UFP Technologies, Inc. (UFPT) 10-Year Financial Performance & Capital Metrics

UFPT • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Device Components & Materials

AboutUFP Technologies, Inc. designs and custom manufactures components, subassemblies, products, and packaging utilizing specialized foams, films, and plastics primarily for the medical market. Its single-use and single-patient devices and components are used in a range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging. The company also provides engineered products and components to customers in the automotive, aerospace and defense, consumer, electronics, and industrial markets, which are applied in military uniform and gear components, automotive interior trim, athletic padding, environmentally protective packaging, air filtration, abrasive nail files, and protective cases and inserts. It markets and sells its products in the United States principally through a direct sales force, as well as independent manufacturer representatives. The company was founded in 1963 and is headquartered in Newburyport, Massachusetts.Show more

Revenue $504M +26.1%
EBITDA $96M +38.4%
Net Income $59M +31.3%
EPS (Diluted) 7.58 +30.0%
Gross Margin 29.08% +3.7%
EBITDA Margin 18.95% +9.8%
Operating Margin 16.04% +11.3%
Net Margin 11.69% +4.1%
ROE 18.76% +9.3%
ROIC 14.07% +2.2%
Debt/Equity 0.60 +273.5%
Interest Coverage 10.04 -36.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 24.5%
✓Strong 5Y sales CAGR of 20.5%
✓Good 3Y average ROE of 18.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.73%

