Tearsheet

Ubiquiti (UI)


Market Price (4/1/2026): $822.05 | Market Cap: $49.7 Bil
Sector: Information Technology | Industry: Communications Equipment

Ubiquiti (UI)


Market Price (4/1/2026): $822.05
Market Cap: $49.7 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 38%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%

Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, Cybersecurity, and Smart Buildings & Proptech. Themes include Network Equipment, Show more.

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 67x

Stock price has recently run up significantly
12M Rtn12 month market price return is 156%

Key risks
UI key risks include [1] significant supply chain disruptions causing product shortages that threaten its core cost-effective pricing strategy, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 38%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 35%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
3 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, Cybersecurity, and Smart Buildings & Proptech. Themes include Network Equipment, Show more.
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 67x
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 156%
6 Key risks
UI key risks include [1] significant supply chain disruptions causing product shortages that threaten its core cost-effective pricing strategy, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Ubiquiti (UI) stock has gained about 45% since 12/31/2025 because of the following key factors:

1. Exceptional Q1 and Q2 Fiscal 2026 Earnings Performance.

Ubiquiti significantly surpassed analyst expectations for both earnings per share (EPS) and revenue in its fiscal first and second quarters of 2026. For Q1 Fiscal 2026 (reported November 2025), the company reported GAAP EPS of $3.43 and non-GAAP EPS of $3.46, exceeding analyst forecasts of $2.92. In Q2 Fiscal 2026 (reported February 2026), Ubiquiti posted an EPS of $3.88, handily beating the consensus estimate of $3.08 by $0.80.

2. Substantial Revenue Growth Driven by Enterprise Technology.

The company demonstrated robust year-over-year revenue growth during the period. Revenues for Q1 Fiscal 2026 increased by 33.3% to $733.8 million, and Q2 Fiscal 2026 saw a record revenue of $814.9 million, representing a 35.8% year-over-year increase and surpassing analyst expectations of $716.95 million. This growth was largely driven by the strong performance of its Enterprise Technology segment, which experienced a 40.7% year-over-year increase in Q2 Fiscal 2026.

Show more

Stock Movement Drivers

Fundamental Drivers

The 43.0% change in UI stock from 12/31/2025 to 3/31/2026 was primarily driven by a 27.4% change in the company's P/E Multiple.
(LTM values as of)123120253312026Change
Stock Price ($)552.74790.2943.0%
Change Contribution By: 
Total Revenues ($ Mil)2,7572,9727.8%
Net Income Margin (%)28.7%29.9%4.1%
P/E Multiple42.253.827.4%
Shares Outstanding (Mil)60600.0%
Cumulative Contribution43.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 3/31/2026
ReturnCorrelation
UI43.0% 
Market (SPY)-5.4%42.4%
Sector (XLK)-7.7%53.9%

Fundamental Drivers

The 19.9% change in UI stock from 9/30/2025 to 3/31/2026 was primarily driven by a 15.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)93020253312026Change
Stock Price ($)658.90790.2919.9%
Change Contribution By: 
Total Revenues ($ Mil)2,5742,97215.5%
Net Income Margin (%)27.7%29.9%8.1%
P/E Multiple56.053.8-3.9%
Shares Outstanding (Mil)60600.0%
Cumulative Contribution19.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 3/31/2026
ReturnCorrelation
UI19.9% 
Market (SPY)-2.9%40.7%
Sector (XLK)-5.6%47.5%

Fundamental Drivers

The 156.2% change in UI stock from 3/31/2025 to 3/31/2026 was primarily driven by a 44.5% change in the company's Net Income Margin (%).
(LTM values as of)33120253312026Change
Stock Price ($)308.46790.29156.2%
Change Contribution By: 
Total Revenues ($ Mil)2,1512,97238.2%
Net Income Margin (%)20.7%29.9%44.5%
P/E Multiple41.953.828.3%
Shares Outstanding (Mil)60600.0%
Cumulative Contribution156.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 3/31/2026
ReturnCorrelation
UI156.2% 
Market (SPY)16.3%44.2%
Sector (XLK)29.3%46.8%

