Ultralife Corporation(ULBI)Earnings, Financials & Key Ratios

ULBI•NASDAQ

$6.87

$145M mkt cap·18.1× P/E·Price updated May 6, 2026

SectorIndustrials IndustryElectrical Equipment Sub-IndustryBattery Packs and Energy Storage Systems

AboutUltralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables. The Communications Systems segment provides communications systems and accessories to support military communications systems, such as radio frequency amplifiers, power supplies and cables, connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, and integrated communication systems for fixed or vehicle applications comprising vehicle adapters, vehicle installed power enhanced rifleman appliqué systems, and SATCOM systems. This segment's military communications systems and accessories are designed to enhance and extend the operation of communications equipment, such as vehicle-mounted, manpack, and handheld transceivers. It sells its products under the Ultralife, Ultralife Thin Cell, Utralife HiRate, Ultralife and design, Ultra, Lithium Power, LithiumPower and Design, McDowell Research, AMTI, ABLE, ACCUTRONICS, ACCUPRO, ENTELLION, SWE Southwest Electronic Energy Group, SWE DRILL-DATA, and SWE SEASAFE brands through original equipment manufacturers, and industrial and defense supply distributors, as well as directly to the United States and international defense departments. In addition, the company sells its 9-volt battery to the broader consumer market through national and regional retail chains and online retailers. Ultralife Corporation serves government, defense, and commercial sectors. The company was incorporated in 1990 and is headquartered in Newark, New York.Show more

Revenue$164M+3.7%
EBITDA$14M+5.5%
Net Income$6M-12.3%
EPS (Diluted)0.38-13.6%
Gross Margin25.73%+4.1%
EBITDA Margin8.59%+1.8%
Operating Margin6.06%+1.5%
Net Margin3.84%-15.4%
ROE4.86%-18.3%
ROIC4.53%-11.2%
Debt/Equity0.44+87.1%
Interest Coverage5.14+9.3%

Technical→

ULBI Key Insights

Ultralife Corporation (ULBI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 3.6%

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

ULBI Price & Volume

Ultralife Corporation (ULBI) stock price & volume — 10-year historical chart

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ULBI Growth Metrics

Ultralife Corporation (ULBI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.48%

5 Years9.02%

3 Years18.73%

TTM12.94%

Profit CAGR

10 Years-

5 Years3.93%

3 Years-

TTM-80.89%

EPS CAGR

10 Years-

5 Years3.5%

3 Years-

TTM-81.46%

Return on Capital

10 Years4.83%

5 Years3.39%

3 Years4.1%

Last Year5.76%

ULBI Recent Earnings

Ultralife Corporation (ULBI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 4/12 qtrs (33%)●Beat Revenue 5/12 qtrs (42%)

Q2 2026Latest

Mar 10, 2026

EPS

$0.12

Est $0.24

-50.0%

Revenue

$48M

Est $57M

-14.9%

Q4 2025

Nov 18, 2025

EPS

$0.07

Est $0.21

-133.3%

Revenue

$43M

Est $53M

-18.2%

Q3 2025

Aug 7, 2025

EPS

$0.07

Est $0.22

-68.2%

Revenue

$49M

Est $53M

-8.4%

Q2 2025

May 9, 2025

EPS

$0.13

Est $0.15

-13.3%

Revenue

$51M

Est $55M

-6.9%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 10, 2026	$0.12vs $0.24-50.0%	$48Mvs $57M-14.9%
Q4 2025	Nov 18, 2025	$0.07vs $0.21-133.3%	$43Mvs $53M-18.2%
Q3 2025	Aug 7, 2025	$0.07vs $0.22-68.2%	$49Mvs $53M-8.4%
Q2 2025	May 9, 2025	$0.13vs $0.15-13.3%	$51Mvs $55M-6.9%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
FLUXFlux Power Holdings, Inc.Direct Competitor	28.38M	1.33	-3.33	9.22%	-8.36%	-67.4%
CBATCBAK Energy Technology, Inc.Direct Competitor	70.85M	0.79	6.08	-13.61%	-4.03%	-5.5%	0.25
MVSTMicrovast Holdings, Inc.Direct Competitor	633.36M	1.96	-21.78	12.56%	-6.83%	-7.4%	0.45
CLFDClearfield, Inc.Direct Competitor	419.28M	30.28	-52.21	19.56%	-6.32%	-3.4%	0.03
LIQTLiqTech International, Inc.Direct Competitor	20.79M	2.16	-2.43	13.03%	-53.25%	-69.97%	1.17
BWENBroadwind, Inc.Direct Competitor	45.94M	1.98	8.61	10.42%	3.32%	8.34%	0.43
ENREnergizer Holdings, Inc.Product Competitor	1.3B	18.97	5.71	2.28%	6.55%	116.9%	20.79
DRSLeonardo DRS, Inc.Product Competitor	11.11B	41.79	40.57	12.8%	7.85%	10.79%	0.17

