Recent News
On June 18, 2026 the company introduced an Enterprise NAS built on ZFS; on June 25, 2026 Ubiquiti released UniFi Network 10.5; subsequent releases include UniFi Protect 7.2 (early August), UniFi Network 10.6 (August 25, 2026), a long-range UniFi Travel Router (August 28, 2026), and new Whole-Home Wi‑Fi and Next‑Gen Enterprise Networking announcements in early September 2026. These product and software announcements emphasize enterprise features, campus security, and expanded consumer offerings.
Technical Analysis
Directional indicators show an emerging trend: ADX sits at 21.01, indicating only an emerging strength to the directional move; the negative directional index exceeds the positive index and is increasing, while the positive directional index has peaked and reversed—this alignment signals bearish directional bias for price in the near term and raises the likelihood of further downside toward key support levels.
MACD reads -1.94 and moves lower while the signal line sits at 2.52; MACD negative and decreasing signals bearish momentum, suggesting continued selling pressure until momentum stabilizes or the MACD begins a defined reversal.
MRO equals -3.31 and is decreasing; the negative MRO indicates the model’s internal target sits above the current price and implies upward pressure from that oscillator, creating a technical divergence versus the bearish directional and momentum indicators that could produce choppy price action or short-lived bounces.
RSI stands at 48.03 and is decreasing, reflecting neutral-to-weak momentum without oversold breadth; RSI near midrange supports a scenario of consolidation or modest pullback rather than an immediate runaway move.
Price sits at $552.91, below the 200‑day average of $656.36 and below the Ichimoku Senkou B at $600.83, reinforcing medium-term resistance overhead; the 20‑day average at $576.47 and the 50‑day at $559.19 lie above current price, indicating short-term moving‑average resistance. Bollinger bands place 1x upper at $603.86 and 1x lower at $549.08, so current price trades just above the 1x lower band and may test that lower band if selling persists.
Volume shows recent weakening versus the 10‑day average (current volume 118,953 vs 10‑day avg 192,817) while 200‑day average volume of 117,324 remains similar to current daily prints; lower short-term volume on declining price suggests limited conviction in the move so far.
Fundamental Analysis
Revenue momentum shows YoY revenue growth of 32.30% while quarter-over-quarter revenue contracted by 6.78%, reflecting seasonal or product-cycle variation. Operating margin (EBIT margin) stands at 36.27%, above the industry peer mean of 25.997% and above the industry peer median of 27.877%, indicating comparatively strong operating profitability relative to peers.
EPS for the most recent reported period arrived at $4.73 versus an estimate of $4.03, a beat of $0.70 or a 17.37% surprise; forward EPS equals $4.89475. Operating cash flow reached $298,537,000 with free cash flow of $293,149,000 and a free cash flow yield of 0.81% (free cash flow yield QoQ rose substantially). Cash and short‑term investments total $611,199,000 and the current ratio equals 2.93, supporting ample near‑term liquidity. Total debt sits at $79,961,000, yielding a debt-to-assets ratio of 3.64% and a debt-to-equity of 5.55%, both low on an absolute basis.
Valuation multiples remain rich: trailing P/E near 126.25, forward P/E about 138.09, price-to-sales 38.56 and price-to-book near 25.09. WMDST values the stock as over-valued; the current price of $552.91 exceeds the price target mean of $534.17 by roughly 3.5%, reinforcing the view that market pricing exceeds the central target. High margins, strong operating cash conversion (cash flow to earnings ~130%), and low leverage support the premium, while stretched multiples and a high enterprise multiple argue for valuation compression risk.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-21 |
| NEXT REPORT DATE: | 2026-11-20 |
| CASH FLOW | Begin Period Cash Flow | $ 368.7 M |
| Operating Cash Flow | $ 298.5 M | |
