Under Armour Inc A (UAA)

Debt-to-capital ratio

		Mar 31, 2024	Mar 31, 2023	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	594,873	674,478	662,531	1,003,560	592,687
Total stockholders’ equity	US$ in thousands	2,153,290	1,966,150	2,088,990	1,675,990	2,150,090
Debt-to-capital ratio		0.22	0.26	0.24	0.37	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 A has shown fluctuations over the past five years. The ratio decreased from 0.37 at the end of December 2020 to 0.22 in both March 2024 and December 2019. This decrease indicates that the company had a lower level of debt relative to its capital structure in those periods.

In between, there were variations in the ratio, with the highest being 0.26 at the end of March 2023 and the lowest at 0.24 at the end of December 2021. These fluctuations suggest potential changes in the company's debt and capital levels during those specific periods.

Overall, the decreasing trend in the debt-to-capital ratio from December 2020 to March 2024 and the stability observed in comparison to December 2019 indicate that Under Armour Inc A has been managing its debt and capital structure effectively over the years, potentially improving its financial stability and risk profile.