Fundamental Drivers

The 200.8% change in UI stock from 3/31/2023 to 3/31/2026 was primarily driven by a 65.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120233312026Change
Stock Price ($)262.74790.29200.8%
Change Contribution By: 
Total Revenues ($ Mil)1,7932,97265.8%
Net Income Margin (%)19.4%29.9%53.9%
P/E Multiple45.653.818.0%
Shares Outstanding (Mil)6060-0.1%
Cumulative Contribution200.8%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 3/31/2026
ReturnCorrelation
UI200.8% 
Market (SPY)63.3%40.8%
Sector (XLK)79.5%38.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
UI Return11%-10%-48%141%68%33%179%
Peers Return52%-16%8%13%90%10%227%
S&P 500 Return27%-19%24%23%16%-7%69%

Monthly Win Rates [3]
UI Win Rate67%33%42%58%67%33% 
Peers Win Rate65%35%50%52%67%60% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
UI Max Drawdown-13%-28%-61%-24%-17%-2% 
Peers Max Drawdown-3%-29%-34%-32%-19%-4% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VSAT, ADTN, VISN, CSCO, ANET. See UI Returns vs. Peers.
[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 3/31/2026 (YTD)

How Low Can It Go

Unique KeyEventUIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-72.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven268.4%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven432 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-40.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven67.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven144 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-36.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven58.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven73 days120 days

Compare to VSAT, ADTN, VISN, CSCO, ANET

In The Past

Ubiquiti's stock fell -72.9% during the 2022 Inflation Shock from a high on 3/26/2021. A -72.9% loss requires a 268.4% gain to breakeven.

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About Ubiquiti (UI)

Ubiquiti Inc. develops networking technology for service providers, enterprises, and consumers. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as consumer products under the Ubiquiti Labs brand name. The company also provides technology platforms, such as airMAX, which include proprietary protocols that contain technologies for minimizing signal noise; EdgeMAX, a software and system routing platform; airFiber, a point-to-point radio system; and UFiber GPON, a plug and play fiber network technology to build high speed fiber internet networks. In addition, it offers UniFi -Enterprise WLAN, an enterprise Wi-Fi system that allows for on-site and remote management through the cloud; UniFi Protect, a video surveillance system, which provides statistical reporting and advanced analytics; UniFi Switch that deliver performance, switching, and power of Ethernet support for enterprise networks; UniFi Console, an enterprise class router and security gateway device; and UniFi Access, a door access system. Further, offers base stations, radios, backhaul equipment, and customer premise equipment; embedded radio products; antennas; and mounting brackets, cables, and power over Ethernet adapters. It serves customers through a network of approximately 100 distributors, online retailers, and direct to customers worldwide. The company was formerly known as Ubiquiti Networks, Inc. and changed its name to Ubiquiti Inc. in August 2019. Ubiquiti Inc. was incorporated in 2003 and is headquartered in New York, New York.

AI Analysis | Feedback

Ubiquiti is like Cisco for the budget-conscious business, offering enterprise-grade networking and IT infrastructure at a lower cost.

Think of Ubiquiti as Cisco Meraki but more affordable, providing integrated, centrally managed networking, surveillance, and access control for smaller businesses.

AI Analysis | Feedback

  • airMAX: A technology platform utilizing proprietary protocols for wireless systems to minimize signal noise.
  • EdgeMAX: A software and system platform providing robust routing solutions.
  • airFiber: A point-to-point radio system engineered for high-performance wireless backhaul.
  • UFiber GPON: A plug-and-play fiber network technology for building high-speed fiber internet networks.
  • UniFi - Enterprise WLAN: An enterprise Wi-Fi system offering on-site and remote cloud-managed wireless local area network infrastructure.
  • UniFi Protect: A video surveillance system that includes statistical reporting and and advanced analytics.
  • UniFi Switch: Network switches providing performance, switching, and Power over Ethernet (PoE) support for enterprise networks.
  • UniFi Console: An enterprise-class device functioning as a router and security gateway for network management.
  • UniFi Access: A door access control system designed for secure entry management.
  • Ubiquiti Labs Consumer Products: Consumer electronics developed for professional, home, and personal use.

