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Sunday 1 November 2026
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Ubiquiti Inc.
UI Technology Communication Equipment
Ubiquiti Inc.’s revenue for fiscal 2026 (year ended June 2026) was $3.3 billion, up 27.2% from fiscal 2025.
- Revenue
- +23.5%
- EPS
- +6.80%
- Free cash flow
- +134.2%
- Total debt
- −88.3%
Quarter to June 2026, against a year earlier
563.81
42.90
−7.07%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 865 | 1,017 | 1,162 | 1,285 | 1,898 | 1,692 | 1,941 | 1,928 | 2,574 | 3,274 | +15.9% | 3,995 | 4,580 | — | +18.3% | |
| Gross margin, % | 45.73 | 43.62 | 46.28 | 47.35 | 48.06 | 39.59 | 39.20 | 38.36 | 43.42 | 46.16 | +0.4 pt | ||||||
| EBT | 285 | 314 | 381 | 450 | 728 | 444 | 486 | 424 | 806 | 1,183 | +17.1% | ||||||
| EBT margin, % | 32.94 | 30.89 | 32.84 | 35.05 | 38.34 | 26.27 | 25.06 | 21.98 | 31.31 | 36.13 | +3.2 pt | ||||||
| Net income | 258 | 196 | 323 | 380 | 617 | 379 | 408 | 350 | 712 | 960 | +15.7% | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 10.62 | 13.18 | 16.26 | 19.63 | 30.13 | 27.42 | 32.11 | 31.90 | 42.55 | 54.11 | +19.8% | |||||
| Earnings | 3.16 | 2.54 | 4.52 | 5.81 | 9.79 | 6.14 | 6.75 | 5.79 | 11.77 | 15.87 | +19.6% | ||||||
| Cash flow | 1.38 | 4.30 | 3.63 | 7.04 | 9.72 | 6.00 | (2.41) | 8.96 | 10.58 | 15.35 | +30.7% | ||||||
| Capex | (0.09) | (0.12) | (0.72) | (0.47) | (0.29) | (0.22) | (0.35) | (0.20) | (0.21) | (0.33) | +15.6% | ||||||
| Free cash flow | 1.29 | 4.18 | 2.91 | 6.57 | 9.43 | 5.78 | (2.75) | 8.76 | 10.37 | 15.02 | +31.4% | ||||||
| Book value | 7.39 | 4.09 | 1.39 | (4.52) | 0.04 | (6.21) | (1.91) | 1.57 | 11.05 | 23.80 | +13.9% | ||||||
| Shares, m | 81 | 77 | 71 | 65 | 63 | 62 | 60 | 60 | 60 | 61 | (3.3%) | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 16.39 | 33.63 | 29.06 | 30.04 | 31.89 | 40.56 | 26.04 | 25.44 | 34.97 | 33.63 | 30.2 | |||||
| P/S | 4.89 | 6.53 | 8.06 | 8.89 | 10.36 | 9.05 | 5.47 | 4.62 | 9.67 | 9.87 | 7.7 | ||||||
| P/B | 7.04 | 21.05 | 94.29 | 0.00 | 7,286.09 | 0.00 | 0.00 | 93.66 | 37.26 | 22.44 | 756.2 | ||||||
| EV/Sales | 4.49 | 6.36 | 8.22 | 9.29 | 10.49 | 9.44 | 5.97 | 4.92 | 9.86 | 9.81 | 7.9 | ||||||
| EV/FCF | 37.09 | 20.01 | 46.00 | 27.77 | 33.53 | 44.74 | (69.63) | 17.91 | 40.45 | 35.35 | 23.3 | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | 112 | 332 | 259 | 460 | 612 | 370 | (145) | 542 | 640 | 929 | +26.5% | |||||
| Capex | (7) | (9) | (52) | (31) | (18) | (13) | (21) | (12) | (13) | (20) | +11.8% | ||||||
| Free cash flow | 105 | 323 | 208 | 430 | 594 | 357 | (166) | 530 | 627 | 909 | +27.1% | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 854 | 888 | 575 | 322 | 418 | 311 | 815 | 631 | 462 | 1,208 | +3.9% | |||||
| Net debt | (348) | (182) | 187 | 509 | 240 | 650 | 963 | 580 | 100 | (611) | +6.5% | ||||||
| Shareholders’ equity | 602 | 316 | 99 | (295) | 3 | (383) | (116) | 95 | 668 | 1,440 | +10.2% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | 29.95 | 19.68 | 34.00 | 47.14 | 75.73 | 43.63 | 36.22 | 27.33 | 54.33 | 52.41 | +22.5 pt | |||||
| ROIC | 71.26 | 152.29 | 85.97 | 139.99 | 191.11 | 108.22 | 40.17 | 46.20 | 68.05 | 89.37 | +18.1 pt | ||||||
| ROE | 49.42 | 42.79 | 155.51 | (387.70) | (421.22) | (199.20) | (163.51) | (3,385.67) | 186.53 | 91.09 | +41.7 pt | ||||||
| People | |||||||||||||||||
| People | Employees | 725 | 843 | 955 | 714 | 1,223 | 1,137 | 1,059 | 1,515 | 1,667 | 1,818 | +10.8% | |||||
| Revenue/emp, $m | 1.19 | 1.21 | 1.22 | 1.80 | 1.55 | 1.49 | 1.83 | 1.27 | 1.54 | 1.80 | +4.7% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jun 2026 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Enterprise Technology | 2,972 | 90.78% |
