Uniti Group Inc. (UNIT) 10-Year Financial Performance & Capital Metrics

UNIT • • REIT / Real Estate

Real EstateSpecialty REITsCommunications InfrastructureFiber Network Operators

AboutUniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.Show more

Revenue $1.17B +1.5%
FFO $408M +78.4%
FFO/Share 2.85 +77.7%
FFO Payout 26.57% -43.4%
FFO per Share 2.85 +77.7%
NOI Margin 100% +15.9%
FFO Margin 34.98% +75.8%
ROE -
ROA 1.81% +209.5%
Debt/Assets 111.34% -0.6%
Net Debt/EBITDA 6.21 +34.0%
Book Value/Share -17.14 +1.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 54.6%
✓Strong Piotroski F-Score: 7/9
✓FFO growing 22.5% TTM
✓Sustainable FFO payout ratio of 26.6%
✓High NOI margin of 100.0%

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y41.6%

5Y1.99%

3Y1.97%

TTM1.95%

Profit (Net Income) CAGR

10Y22.49%

5Y54.58%

3Y-8.93%

TTM223.69%

EPS CAGR

10Y-

5Y57.37%

3Y-8.67%

TTM192.13%

ROCE

10Y Avg26.09%

5Y Avg22.62%

3Y Avg21.22%

Latest17.65%

Peer Comparison

Fiber Network Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UNITUniti Group Inc.	1.79B	7.50	11.72	1.49%	2.99%		0.66%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	714.47M	770.41M	916.03M	1.02B	1.06B	1.07B	1.1B	1.13B	1.15B	1.17B
Revenue Growth %	18.84%	0.08%	0.19%	0.11%	0.04%	0.01%	0.03%	0.03%	0.02%	0.01%
Property Operating Expenses	28.43M	48.84M	107.98M	154.18M	203.73M	223.21M	154.41M	0	157.41M	0
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	16.81M	35.4M	72.05M	85.2M	102.9M	104.97M	101.18M	536.91M	102.73M	560.21M
G&A Expenses	16.81M	35.4M	72.05M	85.2M	102.9M	104.97M	101.18M	100.99M	102.73M	105.02M
EBITDA+	1.03B	1.06B	1.17B	1.23B	1.16B	1.07B	1.14B	884.72M	1.2B	921.53M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	358.12M	375.97M	434.2M	451.75M	405.75M	329.4M	290.94M	292.79M	310.53M	314.81M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	669.23M	686.17M	736.01M	778.26M	750.98M	738.85M	844.93M	591.94M	889.68M	606.72M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	275.39M	305.99M	319.59M	390.11M	497.13M	446.3M	376.83M	484.71M	488.63M
Interest Coverage	-	2.49x	2.41x	2.44x	1.93x	1.49x	1.89x	1.57x	1.84x	1.24x
Non-Operating Income	358.12M	375.97M	434.2M	451.75M	405.75M	329.4M	290.94M	242.96M	310.53M	42.22M
Pretax Income+	38.41M	305K	-47.68M	11.12M	15.57M	-734.01M	119.83M	-25.49M	-150.22M	75.88M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.11M	517K	-38.85M	-5.42M	4.66M	-15.2M	-4.92M	-17.36M	-68.47M	-17.55M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	37.3M	-212K	-9.44M	16.19M	10.58M	-706.3M	123.66M	-8.28M	-81.71M	93.41M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.04%	-1.01%	-43.52%	2.71%	-0.35%	-67.75%	1.18%	-1.07%	-8.87%	2.14%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	22.43%	-0.05%	0.13%	0.1%	-0.11%	-1.91%	2.1%	-0.31%	-0.2%	0.78%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.39	-0.07	-0.21	0.07	0.07	-5.76	0.84	-0.07	-0.58	0.64
