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Ubiquiti Inc. (UI) stock

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NYSE: UI NYSE Communications Equipment Next results ~November 6, 2026

B+ Fundamentals grade

Ubiquiti Inc. is a US-listed company in the communications equipment industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$650

Cash-flow model

Base case. Range ~$500–$850 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 17% below our base value.

Price used: $540.08, November 2, 2026

Ubiquiti Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds161 adding, 224 cuttingOf 39 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ubiquiti files

Where Ubiquiti stands after its latest 10-K

Revenue for the twelve months to June 2026 was $3.27bn, up 27.2% on a year earlier, slower than 33.3% a quarter earlier. That growth ranks 110 of 931 among all the companies we cover. Free-cash-flow margin rose to 27.8% from 24.4% a year earlier. Operating margin widened to 36.2% from 32.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $652 a share, against a share price of $603. At that price, our model says the market is pricing in about 18.6% a year of cash-flow growth for five years, faster than the 11.5% a year revenue growth it has delivered.

Source: 10-K filed August 21, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 6, 2026 (estimated)

Ubiquiti Inc.'s trailing-twelve-month revenue grew 27.2% year on year, with a free-cash-flow margin of 27.8%. Where it stands out: operating margin of 36.2% ranks 2 of 40 communications equipment companies we cover. Where it lags: change in growth rate of -6.1pp ranks 36 of 40 communications equipment companies we cover.

Our discounted-cash-flow model values the business at ~$650 per share in the base case (~$500–$850 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 27.2% (-6.1pp vs the prior quarter), the 2nd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $540.08 is 21% below our value per share of $650.
  • Fast growth. Revenue grew 27.2% over the last 12 months, against a median of 11.3% for communications equipment companies we cover.
  • High operating margin. 36.2% of revenue is left as operating profit, against a median of 2.4% for communications equipment companies we cover.
  • Margins widening. Operating margin is up 3.7 points on a year ago.
  • Strong cash generation. 27.8% of revenue turned into free cash flow, against a median of 8.2% for communications equipment companies we cover.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 6.1 points lower than a quarter earlier.
  • Volatile shares. Over the past year the shares showed annualised volatility of 53% and a beta of 1.7 against the S&P 500.

Latest results: FY2026 Q4

Filed August 21, 2026
Earnings per share
$4.73 against an average estimate of $4.03: beat by 17.3%
Revenue
$937m, up 23.5% on a year earlier
Share reaction
-3.6% in the first session after the results on August 21, 2026, against +0.1% for the S&P 500
Next report
November 6, 2026; average EPS estimate $4.25

Ubiquiti's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.2%
  • 1 week-7.6%
  • 1 month-13.0%
  • This year-2.0%
  • 1 year-31.0%
  • 5 years+73.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.3B
Operating margin
36.2%
Net margin
29.3%
EPS (TTM, diluted)
$15.85

Growth

Revenue growth
+27.2%
Change in growth rate
−6.1 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
$909M
FCF margin
27.8%
Stock pay % of revenue
0.2%

Earnings

Last results
August 21, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ubiquiti Inc. valuation models and calculator

What the price is pricing in

The share price implies about 16.5% a year of cash-flow growth for five years.That is faster than the 11.5% a year revenue growth Ubiquiti has delivered.

  • Priced in16.5%
  • Last 12 months27.2%
  • 3 years a year19.0%
  • 5 years a year11.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($543.82, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$650
Price used
$543.82close November 3, 2026
Implied change
▲ +20%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Ubiquiti Inc.'s free cash flow after stock-based pay with after-tax interest added back ($861M, FY2026 Q4 TTM), growing 20.9% and 19.3% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$500–~$850 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Ubiquiti Inc.'s free cash flow after stock-based pay ( $861M, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Ubiquiti Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.34 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$650 ~$500–$850 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$370 ~$300–$630 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$100–$130 Left out: far from the other models (more than 3x away from their median)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$560 ~$370–$650 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ubiquiti Inc. with Communications Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +14%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $215$288$385$514$681$897
8.5% $166$220$290$382$501$654
10% $137$179$233$303$393$510

