UTStarcom Holdings Corp. (UTSI) 10-Year Financial Performance & Capital Metrics

UTSI • • Industrial / General

TechnologyCommunication EquipmentFiber & Cable ConnectivityFiber Access & FTTH

AboutUTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications in China, India, Japan, Taiwan, and internationally. The company's products include packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products. It serves telecommunications and cable service providers. The company was founded in 1991 and is based in Hangzhou, the People's Republic of China.Show more

Revenue $11M -30.9%
EBITDA -$7M -7.3%
Net Income -$4M -13.4%
EPS (Diluted) -0.48 -14.3%
Gross Margin 26.71% -4.1%
EBITDA Margin -64.86% -55.3%
Operating Margin -67.39% -55.9%
Net Margin -40.15% -64.3%
ROE -9.04% -27.7%
ROIC -3272.77% -3181.6%
Debt/Equity 0.04 -36.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Sales declining 30.2% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-21.94%

5Y-30.24%

3Y-11.92%

TTM-34.53%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-57.52%

EPS CAGR

10Y-

5Y-

3Y-

TTM-57.14%

ROCE

10Y Avg-6.49%

5Y Avg-13.16%

3Y Avg-11.03%

Latest-14.55%

Peer Comparison

Fiber Access & FTTH

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LITELumentum Holdings Inc.	24.34B	343.27	927.76	21.03%	3.7%	8.22%		2.30
CIENCiena Corporation	34.34B	243.79	420.33	-8.47%	3.1%	5.05%	1.1%	0.58
ADTNADTRAN Holdings, Inc.	728.25M	9.09	-1.60	-19.7%	-8.5%	-16.18%	5.27%	0.39
UTSIUTStarcom Holdings Corp.	23.68M	2.50	-5.21	-30.95%	-62.02%	-14.39%		0.04
CLFDClearfield, Inc.	447.56M	32.34	-55.76	-9.94%	-5.36%	-3.14%	5.52%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	117.1M	80.18M	98.29M	115.94M	65.82M	24.31M	15.92M	14.03M	15.75M	10.88M
Revenue Growth %	-0.1%	-0.32%	0.23%	0.18%	-0.43%	-0.63%	-0.35%	-0.12%	0.12%	-0.31%
Cost of Goods Sold+	89.23M	55.1M	65.14M	83.68M	41.47M	20.78M	17.01M	11.35M	11.36M	7.97M
COGS % of Revenue	0.76%	0.69%	0.66%	0.72%	0.63%	0.85%	1.07%	0.81%	0.72%	0.73%
Gross Profit+	27.87M	25.08M	33.15M	32.27M	24.36M	3.53M	-1.09M	2.67M	4.39M	2.91M
Gross Margin %	0.24%	0.31%	0.34%	0.28%	0.37%	0.15%	-0.07%	0.19%	0.28%	0.27%
Gross Profit Growth %	0.26%	-0.1%	0.32%	-0.03%	-0.25%	-0.86%	-1.31%	3.46%	0.64%	-0.34%
Operating Expenses+	32.86M	25.88M	26.63M	27.62M	30.19M	26.77M	4.14M	7.17M	11.2M	10.24M
OpEx % of Revenue	0.28%	0.32%	0.27%	0.24%	0.46%	1.1%	0.26%	0.51%	0.71%	0.94%
Selling, General & Admin	21.52M	17.38M	16.78M	14.88M	15.73M	18.69M	-2.74M	2.4M	5.32M	5.15M
SG&A % of Revenue	0.18%	0.22%	0.17%	0.13%	0.24%	0.77%	-0.17%	0.17%	0.34%	0.47%
Research & Development	11.34M	8.5M	9.85M	12.75M	14.46M	8.08M	6.89M	4.76M	5.88M	5.08M
R&D % of Revenue	0.1%	0.11%	0.1%	0.11%	0.22%	0.33%	0.43%	0.34%	0.37%	0.47%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-4.99M	-800K	6.52M	4.65M	-5.83M	-23.24M	-5.32M	-4.39M	-6.81M	-7.33M
Operating Margin %	-0.04%	-0.01%	0.07%	0.04%	-0.09%	-0.96%	-0.33%	-0.31%	-0.43%	-0.67%
Operating Income Growth %	0.65%	0.84%	9.14%	-0.29%	-2.26%	-2.98%	0.77%	0.18%	-0.55%	-0.08%
EBITDA+	-2.79M	408K	7.14M	5.35M	-5.19M	-22.67M	-4.95M	-4.18M	-6.58M	-7.06M
EBITDA Margin %	-0.02%	0.01%	0.07%	0.05%	-0.08%	-0.93%	-0.31%	-0.3%	-0.42%	-0.65%
EBITDA Growth %	0.76%	1.15%	16.51%	-0.25%	-1.97%	-3.37%	0.78%	0.15%	-0.57%	-0.07%
D&A (Non-Cash Add-back)	2.2M	1.21M	628K	702K	644K	572K	372K	206K	230K	275K
EBIT	-31.24M	1.71M	8.29M	4.49M	-3.93M	-25.45M	-5.32M	-4.39M	-6.81M	-7.33M
Net Interest Income+	1.61M	816K	1.13M	1.7M	1.32M	980K	1.14M	2.15M	2.21M	2.79M
Interest Income	1.69M	871K	1.18M	1.75M	1.34M	990K	1.14M	2.15M	2.21M	2.79M
Interest Expense	76K	55K	48K	47K	16K	10K	0	0	0	0
Other Income/Expense	-26.33M	-788K	1.73M	75K	2.19M	-2.21M	2.79M	1.45M	4.23M	3.65M
