What is Ubiquiti Inc.'s net debt?

Ubiquiti Inc. (UI) reported net debt of -$301.78M in Q1 2026.

How has Ubiquiti Inc.'s net debt changed year-over-year?

Ubiquiti Inc.'s net debt decreased by 229.7% year-over-year, from $232.74M to -$301.78M.

What is the long-term trend for Ubiquiti Inc.'s net debt?

Over 4 years (2021 to 2025), Ubiquiti Inc.'s net debt has grown at a -15.0% compound annual growth rate (CAGR), from $282.88M to $147.69M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Ubiquiti Inc. UI Net debt

Discontinued — last reported Q3 '26

Net debt at other companies

RepligenRGEN

-8.1×-18.6×

Axalta Coating SystemsAXTA

2.5×-0.2×

Zillow Group, Inc.ZG

-2.1×-4.3×

Federal SignalFSS

1.1×+0.4×

Clearwater AnalyticsCWAN

7.3×+5.0×

Protagonist TherapeuticsPTGX

-5.1×—

Other financials

Income statement

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Revenue$788.2M+18.7%

Gross profit$370.7M+25.3%

Operating income$290.8M+28.2%

Net income$233.9M+29.6%

EPS (diluted)$3.86+29.5%

Balance sheet

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Cash & equivalents$368.7M+144%

Total debt$66.9M-82.6%

Total equity$1.2B+176%

Total assets$1.7B+32.1%

Cash flow

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Operating cash flow$167.8M+35.8%

CapEx$5.6M+96.6%

Free cash flow$162.2M+34.4%

Valuation

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Market cap$35.68B+155%

Enterprise value$35.37B+150%

P/E37.9×+12.4×

P/S11.5×+5.5×

Profitability

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Gross margin46%+3.9pp

Operating margin35.8%+5.0pp

Net margin30.4%+6.8pp

FCF margin23.9%-7.6pp

Returns & leverage

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Return on equity115%-123pp

Debt / equity0.1×-0.8×

Current ratio3.6×+2.2×

Where this comes from

Calculated from Ubiquiti Inc.’s reported figures.

$66.9Mtotal debt−$368.7Mcash and equivalents=-$301.78M

The official record: Ubiquiti Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ubiquiti Inc.'s net debt?: Ubiquiti Inc. (UI) reported net debt of -$301.78M in Q1 2026.
How has Ubiquiti Inc.'s net debt changed year-over-year?: Ubiquiti Inc.'s net debt decreased by 229.7% year-over-year, from $232.74M to -$301.78M.
What is the long-term trend for Ubiquiti Inc.'s net debt?: Over 4 years (2021 to 2025), Ubiquiti Inc.'s net debt has grown at a -15.0% compound annual growth rate (CAGR), from $282.88M to $147.69M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.