HIGHBuilt-inProduct / Revenue mix
68%
apparel
“10-K Item 1: 'sales of apparel, footwear and accessories represented approximately 68%, 22% and 8% of net revenues, respectively'”
UA · Concentration risk · 10-K extracted
Under Armour (UA) concentration risks
Updated
The most significant concentration Under Armour discloses is apparel at 68%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Under Armour’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 6 disclosed concentrations
HIGH3
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
58%
North America
“10-K Item 1: 'Our North America segment accounted for approximately 58% of our net revenues for Fiscal 2026'”
HIGHOutside partySupplier
seven footwear manufacturers
“10-K Item 1: 'substantially all of our footwear products were manufactured by seven primary contract manufacturers'”
MEDIUMOutside partySupplier
69%
top ten apparel manufacturers
“10-K Item 1: 'ten produced approximately 69% of our apparel and accessories products'”
MEDIUMBuilt-inGeographic
Jordan, Vietnam, Indonesia and Cambodia
“10-K Item 1: 'approximately 65% of our apparel and accessories products manufactured in Jordan, Vietnam, Indonesia and Cambodia'”
MEDIUMOutside partySupplier
top five fabric suppliers
“10-K Item 1: 'our top five suppliers provided approximately 43% of the fabric used in our apparel and accessories'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile spans product mix, geography, and supply chain, with the dominant exposures all carrying high or moderate disclosed size. Apparel represented approximately 68% of net revenues, a high-share structural concentration, with footwear and accessories contributing approximately 22% and approximately 8% respectively. The reliance on apparel is a defining feature of the revenue mix rather than a dependency that could shift quickly. The North America segment accounted for approximately 58% of net revenues — also a high-share structural exposure reflecting the company's home-market skew and the depth of its retail and e-commerce relationships in the region. On the supply side, substantially all footwear products were manufactured by seven primary contract manufacturers — a high-share dependency given the limited number of qualified production partners for technical athletic footwear. For apparel, ten manufacturers produced approximately 69% of apparel and accessories products — a moderate-share concentration. Manufacturing geography is a further overlay: approximately 65% of apparel and accessories products were manufactured in Jordan, Vietnam, Indonesia, and Cambodia, with the top five fabric suppliers providing approximately 43% of fabric used in apparel and accessories — both moderate exposures. The intersection of a high-share North America revenue base, high-share footwear manufacturer dependency, and moderate apparel sourcing concentration means that tariff changes or supply disruptions in key manufacturing countries would compound rather than diversify the geographic revenue exposure.
For the engine’s reasoning on UA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Apparel Manufacturing
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| UA● | Under Armour, Inc. | 3 | 3 | 0 | 6 |
| COLM | Columbia Sportswear Company | 2 | 5 | 1 | 8 |
| KTB | Kontoor Brands, Inc. | 2 | 1 | 0 | 3 |
| LEVI | Levi Strauss & Co | 2 | 0 | 1 | 3 |
| PVH | PVH Corp. | 1 | 0 | 1 | 2 |
| FIGS | FIGS, Inc. | 1 | 0 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.