EPS Growth %	-	-1.17%	-2.17%	1.33%	-0.05%	-87.88%	1.15%	-1.08%	-7.73%	2.1%
EPS (Basic)	0.39	-0.06	-0.16	0.08	0.07	-5.76	0.87	-0.07	-0.58	0.64
Diluted Shares Outstanding	90.34M	91.93M	101.88M	106.76M	112.96M	122.75M	159.21M	142.02M	142.53M	143.07M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	2.54B	3.32B	4.33B	4.59B	5.02B	4.73B	4.81B	4.85B	5.03B	5.28B
Asset Growth %	151.57%	0.31%	0.3%	0.06%	0.09%	-0.06%	0.02%	0.01%	0.04%	0.05%
Real Estate & Other Assets+	2.37B	9.67M	15.86M	23.81M	161.56M	152.88M	38.9M	77.6M	118.12M	40.63M
PP&E (Net)	2.37B	2.67B	3.05B	3.21B	3.41B	3.27B	3.59B	3.84B	4.11B	4.34B
Investment Securities	-1000K	-1000K	-1000K	-1000K	0	1000K	1000K	1000K	0	0
Total Current Assets+	156.38M	216.12M	150.46M	203.87M	222.84M	246.94M	138.68M	155.03M	228.22M	344.13M
Cash & Equivalents	142.5M	171.75M	59.77M	38.03M	142.81M	77.53M	58.9M	43.8M	62.26M	155.59M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	0	93.34M	0	0	28.61M	28.25M
Intangible Assets	10.53M	160.58M	429.36M	432.82M	531.98M	390.73M	364.63M	334.85M	305.12M	275.41M
Total Liabilities	3.71B	4.64B	5.45B	6B	6.5B	6.8B	6.92B	7.12B	7.51B	7.73B
Total Debt+	3.51B	4.08B	4.54B	4.9B	5.07B	4.83B	5.16B	5.27B	5.63B	5.88B
Net Debt	3.36B	3.91B	4.48B	4.86B	4.93B	4.75B	5.1B	5.23B	5.56B	5.73B
Long-Term Debt	3.51B	4.03B	3.56B	3.58B	5.02B	4.82B	5.09B	5.19B	5.52B	5.78B
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	54.53M	56.33M	55.28M	52.99M	15.47M	72.7M	81.88M	102.51M	97.69M
Total Current Liabilities+	193.17M	424.8M	753.43M	962.28M	1.37B	1.75B	1.57B	1.68B	1.73B	1.71B
Accounts Payable	10.41M	40.98M	77.63M	94.18M	227.12M	146.14M	86.87M	122.19M	119.34M	89.69M
Deferred Revenue	67.82M	261.4M	537.55M	726.26M	1.07B	995.12M	1.13B	1.19B	1.27B	1.4B
Other Liabilities	62.97M	6.69M	4.27B	4.45B	-1.04B	-781.38M	188.2M	167.09M	156.4M	145.7M
Total Equity+	-1.17B	2.59B	-1.12B	-1.41B	-1.48B	-2.07B	-2.11B	-2.27B	-2.48B	-2.45B
Equity Growth %	-133.91%	3.22%	-1.43%	-0.25%	-0.05%	-0.4%	-0.02%	-0.07%	-0.09%	0.01%
Shareholders Equity	-1.17B	-1.32B	-1.23B	-1.5B	-1.57B	-2.14B	-2.13B	-2.27B	-2.49B	-2.45B
Minority Interest	0	3.91B	101.41M	92.38M	83.7M	69.28M	14.02M	2.37M	2.27M	533K
Common Stock	15K	15K	17K	18K	19K	23K	23K	24K	24K	24K
Additional Paid-in Capital	1.39M	141.09M	644.33M	757.52M	951.29M	1.21B	1.21B	1.21B	1.22B	1.24B
Retained Earnings	-1.16B	-1.54B	-1.96B	-2.37B	-2.49B	-3.33B	-3.33B	-3.48B	-3.71B	-3.69B
Preferred Stock	0	80.55M	83.53M	86.51M	0	0	0	0	0	0
Return on Assets (ROA)	0.03%	-0%	-0%	0%	0%	-0.14%	0.03%	-0%	-0.02%	0.02%
Return on Equity (ROE)	-	-0%	-0.01%	-	-	-	-	-	-	-
Debt / Assets	1.38%	1.23%	1.05%	1.07%	1.01%	1.02%	1.07%	1.09%	1.12%	1.11%
Debt / Equity	-	1.58x	-	-	-	-	-	-	-	-
Net Debt / EBITDA	3.27x	3.68x	3.83x	3.95x	4.26x	4.45x	4.49x	5.91x	4.64x	6.21x
Book Value per Share	-12.92	28.17	-11.03	-13.18	-13.13	-16.88	-13.28	-15.99	-17.43	-17.14

