Latest Ratios: P/E Ratio 1.3x · EV/EBITDA 7.7x · ROE 343.0%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.9B | $1.3B | $1.4B | $1.3B | $3.7B | $2.4B | $1.5B | $2.8B | $3.0B | $3.9B |
| Enterprise Value | $11.2B | $11.8B | $7.0B | $6.9B | $6.5B | $8.8B | $7.1B | $6.5B | $7.6B | $7.5B | $7.8B |
| P/E Ratio → | 1.27 | 1.44 | 14.28 | — | — | 27.70 | — | 205.73 | 368.90 | — | — |
| P/S Ratio | 0.36 | 0.84 | 1.12 | 1.19 | 1.16 | 3.37 | 2.24 | 1.46 | 2.71 | 3.29 | 5.04 |
| P/B Ratio | 3.66 | 4.91 | — | — | — | — | — | — | — | — | 1.50 |
| P/FCF | — | — | 110.25 | — | 40.10 | 32.70 | — | 5.78 | 56.06 | 12.58 | 11.38 |
| P/OCF | 3.62 | 5.33 | 3.57 | 3.87 | 2.84 | 7.42 | 15.22 | 2.50 | 5.84 | 7.43 | 10.32 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.26 | 6.03 | 6.03 | 5.79 | 8.00 | 6.70 | 6.12 | 7.49 | 8.18 | 10.11 |
| EV / EBITDA | 7.71 | 10.31 | 7.63 | 5.78 | 7.38 | 7.76 | 6.69 | 5.59 | 6.20 | 6.40 | 7.34 |
| EV / EBIT | 23.55 | 6.64 | 12.46 | 11.97 | 18.72 | 15.90 | 17.45 | 18.74 | 23.35 | 24.82 | 25.12 |
| EV / FCF | — | — | 592.98 | — | 200.69 | 77.75 | — | 24.27 | 154.83 | 31.31 | 22.84 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9% | 36.9% | 100.0% | 86.3% | 100.0% | 86.0% | 79.1% | 80.7% | 84.8% | 88.2% | 93.7% |
| Operating Margin | 21.2% | 21.2% | 52.0% | 77.4% | 52.4% | 76.8% | 69.2% | 71.0% | 76.5% | 80.3% | 89.1% |
| Net Profit Margin | 58.4% | 58.4% | 8.0% | -7.1% | -0.7% | 11.2% | -66.2% | 1.0% | 1.6% | -1.0% | -0.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 343.0% | 343.0% | — | — | — | — | — | — | — | -1.3% | -0.0% |
| ROA | 15.1% | 15.1% | 1.8% | -1.7% | -0.2% | 2.6% | -14.5% | 0.2% | 0.4% | -0.2% | -0.0% |
| ROIC | 5.2% | 5.2% | 14.3% | 22.1% | 14.9% | 22.3% | 18.1% | 16.3% | 17.1% | 11.2% | 11.8% |
| ROCE | 6.5% | 6.5% | 17.7% | 27.5% | 18.5% | 27.2% | 22.3% | 20.6% | 21.6% | 22.7% | 26.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 26.35 | 26.35 | — | — | — | — | — | — | — | — | 1.58 |
| Debt / EBITDA | 8.79 | 8.79 | 6.38 | 4.69 | 5.96 | 4.55 | 4.52 | 4.38 | 3.98 | 3.88 | 3.84 |
| Net Debt / Equity | — | 25.99 | — | — | — | — | — | — | — | — | 1.51 |
| Net Debt / EBITDA | 8.67 | 8.67 | 6.21 | 4.64 | 5.91 | 4.49 | 4.45 | 4.26 | 3.95 | 3.83 | 3.68 |
| Debt / FCF | — | — | 482.73 | — | 160.59 | 45.05 | — | 18.49 | 98.77 | 18.72 | 11.47 |
| Interest Coverage | 2.94 | 2.94 | 1.16 | 1.19 | 0.93 | 1.24 | 0.82 | 0.88 | 1.02 | 0.99 | 1.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.74 | 0.74 | 0.20 | 0.13 | 0.09 | 0.09 | 0.14 | 0.16 | 0.21 | 0.20 | 0.51 |
| Quick Ratio | 0.70 | 0.70 | 0.20 | 0.13 | 0.09 | 0.09 | 0.14 | 0.16 | 0.24 | 0.21 | 0.51 |
| Cash Ratio | 0.12 | 0.12 | 0.09 | 0.04 | 0.03 | 0.04 | 0.04 | 0.10 | 0.04 | 0.08 | 0.40 |
| Asset Turnover | — | 0.19 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.21 | 0.22 | 0.21 | 0.23 |
| Inventory Turnover | 32.03 | 32.03 | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 8.3% | 7.8% | 11.0% | 3.8% | 5.7% | 9.0% | 15.4% | 13.3% | 9.5% |
| Payout Ratio | — | — | 116.1% | — | — | 114.3% | — | 1311.0% | 2632.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 78.9% | 69.5% | 7.0% | — | — | 3.6% | — | 0.5% | 0.3% | — | — |
| FCF Yield | — | — | 0.9% | — | 2.5% | 3.1% | — | 17.3% | 1.8% | 7.9% | 8.8% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.1% | 0.4% | 0.1% | 0.0% | 0.1% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 8.4% | 8.0% | 11.3% | 3.9% | 5.7% | 9.1% | 15.4% | 13.4% | 9.5% |
| Shares Outstanding | — | $267M | $143M | $143M | $142M | $159M | $123M | $113M | $107M | $102M | $92M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying UNIT stock.