5Y20.52%

3Y34.72%

TTM29.47%

Profit (Net Income) CAGR

10Y22.81%

5Y24.46%

3Y54.85%

TTM23.81%

EPS CAGR

10Y21.86%

5Y23.58%

3Y53.64%

TTM23.11%

ROCE

10Y Avg13.03%

5Y Avg14.26%

3Y Avg17.74%

Latest18%

Peer Comparison

Medical Device Components & Materials

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UFPTUFP Technologies, Inc.	1.98B	257.36	33.95	26.08%	11.23%	16.62%	2.87%	0.60
SINTSintx Technologies, Inc.	14.14M	3.67	-0.24	-52.57%	-13.59%	-407.15%		1.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	138.85M	146.13M	147.84M	190.46M	198.38M	179.37M	206.32M	353.79M	400.07M	504.42M
Revenue Growth %	-0%	0.05%	0.01%	0.29%	0.04%	-0.1%	0.15%	0.71%	0.13%	0.26%
Cost of Goods Sold+	101.4M	111.48M	112.36M	142.15M	144.42M	134.69M	155.21M	263.53M	287.85M	357.73M
COGS % of Revenue	0.73%	0.76%	0.76%	0.75%	0.73%	0.75%	0.75%	0.74%	0.72%	0.71%
Gross Profit+	37.45M	34.65M	35.49M	48.31M	53.96M	44.68M	51.11M	90.26M	112.22M	146.69M
Gross Margin %	0.27%	0.24%	0.24%	0.25%	0.27%	0.25%	0.25%	0.26%	0.28%	0.29%
Gross Profit Growth %	0.02%	-0.07%	0.02%	0.36%	0.12%	-0.17%	0.14%	0.77%	0.24%	0.31%
Operating Expenses+	24.01M	24.11M	23.84M	27.76M	29.25M	27.95M	29.9M	34.86M	54.56M	65.8M
OpEx % of Revenue	0.17%	0.16%	0.16%	0.15%	0.15%	0.16%	0.14%	0.1%	0.14%	0.13%
Selling, General & Admin	24.01M	24.11M	23.84M	27.76M	29.25M	27.49M	29.48M	45.8M	50.89M	62.22M
SG&A % of Revenue	0.17%	0.16%	0.16%	0.15%	0.15%	0.15%	0.14%	0.13%	0.13%	0.12%
Research & Development	1.3M	1.3M	1.1M	10.5M	0	0	0	0	0	0
R&D % of Revenue	0.01%	0.01%	0.01%	0.06%	-	-	-	-	-	-
Other Operating Expenses	0	0	-1.1M	64K	0	459K	416K	-10.94M	3.67M	3.58M
Operating Income+	11.71M	12.24M	11.69M	19.61M	24.71M	16.73M	21.22M	55.4M	57.66M	80.9M
Operating Margin %	0.08%	0.08%	0.08%	0.1%	0.12%	0.09%	0.1%	0.16%	0.14%	0.16%
Operating Income Growth %	0.01%	0.04%	-0.04%	0.68%	0.26%	-0.32%	0.27%	1.61%	0.04%	0.4%
EBITDA+	16.56M	17.87M	17.33M	27.44M	32.88M	25M	29.63M	67.29M	69.07M	95.61M
EBITDA Margin %	0.12%	0.12%	0.12%	0.14%	0.17%	0.14%	0.14%	0.19%	0.17%	0.19%
EBITDA Growth %	0.04%	0.08%	-0.03%	0.58%	0.2%	-0.24%	0.19%	1.27%	0.03%	0.38%
D&A (Non-Cash Add-back)	4.85M	5.63M	5.63M	7.83M	8.17M	8.27M	8.41M	11.89M	11.41M	14.71M
EBIT	13.45M	12.39M	11.76M	20.65M	24.32M	16.37M	21.24M	55.48M	57.55M	81.09M
Net Interest Income+	27K	80K	166K	-1.27M	-674K	-83K	10K	-2.76M	-3.65M	-8.06M
Interest Income	0	149K	216K	47K	0	0	49K	0	0	0
Interest Expense	27K	69K	50K	1.32M	674K	83K	39K	2.76M	3.65M	8.06M
Other Income/Expense	27K	80K	166K	-1.21M	-1.06M	-449K	-13K	-2.68M	-3.76M	-7.87M
Pretax Income+	11.74M	12.32M	11.86M	18.4M	23.65M	16.28M	21.2M	52.72M	53.9M	73.03M
Pretax Margin %	0.08%	0.08%	0.08%	0.1%	0.12%	0.09%	0.1%	0.15%	0.13%	0.14%
Income Tax+	4.15M	4.35M	2.65M	4.09M	3.9M	2.91M	5.32M	10.93M	8.98M	14.04M
Effective Tax Rate %	0.65%	0.65%	0.78%	0.78%	0.84%	0.82%	0.75%	0.79%	0.83%	0.81%