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$35.86$48.21$78.59$123.08$164.72$296.47$237.83$170.03$143.48$408.77$533.14
Market value$3.1bn$4.0bn$6.2bn$8.8bn$10.8bn$18.7bn$14.7bn$10.3bn$8.7bn$24.7bn$32.3bn
+ Net debt (− = net cash)−$337m−$332m−$155m$290m$536m$268m$650m$1.0bn$618m$350m−$475m
Enterprise value$2.7bn$3.7bn$6.0bn$9.1bn$11.3bn$19.0bn$15.3bn$11.3bn$9.3bn$25.1bn$31.8bn
Multiples
Price / sales 4.6x4.6x6.1x7.6x8.4x9.8x8.7x5.3x4.5x9.6x9.9x
Price / earnings 14.4x15.6x31.4x27.3x28.4x30.3x38.8x25.2x24.8x34.8x33.6x
Price / free cash flow 16.1x38.3x19.1x42.5x25.1x31.5x41.1x—16.4x39.4x35.5x
EV / EBITDA 11.0x12.4x18.0x22.7x23.3x25.1x32.2x20.1x17.9x29.2x26.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

86 /100

Strong moat

How hard Ubiquiti's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 63.1% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 44.7%, moving by 3.4 percentage points (standard deviation) across 10 years.

  • Durability 20 / 20

    Operating margin has been a median 33.0%; its worst year was 25.9%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 9 of 10 years, at a median 25.9% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 3.9% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (91 before it).

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

Forecasts and guidance

Next results: November 6, 2026, before the open. Analysts expect revenue of $977m and EPS of $4.25 (range $4.25 to $4.25) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $17.71 +11% $4.0bn +22%
Next $19.58 +11% $4.6bn +15%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.8% on 90 days ago. In the last 30 days, 1 analyst raised Ubiquiti Inc.'s forecast and 0 cut it.

Consensus EPS forecast Ubiquiti Inc., last 90 days
$17.20 $17.40 $17.60 $17.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $17.23 Current fiscal year, 60 days ago: $17.23 Current fiscal year, 30 days ago: $17.23 Current fiscal year, 7 days ago: $17.23 Current fiscal year, Now: $17.71 $17.71

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal year
90 days ago $17.23
60 days ago $17.23
30 days ago $17.23
7 days ago $17.23
Now $17.71

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $4.03 $4.73 +17.3%
Mar 2026 $4.29 $3.88 −9.5%
Dec 2025 $3.08 $3.88 +26.1%
Sept 2025 $2.92 $3.46 +18.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 21, 2026

No numeric guidance in Ubiquiti Inc.'s latest earnings release (filed August 21, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Ubiquiti Inc.'s revenue by +20.9% next year and +19.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+22.1%, weight 45%) and the company's own record (+20.0%, weight 55%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy150%
Hold00%
Sell150%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112

Counts of recommendations published by analysts covering Ubiquiti Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
3.17
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
5%
of shares
Held by insiders
93.0%
of shares
Employees
1,818
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −31.0%

$782.86 on October 31, 2025 to $540.08

ThenNowEffect
Revenue (last 12 months) $2.6bn $3.3bn +27.2%
Net margin 27.7% 29.3% +6.0%
P/E multiple 66.6x 34.1x −48.8%
Share count 61m 61m −0.1%

Biggest factor: p/e multiple.

Last 3 years +423.1%

$103.24 on November 3, 2023 to $540.08

ThenNowEffect
Revenue (last 12 months) $1.9bn $3.3bn +68.7%
Net margin 21.0% 29.3% +39.6%
P/E multiple 15.3x 34.1x +122.5%
Share count 60m 61m −0.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
UI+11%−10%−48%+141%+68%−2%
Industry peers (median)+18%−18%−12%+23%+1%−6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
UI67%33%42%58%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
UI−32%−28%−65%−24%−37%−52%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 72% from March 26, 2021 to November 9, 2023. Getting back needed a 260% gain, reached on January 14, 2025, 432 days after the low.

Price behaviour

52-week range
$513.35 – $1081.30
From 52-week high
−50.1%
vs 50-day average
−8.3%
vs 200-day average
−18.2%
Volatility (1 year)
53%
Beta vs S&P 500
1.71