Pretax Income+	-23.82M	108K	8.24M	4.72M	-3.74M	-25.46M	-2.53M	-2.94M	-2.58M	-3.69M
Pretax Margin %	-0.2%	0%	0.08%	0.04%	-0.06%	-1.05%	-0.16%	-0.21%	-0.16%	-0.34%
Income Tax+	-4.16M	-726K	1.26M	-378K	-153K	-1.78M	3.29M	2.06M	1.27M	683K
Effective Tax Rate %	0.83%	9.19%	0.85%	1.08%	0.96%	0.93%	2.3%	1.7%	1.49%	1.19%
Net Income+	-19.66M	992K	6.98M	5.1M	-3.58M	-23.68M	-5.83M	-5M	-3.85M	-4.37M
Net Margin %	-0.17%	0.01%	0.07%	0.04%	-0.05%	-0.97%	-0.37%	-0.36%	-0.24%	-0.4%
Net Income Growth %	0.35%	1.05%	6.04%	-0.27%	-1.7%	-5.6%	0.75%	0.14%	0.23%	-0.13%
Net Income (Continuing)	-27.16M	132K	6.98M	4.82M	-3.91M	-23.68M	-5.83M	-5M	-3.85M	-4.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.12	0.04	0.76	0.56	-0.40	-2.64	-0.65	-0.55	-0.42	-0.48
EPS Growth %	0.35%	1.02%	18%	-0.26%	-1.71%	-5.6%	0.75%	0.15%	0.24%	-0.14%
EPS (Basic)	-2.14	0.04	0.80	0.57	-0.40	-2.64	-0.65	-0.55	-0.42	-0.48
Diluted Shares Outstanding	9.25M	9.1M	9.04M	9.08M	8.89M	8.97M	9.01M	9.06M	9.11M	9.15M
Basic Shares Outstanding	9.18M	8.95M	8.87M	8.91M	8.89M	8.97M	9.01M	9.06M	9.11M	9.15M
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+	161.61M	158.32M	162.48M	158.43M	137.56M	109.91M	97.78M	81.72M	70.6M	62.8M
Cash & Short-Term Investments	77.05M	84.4M	82.89M	57.05M	37.06M	36.32M	53.8M	54.5M	49.97M	50.9M
Cash Only	77.05M	83.92M	79.75M	57.05M	34.97M	34.22M	53.8M	54.5M	49.97M	50.74M
Short-Term Investments	0	479K	3.14M	0	2.1M	2.1M	0	0	0	165K
Accounts Receivable	19.77M	19.14M	17.89M	61.46M	79.19M	49.68M	27.55M	12.45M	9.15M	6.11M
Days Sales Outstanding	61.62	87.13	66.45	193.48	439.13	745.93	631.67	324.04	211.91	205.15
Inventory	42.97M	42.02M	36.35M	26.82M	6.65M	6.71M	1.56M	1.27M	795K	1.95M
Days Inventory Outstanding	175.76	278.37	203.65	116.98	58.5	117.78	33.39	40.81	25.54	89.46
Other Current Assets	42.16M	31.58M	43.17M	12.58M	10.5M	15.86M	13.76M	9.85M	7.21M	3.46M
Total Non-Current Assets+	44.27M	25.6M	20.23M	17.3M	13.27M	8.82M	10.44M	7.2M	6.88M	5.4M
Property, Plant & Equipment	1.51M	1.61M	1.71M	1.26M	3.43M	1.8M	5.34M	3.34M	3.26M	1.88M
Fixed Asset Turnover	77.55x	49.80x	57.35x	92.17x	19.18x	13.49x	2.98x	4.19x	4.83x	5.80x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	26.02M	7.75M	5.86M	5.22M	3.13M	0	2.4M	2.48M	2.56M	2.41M
Other Non-Current Assets	42.43M	23.71M	18.24M	16.02M	9.84M	4.83M	2.98M	3.02M	3.07M	741K
Total Assets+	205.88M	183.92M	182.71M	175.73M	150.83M	118.72M	108.22M	88.92M	77.48M	68.2M
Asset Turnover	0.57x	0.44x	0.54x	0.66x	0.44x	0.20x	0.15x	0.16x	0.20x	0.16x
Asset Growth %	-0.26%	-0.11%	-0.01%	-0.04%	-0.14%	-0.21%	-0.09%	-0.18%	-0.13%	-0.12%
Total Current Liabilities+	97.79M	85.14M	83.93M	67.81M	48.64M	40.04M	35.43M	28.85M	23.39M	21.53M
Accounts Payable	16.4M	22.48M	27.45M	50.76M	30.88M	25.12M	19.03M	12.97M	7.96M	7.01M
Days Payables Outstanding	67.08	148.91	153.81	221.41	271.77	441.21	408.41	417.23	255.66	320.86
Short-Term Debt	0	0	0	0	0	1.22M	1.41M	1.23M	1.18M	1.18M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	801K	311K	202K	298K	831K
Other Current Liabilities	8.41M	55.87M	16.71M	5.29M	4.36M	10.64M	897K	9.43M	1.75M	1.84M
Current Ratio	1.65x	1.86x	1.94x	2.34x	2.83x	2.74x	2.76x	2.83x	3.02x	2.92x
Quick Ratio	1.21x	1.37x	1.50x	1.94x	2.69x	2.58x	2.72x	2.79x	2.98x	2.83x
Cash Conversion Cycle	170.29	216.59	116.29	89.06	225.86	422.5	256.65	-52.38	-18.21	-26.25
Total Non-Current Liabilities+	16.81M	8.86M	7.79M	5.48M	2.67M	1.28M	4.5M	2.92M	2.71M	1.45M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.36M	256K	3.5M	1.89M	1.66M	404K
Deferred Tax Liabilities	11.19M	2.05M	3.01M	2.31M	-1.35M	-1M	-979K	-1M	0	0
Other Non-Current Liabilities	8.26M	4.98M	3.65M	2.5M	1.35M	1M	979K	1M	1.02M	1.04M
Total Liabilities	114.6M	94.01M	91.72M	73.28M	51.31M	41.32M	39.82M	31.56M	26.1M	22.97M
Total Debt+	0	0	0	0	2.3M	1.47M	4.91M	3.12M	2.84M	1.59M