Net Income+	7.59M	7.97M	9.21M	14.31M	19.75M	13.37M	15.89M	41.79M	44.92M	58.98M
Net Margin %	0.05%	0.05%	0.06%	0.08%	0.1%	0.07%	0.08%	0.12%	0.11%	0.12%
Net Income Growth %	0%	0.05%	0.16%	0.55%	0.38%	-0.32%	0.19%	1.63%	0.08%	0.31%
Net Income (Continuing)	7.59M	7.97M	9.21M	14.31M	19.75M	13.37M	15.89M	41.79M	44.92M	58.98M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-587K	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.05	1.10	1.26	1.93	2.63	1.77	2.09	5.45	5.83	7.58
EPS Growth %	0%	0.05%	0.15%	0.53%	0.36%	-0.33%	0.18%	1.61%	0.07%	0.3%
EPS (Basic)	1.07	1.11	1.27	1.95	2.66	1.79	2.11	5.52	5.89	7.69
Diluted Shares Outstanding	7.22M	7.28M	7.34M	7.43M	7.52M	7.57M	7.62M	7.66M	7.7M	7.79M
Basic Shares Outstanding	7.12M	7.19M	7.25M	7.35M	7.42M	7.48M	7.52M	7.56M	7.62M	7.67M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	63.6M	69.85M	75.07M	55.63M	53.25M	71.86M	87.32M	116.35M	144.63M	194.94M
Cash & Short-Term Investments	29.8M	31.36M	37.98M	3.24M	3.74M	24.23M	11.12M	4.45M	5.26M	13.45M
Cash Only	29.8M	31.36M	37.98M	3.24M	3.74M	24.23M	11.12M	4.45M	5.26M	13.45M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	17.48M	21.25M	21.38M	28.32M	28.93M	26.43M	39.38M	55.12M	65.75M	89.66M
Days Sales Outstanding	45.95	53.07	52.79	54.28	53.22	53.78	69.67	56.86	59.98	64.88
Inventory	14.2M	14.15M	12.86M	19.58M	18.28M	18.64M	33.44M	53.54M	70.19M	87.54M
Days Inventory Outstanding	51.12	46.33	41.79	50.27	46.19	50.52	78.63	74.15	89	89.32
Other Current Assets	871K	807K	1.02M	2.29M	0	0	0	0	0	0
Total Non-Current Assets+	56.35M	58.09M	63.13M	133.97M	135.51M	131.34M	246.81M	261.85M	259.5M	434.05M
Property, Plant & Equipment	46.55M	48.52M	53.65M	57.67M	59.77M	55.91M	65.89M	71.22M	75.72M	86.71M
Fixed Asset Turnover	2.98x	3.01x	2.76x	3.30x	3.32x	3.21x	3.13x	4.97x	5.28x	5.82x
Goodwill	7.32M	7.32M	7.32M	51.84M	51.84M	51.84M	107.91M	113.03M	113.26M	189.66M
Intangible Assets	636K	318K	0	22.23M	20.98M	19.72M	67.58M	68.36M	64.12M	144.25M
Long-Term Investments	-10.84M	-11.1M	-9.76M	-4.13M	0	0	0	0	0	6.81M
Other Non-Current Assets	9.79M	9.57M	9.48M	2.23M	2.92M	3.88M	5.43M	7.78M	5.79M	6.62M
Total Assets+	119.95M	127.93M	138.21M	189.6M	188.76M	203.2M	334.13M	378.19M	404.14M	629M
Asset Turnover	1.16x	1.14x	1.07x	1.00x	1.05x	0.88x	0.62x	0.94x	0.99x	0.80x
Asset Growth %	0.06%	0.07%	0.08%	0.37%	-0%	0.08%	0.64%	0.13%	0.07%	0.56%
Total Current Liabilities+	10.98M	9.56M	9.94M	20.66M	16.78M	15.14M	38.78M	55.96M	58.21M	76.3M
Accounts Payable	4.6M	4M	4.18M	6.84M	4.58M	4.12M	10.61M	19.96M	22.29M	24.27M
Days Payables Outstanding	16.55	13.1	13.58	17.55	11.57	11.17	24.95	27.65	28.26	24.76
Short-Term Debt	1.01M	856K	0	2.86M	0	0	4M	4M	4M	12.5M
Deferred Revenue (Current)	0	0	297K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	1.42M	0	3.86M	2.63M	6.31M	5.71M	11.2M	7.95M	8.74M	11.29M