Compare ULBI vs Peers

Ultralife Corporation (ULBI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FLUX

Most directly comparable listed peer for ULBI.

Scale Benchmark

vs AME

Larger-name benchmark to compare ULBI against a more recognizable public peer.

Peer Set

Compare Top 5

vs FLUX, CBAT, MVST, CLFD

ULBI Income Statement

Ultralife Corporation (ULBI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	82.46M	85.53M	87.19M	106.8M	107.71M	98.27M	131.84M	158.64M	164.46M	186.53M
Revenue Growth %	7.89%	3.72%	1.94%	22.49%	0.86%	-8.77%	34.17%	20.33%	3.66%	12.94%
Cost of Goods Sold	57.35M	59.3M	61.61M	75.63M	78.55M	73.63M	102.44M	119.44M	122.14M	141.97M
COGS % of Revenue	69.55%	69.33%	70.66%	70.82%	72.93%	74.92%	77.7%	75.29%	74.27%	-
Gross Profit	25.11M▲ 0%	26.23M▲ 4.5%	25.58M▼ 2.5%	31.16M▲ 21.8%	29.16M▼ 6.4%	24.64M▼ 15.5%	29.4M▲ 19.3%	39.2M▲ 33.3%	42.31M▲ 7.9%	44.56M▲ 0%
Gross Margin %	30.45%	30.67%	29.34%	29.18%	27.07%	25.08%	22.3%	24.71%	25.73%	23.89%
Gross Profit Growth %	7.69%	4.48%	-2.47%	21.82%	-6.44%	-15.49%	19.31%	33.33%	7.94%	-
Operating Expenses	21.34M	19.76M	19.03M	23.8M	23.46M	24.61M	29.27M	29.73M	32.35M	38.39M
OpEx % of Revenue	25.89%	23.1%	21.82%	22.28%	21.78%	25.04%	22.2%	18.74%	19.67%	-
Selling, General & Admin	15.4M	15.02M	14.52M	16.99M	17.51M	17.78M	22.19M	22.19M	24.08M	28.39M
SG&A % of Revenue	18.67%	17.56%	16.65%	15.91%	16.26%	18.09%	16.83%	13.99%	14.64%	-
Research & Development	5.95M	4.74M	4.51M	6.8M	5.95M	6.83M	7.08M	7.53M	8.27M	9.99M
R&D % of Revenue	7.21%	5.54%	5.17%	6.37%	5.52%	6.95%	5.37%	4.75%	5.03%	-
Other Operating Expenses	-183K	-181K	58K	0	0	0	0	0	0	0
Operating Income	3.76M▲ 0%	6.48M▲ 72.1%	6.55M▲ 1.2%	7.37M▲ 12.4%	5.7M▼ 22.6%	35K▼ 99.4%	129K▲ 268.6%	9.47M▲ 7245.0%	9.96M▲ 5.2%	6.18M▲ 0%
Operating Margin %	4.56%	7.57%	7.52%	6.9%	5.29%	0.04%	0.1%	5.97%	6.06%	3.31%
Operating Income Growth %	13%	72.1%	1.22%	12.4%	-22.62%	-99.39%	268.57%	7244.96%	5.17%	-
EBITDA	6.49M	8.9M	8.92M	10.11M	8.64M	3.57M	4.59M	13.39M	14.12M	11.55M
EBITDA Margin %	7.87%	10.41%	10.24%	9.47%	8.02%	3.64%	3.48%	8.44%	8.59%	6.19%
EBITDA Growth %	82.02%	37.2%	0.24%	13.32%	-14.61%	-58.62%	28.37%	191.76%	5.5%	-28.2%
D&A (Non-Cash Add-back)	2.73M	2.43M	2.37M	2.75M	2.94M	3.54M	4.46M	3.91M	4.16M	5.37M
EBIT	4.06M	6.48M	6.55M	7.31M	7.46M	91K	505K	11.13M	10.24M	6.15M
Net Interest Income	-263K	-183K	-63K	-539K	-436K	-242K	-951K	-2.02M	-1.94M	-3.85M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	263K	183K	63K	539K	436K	242K	951K	2.02M	1.94M	3.85M
Other Income/Expense	-183K	-181K	58K	-597K	1.32M	-186K	-575K	-358K	-1.66M	-3.88M
Pretax Income	3.58M▲ 0%	6.29M▲ 75.8%	6.61M▲ 5.1%	6.77M▲ 2.4%	7.02M▲ 3.7%	-151K▼ 102.2%	-446K▼ 195.4%	9.12M▲ 2144.2%	8.3M▼ 9.0%	2.3M▲ 0%
Pretax Margin %	4.34%	7.36%	7.58%	6.34%	6.52%	-0.15%	-0.34%	5.75%	5.05%	1.23%
Income Tax	98K	-1.37M	-18.39M	1.46M	1.69M	79K	-326K	1.95M	1.89M	568K
Effective Tax Rate %	2.74%	-21.75%	-278.03%	21.52%	24.09%	-52.32%	73.09%	21.4%	22.79%	24.66%
Net Income	3.51M▲ 0%	7.65M▲ 118.0%	24.93M▲ 226.0%	5.21M▼ 79.1%	5.23M▲ 0.5%	-234K▼ 104.5%	-119K▲ 49.1%	7.2M▲ 6147.9%	6.31M▼ 12.3%	1.72M▲ 0%
Net Margin %	4.26%	8.94%	28.59%	4.87%	4.86%	-0.24%	-0.09%	4.54%	3.84%	0.92%
Net Income Growth %	22.31%	117.95%	225.97%	-79.12%	0.52%	-104.47%	49.15%	6147.9%	-12.3%	-80.89%
Net Income (Continuing)	3.48M	7.66M	25M	5.31M	5.33M	-230K	-120K	7.17M	6.41M	1.74M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	-170K	-154K	-85K	24K	123K	127K	126K	95K	192K	170K
EPS (Diluted)	0.23▲ 0%	0.48▲ 108.7%	1.53▲ 218.8%	0.32▼ 79.1%	0.33▲ 3.1%	-0.01▼ 104.4%	-0.01▲ 49.3%	0.44▲ 6045.9%	0.38▼ 13.6%	0.10▲ 0%
EPS Growth %	35.29%	108.7%	218.75%	-79.09%	3.13%	-104.42%	49.32%	-	-13.64%	-81.46%
EPS (Basic)	0.23	0.49	1.57	0.33	0.33	-0.01	-0.01	0.44	0.38	-
Diluted Shares Outstanding	15.4M	15.86M	16.35M	16.18M	16.1M	16.04M	16.13M	16.23M	16.77M	16.65M
Basic Shares Outstanding	15.26M	15.53M	15.88M	15.78M	15.9M	16.04M	16.13M	16.36M	16.55M	16.65M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