Net Debt	-77.05M	-83.92M	-79.75M	-57.05M	-32.67M	-32.75M	-48.89M	-51.38M	-47.12M	-49.15M
Debt / Equity	-	-	-	-	0.02x	0.02x	0.07x	0.05x	0.06x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-205.69x	-11.16x	-10.67x	-	-	-	-	-	-
Interest Coverage	-65.64x	-14.55x	135.75x	98.87x	-364.69x	-2324.30x	-	-	-	-
Total Equity+	91.28M	89.91M	90.99M	102.45M	99.52M	77.4M	68.4M	57.36M	51.38M	45.23M
Equity Growth %	-0.21%	-0.01%	0.01%	0.13%	-0.03%	-0.22%	-0.12%	-0.16%	-0.1%	-0.12%
Book Value per Share	9.87	9.88	10.06	11.28	11.20	8.63	7.59	6.33	5.64	4.94
Total Shareholders' Equity	91.28M	89.91M	90.99M	102.45M	99.52M	77.4M	68.4M	57.36M	51.38M	45.23M
Common Stock	122K	122K	122K	123K	123K	123K	123K	123K	123K	156K
Retained Earnings	-1.23B	-1.23B	-1.23B	-1.21B	-1.22B	-1.24B	-1.25B	-1.25B	-1.26B	-1.26B
Treasury Stock	-4.14M	-8.23M	-8.37M	-10.9M	-11.95M	-12.32M	-12.32M	-12.34M	-12.34M	-12.34M
Accumulated OCI	61.47M	62M	62.41M	61.57M	62.1M	63.66M	59.94M	53.44M	50.91M	49.01M
Minority Interest	0	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+	-11.64M	5.57M	3.84M	-26.11M	-24.15M	-3.4M	18.98M	7.26M	-4.48M	-4.46M
Operating CF Margin %	-0.1%	0.07%	0.04%	-0.23%	-0.37%	-0.14%	1.19%	0.52%	-0.28%	-0.41%
Operating CF Growth %	0.25%	1.48%	-0.31%	-7.8%	0.08%	0.86%	6.58%	-0.62%	-1.62%	0%
Net Income	-19.66M	992K	6.98M	5.1M	-3.58M	-23.68M	-6.25M	-5.11M	-3.85M	-4.37M
Depreciation & Amortization	2.2M	1.33M	628K	702K	644K	572K	371K	1.43M	1.43M	275K
Stock-Based Compensation	1.55M	2.24M	866K	1.1M	1.4M	703K	504K	603K	293K	0
Deferred Taxes	1.03M	-243K	-963K	705K	-303K	-1.5M	2.14M	1.29M	275K	154K
Other Non-Cash Items	13.24M	-1.57M	3.36M	-3.63M	1.62M	10.47M	-9.84M	-3.51M	-1.23M	1.11M
Working Capital Changes	-10M	2.82M	-7.03M	-30.08M	-23.92M	10.03M	32.05M	12.56M	-1.4M	-1.63M
Change in Receivables	-1.49M	-1.97M	1.41M	-44.81M	-21.56M	18.77M	31.34M	19.04M	4.8M	3.57M
Change in Inventory	35.97M	-190K	1.21M	6.57M	20.18M	-60K	578K	682K	303K	-1.42M
Change in Payables	-12.23M	7.39M	5.18M	23.19M	-19.88M	-5.75M	-6.09M	-6.06M	-5.01M	-951K
Cash from Investing+	17.42M	7.07M	-10.1M	2.25M	-507K	1.98M	1.75M	-250K	-255K	-158K
Capital Expenditures	-917K	-1.53M	-731K	-225K	-507K	-115K	-348K	-250K	-255K	-158K
CapEx % of Revenue	0.01%	0.02%	0.01%	0%	0.01%	0%	0.02%	0.02%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.5M	1.13M	-6.22M	3.14M	0	0	0	0	0	0
Cash from Financing+	-3.66M	-4.09M	-27K	-2.42M	-993K	-374K	0	7K	4K	0
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	39K	-304K	113K	101K	56K	0	0	20K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.55M	4.04M	3.11M	-26.33M	-24.65M	-3.52M	18.63M	7.01M	-4.73M	-4.62M
FCF Margin %	-0.11%	0.05%	0.03%	-0.23%	-0.37%	-0.14%	1.17%	0.5%	-0.3%	-0.42%
FCF Growth %	0.26%	1.32%	-0.23%	-9.47%	0.06%	0.86%	6.3%	-0.62%	-1.68%	0.02%
FCF per Share	-1.36	0.44	0.34	-2.90	-2.77	-0.39	2.07	0.77	-0.52	-0.50
FCF Conversion (FCF/Net Income)	0.59x	5.62x	0.55x	-5.12x	6.74x	0.14x	-3.26x	-1.45x	1.16x	1.02x
Interest Paid	76K	55K	48K	47K	16K	10K	0	0	0	0
Taxes Paid	363K	3.31M	2.01M	1.22M	1.4M	2.1M	800K	1.34M	963K	854K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-19.03%	1.09%	7.72%	5.27%	-3.55%	-26.77%	-7.99%	-7.95%	-7.08%	-9.04%
Return on Invested Capital (ROIC)	-14.47%	-5.94%	56.72%	12.31%	-7.8%	-31.27%	-12.43%	-25.81%	-99.73%	-3272.77%
Gross Margin	23.8%	31.28%	33.72%	27.83%	37%	14.52%	-6.83%	19.07%	27.87%	26.71%
Net Margin	-16.79%	1.24%	7.1%	4.4%	-5.45%	-97.39%	-36.61%	-35.66%	-24.45%	-40.15%
Debt / Equity	-	-	-	-	0.02x	0.02x	0.07x	0.05x	0.06x	0.04x
Interest Coverage	-65.64x	-14.55x	135.75x	98.87x	-364.69x	-2324.30x	-	-	-	-
FCF Conversion	0.59x	5.62x	0.55x	-5.12x	6.74x	0.14x	-3.26x	-1.45x	1.16x	1.02x
Revenue Growth	-9.52%	-31.53%	22.58%	17.96%	-43.23%	-63.07%	-34.51%	-11.91%	12.32%	-30.95%

