Ubiquiti Inc Stock Research

Market Summary

USD263.38-0.39

Market Closed

-0.15%

UI Stock Price

UI RSI Chart

UI Valuation

Market Cap

15.9B

Price/Earnings (Trailing)

45.7

Price/Sales (Trailing)

8.88

EV/EBITDA

36.85

Price/Free Cashflow

102.01

UI Price/Sales (Trailing)

UI Profitability

Operating Margin

-486.85%

EBT Margin

22.82%

Return on Equity

-140.45%

Return on Assets

27.45%

Free Cashflow Yield

0.98%

UI Fundamentals

UI Revenue

Revenue (TTM)

1.8B

Revenue Y/Y

14.37%

Revenue Q/Q

-0.91%

UI Earnings

Earnings (TTM)

348.2M

Earnings Y/Y

8.25%

Earnings Q/Q

20.41%

Price Action

52 Week Range

216.23349.16

(Low)(High)

Last 7 days

-1.5%

Last 30 days

-3.6%

Last 90 days

-2.9%

Trailing 12 Months

-6.0%

UI Financial Health

Current Ratio

2.03

Debt/Equity

-3.2

Debt/Cashflow

0.22

UI Investor Care

Dividend Yield

0.91%

Dividend/Share (TTM)

2.4

Buy Backs (1Y)

3.04%

Diluted EPS (TTM)

5.74

Peers (Alternatives to Ubiquiti)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CSCO	207.0B	53.2B	2.43%	-4.97%	18.31	3.89	3.13%	-4.42%
ANET	51.5B	4.4B	24.95%	20.96%	38.11	11.76	48.62%	60.84%
MSI	45.9B	9.1B	2.87%	18.05%	33.7	5.04	11.52%	9.48%
UI	15.9B	1.8B	-3.65%	-5.97%	45.7	8.88	-2.33%	-35.05%
MID-CAP
FFIV	8.4B	2.7B	-1.24%	-32.37%	27.83	3.09	1.62%	-10.71%
CIEN	7.3B	3.8B	2.84%	-18.41%	40.06	1.91	3.69%	-62.64%
LITE	3.5B	1.8B	-9.76%	-47.48%	122.19	1.91	7.24%	-92.58%
VSAT	2.4B	3.0B	-2.59%	-34.04%	-18.5	0.82	18.78%	-488.35%
SMALL-CAP
INFN	1.7B	1.6B	7.26%	-13.87%	-21.74	1.05	10.39%	55.47%
COMM	1.3B	9.2B	-18.21%	-28.25%	-1	0.14	7.47%	-178.19%
ADTN	1.2B	1.0B	6.86%	8.53%	-603.38	1.2	82.15%	76.41%
NTGR	508.5M	932.5M	-7.39%	-29.87%	-7.37	0.55	-20.17%	-239.69%
CMBM	484.3M	296.9M	-15.59%	-28.03%	23.97	1.63	-11.60%	-46.02%

Financials for Ubiquiti

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.6%	1,793	1,731	1,692	1,726	1,836
Gross Profit	3.6%	655	632	670	731	838
Operating Expenses	1.5%	212	209	208	198	189
S&GA Expenses	3.1%	73.00	71.00	70.00	67.00	62.00
R&D Expenses	0.6%	139	138	138	131	126
EBITDA	5.0%	449	428	470	544	-
EBITDA Margin	1.3%	0.25*	0.25*	3.48*	0.32*	-
Earnings Before Taxes	2.8%	409	398	444	520	635
EBT Margin	-0.7%	0.23*	0.23*	3.29*	0.30*	-
Interest Expenses	59.7%	25.00	16.00	12.00	10.00	10.00
Net Income	2.5%	348	340	379	440	536
Net Income Margin	-1.0%	0.19*	0.20*	2.81*	0.26*	-
Free Cahsflow	-46.6%	156	292	357	451	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	35.4%	1,269	937	845	760	891
Current Assets	46.8%	1,045	712	622	543	672
Cash Equivalents	16.8%	160	137	136	144	212
Inventory	81.6%	644	355	262	241	276
Net PPE	1.4%	86.00	85.00	80.00	81.00	80.00
Liabilities	20.1%	1,517	1,263	1,228	1,095	895
Current Liabilities	42.4%	515	361	311	241	254
. Short Term Borrowings	0%	24.00	24.00	24.00	24.00	24.00
Long Term Debt	69.1%	793	469	725	511	-
LT Debt, Non Current	13.6%	870	766	763	699	485
Shareholder's Equity	23.8%	-247	-325	-382	-4.19	-
Retained Earnings	23.3%	-250	-326	-383	-334	-4.34
Additional Paid-In Capital	89.3%	2.00	1.00	1.00	-	0.00
Accumulated Depreciation	-2.6%	62.00	64.00	61.00	58.00	-
Shares Outstanding	0.0%	60.00	60.00	60.00	61.00	62.00
Float	-	1,612	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-43.3%	176	311	370	465	499
Share Based Compensation	7.5%	4.00	4.00	4.00	3.00	3.00
Cashflow From Investing	-7.4%	-18.10	-16.85	-11.18	-14.90	-14.86
Cashflow From Financing	50.2%	-211	-423	-472	-568	-461
Dividend Payments	-0.8%	146	147	148	137	125
Buy Backs	-22.3%	450	579	618	580	235

