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1. Compute ratios for 2013 and 2014 to determine the following for Under Armour, Inc.:

a. The company's ability to pay its current liabilities. Was 2014 stronger or weaker than 2013?

b. The company's inventory turnover and days inventory outstanding (DIO); accounts receivable turnover and days sales outstanding (DSO), accounts payable turnover and days payable outstanding (DPO), and the number of days in its cash conversion cycle (CCC). 2012 figures for the company are as follows (in thousands): Accounts receivable (net) $175,524; Inventories $319,286; Accounts payable $143,689. Was 2014 stronger or weaker than 2013 based on these measures? (Assume all sales were on account.)

c. The company's rates of return on sales (ROS), average total assets (ROA), and average stockholders' equity (ROE), using DuPont analysis. For computation of averages, use the following amounts for 2012: total assets = $1,157,083; total stockholders' equity = $816,922. Did these ratios get stronger or weaker in 2014 compared to 2013?

2. Find Under Armour, Inc.'s, annual report for 2015 at http://www.sec.gov. Also perform research using an Internet site such as MSN Money or Yahoo! Finance to update the information from question 1.

3. What in your opinion is the company's outlook for the future? Would you buy the company's stock as an investment? Why or why not?

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