Revenue by Segment

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2024
Service	-	-	-	-	18.26M	21.9M	11.93M	13.6M	11.77M	9.47M
Service Growth	-	-	-	-	-	19.91%	-45.55%	14.03%	-13.46%	-19.51%
Product	-	-	-	-	97.68M	43.72M	12.38M	2.32M	2.28M	1.41M
Product Growth	-	-	-	-	-	-55.24%	-71.67%	-81.24%	-1.68%	-38.44%
Equipment	141.14M	105.99M	61.73M	77.28M	-	-	-	-	-	-
Equipment Growth	-	-24.90%	-41.75%	25.19%	-	-	-	-	-	-
Equipment Based Services	23.3M	23.43M	24.78M	21.01M	-	-	-	-	-	-
Equipment Based Services Growth	-	0.56%	5.74%	-15.21%	-	-	-	-	-	-

Revenue by Geography

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2024
INDIA	26.59M	37.42M	-	-	70.11M	37.21M	9.81M	8.22M	7.15M	4.89M
INDIA Growth	-	40.72%	-	-	-	-46.93%	-73.64%	-16.17%	-13.00%	-31.59%
JAPAN	93.2M	59M	-	-	35.5M	21.76M	12.21M	5.84M	5.17M	3.9M
JAPAN Growth	-	-36.70%	-	-	-	-38.71%	-43.90%	-52.15%	-11.59%	-24.47%
CHINA	6.95M	15.46M	-	-	3.15M	2.44M	2.29M	1.86M	1.74M	2.08M
CHINA Growth	-	122.68%	-	-	-	-22.47%	-6.27%	-18.72%	-6.62%	20.12%
Other Countries	24.36M	10.83M	692K	811K	743K	702K	9K	-	-	-
Other Countries Growth	-	-55.57%	-93.61%	17.20%	-8.38%	-5.52%	-98.72%	-	-	-
TAIWAN, PROVINCE OF CHINA	13.33M	6.71M	-	-	6.45M	3.52M	-	-	-	-
TAIWAN, PROVINCE OF CHINA Growth	-	-49.70%	-	-	-	-45.46%	-	-	-	-
J	-	-	45.56M	49.19M	-	-	-	-	-	-
J Growth	-	-	-	7.95%	-	-	-	-	-	-
I	-	-	33.02M	42.35M	-	-	-	-	-	-
I Growth	-	-	-	28.26%	-	-	-	-	-	-
T	-	-	3.22M	3.02M	-	-	-	-	-	-
T Growth	-	-	-	-6.19%	-	-	-	-	-	-
C	-	-	4.02M	2.93M	-	-	-	-	-	-
C Growth	-	-	-	-27.23%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

UTStarcom Holdings Corp. (UTSI) reported $9.8M in revenue for fiscal year 2024. This represents a 97% decrease from $320.6M in 2011.

UTStarcom Holdings Corp. (UTSI) saw revenue decline by 30.9% over the past year.

UTStarcom Holdings Corp. (UTSI) reported a net loss of $6.1M for fiscal year 2024.

Dividend & Returns

UTStarcom Holdings Corp. (UTSI) has a return on equity (ROE) of -9.0%. Negative ROE indicates the company is unprofitable.

