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Ubiquiti Inc. (UI) 10-Year Financial Performance & Capital Metrics

UI • • Industrial / General
TechnologyCommunication EquipmentWireless Infrastructure & BackhaulWireless Broadband Access
AboutUbiquiti Inc. develops networking technology for service providers, enterprises, and consumers. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as consumer products under the Ubiquiti Labs brand name. The company also provides technology platforms, such as airMAX, which include proprietary protocols that contain technologies for minimizing signal noise; EdgeMAX, a software and system routing platform; airFiber, a point-to-point radio system; and UFiber GPON, a plug and play fiber network technology to build high speed fiber internet networks. In addition, it offers UniFi -Enterprise WLAN, an enterprise Wi-Fi system that allows for on-site and remote management through the cloud; UniFi Protect, a video surveillance system, which provides statistical reporting and advanced analytics; UniFi Switch that deliver performance, switching, and power of Ethernet support for enterprise networks; UniFi Console, an enterprise class router and security gateway device; and UniFi Access, a door access system. Further, offers base stations, radios, backhaul equipment, and customer premise equipment; embedded radio products; antennas; and mounting brackets, cables, and power over Ethernet adapters. It serves customers through a network of approximately 100 distributors, online retailers, and direct to customers worldwide. The company was formerly known as Ubiquiti Networks, Inc. and changed its name to Ubiquiti Inc. in August 2019. Ubiquiti Inc. was incorporated in 2003 and is headquartered in New York, New York.Show more
  • Revenue $2.57B +33.4%
  • EBITDA $858M +65.6%
  • Net Income $712M +103.4%
  • EPS (Diluted) 11.76 +103.1%
  • Gross Margin 43.42% +13.2%
  • EBITDA Margin 33.35% +24.1%
  • Operating Margin 32.5% +25.6%
  • Net Margin 27.66% +52.4%
  • ROE 186.53% -49.3%
  • ROIC 81.35% +77.6%
  • Debt/Equity 0.45 -94.4%
  • Interest Coverage 27.30 +311.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 277.3%
  • ✓FCF machine: 24.4% free cash flow margin
  • ✓Strong 5Y sales CAGR of 14.9%
  • ✓Healthy 5Y average net margin of 24.3%
  • ✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 50.1x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.75%
5Y14.91%
3Y15.01%
TTM36.77%

Profit (Net Income) CAGR

10Y18.57%
5Y13.36%
3Y23.42%
TTM102.93%

EPS CAGR

10Y23.28%
5Y15.18%
3Y24.26%
TTM102.48%

ROCE

10Y Avg68.64%
5Y Avg88.08%
3Y Avg74.45%
Latest102.91%

Peer Comparison

Wireless Broadband Access
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
UIUbiquiti Inc.33.49B553.5247.0733.45%28.72%95.58%1.87%0.45
FEIMFrequency Electronics, Inc.567.4M58.0323.5926.3%30.12%35.99%0.16
CMBMCambium Networks Corporation44.34M1.57-0.56-25.84%-56.98%-224.89%0.39
AMPGAmpliTech Group, Inc.84.92M3.70-3.43-38.99%-33.77%-21.28%0.12
AIRGAirgain, Inc.49.27M4.12-5.228.14%-10.87%-20%0.13
KNKnowles Corporation2.12B24.93-9.3421.17%6.85%5.23%5.49%0.28