Risks for UI

What is the probability of a big loss on UI?

91.2%

Probability that Ubiquiti stock will be more than 20% underwater in next one year

31.5%

Probability that Ubiquiti stock will be more than 30% underwater in next one year.

Probability that Ubiquiti stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does UI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Ubiquiti was unfortunately bought at previous high price.

Drawdowns

Returns for UI

Cumulative Returns on UI

35.0%

10-Year Cumulative Returns

35.7%

7-Year Cumulative Returns

32.1%

5-Year Cumulative Returns

23.9%

3-Year Cumulative Returns

What are the long-term rolling returns for UI?

FIve years rolling returns for Ubiquiti.

Annualized Returns

Which funds bought or sold UI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	reduced	-31.79	-20,865	36,379	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-15.82	-686,577	2,498,420	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-1.15	-13,000	141,000	-%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	unchanged	-	-20,470	273,530	0.02%
2023-03-03	TIAA, FSB	sold off	-100	-764,000	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-30.43	-129,841	240,159	-%
2023-02-22	CVA Family Office, LLC	reduced	-50.00	-1,632	1,368	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	3.45	-987	41,013	-%
2023-02-16	AXXCESS WEALTH MANAGEMENT, LLC	sold off	-100	-328,000	-	-%
2023-02-16	CoreFirst Bank & Trust	unchanged	-	-6,206	84,794	0.06%

Latest Funds Activity

Are funds buying UI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own UI

No. of Funds

Ubiquiti News

UI Fair Value

Ubiquiti fair value in different scenarios

The table shows the Fair Value estimates for Ubiquiti for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	99.96 -62.05%	133.28 -49.40%	201.44 -23.52%	274.95 4.39%	330.10 25.33%
Current Inflation	91.03 -65.44%	119.61 -54.59%	177.31 -32.68%	238.99 -9.26%	285.13 8.26%
Very High Inflation	80.01 -69.62%	103.08 -60.86%	148.81 -43.50%	197.18 -25.13%	233.24 -11.44%

Historical Ubiquiti Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Ubiquiti

View All Filings

Date Filed	Form Type	Document
Feb 03, 2023	8-K	Current Report
Feb 03, 2023	10-Q	Quarterly Report

Latest Insider Trading transactions for UI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-09-06	SEGE RONALD	acquired	22,746	10.77	2,112	-
2022-09-06	SEGE RONALD	sold	-635,290	300	-2,112	-
2022-07-01	Radigan Kevin	sold (taxes)	-163,942	245	-667	chief accounting officer
2022-07-01	Radigan Kevin	acquired	-	-	1,423	chief accounting officer
2022-05-18	SEGE RONALD	acquired	22,746	10.77	2,112	-
2022-05-18	SEGE RONALD	sold	-521,622	246	-2,112	-
2022-02-18	SEGE RONALD	acquired	22,746	10.77	2,112	-
2022-02-18	SEGE RONALD	sold	-523,164	247	-2,112	-
2021-11-15	SEGE RONALD	acquired	17,059	10.77	1,584	-
2021-11-15	SEGE RONALD	sold	-482,376	304	-1,584	-