UTStarcom Holdings Corp. (UTSI) had negative free cash flow of $6.6M in fiscal year 2024, likely due to heavy capital investments.

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UTStarcom Holdings Corp. (UTSI) 10-Year Financial Performance & Capital Metrics

UTSI • • Industrial / General

TechnologyCommunication EquipmentFiber & Cable ConnectivityFiber Access & FTTH

Revenue $11M -30.9%
EBITDA -$7M -7.3%
Net Income -$4M -13.4%
EPS (Diluted) -0.48 -14.3%
Gross Margin 26.71% -4.1%
EBITDA Margin -64.86% -55.3%
Operating Margin -67.39% -55.9%
Net Margin -40.15% -64.3%
ROE -9.04% -27.7%
ROIC -3272.77% -3181.6%
Debt/Equity 0.04 -36.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Sales declining 30.2% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-21.94%

5Y-30.24%

3Y-11.92%

TTM-34.53%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-57.52%

EPS CAGR

10Y-

5Y-

3Y-

TTM-57.14%

ROCE

10Y Avg-6.49%

5Y Avg-13.16%

3Y Avg-11.03%

Latest-14.55%

Peer Comparison

Fiber Access & FTTH

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LITELumentum Holdings Inc.	24.34B	343.27	927.76	21.03%	3.7%	8.22%		2.30
CIENCiena Corporation	34.34B	243.79	420.33	-8.47%	3.1%	5.05%	1.1%	0.58
ADTNADTRAN Holdings, Inc.	728.25M	9.09	-1.60	-19.7%	-8.5%	-16.18%	5.27%	0.39
UTSIUTStarcom Holdings Corp.	23.68M	2.50	-5.21	-30.95%	-62.02%	-14.39%		0.04
CLFDClearfield, Inc.	447.56M	32.34	-55.76	-9.94%	-5.36%	-3.14%	5.52%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	117.1M	80.18M	98.29M	115.94M	65.82M	24.31M	15.92M	14.03M	15.75M	10.88M
Revenue Growth %	-0.1%	-0.32%	0.23%	0.18%	-0.43%	-0.63%	-0.35%	-0.12%	0.12%	-0.31%
Cost of Goods Sold+	89.23M	55.1M	65.14M	83.68M	41.47M	20.78M	17.01M	11.35M	11.36M	7.97M
COGS % of Revenue	0.76%	0.69%	0.66%	0.72%	0.63%	0.85%	1.07%	0.81%	0.72%	0.73%
Gross Profit+	27.87M	25.08M	33.15M	32.27M	24.36M	3.53M	-1.09M	2.67M	4.39M	2.91M
Gross Margin %	0.24%	0.31%	0.34%	0.28%	0.37%	0.15%	-0.07%	0.19%	0.28%	0.27%
Gross Profit Growth %	0.26%	-0.1%	0.32%	-0.03%	-0.25%	-0.86%	-1.31%	3.46%	0.64%	-0.34%
Operating Expenses+	32.86M	25.88M	26.63M	27.62M	30.19M	26.77M	4.14M	7.17M	11.2M	10.24M
OpEx % of Revenue	0.28%	0.32%	0.27%	0.24%	0.46%	1.1%	0.26%	0.51%	0.71%	0.94%
Selling, General & Admin	21.52M	17.38M	16.78M	14.88M	15.73M	18.69M	-2.74M	2.4M	5.32M	5.15M
SG&A % of Revenue	0.18%	0.22%	0.17%	0.13%	0.24%	0.77%	-0.17%	0.17%	0.34%	0.47%
Research & Development	11.34M	8.5M	9.85M	12.75M	14.46M	8.08M	6.89M	4.76M	5.88M	5.08M
R&D % of Revenue	0.1%	0.11%	0.1%	0.11%	0.22%	0.33%	0.43%	0.34%	0.37%	0.47%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-4.99M	-800K	6.52M	4.65M	-5.83M	-23.24M	-5.32M	-4.39M	-6.81M	-7.33M
Operating Margin %	-0.04%	-0.01%	0.07%	0.04%	-0.09%	-0.96%	-0.33%	-0.31%	-0.43%	-0.67%
Operating Income Growth %	0.65%	0.84%	9.14%	-0.29%	-2.26%	-2.98%	0.77%	0.18%	-0.55%	-0.08%
EBITDA+	-2.79M	408K	7.14M	5.35M	-5.19M	-22.67M	-4.95M	-4.18M	-6.58M	-7.06M
EBITDA Margin %	-0.02%	0.01%	0.07%	0.05%	-0.08%	-0.93%	-0.31%	-0.3%	-0.42%	-0.65%
EBITDA Growth %	0.76%	1.15%	16.51%	-0.25%	-1.97%	-3.37%	0.78%	0.15%	-0.57%	-0.07%
D&A (Non-Cash Add-back)	2.2M	1.21M	628K	702K	644K	572K	372K	206K	230K	275K
EBIT	-31.24M	1.71M	8.29M	4.49M	-3.93M	-25.45M	-5.32M	-4.39M	-6.81M	-7.33M
Net Interest Income+	1.61M	816K	1.13M	1.7M	1.32M	980K	1.14M	2.15M	2.21M	2.79M
Interest Income	1.69M	871K	1.18M	1.75M	1.34M	990K	1.14M	2.15M	2.21M	2.79M
Interest Expense	76K	55K	48K	47K	16K	10K	0	0	0	0
Other Income/Expense	-26.33M	-788K	1.73M	75K	2.19M	-2.21M	2.79M	1.45M	4.23M	3.65M
Pretax Income+	-23.82M	108K	8.24M	4.72M	-3.74M	-25.46M	-2.53M	-2.94M	-2.58M	-3.69M
Pretax Margin %	-0.2%	0%	0.08%	0.04%	-0.06%	-1.05%	-0.16%	-0.21%	-0.16%	-0.34%