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+666.39M865.27M1.02B1.16B1.28B1.9B1.69B1.94B1.93B2.57B
Revenue Growth %0.12%0.3%0.18%0.14%0.11%0.48%-0.11%0.15%-0.01%0.33%
Cost of Goods Sold+341.6M469.56M573.29M624.13M676.33M985.82M1.02B1.18B1.19B1.46B
COGS % of Revenue0.51%0.54%0.56%0.54%0.53%0.52%0.6%0.61%0.62%0.57%
Gross Profit+324.8M395.71M443.57M537.6M608.17M912.28M669.81M760.73M739.76M1.12B
Gross Margin %0.49%0.46%0.44%0.46%0.47%0.48%0.4%0.39%0.38%0.43%
Gross Profit Growth %0.24%0.22%0.12%0.21%0.13%0.5%-0.27%0.14%-0.03%0.51%
Operating Expenses+91.03M105.95M117.44M125.31M129.97M169.68M207.55M216.16M240.76M281.17M
OpEx % of Revenue0.14%0.12%0.12%0.11%0.1%0.09%0.12%0.11%0.12%0.11%
Selling, General & Admin33.27M36.85M43.12M43.24M40.57M53.51M69.86M70.99M81M111.5M
SG&A % of Revenue0.05%0.04%0.04%0.04%0.03%0.03%0.04%0.04%0.04%0.04%
Research & Development57.77M69.09M74.32M82.07M89.41M116.17M137.69M145.17M159.77M169.67M
R&D % of Revenue0.09%0.08%0.07%0.07%0.07%0.06%0.08%0.07%0.08%0.07%
Other Operating Expenses0000000000
Operating Income+242.06M289.76M326.13M394.3M478.2M742.59M462.26M544.57M499M836.28M
Operating Margin %0.36%0.33%0.32%0.34%0.37%0.39%0.27%0.28%0.26%0.32%
Operating Income Growth %0.65%0.2%0.13%0.21%0.21%0.55%-0.38%0.18%-0.08%0.68%
EBITDA+248.35M297.12M333.44M401.85M485.89M754.69M475.95M560.86M518.25M858.18M
EBITDA Margin %0.37%0.34%0.33%0.35%0.38%0.4%0.28%0.29%0.27%0.33%
EBITDA Growth %0.64%0.2%0.12%0.21%0.21%0.55%-0.37%0.18%-0.08%0.66%
D&A (Non-Cash Add-back)6.29M7.36M7.31M7.56M7.7M12.1M13.69M16.29M19.25M21.9M
EBIT242.06M289.76M326.13M394.3M478.2M742.59M462.26M544.57M499M836.28M
Net Interest Income+-2.12M-4.74M-11.98M-12.81M-28M-14.94M-17.82M-58.22M-75.17M-30.63M
Interest Income0000000000
Interest Expense2.12M4.74M11.98M12.81M28M14.94M17.82M58.22M75.17M30.63M
Other Income/Expense-2.12M-4.74M-11.98M-12.81M-28M-14.94M-17.82M-58.22M-75.17M-30.63M
Pretax Income+239.94M285.02M314.14M381.49M450.2M727.65M444.45M486.34M423.83M805.65M
Pretax Margin %0.36%0.33%0.31%0.33%0.35%0.38%0.26%0.25%0.22%0.31%
Income Tax+26.32M27.52M117.85M58.8M69.9M111.07M65.79M78.7M73.87M93.73M
Effective Tax Rate %0.89%0.9%0.62%0.85%0.84%0.85%0.85%0.84%0.83%0.88%
Net Income+213.62M257.51M196.29M322.69M380.3M616.58M378.66M407.64M349.96M711.92M
Net Margin %0.32%0.3%0.19%0.28%0.3%0.32%0.22%0.21%0.18%0.28%
Net Income Growth %0.65%0.21%-0.24%0.64%0.18%0.62%-0.39%0.08%-0.14%1.03%
Net Income (Continuing)213.62M257.51M196.29M322.69M380.3M616.58M378.66M407.64M349.96M711.92M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+2.493.092.514.515.809.786.136.745.7911.76
EPS Growth %0.72%0.24%-0.19%0.8%0.29%0.69%-0.37%0.1%-0.14%1.03%
EPS (Basic)2.533.162.544.525.819.796.146.755.7911.77
Diluted Shares Outstanding85.78M83.25M78.33M71.6M65.51M63.05M61.72M60.45M60.46M60.53M
Basic Shares Outstanding84.4M81.48M77.18M71.44M65.43M62.99M61.69M60.44M60.45M60.48M
Dividend Payout Ratio---0.22%0.21%0.16%0.39%0.36%0.41%0.2%

