Ubiquiti Inc. UI

Information TechnologyCommunications & NetworkingUnited States of America

Last close 540.08 USD on Nov 2, 2026, −2.0% year to date

Quant rating

Quant rating A Rank 35 of 389 in Information Technology

Growth B 77 of 389
Valuation C 189 of 389
Quality A 2 of 389
Revisions B 91 of 389
Momentum C 231 of 389

Wall Street consensus Hold (3.00)Average target 734.50 USD +36.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 32.7B
Enterprise value: 32.1B
52-week range: 501.20 – 1,099.99
3-year range: 104.97 – 1,099.99
Dividend yield: 0.71%
Beta (5 years): 1.34
Shares outstanding: 60.5M
Next earnings: Nov 5, 2026

About the company

Ubiquiti Inc. is engaged in developing technology platforms for distributed Internet access, unified information technology, and consumer electronics for professional, home and personal use. Its solutions are categorized into three categories: high performance networking technology for enterprises, service providers and consumers. It targets the enterprise and service provider markets through its highly engaged community of service providers, distributors, value-added resellers, Webstores, systems integrators and corporate information technology (IT) professionals. It offers a portfolio of networking products and solutions for operator-owners of wireless Internet services (WISP’s), enterprises and smart homes. Its enterprise product platforms provide wireless LAN (WLAN) infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other complimentary WLAN products, along with a software platform.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	3,274	2,574	1,928	1,941	1,692	–
Revenue growth	27.2%	33.4%	−0.6%	14.7%	−10.9%	11.5%
EPS (basic, normalized)	15.95	10.96	5.87	6.80	6.16	–
EPS growth	45.5%	86.7%	−13.7%	10.4%	–	–
Gross margin	46.2%	43.4%	38.4%	39.2%	39.6%	41.3%
Net margin	29.3%	27.7%	18.1%	21.0%	22.4%	23.7%
ROE	91.1%	186.5%	–	–	–	138.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	611
Current ratio	2.93x
Long-term debt (mil)	0
Net debt (mil)	−611
Total equity (mil)	1,440
Net debt / equity	−0.42x
Net debt / EBITDA	−0.50x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	3,274	+27.2%	9.8x	1,212	+55.6%	26.5x	15.95	+45.5%	33.9x
2027	3,810	+16.4%	8.4x	1,338	+10.4%	24.0x	18.91	+18.6%	28.6x
2028	4,271	+12.1%	7.5x	1,480	+10.6%	21.7x	21.60	+14.2%	25.0x
2029	4,331	+1.4%	7.4x	1,626	+9.9%	19.7x	21.50	−0.5%	25.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	3,810	0.0%	+5.1%	−1.0%	18.91	0.0%	+9.8%	−0.1%
2028	4,271	0.0%	+7.8%	−2.7%	21.60	0.0%	+12.5%	+2.4%
2029	4,331	0.0%	–	–	21.50	0.0%	–	–

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	493	507	550	600	664	759	734	815	788	937
Sales mean (mil)	480	512	523	511	598	634	639	727	814	850
Surprise	+2.8%	−0.8%	+5.2%	+17.5%	+11.1%	+19.7%	+14.9%	+12.1%	−3.2%	+10.2%
EPS reported	1.28	1.74	2.14	2.28	3.00	3.54	3.46	3.88	3.88	4.73
EPS mean	1.56	1.73	1.63	2.14	1.97	2.23	2.92	3.08	4.29	4.03
Surprise	−17.9%	+0.6%	+31.3%	+6.5%	+52.3%	+58.7%	+18.3%	+26.1%	−9.6%	+17.3%

Peer comparison Communications & Networking

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
UI Ubiquiti Inc.	32.7B	−0.50x	29.3%	22.70x	28.6x	25.0x	24.0x	21.7x
CSCO Cisco Systems Inc	400.0B	0.55x	21.0%	7.97x	19.9x	18.2x	14.8x	13.7x
ANET Arista Networks, Inc.	207.0B	−3.05x	39.0%	13.99x	39.9x	31.5x	31.0x	24.1x
MSI Motorola Solutions Inc	80.6B	2.24x	18.4%	30.18x	27.5x	25.5x	19.7x	18.6x
LITE Lumentum Holdings Inc.	62.0B	−1.07x	−230.1%	13.06x	30.6x	18.8x	22.1x	13.1x
CIEN Ciena Corporation	40.3B	0.95x	2.6%	13.20x	40.1x	24.2x	28.5x	17.7x
Mean		−0.15x	−20.0%	16.85x	31.1x	23.9x	23.3x	18.1x
Median		0.02x	19.7%	13.59x	29.6x	24.6x	23.0x	18.2x

