UFP Technologies (UFPT)
Market Price (6/17/2026): $231.7 | Market Cap: $1.8 BilSector: Health Care | Industry: Health Care Equipment
UFP Technologies (UFPT)
Market Price (6/17/2026): $231.7Market Cap: $1.8 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Low stock price volatilityVol 12M is 43% Megatrend and thematic driversMegatrends include Advanced Materials, Healthcare Innovation, and Circular Economy & Recycling. Themes include Specialty Chemicals for Performance, Show more. | Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -36% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 22x, P/EPrice/Earnings or Price/(Net Income) is 26x Key risksUFPT key risks include [1] its heavy dependency on key customers, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Advanced Materials, Healthcare Innovation, and Circular Economy & Recycling. Themes include Specialty Chemicals for Performance, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -36% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 22x, P/EPrice/Earnings or Price/(Net Income) is 26x |
| Key risksUFPT key risks include [1] its heavy dependency on key customers, Show more. |
Qualitative Assessment
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UFP Technologies (UFPT) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strong fiscal Q1 2026 Adjusted EPS Beat.
UFP Technologies reported its fiscal Q1 2026 (ended March 31, 2026) adjusted diluted earnings per share (EPS) of $2.48, which surpassed analysts' expectations of $2.28 by 8.77%. This earnings beat contributed to a significant positive market reaction, with UFPT shares gaining 10.3% the day following the announcement on May 5, 2026.
2. Continued Growth and Strategic Focus on High-Margin MedTech Sector.
The company demonstrated robust performance in its medical market sales, which grew by 5.9% to $143.4 million in fiscal Q1 2026. This growth is a key driver, aligning with UFP Technologies' strategic emphasis on high-margin MedTech segments, which saw increases in robotic surgery, patient surfaces and support, and interventional and surgical areas.
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UFP Technologies (UFPT) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strong fiscal Q1 2026 Adjusted EPS Beat.
UFP Technologies reported its fiscal Q1 2026 (ended March 31, 2026) adjusted diluted earnings per share (EPS) of $2.48, which surpassed analysts' expectations of $2.28 by 8.77%. This earnings beat contributed to a significant positive market reaction, with UFPT shares gaining 10.3% the day following the announcement on May 5, 2026.
2. Continued Growth and Strategic Focus on High-Margin MedTech Sector.
The company demonstrated robust performance in its medical market sales, which grew by 5.9% to $143.4 million in fiscal Q1 2026. This growth is a key driver, aligning with UFP Technologies' strategic emphasis on high-margin MedTech segments, which saw increases in robotic surgery, patient surfaces and support, and interventional and surgical areas.
3. Improved Profitability and Future Capacity Expansion Plans.
UFP Technologies improved its gross margin to 28.8% in fiscal Q1 2026, up from 28.5% in the same period last year. Additionally, adjusted EBITDA increased to $31.0 million from $30.2 million in fiscal Q1 2025. Management also highlighted plans to add two new facilities in the Dominican Republic in fiscal Q2 2026 to meet forecasted demand, signaling future growth potential and increased capacity in its medical device business.
4. Positive Long-Term Outlook and Financial Targets.
In updated investor presentation materials released in June 2026, UFP Technologies outlined a strong financial profile, including a 3.4x revenue growth from $179 million in 2020 to $603 million in 2025. The company also set ambitious long-term financial targets, aiming for 12-18% annual revenue growth and 28-31% gross margins over the next 3-5 years, reinforcing investor confidence in its strategic direction.