Income Tax+	-4.16M	-726K	1.26M	-378K	-153K	-1.78M	3.29M	2.06M	1.27M	683K
Effective Tax Rate %	0.83%	9.19%	0.85%	1.08%	0.96%	0.93%	2.3%	1.7%	1.49%	1.19%
Net Income+	-19.66M	992K	6.98M	5.1M	-3.58M	-23.68M	-5.83M	-5M	-3.85M	-4.37M
Net Margin %	-0.17%	0.01%	0.07%	0.04%	-0.05%	-0.97%	-0.37%	-0.36%	-0.24%	-0.4%
Net Income Growth %	0.35%	1.05%	6.04%	-0.27%	-1.7%	-5.6%	0.75%	0.14%	0.23%	-0.13%
Net Income (Continuing)	-27.16M	132K	6.98M	4.82M	-3.91M	-23.68M	-5.83M	-5M	-3.85M	-4.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.12	0.04	0.76	0.56	-0.40	-2.64	-0.65	-0.55	-0.42	-0.48
EPS Growth %	0.35%	1.02%	18%	-0.26%	-1.71%	-5.6%	0.75%	0.15%	0.24%	-0.14%
EPS (Basic)	-2.14	0.04	0.80	0.57	-0.40	-2.64	-0.65	-0.55	-0.42	-0.48
Diluted Shares Outstanding	9.25M	9.1M	9.04M	9.08M	8.89M	8.97M	9.01M	9.06M	9.11M	9.15M
Basic Shares Outstanding	9.18M	8.95M	8.87M	8.91M	8.89M	8.97M	9.01M	9.06M	9.11M	9.15M
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+	161.61M	158.32M	162.48M	158.43M	137.56M	109.91M	97.78M	81.72M	70.6M	62.8M
Cash & Short-Term Investments	77.05M	84.4M	82.89M	57.05M	37.06M	36.32M	53.8M	54.5M	49.97M	50.9M
Cash Only	77.05M	83.92M	79.75M	57.05M	34.97M	34.22M	53.8M	54.5M	49.97M	50.74M
Short-Term Investments	0	479K	3.14M	0	2.1M	2.1M	0	0	0	165K
Accounts Receivable	19.77M	19.14M	17.89M	61.46M	79.19M	49.68M	27.55M	12.45M	9.15M	6.11M
Days Sales Outstanding	61.62	87.13	66.45	193.48	439.13	745.93	631.67	324.04	211.91	205.15
Inventory	42.97M	42.02M	36.35M	26.82M	6.65M	6.71M	1.56M	1.27M	795K	1.95M
Days Inventory Outstanding	175.76	278.37	203.65	116.98	58.5	117.78	33.39	40.81	25.54	89.46
Other Current Assets	42.16M	31.58M	43.17M	12.58M	10.5M	15.86M	13.76M	9.85M	7.21M	3.46M
Total Non-Current Assets+	44.27M	25.6M	20.23M	17.3M	13.27M	8.82M	10.44M	7.2M	6.88M	5.4M
Property, Plant & Equipment	1.51M	1.61M	1.71M	1.26M	3.43M	1.8M	5.34M	3.34M	3.26M	1.88M
Fixed Asset Turnover	77.55x	49.80x	57.35x	92.17x	19.18x	13.49x	2.98x	4.19x	4.83x	5.80x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	26.02M	7.75M	5.86M	5.22M	3.13M	0	2.4M	2.48M	2.56M	2.41M
Other Non-Current Assets	42.43M	23.71M	18.24M	16.02M	9.84M	4.83M	2.98M	3.02M	3.07M	741K
Total Assets+	205.88M	183.92M	182.71M	175.73M	150.83M	118.72M	108.22M	88.92M	77.48M	68.2M
Asset Turnover	0.57x	0.44x	0.54x	0.66x	0.44x	0.20x	0.15x	0.16x	0.20x	0.16x
Asset Growth %	-0.26%	-0.11%	-0.01%	-0.04%	-0.14%	-0.21%	-0.09%	-0.18%	-0.13%	-0.12%
Total Current Liabilities+	97.79M	85.14M	83.93M	67.81M	48.64M	40.04M	35.43M	28.85M	23.39M	21.53M
Accounts Payable	16.4M	22.48M	27.45M	50.76M	30.88M	25.12M	19.03M	12.97M	7.96M	7.01M
Days Payables Outstanding	67.08	148.91	153.81	221.41	271.77	441.21	408.41	417.23	255.66	320.86
Short-Term Debt	0	0	0	0	0	1.22M	1.41M	1.23M	1.18M	1.18M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	801K	311K	202K	298K	831K
Other Current Liabilities	8.41M	55.87M	16.71M	5.29M	4.36M	10.64M	897K	9.43M	1.75M	1.84M
Current Ratio	1.65x	1.86x	1.94x	2.34x	2.83x	2.74x	2.76x	2.83x	3.02x	2.92x
Quick Ratio	1.21x	1.37x	1.50x	1.94x	2.69x	2.58x	2.72x	2.79x	2.98x	2.83x
Cash Conversion Cycle	170.29	216.59	116.29	89.06	225.86	422.5	256.65	-52.38	-18.21	-26.25
Total Non-Current Liabilities+	16.81M	8.86M	7.79M	5.48M	2.67M	1.28M	4.5M	2.92M	2.71M	1.45M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.36M	256K	3.5M	1.89M	1.66M	404K
Deferred Tax Liabilities	11.19M	2.05M	3.01M	2.31M	-1.35M	-1M	-979K	-1M	0	0
Other Non-Current Liabilities	8.26M	4.98M	3.65M	2.5M	1.35M	1M	979K	1M	1.02M	1.04M
Total Liabilities	114.6M	94.01M	91.72M	73.28M	51.31M	41.32M	39.82M	31.56M	26.1M	22.97M
Total Debt+	0	0	0	0	2.3M	1.47M	4.91M	3.12M	2.84M	1.59M
Net Debt	-77.05M	-83.92M	-79.75M	-57.05M	-32.67M	-32.75M	-48.89M	-51.38M	-47.12M	-49.15M