Current Ratio	5.79x	7.31x	7.55x	2.69x	3.17x	4.75x	2.25x	2.08x	2.48x	2.56x
Quick Ratio	4.50x	5.83x	6.26x	1.75x	2.08x	3.52x	1.39x	1.12x	1.28x	1.41x
Cash Conversion Cycle	80.52	86.3	80.99	86.99	87.84	93.13	123.35	103.37	120.73	129.43
Total Non-Current Liabilities+	5.39M	5.33M	4.55M	28.48M	9.98M	11.17M	100.9M	84.69M	59.84M	209.94M
Long-Term Debt	859K	0	0	22.29M	0	0	71M	51M	28M	176.88M
Capital Lease Obligations	0	0	0	0	1.94M	1.04M	7.12M	10.85M	10.81M	12.43M
Deferred Tax Liabilities	2.88M	3.46M	2.44M	4.13M	4.92M	5.06M	3.26M	448K	428K	3.3M
Other Non-Current Liabilities	4.54M	5.33M	2.11M	6.2M	3.12M	5.08M	19.52M	22.39M	20.59M	17.34M
Total Liabilities	16.38M	14.88M	14.49M	49.14M	26.77M	26.31M	139.69M	140.65M	118.05M	286.24M
Total Debt+	1.87M	856K	0	25.14M	3.09M	2.21M	84.36M	68.37M	46.04M	206.03M
Net Debt	-27.93M	-30.5M	-37.98M	21.91M	-653K	-22.03M	73.24M	63.92M	40.77M	192.58M
Debt / Equity	0.02x	0.01x	-	0.18x	0.02x	0.01x	0.43x	0.29x	0.16x	0.60x
Debt / EBITDA	0.11x	0.05x	-	0.92x	0.09x	0.09x	2.85x	1.02x	0.67x	2.15x
Net Debt / EBITDA	-1.69x	-1.71x	-2.19x	0.80x	-0.02x	-0.88x	2.47x	0.95x	0.59x	2.01x
Interest Coverage	433.85x	177.35x	233.86x	14.86x	36.66x	201.59x	544.05x	20.05x	15.82x	10.04x
Total Equity+	102.98M	113.05M	123.71M	140.46M	161.99M	176.89M	194.45M	237.54M	286.09M	342.76M
Equity Growth %	0.08%	0.1%	0.09%	0.14%	0.15%	0.09%	0.1%	0.22%	0.2%	0.2%
Book Value per Share	14.27	15.54	16.86	18.90	21.55	23.38	25.53	31.00	37.15	44.03
Total Shareholders' Equity	103.57M	113.05M	123.71M	140.46M	161.99M	176.89M	194.45M	237.54M	286.09M	342.76M
Common Stock	72K	72K	73K	74K	74K	75K	75K	76K	76K	77K
Retained Earnings	80.38M	88.35M	97.56M	111.8M	131.55M	144.92M	160.81M	202.6M	247.52M	306.5M
Treasury Stock	-587K	-587K	-587K	-587K	-587K	-587K	-587K	-587K	-587K	-587K
Accumulated OCI	-44.01M	-48.29M	-53.06M	-54.11M	0	0	0	-610K	268K	-4.17M
Minority Interest	-587K	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	13.1M	9.39M	17.47M	21.32M	31.23M	25.04M	14.29M	17.74M	41.33M	66.59M
Operating CF Margin %	0.09%	0.06%	0.12%	0.11%	0.16%	0.14%	0.07%	0.05%	0.1%	0.13%
Operating CF Growth %	0.18%	-0.28%	0.86%	0.22%	0.46%	-0.2%	-0.43%	0.24%	1.33%	0.61%
Net Income	7.59M	7.97M	9.21M	14.31M	19.75M	13.37M	15.89M	41.79M	44.92M	58.98M
Depreciation & Amortization	4.85M	5.63M	5.63M	7.83M	8.17M	8.27M	8.41M	11.89M	11.41M	14.71M
Stock-Based Compensation	1.07M	1.06M	1.07M	1.21M	1.59M	1.81M	2.43M	3.21M	4.64M	6.84M
Deferred Taxes	437K	576K	-1.02M	1.88M	0	136K	-1.79M	-4.71M	816K	1.33M
Other Non-Cash Items	-329K	-143K	7K	-47K	393K	459K	-14K	-11.96M	3.67M	1.06M
Working Capital Changes	-518K	-5.7M	2.57M	-3.87M	1.32M	998K	-10.62M	-22.47M	-24.13M	-16.34M
Change in Receivables	-1.01M	-3.77M	-132K	-2.56M	-327K	2.22M	-6.86M	-15.91M	-12.11M	-2.19M
Change in Inventory	-1.31M	51K	1.29M	-2.29M	1.3M	-366K	-4.5M	-19.61M	-16.57M	-4.69M