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Stock Movement Drivers
Fundamental Drivers
The 10.3% change in UFPT stock from 2/28/2026 to 6/16/2026 was primarily driven by a 9.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6162026 | Change |
|---|---|---|---|
| Stock Price ($) | 210.58 | 232.20 | 10.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 603 | 609 | 1.0% |
| Net Income Margin (%) | 11.3% | 11.3% | -0.5% |
| P/E Multiple | 23.8 | 26.1 | 9.9% |
| Shares Outstanding (Mil) | 8 | 8 | -0.1% |
| Cumulative Contribution | 10.3% |
Market Drivers
2/28/2026 to 6/16/2026| Return | Correlation | |
|---|---|---|
| UFPT | 10.3% | |
| Market (SPY) | 9.7% | 43.9% |
| Sector (XLV) | -4.1% | 43.8% |
Fundamental Drivers
The 2.4% change in UFPT stock from 11/30/2025 to 6/16/2026 was primarily driven by a 1.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6162026 | Change |
|---|---|---|---|
| Stock Price ($) | 226.69 | 232.20 | 2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 598 | 609 | 1.8% |
| Net Income Margin (%) | 11.2% | 11.3% | 0.4% |
| P/E Multiple | 26.0 | 26.1 | 0.3% |
| Shares Outstanding (Mil) | 8 | 8 | -0.1% |
| Cumulative Contribution | 2.4% |
Market Drivers
11/30/2025 to 6/16/2026| Return | Correlation | |
|---|---|---|
| UFPT | 2.4% | |
| Market (SPY) | 10.4% | 37.0% |
| Sector (XLV) | -2.2% | 37.6% |
Fundamental Drivers
The -0.9% change in UFPT stock from 5/31/2025 to 6/16/2026 was primarily driven by a -7.9% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6162026 | Change |
|---|---|---|---|
| Stock Price ($) | 234.20 | 232.20 | -0.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 548 | 609 | 11.2% |
| Net Income Margin (%) | 11.6% | 11.3% | -2.8% |
| P/E Multiple | 28.4 | 26.1 | -7.9% |
| Shares Outstanding (Mil) | 8 | 8 | -0.4% |
| Cumulative Contribution | -0.9% |
Market Drivers
5/31/2025 to 6/16/2026| Return | Correlation | |
|---|---|---|
| UFPT | -0.9% | |
| Market (SPY) | 28.8% | 29.8% |
| Sector (XLV) | 17.4% | 39.9% |
Fundamental Drivers
The 50.2% change in UFPT stock from 5/31/2023 to 6/16/2026 was primarily driven by a 60.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6162026 | Change |
|---|---|---|---|
| Stock Price ($) | 154.63 | 232.20 | 50.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 380 | 609 | 60.1% |
| Net Income Margin (%) | 12.3% | 11.3% | -8.2% |
| P/E Multiple | 25.2 | 26.1 | 3.9% |
| Shares Outstanding (Mil) | 8 | 8 | -1.7% |
| Cumulative Contribution | 50.2% |
Market Drivers
5/31/2023 to 6/16/2026| Return | Correlation | |
|---|---|---|
| UFPT | 50.2% | |
| Market (SPY) | 86.6% | 35.9% |
| Sector (XLV) | 25.8% | 29.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| UFPT Return | 51% | 68% | 46% | 42% | -9% | 5% | 401% |
| Peers Return | 19% | -15% | 19% | 3% | -10% | 11% | 25% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| UFPT Win Rate | 83% | 67% | 67% | 58% | 42% | 50% | |
| Peers Win Rate | 67% | 38% | 54% | 49% | 48% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| UFPT Max Drawdown | -15% | -24% | -33% | -33% | -35% | -31% | |
| Peers Max Drawdown | -17% | -35% | -24% | -21% | -33% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ITGR, WST, SOLV, AMCR, SON.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/16/2026 (YTD)
How Low Can It Go
| Event | UFPT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.2% | -18.8% |
| % Gain to Breakeven | 39.4% | 23.1% |
| Time to Breakeven | 285 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.2% | -9.5% |
| % Gain to Breakeven | 43.3% | 10.5% |
| Time to Breakeven | 98 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -19.0% | -24.5% |
| % Gain to Breakeven | 23.5% | 32.4% |
| Time to Breakeven | 29 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.3% | -33.7% |
| % Gain to Breakeven | 64.7% | 50.9% |
| Time to Breakeven | 295 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.5% | -19.2% |
| % Gain to Breakeven | 36.1% | 23.8% |
| Time to Breakeven | 168 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.6% | -3.7% |
| % Gain to Breakeven | 15.7% | 3.9% |
| Time to Breakeven | 77 days | 6 days |
In The Past
UFP Technologies's stock fell -28.2% during the 2025 US Tariff Shock. Such a loss loss requires a 39.4% gain to breakeven.