ULBI Balance Sheet

Ultralife Corporation (ULBI) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	49.51M	61.92M	67.22M	70.37M	64.5M	66.52M	78.99M	90.2M	97.16M	100.62M
Cash & Short-Term Investments	10.71M	18.33M	25.93M	7.41M	10.65M	8.41M	5.71M	10.28M	6.85M	9.26M
Cash Only	10.71M	18.33M	25.93M	7.41M	10.65M	8.41M	5.71M	10.28M	6.85M	9.26M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	13.18M	14.66M	16.02M	30.11M	21.05M	20.23M	27.78M	31.76M	29.37M	30.93M
Days Sales Outstanding	58.34	62.55	67.04	102.9	71.34	75.15	76.91	73.07	65.18	62.95
Inventory	23.46M	26.33M	22.84M	29.76M	28.19M	33.19M	41.19M	42.22M	51.36M	52.75M
Days Inventory Outstanding	149.28	162.04	135.34	143.62	131	164.54	146.77	129	153.49	130.18
Other Current Assets	77K	89K	0	0	1.59M	4.69M	4.3M	0	0	7.68M
Total Non-Current Assets	35.23M	35.27M	52.88M	74.18M	73.2M	93.01M	89.44M	88.07M	123.29M	121.63M
Property, Plant & Equipment	8M	7.57M	10.74M	22.52M	22.85M	25.79M	23.9M	24.71M	44.64M	44.05M
Fixed Asset Turnover	10.31x	11.30x	8.12x	4.74x	4.71x	3.81x	5.52x	6.42x	3.68x	4.21x
Goodwill	19.96M	20.46M	20.11M	26.75M	27.02M	38.07M	37.43M	37.57M	45.01M	45.34M
Intangible Assets	7.19M	7.08M	6.5M	9.72M	9.21M	17.39M	15.92M	15.11M	24.56M	23.41M
Long-Term Investments	-166K	-157K	-82K	0	0	0	0	0	0	0
Other Non-Current Assets	72K	125K	82K	1.96M	2.29M	298K	121K	122K	9.09M	18.83M
Total Assets	84.74M▲ 0%	97.19M▲ 14.7%	120.1M▲ 23.6%	144.56M▲ 20.4%	137.7M▼ 4.7%	159.54M▲ 15.9%	168.43M▲ 5.6%	178.28M▲ 5.8%	220.45M▲ 23.7%	222.25M▲ 0%
Asset Turnover	0.97x	0.88x	0.73x	0.74x	0.78x	0.62x	0.78x	0.89x	0.75x	0.84x
Asset Growth %	3.89%	14.68%	23.58%	20.36%	-4.74%	15.86%	5.57%	5.85%	23.66%	106.59%
Total Current Liabilities	11.33M	14.24M	14.95M	17.19M	18.71M	18.92M	28.91M	23.73M	29.29M	33.7M
Accounts Payable	7.29M	8.79M	9.92M	9.39M	10.84M	9.82M	16.07M	11.34M	14.16M	14.16M
Days Payables Outstanding	46.41	54.09	58.77	45.31	50.36	48.7	57.27	34.64	42.31	38.55
Short-Term Debt	0	0	0	1.37M	1.36M	2.87M	2.9M	2M	2.75M	4.84M
Deferred Revenue (Current)	0	0	-439K	0	0	0	119K	0	0	298K
