This project includes the business information about Under Armour, Inc. It demonstrates the mastery of analyzing the current financial position of a company and predicting the future growth.
How to do Under Armour's SWOT Analysis? Strengths, Weaknesses, Opportunities ...SWOT & PESTLE.com
Check out our latest publication on Under Armour, Inc. which is an American sports equipment company that manufactures and produces footwear, sports and casual apparel.
Check out the SWOT and PESTLE analysis on Under Armour- https://www.swotandpestle.com/under-armour/
The analysis covers the business strategy of Under Armour.
We appreciate Siddhesh Suhas Salkar 's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#UnderArmour #SWOTAnalysisUnderArmour #PESTLEAnalysisUnderArmour #MarketResearchUnderArmour #CustomisedResearchUnderArmour #StrategyUnderArmour #BusinessCasestudyUnderArmour #BusinessStrategyUnderArmour
#SWOTandPESTLEUnderArmour #SWOT #PESTLE #ConsultingUnderArmour
I made this PowerPoint presentation for my Consumer Behavior class in 2006. It was the for a project in which we examined Under Armour's integrated marketing communications, and made recommendations at the end.
Comprehensive Analysis on roadmap of strategic management
1) WHERE ARE WE NOW?
2) WHERE DO WE WANT TO GO?
3) HOW DO WE GET THERE?
4) HOW DO WE ENSURE OUR ARRIVAL?
How to do Under Armour's SWOT Analysis? Strengths, Weaknesses, Opportunities ...SWOT & PESTLE.com
Check out our latest publication on Under Armour, Inc. which is an American sports equipment company that manufactures and produces footwear, sports and casual apparel.
Check out the SWOT and PESTLE analysis on Under Armour- https://www.swotandpestle.com/under-armour/
The analysis covers the business strategy of Under Armour.
We appreciate Siddhesh Suhas Salkar 's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#UnderArmour #SWOTAnalysisUnderArmour #PESTLEAnalysisUnderArmour #MarketResearchUnderArmour #CustomisedResearchUnderArmour #StrategyUnderArmour #BusinessCasestudyUnderArmour #BusinessStrategyUnderArmour
#SWOTandPESTLEUnderArmour #SWOT #PESTLE #ConsultingUnderArmour
I made this PowerPoint presentation for my Consumer Behavior class in 2006. It was the for a project in which we examined Under Armour's integrated marketing communications, and made recommendations at the end.
Comprehensive Analysis on roadmap of strategic management
1) WHERE ARE WE NOW?
2) WHERE DO WE WANT TO GO?
3) HOW DO WE GET THERE?
4) HOW DO WE ENSURE OUR ARRIVAL?
My team and I did an in-depth overview of Nike's competitive position in the sports apparel and footwear industry as well as suggested strategies to help improve their performance.
Brief study on the Nike Sneakers revolution in the sports industry, Background of the company, Founders of the Nike, HARVARD CASE STUDY ON NIKE, SNKRS APP/application revolution, Nike Marketing Strategies, Nike colabaration with NBA Championship,
This ppt shows numerous aspects of the very famous Nike brand. It talks about Nike's history or origin, marketing strategy, various segmentations, brand positioning, marketing mix, competitors, social media presence and Nike in covid-19 era.
Basically its a group project done by Shayla Khan Shimu,Badhon Mahadi Islam , Shahanur Alam , Shamrat Banik from American International-University Bangladesh
Athletic Apparel Industry (Nike, Adidas, Under Armour, Puma)
Industry Overview,
Market Share,
Industry Analysis; External (Five Forces, PESTEL framework),
Strategy Analysis (Positioning map, Internal (SWOT) of each company) with spider charts, Performance evaluation.
My team and I did an in-depth overview of Nike's competitive position in the sports apparel and footwear industry as well as suggested strategies to help improve their performance.
Brief study on the Nike Sneakers revolution in the sports industry, Background of the company, Founders of the Nike, HARVARD CASE STUDY ON NIKE, SNKRS APP/application revolution, Nike Marketing Strategies, Nike colabaration with NBA Championship,
This ppt shows numerous aspects of the very famous Nike brand. It talks about Nike's history or origin, marketing strategy, various segmentations, brand positioning, marketing mix, competitors, social media presence and Nike in covid-19 era.