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+728.64M950.65M1B753.81M586.65M694.16M621.57M1.17B916.01M1.17B
Cash & Short-Term Investments551.03M604.2M666.68M308.01M143.54M250.74M136.65M114.94M126.34M149.73M
Cash Only551.03M604.2M666.68M238.15M142.62M249.42M136.22M114.83M126.34M149.73M
Short-Term Investments00069.87M925K1.32M427K109K00
Accounts Receivable82.79M140.56M174.52M156.04M142.16M172.29M119.63M167.79M173.71M253.39M
Days Sales Outstanding45.3559.2962.6449.0340.433.1325.8131.5632.8835.94
Inventory57.11M142.05M102.22M264.28M285.94M233.77M262.44M737.12M462.03M675.1M
Days Inventory Outstanding61.03110.4265.08154.56154.3286.5593.74228.05141.87169.23
Other Current Assets6.9M9.03M18.9M13.84M9.03M17.35M13.19M21.97M23.7M39.46M
Total Non-Current Assets+19.41M20.38M21.23M122.05M150.8M196.83M223.14M239.35M238.4M293.23M
Property, Plant & Equipment12.95M12.92M14.33M13.62M102.97M119.07M144.46M144.33M128.89M118.15M
Fixed Asset Turnover51.45x66.99x70.97x85.31x12.47x15.94x11.71x13.44x14.96x21.78x
Goodwill0000000000
Intangible Assets616K437K460K3.26M3.06M8.68M7.23M5.7M4.16M2.63M
Long-Term Investments00031.59M513K1.03M0000
Other Non-Current Assets960K1.89M3.33M70.68M40.16M63.26M64.83M65.63M69.41M64.48M
Total Assets+748.05M971.02M1.02B875.87M737.45M890.99M844.71M1.41B1.15B1.47B
Asset Turnover0.89x0.89x0.99x1.33x1.74x2.13x2.00x1.38x1.67x1.75x
Asset Growth %0.25%0.3%0.05%-0.14%-0.16%0.21%-0.05%0.66%-0.18%0.27%
Total Current Liabilities+90.92M96.8M112.92M179.19M264.3M276.41M310.95M351.82M284.79M710.86M
Accounts Payable51.51M49.01M14.1M38.72M155.55M112.07M83.66M154.16M51.09M164.79M
Days Payables Outstanding55.0438.18.9822.6583.9541.4929.8847.6915.6941.31
Short-Term Debt10.99M14.74M24.43M30.68M24.07M23.86M23.86M36.51M36.51M249.56M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities6.64M9.67M8.15M9.17M11.5M67.88M103.81M77.94M95.74M144.66M
Current Ratio8.01x9.82x8.87x4.21x2.22x2.51x2.00x3.32x3.22x1.65x
Quick Ratio7.39x8.35x7.96x2.73x1.14x1.67x1.15x1.22x1.59x0.70x
Cash Conversion Cycle51.33131.62118.75180.94110.7778.1989.67211.92159.06163.86
Total Non-Current Liabilities+216.75M272.46M593.91M597.4M768.61M611.87M916.64M1.17B774.56M87.34M
Long-Term Debt191.56M241.82M460.35M464.7M628.44M467.03M762.62M1.04B669.88M0
Capital Lease Obligations000018.53M32.26M54.02M46.05M37.18M35.46M
Deferred Tax Liabilities0000000226K492K334K
Other Non-Current Liabilities23.2M30.64M129.29M126.18M115.39M104.02M94.17M74.88M53.6M25.53M
Total Liabilities307.68M369.26M706.83M776.59M1.03B888.29M1.23B1.52B1.06B798.19M
Total Debt+203.5M256.56M484.78M495.38M678.09M532.3M853.26M1.14B757.29M297.42M
Net Debt-347.53M-347.63M-181.9M257.23M535.48M282.88M717.03M1.02B630.94M147.69M
Debt / Equity0.46x0.43x1.54x4.99x-197.22x--7.97x0.45x
Debt / EBITDA0.82x0.86x1.45x1.23x1.40x0.71x1.79x2.03x1.46x0.35x
Net Debt / EBITDA-1.40x-1.17x-0.55x0.64x1.10x0.37x1.51x1.82x1.22x0.17x
Interest Coverage114.45x61.17x27.21x30.79x17.08x49.71x25.95x9.35x6.64x27.30x
Total Equity+440.38M601.76M315.75M99.28M-295.46M2.7M-382.88M-115.73M95.06M668.26M
Equity Growth %0.04%0.37%-0.48%-0.69%-3.98%1.01%-142.86%0.7%1.82%6.03%
Book Value per Share5.137.234.031.39-4.510.04-6.20-1.911.5711.04
Total Shareholders' Equity440.38M601.76M315.75M99.28M-295.46M2.7M-382.88M-115.73M95.06M668.26M
Common Stock82K80K74K69K64K63K60K60K60K61K
Retained Earnings440.29M601.16M315.28M98.81M-295.98M2.63M-383.11M-120.51M84.36M651.12M
Treasury Stock0000000000
Accumulated OCI000393K9K1K-474K000
Minority Interest0000000000

