Ubiquiti Inc.UI
NYSE•Technology•Communication Equipment
Ubiquiti Inc. develops networking technology for service providers, enterprises, and consumers in North America, Europe, the Middle East, Africa, Asia Pacific, South America. The company 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 related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products. It also provides technology platforms, such as UniFi Cloud Gateway, an Enterprise class internet and security gateway device; UniFi Wi-Fi, an enterprise Wi-Fi system; UniFi Protect, a video surveillance platform; UniFi Switch that deliver performance, switching, and power of ethernet support for enterprise networks; UniFi Access, a door access solution; UniFi Talk, a plug-and-play phone system and VoIP subscription service, as well as UniFi Connect and its AmpliFi platform. In addition, the company offers airMAX, which include proprietary protocols that contain technologies for minimizing signal noise; airFiber, a wireless backhauls point-to-point radio system; UFiber GPON, a plug and play fiber network technology to build high speed fiber internet networks; and Wave, a technology platform. Further, the company provides base stations, radios, backhaul equipment, and customer premise equipment; embedded radio products; and antennas. It serves customers through a network of distributors, online retailers, and direct to customers through webstores. 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.
Ubiquiti Inc. (UI) reported trailing twelve months revenue of $3.10B as of March 2026, a 33.3% increase year-over-year. Quarterly revenue reached $788.20M, reflecting continued top-line momentum.
Ubiquiti Inc. generated $942.10M in TTM net income, with quarterly EBITDA of $295.44M. The operating margin expanded from 34.2% to 36.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (36.9%) and net margin (29.7%) indicates moderate non-operating costs. Net margin has improved from 27.2% a year ago, signaling stronger bottom-line efficiency.
UI trades at a P/E of 47.3x (a premium multiple) and a P/S of 14.4x. The price-to-book ratio of 37.1x indicates a significant premium over book value.
The company generated $162.23M in free cash flow over the trailing twelve months, a 34.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $1.72B in total assets with no in long-term debt against $1.20B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~33.1%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 152.8% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~60.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~35.7% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation