Under Armour, Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-495.6M | $-201.3M | $232.0M | $374.5M | $351.0M | $-549.2M | $92.1M | $-46.3M |
| Depreciation & Amortization | $109.6M | $135.8M | $142.6M | $135.5M | $141.0M | $165.0M | $186.4M | $181.8M |
| Depreciation | $108.4M | $134.3M | $136.6M | $133.6M | $139.2M | $154.4M | $177.3M | $173.4M |
| Amortization | — | $1.4M | $1.5M | $1.9M | $2.0M | $7.0M | $6.1M | $6.1M |
| Stock-Based Compensation | $45.6M | $53.0M | $43.0M | $36.8M | $43.8M | $42.1M | $49.6M | $41.8M |
| Net Cash from Operating Activities | $-75.1M | $-59.3M | $354.0M | $-39.9M | $660.6M | $212.9M | $509.0M | $628.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $87.1M | $168.7M | $150.3M | $158.1M | $66.0M | $92.3M | $145.8M | $170.4M |
| Business Acquisitions | $500.0K | $8.1M | $0 | $0 | $0 | $40.3M | $0 | $0 |
| Net Cash from Investing Activities | $-688.8M | $-126.4M | $-105.3M | $-123.1M | $-64.6M | $66.3M | $-147.1M | $-202.9M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | $0 |
| Stock Repurchases | $25.0M | $90.0M | $75.0M | $125.0M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $560.6M | $-180.8M | $-78.7M | $-126.4M | $-418.7M | $436.9M | $-137.1M | $-189.9M |
| Net Change in Cash | $-203.0M | $-361.9M | $150.2M | $-294.6M | $153.8M | $732.5M | $229.9M | $247.9M |
| Free Cash Flow | $-162.2M | $-228.0M | $203.6M | $-198.0M | $594.5M | $120.6M | $363.2M | $457.8M |