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Wholesale fiber-network operator leasing infrastructure to telecom/internet carriers; merged with ISP Windstream in 2025.
Wholesale fiber-network operator leasing infrastructure to telecom/internet carriers; merged with ISP Windstream in 2025.
Before the 2025 merger, most of its income was rent paid by Windstream under a long-term lease of the fiber and copper network Uniti held after it was spun out of Windstream in 2015. The combination turned that largest tenant into part of the company, while wholesale leases to other carriers continue.
In one line: A telecom-infrastructure REIT-turned-operator.
Moat: narrow (installed base, scale). Owns extensive rural fiber/copper routes that are costly and slow for rivals to replicate.
Headquarters: Little Rock, Arkansas · Founded: 2015 · Employees: 8,632
Size Uniti (UNIT) is a United States Communication Services company (Major Telecommunications) with a market value of $1.27B, the 2104th largest of 3,117 United States companies the cockpit tracks. Shares closed at $5.22 on 6 Nov 2026.
Performance Over six months the shares fell 53.7%, against -11.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 199.7% over the last twelve months (peer median +3.7%); the operating margin is 9.7% (peer median 9.4%).
Valuation It trades at 3.3× enterprise value to sales against a peer median of 2.5× (9th most expensive of 21).
Capital Return on invested capital runs 3.5 points below its cost of capital (6.1% WACC).
Backlog Backlog (remaining performance obligations) was $2.10B at 30 Jun 2026 — 0.6 years of trailing revenue. Backlog detail →
Short interest Short interest is 9.6% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.54B | $2.23B | $1.17B | $1.15B | $1.13B |
| Revenue growth | — | +91% | +1% | +2% | — |
| Gross profit | $987M | $825M | $712M | $695M | $693M |
| EBITDA | $1.45B | $1.14B | $883M | $889M | $874M |
| Net income | $1.05B | $1.27B | $91.3M | -$82.9M | -$9.41M |
| Free cash flow | -$891M | -$460M | $11.9M | -$63.9M | $32.5M |
| Capital expenditure | $1.40B | $810M | $355M | $417M | $428M |
| Total debt | $11.1B | $10.1B | $5.96B | $5.63B | $5.27B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Uniti UNIT | $1.27B | -54% | +200% | 10% | 3.3× | n/a |
| Lumen Technologies LUMN | $4.12B | -59% | -8% | -3% | 1.3× | 5.1% |
| Cogent Communications CCOI | n/a | -76% | n/a | n/a | n/a | n/a |
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 | UNIT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.5% | +0.8% | lowest of 21 |
| 6-month return | -53.7% | -11.8% | 2nd lowest of 21 |
| Distance from 52-week high | -59.6% | -32.0% | 4th lowest of 21 |
| Revenue growth (TTM) | +199.7% | +3.7% | highest of 21 |
| Operating margin | 9.7% | 9.4% | 10th highest of 21 |
| EV / Sales | 3.3× | 2.5× | 9th most expensive of 21 |
| ROIC minus cost of capital | -3.5 pp | -2.3 pp | 7th lowest of 19 |
| EV / EBITDA | 8.0× | 10.2× | 7th cheapest of 17 |
| Net debt / EBITDA | 7.2× | 1.9× | 2nd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Uniti UNIT | United States | $1.27B | -54% | +200% | 10% | 3.3× | n/a | n/a |
| Grupo Televisa, S.A.B. Sponsored ADR TV | United States | $1.24B | -18% | +6% | 11% | 1.4× | 1.1% | -7.5% |
| Gamma Communications GAMA.L | United Kingdom | $1.32B | +23% | +7% | 15% | 1.5× | -0.4% | +10.4% |
| Hicon Network Technology (Shandong) 301262.SZ | China | $1.21B | +1% | +2% | 38% | 5.0× | 5.4% | +0.1% |
| Guangdong South New Media 300770.SZ | China | $1.37B | +7% | -6% | 37% | 4.6× | -1.5% | +5.9% |
| HKBN 1310.HK | Hong Kong | $1.02B | -25% | +6% | 3% | 1.5× | n/a | n/a |
| Liberty Latin America LILA | United States | $1.73B | +72% | +1% | 17% | 2.3× | 0.5% | +3.4% |
| RailTel Corp. of India RAILTEL.NS | India | $817M | -31% | +23% | 10% | 1.6× | 31.3% | +25.4% |
| IDT IDT | United States | $2.18B | +54% | +5% | 9% | 1.4× | 5.7% | -2.2% |
| Bahnhof BAHN-B.ST | Sweden | $681M | +12% | +8% | 11% | 2.8× | 10.9% | +8.5% |
| Eutelsat Communications ETL.PA | France | $2.40B | -40% | -1% | -6% | 2.9× | n/a | n/a |
| ITI ITI.NS | India | $2.53B | -18% | -41% | -1% | 11.3× | n/a | n/a |
| NetLink NBN Trust CJLU.SI | Singapore | $2.87B | -7% | 0% | 22% | 11.0× | 16.0% | +2.3% |
| Shenandoah Telecommunications SHEN | United States | $534M | -40% | +6% | -3% | 3.6× | n/a | n/a |
| Liberty Global LBTYB | United States | $3.09B | -17% | -27% | -1% | 4.2× | n/a | n/a |
| NOVA Technology 300921.SZ | China | $504M | -32% | +2% | 5% | 4.7× | 23.9% | +2.2% |
| Ooma OOMA | United States | $497M | -7% | +17% | 5% | 1.8× | 22.7% | +10.1% |
| ATN International ATNI | United States | $432M | -1% | +2% | 8% | 1.4× | 4.5% | +9.8% |
| Ovzon OVZON.ST | Sweden | $417M | -26% | +77% | 26% | 4.3× | 13.1% | +35.6% |
| Internet Initiative Japan 3774.T | Japan | $4.05B | +30% | +14% | 9% | 1.9× | 2.3% | +10.2% |
| Lumen Technologies LUMN | United States | $4.12B | -59% | -8% | -3% | 1.3× | 5.1% | -9.7% |
Uniti reported $2.10B of remaining performance obligations at 30 Jun 2026 and flat from the previous quarter. That is 0.6 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.