Other Current Liabilities	172K	168K	-121K	0	0	4.39M	6.93M	287K	298K	11.46M
Current Ratio	4.37x	4.35x	4.50x	4.09x	3.45x	3.52x	2.73x	3.80x	3.32x	3.32x
Quick Ratio	2.30x	2.50x	2.97x	2.36x	1.94x	1.76x	1.31x	2.02x	1.56x	1.56x
Cash Conversion Cycle	161.21	170.5	143.61	201.21	151.98	190.99	166.4	167.43	176.36	154.59
Total Non-Current Liabilities	5.56M	3.9M	623K	17.62M	2.07M	22.87M	23.11M	29.12M	56.97M	51.12M
Long-Term Debt	0	0	0	15.78M	0	18.86M	19.31M	23.62M	51.5M	46.52M
Capital Lease Obligations	0	0	376K	1.25M	1.52M	1.74M	1.31M	2.64M	3M	10.85M
Deferred Tax Liabilities	5.56M	3.9M	623K	559K	515K	2.25M	1.92M	1.71M	0	2.77M
Other Non-Current Liabilities	18K	0	-344K	-528K	1.56M	17K	17K	1.14M	2.47M	5.87M
Total Liabilities	16.88M	18.14M	15.57M	34.81M	20.78M	41.8M	52.03M	52.85M	86.26M	84.81M
Total Debt	0	0	815K	19.02M	3.56M	23.47M	23.51M	29.16M	58.39M	53.8M
Net Debt	-10.71M	-18.33M	-25.12M	11.61M	-7.09M	15.05M	17.8M	18.88M	51.53M	44.54M
Debt / Equity	-	-	0.01x	0.17x	0.03x	0.20x	0.20x	0.23x	0.44x	0.44x
Debt / EBITDA	-	-	0.09x	1.88x	0.41x	6.57x	5.12x	2.18x	4.13x	4.66x
Net Debt / EBITDA	-1.65x	-2.06x	-2.81x	1.15x	-0.82x	4.21x	3.88x	1.41x	3.65x	3.65x
Interest Coverage	14.31x	35.39x	104.05x	13.67x	13.08x	0.14x	0.14x	4.70x	5.14x	1.60x
Total Equity	67.86M▲ 0%	79.05M▲ 16.5%	104.53M▲ 32.2%	109.75M▲ 5.0%	116.92M▲ 6.5%	117.74M▲ 0.7%	116.4M▼ 1.1%	125.43M▲ 7.8%	134.19M▲ 7.0%	137.43M▲ 0%
Equity Growth %	2.72%	16.49%	32.24%	4.99%	6.54%	0.7%	-1.14%	7.75%	6.98%	18.98%
Book Value per Share	4.41	4.98	6.39	6.78	7.26	7.34	7.22	7.73	8.00	8.26
Total Shareholders' Equity	68.03M	79.2M	104.62M	109.73M	116.8M	117.62M	116.28M	125.33M	134M	137.26M
Common Stock	1.93M	1.97M	2M	2.03M	2.04M	2.05M	2.06M	2.08M	2.11M	2.11M
Retained Earnings	-90.54M	-82.89M	-57.96M	-52.83M	-47.6M	-47.83M	-47.95M	-40.75M	-34.44M	-32.92M
Treasury Stock	-18.44M	-18.47M	-19.27M	-21.23M	-21.32M	-21.47M	-21.48M	-21.49M	-21.49M	-21.49M
Accumulated OCI	-3.08M	-1.61M	-2.79M	-2.53M	-1.78M	-1.65M	-3.75M	-3.66M	-4.01M	-3.06M
Minority Interest	-170K	-154K	-85K	24K	123K	127K	126K	95K	192K	170K