Change in Payables	-800K	-596K	93K	1.11M	0	-681K	102K	9.13M	1.55M	-1.14M
Cash from Investing+	-16.27M	-7.28M	-10.38M	-82.33M	-5.77M	-4.26M	-101.46M	1.29M	-10.49M	-210.16M
Capital Expenditures	-16.32M	-7.29M	-10.38M	-5.43M	-5.78M	-4.37M	-5.39M	-13.78M	-10.49M	-9.66M
CapEx % of Revenue	0.12%	0.05%	0.07%	0.03%	0.03%	0.02%	0.03%	0.04%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	53K	14K	7K	77K	4K	107K	114K	35.72M	2K	-3.03M
Cash from Financing+	-1.08M	-559K	-475K	26.27M	-24.95M	-285K	74.05M	-25.89M	-30.02M	152.39M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	505K	455K	381K	1.13M	705K	-274K	-761K	-5.83M	-6.96M	-188K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.22M	2.1M	7.09M	15.89M	25.45M	20.67M	8.9M	3.96M	30.84M	56.94M
FCF Margin %	-0.02%	0.01%	0.05%	0.08%	0.13%	0.12%	0.04%	0.01%	0.08%	0.11%
FCF Growth %	-0.4%	1.65%	2.37%	1.24%	0.6%	-0.19%	-0.57%	-0.55%	6.78%	0.85%
FCF per Share	-0.45	0.29	0.97	2.14	3.39	2.73	1.17	0.52	4.01	7.31
FCF Conversion (FCF/Net Income)	1.73x	1.18x	1.90x	1.49x	1.58x	1.87x	0.90x	0.42x	0.92x	1.13x
Interest Paid	0	0	0	0	664K	0	53K	2.72M	3.54M	0
Taxes Paid	0	0	0	0	0	0	5.91M	13.2M	10.57M	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.67%	7.38%	7.78%	10.83%	13.06%	7.89%	8.56%	19.35%	17.16%	18.76%
Return on Invested Capital (ROIC)	12.65%	11.65%	10.42%	11.86%	11.45%	7.94%	7.53%	14.6%	13.77%	14.07%
Gross Margin	26.97%	23.71%	24%	25.36%	27.2%	24.91%	24.77%	25.51%	28.05%	29.08%
Net Margin	5.47%	5.45%	6.23%	7.51%	9.96%	7.45%	7.7%	11.81%	11.23%	11.69%
Debt / Equity	0.02x	0.01x	-	0.18x	0.02x	0.01x	0.43x	0.29x	0.16x	0.60x
Interest Coverage	433.85x	177.35x	233.86x	14.86x	36.66x	201.59x	544.05x	20.05x	15.82x	10.04x
FCF Conversion	1.73x	1.18x	1.90x	1.49x	1.58x	1.87x	0.90x	0.42x	0.92x	1.13x
Revenue Growth	-0.33%	5.24%	1.17%	28.82%	4.16%	-9.58%	15.02%	71.48%	13.08%	26.08%

Revenue by Segment

	2012	2013
Component Products	88.17M	93.19M
Component Products Growth	-	5.69%
Engineered Packaging	42.79M	46.03M
Engineered Packaging Growth	-	7.58%

Frequently Asked Questions

Valuation & Price

UFP Technologies, Inc. (UFPT) has a price-to-earnings (P/E) ratio of 34.0x. This suggests investors expect higher future growth.

Growth & Financials

UFP Technologies, Inc. (UFPT) reported $598.0M in revenue for fiscal year 2024. This represents a 370% increase from $127.2M in 2011.

UFP Technologies, Inc. (UFPT) grew revenue by 26.1% over the past year. This is strong growth.

Yes, UFP Technologies, Inc. (UFPT) is profitable, generating $67.1M in net income for fiscal year 2024 (11.7% net margin).

Dividend & Returns

UFP Technologies, Inc. (UFPT) has a return on equity (ROE) of 18.8%. This is reasonable for most industries.

UFP Technologies, Inc. (UFPT) generated $54.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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