Uniti Group Inc.'s current P/E ratio is 1.3x. The historical average is 30.8x.
Uniti Group Inc.'s current EV/EBITDA is 7.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.0x.
Uniti Group Inc.'s return on equity (ROE) is 343.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 120.8%.
Based on historical data, Uniti Group Inc. is trading at a P/E of 1.3x. Compare with industry peers and growth rates for a complete picture.
Uniti Group Inc. has 36.9% gross margin and 21.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Uniti Group Inc.'s Debt/EBITDA ratio is 8.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Negative AFFO and leverage
Metrics are mathematically derived from official filings.
Valuation Distorted by Earnings Volatility
With P/FFO unavailable and P/E at 2.06, Uniti's valuation appears optically cheap, but as reported in financial statements, earnings volatility renders these multiples unreliable.
The P/E of 2.06 is misleading given the massive one-time gains in 2025Q3 that inflated net income, while subsequent quarters show losses. EV/EBITDA of 10.80 is more informative but still elevated relative to peers like LUMN (9.21) and ATUS (7.70), suggesting the market is pricing in some recovery. The implied cap rate, derived from NOI and enterprise value, is not directly provided but given the NOI margin compression, it likely understates the risk. Investors should focus on normalized FFO and AFFO, which are negative or volatile, rather than headline multiples.
NOI Margin Collapse Signals Distress
NOI margin plummeted from 100% in 2025Q2 to 24.2% in 2026Q2, as per quarterly filings, indicating a severe deterioration in core operating profitability.
The dramatic decline in NOI margin from 100% to 24.2% suggests a fundamental shift in asset mix or a surge in operating expenses, possibly related to the integration of acquired assets. FFO per share swung from $5.53 in 2025Q3 to -$0.00 in 2025Q4, then recovered to $0.59 in 2026Q2, but this volatility indicates that reported FFO is dominated by non-recurring items. The negative AFFO in 2026Q2 (-$1.23 per share) underscores that even after adjusting for maintenance capex, the company is not generating sufficient cash to cover its dividend, let alone fund growth.
Dividend Coverage Under Severe Pressure
Despite a reported FFO payout ratio of 11.1% in 2026Q2, AFFO is deeply negative at -$312.2M, as per SEC filings, indicating the dividend is not covered by sustainable cash flows.
The FFO payout ratio appears low, but this is misleading because FFO includes non-cash gains and does not account for maintenance capex. AFFO, which is a more conservative measure, turned sharply negative in 2026Q2, implying that the company is funding its dividend through debt or asset sales. The dividend yield is currently negligible (0.6%), suggesting the market expects a cut or elimination. Given the negative AFFO and the company's reliance on external financing, dividend sustainability is highly questionable.
Leverage at Critical Levels
Debt-to-equity surged to 68.69 in 2026Q2, with interest coverage at just 0.21, as reported in financial statements, indicating a precarious balance sheet.
The debt-to-equity ratio of 68.69 is extreme, reflecting a total debt of $11.1B against a thin equity base of $161.5M. Interest coverage of 0.21 means that operating income is insufficient to cover interest expenses, a clear sign of financial distress. The company's cash balance of $732.7M provides some liquidity, but it is dwarfed by the debt load. The maturity profile is not provided, but given the high leverage and low coverage, refinancing risk is significant. Investors should monitor the company's ability to refinance upcoming maturities without dilutive equity issuance.
Occupancy and Cost Efficiency Concerns
G&A efficiency appears strained as NOI margin fell to 24.2% in 2026Q2, per quarterly data, suggesting rising operating costs relative to revenue.
The sharp decline in NOI margin from 100% to 24.2% indicates that either occupancy has dropped significantly or operating expenses have escalated, possibly due to the integration of new assets. The company's asset base has grown substantially, with PP&E rising from $4.2B to $9.1B, but this expansion has not translated into stable profitability. Geographic and property-type concentration is not disclosed, but the volatility in revenue and NOI suggests a lack of diversification or reliance on a few large tenants. Investors should scrutinize same-store NOI growth, which appears muted based on the data.
P/E Misleads in REIT Context
The standard P/E ratio of 2.06 is deeply misleading for Uniti, as depreciation and one-time gains distort net income, per financial statements, obscuring the true earnings power.
For REITs, P/E is not a meaningful valuation metric because depreciation is a non-cash charge that reduces net income but does not reflect the actual cash-generating capacity of the properties. Uniti's P/E is artificially low due to the massive one-time gain in 2025Q3, which inflated net income. Instead, investors should use P/FFO and P/AFFO, but these are currently negative or unavailable, indicating that the company is not generating sustainable cash flow. The EV/EBITDA of 10.80 is a better proxy, but it still does not capture the maintenance capex burden. A more appropriate adjustment would be to normalize FFO by excluding non-recurring items and subtracting maintenance capex to derive a sustainable AFFO, which is currently negative.