AI Analysis | Feedback

Ubiquiti (symbol: UI) develops and sells networking technology to a diverse customer base. Based on the provided background information, the company serves both businesses and individual consumers. While the background text does not provide specific names of major customer companies, it clearly identifies the categories of customers that utilize its technology platforms.

Ubiquiti primarily sells to the following categories of customers:

  • Service Providers: These are companies that leverage Ubiquiti's carrier-class network infrastructure, fixed wireless broadband, wireless backhaul systems, and routing platforms (such as airMAX, EdgeMAX, airFiber, and UFiber GPON) to deliver internet access and other network services to their own clientele.
  • Enterprises and Businesses: This category encompasses organizations and businesses of various sizes that deploy Ubiquiti's solutions for their internal networking needs, including wireless LAN infrastructure (UniFi -Enterprise WLAN), video surveillance (UniFi Protect), switching and routing solutions (UniFi Switch, UniFi Console), security gateways, and door access systems (UniFi Access).
  • Consumers and Prosumers: This segment includes individuals and small-scale professional users who purchase products under the Ubiquiti Labs brand name for professional, home, and personal use.

Ubiquiti distributes its products globally through a network of approximately 100 distributors, online retailers, and direct sales channels, who then serve these identified end-customer segments.

AI Analysis | Feedback

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AI Analysis | Feedback

Robert J. Pera, Chief Executive Officer and Chairman of the Board

Mr. Pera founded Ubiquiti Inc. in October 2003, with the company beginning current operations in 2005. He has served as the Chief Executive Officer and a member of the Board since the company's inception, and as its Chairman of the Board since December 2012. Prior to founding Ubiquiti, Mr. Pera worked as a wireless engineer at Apple, Inc. from January 2003 to February 2005. He started Ubiquiti using $30,000 of personal savings and credit card debt. Mr. Pera holds a B.A. in Japanese Language, a B.S. in Electrical Engineering, and an M.S. in Electrical Engineering (Digital Communications/RF Circuit Design) from the University of California, San Diego. He owns 93% of the publicly traded firm. In October 2012, Pera also became the owner of the NBA's Memphis Grizzlies.

Kevin Radigan, Chief Accounting and Finance Officer

Mr. Radigan has served as Ubiquiti's Chief Accounting and Finance Officer since May 2016. Before joining Ubiquiti, he served as the Chief Financial Officer of American Medical Alert Corp (dba Tunstall Americas) from 2012 to 2016. He holds a B.S. in Accountancy from Long Island University.

Hartley Nisenbaum, Executive Vice President of Operations & Legal Affairs

Mr. Nisenbaum serves as the Executive Vice President of Operations and Legal Affairs at Ubiquiti.

Dr. John R. Sanford, Chief Technology Officer

Dr. Sanford has been the Chief Technology Officer of Ubiquiti Networks, Inc. since May 2010.

Laura Kiernan, Senior Vice President of Investor Relations

Ms. Kiernan serves as the Senior Vice President of Investor Relations for Ubiquiti.

AI Analysis | Feedback

The key risks to Ubiquiti Inc.'s (UI) business operations are:

  1. Supply Chain Volatility and Geopolitical Tensions: Ubiquiti faces significant risks from disruptions in its global supply chain, including component shortages (such as chipsets) and pricing inflation. The company relies on a limited number of contract manufacturers, primarily located in Vietnam and China, making it vulnerable to manufacturing capacity issues and component availability. Geopolitical factors, such as U.S. tariffs on imports, ongoing trade tensions, and escalating conflicts (e.g., between China and Taiwan), directly impact the cost of goods sold and can pressure gross margins.

