Under Armour, Inc. (UAA) Balance Sheet

As reported in recent financial filings, Under Armour's equity base has declined from $2.2 billion in 2024Q4 to $1.4 billion by 2026Q4, signaling a weakening financial position as the company struggles to navigate persistent revenue headwinds and operational inefficiencies within its core wholesale-heavy business model.

Based on the latest quarterly data, the company's debt-to-equity ratio has climbed to 1.37 in 2026Q4, up from 0.67 in 2024Q4, indicating that management is increasingly relying on debt financing to bridge the gap created by negative operating cash flows and declining profitability.

According to the 2026Q4 balance sheet, cash and equivalents have dwindled to $309.2 million, a significant reduction from the $1.0 billion reported in 2024Q3, which suggests that the company's liquidity buffer is rapidly eroding under the pressure of ongoing operational losses and working capital requirements.

As indicated by the provided financial statements, the company maintains approximately $492.8 million in goodwill, which represents a significant portion of the $1.4 billion in total equity, highlighting a potential risk of impairment if the brand's performance continues to lag behind its competitive peers.