Basically its a group project done by Shayla Khan Shimu,Badhon Mahadi Islam , Shahanur Alam , Shamrat Banik from American International-University Bangladesh
Athletic Apparel Industry (Nike, Adidas, Under Armour, Puma)
Industry Overview,
Market Share,
Industry Analysis; External (Five Forces, PESTEL framework),
Strategy Analysis (Positioning map, Internal (SWOT) of each company) with spider charts, Performance evaluation.
Updated here - http://tinyurl.com/6bdl9m From cave painting to Blu-Ray, we have always told stories visually. However most presentations suuuuuuck! Let's see if we can redress that, shall we?
Save time and make the difference by using Porter’s Five Forces Templates in editable PowerPoint slides created by former Deloitte management consultants and talented designers.
This strategy tool will help you to assess the attractiveness of an industry or a market by analyzing the forces acting upon it.
BackgroundNike, originally called Blue Ribbon Sports (BRS), was.docxikirkton
Background:
Nike, originally called Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in January 1964 and then in 1971 it was officially called Nike, Greek name of the Goddess of victory. Nike is a USA multinational company that specialize in designing, developing and manufacturing of footwear, apparel, equipment and accessories. The company Headquarter is in Washington County, Oregon, in the Portland metropolitan area (Sage, 2008). Nike is present everywhere in the world thanks to its advanced supply chain and its broad line of products that it markets under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, and subsidiaries including Brand Jordan, Hurley International and Converse. Nike also sponsors high profile athletes like golf super star Tiger Woods under Nike golf and Also soccer Super star Cristiano Ronaldo and so many other Brilliant Athletes.
Nike has offices located in 45 countries outside the United States. Most of the factories are located in Asia, including Indonesia, China, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines, and Malaysia. Also, Nike employees more than 62,600 full-time employees as of the last fiscal year (Mergent, 2015). Nike is considered the major sports equipment supplier in the world, with more than $30 billion in revenues made in the fiscal year of 2015. In addition, Nike has a Market capitalization of $79 billion, net income of $3 billion with dividends of 1.12 and dividend yield of 0.96 (Mergent, 2015).
Nike’s CEO Mark Parker aged 59 years was leading the company in other ways way before he took the position of the CEO. He was a competitive runner at the Penn State University, when he joined Nike as the first footwear designer back in 1979 and was the center of innovation since then. For 30 years in the company he took the position of Vice President of global footwear and co-president of the Nike brand. He also was the leader in many industry breakthroughs in product design. Parker was also the leader in Nike’s global growth which included the acquisition of Converse and Hurley International LLC (Nike, 2015).
Financial Statements:
Standardized Annual Income Statement
Report Date
05/31/2015
Currency
USD
Scale
Thousands
Total Revenue
30601000
Direct Costs
16534000
Gross Profit
14067000
Selling General & Admin
9892000
Other Operating Expense
-58000
Total Indirect Operating Costs
9834000
Operating Income
4233000
Interest Income
-28000
Other Non-Operating Income
0
Total Non-Operating Income
-28000
Earnings Before Tax
4205000
Taxation
932000
Earnings After Tax
3273000
Discontinued Operations
-
Extraordinary Items
0
Accounting Changes
0
Net Income
3273000
(Mergent, 2015)
Nike Total revenues in 2015 were $30.6 billion, while direct costs were $16.5 billion leading to a gross profit of $14.1 billion. After deducting total operating cost, operat ...
Stock Valuation Analysis PowerPoint Presentation Slides is a tailor-made solution to create a professional presentation for valuation investors. This stock valuation PPT theme features a highly-visual format to present a crisp executive summary that includes equity research reports. Compile the industry overview in terms of latest industry trends, and competitive environment analysis through our securities valuation PowerPoint slideshow. Demonstrate your organizational highlights through the income statement, balance sheet, and shareholding pattern, using stock valuation review PPT template deck. This financial modeling PowerPoint presentation helps you to portray company performance employing financial ratio analysis. Elucidate on the company’s liquidity ratio, asset management ratio, leverage ratios, profitability ratios, and valuation ratio using investment research PPT slideshow. Take advantage of stock valuation research PowerPoint theme to Illustrate discounted cash flow method, relative valuation approach, and precedents overview. You can facilitate the explanation of types of risks, and their intensity by downloading this valuation process PPT presentation. https://bit.ly/2TPmcPX
Check out this presentation to learn how Jessica Kao used Marketo’s Revenue Cycle Analytics (RCA) at two different companies, Fluidigm and GuideSpark, to help marketing speak the language of business. Learn how she did it, where to begin, and expert tips for overcoming obstacles in your own measurement journey.
