Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Under Armour, Inc. is a U.S.-based performance apparel, footwear, and accessories company operating within the athletic apparel and sportswear industry. The company designs, markets, and distributes products intended to enhance athletic performance, with a core focus on training, running, team sports, golf, and outdoor activities. Its primary revenue drivers are performance apparel, footwear, and accessories, sold through wholesale partners, direct-to-consumer (DTC) channels, and digital platforms.
Founded in 1996, Under Armour built its brand around moisture-wicking synthetic apparel designed to outperform traditional cotton garments. Over time, the company expanded into footwear and connected fitness initiatives, positioning itself as a performance-driven alternative to larger athletic brands. Its strategic advantage has historically centered on product innovation, athlete endorsements, and a strong performance-oriented brand identity, though it has faced increased competition and market share pressure in recent years.
Business Operations
Under Armour operates through three primary business segments: Apparel, Footwear, and Accessories, with Apparel representing the largest share of revenue. The company generates revenue through wholesale distribution to sporting goods retailers and through its Direct-to-Consumer channel, which includes brand stores, factory outlets, and e-commerce platforms. Its product portfolio spans men’s, women’s, and youth categories, with men’s apparel historically accounting for the largest portion of sales.
Operationally, Under Armour maintains a global supply chain with third-party manufacturers, primarily in Asia, while retaining internal control over product design, marketing, and brand strategy. Key subsidiaries include Under Armour International, Inc. and Under Armour Canada ULC, which support international operations. The company has exited or scaled back certain digital fitness platforms acquired in prior years, refocusing resources on core apparel and footwear performance innovation.
Strategic Position & Investments
Under Armour’s current strategy emphasizes brand elevation, operational discipline, and profitability over rapid expansion. Growth initiatives include premium product launches, tighter SKU management, and enhanced storytelling around performance credibility. The company has also prioritized strengthening its DTC channel while maintaining selective wholesale partnerships to protect brand equity.
Historically, Under Armour made notable acquisitions such as MyFitnessPal, Endomondo, and MapMyFitness to build a connected fitness ecosystem; however, these assets were later divested as part of a strategic shift back to core competencies. The company continues to invest in material innovation, footwear cushioning technologies, and sustainability initiatives, including recycled materials and responsible sourcing practices, though long-term financial impact remains under evaluation.
Geographic Footprint
Under Armour is headquartered in North America, with its corporate headquarters located in Baltimore, Maryland. The company operates across North America, Europe, Asia-Pacific, and Latin America, with international markets representing a meaningful but secondary portion of total revenue compared to the United States.
Internationally, Under Armour maintains brand houses, e-commerce operations, and distributor relationships across Europe, China, Japan, and other parts of Asia-Pacific. While global in reach, the company has moderated expansion in certain regions to improve operating efficiency and profitability, particularly in markets where brand awareness and scale have lagged expectations.
Leadership & Governance
Under Armour was founded by Kevin Plank, who remains a significant shareholder and serves in a strategic capacity. The company is led by an executive team focused on operational execution, brand consistency, and financial discipline, with governance oversight provided by an independent board of directors.
Key executives include:
- Stephanie Linnartz – President and Chief Executive Officer
- Dave Bergman – Chief Financial Officer
- Eric Liedtke – Executive Vice President, Brand Strategy
- Colin Browne – Chief Operating Officer
Leadership has articulated a vision centered on restoring Under Armour’s position as a premium performance brand, improving margins, and building a more resilient, consumer-focused operating model.