  2. Competitive Pressure: Ubiquiti operates in a highly competitive market against established players like Cisco, HPE, Netgear, and TP-Link. Competitors are increasingly investing in advanced solutions such as AIOps (Artificial Intelligence for IT Operations) and offering bundled subscriptions, which could challenge Ubiquiti's strategy of low-cost operations and a no-subscription pricing model. Maintaining market share requires continuous innovation and competitive pricing.

  3. Regulatory Scrutiny, Reputational, and Legal Risks: Ubiquiti is exposed to increased regulatory scrutiny, particularly concerning data privacy. Furthermore, the company faces significant legal and reputational risks. A recent investigation by Scott+Scott Attorneys at Law LLP into potential breaches of fiduciary duties by Ubiquiti's directors and officers could lead to class-action lawsuits, substantial financial penalties, and erosion of investor confidence. Additionally, the association of Ubiquiti's equipment with high-profile criminal activity (e.g., on Jeffrey Epstein's private island) has raised concerns about reputational damage, potential civil liability, and negative media attention, which could adversely affect customer perception, especially among enterprise clients.

AI Analysis | Feedback

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AI Analysis | Feedback

Ubiquiti Inc. (UI) participates in several addressable markets with its diverse range of networking and technology products.

Fixed Wireless Access (FWA)

The global fixed wireless access market was estimated at USD 183.78 billion in 2025 and is projected to reach USD 1,115.98 billion by 2033, growing at a compound annual growth rate (CAGR) of 26.7% from 2026 to 2033. North America was the largest market in 2025, while Asia Pacific is expected to be the fastest-growing region.

Wireless Backhaul Equipment

The global wireless and mobile backhaul equipment market was valued at USD 109.6 billion in 2024 and is projected to reach USD 230.43 billion by 2034, exhibiting a CAGR of 11.5% during the forecast period. Another report estimates the global wireless backhaul equipment market size to reach USD 80.3 billion by 2030, rising at a CAGR of 12.3% during the forecast period. North America held over 25% share in 2023.

Enterprise WLAN

The global enterprise WLAN market size was valued at USD 13.66 billion in 2024 and is poised to grow to USD 91.95 billion by 2033, at a CAGR of 23.6% from 2026 to 2033. Another estimate indicates the global enterprise WLAN market size was USD 7.86 billion in 2025 and is projected to reach USD 13.26 billion by 2034, exhibiting a CAGR of 5.90%. North America dominated the global market with a share of 41.00% in 2025. Ubiquiti held an 11.3% market share in the enterprise WLAN market in 3Q25.

Video Surveillance

The global video surveillance market size is projected to rise from USD 63.7 billion in 2026 to USD 112.8 billion by 2033, growing at a CAGR of 8.5% from 2026 to 2033. Another source projects the global video surveillance market size to increase from USD 84.12 billion in 2025 to approximately USD 267.39 billion by 2035, expanding at a CAGR of 12.26% from 2026 to 2035. Asia Pacific dominated the global market, accounting for more than 39% market share in 2026.

GPON (Gigabit Passive Optical Network)

The global Gigabit Passive Optical Network (GPON) market was valued at USD 7.3 billion in 2024 and is projected to grow at a CAGR of 9.4% between 2025 and 2034, reaching USD 17.6 billion by 2034. Another report values the global GPON market at USD 8.7 billion in 2025, projected to reach USD 15.3 billion by 2035, rising at a CAGR of 6.5% during the forecast period (2026-2035). North America is projected to hold the largest revenue share, with Asia Pacific being the fastest-growing region.

Network Switches

The global network switches market size was approximately USD 30.8 billion in 2024 and is projected to reach USD 69.20 billion by 2035, growing at a CAGR of 6.79% from 2026 to 2035. Another estimate indicates the market grew from USD 37.60 billion in 2025 to USD 40.53 billion in 2026 and is on track to reach USD 65.61 billion by 2032, driven by a CAGR of 8.27%. North America is estimated to contribute 40% to the growth of the global market.

