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Ubiquiti Inc.

UI· NYSE· Radio & Tv Broadcasting & Communications Equipment

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
27.8%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+11.5%
We record prices for the companies we cover; UI is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2026

Market cap
–
Enterprise value
–
Diluted shares
60.6M
Revenue
$3.3B
Free cash flow
$908.9M
Owner earnings
$901.5M

Valuation · FY2026

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2026

Gross
46.2%
Operating
36.2%
Net
29.3%
Free cash flow
27.8%
Owner earnings
27.5%
Stock pay
0.2%

Returns

ROIC, FY2026
–
ROIC, 5 yr avg
–
ROE, FY2026
66.7%
ROE, 5 yr avg
–

Growth (CAGR)

Revenue, 3 yr
19.0%
Revenue, 5 yr
11.5%
Revenue, 9 yr
15.9%
Diluted EPS, 3 yr
33.0%
Diluted EPS, 5 yr
10.1%
Diluted EPS, 9 yr
19.9%
Free cash flow, 3 yr
–
Free cash flow, 5 yr
8.9%
Free cash flow, 9 yr
27.1%

Financial health · FY2026

Cash and investments
$611.2M
Total debt
–
Net cash
–
Debt/Equity
–
Debt/FCF
–

Shareholder returns · FY2026

Dividend yield
–
Payout ratio
20.2%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-0.8%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$3.3B

+15.9% a year over 9 years

FY2017: Revenue $865.3MFY2018: Revenue $1.0BFY2019: Revenue $1.2BFY2020: Revenue $1.3BFY2021: Revenue $1.9BFY2022: Revenue $1.7BFY2023: Revenue $1.9BFY2024: Revenue $1.9BFY2025: Revenue $2.6BFY2026: Revenue $3.3B
FY2017FY2026

Margins

Gross46.2%Operating36.2%Net29.3%

FY2026

FY2017: Gross 45.7%, Operating 33.5%, Net 29.8%FY2018: Gross 43.6%, Operating 32.1%, Net 19.3%FY2019: Gross 46.3%, Operating 33.9%, Net 27.8%FY2020: Gross 47.3%, Operating 37.2%, Net 29.6%FY2021: Gross 48.1%, Operating 39.1%, Net 32.5%FY2022: Gross 39.6%, Operating 27.3%, Net 22.4%FY2023: Gross 39.2%, Operating 28.1%, Net 21.0%FY2024: Gross 38.4%, Operating 25.9%, Net 18.1%FY2025: Gross 43.4%, Operating 32.5%, Net 27.7%FY2026: Gross 46.2%, Operating 36.2%, Net 29.3%
FY2017FY2026

Free cash flow and owner earnings

Free cash flow$908.9MOwner earnings$901.5M

Free cash flow +27.1% a year

FY2017: Free cash flow $104.8M, Owner earnings $102.0MFY2018: Free cash flow $322.9M, Owner earnings $319.7MFY2019: Free cash flow $207.6M, Owner earnings $204.7MFY2020: Free cash flow $429.7M, Owner earnings $426.8MFY2021: Free cash flow $593.7M, Owner earnings $590.7MFY2022: Free cash flow $356.8M, Owner earnings $353.3MFY2023: Free cash flow -$166.4M, Owner earnings -$171.1MFY2024: Free cash flow $529.5M, Owner earnings $523.2MFY2025: Free cash flow $627.4M, Owner earnings $620.2MFY2026: Free cash flow $908.9M, Owner earnings $901.5M
FY2017FY2026

Diluted shares

60.6M

-27.2% over 9 years, net buybacks

FY2017: Diluted shares 83.3MFY2018: Diluted shares 78.3MFY2019: Diluted shares 71.6MFY2020: Diluted shares 65.5MFY2021: Diluted shares 63.1MFY2022: Diluted shares 61.7MFY2023: Diluted shares 60.5MFY2024: Diluted shares 60.5MFY2025: Diluted shares 60.5MFY2026: Diluted shares 60.6M
FY2017FY2026

