Is Under Armour, Inc. overvalued or undervalued?

As of 12 September 2025, the valuation grade for Under Armour, Inc. has moved from expensive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 21, the Price to Book Value is 1.47, and the EV to EBITDA is 9.37, which are reasonable compared to its peers.
In comparison to its industry peers, Under Armour's P/E ratio is notably lower than Ralph Lauren Corp. at 48.61 and Kontoor Brands, Inc. at 17.91, which are both in the attractive range. Additionally, Under Armour's EV to EBITDA of 9.37 is more favorable than Crocs, Inc. at 9.18, which is considered expensive. However, it is important to note that Under Armour has significantly underperformed relative to the S&P 500, with a year-to-date return of -40.22% compared to the S&P 500's 12.22%.