Under Armour Inc A (UAA)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-129,261	-17,648	-46,786	266,011	293,550	314,836	284,904	285,723	365,802	357,780	317,838	392,132	508,418	411,244	155,978	-499,789	-695,949	-599,522	-436,579	162,163
Revenue (ttm)	US$ in thousands	5,315,920	5,400,920	5,568,570	5,701,870	5,768,270	5,863,720	5,870,930	5,903,030	6,033,630	5,997,670	5,775,320	5,683,460	5,558,030	5,445,520	4,801,630	4,474,670	4,512,120	4,508,560	4,992,650	5,267,130
Pretax margin		-2.43%	-0.33%	-0.84%	4.67%	5.09%	5.37%	4.85%	4.84%	6.06%	5.97%	5.50%	6.90%	9.15%	7.55%	3.25%	-11.17%	-15.42%	-13.30%	-8.74%	3.08%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-129,261K ÷ $5,315,920K
= -2.43%

Under Armour Inc A's pretax margin has shown fluctuating trends over the analyzed period. From December 31, 2019, to December 31, 2020, the pretax margin remained negative, indicating challenges in generating profits before taxes. However, starting from March 31, 2021, the pretax margin turned positive and experienced steady growth, reaching its peak at 9.15% on September 30, 2021. Despite some fluctuations afterwards, the pretax margin remained relatively stable above zero, suggesting improved profitability efficiency during these periods. However, towards the end of the analyzed timeframe, the pretax margin started to decline again, turning negative by June 30, 2024. This reversal may indicate renewed challenges in the company's profitability performance, warranting further investigation.