Levi Strauss vs Under Armour
Levi Strauss reported revenue of $6.3 billion in fiscal 2025, 1.3 times Under Armour's $5.0 billion in fiscal 2026. Levi Strauss' revenue grew 4.1% in its latest year, and Under Armour's fell 3.8%. Levi Strauss had an operating margin of 10.8%, against -3.3% at Under Armour. Free cash flow was $308 million at Levi Strauss and −$162 million at Under Armour. Their fiscal years end in different months (November 30 and March 31), so the periods don't line up exactly.
Side by side
| Levi Strauss | Under Armour | |
|---|---|---|
| Latest fiscal year | FY2025, Nov 30, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $6.3B | $5.0B |
| Revenue growth | 4.1% | −3.8% |
| Revenue growth a year, last 5 years | 7.1% | 2.1% |
| Gross margin | 61.7% | 45.5% |
| Operating margin | 10.8% | −3.3% |
| Net margin | 9.2% | −10.0% |
| Free cash flow | $308M | −$162M |
| Free cash flow margin | 4.9% | −3.3% |
| Return on capital | 22.2% | −6.0% |
| Net debt to EBITDA | 0.3x | — |
| Dividends and buybacks | $243M | $25M |
| Change in diluted share count | −0.7% | −1.3% |
| Last close | $21.84 | $4.46 |
| P/E at the last close | 14.6× | — |
| Insider trades, last 12 months | sold $42.5 million | bought $224.9 million, sold $0 |
| Piotroski F-score | 7 of 9 | 3 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Levi StraussUnder Armour
Operating margin
Percent of revenue
Levi StraussUnder Armour
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Levi StraussUnder Armour
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Levi Strauss and Under Armour pages.