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| Event | UFPT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.2% | -18.8% |
| % Gain to Breakeven | 39.4% | 23.1% |
| Time to Breakeven | 285 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -30.2% | -9.5% |
| % Gain to Breakeven | 43.3% | 10.5% |
| Time to Breakeven | 98 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.3% | -33.7% |
| % Gain to Breakeven | 64.7% | 50.9% |
| Time to Breakeven | 295 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.5% | -19.2% |
| % Gain to Breakeven | 36.1% | 23.8% |
| Time to Breakeven | 168 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -29.1% | -17.9% |
| % Gain to Breakeven | 41.0% | 21.8% |
| Time to Breakeven | 170 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -23.1% | -15.4% |
| % Gain to Breakeven | 30.1% | 18.2% |
| Time to Breakeven | 114 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -58.6% | -53.4% |
| % Gain to Breakeven | 141.5% | 114.4% |
| Time to Breakeven | 359 days | 1085 days |
In The Past
UFP Technologies's stock fell -28.2% during the 2025 US Tariff Shock. Such a loss loss requires a 39.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About UFP Technologies (UFPT)
UFP Technologies, Inc. (UFPT) is a custom manufacturer and designer of specialized components, subassemblies, products, and packaging. The company leverages advanced materials such as foams, films, and plastics to create its offerings. Its primary focus is the medical market, where it develops single-use and single-patient devices and components integral to various applications, including disposable wound care products, infection prevention solutions, minimally invasive surgery tools, wearables, orthopedic soft goods, and specialized packaging for orthopedic implants.
In addition to its significant presence in the medical sector, UFP Technologies supplies engineered products and components to a diverse array of other markets. These include the automotive industry for interior trim, aerospace and defense for military uniform and gear components, consumer goods such as athletic padding, electronics, and industrial applications like air filtration and protective cases. The company sells its products across the United States primarily through its direct sales force and independent manufacturer representatives.
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Here are 1-2 brief analogies for UFP Technologies (UFPT):
- They're like a highly specialized, custom-engineering version of 3M, focusing on foams, films, and plastics for components and packaging, primarily for medical devices.
- Imagine a B2B supplier of specialized foam and plastic components and packaging, similar to a custom-focused Berry Global for the medical, automotive, and industrial markets.
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- Medical Devices and Components: Custom-manufactured single-use and single-patient devices and components utilized in various medical applications.
- Orthopedic Implant Packaging: Specialized packaging solutions designed for orthopedic implants.
- Engineered Industrial and Consumer Products: Custom-engineered components for diverse markets including automotive, aerospace and defense, consumer, electronics, and industrial applications.
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UFP Technologies, Inc. (UFPT) primarily sells its specialized components, subassemblies, products, and packaging to other companies, making it a business-to-business (B2B) supplier.
Based on the company's financial filings, UFP Technologies has a diverse customer base and does not have any single "major customer" that accounts for 10% or more of its total revenue. For example, in its 2023 annual report (10-K), the company stated that its largest customer accounted for approximately 7% of its sales. Therefore, specific names of major customer companies are not publicly disclosed.
Instead, UFP Technologies serves a broad range of companies across several key industries. Its customer base can be broadly categorized into the following types of manufacturers:
- Medical Device and Healthcare Product Manufacturers: These customers integrate UFP Technologies' components into a wide array of medical devices, disposable wound care products, infection prevention solutions, minimally invasive surgical tools, wearables, orthopedic soft goods, and orthopedic implant packaging.
- Automotive, Aerospace, and Defense Manufacturers: Customers in these sectors utilize engineered products and components for applications such as military uniform and gear components, automotive interior trim, and other specialized parts.
- Consumer, Electronics, and Industrial Product Manufacturers: This diverse group includes companies producing items like athletic padding, environmentally protective packaging, air filtration systems, abrasive nail files, and protective cases and inserts.