ULBI Cash Flow Statement

Ultralife Corporation (ULBI) cash flow — operating, investing & free cash flow history

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	7.65M	7.27M	10.89M	-2.97M	21.72M	4.33M	-1.26M	1.93M	16.64M	16.64M
Operating CF Margin %	9.28%	8.5%	12.49%	-2.78%	20.16%	4.4%	-0.96%	1.22%	10.12%	-
Operating CF Growth %	-10.5%	-5%	49.74%	-127.28%	831.31%	-80.09%	-129.2%	252.73%	762.42%	4153.44%
Net Income	3.48M	7.66M	25M	5.31M	5.33M	-230K	-120K	7.2M	6.41M	1.72M
Depreciation & Amortization	2.73M	2.43M	2.37M	2.75M	2.94M	3.54M	4.46M	3.91M	4.16M	5.37M
Stock-Based Compensation	710K	653K	890K	753K	943K	671K	776K	528K	698K	435K
Deferred Taxes	135K	-1.67M	-18.64M	1.21M	1.39M	-147K	-962K	1.3M	1.23M	61K
Other Non-Cash Items	76K	47K	36K	44K	-1.54M	104K	36K	33K	253K	872K
Working Capital Changes	524K	-1.85M	1.24M	-13.04M	12.67M	388K	-5.45M	-11.04M	3.89M	4.07M
Change in Receivables	-667K	-1.29M	-1.51M	-10.42M	9.21M	4.42M	-7.88M	-3.89M	7.6M	2.04M
Change in Inventory	1.98M	-2.54M	3.19M	-2.2M	1.8M	-1.3M	-8.75M	-943K	-109K	317K
Change in Payables	-1.36M	2.66M	-822K	1.13M	1.65M	-2.71M	10.09M	-2.97M	215K	451K
Cash from Investing	-11.01M	-1.39M	-4.18M	-31.53M	-2.98M	-26.33M	-1.68M	-2.55M	-49.95M	-51.61M
Capital Expenditures	-1.22M	-1.39M	-4.18M	-6.28M	-3.1M	-2.81M	-1.68M	-2.55M	-1.93M	-3.6M
CapEx % of Revenue	1.48%	1.63%	4.8%	5.88%	2.88%	2.86%	1.27%	1.61%	1.17%	-
Acquisitions	-9.86M	0	0	-25.25M	120K	-23.52M	0	0	-48.02M	-48.02M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	65K	0	-4.18M	0	0	0	0	0	0	0
Cash from Financing	-175K	1.4M	1.17M	16.12M	-15.69M	19.64M	518K	5.49M	29.86M	41.72M
Debt Issued (Net)	0	0	0	17.32M	-15.84M	19.51M	517K	4.25M	29.25M	13.65M
Equity Issued (Net)	-635K	0	-797K	-1000K	238K	398K	116K	-8K	1000K	137K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-607K	-26K	-742K	-1.96M	0	-148K	-15K	-8K	0	0
Other Financing	460K	1.4M	1.97M	765K	-90K	-262K	-115K	1.25M	-1.39M	27.93M
Net Change in Cash	-3.76M▲ 0%	7.61M▲ 302.2%	7.6M▼ 0.1%	-18.53M▼ 343.7%	3.25M▲ 117.5%	-2.24M▼ 169.0%	-2.7M▼ 20.5%	4.57M▲ 269.1%	-3.42M▼ 175.0%	2.49M▲ 0%
Free Cash Flow	6.43M▲ 0%	5.88M▼ 8.6%	6.7M▲ 14.0%	-9.25M▼ 238.1%	18.62M▲ 301.3%	1.51M▼ 91.9%	-2.94M▼ 294.7%	-623K▲ 78.8%	14.7M▲ 2460.2%	8.93M▲ 0%
FCF Margin %	7.8%	6.87%	7.69%	-8.66%	17.29%	1.54%	-2.23%	-0.39%	8.94%	4.79%
FCF Growth %	14.06%	-8.64%	14%	-238.05%	301.26%	-91.88%	-294.71%	78.82%	2460.19%	-34.8%
FCF per Share	0.42	0.37	0.41	-0.57	1.16	0.09	-0.18	-0.04	0.88	0.88
FCF Conversion (FCF/Net Income)	2.18x	0.95x	0.44x	-0.57x	4.15x	-18.48x	10.61x	0.27x	2.64x	5.20x
Interest Paid	179K	102K	132K	576K	375K	142K	930K	1.96M	1.85M	0
Taxes Paid	273K	345K	220K	266K	264K	324K	354K	769K	722K	0

