Under Armour (UA) Operating Margin (2009 - 2026)
Under Armour's (UA) quarterly Operating Margin came in at 4.26% in Q2 2026, up 396.0% on a YoY basis from 0.86% in Q2 2025, and up 247.94% quarter-over-quarter from 2.88% in Q1 2026.
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Under Armour (UA) Operating Margin (2009 - 2026) Analysis & Trends
Under Armour (UA) has reported Operating Margin for 18 consecutive years, with 4.26% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 396.0% year-over-year to 4.26%; the trailing twelve-month figure through Jun 2026 stood at 2.43% (down 473.0% YoY), and the FY2026 full-year result was 3.28%, up 30.0% from the prior year.
- Operating Margin improved to 4.26% in Q2 2026 per UA's latest filing, from 2.88% in the prior quarter.
- Across five years, Operating Margin topped out at 12.37% in Q3 2024 and bottomed at 25.32% in Q2 2024.
- Historically, Operating Margin has averaged 0.11% across 5 years, with a median of 1.49% in 2025.
- The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 2702 bps in 2024, then jumped 2562 bps in 2025.
- Over 5 years, Operating Margin stood at 5.27% in 2022, then declined by 9 bps to 4.81% in 2023, then plunged by 80 bps to 0.96% in 2024, then slumped by 1270 bps to 11.28% in 2025, then jumped by 138 bps to 4.26% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 4.26%, 2.88%, and 11.28% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Lululemon Athletica | 10.72 Bn | 9.33 Bn | 1.46 Bn | 18.78% |
| 2 | Gildan Activewear | 8.17 Bn | 7.91 Bn | 459.76 Mn | 11.12% |
| 3 | Levi Strauss | 8.13 Bn | 7.15 Bn | 979.10 Mn | 7.82% |
| 4 | V F | 5.28 Bn | 4.61 Bn | 917.04 Mn | -4.98% |
| 5 | Kontoor Brands | 4.02 Bn | 3.96 Bn | 328.26 Mn | 15.49% |
| 6 | Pvh | 3.43 Bn | 2.46 Bn | 1.32 Bn | -9.10% |
| 7 | Warby Parker | 3.00 Bn | 2.71 Bn | 136.46 Mn | 1.34% |
| 8 | Columbia Sportswear | 2.95 Bn | 2.33 Bn | 358.43 Mn | 5.03% |
| 9 | Figs | 2.27 Bn | 1.97 Bn | 147.86 Mn | 17.93% |
| 10 | Under Armour | 2.19 Bn | 1.80 Bn | 593.83 Mn | 4.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.26% |
| 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 | 5.27% |
| Jun 30, 2022 | 2.12% |
| Dec 31, 2021 | 8.57% |
| Sep 30, 2021 | 10.12% |
| Jun 30, 2021 | 8.97% |
| Mar 31, 2021 | 8.50% |