The Bull Case for Under Armour (UAA) Could Change Following Curry Brand Separation and Restructuring Actions

• Under Armour announced in November 2025 that it will separate the Curry Brand from its business and expand restructuring efforts, updating fiscal 2026 guidance to reflect an operating loss of US$56 million to US$71 million with related charges increasing to US$255 million.
• This move marks the end of a 13-year partnership with NBA star Stephen Curry and signals a major brand realignment as Under Armour shifts focus to its core brand and operational changes.
• We'll look at how the separation of Curry Brand and expanded restructuring reshape Under Armour's investment outlook and future profitability profile.

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Under Armour Investment Narrative Recap

As an Under Armour shareholder today, you must believe in the company’s ability to reset and refocus on its core brand, despite deepening short-term losses and restructuring. The recent split from Curry Brand and lowered guidance sharpen the focus on whether Under Armour’s operational resets can counter pressure from declining revenue and margin risks driven by ongoing promotional activity and supply chain costs. The biggest catalyst, improving core brand profitability, remains tied to successful restructuring, while persistent sales declines across channels are the most important risk.

One particularly relevant announcement is the planned transition of Reza Taleghani to Chief Financial Officer in early 2026. Bringing in leadership with global transformation experience intersects with the current realignment effort and may influence how quickly Under Armour can address its near-term profitability and operational priorities. The interplay between this leadership change and the company’s urgent need for efficiency will be important in upcoming quarters.

Yet with margin pressures from tariffs and ongoing cost headwinds still unresolved, investors should be aware that...

Read the full narrative on Under Armour (it's free!)

Under Armour's narrative projects $5.4 billion revenue and $191.0 million earnings by 2028. This requires 1.5% yearly revenue growth and an $89.5 million earnings increase from $101.5 million today.

Uncover how Under Armour's forecasts yield a $5.83 fair value, a 37% upside to its current price.

Exploring Other Perspectives

Fifteen Simply Wall St Community fair value estimates for Under Armour swing from US$4.04 to US$21.14 per share, reflecting a wide spectrum of expectations. With cost and margin risks looming, investor viewpoints diverge sharply, consider comparing these perspectives for deeper insight.

Explore 15 other fair value estimates on Under Armour - why the stock might be worth over 4x more than the current price!

Build Your Own Under Armour Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Under Armour research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Under Armour research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Under Armour's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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