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Carters vs Under Armour: revenue, profit, margins and growth compared

Carters brought in $2.9B of revenue in fiscal 2025, Under Armour $5B in fiscal 2026. Revenue changed by +1.9% at Carters and -3.8% at Under Armour on the year before, so Carters grew faster. Carters kept 3.2% of its revenue as net profit, Under Armour -10.0%. Free cash flow was $68.6M at Carters and -$162.2M at Under Armour.

Side by side, latest fiscal year

CRIUAA
Fiscal year endedFY2025 (January 3, 2026)FY2026 (March 31, 2026)
Revenue$2.9B$5B
Revenue growth+1.9%-3.8%
Net income$91.8M-$495.6M
Net margin3.2%-10.0%
Free cash flow$68.6M-$162.2M
Free cash flow margin2.4%-3.3%
Earnings per share (diluted)$2.53-$1.16
Cash$487.1M$309.2M
Debt$567.2M$1.2B
Price to earnings12.4n/a
Market value$1.1B$1.9B
Dividend yield4.95%n/a
Rank by revenue in sector#293 of 778 · Consumer discretionary#204 of 778 · Consumer discretionary

Over the years

Revenue
CRI FY2018: $3.5BCRI FY2019: $3.5BCRI FY2020: $3BCRI FY2021: $3.5BCRI FY2022: $3.2BCRI FY2023: $2.9BCRI FY2024: $2.8BCRI FY2025: $2.9BUAA FY2018: $5.2BUAA FY2019: $5.3BUAA FY2020: $4.5BUAA FY2021: $5.7BUAA FY2023: $5.9BUAA FY2024: $5.7BUAA FY2025: $5.2BUAA FY2026: $5BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRI $2.9BUAA $5B
Net income
CRI FY2018: $282.1MCRI FY2019: $263.8MCRI FY2020: $109.7MCRI FY2021: $339.7MCRI FY2022: $250MCRI FY2023: $232.5MCRI FY2024: $185.5MCRI FY2025: $91.8MUAA FY2018: -$46.3MUAA FY2019: $92.1MUAA FY2020: -$549.2MUAA FY2021: $351MUAA FY2023: $374.5MUAA FY2024: $232MUAA FY2025: -$201.3MUAA FY2026: -$495.6MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRI $91.8MUAA -$495.6M
Net margin
CRI FY2018: 8.1%CRI FY2019: 7.5%CRI FY2020: 3.6%CRI FY2021: 9.7%CRI FY2022: 7.8%CRI FY2023: 7.9%CRI FY2024: 6.5%CRI FY2025: 3.2%UAA FY2018: -0.9%UAA FY2019: 1.7%UAA FY2020: -12.3%UAA FY2021: 6.2%UAA FY2023: 6.3%UAA FY2024: 4.1%UAA FY2025: -3.9%UAA FY2026: -10.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CRI 3.2%UAA -10.0%
Revenue growth
CRI FY2019: +1.6%CRI FY2020: -14.1%CRI FY2021: +15.3%CRI FY2022: -7.9%CRI FY2023: -8.3%CRI FY2024: -3.4%CRI FY2025: +1.9%UAA FY2019: +1.4%UAA FY2020: -15.0%UAA FY2021: +27.0%UAA FY2024: -3.4%UAA FY2025: -9.4%UAA FY2026: -3.8%FY19FY20FY21FY22FY23FY24FY25FY26
CRI +1.9%UAA -3.8%
Free cash flow
CRI FY2018: $292.4MCRI FY2019: $325.8MCRI FY2020: $555.6MCRI FY2021: $230.8MCRI FY2022: $48MCRI FY2023: $469.3MCRI FY2024: $242.6MCRI FY2025: $68.6MUAA FY2018: $457.8MUAA FY2019: $363.2MUAA FY2020: $120.6MUAA FY2021: $594.5MUAA FY2023: -$198MUAA FY2024: $203.6MUAA FY2025: -$228MUAA FY2026: -$162.2MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRI $68.6MUAA -$162.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Carters and Under Armour

Which is bigger by revenue, Carters or Under Armour?

Under Armour is bigger by revenue: $5B in fiscal 2026, against $2.9B for Carters in fiscal 2025.

Which keeps more of its revenue as profit, Carters or Under Armour?

Carters had a net margin of 3.2% in fiscal 2025; Under Armour had -10.0% in fiscal 2026.

Which grew revenue faster, Carters or Under Armour?

In their latest fiscal years revenue changed by +1.9% at Carters and -3.8% at Under Armour.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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