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Sells networking and IoT hardware (Wi-Fi access points, switches, cameras) mainly to service providers and enterprises/prosumers, sold direct online.
Sells networking and IoT hardware (Wi-Fi access points, switches, cameras) mainly to service providers and enterprises/prosumers, sold direct online.
Sells through distributors and its own online store with almost no sales force, relying on a user community for support and marketing, which keeps costs low. Customers are mostly small businesses and installers who start with a few UniFi devices and add more, since the products work together. Founder Robert Pera owns the large majority of the shares.
Moat: narrow (cost advantage, brand, distribution). Direct-to-customer online sales model with a lean R&D/marketing structure gives a cost advantage over traditional enterprise networking vendors.
Headquarters: New York, New York, United States · Founded: 2003 · Employees: 1,818
Size Ubiquiti (UI) is a United States Information Technology company (Telecommunications Equipment) with a market value of $35.9B, the 319th largest of 3,117 United States companies the cockpit tracks. Shares closed at $592.84 on 6 Nov 2026.
Performance Over six months the shares fell 29.6%, against -17.9% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 15 in its peer set.
Growth Revenue grew 27.2% over the last twelve months (peer median +9.2%); the operating margin is 36.2% (peer median 5.1%).
Valuation It trades at 33.5× forward earnings against a peer median of 18.4× (2nd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 91.4 points above its cost of capital (11.6% WACC).
Short interest Short interest is 0.6% of the free float (15 Oct 2026).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $3.27B | $3.27B | $2.57B | $1.93B | $1.94B |
| Revenue growth | — | +27% | +33% | -1% | — |
| Gross profit | $1.51B | $1.51B | $1.12B | $740M | $761M |
| EBITDA | $1.20B | $1.20B | $858M | $518M | $561M |
| Net income | $960M | $960M | $712M | $350M | $408M |
| Free cash flow | $909M | $909M | $627M | $530M | -$166M |
| Capital expenditure | $19.7M | $19.7M | $12.6M | $12.0M | $20.9M |
| Total debt | $80.0M | $80.0M | $297M | $757M | $1.14B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ubiquiti UI | $35.9B | -30% | +27% | 36% | 33.5× | 22.2% |
| Cisco CSCO | $369B | -3% | +12% | 25% | 18.4× | 15.0% |
| NETGEAR NTGR | $513M | -31% | -1% | -4% | 46.4× | n/a |
| Hewlett Packard Enterprise HPE | $59.4B | +43% | +27% | 8% | 9.6× | 16.2% |
| Extreme Networks EXTR | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% |
| Hangzhou Hikvision Digital Technology 002415.SZ | $49.1B | -3% | +8% | 19% | 17.5× | 2.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | UI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.6% | -3.2% | 7th lowest of 15 |
| 6-month return | -29.6% | -17.9% | 6th lowest of 15 |
| Distance from 52-week high | -46.1% | -39.4% | 8th highest of 15 |
| Revenue growth (TTM) | +27.2% | +9.2% | 5th highest of 15 |
| Operating margin | 36.2% | 5.1% | highest of 15 |
| Forward P/E | 33.5× | 18.4× | 2nd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 22.2% | 16.9% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +11.5% | +7.0% | 4th highest of 11 |
| Hurdle (Req g minus delivered) | +10.6 pp | +9.3 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +91.4 pp | +4.2 pp | highest of 15 |
| EV / EBITDA | 29.3× | 19.8× | 2nd most expensive of 7 |
| Net debt / EBITDA | -0.4× | -0.3× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ubiquiti UI | United States | $35.9B | -30% | +27% | 36% | 33.5× | 22.2% | +11.5% |
| Telefonaktiebolaget LM Ericsson ERIC-A.ST | Sweden | $34.9B | -9% | -4% | 14% | 17.3× | -8.7% | +0.4% |
| Ciena CIEN | United States | $34.5B | -56% | +33% | 14% | 23.4× | 29.0% | +6.2% |
| Nokia NOKIA.HE | Finland | $44.3B | -37% | +4% | 14% | 19.2× | 17.4% | -1.9% |
| Hangzhou Hikvision Digital Technology 002415.SZ | China | $49.1B | -3% | +8% | 19% | 17.5× | 2.6% | +7.8% |
| Accton Technology 2345.TW | Taiwan | $21.6B | -49% | +82% | 14% | 12.5× | 4.5% | +35.4% |
| ZTE 0763.HK | Hong Kong | $19.0B | -27% | +20% | 1% | 14.6× | 17.5% | +4.9% |
| ZTE 000063.SZ | China | $19.0B | -23% | +14% | 1% | 24.2× | 19.0% | +5.6% |
| Motorola Solutions MSI | United States | $85.1B | +34% | +10% | 25% | 27.0× | 16.4% | +9.5% |
| TCL Technology 000100.SZ | China | $15.0B | +7% | +5% | 0% | 13.1× | -4.7% | +19.1% |
| Xiaomi-w 1810.HK | Hong Kong | $99.0B | -2% | +6% | 3% | 27.8× | 24.3% | +12.4% |
| Huaqin 603296.SS | China | $12.7B | -13% | +28% | 2% | 17.1× | n/a | n/a |
| Shenzhen Transsion 688036.SS | China | $11.6B | +13% | -1% | 5% | 21.8× | n/a | n/a |
| Foxconn Industrial Internet 601138.SS | China | $120B | -35% | +60% | 5% | 13.1× | n/a | n/a |
| China Spacesat 600118.SS | China | $9.75B | -46% | +6% | 1% | 531.4× | n/a | n/a |