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+197.51M112.04M332.05M259.26M460.28M612.02M370.26M-145.43M541.52M640.03M
Operating CF Margin %0.3%0.13%0.33%0.22%0.36%0.32%0.22%-0.07%0.28%0.25%
Operating CF Growth %0.47%-0.43%1.96%-0.22%0.78%0.33%-0.4%-1.39%4.72%0.18%
Net Income213.62M257.51M196.29M322.69M380.3M616.58M378.66M407.64M349.96M711.92M
Depreciation & Amortization6.29M7.36M7.31M7.56M7.7M12.1M13.69M16.29M19.25M21.9M
Stock-Based Compensation3.72M2.79M3.21M2.89M2.89M3.03M3.52M4.73M6.36M7.21M
Deferred Taxes-1.15M-938K2.03M196K-1.19M-674K-1.84M-16.86M-11.97M-72.19M
Other Non-Cash Items2.1M2.46M17.62M4.24M18.21M13.3M14.32M12.96M45.82M30.54M
Working Capital Changes-27.07M-157.14M105.59M-78.32M52.38M-32.31M-38.08M-570.19M132.09M-59.35M
Change in Receivables-16.68M-58.16M-33.97M18.73M13.88M-30.14M52.66M-48.2M-1.76M-86.93M
Change in Inventory-20.01M-86.99M35.97M-163.66M-28.05M52.89M-29.57M-487.92M250.66M-219.87M
Change in Payables7.72M-2.55M-34.6M24.33M116.9M-43.34M-28.69M69.73M-103.09M113.55M
Cash from Investing+-6.25M-7.23M-9.12M-157.57M69.58M-19.27M-11.18M-20.93M-11.97M-12.59M
Capital Expenditures-6.25M-7.23M-9.12M-51.68M-30.62M-18.32M-13.47M-20.93M-11.97M-12.59M
CapEx % of Revenue0.01%0.01%0.01%0.04%0.02%0.01%0.01%0.01%0.01%0%
Acquisitions----------
Investments----------
Other Investing0000-30.62M-18.32M-13.47M000
Cash from Financing+-86.63M-51.64M-260.45M-530.23M-625.4M-485.95M-472.27M144.96M-518.02M-604.06M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid000-71.36M-78.68M-100.81M-148.06M-145.04M-145.09M-145.15M
Share Repurchases----------
Other Financing887K1.44M-3.65M-1.47M-4.27M-4.25M98K-1.87M-434K0
Net Change in Cash----------
Free Cash Flow+191.26M104.8M322.93M249.57M429.67M593.7M356.79M-166.36M529.54M627.44M
FCF Margin %0.29%0.12%0.32%0.21%0.33%0.31%0.21%-0.09%0.27%0.24%
FCF Growth %0.57%-0.45%2.08%-0.23%0.72%0.38%-0.4%-1.47%4.18%0.18%
FCF per Share2.231.264.123.496.569.425.78-2.758.7610.37
FCF Conversion (FCF/Net Income)0.92x0.44x1.69x0.80x1.21x0.99x0.98x-0.36x1.55x0.90x
Interest Paid2.35M5.19M11.38M23.35M21.82M11.81M11.56M53.87M75.09M31.05M
Taxes Paid18.53M25.74M9.61M41.73M74.92M139.62M78.18M109.69M108.57M177.24M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)49.53%49.42%42.79%155.51%-22844.91%--368.15%186.53%
Return on Invested Capital (ROIC)218.6%125.27%126.09%120.62%120.25%211.93%111.89%65.78%45.82%81.35%
Gross Margin48.74%45.73%43.62%46.28%47.35%48.06%39.59%39.2%38.36%43.42%
Net Margin32.06%29.76%19.3%27.78%29.61%32.48%22.38%21.01%18.15%27.66%
Debt / Equity0.46x0.43x1.54x4.99x-197.22x--7.97x0.45x
Interest Coverage114.45x61.17x27.21x30.79x17.08x49.71x25.95x9.35x6.64x27.30x
FCF Conversion0.92x0.44x1.69x0.80x1.21x0.99x0.98x-0.36x1.55x0.90x
Revenue Growth11.82%29.84%17.52%14.25%10.57%47.77%-10.87%14.71%-0.62%33.45%