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R. Jeffrey Bailly
Chairman and Chief Executive Officer
R. Jeffrey Bailly joined UFP Technologies in 1988, serving in various leadership roles including Division Manager, General Manager Northeast Operations, Vice President of Operations, and President. He was appointed Chief Executive Officer on January 1, 1995, and became Chairman in October 2006. Before joining UFP Technologies, Mr. Bailly was a certified public accountant at Coopers & Lybrand from 1984 to 1988. During his tenure as CEO, the company's revenue grew approximately 20-fold, and profitability and market capitalization increased more than 150-fold. It has been announced that Mr. Bailly will retire as CEO on June 4, 2026, and will serve as Executive Chairman for the following year to facilitate a smooth transition.
Ronald J. Lataille
Sr. Vice President, Treasurer and Chief Financial Officer
Ronald J. Lataille became Chief Financial Officer of UFP Technologies in November 1997. Prior to his role at UFP Technologies, Mr. Lataille served as Vice President, Treasurer, and Chief Financial Officer of Little Switzerland, Inc. from 1991 to October 1997, and also held the interim President and Chief Executive Officer positions at Little Switzerland from October 1994 to October 1995. He began his career as a certified public accountant at Coopers & Lybrand, where he was employed from 1984 to 1991.
Mitchell C. Rock
President
Mitchell C. Rock first joined UFP Technologies in 1991, initially serving as Director of Sales and Marketing for the Molded Fiber division. He also served as Vice President of Sales and Business Development at Esprocket, an internet start-up company, from May 1999 to October 2000. Mr. Rock rejoined UFP Technologies in April 2001 and progressed through various sales and marketing leadership roles, eventually becoming Senior Vice President of Sales and Marketing in June 2014. He was named General Manager, Medical, in January 2020, and was appointed President of MedTech in June 2021, before becoming President of the company in February 2024. Mr. Rock is slated to assume the CEO position upon Mr. Bailly's retirement on June 4, 2026. Additionally, since 2016, he has served on the board of directors for Outlook Amusements, Inc., an entertainment company.
Christopher P. Litterio, Esq.
General Counsel and Sr. Vice President of Human Resources
Christopher P. Litterio joined UFP Technologies in November 2017, becoming its first General Counsel and Senior Vice President of Human Resources. Before his time at UFP Technologies, Mr. Litterio was in private practice at Ruberto, Israel & Weiner, PC, a Boston-based law firm, from 1989 to 2017. His practice focused on complex business litigation and employment law, and he served as the firm's managing partner from 2005 to 2017, and as chair of its litigation department from 2000 to 2005.
Jason Holt
Chief Commercial Officer
Jason Holt joined UFP Technologies in 2018 as General Manager of its Advanced Components business. He was appointed Vice President in June 2021 and was promoted to Chief Commercial Officer in February 2024. Prior to UFP Technologies, from 2004 to 2018, Mr. Holt held multiple leadership positions at Illinois Tool Works, a Fortune 200 company, where he ultimately served as Vice President and General Manager of a business unit with over $100 million in revenue.
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The key risks to UFP Technologies (UFPT) are:
- Customer Concentration: UFP Technologies is significantly dependent on a small number of customers for a large percentage of its net sales. For example, in 2025, two major customers, Intuitive Surgical SARL and Stryker, accounted for approximately 24.3% and 21.5% of the company's net sales, respectively. Furthermore, the top ten customers collectively represented about 68.8% of total net sales in the same year. The loss of any of these key customers, or a substantial reduction in their purchases, could have a material adverse effect on UFP Technologies' business, financial condition, and results of operations.
- High Reliance on the Medical Market and Associated Risks: UFP Technologies heavily relies on the medical device industry, which constituted over 90% of its revenue in the first quarter of 2025. This significant concentration exposes the company to specific risks within this sector. These include potential revenue timing volatility due to delays in OEM validations, regulatory approvals, or platform pushouts for medical programs. Additionally, the company faces risks from changes in healthcare regulations, evolving quality expectations (such as FDA/EMA rule updates), and fluctuations in demand for medical devices, which can increase compliance costs and impact time-to-revenue for new programs.