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±18.2%
After a week
8 up, 4 down
typical move ±20.4%
After a month
7 up, 5 down
typical move ±25.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 21, 2026 −3.6% +0.1% +4.4% +1.4%
May 8, 2026 −20.3% +1.1% −32.7% −39.1%
February 6, 2026 +23.7% +2.4% +25.0% +33.8%
November 7, 2025 −22.4% +1.7% −26.5% −23.0%
August 22, 2025 +33.1% +1.1% +35.2% +68.1%
May 9, 2025 +22.9% +3.2% +23.5% +14.7%
February 7, 2025 −14.0% −0.2% −20.1% −29.0%
November 8, 2024 +30.3% +0.5% +28.3% +27.6%
August 23, 2024 +16.5% +0.8% +9.6% +24.9%
May 10, 2024 +15.7% +0.1% +26.0% +25.6%
February 9, 2024 +1.1% +0.5% +0.2% −8.4%
November 3, 2023 −14.6% +1.1% −13.3% −10.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ubiquiti Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ubiquiti Inc.
$1.5B $2B $2.5B $3B $3.5B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $1.9B Revenue (TTM), FY24 Q2: $1.9B Revenue (TTM), FY24 Q3: $1.9B Revenue (TTM), FY24 Q4: $1.9B Revenue (TTM), FY25 Q1: $2B Revenue (TTM), FY25 Q2: $2.2B Revenue (TTM), FY25 Q3: $2.3B Revenue (TTM), FY25 Q4: $2.6B Revenue (TTM), FY26 Q1: $2.8B Revenue (TTM), FY26 Q2: $3B Revenue (TTM), FY26 Q3: $3.1B Revenue (TTM), FY26 Q4: $3.3B $3.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $1.9B
FY24 Q2 $1.9B
FY24 Q3 $1.9B
FY24 Q4 $1.9B
FY25 Q1 $2B
FY25 Q2 $2.2B
FY25 Q3 $2.3B
FY25 Q4 $2.6B
FY26 Q1 $2.8B
FY26 Q2 $3B
FY26 Q3 $3.1B
FY26 Q4 $3.3B
Revenue growth, TTM YoY Ubiquiti Inc.
-10% 0% 10% 20% 30% 40% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 10.1% Revenue growth, TTM YoY, FY24 Q2: 4.7% Revenue growth, TTM YoY, FY24 Q3: 1.0% Revenue growth, TTM YoY, FY24 Q4: -0.6% Revenue growth, TTM YoY, FY25 Q1: 5.8% Revenue growth, TTM YoY, FY25 Q2: 14.6% Revenue growth, TTM YoY, FY25 Q3: 21.4% Revenue growth, TTM YoY, FY25 Q4: 33.4% Revenue growth, TTM YoY, FY26 Q1: 36.8% Revenue growth, TTM YoY, FY26 Q2: 38.2% Revenue growth, TTM YoY, FY26 Q3: 33.3% Revenue growth, TTM YoY, FY26 Q4: 27.2% 27.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 10.1%
FY24 Q2 4.7%
FY24 Q3 1.0%
FY24 Q4 -0.6%
FY25 Q1 5.8%
FY25 Q2 14.6%
FY25 Q3 21.4%
FY25 Q4 33.4%
FY26 Q1 36.8%
FY26 Q2 38.2%
FY26 Q3 33.3%
FY26 Q4 27.2%
Operating margin (TTM) Ubiquiti Inc.
25% 30% 35% 40% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 28.9% Operating margin (TTM), FY24 Q2: 28.1% Operating margin (TTM), FY24 Q3: 26.4% Operating margin (TTM), FY24 Q4: 25.9% Operating margin (TTM), FY25 Q1: 26.8% Operating margin (TTM), FY25 Q2: 27.8% Operating margin (TTM), FY25 Q3: 30.7% Operating margin (TTM), FY25 Q4: 32.5% Operating margin (TTM), FY26 Q1: 33.7% Operating margin (TTM), FY26 Q2: 35.1% Operating margin (TTM), FY26 Q3: 35.8% Operating margin (TTM), FY26 Q4: 36.2% 36.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 28.9%
FY24 Q2 28.1%
FY24 Q3 26.4%
FY24 Q4 25.9%
FY25 Q1 26.8%
FY25 Q2 27.8%
FY25 Q3 30.7%
FY25 Q4 32.5%
FY26 Q1 33.7%
FY26 Q2 35.1%
FY26 Q3 35.8%
FY26 Q4 36.2%
FCF margin (TTM) Ubiquiti Inc.
-20% 0% 20% 40% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: -7.1% FCF margin (TTM), FY24 Q2: -0.8% FCF margin (TTM), FY24 Q3: 16.2% FCF margin (TTM), FY24 Q4: 27.5% FCF margin (TTM), FY25 Q1: 34.5% FCF margin (TTM), FY25 Q2: 35.9% FCF margin (TTM), FY25 Q3: 31.5% FCF margin (TTM), FY25 Q4: 24.4% FCF margin (TTM), FY26 Q1: 21.4% FCF margin (TTM), FY26 Q2: 23.5% FCF margin (TTM), FY26 Q3: 23.9% FCF margin (TTM), FY26 Q4: 27.8% 27.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -7.1%
FY24 Q2 -0.8%
FY24 Q3 16.2%
FY24 Q4 27.5%
FY25 Q1 34.5%
FY25 Q2 35.9%
FY25 Q3 31.5%
FY25 Q4 24.4%
FY26 Q1 21.4%
FY26 Q2 23.5%
FY26 Q3 23.9%
FY26 Q4 27.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Ubiquiti took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3.3B
  2. Cost of revenue $1.8B · 53.8%
  3. Gross profit $1.5B · 46.2%
  4. Research and development $204M · 6.2%
  5. Selling, general and admin $122M · 3.7%
  6. Operating income $1.2B · 36.2%
  7. Income tax $223M · 6.8%
  8. Net income $960M · 29.3%