Company Valuation PowerPoint Presentation Slides SlideTeam
Get ready-made Company Valuation PowerPoint Presentation Slides to analyse all the profit and net value your business has made. Conduct a thorough evaluation of a company’s management, capital structure, future earning prospects, and more with the help of professionally designed company valuation PPT presentation templates. Determine the current worth of a business and assess all aspects of a business. This deck comprises of several company valuation PowerPoint templates like valuation methodology, valuation steps, company valuation methodologies, determining free cash flow, valuation results, business due-diligence process, strategic due-diligence methodology, and more. Incorporate business valuation PowerPoint slideshow to estimate the selling price of the business. Use business valuation methods PowerPoint techniques for valuing a business asset such as cost approach, cost to build, replacement cost, market approach, discounted cash flow, forecast future cash flow, etc. Grab access to the company valuation complete PowerPoint deck for a business analysis. Employ a few jocular expressions with our Company Valuation Powerpoint Presentation Slides. It helps insert a bit of humor.
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Get ready-made Company Valuation PowerPoint Presentation Slides to analyse all the profit and net value your business has made. Conduct a thorough evaluation of a company’s management, capital structure, future earning prospects, and more with the help of professionally designed company valuation PPT presentation templates. Determine the current worth of a business and assess all aspects of a business. This deck comprises of several company valuation PowerPoint templates like valuation methodology, valuation steps, company valuation methodologies, determining free cash flow, valuation results, business due-diligence process, strategic due-diligence methodology, and more. Incorporate business valuation PowerPoint slideshow to estimate the selling price of the business. Use business valuation methods PowerPoint techniques for valuing a business asset such as cost approach, cost to build, replacement cost, market approach, discounted cash flow, forecast future cash flow, etc. Grab access to the company valuation complete PowerPoint deck for a business analysis. Employ a few jocular expressions with our Company Valuation Powerpoint Presentation Slides. It helps insert a bit of humor. https://bit.ly/3umYjTk
Company Stock Analysis And Equity Research Report PowerPoint Presentation SlidesSlideTeam
A document prepared by research analyst that focuses on the performance of a particular stock or any sector or Country. An equity research report helps the investor to take an informed decision while making any particular investment. This presentation is helpful for equity research analyst and investment bankers with an objective to analyze the target companys financial performance, ratios and their financial model and help the investor take a buy or sell decision. In the beginning this presentation provides an overview of the equity research report and the analyst overview for the same. The analyst highlights provide an overview of the analyst opinion and a brief summary of the report. After understanding the summary of the report, and overview of the industry Is provided that studies the competitive environment and the key Industry trends. Once the industry scenario is understood, key highlights of the target company are identified. These highlight include the overview of the company, the income statement, balance sheet, vertical and horizontal analysis, shareholding pattern of the organization, its SWOT analysis and historical share price performance. After getting the general highlight of the organization, the financial ratios are then studied. These ratios can be liquidity ratio, asset management ratio, leverage ratio, profitability and valuation ratio. After understanding the key ratios of the organization, valuation analysis is done. Multiple valuation methods such as discounted cash flow, Relative value approach, and precedents analysis is done After analyzing the organization key risk factors are analyzed and ratings are provided to the same. In the end an overview of our organization is provided that includes the about the origination, the equity team structure and equity team members. To end the equity research report final review and rating are provided that gives an overall analyst rating. https://bit.ly/3jn6Zkp
Select a publicly traded, U.S. corporation with which you are fami.docxbagotjesusa
Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.
Research the company via the website and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.
Develop a 700-word examination of the financial statements and include the following:
· Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?
2014 $16,022,000
2015 $16,363,000
2016 $14,694,000
As of 2014, the income has gone up and looks like it’s to succeed this year.
Walmart had a solid year in fiscal 2015 as each operating segment improved its performance as the year progressed. While net sales grew nearly 2 percent and operating income increased 1 percent, our underlying performance was actually stronger.