- Supply Chain and Raw Material Dependence, and Inflationary Pressures: As a custom manufacturer, UFP Technologies depends on the timely and cost-effective availability of specialized foams, films, and plastics. The company faces risks associated with periodic shortages or delays in raw material supplies, which could lead to production losses or delays. Furthermore, inflationary cost pressures on raw materials and labor can adversely affect the company's profitability if these increased costs cannot be passed on to customers in a timely manner. Dynamic tariff policies also pose a threat, potentially leading to increased manufacturing costs and supply chain disruptions.
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UFP Technologies (NASDAQ: UFPT) serves diverse markets with its specialized foam, film, and plastic products. The addressable market sizes for its main products and services are as follows:
- Medical Device Components and Manufacturing: The global medical component manufacturing market was valued at approximately USD 16.12 billion in 2024 and is projected to grow to USD 25.23 billion by 2033. North America held a 38% market share in this sector in 2024. More broadly, the global medical device technologies market was valued at USD 539.14 billion in 2024 and is expected to reach USD 814.95 billion by 2032. North America dominated this market with a 41.5% revenue share in 2024.
- Disposable Wound Care Products: The global disposable wound management products market was valued at around USD 8.1 billion in 2024 and is projected to reach approximately USD 13.5 billion by 2035. North America held the largest share of this market in 2023. For disposable negative pressure wound therapy devices, a segment of wound care, the global market size was estimated at USD 596.22 million in 2025 and is projected to reach USD 1,317.96 million by 2033. North America dominated this segment with a 41.09% revenue share in 2025.
- Infection Prevention Products: The global infection prevention devices market was valued at USD 2.16 billion in 2024 and is projected to reach USD 3.50 billion by 2032. The broader global infection control market was valued at USD 56.73 billion in 2025 and is projected to grow to USD 97.55 billion by 2034. North America accounts for approximately 36% of the global infection control market share.
- Minimally Invasive Surgery Devices: The global minimally invasive surgery devices market is expected to grow from USD 38.9 billion in 2026 to USD 53.33 billion by 2031. In 2025, North America held 42.00% of this market. The global minimally invasive surgical instruments market was estimated at USD 31.65 billion in 2023 and is projected to reach USD 63.04 billion by 2030. North America dominated with a 29.9% share in 2023.
- Orthopedic Implant Packaging: The global medical implants sterile packaging market is expected to be valued at USD 2.7 billion in 2026 and is projected to reach USD 4.7 billion by 2033. North America leads this market with a 40% share in 2025. Another estimate places the global market at USD 4.2 billion in 2023, projected to reach USD 7.8 billion by 2032.
- Automotive Interior Trim Parts: The global automotive interior trim parts market was valued at USD 40.4 billion in 2023 and is projected to grow to USD 61.6 billion by 2032. North America is the largest market for these parts, holding approximately 40% of the global market share. More broadly, the global automotive interior component market is estimated at USD 175.69 billion in 2025 and is expected to reach USD 276.81 billion by 2032. North America is set to lead this market with an estimated 43.7% share in 2025.
- Military Uniform and Gear Components: The global military uniform market was USD 2.91 billion in 2025 and is projected to grow to USD 4.09 billion by 2030. Another source reported the global military uniform market size as USD 16.8 billion in 2025, projected to reach USD 22.4 billion by 2033. The global law enforcement and military clothing market was valued at USD 2.41 billion in 2025 and is projected to grow to USD 3.96 billion by 2034. North America holds the largest share of the military tactical vest market, approximately 35% of the global market.
- Athletic Padding: The global sports protective equipment market was valued at USD 8.7 billion in 2024 and is projected to grow to USD 13.8 billion by 2034. The knee pad market, a component of athletic padding, is valued to increase by USD 1.37 billion (at a CAGR of 5.1%) from 2024 to 2029. North America dominated the knee pad market.
- Industrial Air Filtration: The global industrial air filtration market was estimated at USD 8.41 billion in 2025 and is predicted to increase to USD 15.31 billion by 2035. North America dominated this market with a 43% share in 2025. Other estimates for the global market include USD 7 billion in 2025, projected to USD 10.6 billion by 2034, and USD 37.2 billion in 2025, projected to USD 64.8 billion by 2035.
