How Does Under Armour Stock Stack Up Against Its Peers?
Under Armour’s stock has shown relative outperformance over the past year, with a -2% 12M market return besting most peers as of 3/10/2026. However, how does it truly measure up against rivals like Nike and Lululemon in the highly competitive and evolving athletic apparel market? A closer look reveals negative LTM operating and free cash flow margins, declining revenue growth, and a negative PE ratio. Despite recently beating quarterly earnings and revenue estimates, significant fundamental challenges persist, with limited upside if current profitability and growth trends aren’t reversed against more dominant players.
- UA’s -1.3% operating margin (lowest vs. DECK’s 23.8%) signals severe cost challenges or poor pricing power.
- UA’s -6.4% revenue decline indicates losing market share and weak demand, trailing all peers (NKE, LULU, DECK, COLM).
- UA’s -5.3 PE signals unprofitability, but its 1.8% stock decline was less severe than peer drops, implying relative stability.
Here’s how Under Armour stacks up across size, valuation, and profitability versus key peers.
| UA | NKE | LULU | DECK | COLM | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 2.7 | 83.0 | 19.7 | 15.2 | 3.0 |
| Revenue ($ Bil) | 5.0 | 46.5 | 11.1 | 5.4 | 3.4 |
| PE Ratio | -5.3 | 32.9 | 11.3 | 14.6 | 17.0 |
| LTM Revenue Growth | -6.4% | -5.0% | 8.8% | 9.2% | 0.9% |
| LTM Operating Margin | -1.3% | 6.5% | 22.0% | 23.8% | 6.9% |
| LTM FCF Margin | -0.9% | 5.3% | 10.2% | 17.3% | 6.4% |
| 12M Market Return | -1.8% | -24.8% | -50.1% | -13.1% | -32.5% |
For more details on Under Armour, read Buy or Sell UA Stock. Below we compare UA’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| UA | -6.4% | -9.4% | -3.4% | 3.9% |
| NKE | -5.0% | -9.8% | 0.3% | 9.6% |
| LULU | 8.8% | 10.1% | 18.6% | 29.6% |
| DECK | 9.2% | 16.3% | 18.2% | 15.1% |
| COLM | 0.9% | 0.9% | -3.4% | 0.7% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| UA | -1.3% | -2.5% | 4.0% | 4.5% |
| NKE | 6.5% | 8.0% | 12.3% | 11.5% |
| LULU | 22.0% | 23.7% | 22.9% | 21.3% |
| DECK | 23.8% | 23.6% | 21.6% | 18.0% |
| COLM | 6.9% | 6.9% | 8.0% | 9.6% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| UA | -5.3 | -10.3 | 14.2 | 10.1 |
| NKE | 32.9 | 29.4 | 20.1 | 33.2 |
| LULU | 11.3 | 14.2 | 31.3 | 76.4 |
| DECK | 14.6 | 16.3 | 41.5 | 34.3 |
| COLM | 17.0 | 17.0 | 21.9 | 19.4 |
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