Amer Sports, Inc. vs UNDER ARMOUR, INC., two Apparel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Under Armour is mid-turnaround and losing money, with a negative return on equity near -35% and a -9.98% net margin, so there is no earnings multiple to quote. Amer Sports is the mirror image of sentiment, priced at 44.36 times earnings on the strength of Arc'teryx and Wilson. Under Armour burns cash too, a -6.31% free cash flow yield, while Amer generates a positive 2.7%. Under Armour carries real debt at 1.27 to equity; Amer none. At 1.82 times book, Under Armour is a bet the brand recovers; at 3.26 times, Amer is a bet its momentum holds.
Comparison updated 2026-07-11.
| Metric | AS | UA |
|---|---|---|
| Price | $34.84 | $6.62 |
| Market cap | $19.4B | $2.8B |
| Sector | Apparel | Apparel |
| Stage | Growth | Mature |
| P/E | 45.3 | — |
| P/B | 3.33 | 1.99 |
| P/S | 2.95 | 0.57 |
| EV/EBITDA | 26.7 | 46.4 |
| Revenue growth | +26.3% | -3.7% |
| Gross margin | 57.7% | 42.0% |
| Operating margin | 10.8% | -2.9% |
| Net margin | 6.7% | -10.0% |
| Return on equity | 7.6% | -35.0% |
| Return on assets | 4.4% | -11.2% |
| Return on invested capital | 7.8% | -0.4% |
| FCF yield | 2.6% | -5.8% |
| Debt / equity | 0.00 | 1.27 |
| Current ratio | 1.50 | 1.62 |
| Altman Z (solvency) | 3.60 | 2.01 |
| Piotroski F (quality) | 8 / 9 | 1 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.