31, 2024 | -0.27% |
| Dec 31, 2023 | 4.81% |
| Sep 30, 2023 | 8.90% |
| Jun 30, 2023 | 1.70% |
| Mar 31, 2023 | 2.11% |
| Sep 30, 2022 | 7.36% |
| Jun 30, 2022 | 2.12% |
| Dec 31, 2021 | 5.63% |
| Sep 30, 2021 | 11.13% |
| Jun 30, 2021 | 8.97% |
| Mar 31, 2021 | 8.50% |
| Dec 31, 2020 | 3.98% |