Ucloudlink Group Inc. key statistics and ratios

In fiscal 2025, Ucloudlink Group Inc. had return on equity of 25.0%, an operating margin of 9.8%, debt equal to 25.1% of equity and a current ratio of 1.67. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ucloudlink Group Inc.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	36.5%	41.0%	31.6%	29.6%	45.5%	49.0%	48.4%	52.4%
Operating margin	−18.3%	3.5%	−70.3%	−62.2%	−26.9%	3.0%	4.8%	9.8%
Net margin	−21.0%	3.3%	−70.8%	−62.4%	−27.8%	3.3%	5.0%	7.7%
Free-cash-flow margin	−19.0%	1.9%	−3.7%	−30.5%	5.6%	5.2%	5.7%	2.8%
Return on equity	−160.0%	28.9%	−167.2%	−120.4%	−135.1%	22.2%	24.2%	25.0%
Return on assets	—	5.8%	−67.7%	−56.0%	−35.1%	5.5%	7.5%	9.5%
Asset turnover	—	1.76	0.96	0.90	1.26	1.67	1.51	1.23
Current ratio	—	1.79	1.77	1.05	1.13	1.25	1.32	1.67
Debt to equity	—	34.2%	6.6%	15.8%	31.0%	33.0%	32.2%	25.1%
Interest cover (operating income ÷ interest)	n/m	12.6x	n/m	n/m	n/m	19.5x	22.4x	40.6x
Effective tax rate	—	1.1%	—	—	—	2.8%	1.5%	19.5%
R&D as % of revenue	16.1%	9.5%	29.4%	18.6%	11.8%	7.5%	6.8%	6.0%
Capital spending as % of revenue	3.6%	1.7%	1.4%	1.1%	0.6%	2.4%	4.4%	1.1%
Free cash flow ÷ net income	—	57.8%	—	—	—	158.0%	113.8%	36.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 6 checks passed · December 31, 2025

What it owns · $68m

Short-term assets $61mLonger-term assets $7m

What it owes, and who funded it · $68m

Short-term liabilities $37mLonger-term liabilities $2mShareholders' equity $29m

Short-term assets cover short-term liabilities $61m of assets due within a year against $37m of liabilities due within a year.
Short-term assets cover long-term liabilities $61m short-term assets against $2m of longer-dated liabilities.
More cash than debt $33m of cash against $2m of debt.
Debt below 40% of shareholders' equity Debt is 6% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $3m of operating cash flow against $2m of debt.
Operating profit covers interest at least five times over Operating income of $8m against $196,000 of interest.

From Ucloudlink Group Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Ucloudlink Group Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Ucloudlink Group Inc.