Shares of revenue. Source: Ubiquiti's 10-K for FY2026, as filed with the SEC.

Financial statements

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

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 137 198 354 321 572 596 666 865 1,017 1,162 1,285 1,898 1,692 1,941 1,928 2,574 3,274
Gross profit 55 81 151 135 253 262 325 396 444 538 608 912 670 761 740 1,117 1,511
EBITDA 5 62 126 95 199 152 248 297 333 402 486 755 476 561 518 858 1,204
Operating income 5 62 125 93 196 147 242 290 326 394 478 743 462 545 499 836 1,185
Net income −5 50 103 80 177 130 214 258 196 323 380 617 379 408 350 712 960
Diluted EPS −$0.08 $0.07 −$0.12 $0.89 $1.97 $1.45 $2.49 $3.09 $2.51 $4.51 $5.80 $9.78 $6.13 $6.74 $5.79 $11.76 $15.85
Growth (year on year)
Revenue — +44.5% +78.7% −9.2% +78.4% +4.1% +11.8% +29.8% +17.5% +14.2% +10.6% +47.8% −10.9% +14.7% −0.6% +33.4% +27.2%
EBITDA — +>999% +102.1% −24.9% +110.2% −23.6% +63.4% +19.7% +12.3% +20.5% +20.9% +55.3% −36.9% +17.8% −7.6% +65.6% +40.3%
Operating income — +>999% +101.8% −26.1% +111.6% −25.0% +64.8% +19.7% +12.6% +20.9% +21.3% +55.3% −37.7% +17.8% −8.4% +67.6% +41.8%
Net income — — +106.3% −21.5% +119.8% −26.7% +64.7% +20.5% −23.8% +64.4% +17.9% +62.1% −38.6% +7.7% −14.2% +103.4% +34.9%
Diluted EPS — — −271.4% — +121.3% −26.4% +71.7% +24.1% −18.8% +79.7% +28.6% +68.6% −37.3% +10.0% −14.1% +103.1% +34.8%
Margins
Gross margin 39.8% 40.8% 42.7% 42.2% 44.3% 44.0% 48.7% 45.7% 43.6% 46.3% 47.3% 48.1% 39.6% 39.2% 38.4% 43.4% 46.2%
EBITDA margin 3.5% 31.5% 35.6% 29.5% 34.7% 25.5% 37.2% 34.3% 32.8% 34.6% 37.8% 39.8% 28.1% 28.9% 26.9% 33.3% 36.8%
Operating margin 3.4% 31.4% 35.4% 28.9% 34.2% 24.6% 36.3% 33.5% 32.1% 33.9% 37.2% 39.1% 27.3% 28.1% 25.9% 32.5% 36.2%
Net margin −4.0% 25.1% 29.0% 25.1% 30.9% 21.8% 32.1% 29.8% 19.3% 27.8% 29.6% 32.5% 22.4% 21.0% 18.1% 27.7% 29.3%
Free-cash-flow margin −19.4% 31.5% 22.2% 39.4% 20.5% 20.4% 28.7% 12.1% 31.8% 17.9% 33.5% 31.3% 21.1% −8.6% 27.5% 24.4% 27.8%
Cash flow
Cash from operations −26 63 82 132 121 135 198 112 332 259 460 612 370 −145 542 640 929
Capital spending 1 0 3 5 4 13 6 7 9 52 31 18 13 21 12 13 20
Free cash flow −27 62 78 127 117 122 191 105 323 208 430 594 357 −166 530 627 909
Stock-based pay 0 1 1 3 5 5 4 3 3 3 3 3 4 5 6 7 7
Free cash flow after stock pay −27 61 77 123 112 117 188 102 320 205 427 591 353 −171 523 620 902
Balance sheet
Cash 28 76 122 228 347 446 551 604 667 238 143 249 136 115 126 150 523
Total debt 0 0 30 81 72 108 214 272 512 528 679 518 786 1,117 745 500 48
Net debt (negative = net cash) −28 −76 −92 −147 −275 −339 −337 −332 −155 290 536 268 650 1,002 618 350 −475
Diluted shares 89m 67m 83m 90m 90m 90m 86m 83m 78m 72m 66m 63m 62m 60m 60m 61m 61m
Returned to shareholders
Dividends — 0 0 16 0 15 0 0 0 71 79 101 148 145 145 145 194
Buybacks 1 7 — — — — 194 105 445 468 700 220 618 0 0 — —
Total returned 1 7 0 16 0 15 194 105 445 540 779 321 766 145 145 145 194