Debt / Equity	-	-	-	-	0.02x	0.02x	0.07x	0.05x	0.06x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-205.69x	-11.16x	-10.67x	-	-	-	-	-	-
Interest Coverage	-65.64x	-14.55x	135.75x	98.87x	-364.69x	-2324.30x	-	-	-	-
Total Equity+	91.28M	89.91M	90.99M	102.45M	99.52M	77.4M	68.4M	57.36M	51.38M	45.23M
Equity Growth %	-0.21%	-0.01%	0.01%	0.13%	-0.03%	-0.22%	-0.12%	-0.16%	-0.1%	-0.12%
Book Value per Share	9.87	9.88	10.06	11.28	11.20	8.63	7.59	6.33	5.64	4.94
Total Shareholders' Equity	91.28M	89.91M	90.99M	102.45M	99.52M	77.4M	68.4M	57.36M	51.38M	45.23M
Common Stock	122K	122K	122K	123K	123K	123K	123K	123K	123K	156K
Retained Earnings	-1.23B	-1.23B	-1.23B	-1.21B	-1.22B	-1.24B	-1.25B	-1.25B	-1.26B	-1.26B
Treasury Stock	-4.14M	-8.23M	-8.37M	-10.9M	-11.95M	-12.32M	-12.32M	-12.34M	-12.34M	-12.34M
Accumulated OCI	61.47M	62M	62.41M	61.57M	62.1M	63.66M	59.94M	53.44M	50.91M	49.01M
Minority Interest	0	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+	-11.64M	5.57M	3.84M	-26.11M	-24.15M	-3.4M	18.98M	7.26M	-4.48M	-4.46M
Operating CF Margin %	-0.1%	0.07%	0.04%	-0.23%	-0.37%	-0.14%	1.19%	0.52%	-0.28%	-0.41%
Operating CF Growth %	0.25%	1.48%	-0.31%	-7.8%	0.08%	0.86%	6.58%	-0.62%	-1.62%	0%
Net Income	-19.66M	992K	6.98M	5.1M	-3.58M	-23.68M	-6.25M	-5.11M	-3.85M	-4.37M
Depreciation & Amortization	2.2M	1.33M	628K	702K	644K	572K	371K	1.43M	1.43M	275K
Stock-Based Compensation	1.55M	2.24M	866K	1.1M	1.4M	703K	504K	603K	293K	0
Deferred Taxes	1.03M	-243K	-963K	705K	-303K	-1.5M	2.14M	1.29M	275K	154K
Other Non-Cash Items	13.24M	-1.57M	3.36M	-3.63M	1.62M	10.47M	-9.84M	-3.51M	-1.23M	1.11M
Working Capital Changes	-10M	2.82M	-7.03M	-30.08M	-23.92M	10.03M	32.05M	12.56M	-1.4M	-1.63M
Change in Receivables	-1.49M	-1.97M	1.41M	-44.81M	-21.56M	18.77M	31.34M	19.04M	4.8M	3.57M
Change in Inventory	35.97M	-190K	1.21M	6.57M	20.18M	-60K	578K	682K	303K	-1.42M
Change in Payables	-12.23M	7.39M	5.18M	23.19M	-19.88M	-5.75M	-6.09M	-6.06M	-5.01M	-951K
Cash from Investing+	17.42M	7.07M	-10.1M	2.25M	-507K	1.98M	1.75M	-250K	-255K	-158K
Capital Expenditures	-917K	-1.53M	-731K	-225K	-507K	-115K	-348K	-250K	-255K	-158K
CapEx % of Revenue	0.01%	0.02%	0.01%	0%	0.01%	0%	0.02%	0.02%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.5M	1.13M	-6.22M	3.14M	0	0	0	0	0	0
Cash from Financing+	-3.66M	-4.09M	-27K	-2.42M	-993K	-374K	0	7K	4K	0
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	39K	-304K	113K	101K	56K	0	0	20K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.55M	4.04M	3.11M	-26.33M	-24.65M	-3.52M	18.63M	7.01M	-4.73M	-4.62M
FCF Margin %	-0.11%	0.05%	0.03%	-0.23%	-0.37%	-0.14%	1.17%	0.5%	-0.3%	-0.42%
FCF Growth %	0.26%	1.32%	-0.23%	-9.47%	0.06%	0.86%	6.3%	-0.62%	-1.68%	0.02%
FCF per Share	-1.36	0.44	0.34	-2.90	-2.77	-0.39	2.07	0.77	-0.52	-0.50
FCF Conversion (FCF/Net Income)	0.59x	5.62x	0.55x	-5.12x	6.74x	0.14x	-3.26x	-1.45x	1.16x	1.02x
Interest Paid	76K	55K	48K	47K	16K	10K	0	0	0	0
Taxes Paid	363K	3.31M	2.01M	1.22M	1.4M	2.1M	800K	1.34M	963K	854K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-19.03%	1.09%	7.72%	5.27%	-3.55%	-26.77%	-7.99%	-7.95%	-7.08%	-9.04%
Return on Invested Capital (ROIC)	-14.47%	-5.94%	56.72%	12.31%	-7.8%	-31.27%	-12.43%	-25.81%	-99.73%	-3272.77%
Gross Margin	23.8%	31.28%	33.72%	27.83%	37%	14.52%	-6.83%	19.07%	27.87%	26.71%
Net Margin	-16.79%	1.24%	7.1%	4.4%	-5.45%	-97.39%	-36.61%	-35.66%	-24.45%	-40.15%
Debt / Equity	-	-	-	-	0.02x	0.02x	0.07x	0.05x	0.06x	0.04x
Interest Coverage	-65.64x	-14.55x	135.75x	98.87x	-364.69x	-2324.30x	-	-	-	-
FCF Conversion	0.59x	5.62x	0.55x	-5.12x	6.74x	0.14x	-3.26x	-1.45x	1.16x	1.02x
Revenue Growth	-9.52%	-31.53%	22.58%	17.96%	-43.23%	-63.07%	-34.51%	-11.91%	12.32%	-30.95%