· Explain the relevance of changes in net income to investors.
Investors are interested in a company's past net income because it provides useful information for predicting future net income. Investors buy and sell stock based on their beliefs about a company's future performance. will be successful in the future and that this will result in a higher stock price, they will buy its stock. The income statement helps users determine if the company's operations are profitable.
Garrison, R., Noreen, E., & Brewer, P. (2015). Managerial accounting (15th ed.). New York, NY: McGraw-Hill.
· Determine the ending balance in shareholders' equity. Why would organizations such as Labor Unions be interested in this?
2014 $76,255,000
2015 $81,394,000
2016 $80,546,000
The balance sheet will also be used to evaluate the relationship between debt and stockholders' equity to determine whether the company has a satisfactory proportion of debt and common stock financing.
Financial statements play a significant role in a collective bargaining agreement (CBA), that is, a mechanism that allows employers and employees to reach an agreement regarding rights and duties of workers. For example, a labor union delegate may show available cash balance to top management and explain that the corporation may not experience liquidity needs if benefits were increased by a certain amount.
Garrison, R., Noreen, E., & Brewer, P. (2015). Managerial accounting (15th ed.). New York, NY: McGraw-Hill.
A labor union representative often may not focus on a company's statement of retained earnings because this statement only includes movements within owners' accounts. However, there are instances in which a labor union delegate may ask top management to reduce dividends paid to shareholders and increase employee salaries or benefits.
http://www.ehow.com/about_6626115_financial-statements-important-labor-unions_.html
· Determine the total value of assets.
2014 $61,185,000
2015 $63,278,000
2016 $60,239,000
· Discuss the relevance of the total value of assets to potential creditors and why this is important.
The balance sheet helps users determi.
In the 2014 Brand Finance Brand Value League Tables, Aegon moved up 2 places to be ranked 8th most valuable brand in the Netherlands. Aegon also moved up 80 places in the global index, to 243rd place.
Attribution and Affiliate Marketing Learn to Make it WorkAffiliate Summit
This presentation is from Affiliate Summit East 2016 (July 31-August 2, 2016 in New York City, NY). Session description: Learn how attribution modeling and other cross channel insights can help you more intelligently manage your affiliate program and determine which affiliates are driving the highest value.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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Improving profitability for small businessBen Wann
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[Note: This is a partial preview. To download this presentation, visit:
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
2. Company Overview
Industry:
Sports Apparel and Equipment
Founded:
1996, Baltimore, Maryland
CEO:
Kevin Plank
IPO:
2005 (UA)
Market Cap:
$18.4 Billion (as of Dec 3, 2015)
3. Major Milestones
Under Armour was
founded as
an athletic
apparel company
New headquarter
and warehouse
in Baltimore
Entered athletic
footwear market
IPO with
revenue $281M
Launched
women's line
$1B
revenue
4. Consecutive Years of Revenue Growth
$10B
$20B
$30B
$40B
(Founded)
Source: UA Investor Day
7. Revenue Exposure by Country
Source: FactSet as of October 22, 2015
Trailing Twelve Month Revenue: $3.7B
%
%
%
%
8. Global Expansion
226 stores
11 Countries
1.1 M SQ FT
1000+ stores
40+ Countries
3M+ SQ FT
YE 2014
62%
North America
38%
International
YE 2018
20%
North America
80%
International
9. Major Changes
Acquisitions
Change in
management
- MapMyFitness [Dec 2013]
- Endomondo [Jan 2015]
- MyFitnessPal [Feb 2015]
- CFO/COO, Brad
Dickerson to step down in
Feb 2016
Automated
Manufacturing
- “Project Glory”
- Physical space in Baltimore
- Reduce human touches
by up to 30%
- Improved supply chain
12. Global Sports and Apparel Industry
Source: Statista
$132B $135B
$141B $146B
$152B
$158B
$165B
$171B
Projected Industry in Billions
13. Athletic and Sporting Goods in the US
5 Year Expected Growth
