Ubiquiti Inc. (UI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-42.3%

$316.71

vs $548.82 price

Levered DCF

$280.99

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

31.83

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	33.65×	34.97×	25.44×	26.04×	40.43×	31.89×	30.04×	28.99×
P/B	22.44×	37.26×	93.66×	-91.78×	-39.99×	7,286.09×	-38.66×	94.29×
P/S	9.87×	9.67×	4.62×	5.47×	9.05×	10.36×	8.89×	8.06×
EV / EBITDA	26.46×	29.18×	18.4×	20.76×	33.68×	26.43×	24.61×	23.93×
Gross margin	46.2%	43.4%	38.4%	39.2%	39.6%	48.1%	47.3%	46.3%
Operating margin	36.2%	32.5%	25.9%	28.1%	27.3%	39.1%	37.2%	33.9%
Net margin	29.3%	27.7%	18.1%	21.0%	22.4%	32.5%	29.6%	27.8%
Current ratio	2.93×	1.65×	3.22×	3.32×	2×	2.51×	2.22×	4.21×
Debt / equity	0.06×	0.45×	7.97×	-9.84×	-2.23×	197.22×	-2.3×	4.99×
Interest coverage	500.82×	27.3×	6.64×	9.35×	25.95×	49.71×	17.08×	30.79×
Dividend yield	0.6%	0.6%	1.6%	1.4%	1.0%	0.5%	0.7%	0.8%
Payout ratio	20.2%	20.4%	41.5%	35.6%	39.1%	16.4%	20.7%	22.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	66.7%	106.5%	368.1%	-352.2%	-98.9%	22844.9%	-128.7%	325.0%
Return on invested capital	60.7%	72.6%	44.8%	41.3%	69.0%	97.2%	80.1%	45.9%
Return on assets	43.7%	48.5%	30.3%	29.0%	44.8%	69.2%	51.6%	36.8%
Free cash flow yield	2.8%	2.5%	5.9%	-1.6%	2.3%	3.0%	3.8%	2.7%
Earnings yield	3.0%	2.9%	3.9%	3.8%	2.5%	3.1%	3.3%	3.4%
Enterprise value	$31.9B	$25B	$9.5B	$11.6B	$16B	$19.9B	$12B	$9.6B
Net debt / EBITDA	-0.37×	0.17×	1.22×	1.82×	1.51×	0.37×	1.1×	0.64×
Cash conversion cycle (days)	106	164	159	212	90	78	111	181