- Abrasive Nail Files: The global nail files market was valued at approximately USD 1.5 billion in 2023 and is projected to reach USD 2.5 billion by 2032. North America maintains market leadership in this segment. Another source indicates a global market size of approximately USD 650 million in 2024, anticipated to reach USD 980 million by 2033.
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UFP Technologies (NASDAQ: UFPT) is expected to drive future revenue growth over the next two to three years through several key initiatives and market trends, primarily within its medical market segment.
One significant driver is the **continued expansion within the medical market, particularly in patient services, safe patient handling, and robotic surgery programs.** UFP Technologies has made a strategic pivot into medical end-markets, which now represents a substantial portion of its revenue. Management anticipates robust growth in these areas, supported by new program launches in infection prevention and robotic surgery.
Another crucial factor is **strategic capacity expansion and geographic growth.** The company is actively expanding its ISO Class 7/8 cleanroom capacity across key sites from 2024 to 2026 to meet the increasing demand from its MedTech customers. Furthermore, UFP Technologies is expanding its manufacturing capabilities in the Dominican Republic, which is instrumental in supporting its safe patient handling business and facilitating the transfer of additional programs. These investments also include automation and technology upgrades.
Thirdly, **new product launches and innovation** are expected to fuel revenue growth. UFP Technologies is focused on developing and launching new programs, including advanced sterile packaging systems and multi-material assemblies for surgical robotics. The company's ongoing investment in research and development to create proprietary solutions and adapt to evolving market needs is a key component of its growth strategy.
Finally, **successful contract extensions and growing customer commitments** provide a strong foundation for sustained revenue. Management has consistently highlighted new and extended contracts, along with increasing commitments from existing customers, which bolster confidence in the company's long-term revenue trajectory.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- No significant share repurchase programs or dollar amounts of shares repurchased were explicitly detailed in the available information for the last 3-5 years.
Share Issuance
- The number of shares outstanding has slightly increased over the last few years, from 7.53 million in 2021 to 7.71 million in 2025, suggesting minor issuances, likely through employee compensation plans.
Outbound Investments
- UFP Technologies actively pursues an acquisition-led growth strategy, with a goal for acquisitions to be accretive within the first year.
- The company completed 10 acquisitions across four countries through January 2026, with a peak of 5 acquisitions in 2024, 2 in 2021, and 1 in 2025.
- Recent acquisitions include Welch Fluorocarbon, Marble Medical, AJR Enterprises, AQF Limited, and in July 2025, Universal Plastics & Engineering Company, Inc. (UNIPEC) and Techno Plastics Industries, Inc. (TPI) for $4.5 million, enhancing film and thermoplastic molding capabilities.
Capital Expenditures
- Capital expenditures were approximately $5.28 million in 2021, $7.06 million in 2022, $10 million in 2023, $9.63 million in 2024, and $13 million in 2025.
- The company is targeting approximately $1 billion in investments through 2028, with an estimated $300 million to $350 million planned for capital projects in 2025, focusing on automation, technology upgrades, and geographic expansion.
