Under Armour Inc A (UAA)

Solvency ratios

	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
Debt-to-assets ratio	0.12	0.12	0.13	0.12	0.14	0.14	0.14	0.15	0.13	0.14	0.17	0.21	0.20	0.21	0.20	0.12	0.12	0.13	0.13	0.13
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
Debt-to-equity ratio	0.28	0.27	0.28	0.30	0.34	0.37	0.37	0.39	0.32	0.34	0.44	0.57	0.60	0.68	0.69	0.38	0.28	0.27	0.29	0.29
Financial leverage ratio	2.21	2.32	2.27	2.43	2.46	2.64	2.63	2.66	2.39	2.44	2.64	2.78	3.00	3.31	3.52	3.12	2.25	2.15	2.28	2.16

The solvency ratios for Under Armour Inc A indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has remained relatively stable between 0.12 and 0.15 over the past few quarters, suggesting that the company has a low level of debt relative to its total assets.

The debt-to-capital and debt-to-equity ratios have shown some fluctuations, with values ranging from 0.21 to 0.41 and from 0.27 to 0.69, respectively. These ratios indicate the proportion of debt in the company's capital structure. The debt-to-capital ratio has generally increased, while the debt-to-equity ratio has fluctuated more significantly, hinting at a higher level of financial leverage.

The financial leverage ratio, which reflects the company's total assets in relation to equity, has also shown variability, ranging from 2.15 to 3.52. The increasing trend in this ratio implies that the company is relying more on debt financing to support its operations.

Overall, while the company's debt levels seem manageable based on the debt-to-assets ratio, the increasing trends in the debt-to-capital, debt-to-equity, and financial leverage ratios suggest a higher level of financial risk and potential vulnerability to economic downturns or unexpected market conditions.

Coverage ratios

	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
Interest coverage	9.88	17.63	28.95	24.04	25.24	73.00	54.21	34.02	28.79	15.07	10.79	2.30	-35.52	-54.24	-85.90	-83.84	55.66	41.67	36.21	10.65

The interest coverage ratio for Under Armour Inc A has shown a fluctuating trend over the reported periods. The ratio has ranged from negative values, indicating insufficient earnings to cover interest expenses, to positive values reflecting the company's ability to meet its interest obligations.

In recent quarters, the interest coverage ratio has shown significant improvement, reaching levels above 20x, which suggests that the company is generating more than enough operating income to cover its interest expenses comfortably. This indicates a positive sign of financial health and stability.

However, caution should be exercised when interpreting the ratio, especially in periods where it dropped significantly or turned negative, as this could signal potential financial distress or challenges in meeting debt obligations. Overall, monitoring the trend of the interest coverage ratio is important for assessing the company's financial performance and debt servicing capacity.