| Capital Expenditures | $ -5.39 M | |
| Change In Working Capital | $ 44.0 M | |
| Dividends Paid | $ -48.42 M | |
| Cash Flow Delta | $ 153.9 M | |
| End Period Cash Flow | $ 522.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 937.3 M | |
| Forward Revenue | $ 243.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 508.1 M | |
| Depreciation | $ 4.7 M | |
| Depreciation and Amortization | $ 4.7 M | |
| Research and Development | $ 53.0 M | |
| Total Operating Expenses | $ 597.3 M | |
| PROFITABILITY | ||
| Gross Profit | $ 429.3 M | |
| EBITDA | $ 344.7 M | |
| EBIT | $ 340.0 M | |
| Operating Income | $ 340.0 M | |
| Interest Income | — | |
| Interest Expense | $ -3.06 M | |
| Net Interest Income | $ 3.1 M | |
| Income Before Tax | $ 343.1 M | |
| Tax Provision | $ 58.2 M | |
| Tax Rate | 16.953 % | |
| Net Income | $ 284.9 M | |
| Net Income From Continuing Operations | $ 284.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 4.03 | |
| EPS Actual | $ 4.73 | |
| EPS Difference | $ 0.70 | |
| EPS Surprise | 17.37 % | |
| Forward EPS | $ 4.89 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.2 B | |
| Intangible Assets | $ 1.7 M | |
| Net Tangible Assets | $ 1.4 B | |
| Total Current Assets | $ 1.8 B | |
| Cash and Short-Term Investments | $ 611.2 M | |
| Cash | $ 522.6 M | |
| Net Receivables | $ 301.7 M | |
| Inventory | $ 780.4 M | |
| Long-Term Investments | $ 6.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 432.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 626.6 M | |
| Net Debt | — | |
| Total Debt | $ 80.0 M | |
| Total Liabilities | $ 757.9 M | |
| EQUITY | ||
| Total Equity | $ 1.4 B | |
| Retained Earnings | $ 1.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 23.80 | |
| Shares Outstanding | 60.522 M | |
| Revenue Per-Share | $ 15.49 | |
| VALUATION | Market Capitalization | $ 36.1 B |
| Enterprise Value | $ 35.6 B | |
| Enterprise Multiple | 103.31 | |
| Enterprise Multiple QoQ | -41.095 % | |
| Enterprise Multiple YoY | 3.421 % | |
| Enterprise Multiple IPRWA | high: 233.657 UI: 103.31 mean: 80.737 median: 69.004 low: -106.096 |
|
| EV/R | 37.993 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.526 | |
| Asset To Liability | 2.9 | |
| Debt To Capital | 0.053 | |
| Debt To Assets | 0.036 | |
| Debt To Assets QoQ | -6.694 % | |
| Debt To Assets YoY | -82.062 % | |
| Debt To Assets IPRWA | high: 0.594 median: 0.249 mean: 0.23 UI: 0.036 low: 0.012 |
|
| Debt To Equity | 0.056 | |
| Debt To Equity QoQ | -0.198 % | |
| Debt To Equity YoY | -87.525 % | |
| Debt To Equity IPRWA | high: 1.874 median: 0.641 mean: 0.584 UI: 0.056 low: 0.018 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 25.095 | |
| Price To Book QoQ | -42.113 % | |
| Price To Book YoY | -36.46 % | |
| Price To Book IPRWA | UI: 25.095 high: 14.074 mean: 7.666 median: 6.836 low: -5.516 |
|
| Price To Earnings (P/E) | 126.255 | |
| Price To Earnings QoQ | -43.134 % | |
| Price To Earnings YoY | 7.947 % | |
| Price To Earnings IPRWA | high: 410.53 mean: 132.269 UI: 126.255 median: 83.555 low: -250.109 |
|
| PE/G Ratio | 5.763 | |
| Price To Sales (P/S) | 38.56 | |
| Price To Sales QoQ | -41.683 % | |
| Price To Sales YoY | 10.913 % | |
| Price To Sales IPRWA | UI: 38.56 high: 27.651 median: 21.086 mean: 16.288 low: 0.734 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 138.092 | |
| Forward PE/G | 6.304 | |
| Forward P/S | 148.336 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 0.894 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.479 | |
| Asset Turnover Ratio QoQ | 0.991 % | |
| Asset Turnover Ratio YoY | -12.777 % | |
| Asset Turnover Ratio IPRWA | UI: 0.479 high: 0.304 mean: 0.146 median: 0.129 low: 0.068 |
|
| Receivables Turnover | 3.424 | |
| Receivables Turnover Ratio QoQ | -0.044 % | |
| Receivables Turnover Ratio YoY | 5.273 % | |
| Receivables Turnover Ratio IPRWA | UI: 3.424 high: 2.421 mean: 1.869 median: 1.679 low: 0.636 |
|
| Inventory Turnover | 0.708 | |
| Inventory Turnover Ratio QoQ | 12.726 % | |
| Inventory Turnover Ratio YoY | 7.643 % | |
| Inventory Turnover Ratio IPRWA | high: 2.715 median: 1.063 mean: 1.049 UI: 0.708 low: 0.22 |
