Ubiquiti Inc. (UI) intrinsic value & 10-year financials
Ubiquiti Inc. (UI) has a Graham intrinsic value of $390.62 per share. At $591.48 on Oct 20, 2026, the stock trades 51% above that value. Over the last 10 fiscal years revenue grew 16.2% a year to $2.6B, with an average return on invested capital of 136.4%.
- Graham intrinsic value
- $390.62
- Share price (Oct 20, 2026)
- $591.48
- Price vs Graham value
- 51% above
- Market cap
- $35.8B
- Revenue (FY2025)
- $2.6B
- Revenue growth (10-yr CAGR)
- 16.2%
- ROIC (10-yr avg)
- 136.4%
- Free cash flow (FY2025)
- $627.4M
UI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.6B | $711.9M | $11.76 | $627.4M | 32.5% | 97.5% |
| FY2024 | $1.9B | $350.0M | $5.79 | $529.5M | 25.9% | 51.3% |
| FY2023 | $1.9B | $407.6M | $6.74 | -$166.4M | 28.1% | 75.1% |
| FY2022 | $1.7B | $378.7M | $6.13 | $356.8M | 27.3% | 131.8% |
| FY2021 | $1.9B | $616.6M | $9.78 | $593.7M | 39.1% | 247.1% |
| FY2020 | $1.3B | $380.3M | $5.80 | $429.7M | 37.2% | 137.1% |
| FY2019 | $1.2B | $322.7M | $4.51 | $249.6M | 33.9% | 136.0% |
| FY2018 | $1.0B | $196.3M | $2.51 | $322.9M | 32.1% | 105.0% |
| FY2017 | $865.3M | $257.5M | $3.09 | $104.8M | 33.5% | 150.9% |
| FY2016 | $666.4M | $213.6M | $2.49 | $191.3M | 36.3% | 232.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Ubiquiti Inc. is a consistent compounder, expanding top-line revenue at 16.2% annually over the past decade.
Ubiquiti Inc. has earned high returns on invested capital, averaging 74.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Ubiquiti Inc. shows that management has aggressively returned capital to shareholders by retiring 29.4% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ubiquiti Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $390.62 per share.