Routing

In 2023, the global routing market was valued at USD 15.5 billion and is expected to grow at a compound annual growth rate of 8.8% during 2024–2030, to reach USD 29.3 billion by 2030. North America is a leading region in the routing market due to its early adoption of advanced technologies.

Access Control Systems

The global access control market size is calculated at USD 12.01 billion in 2025 and is predicted to increase to approximately USD 25.15 billion by 2034, expanding at a CAGR of 8.56% from 2025 to 2034. North America held the largest market share of 33% in 2024.

AI Analysis | Feedback

Ubiquiti Inc. (UI) is expected to drive future revenue growth over the next 2-3 years through several key areas:

  1. Continued Growth in the Enterprise Technology Platform: Ubiquiti's Enterprise Technology platform has been a consistent and significant driver of revenue growth, with strong performance noted across multiple recent fiscal quarters and years. This platform includes wireless LAN infrastructure, video surveillance products, switching and routing solutions, and security gateways, indicating sustained demand for its enterprise-focused networking solutions.
  2. Increased Demand in the Service Provider Technology Platform: While growth in this segment has varied, more recent reports highlight a positive trend. The Service Provider Technology platform is expected to see increased revenue contributions, fueled by investments from telecom operators for network upgrades and 5G deployments.
  3. Introduction of New and Innovative Products: Ubiquiti's ongoing investment in research and development, coupled with mentions of new product innovations like UniFi 7, suggests that the launch of new and enhanced products will be a crucial revenue driver. This includes leveraging technology platforms such as airMAX, EdgeMAX, airFiber, and UFiber GPON to deliver high-speed networking solutions.
  4. Geographic Expansion and Strong Regional Demand: The company has experienced healthy demand and revenue growth in key geographic regions, particularly North America, Europe, the Middle East, and Africa (EMEA). Continued expansion and increasing market penetration in these and other regions are anticipated to contribute to future revenue growth.

AI Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • In August 2025, Ubiquiti announced a new share repurchase program authorizing the repurchase of up to $500 million of its shares, which is set to expire on September 30, 2026.
  • The initiation of this program followed the company's efforts to pay down its substantial debt, indicating a strategic shift towards returning cash to shareholders.

Share Issuance

  • Ubiquiti's shares outstanding demonstrated relative stability with minor fluctuations between fiscal years 2021 and 2025, hovering around 0.060 to 0.063 billion.

Capital Expenditures

  • Capital expenditures for Ubiquiti have been modest over the past five fiscal years, with reported amounts of $18.33 million in FY2021, $13.47 million in FY2022, $20.93 million in FY2023, $11.98 million in FY2024, and $12.59 million in FY2025.
  • These expenditures are considered conservative relative to the company's scale, focusing on ongoing investment in capacity rather than aggressive expansion.

Better Bets vs. Ubiquiti (UI)

Trade Ideas

Select ideas related to UI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PANW_3312026_Insider_Buying_GTE_1Mil_EBITp+DE_V203312026PANWPalo Alto NetworksInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
0.0%0.0%0.0%
ALKT_3312026_Insider_Buying_45D_2Buy_200K03312026ALKTAlkami TechnologyInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
DBX_3272026_Dip_Buyer_FCFYield03272026DBXDropboxDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
2.6%2.6%0.0%
DLB_3272026_Dip_Buyer_FCFYield03272026DLBDolby LaboratoriesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.5%3.5%0.0%
PTC_3272026_Dip_Buyer_FCFYield03272026PTCPTCDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.5%3.5%0.0%
UI_11072025_Quality_Momentum_RoomToRun_10%11072025UIUbiquitiQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
29.4%29.4%-15.7%
UI_2282025_Quality_Momentum_RoomToRun_10%02282025UIUbiquitiQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
54.8%125.7%-20.0%
UI_1312022_Monopoly_xInd_xCD_Getting_Cheaper01312022UIUbiquitiMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.7%1.9%-23.3%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