|
| Days Sales Outstanding (DSO) | 26.652 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 117.798 | |
| Cash Conversion Cycle Days QoQ | -2.555 % | |
| Cash Conversion Cycle Days YoY | -20.603 % | |
| Cash Conversion Cycle Days IPRWA | high: 358.383 UI: 117.798 mean: 103.298 median: 62.263 low: -191.039 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.776 | |
| CapEx To Revenue | -0.006 | |
| CapEx To Depreciation | -1.145 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.4 B | |
| Net Invested Capital | $ 1.4 B | |
| Invested Capital | $ 1.4 B | |
| Net Tangible Assets | $ 1.4 B | |
| Net Working Capital | $ 1.2 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.975 | |
| Current Ratio | 2.928 | |
| Current Ratio QoQ | -17.798 % | |
| Current Ratio YoY | 77.379 % | |
| Current Ratio IPRWA | high: 3.397 UI: 2.928 mean: 1.709 median: 1.12 low: 0.567 |
|
| Quick Ratio | 1.682 | |
| Quick Ratio QoQ | -11.557 % | |
| Quick Ratio YoY | 140.043 % | |
| Quick Ratio IPRWA | high: 2.772 UI: 1.682 mean: 1.438 median: 0.886 low: 0.522 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.232 | |
| Cost Of Debt | -3.466 % | |
| Interest Coverage Ratio | -110.966 | |
| Interest Coverage Ratio QoQ | -125.221 % | |
| Interest Coverage Ratio YoY | -235.459 % | |
| Interest Coverage Ratio IPRWA | high: 17.705 median: 11.714 mean: 7.381 low: -31.69 UI: -110.966 |
|
| Operating Cash Flow Ratio | 0.593 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 65.616 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 5.884 | |
| Dividend Payout Ratio | 0.17 | |
| Dividend Rate | $ 0.80 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 28.139 % | |
| Revenue Growth | 18.92 % | |
| Revenue Growth QoQ | -678.063 % | |
| Revenue Growth YoY | 32.298 % | |
| Revenue Growth IPRWA | high: 32.017 % UI: 18.92 % mean: 7.377 % median: 6.809 % low: -38.099 % |
|
| Earnings Growth | 21.907 % | |
| Earnings Growth QoQ | 0.0 % | |
| Earnings Growth YoY | 24.415 % | |
| Earnings Growth IPRWA | high: 200.0 % UI: 21.907 % median: 16.667 % mean: 14.932 % low: -125.0 % |
|
| MARGINS | ||
| Gross Margin | 45.796 % | |
| Gross Margin QoQ | -2.63 % | |
| Gross Margin YoY | 1.44 % | |
| Gross Margin IPRWA | high: 86.653 % median: 62.928 % mean: 56.387 % UI: 45.796 % low: 17.42 % |
|
| EBIT Margin | 36.273 % | |
| EBIT Margin QoQ | -1.691 % | |
| EBIT Margin YoY | 5.344 % | |
| EBIT Margin IPRWA | high: 45.393 % UI: 36.273 % median: 27.877 % mean: 25.997 % low: -16.354 % |
|
| Return On Sales (ROS) | 36.273 % | |
| Return On Sales QoQ | -1.691 % | |
| Return On Sales YoY | 5.344 % | |
| Return On Sales IPRWA | high: 45.393 % UI: 36.273 % median: 24.992 % mean: 24.704 % low: -15.676 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 293.1 M | |
| Free Cash Flow Yield | 0.811 % | |
| Free Cash Flow Yield QoQ | 160.772 % | |
| Free Cash Flow Yield YoY | 71.097 % | |
| Free Cash Flow Yield IPRWA | high: 2.355 % median: 1.001 % UI: 0.811 % mean: 0.756 % low: -3.636 % |
|
| Free Cash Growth | 80.704 % | |
| Free Cash Growth QoQ | -314.234 % | |
| Free Cash Growth YoY | 2093.043 % | |
| Free Cash Growth IPRWA | high: 433.425 % UI: 80.704 % median: 42.205 % mean: 17.613 % low: -527.881 % |
|
| Free Cash To Net Income | 1.029 | |
| Cash Flow Margin | 39.619 % | |
| Cash Flow To Earnings | 1.303 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 14.559 % | |
| Return On Assets QoQ | 3.431 % | |
| Return On Assets YoY | -24.537 % | |
| Return On Assets IPRWA | UI: 14.559 % high: 5.459 % mean: 3.258 % median: 2.71 % low: -18.609 % |
|
| Return On Capital Employed (ROCE) | 21.634 % | |
| Return On Equity (ROE) | 0.198 | |
| Return On Equity QoQ | 1.67 % | |
| Return On Equity YoY | -50.433 % | |
| Return On Equity IPRWA | high: 0.276 UI: 0.198 median: 0.069 mean: 0.067 low: -0.193 |
|
| DuPont ROE | 21.563 % | |
| Return On Invested Capital (ROIC) | 19.605 % | |
| Return On Invested Capital QoQ | 0.528 % | |
| Return On Invested Capital YoY | -12.867 % | |
| Return On Invested Capital IPRWA | UI: 19.605 % high: 7.751 % mean: 4.653 % median: 4.6 % low: -13.871 % |
|