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+	293.21M	375.99M	405.26M	472.82M	616.98M	157.23M	499.16M	460.12M	353.13M	366.69M
Operating CF Growth %	-	0.28%	0.08%	0.17%	0.3%	-0.75%	2.17%	-0.08%	-0.23%	0.04%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	23.72M	-212K	-8.83M	16.55M	10.91M	-718.81M	124.75M	-8.12M	-81.75M	93.43M
Depreciation & Amortization	238.75M	375.97M	434.2M	451.75M	405.75M	329.4M	290.94M	292.79M	310.53M	314.81M
Stock-Based Compensation	2.9M	4.85M	7.71M	8.06M	10.81M	13.72M	13.85M	12.75M	12.49M	13.51M
Other Non-Cash Items	479M	-355K	19.57M	13.66M	-6.19M	101.63M	9.63M	211.4M	222.87M	-19.39M
Working Capital Changes	30.66M	-2.08M	-6.23M	-9.82M	207.13M	445.18M	66.46M	-19.8M	-42.51M	-16.75M
Cash from Investing+	-1.08B	-535.23M	-1.02B	-480.54M	-544.78M	1.39M	-321.22M	-392.02M	-411.31M	-272.2M
Acquisitions (Net)	-1.03B	-500.33M	-853.38M	-56.97M	-324.73M	-73.41M	62.11M	541K	0	0
Purchase of Investments	0	-11.54M	-21.76M	0	-130.43M	-391.88M	-1.03M	-33.19M	0	0
Sale of Investments	0	0	0	0	1000K	1000K	1000K	1000K	0	0
Other Investing	-1.04B	-11.54M	-21.76M	-426.87M	130.43M	391.88M	2.52M	35.01M	5.69M	82.64M
Cash from Financing+	928.71M	188.77M	501.97M	-13.84M	32.63M	-223.91M	-196.57M	-78.58M	76.64M	27.08M
Dividends Paid	-156.85M	-367.83M	-400.21M	-426.09M	-138.73M	-135.68M	-141.37M	-164.1M	-107.41M	-108.45M
Common Dividends	-235.28M	-367.83M	-400.21M	-426.09M	-138.73M	-135.68M	-141.37M	-142.95M	-107.41M	-108.45M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K
Share Repurchases	-28.5K	0	-1.84M	0	-1.83M	-1.1M	-4.1M	-4.91M	-1.43M	-1.59M
Other Financing	-157.5M	-22.92M	-51.6M	79.28M	14.57M	227.19M	-259.08M	-20.13M	-168.59M	-115.52M
Net Change in Cash+	142.48M	29.26M	-111.99M	-21.74M	104.79M	-65.28M	-18.63M	-15.1M	18.46M	121.58M
Exchange Rate Effect	-18K	-267K	192K	-173K	-43K	0	0	0	0	0
Cash at Beginning	18K	142.5M	171.75M	59.77M	38.03M	142.81M	77.53M	58.9M	43.8M	62.26M
Cash at End	142.5M	171.75M	59.77M	38.03M	142.81M	77.53M	58.9M	43.8M	62.26M	183.85M
Free Cash Flow+	248.79M	341.09M	239.23M	49.24M	266.5M	-159.85M	113.3M	32.55M	-63.87M	11.86M
FCF Growth %	-	0.37%	-0.3%	-0.79%	4.41%	-1.6%	1.71%	-0.71%	-2.96%	1.19%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	4.38	4.09	4.17	4.38	3.69	-3.07	2.6	2	1.61	2.85
FFO Payout Ratio	59.5%	97.89%	94.22%	91.06%	33.32%	-36%	34.1%	50.24%	46.94%	26.57%
NOI Margin	96.02%	93.66%	88.21%	84.85%	80.74%	79.08%	85.97%	100%	86.31%	100%
Net Debt / EBITDA	3.27x	3.68x	3.83x	3.95x	4.26x	4.45x	4.49x	5.91x	4.64x	6.21x
Debt / Assets	137.86%	123.02%	104.83%	106.72%	101.07%	102.12%	107.36%	108.65%	111.96%	111.34%
Interest Coverage	-	2.49x	2.41x	2.44x	1.93x	1.49x	1.89x	1.57x	1.84x	1.24x
Book Value / Share	-12.92	28.17	-11.03	-13.18	-13.13	-16.88	-13.28	-15.99	-17.43	-17.14
Revenue Growth	1883.82%	7.83%	18.9%	11.09%	3.93%	0.89%	3.14%	2.57%	1.86%	1.49%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Leasing	-	-	-	-	-	-	827.46M	6.85M	6.53M
Leasing Growth	-	-	-	-	-	-	-	-99.17%	-4.69%
Tower	-	10.05M	-	14.69M	6.11M	-	-	-	-
Tower Growth	-	-	-	-	-58.40%	-	-	-	-
Leasing	677.37M	685.1M	699.85M	716.64M	745.91M	801.5M	-	-	-
Leasing Growth	-	1.14%	2.15%	2.40%	4.09%	7.45%	-	-	-
Fiber Infrastructure	70.57M	202.79M	289.24M	315.61M	314.36M	299.02M	-	-	-
Fiber Infrastructure Growth	-	187.37%	42.63%	9.12%	-0.39%	-4.88%	-	-	-
Consumer C L E C	22.47M	18.09M	13.93M	10.67M	651K	-	-	-	-
Consumer C L E C Growth	-	-19.51%	-22.98%	-23.39%	-93.90%	-	-	-	-
Tower	-	-	14.62M	-	-	-	-	-	-
Tower Growth	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	908.58M	1.01B	-	-	-	-	-	-
UNITED STATES Growth	-	-	10.97%	-	-	-	-	-	-
Latin America	-	7.46M	9.41M	-	-	-	-	-	-
Latin America Growth	-	-	26.21%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Uniti Group Inc. (UNIT) has a price-to-earnings (P/E) ratio of 11.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Uniti Group Inc. (UNIT) reported $1.18B in revenue for fiscal year 2024. This represents a 1759% increase from $63.5M in 2012.

Uniti Group Inc. (UNIT) grew revenue by 1.5% over the past year. Growth has been modest.

Yes, Uniti Group Inc. (UNIT) is profitable, generating $35.3M in net income for fiscal year 2024 (8.0% net margin).

Dividend & Returns

Yes, Uniti Group Inc. (UNIT) pays a dividend with a yield of 10.11%. This makes it attractive for income-focused investors.

Industry Metrics

Uniti Group Inc. (UNIT) generated Funds From Operations (FFO) of $353.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Uniti Group Inc. (UNIT) offers a 10.11% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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