Abstract
The present dissertation is intended to present a valuation for Under Armour – a sportswear company that has experienced incredible growth in the recent past.Under Armour represents a story of entrepreneurship, focus and greatness, personalized by the founder and current CEO. Kevin Plank created the company in 1996, when he was only 23 years old, in the form of a t-shirt prototype. Since then, the company has experienced an IPO in 2005 and revealed consistent and extreme revenue growth and has been able to expand its operations worldwide.
Three different valuation models were applied, with the objective to find a range of values in which UA stock’s intrinsic value currently falls. The present valuation is also compared with an external one made by an equity research firm – The Buckingham Research Group. This comparison should contribute in giving the reader extra perspective regarding the valuation’s methodology and output.
After both processes, an investment note was issued, with a Buy recommendation and a target price of $37 per share for the Class A common stock.
| Date of Award | 23 Feb 2017 |
|---|---|
| Original language | English |
| Awarding Institution |
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| Supervisor | José Carlos Tudela Martins (Supervisor) |
Designation
- Mestrado em Gestão e Administração de Empresas