Revenue expected to increase at an annualized rate of 0.6% to $9.3B
Key information:
● Highly competitive and fragmented with many brands competing
● Many mergers and acquisitions over recent years
● Increasing demand for versatile wear with wider functionality
● More health-conscious and older demographics
● Women = strong consumer demographic
● More collaboration between sports and fashion industry
Major Market Segment 2015
Total volume: $9.1B
Source: IBISWorld, Statista
14. Competitive Landscape
Source: Yahoo Finance, FactSet
Years as Public Company
0 5 10 15 20 25 30 35 40 45
Nike
Adidas
Lululemon
V.F. Corporation
Under Armour
Columbia Sportswear
$111.3B
$27.2B
$3.2B
$18.4B
$6.9B
$40.0
$35.0
$30.0
$25.0
$20.0
$15.0
$10.0
$5.0
$0.0
LTMRevenueinBillions
$19.6B
22. Analyst Review of Q3 Earnings Call
● Future growth of Connected Fitness (SAP
platform) - targeted consumer experience
● International retail and footwear expansion
● New e-commerce site
● Apparel growth for Womens & Casual
activewear (ex. polo shirts, chinos)
● Robust revenue
● CFO search is a positive catalyst
● China retail strategy a new growth driver
○ Direct retail expansion in China:
aims for 1,000-1,500 stores
○ 70% of stores to be run by
distributors by 2018
● China footwear aggressive growth
UA warrants a higher valuation
relative to peers
Balanced by accelerated
investments in key drivers:
23. Key Reasons for Stock Behavior
Higher mix
of footwear
revenues
Higher air
freight costs
Unanticipated
FX Pressure
Gross Margin
Impact
M&A of
connected
fitness
New
opportunities
Management
transition
Investments
24. ● Partnership allows creating a single user database
with insights on consumer purchase habits
● Advent to targeted marketing
New Findings & Future Guidance for Investors
Expand to Casual
Activewear
Connect Fitness &
SAP Partnership
Adding Talent in
Women’s Footwear
● Hiring
● Women’s footwear focus
● Long-term investment in apparel for
outside the gym (eg. polo shirts, chinos)
● Innovations in apparel functionality
28. Ratio Analysis-Profitability
● ROE = Net Income / Equity
● Decrease of ROE: Increase on Equity > Increase on Net Income
● 3 Main attributes to Equity increase
○ Exercise of stock options
○ Issuance of common stocks
○ Converted convertible stocks
29. Ratio Analysis-Assets Turnover
● Loosen credit sales policy -> Credit risk ● Increasing inventory turnover on Q3-2015
due to credit sales
31. Ratio Analysis-PE Band
78.3
● The standard deviation band:
○ Measures the historical variation/volatility from
the average PE
○ 95% fall within the range
● Recent performance suggested PE ratio:
○ Unpredictable of the future pattern
61.0
32. Source: All data and estimates from Bloomberg, LP
Relative Valuation: Method of Comparables
As of November 30, 2015
($ in millions, except per share data)
33. Source: All data and estimates from Bloomberg, LP
Relative Valuation: Method of Comparables
As of November 30, 2015
($ in millions, except per share data)
34. Source: All data from Bloomberg, LP
Absolute Valuation: Discounted Cash Flow Method
As of November 30, 2015
35. Source: All estimates from most recently published analyst reports
Leading Investment Bank Estimates (DCF Inputs)
As of November 30, 2015
36. Source: All estimates from most recently published analyst reports
Leading Investment Bank Estimates (DCF Inputs)
As of November 30, 2015
37. Discounted Cash Flow Output
Market Price as of November 30th, 2015:
Therefore: Fairly Valued!
THEORETICAL VALUE PER SHARE
$85.54
$86.22
Our Criteria: If absolute value + / - 10% of its current market price, Under Armour over / under valued
39. Credit Analysis
Notes: [1] Total Debt to Assets ratio calculated as total liabilities divided by total assets, net of goodwill.
Financial Strength Debt & Commitments Capacity to Repay
40. Concluding Remarks
EQUITY INVESTMENT
● On comparable basis: overvalued
● Absolute value vs Market Price; fairly valued
● High risk/return potential; growth stock
Debt Covenants
- Additional issuance of debt is not permitted without our approval
- The Company must maintain an Interest Coverage Ratio of at least 3.5x
- The Company must not exceed a Leverage Ratio of greater than 2.5x
DEBT INVESTMENT
● Strong balance sheet
● More than enough operating strength
to sustain additional debt
Is Under Armour’s growth sustainable?