- Significant capital has been allocated to expanding operations in the Dominican Republic, including the completion of a fifth building and negotiations for a sixth, to increase robotic surgery manufacturing capacity.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.93 |
| Mkt Cap | 9.2 |
| Rev LTM | 5,353 |
| Op Inc LTM | 624 |
| FCF LTM | 158 |
| FCF 3Y Avg | 335 |
| CFO LTM | 360 |
| CFO 3Y Avg | 680 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.2% |
| Rev Chg 3Y Avg | 10.4% |
| Rev Chg Q | 2.3% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Inc Chg LTM | 8.8% |
| Op Inc Chg 3Y Avg | 9.5% |
| Op Mgn LTM | 10.6% |
| Op Mgn 3Y Avg | 12.2% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 8.9% |
| CFO/Rev 3Y Avg | 11.5% |
| FCF/Rev LTM | 4.4% |
| FCF/Rev 3Y Avg | 6.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Products | 591 | 491 | 391 | 343 | 201 |
| Engineering services | 7 | 5 | 5 | 5 | 3 |
| Tooling and Machinery | 5 | 8 | 3 | 6 | 2 |
| Total | 603 | 504 | 400 | 354 | 206 |
| $ Mil | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|
| Component products | 12 | 14 | 13 | 11 | 6 |
| Packaging | 6 | 3 | 3 | 3 | 2 |
| Total | 17 | 17 | 16 | 14 | 8 |
| $ Mil | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|
| Packaging | 38 | 31 | 23 | 21 | 34 |
| Unallocated Assets | 37 | 33 | 30 | 24 | |
| Component products | 30 | 35 | 27 | 27 | 25 |
| Total | 105 | 99 | 80 | 72 | 59 |
Price Behavior
| Market Price | $232.20 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 12/17/1993 | |
| Distance from 52W High | -13.2% | |
| 50 Days | 200 Days | |
| DMA Price | $213.44 | $217.56 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 8.8% | 6.7% |
| 3M | 1YR | |
| Volatility | 39.9% | 43.5% |
| Downside Capture | 118.92 | 129.58 |
| Upside Capture | 113.86 | 91.64 |
| Correlation (SPY) | 46.2% | 30.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.62 | 2.41 | 1.44 | 1.38 | 1.15 | 1.15 |
| Up Beta | 5.47 | 3.24 | 2.42 | 2.45 | 2.02 | 1.27 |
| Down Beta | 2.45 | 0.83 | 0.12 | 0.01 | 0.20 | 1.03 |
| Up Capture | 221% | 146% | 119% | 127% | 92% | 115% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 12 | 21 | 29 | 63 | 121 | 388 |
| Down Capture | 102% | 307% | 152% | 153% | 130% | 105% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 20 | 34 | 61 | 128 | 362 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UFPT | |
|---|---|---|---|---|
| UFPT | 1.6% | 43.5% | 0.16 | - |
| Sector ETF (XLV) | 14.4% | 15.0% | 0.69 | 40.3% |
| Equity (SPY) | 27.2% | 12.4% | 1.66 | 29.9% |
| Gold (GLD) | 25.8% | 27.4% | 0.82 | 9.7% |
| Commodities (DBC) | 23.3% | 18.9% | 0.98 | -12.8% |
| Real Estate (VNQ) | 13.6% | 13.5% | 0.69 | 32.0% |
| Bitcoin (BTCUSD) | -37.7% | 42.4% | -1.00 | 8.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UFPT | |
|---|---|---|---|---|
| UFPT | 32.8% | 44.2% | 0.78 | - |
| Sector ETF (XLV) | 6.1% | 14.7% | 0.23 | 29.1% |
| Equity (SPY) | 13.8% | 17.1% | 0.63 | 36.0% |
| Gold (GLD) | 17.6% | 18.2% | 0.78 | 8.0% |
| Commodities (DBC) | 7.8% | 19.4% | 0.30 | 7.6% |
| Real Estate (VNQ) | 2.5% | 18.8% | 0.04 | 30.7% |
| Bitcoin (BTCUSD) | 12.1% | 54.2% | 0.42 | 13.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with UFPT | |
|---|---|---|---|---|
| UFPT | 27.2% | 39.6% | 0.73 | - |
| Sector ETF (XLV) | 9.7% | 16.6% | 0.47 | 31.8% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 38.7% |
| Gold (GLD) | 12.8% | 16.1% | 0.66 | 5.3% |