Technical analysis

1M−13.0%
3M−2.8%
1Y−31.0%
3Y+346.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Ubiquiti Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	3,274	2,574	1,928	1,941	1,692	1,898
Cost of revenue	1,763	1,456	1,189	1,180	1,022	986
Gross profit	1,511	1,117	740	761	670	912
Selling, general & administrative expenses	122	111	81.0	71.0	69.9	53.5
Research & development	204	170	160	145	138	116
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	1,185	836	499	545	462	743
Net interest income (expense)	−2.4	−30.6	−75.2	−58.2	−17.8	−14.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	1,183	806	424	486	444	728
Provision for taxes	223	93.7	73.9	78.7	65.8	111
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	960	712	350	408	379	617
Extraordinary items	–	–	–	–	–	–
Net income	960	712	350	408	379	617
EBIT, normalized	1,185	836	499	545	462	743
EBITDA, normalized	1,204	858	518	561	476	755
Basic EPS, normalized	15.95	10.96	5.87	6.80	6.16	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Ubiquiti Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	611	150	126	115	137	251
Receivables	302	245	169	168	120	172
Total inventory	780	675	462	737	262	234
Prepaid expenses	68.0	55.6	35.0	22.0	13.2	17.3
Other current assets	73.2	48.2	123	125	89.7	20.0
Total current assets	1,834	1,173	916	1,167	622	694
Property, plant & equipment	152	118	129	144	144	119
Goodwill	–	–	–	–	–	–
Intangibles	1.7	2.6	4.2	5.7	7.2	8.7
Long-term investments	–	–	–	–	0	1.0
Note receivable	–	–	–	–	–	–
Other long-term assets	210	172	105	89.3	71.4	68.0
Total assets	2,198	1,466	1,154	1,406	845	891
Liabilities
Accounts payable	432	165	51.1	154	83.7	112
Payable/accrued	–	–	–	–	–	–
Accrued expenses	80.7	69.3	59.6	53.8	67.6	40.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0	250	36.5	36.5	23.9	23.9
Other current liabilities	114	227	138	107	136	99.5
Total current liabilities	627	711	285	352	311	276
Long-term debt	0	0	670	1,041	763	467
Minority interest	–	–	–	–	–	–
Other liabilities	131	87.3	105	129	154	145
Total liabilities	758	798	1,059	1,522	1,228	888
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	22.4	17.1	10.6	4.7	0.7	0
Retained earnings (accumulated deficit)	1,418	651	84.4	−121	−383	2.6
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	−0.5	0
Total equity	1,440	668	95.1	−116	−383	2.7
Total liabilities & shareholders' equity	2,198	1,466	1,154	1,406	845	891

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Ubiquiti Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	960	712	350	408	379	617
Depreciation, depletion & amortization	18.9	21.9	19.3	16.3	13.7	12.1
Deferred taxes	−35.9	−72.2	−12.0	−16.9	−1.8	−0.7
Non-cash items	18.8	37.7	52.2	17.7	17.8	16.3
Changes in working capital	−33.5	−59.4	132	−570	−38.1	−32.3
Cash from operations	929	640	542	−145	370	612
Investing activities
Capital expenditures	−19.7	−12.6	−12.0	−20.9	−13.5	−18.3
Other investing cash flows	−89.3	0	0	0	2.3	−0.9
Cash from investing	−109	−12.6	−12.0	−20.9	−11.2	−19.3
Financing activities
Financing cash flow items	−3.1	−0.8	−0.4	−1.9	−1.2	−4.3
Cash dividends paid	−194	−145	−145	−145	−148	−101
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−250	−458	−372	292	−323	−381
Cash from financing	−447	−604	−518	145	−472	−486
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	373	23.4	11.5	−21.4	−113	107
Free cash flow	909	627	530	−166	357	594

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.