About Ubiquiti

Robert J. Pera

www.ui.com

1220

Ubiquiti Inc. develops networking technology for service providers, enterprises, and consumers. It develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as consumer products under the Ubiquiti Labs brand name. The company also provides technology platforms, such as airMAX, which include proprietary protocols that contain technologies for minimizing signal noise; EdgeMAX, a software and system routing platform; airFiber, a point-to-point radio system; and UFiber GPON, a plug and play fiber network technology to build high speed fiber internet networks. In addition, it offers UniFi -Enterprise WLAN, an enterprise Wi-Fi system that allows for on-site and remote management through the cloud; UniFi Protect, a video surveillance system, which provides statistical reporting and advanced analytics; UniFi Switch that deliver performance, switching, and power of Ethernet support for enterprise networks; UniFi Console, an enterprise class router and security gateway device; and UniFi Access, a door access system. Further, offers base stations, radios, backhaul equipment, and customer premise equipment; embedded radio products; antennas; and mounting brackets, cables, and power over Ethernet adapters. It serves customers through a network of approximately 100 distributors, online retailers, and direct to customers worldwide. The company was formerly known as Ubiquiti Networks, Inc. and changed its name to Ubiquiti Inc. in August 2019. Ubiquiti Inc. was incorporated in 2003 and is headquartered in New York, New York.

UI Income Statement

2022-09-30

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 498,083	$ 458,914
Cost of revenues	326,715	249,451
Gross profit	171,368	209,463
Operating expenses:
Research and development	32,659	32,051
Sales, general and administrative	16,696	15,714
Total operating expenses	49,355	47,765
Income from operations	122,013	161,698
Interest expense and other, net	(10,651)	(3,815)
Income before income taxes	111,362	157,883
Provision for income taxes	18,180	25,733
Net income	$ 93,182	$ 132,150
Net income per share of common stock:
Basic (in usd per share)	$ 1.54	$ 2.11
Diluted (in usd per share)	$ 1.54	$ 2.11
Weighted average shares used in computing net income per share of common stock:
Basic (in shares)	60,427	62,519
Diluted (in shares)	60,446	62,561
Other comprehensive income:
Unrealized losses on available-for-sale securities	$ (49)	$ (1)
Other comprehensive loss	(49)	(1)
Comprehensive income	$ 93,133	$ 132,149

UI Balance Sheet

2022-09-30

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 136,519	$ 136,224
Investments — short-term	378	427
Accounts receivable, net of allowance for doubtful accounts of $55 and $52 at September 30, 2022 and June 30, 2022, respectively	147,567	119,627
Inventories	354,662	262,441
Vendor deposits	58,369	89,661
Prepaid expenses and other current assets	14,067	13,193
Total current assets	711,562	621,573
Property and equipment, net	85,170	80,232
Operating lease right-of-use assets, net	61,626	64,231
Deferred tax assets	6,483	6,618
Other long-term assets	72,398	72,058
Total assets	937,239	844,712
Current liabilities:
Accounts payable	93,987	83,663
Income taxes payable	35,133	14,061
Debt — short-term	24,410	23,865
Other current liabilities	207,964	189,361
Total current liabilities	361,494	310,950
Income taxes payable — long-term	77,547	94,169
Operating lease liabilities —long-term	51,649	54,025
Debt — long-term	766,019	762,622
Other long-term liabilities	6,002	5,822
Total liabilities	1,262,711	1,227,588
Commitments and contingencies (Note 10)
Stockholders’ deficit:
Preferred stock—$0.001 par value; 50,000,000 shares authorized; none issued	0	0
Common stock—$0.001 par value; 500,000,000 shares authorized: 60,428,811 and 60,420,525 outstanding as of September 30, 2022 and June 30, 2022, respectively	60	60
Additional paid–in capital	1,177	650
Accumulated other comprehensive (loss)	(523)	(474)
Retained (deficit)	(326,186)	(383,112)
Total stockholders’ (deficit)	(325,472)	(382,876)
Total liabilities and stockholders’ deficit	$ 937,239	$ 844,712