| Commodities (DBC) | 6.2% | 18.0% | 0.27 | 12.1% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 32.5% |
| Bitcoin (BTCUSD) | 60.7% | 66.8% | 1.00 | 9.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | 10.3% | 15.3% | 13.4% |
| 2/24/2026 | -0.2% | -15.7% | -21.0% |
| 11/3/2025 | 12.1% | 17.8% | 8.6% |
| 8/5/2025 | 6.4% | -5.6% | -10.0% |
| 5/7/2025 | 0.1% | 12.9% | 11.2% |
| 2/25/2025 | -10.5% | -19.2% | -22.8% |
| 11/12/2024 | -8.4% | -15.5% | -21.7% |
| 8/2/2024 | -5.2% | -2.2% | 3.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 15 | 16 |
| # Negative | 11 | 8 | 7 |
| Median Positive | 3.6% | 6.8% | 10.8% |
| Median Negative | -2.2% | -5.0% | -10.0% |
| Max Positive | 12.1% | 17.8% | 26.7% |
| Max Negative | -10.5% | -19.2% | -22.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | 10.3% | 15.3% | 13.4% |
| 2/24/2026 | -0.2% | -15.7% | -21.0% |
| 11/3/2025 | 12.1% | 17.8% | 8.6% |
| 8/5/2025 | 6.4% | -5.6% | -10.0% |
| 5/7/2025 | 0.1% | 12.9% | 11.2% |
| 2/25/2025 | -10.5% | -19.2% | -22.8% |
| 11/12/2024 | -8.4% | -15.5% | -21.7% |
| 8/2/2024 | -5.2% | -2.2% | 3.5% |
| 5/1/2024 | 8.2% | 6.8% | 10.4% |
| 2/26/2024 | 2.4% | 3.0% | 12.1% |
| 11/9/2023 | -2.2% | 9.5% | 26.7% |
| 8/4/2023 | -0.8% | -4.2% | -6.2% |
| 5/2/2023 | 2.5% | 0.2% | 10.3% |
| 3/10/2023 | -0.4% | 0.0% | 15.3% |
| 11/4/2022 | 2.1% | 1.2% | 9.0% |
| 8/3/2022 | -0.4% | 0.9% | 2.6% |
| 5/9/2022 | -3.8% | 0.3% | 5.1% |
| 3/14/2022 | -0.5% | 9.7% | 18.1% |
| 8/5/2021 | 3.3% | -4.4% | 4.8% |
| 5/4/2021 | 8.2% | 11.9% | 15.5% |
| 3/8/2021 | -2.8% | 1.0% | -1.0% |
| 11/3/2020 | 2.2% | 17.7% | 12.9% |
| 8/5/2020 | 3.9% | -0.4% | -5.2% |
| SUMMARY STATS | |||
| # Positive | 12 | 15 | 16 |
| # Negative | 11 | 8 | 7 |
| Median Positive | 3.6% | 6.8% | 10.8% |
| Median Negative | -2.2% | -5.0% | -10.0% |
| Max Positive | 12.1% | 17.8% | 26.7% |
| Max Negative | -10.5% | -19.2% | -22.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/14/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/12/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/13/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/09/2019 | 10-Q |
Insider Activity
Updated 6/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Feldmann, Cynthia L | Direct | Sell | 6152026 | 239.29 | 1,200 | 287,149 | 1,310,357 | Form | |
| 2 | Croteau, Daniel C | Direct | Sell | 5132026 | 221.71 | 2,864 | 634,977 | 189,562 | Form | |
| 3 | Holt, Jason | Vice President | Direct | Sell | 12122025 | 213.58 | 100 | 21,358 | 1,639,867 | Form |
| 4 | Litterio, Christopher P | Senior Vice President | Direct | Sell | 11122025 | 227.20 | 1,829 | 415,550 | 2,443,768 | Form |
| 5 | Croteau, Daniel C | Direct | Sell | 9082025 | 206.02 | 2,873 | 591,883 | 176,143 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Feldmann, Cynthia L | Direct | Sell | 6152026 | 239.29 | 1,200 | 287,149 | 1,310,357 | Form | |
| 2 | Croteau, Daniel C | Direct | Sell | 5132026 | 221.71 | 2,864 | 634,977 | 189,562 | Form | |
| 3 | Holt, Jason | Vice President | Direct | Sell | 12122025 | 213.58 | 100 | 21,358 | 1,639,867 | Form |
| 4 | Litterio, Christopher P | Senior Vice President | Direct | Sell | 11122025 | 227.20 | 1,829 | 415,550 | 2,443,768 | Form |
| 5 | Croteau, Daniel C | Direct | Sell | 9082025 | 206.02 | 2,873 | 591,883 | 176,143 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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