UIVSATADTNVISNCSCOANETMedian
NameUbiquiti Viasat Adtran Vistance.Cisco Sy.Arista N. 
Mkt Price790.2945.8012.5818.2077.59122.7861.70
Mkt Cap47.86.21.0-306.9154.447.8
Rev LTM2,9724,6161,0841,93259,0549,0063,794
Op Inc LTM1,043-45-163213,6853,856537
FCF LTM7006246125312,2414,252662
FCF 3Y Avg485-221324612,8693,309365
CFO LTM7161,56613032313,3254,3721,141
CFO 3Y Avg4999716329813,7643,371735

Growth & Margins

UIVSATADTNVISNCSCOANETMedian
NameUbiquiti Viasat Adtran Vistance.Cisco Sy.Arista N. 
Rev Chg LTM38.2%2.1%17.5%39.7%9.0%28.6%23.0%
Rev Chg 3Y Avg19.2%24.4%3.3%-20.6%3.8%27.3%11.5%
Rev Chg Q35.8%3.0%20.1%-32.9%9.7%28.9%14.9%
QoQ Delta Rev Chg LTM7.8%0.7%4.7%-22.0%2.4%6.6%3.5%
Op Mgn LTM35.1%-1.0%-1.4%1.6%23.2%42.8%12.4%
Op Mgn 3Y Avg30.3%-8.4%-10.6%-6.2%24.2%41.1%9.0%
QoQ Delta Op Mgn LTM1.4%0.1%2.1%-7.8%0.7%-0.1%0.4%
CFO/Rev LTM24.1%33.9%12.0%16.7%22.6%48.5%23.3%
CFO/Rev 3Y Avg20.1%22.0%6.5%16.1%24.3%45.4%21.0%
FCF/Rev LTM23.5%13.5%5.6%13.1%20.7%47.2%17.1%
FCF/Rev 3Y Avg19.5%-6.3%0.7%13.5%22.7%44.6%16.5%

Valuation

UIVSATADTNVISNCSCOANETMedian
NameUbiquiti Viasat Adtran Vistance.Cisco Sy.Arista N. 
Mkt Cap47.86.21.0-306.9154.447.8
P/S16.11.30.9-5.217.15.2
P/EBIT45.841.5-84.4-21.240.040.0
P/E53.8-18.3-22.0-27.744.027.7
P/CFO66.84.07.7-23.035.323.0
Total Yield2.2%-5.5%-4.5%-5.7%2.3%2.2%
Dividend Yield0.4%0.0%0.0%-2.1%0.0%0.0%
FCF Yield 3Y Avg1.9%-14.5%-0.3%-5.4%2.6%1.9%
D/E0.01.10.2-0.10.00.1
Net D/E-0.00.90.1-0.0-0.10.0

Returns

UIVSATADTNVISNCSCOANETMedian
NameUbiquiti Viasat Adtran Vistance.Cisco Sy.Arista N. 
1M Rtn3.0%0.0%23.3%3.6%-2.4%-8.0%1.5%
3M Rtn40.9%29.6%42.1%-1.3%0.8%-7.3%15.2%
6M Rtn19.9%56.3%34.1%-1.3%14.7%-15.7%17.3%
12M Rtn156.2%339.5%44.3%-1.3%28.8%58.5%51.4%
3Y Rtn200.8%35.3%-19.0%-1.3%61.6%192.6%48.5%
1M Excs Rtn4.1%2.1%31.4%7.1%2.8%0.1%3.5%
3M Excs Rtn45.0%37.6%50.4%4.2%5.2%-3.0%21.4%
6M Excs Rtn22.4%63.2%38.3%0.7%17.9%-12.4%20.1%
12M Excs Rtn139.1%302.4%24.4%-18.3%13.6%40.6%32.5%
3Y Excs Rtn145.4%-19.6%-83.0%-65.7%2.8%126.3%-8.4%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Enterprise Technology1,6181,6213751,275842
Service Provider Technology3113191,317623442
Total1,9281,9411,6921,8981,284


