Is Under Armour, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Under Armour, Inc. has moved from fair to expensive, indicating a shift towards overvaluation. The company is currently overvalued based on its P/E ratio of 21, which is significantly higher than peers like Crocs, Inc. with a P/E of 8.86 and PVH Corp. at 5.69. Additionally, Under Armour's EV to EBITDA stands at 9.37, while Ralph Lauren Corp. has a much higher EV to EBITDA of 31.97, further illustrating the relative overvaluation of Under Armour.
In terms of returns, Under Armour has underperformed compared to the S&P 500, with a year-to-date return of -41.91% versus the S&P 500's 15.47%. This trend continues over longer periods, with a 5-year return of -67.19% compared to the S&P 500's impressive 95.99%. Overall, the combination of high valuation ratios and poor stock performance suggests that Under Armour, Inc. is overvalued in the current market environment.