Revenue by Segment

2016201720182019202020212022202320242025
Enterprise Technology248.05M409.67M570.26M733.24M842.48M1.27B1.32B1.62B1.62B2.25B
Enterprise Technology Growth-65.16%39.20%28.58%14.90%51.33%3.28%23.14%-0.23%39.35%
Service Provider Technology418.35M455.6M446.6M428.49M442.02M623.16M375.01M319.09M310.82M319.29M
Service Provider Technology Growth-8.90%-1.97%-4.06%3.16%40.98%-39.82%-14.91%-2.59%2.72%

Revenue by Geography

2016201720182019202020212022202320242025
North America239.53M331.44M410.38M497.22M571.9M836.03M790.81M922.23M946.43M1.3B
North America Growth-38.37%23.82%21.16%15.02%46.18%-5.41%16.62%2.62%36.88%
UNITED STATES---------1.19B
UNITED STATES Growth----------
EMEA264.4M334.47M411.39M477.33M112.12M785.29M675.31M759.4M740.11M999.38M
EMEA Growth-26.50%23.00%16.03%-76.51%600.39%-14.01%12.45%-2.54%35.03%
Asia Pacific77.43M93.85M102.84M108.46M83.35M154.54M134.96M148.5M127.9M168.84M
Asia Pacific Growth-21.21%9.58%5.46%-23.16%85.42%-12.67%10.03%-13.87%32.01%
South America85.04M105.51M92.25M78.72M517.13M122.24M90.62M110.38M114.05M109.8M
South America Growth-24.08%-12.57%-14.66%556.90%-76.36%-25.87%21.81%3.33%-3.72%

Frequently Asked Questions

Valuation & Price

Ubiquiti Inc. (UI) has a price-to-earnings (P/E) ratio of 47.1x. This suggests investors expect higher future growth.

Growth & Financials

Ubiquiti Inc. (UI) reported $2.76B in revenue for fiscal year 2025. This represents a 680% increase from $353.5M in 2012.

Ubiquiti Inc. (UI) grew revenue by 33.4% over the past year. This is strong growth.

Yes, Ubiquiti Inc. (UI) is profitable, generating $791.8M in net income for fiscal year 2025 (27.7% net margin).

Dividend & Returns

Yes, Ubiquiti Inc. (UI) pays a dividend with a yield of 0.43%. This makes it attractive for income-focused investors.

Ubiquiti Inc. (UI) has a return on equity (ROE) of 186.5%. This is excellent, indicating efficient use of shareholder capital.

Ubiquiti Inc. (UI) generated $589.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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