UI
Ubiquiti Inc.
Next earnings Aug 20, 2026 (before open) · consensus $4.15 EPS, $876M rev
Last earnings -9.1% on 2026-05-08
$525.38
▼ -3.73%$525.38▲ +31.15%
over 1Y
L $386.76H $1,083.11
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-3.7%
1W-2.9%
1M-10.7%
3M-37.4%
YTD-7.0%
1Y+31.2%
Sell
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 11 analysts
Sell
Cash-rich networking franchise, but 50x earnings prices in a one-year EPS spike right as management flags tariff margin pressure.
P/E (price / FY diluted EPS $11.76) 50.1 · FY2025
The read
Weak on both the fundamentals and the price — little to like at the current level.
On quality, Ubiquiti is exceptional. FY2025 revenue jumped to $2.57B (+33.4%), net income doubled to $712M (+103.4%) and diluted EPS reached $11.76 (+103.1%). It is remarkably capital-light — operating cash flow of $640M against just $12.6M of capex implies roughly $627M of free cash flow — with a 43.4% gross margin, 32.5% operating margin, 106.5% ROE, no long-term debt, and a founder who runs a community-driven model with no traditional sales force. This is the profile of a high-return compounder, not a commodity hardware vendor.
The problem is that the FY2025 surge sits atop three flat-to-down years. Revenue went $1.69B → $1.94B → $1.93B across FY2022-2024 while net income actually fell from $617M (FY2021) to $350M (FY2024). So the doubling in earnings is a sharp reacceleration off a soft base, not the latest point on a steady trend — and the durability of both the +33% growth and the freshly-expanded margin is unproven.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 19, 2026, 8:21 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.90B | $1.69B | $1.94B | $1.93B | $2.57B |
| Gross profit | $912M | $670M | $761M | $740M | $1.12B |
| Operating income | $743M | $462M | $545M | $499M | $836M |
| Net income | $617M | $379M | $408M | $350M | $712M |
| Diluted EPS | $9.78 | $6.13 | $6.74 | $5.79 | $11.76 |
| Net margin | 32.5% | 22.4% | 21.0% | 18.1% | 27.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$31.9B
EV / EBITDA37.2
EV / Sales12.4
EV / FCF50.8
P / FCF50.7
PEG (trailing)0.43
Earnings yield2.2%
FCF yield2.0%
Quality & risk
ROIC (est.)72.0%
Free cash flow$627M
Total debt$250M
Net cash-$99.8M
Altman Z-Score28.54 safe
Piotroski F-Score6/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)0.5%
Shareholder yield0.5%
Shares Δ YoY+0.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Earnings results2026-05-08
Q3 FY26 10-Q: sales growing but tariffs compressing gross margins
- 10-Q Quarterly report2026-05-08
Q3 FY26 10-Q: sales growing but tariffs compressing gross margins
- 8-K Earnings results2026-02-06
Q2 FY26 10-Q: double-digit YoY revenue growth continues
- 10-Q Quarterly report2026-02-06
Q2 FY26 10-Q: double-digit YoY revenue growth continues
- 8-K Delisting notice2025-12-05
NYSE continued-listing notice (low public float) + annual meeting vote results
- 8-K Earnings results2025-11-07
Q1 FY26 10-Q: revenue growth persists; tariff cost risk flagged
- 10-Q Quarterly report2025-11-07
Q1 FY26 10-Q: revenue growth persists; tariff cost risk flagged
- DEF 14A Proxy statement2025-10-24
Annual proxy: director slate & say-on-pay; Pera retains majority control
- 8-K Earnings results2025-08-22
FY25 10-K: revenue $2.57B +33%, net income $712M +103%, long-term debt to $0
Recent filings
all on EDGAR ↗SDFiling2026-05-29open ↗4Period ending 2026-05-132026-05-15open ↗144Filing2026-05-13open ↗8-KPeriod ending 2026-05-082026-05-08open ↗10-QPeriod ending 2026-03-312026-05-08open ↗8-KPeriod ending 2026-02-062026-02-06open ↗10-QPeriod ending 2025-12-312026-02-06open ↗8-KPeriod ending 2025-12-032025-12-05open ↗4Period ending 2025-11-122025-11-14open ↗144Filing2025-11-12open ↗8-KPeriod ending 2025-11-072025-11-07open ↗10-QPeriod ending 2025-09-302025-11-07open ↗
Frequently asked
- Is Ubiquiti Inc. (UI) a buy?
- UI currently carries a Sell rating with 3/5 conviction, derived from its latest SEC filings. Cash-rich networking franchise, but 50x earnings prices in a one-year EPS spike right as management flags tariff margin pressure.
- What is UI's fair value?
- A Modified-Graham model based on UI's SEC fundamentals estimates a fair value of about $446.88. It is an estimate from reported earnings, not a price target.
- Is UI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, UI currently appears fairly valued relative to its SEC-grounded earnings power.
- What is Ubiquiti Inc.'s quality score?
- UI scores 69.71448446940157/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001511737, latest 10-Q filed 2026-05-08) · EODHD · Proprietary analysis · as of 6/20/2026, 12:21:53 AM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.