|---|---|---|
| Service Provider Technology | 302 | 9.22% |
| Gross margin | 46.16% | |
| Operating margin | 36.21% | |
| Pre-tax margin | 36.13% |
Ubiquiti Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| LITE Lumentum Holdings Inc. | $83.3B | — (loss-making) | 39.4× | +109.34% (above 0%: growing) | n/m | +1,870.30% (above 0%: growing) | 47.43% | 27.76% | Compare |
| MSI Motorola Solutions, Inc. | $81.4B | 38.3× | 35.6× | +13.31% (above 0%: growing) | +9.09% (above 0%: growing) | +84.00% (above 0%: growing) | 53.56% | 25.82% | Compare |
| HPE Hewlett Packard Enterprise Company | $78.2B | 27.4× | 19.7× | +33.68% (above 0%: growing) | +438.10% (above 0%: growing) | +20.63% (above 0%: growing) | 40.11% | 11.41% | Compare |
| NOK Nokia Corporation | $52.7B | 4.6× | — | +8.48% (above 0%: growing) | n/m | −624.57% (below 0%: shrinking) | 44.57% | (1.04%) | Compare |
| CIEN Ciena Corporation | $49.6B | 69.3× | 55.3× | +37.05% (above 0%: growing) | +437.14% (above 0%: growing) | −13.59% (below 0%: shrinking) | 45.43% | 18.02% | Compare |
| UI Ubiquiti Inc. | $36.7B | 35.7× | 28.0× | +23.47% (above 0%: growing) | +6.80% (above 0%: growing) | +134.17% (above 0%: growing) | 45.80% | 36.27% | |
| ERIC Ericsson | $33.4B | 14.3× | — | −3.14% (below 0%: shrinking) | −7.14% (below 0%: shrinking) | −89.23% (below 0%: shrinking) | 45.78% | 11.24% | Compare |
| ZBRA Zebra Technologies Corporation | $17.9B | 32.7× | 24.3× | +20.42% (above 0%: growing) | +122.27% (above 0%: growing) | +52.31% (above 0%: growing) | 52.99% | 20.62% | Compare |
| ASTS AST SpaceMobile, Inc. | $16.8B | — (loss-making) | — (loss-making) | +2,626.64% (above 0%: growing) | n/m | −103.37% (below 0%: shrinking) | 25.23% | (944.09%) | Compare |
| Median of peers | $51.1B | 30.1× | 35.6× | +27.05% | +122.27% | +3.52% | 45.60% | 14.72% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
4.86%
Held by the ten largest
2.10%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 305.25k | 0.50% | +10.69k |
| RENAISSANCE TECHNOLOGIES LLC | 198.34k | 0.33% | −20.60k |
| SW Investment Management LLC | 140.00k | 0.23% | −2.50k |
| Capital Group | 113.84k | 0.19% | +6.22k |
| Vanguard | 106.75k | 0.18% | +5.89k |
| State Street | 101.66k | 0.17% | +16.20k |
| Arrowstreet Capital | 91.45k | 0.15% | −92.11k |
| Geode Capital Management | 74.03k | 0.12% | −1.41k |
| Goldman Sachs | 69.50k | 0.11% | −7.43k |
| Morgan Stanley | 68.96k | 0.11% | −8.99k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 23 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 1.09m | 1.09m | 180.00 |
| 2025 | 630.71k | 630.71k | 138.00 |
| 2024 | 810.48k | 810.48k | 48.00 |
| 2023 | 976.55k | 976.55k | 57.00 |
| 2022 | 478.91k | 478.91k | 80.00 |
Ownership
Directors and executive officers, together
93.00%
Robert J. Pera
93.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Ubiquiti sells networking equipment and related software for enterprises, internet service providers and smart homes. Its products help customers connect devices, manage networks, monitor premises and control access to buildings. Headquartered in New York City, the company is led by chief executive Robert J. Pera.
For businesses, the UniFi platform brings together WiFi access points, switches, security gateways, cameras, door-access equipment and business phones. Its software lets customers manage their networks through a central interface. For service providers, Ubiquiti sells equipment for fixed wireless broadband, network routing and wireless backhaul—the links that carry traffic between parts of a network. Its software also helps wireless internet providers control their networks and track and bill customers.