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $2.2bn
Short-term assets $1.8bnLonger-term assets $364m
What it owes, and who funded it · $2.2bn
Short-term liabilities $627mLonger-term liabilities $131mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $627m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.8bn short-term assets against $131m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • 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 Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Ubiquiti 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.

Dividends, buybacks and capital spending

Dividends (TTM)
$194M
Diluted share count
+0.1%
year over year
Total shareholder yield
0.6%
dividends 0.6% + buybacks 0.0% of market value
Dividend payout ratio
20%
of net income paid out
R&D spending
6.2%
of revenue
Sales & admin spending
3.7%
of revenue
Days sales outstanding
34 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in communications equipment
Last 12 months unless stated UI FFIV LITE VSAT CIEN EXTR Median
Revenue, last 12 months $3.3bn $3.3bn $3.0bn $4.6bn $6.0bn $1.3bn $324m
Revenue growth, last 12 months 27.2% 9.4% 83.2% 1.3% 32.6% 11.3% 11.0%
Revenue growth, 3-year average 19.0% 5.7% 19.5% 18.8% 12.5% −1.3% 4.1%
Revenue growth, latest quarter 23.5% 10.9% 109.3% −1.2% 37.0% 9.9% 12.9%
Gross margin 46.2% 81.9% 41.7% — 44.1% 61.9% 43.7%
Operating margin 36.2% 24.5% 17.4% 2.4% 12.3% 5.7% 2.2%
Operating margin, 3-year average 31.5% 24.1% −8.5% −5.7% 7.5% −0.6% −1.4%
Net margin 29.3% 22.0% −230.1% −0.6% 10.9% 4.0% −0.0%
Cash from operations / revenue 28.4% 31.7% 24.9% 34.4% 17.5% 13.9% 9.9%
Free-cash-flow margin 27.8% 29.3% 10.0% 12.5% 13.5% 11.8% 7.7%
Free-cash-flow margin, 3-year average 26.5% 28.6% −1.5% 2.2% 11.3% 5.9% 2.2%
Stock pay / revenue 0.2% 7.6% 5.4% 2.1% 3.5% 6.7% 3.9%
Change in share count 0.1% −1.7% 21.8% 4.9% 0.1% 1.2% 1.5%

Median of all 40 companies we cover in communications equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 communications equipment companies
Measure Company Peer median Rank
Revenue growth Growth 27.2% 11.3% 11 of 40
Change in growth rate Growth -6.1pp +2.0pp 36 of 40
Gross margin Profitability 46.2% 44.1% 17 of 36
Operating margin Profitability 36.2% 2.4% 2 of 40
Net margin Profitability 29.3% 0.6% 3 of 40
Free-cash-flow margin Cash generation 27.8% 8.2% 4 of 38
Stock pay as % of revenue Cash generation 0.2% 3.9% 2 of 37
Long-term debt as % of assets Balance sheet 3.0% 10.4% 9 of 23
Change in share count Balance sheet 0.1% 1.6% 12 of 36
Days sales outstanding Balance sheet 34 days 75 days 5 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue Share YoY
Enterprise Technology $3B 90.8% ▲ 31.9%
Service Provider Technology $302M 9.2% ▼ 5.5%
Geography
Region Revenue YoY
North America $1.7B ▲ 34.6%
United States $1.6B ▲ 31.5%
EMEA $1.2B ▲ 18.0%
Asia Pacific $220M ▲ 30.4%
South America $131M ▲ 19.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Ubiquiti Inc.'s 10-K filed August 21, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.6B
Institutions reporting
355
Shares held vs prior quarter
▲ 8.7%
Positions opened / closed
59 / 84

