Under Armour, Inc. Earnings Per Share Disclosure
NOTE 16. EARNINGS PER SHARE | ||
| Year Ended March 31, | |||||||||||||||||
| 2026 | 2025 | 2024 | |||||||||||||||
| Numerator | |||||||||||||||||
| Net income (loss) - Basic | $ | (495,643) | $ | (201,267) | $ | 232,042 | |||||||||||
Interest on Convertible Senior Notes due 2024, net of tax(1) | — | — | 901 | ||||||||||||||
| Net income (loss) - Diluted | $ | (495,643) | $ | (201,267) | $ | 232,943 | |||||||||||
| Denominator | |||||||||||||||||
| Weighted average common shares outstanding Class A, B and C - Basic | 426,575 | 432,245 | 440,324 | ||||||||||||||
Dilutive effect of Class A and C securities(2) | — | — | 2,445 | ||||||||||||||
Dilutive effect of Convertible Senior Notes due 2024(1) | — | — | 8,242 | ||||||||||||||
| Weighted average common shares and dilutive securities outstanding Class A, B, and C - Diluted | 426,575 | 432,245 | 451,011 | ||||||||||||||
Class A and Class C securities excluded as anti-dilutive (3) | 13,433 | 10,656 | 15,076 | ||||||||||||||
| Net income (loss) per share of Class A, B and C common stock - Basic | $ | (1.16) | $ | (0.47) | $ | 0.53 | |||||||||||
| Net income (loss) per share of Class A, B and C common stock - Diluted | $ | (1.16) | $ | (0.47) | $ | 0.52 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 19, 2026 | Showing above |
| 2025 | May 22, 2025 | |
| 2024 | May 29, 2024 | |
| 2023 | May 24, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 22, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.