ULBI Key Ratios

Ultralife Corporation (ULBI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	5.24%	10.41%	27.16%	4.86%	4.62%	-0.2%	-0.1%	5.95%	4.86%	1.26%
Return on Invested Capital (ROIC)	5.19%	8.24%	7.02%	5.5%	3.7%	0.02%	0.07%	5.1%	4.53%	4.53%
Gross Margin	30.45%	30.67%	29.34%	29.18%	27.07%	25.08%	22.3%	24.71%	25.73%	23.89%
Net Margin	4.26%	8.94%	28.59%	4.87%	4.86%	-0.24%	-0.09%	4.54%	3.84%	0.92%
Debt / Equity	-	-	0.01x	0.17x	0.03x	0.20x	0.20x	0.23x	0.44x	0.44x
Interest Coverage	14.31x	35.39x	104.05x	13.67x	13.08x	0.14x	0.14x	4.70x	5.14x	1.60x
FCF Conversion	2.18x	0.95x	0.44x	-0.57x	4.15x	-18.48x	10.61x	0.27x	2.64x	5.20x
Revenue Growth	7.89%	3.72%	1.94%	22.49%	0.86%	-8.77%	34.17%	20.33%	3.66%	12.94%

ULBI SEC Filings & Documents

Ultralife Corporation (ULBI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 10, 2026·SEC

Material company update

Nov 18, 2025·SEC

Material company update

Aug 27, 2025·SEC

10-K Annual Reports

FY 2026

Mar 23, 2026·SEC

FY 2025

Apr 1, 2025·SEC

FY 2024

Mar 21, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 17, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 12, 2025·SEC

ULBI Frequently Asked Questions

Ultralife Corporation (ULBI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Ultralife Corporation (ULBI) reported $186.5M in revenue for fiscal year 2024. This represents a 1178% increase from $14.6M in 1995.

Ultralife Corporation (ULBI) grew revenue by 3.7% over the past year. Growth has been modest.

Yes, Ultralife Corporation (ULBI) is profitable, generating $1.7M in net income for fiscal year 2024 (3.8% net margin).

Dividend & Returns

Ultralife Corporation (ULBI) has a return on equity (ROE) of 4.9%. This is below average, suggesting room for improvement.

Ultralife Corporation (ULBI) generated $8.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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