who-owns-under-armour

Who Owns Under Armour?

Business / By / March 16, 2023

Under Armour is primarily owned by Kevin A. Plank. Plank is Under Armour’s founder and executive chairman. His stake in the company, at current market value, is worth over one billion dollars, as he owns 34,742,229 Class A shares (15.6% of outstanding Class A shares) and 33,857,645 Class C shares (13.2% of outstanding Class C shares), holding 64.7% of the total voting power.

Breaking down Under Armour’s ownership structure

  1. Kevin A. Plank owns 34,742,229 Class A shares (15.6% of outstanding Class A shares) and 33,857,645 Class C shares (13.2% of outstanding Class C shares), holding 64.7% of the total voting power.
  2. Patrik Frisk owns 14,000 Class A shares (less than 1% of outstanding Class A shares) and 639,714 Class C shares (less than 1% of outstanding Class C shares).
  3. Douglas E. Coltharp owns 98,914 Class A shares (less than 1% of outstanding Class A shares) and 99,279 Class C shares (less than 1% of outstanding Class C shares).
  4. Other beneficial owners listed (Jerri L. DeVard, Mohamed A. El-Erian, David W. Gibbs, Karen W. Katz, Westley Moore, Eric T. Olson, and Harvey L. Sanders) own small amounts of Class A and/or Class C shares, each representing less than 1% of the outstanding shares in their respective classes.
  5. David Bergman owns 26,835 Class A shares (less than 1% of outstanding Class A shares) and 189,640 Class C shares (less than 1% of outstanding Class C shares).
  6. Colin Browne owns 180,803 Class C shares (less than 1% of outstanding Class C shares).
  7. Stephanie Pugliese owns 92,504 Class C shares (less than 1% of outstanding Class C shares).
  8. All executive officers and directors as a group beneficially own 35,111,627 Class A shares (15.6% of outstanding Class A shares) and 35,590,192 Class C shares (13.9% of outstanding Class C shares), holding 64.7% of the total voting power.
  9. 5% stockholders: BlackRock, Inc. owns 11,176,582 Class A shares (5.0% of outstanding Class A shares) and The Vanguard Group owns 19,894,614 Class A shares (8.9% of outstanding Class A shares). BlackRock, Inc. and The Vanguard Group hold 2.1% and 3.7% of the total voting power, respectively.

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Under Armour Revenue

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In 2021, the company’s net revenues increased to $5.68 billion, up from $4.47 billion in 2020, representing a 27% growth. The net revenues in 2021 were higher than the net revenues in 2019, which were $5.27 billion, representing an 8% growth compared to 2021. The decrease in net revenues from 2019 to 2020 was approximately 15%.

Under Armour Profitability

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In 2019, the company reported a net income of $0.09 billion. In 2020, the company had a net loss of $0.55 billion. In 2021, the company’s net income was $0.36 billion.

Under Armour Revenue By Channel

under-armour-revenue-by channel
In 2021, wholesale accounted for 57% of the company’s financial data. Licensing represented a smaller portion, contributing 2% to the financial data. Direct-to-consumer sales made up a significant share, comprising 41% of the financial data in 2021.

Under Armour Revenue By Product

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Apparel revenue: $3.47 billion in 2019, $2.88 billion in 2020, and $3.84 billion in 2021. Apparel has been the largest revenue contributor in each year. Footwear revenue: $1.09 billion in 2019, $0.93 billion in 2020, and $1.26 billion in 2021. Footwear revenue showed a decline in 2020 but rebounded in 2021. Accessories revenue: $0.42 billion in 2019, $0.41 billion in 2020, and $0.46 billion in 2021. Accessories revenue remained relatively stable throughout the period. License revenues: $0.14 billion in 2019, $0.11 billion in 2020, and $0.11 billion in 2021. License revenues experienced a decline from 2019 to 2020 but remained stable in 2021. Corporate Other revenue: $0.16 billion in 2019, $0.14 billion in 2020, and $0.004 billion in 2021. Corporate Other revenue saw a significant decrease in 2021.

Under Armour Revenue By Geography

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North America revenues: $3.66 billion in 2019, $2.94 billion in 2020, and $3.81 billion in 2021. EMEA revenues: $0.62 billion in 2019, $0.60 billion in 2020, and $0.84 billion in 2021. Asia-Pacific revenues: $0.64 billion in 2019, $0.63 billion in 2020, and $0.83 billion in 2021. Latin America revenues: $0.20 billion in 2019, $0.16 billion in 2020, and $0.20 billion in 2021. North America revenues: Decreased by 19.7% from 2019 to 2020, and increased by 29.4% from 2020 to 2021. EMEA revenues: Decreased by 3.2% from 2019 to 2020, and increased by 40.8% from 2020 to 2021. Asia-Pacific revenues: Decreased by 1.6% from 2019 to 2020, and increased by 32.3% from 2020 to 2021. Latin America revenues: Decreased by 20% from 2019 to 2020 and increased by 18.5% from 2020 to 2021.

Under Armour Profits By Geography

under-armour-profits-by-geography
North America operating income: Decreased by 35.3% from 2019 to 2020, and increased by 104.8% from 2020 to 2021. It contributed the most to the total operating income in each year. EMEA operating income: Increased by 12.8% from 2019 to 2020, and grew by 118.8% from 2020 to 2021. EMEA’s contribution to the total operating income increased over the years. Asia-Pacific operating income: Decreased by 100% from 2019 to 2020, and increased significantly from near-zero in 2020 to $132.91 million in 2021. The Asia-Pacific segment rebounded in 2021. Latin America operating income: Improved from -$3.16 million in 2019 to -$42.79 million in 2020, and turned positive with an increase of 152.3% to $22.39 million in 2021. Latin America’s contribution to the total operating income improved in 2021 after two years of negative operating income.

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About The Author

Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
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