Revenue by Segment

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2024
Service	-	-	-	-	18.26M	21.9M	11.93M	13.6M	11.77M	9.47M
Service Growth	-	-	-	-	-	19.91%	-45.55%	14.03%	-13.46%	-19.51%
Product	-	-	-	-	97.68M	43.72M	12.38M	2.32M	2.28M	1.41M
Product Growth	-	-	-	-	-	-55.24%	-71.67%	-81.24%	-1.68%	-38.44%
Equipment	141.14M	105.99M	61.73M	77.28M	-	-	-	-	-	-
Equipment Growth	-	-24.90%	-41.75%	25.19%	-	-	-	-	-	-
Equipment Based Services	23.3M	23.43M	24.78M	21.01M	-	-	-	-	-	-
Equipment Based Services Growth	-	0.56%	5.74%	-15.21%	-	-	-	-	-	-

Revenue by Geography

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2024
INDIA	26.59M	37.42M	-	-	70.11M	37.21M	9.81M	8.22M	7.15M	4.89M
INDIA Growth	-	40.72%	-	-	-	-46.93%	-73.64%	-16.17%	-13.00%	-31.59%
JAPAN	93.2M	59M	-	-	35.5M	21.76M	12.21M	5.84M	5.17M	3.9M
JAPAN Growth	-	-36.70%	-	-	-	-38.71%	-43.90%	-52.15%	-11.59%	-24.47%
CHINA	6.95M	15.46M	-	-	3.15M	2.44M	2.29M	1.86M	1.74M	2.08M
CHINA Growth	-	122.68%	-	-	-	-22.47%	-6.27%	-18.72%	-6.62%	20.12%
Other Countries	24.36M	10.83M	692K	811K	743K	702K	9K	-	-	-
Other Countries Growth	-	-55.57%	-93.61%	17.20%	-8.38%	-5.52%	-98.72%	-	-	-
TAIWAN, PROVINCE OF CHINA	13.33M	6.71M	-	-	6.45M	3.52M	-	-	-	-
TAIWAN, PROVINCE OF CHINA Growth	-	-49.70%	-	-	-	-45.46%	-	-	-	-
J	-	-	45.56M	49.19M	-	-	-	-	-	-
J Growth	-	-	-	7.95%	-	-	-	-	-	-
I	-	-	33.02M	42.35M	-	-	-	-	-	-
I Growth	-	-	-	28.26%	-	-	-	-	-	-
T	-	-	3.22M	3.02M	-	-	-	-	-	-
T Growth	-	-	-	-6.19%	-	-	-	-	-	-
C	-	-	4.02M	2.93M	-	-	-	-	-	-
C Growth	-	-	-	-27.23%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

UTStarcom Holdings Corp. (UTSI) reported $9.8M in revenue for fiscal year 2024. This represents a 97% decrease from $320.6M in 2011.

UTStarcom Holdings Corp. (UTSI) saw revenue decline by 30.9% over the past year.

UTStarcom Holdings Corp. (UTSI) reported a net loss of $6.1M for fiscal year 2024.

Dividend & Returns

UTStarcom Holdings Corp. (UTSI) has a return on equity (ROE) of -9.0%. Negative ROE indicates the company is unprofitable.

UTStarcom Holdings Corp. (UTSI) had negative free cash flow of $6.6M in fiscal year 2024, likely due to heavy capital investments.