Top buyers and sellers, Q2 2026: 161 institutions bought and 224 sold ; the biggest buyer was Millennium Management LLC (+65K shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−92K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $163M 305K 10.3% ▲ 3.6%
Renaissance Technologies LLC $106M 198K 6.7% ▼ 9.4%
Sw Investment Management LLC $74.8M 140K 4.7% ▼ 1.8%
Capital World Investors $60.8M 114K 3.8% ▲ 5.8%
State Street Corp $54.3M 102K 3.4% ▲ 19.0%
Arrowstreet Capital, Limited Partnership $48.8M 91K 3.1% ▼ 50.2%
Geode Capital Management, LLC $39.5M 74K 2.5% ▼ 1.9%
Goldman Sachs Group Inc $37.1M 70K 2.3% ▼ 9.7%
Morgan Stanley $36.8M 69K 2.3% ▼ 11.5%
AQR Capital Management LLC $36M 67K 2.3% ▼ 47.8%
Invesco Ltd. $35.3M 66K 2.2% ▲ 423.2%
Millennium Management LLC $34.7M 65K 2.2% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ubiquiti Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $542,068 2 trades by 1 insider · 0% under pre-set plans
Net ▼ $542,068 net selling
Insider Date Trade Shares Price Value
Radigan Kevin CHIEF ACCOUNTING OFFICER May 13, 2026 Sell 500 $680.53 $340,265
Radigan Kevin CHIEF ACCOUNTING OFFICER November 12, 2025 Sell 350 $576.58 $201,803

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

No trades in Ubiquiti Inc. disclosed in the last 12 months; 5 earlier trades on record.

  • Lois Frankel(D-FL 22):Sale (full), $1,001 - $15,000, traded May 3, 2023, filed May 19, 2023
  • Lois Frankel(D-FL 22):Sale (partial), $1,001 - $15,000, traded April 19, 2023, filed May 19, 2023
  • Lois Frankel(D-FL 21):Sale (partial), $1,001 - $15,000, traded September 21, 2022, filed October 24, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 21, 2026
  • May 8, 2026
  • February 6, 2026
  • November 7, 2025
  • August 22, 2025
  • May 9, 2025

Recent SEC filings

Data status

When each part of this page on Ubiquiti Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ubiquiti Inc. in brief

What does Ubiquiti Inc. do?
Ubiquiti Inc. is a US-listed company in the communications equipment industry. Its financial year ends in June.
What is Ubiquiti Inc.'s stock ticker?
Ubiquiti Inc. trades under the ticker UI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ubiquiti Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ubiquiti Inc. reported revenue of $3.3B, 27.2% higher than a year earlier, according to its SEC filings.
What is Ubiquiti Inc.'s free cash flow?
Ubiquiti Inc.'s free-cash-flow margin is 27.8% of revenue over the trailing twelve months, ranking 4 of the 38 communications equipment companies we cover.
What is Ubiquiti Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Ubiquiti Inc.'s free cash flow after stock-based pay gives ~$650 per share in the base case, and ~$500–$850 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Ubiquiti Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Renaissance Technologies LLC and Sw Investment Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Ubiquiti Inc.'s market cap?
On June 30, 2026, Ubiquiti Inc.'s market capitalisation was about $32.3B, with a price-to-earnings ratio of 33.6 and net debt of -$475M. Market figures come from third-party market data and may be delayed.
Does Ubiquiti Inc. pay a dividend?
Yes: Ubiquiti Inc. paid $194M in dividends over the trailing twelve months, a dividend yield of 0.59% and a payout ratio of 20.2%.
Who are Ubiquiti Inc.'s competitors?
In our Communications Equipment peer group, the companies closest to Ubiquiti Inc. are F5, Inc., Lumentum, Viasat Inc, Ciena and Extreme Networks Inc. The side-by-side comparison below sets their revenue, margins and growth against Ubiquiti Inc.'s.
Are insiders buying or selling Ubiquiti Inc. stock?
Over the last 12 months, Ubiquiti Inc.'s directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Ubiquiti Inc.'s next earnings date?
Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ubiquiti Inc. announces its own schedule.