Price Behavior

Price Behavior
Market Price$790.29 
Market Cap ($ Bil)47.8 
First Trading Date10/14/2011 
Distance from 52W High-5.8% 
   50 Days200 Days
DMA Price$704.04$589.55
DMA Trendupup
Distance from DMA12.3%34.1%
 3M1YR
Volatility56.8%62.8%
Downside Capture0.510.72
Upside Capture337.63187.09
Correlation (SPY)40.5%44.1%
UI Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta2.822.531.831.781.461.43
Up Beta0.442.812.292.491.401.22
Down Beta3.612.211.121.901.521.37
Up Capture451%554%407%217%303%590%
Bmk +ve Days7162765139424
Stock +ve Days13253571148405
Down Capture159%89%94%122%103%109%
Bmk -ve Days12233358110323
Stock -ve Days9172855104346

[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 UI
UI157.1%62.6%1.74-
Sector ETF (XLK)29.5%27.0%0.9346.8%
Equity (SPY)17.2%18.9%0.7244.1%
Gold (GLD)52.7%27.9%1.5116.1%
Commodities (DBC)17.9%17.6%0.8614.2%
Real Estate (VNQ)2.8%16.5%-0.0028.1%
Bitcoin (BTCUSD)-20.8%44.1%-0.4020.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with UI
UI20.4%48.6%0.55-
Sector ETF (XLK)16.3%24.7%0.5944.4%
Equity (SPY)12.1%17.0%0.5546.0%
Gold (GLD)21.7%17.8%1.0012.2%
Commodities (DBC)11.6%18.8%0.508.8%
Real Estate (VNQ)3.6%18.8%0.1037.2%
Bitcoin (BTCUSD)4.9%56.6%0.3119.4%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with UI
UI38.6%47.3%0.87-
Sector ETF (XLK)21.1%24.3%0.8045.1%
Equity (SPY)14.0%17.9%0.6745.1%
Gold (GLD)13.8%15.9%0.726.5%
Commodities (DBC)8.1%17.6%0.3812.1%
Real Estate (VNQ)5.0%20.7%0.2133.2%
Bitcoin (BTCUSD)66.1%66.8%1.0510.2%

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Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 2282026-7.6%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest4.1 days
Basic Shares Quantity60.5 Mil
Short % of Basic Shares0.6%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/6/20268.0%22.6%30.8%
11/7/2025-19.4%-26.6%-23.0%
8/22/202530.6%36.3%64.7%
5/9/202517.1%19.1%17.8%
2/7/2025-8.6%-19.5%-29.4%
11/8/202419.8%31.3%26.1%
8/23/20249.8%10.1%24.7%
5/10/20249.0%21.7%24.4%
...
SUMMARY STATS   
# Positive121311
# Negative121113
Median Positive12.6%13.7%24.4%
Median Negative-8.6%-9.2%-10.2%
Max Positive30.6%36.3%64.7%
Max Negative-19.4%-26.6%-29.4%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/06/202610-Q
09/30/202511/07/202510-Q
06/30/202508/22/202510-K
03/31/202505/09/202510-Q
12/31/202402/07/202510-Q
09/30/202411/08/202410-Q
06/30/202408/23/202410-K
03/31/202405/10/202410-Q
12/31/202302/09/202410-Q
09/30/202311/03/202310-Q
06/30/202308/25/202310-K
03/31/202305/05/202310-Q
12/31/202202/03/202310-Q
09/30/202211/04/202210-Q
06/30/202208/26/202210-K
03/31/202205/06/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Radigan, KevinCHIEF ACCOUNTING OFFICERDirectSell11142025576.58350201,8031,595,973Form
2Radigan, KevinCHIEF ACCOUNTING OFFICERDirectSell2142025347.991,000347,990864,407Form