Return on invested capital

–

FY2026

FY2017: ROIC 103.0%FY2018: ROIC 152.3%FY2019: ROIC 116.4%FY2020: ROIC 189.2%FY2021: ROIC 259.1%FY2022: ROIC 147.5%FY2023: ROIC 53.9%FY2024: ROIC 61.0%FY2025: ROIC 96.2%FY2026: ROIC –
FY2017FY2026

Net debt (below zero)

–

$99.8M more debt than cash

FY2017: Net cash $347.6MFY2018: Net cash $181.9MFY2019: Net cash -$187.4MFY2020: Net cash -$509.0MFY2021: Net cash -$240.2MFY2022: Net cash -$649.8MFY2023: Net cash -$963.0MFY2024: Net cash -$580.0MFY2025: Net cash -$99.8MFY2026: Net cash –
FY2017FY2026

Every figure, year by year

Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
The business
Revenue$865.3M$1.0B$1.2B$1.3B$1.9B$1.7B$1.9B$1.9B$2.6B$3.3B
Revenue growth29.8%17.5%14.2%10.6%47.8%-10.9%14.7%-0.6%33.4%27.2%
Gross margin45.7%43.6%46.3%47.3%48.1%39.6%39.2%38.4%43.4%46.2%
Operating margin33.5%32.1%33.9%37.2%39.1%27.3%28.1%25.9%32.5%36.2%
Net income$257.5M$196.3M$322.7M$380.3M$616.6M$378.7M$407.6M$350.0M$711.9M$960.3M
Net margin29.8%19.3%27.8%29.6%32.5%22.4%21.0%18.1%27.7%29.3%
Diluted EPS$3.09$2.51$4.51$5.80$9.78$6.13$6.74$5.79$11.76$15.85
Return on invested capital?103.0%152.3%116.4%189.2%259.1%147.5%53.9%61.0%96.2%–
Cash
Operating cash flow$112.0M$332.0M$259.3M$460.3M$612.0M$370.3M-$145.4M$541.5M$640.0M$928.7M
Capital expenditure$7.2M$9.1M$51.7M$30.6M$18.3M$13.5M$20.9M$12.0M$12.6M$19.7M
Free cash flow$104.8M$322.9M$207.6M$429.7M$593.7M$356.8M-$166.4M$529.5M$627.4M$908.9M
Stock-based compensation$2.8M$3.2M$2.9M$2.9M$3.0M$3.5M$4.7M$6.4M$7.2M$7.4M
Owner earnings?$102.0M$319.7M$204.7M$426.8M$590.7M$353.3M-$171.1M$523.2M$620.2M$901.5M
Free cash flow per share$1.26$4.12$2.90$6.56$9.42$5.78$-2.75$8.76$10.37$15.01
Capital allocation
Dividends paid$0$0$71.4M$78.7M$100.8M$148.1M$145.0M$145.1M$145.2M$193.6M
Share repurchases$105.2M$445.0M$468.2M$700.1M$219.8M$618.1M$0$0––
Diluted shares83.3M78.3M71.6M65.5M63.1M61.7M60.5M60.5M60.5M60.6M
Share count change?-3.0%-5.9%-8.6%-8.5%-3.8%-2.1%-2.1%0.0%0.1%0.1%
Balance sheet
Cash and equivalents$604.2M$666.7M$238.1M$142.6M$249.4M$136.2M$114.8M$126.3M$149.7M$522.6M
Short-term investments–$0$69.9M$925.0K$1.3M$427.0K$109.0K$0$0$88.6M
Total debt$256.6M$484.8M$495.4M$652.5M$490.9M$786.5M$1.1B$706.4M$249.6M–
Net debt-$347.6M-$181.9M$187.4M$509.0M$240.2M$649.8M$963.0M$580.0M$99.8M–
Shareholders' equity$601.8M$315.7M$99.3M-$295.5M$2.7M-$382.9M-$115.7M$95.1M$668.3M$1.4B

Latest filings

All on EDGAR
2026-10-23DEF 14AProxy statement
2026-08-2110-KAnnual report
2026-08-218-KEarnings release
2026-05-0810-QQuarterly report
2026-05-088-KEarnings release
2026-02-068-KEarnings release
2026-02-0610-QQuarterly report
2025-11-0710-QQuarterly report
2025-11-078-KEarnings release
2025-10-24DEF 14AProxy statement

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