Gildan Activewear vs Under Armour
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KIRA’s take AI analyst
I put Gildan Activewear and Under Armour side by side, using each one’s latest annual report. Here is what stands out:
- Under Armour is the larger business, with $5.0B of revenue in fiscal 2026 against $3.6B for Gildan Activewear.
- Gildan Activewear grew revenue faster (10.7%, against −3.8%).
- Gildan Activewear kept more of each dollar of sales as operating profit (17.1% operating margin, against −3.3%).
- Gildan Activewear turned more of its sales into free cash flow (13.8% FCF margin, against −3.3%).
- Gildan Activewear earned a higher return on the capital invested in it (9.9%, against −6.0%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Gildan Activewear
GIL
9/10
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Under Armour
UAA
1/10
Gross margin
Side by side
Best in the row
| Latest fiscal year | GIL FY25 | UAA FY26 |
|---|---|---|
| Size | ||
| Market cap | $6.2B | $2.0B |
| Revenue | $3.6B | $5.0B |
| Free cash flow | $500M | −$162M |
| Net income | $399M | −$496M |
| Growth | ||
| Revenue growth | 10.7% | −3.8% |
| 5-year growth | 12.8% | 2.1% |
| Share count change | −6.2% | −1.3% |
| Profitability | ||
| Gross margin | 31.2% | 45.5% |
| Operating margin | 17.1% | −3.3% |
| Net margin | 11.0% | −10.0% |
| FCF margin | 13.8% | −3.3% |
| Return on capital | 9.9% | −6.0% |
| Return on equity | 15.9% | −30.0% |
| Balance sheet | ||
| Net debt | $4.0B | $881M |
| Net debt / EBITDA | 5.3x | — |
| Dividends and buybacks | $135M | $25.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | 3 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.