Is Under Armour, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Under Armour, Inc. has moved from attractive to expensive, indicating a shift in perception regarding its market value. The company appears to be overvalued based on its current metrics, with a P/E ratio of 21, a Price to Book Value of 1.47, and an EV to EBITDA of 9.37. In comparison, peers such as Ralph Lauren Corp. and Kontoor Brands, Inc. have P/E ratios of 48.61 and 17.91, respectively, suggesting that Under Armour's valuation does not align favorably with its industry counterparts.
Furthermore, the company's stock has significantly underperformed against the S&P 500, with a year-to-date return of -42.27% compared to the index's 13.30%. This trend continues over longer periods, with a 5-year return of -63.23% versus the S&P 500's 91.29%, reinforcing the notion that Under Armour is currently overvalued in the market.