Forensic Analysis · Technology / Software · as of Aug 9, 2026

Ubiquiti Inc. (UI)

A forensic read on Ubiquiti Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

19.9

Distress distance

Clean

Earnings quality

Forensic signals

36.4

P / E (ttm)

106.5%

ROE

$34.3B

Market cap

0.56%

Dividend yield

33.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Ubiquiti Inc. earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 19.9, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by cash conversion.

What the filings flag

0.71×

FY2023–FY2025

Cash conversion. Over FY2023–FY2025, operating cash flow was 0.71× cumulative net income. Cash is lagging reported profit. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.

+12.9%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +12.9% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +46% against +22% in cost of sales and receivables up +45% against revenue +33%. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by 10% of net operating assets.

Key fundamentals

Latest Revenue$2.57B

Revenue Growth YoY+33.4%

Revenue CAGR (3yr)+15.0%

Net Margin27.7%

Free Cash Flow$627.4M

Return on Equity106.5%

Debt / Equity0.37x

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Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.