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Side-by-side financial comparison of Qnity Electronics, Inc. (Q) and Under Armour, Inc. (UAA). Click either name above to swap in a different company.
Under Armour, Inc. is the larger business by last-quarter revenue ($1.3B vs $1.3B, roughly 1.0× Qnity Electronics, Inc.). Qnity Electronics, Inc. runs the higher net margin — 12.3% vs -32.4%, a 44.8% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (10.5% vs -5.2%).
Under Armour, Inc. is an American sportswear company that manufactures footwear and apparel headquartered in Baltimore, Maryland, United States.
Q vs UAA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.3B |
| Net Profit | $162.0M | $-430.8M |
| Gross Margin | 47.0% | 44.4% |
| Operating Margin | — | -11.3% |
| Net Margin | 12.3% | -32.4% |
| Revenue YoY | 10.5% | -5.2% |
| Net Profit YoY | 48.6% | -35013.0% |
| EPS (diluted) | $0.72 | $-1.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $-430.8M | ||
| Q3 25 | $211.0M | $-18.8M | ||
| Q2 25 | — | $-2.6M | ||
| Q1 25 | — | $-67.5M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $199.0M | $170.4M | ||
| Q2 24 | — | $-305.4M |
| Q1 26 | 47.0% | — | ||
| Q4 25 | — | 44.4% | ||
| Q3 25 | 45.1% | 47.3% | ||
| Q2 25 | — | 48.2% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 47.5% | ||
| Q3 24 | 47.0% | 49.8% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | -11.3% | ||
| Q3 25 | 21.3% | 1.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | -6.1% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | 21.8% | 12.4% | ||
| Q2 24 | — | -25.3% |
| Q1 26 | 12.3% | — | ||
| Q4 25 | — | -32.4% | ||
| Q3 25 | 16.5% | -1.4% | ||
| Q2 25 | — | -0.2% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 17.3% | 12.2% | ||
| Q2 24 | — | -25.8% |
| Q1 26 | $0.72 | — | ||
| Q4 25 | — | $-1.01 | ||
| Q3 25 | $1.01 | $-0.04 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $0.00 | ||
| Q3 24 | $0.95 | $0.39 | ||
| Q2 24 | — | $-0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $857.0M | $464.6M |
| Total DebtLower is stronger | $4.0B | $989.7M |
| Stockholders' EquityBook value | $7.5B | $1.4B |
| Total Assets | $14.1B | $4.6B |
| Debt / EquityLower = less leverage | 0.54× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $857.0M | — | ||
| Q4 25 | — | $464.6M | ||
| Q3 25 | $128.0M | $396.0M | ||
| Q2 25 | — | $911.0M | ||
| Q1 25 | — | $501.4M | ||
| Q4 24 | — | $726.9M | ||
| Q3 24 | — | $530.7M | ||
| Q2 24 | — | $884.6M |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | $989.7M | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | — | $989.2M | ||
| Q1 25 | — | $595.1M | ||
| Q4 24 | — | $595.2M | ||
| Q3 24 | — | $594.6M | ||
| Q2 24 | — | $595.4M |
| Q1 26 | $7.5B | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $9.1B | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $11.1B | $2.0B | ||
| Q2 24 | — | $1.8B |
| Q1 26 | $14.1B | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | $12.5B | $4.9B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.9B |
| Q1 26 | 0.54× | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | 0.19× | 0.64× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.30× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.33× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $278.1M |
| Free Cash FlowOCF − Capex | — | $261.9M |
| FCF MarginFCF / Revenue | — | 19.7% |
| Capex IntensityCapex / Revenue | 9.3% | 1.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-45.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $278.1M | ||
| Q3 25 | $782.0M | $-69.8M | ||
| Q2 25 | — | $48.9M | ||
| Q1 25 | — | $-202.2M | ||
| Q4 24 | — | $311.3M | ||
| Q3 24 | — | $-321.4M | ||
| Q2 24 | — | $153.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $261.9M | ||
| Q3 25 | $568.0M | $-90.3M | ||
| Q2 25 | — | $13.5M | ||
| Q1 25 | — | $-231.0M | ||
| Q4 24 | — | $262.9M | ||
| Q3 24 | — | $-367.2M | ||
| Q2 24 | — | $107.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.7% | ||
| Q3 25 | 44.5% | -6.8% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | -19.6% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | — | -26.2% | ||
| Q2 24 | — | 9.1% |
| Q1 26 | 9.3% | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | 16.8% | 1.5% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 3.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.71× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 252.26× | ||
| Q3 24 | — | -1.89× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
Q
Segment breakdown not available.
UAA
| Apparel | $934.0M | 70% |
| Footwear | $265.1M | 20% |
| Accessories | $107.7M | 8% |
| License | $27.2M | 2% |
