Under Armour Inc C (UA)

Debt-to-capital ratio

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	594,873	595,124	594,655	594,107	674,478	673,930	673,382	672,834	662,531	662,903	804,621	1,009,950	1,003,560	997,347	987,949	593,281	592,687	591,995	591,396	590,431
Total stockholders’ equity	US$ in thousands	2,153,290	2,173,020	2,089,740	2,005,410	1,966,150	1,832,000	1,816,330	1,729,080	2,088,990	1,977,750	1,846,710	1,770,200	1,675,990	1,470,350	1,423,410	1,550,180	2,150,090	2,153,670	2,048,270	2,049,810
Debt-to-capital ratio		0.22	0.21	0.22	0.23	0.26	0.27	0.27	0.28	0.24	0.25	0.30	0.36	0.37	0.40	0.41	0.28	0.22	0.22	0.22	0.22

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $594,873K ÷ ($594,873K + $2,153,290K)
= 0.22

The debt-to-capital ratio of Under Armour Inc C has exhibited some fluctuations over the past few years, indicating changes in its capital structure. From December 2019 to March 2020, the ratio remained relatively stable at around 0.22. However, starting from June 2020, the ratio began to increase steadily, reaching a peak of 0.41 by September 2020.

Subsequently, the ratio experienced a decline by March 2021 but spiked up to 0.36 by June 2021 and further to 0.30 by September 2021. From there, the ratio continued to fluctuate, reaching 0.22 by March 2024. These fluctuations suggest varying levels of debt and capital funding in the company's financial structure over the analyzed period.

It is important to monitor the trend of the debt-to-capital ratio over time as it can provide insights into the company's financial health and risk exposure. A lower ratio may indicate lower financial risk, while a higher ratio may suggest increased leverage and financial vulnerability.