Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $666M | $865M | $1.02B | $1.16B | $1.28B | $1.90B | $1.69B | $1.94B | $1.93B | $2.57B |
| Revenue growth | — | 29.8% | 17.5% | 14.2% | 10.6% | 47.8% | -10.9% | 14.7% | -0.6% | 33.4% |
| Gross profit | $325M | $396M | $444M | $538M | $608M | $912M | $670M | $761M | $740M | $1.12B |
| Gross margin | 48.7% | 45.7% | 43.6% | 46.3% | 47.3% | 48.1% | 39.6% | 39.2% | 38.4% | 43.4% |
| Operating income | $242M | $290M | $326M | $394M | $478M | $743M | $462M | $545M | $499M | $836M |
| Operating margin | 36.3% | 33.5% | 32.1% | 33.9% | 37.2% | 39.1% | 27.3% | 28.1% | 25.9% | 32.5% |
| Net income | $214M | $258M | $196M | $323M | $380M | $617M | $379M | $408M | $350M | $712M |
| Net margin | 32.1% | 29.8% | 19.3% | 27.8% | 29.6% | 32.5% | 22.4% | 21.0% | 18.1% | 27.7% |
| EPS (diluted) | $2.49 | $3.09 | $2.51 | $4.51 | $5.80 | $9.78 | $6.13 | $6.74 | $5.79 | $11.76 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $198M | $112M | $332M | $259M | $460M | $612M | $370M | -$145M | $542M | $640M |
| Capital expenditures | $6.25M | $7.23M | $9.12M | $51.7M | $30.6M | $18.3M | $13.5M | $20.9M | $12.0M | $12.6M |
| Free cash flow | $191M | $105M | $323M | $208M | $430M | $594M | $357M | -$166M | $530M | $627M |
| Share buybacks | $194M | $105M | $445M | $468M | $700M | $220M | $618M | $0.00 | $0.00 | — |
| Dividends paid | $0.00 | $0.00 | $0.00 | $71.4M | $78.7M | $101M | $148M | $145M | $145M | $145M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $551M | $604M | $667M | $238M | $143M | $249M | $136M | $115M | $126M | $150M |
| Total assets | $747M | $973M | $1.02B | $876M | $737M | $891M | $845M | $1.41B | $1.15B | $1.47B |
| Total liabilities | $307M | $371M | $707M | $777M | $1.03B | $888M | $1.23B | $1.52B | $1.06B | $798M |
| Long-term debt | $192M | $242M | $460M | $465M | $628M | $467M | $763M | $1.04B | $670M | $0.00 |
| Shareholders' equity | $440M | $602M | $316M | $99.3M | -$295M | $2.70M | -$383M | -$116M | $95.1M | $668M |
| Retained earnings | $440M | $601M | $315M | $98.8M | -$296M | $2.63M | -$383M | -$121M | $84.4M | $651M |
| Shares (wtd avg diluted) | 85.8M | 83.3M | 78.3M | 71.6M | 65.5M | 63.1M | 61.7M | 60.5M | 60.5M | 60.5M |
Every figure is extracted from Ubiquiti Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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