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Ultralife Corporation(ULBI)Earnings, Financials & Key Ratios
ULBI•NASDAQ
$6.11
Price updated Jul 6, 2026
AboutUltralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company operates in two segments, Battery & Energy Products and Communications Systems. The Battery & Energy Products segment offers lithium 9-volt, cylindrical, thin lithium manganese dioxide, rechargeable, and other non-rechargeable batteries; lithium-ion cells, multi-kilowatt module lithium ion battery systems, and uninterruptable power supplies; and rugged military and commercial battery charging systems and accessories, including smart chargers, multi-bay charging systems, and various cables. The Communications Systems segment provides communications systems and accessories to support military communications systems, such as radio frequency amplifiers, power supplies and cables, connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, and integrated communication systems for fixed or vehicle applications comprising vehicle adapters, vehicle installed power enhanced rifleman appliqué systems, and SATCOM systems. This segment's military communications systems and accessories are designed to enhance and extend the operation of communications equipment, such as vehicle-mounted, manpack, and handheld transceivers. It sells its products under the Ultralife, Ultralife Thin Cell, Utralife HiRate, Ultralife and design, Ultra, Lithium Power, LithiumPower and Design, McDowell Research, AMTI, ABLE, ACCUTRONICS, ACCUPRO, ENTELLION, SWE Southwest Electronic Energy Group, SWE DRILL-DATA, and SWE SEASAFE brands through original equipment manufacturers, and industrial and defense supply distributors, as well as directly to the United States and international defense departments. In addition, the company sells its 9-volt battery to the broader consumer market through national and regional retail chains and online retailers. Ultralife Corporation serves government, defense, and commercial sectors. The company was incorporated in 1990 and is headquartered in Newark, New York.Show more
- Revenue$191M+16.2%
- EBITDA$15M+4.2%
- Net Income-$6M-193.4%
- EPS (Diluted)-0.35-192.1%
- Gross Margin23.28%-9.5%
- EBITDA Margin7.7%-10.3%
- Operating Margin4.82%-20.4%
- Net Margin-3.09%-180.4%
- ROE-4.46%-191.8%
ULBI Price & Volume
Ultralife Corporation (ULBI) stock price & volume — 10-year historical chart
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Persistent Margin Compression Masks Operational Efficiency Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Deteriorating
Primary Risk:Margin volatility and scale
Key Thesis Takeaways
- Ultralife Corporation faces a challenging fundamental outlook characterized by volatile revenue growth and a structural inability to maintain positive operating margins, which recently dipped to -0.5% in 2026Q1.
- While the company maintains a conservative capital structure with a debt-to-equity ratio of 0.03, the persistent accumulation of a -$40.8 million deficit in retained earnings suggests that historical operational performance has failed to generate sustainable shareholder value.
- Investors should monitor the company's ability to stabilize its cash conversion cycle, as the current disconnect between accounting losses and cash flow generation remains a significant risk to the long-term investment thesis.
Verdict Logic
the company's inability to achieve consistent profitability, highlighted by a net margin of -1.0% in 2026Q1 and a negative retained earnings balance of -$40.8 million, suggests that the current business model lacks the necessary operating leverage to justify a long-term position.
ULBI Growth Metrics
Ultralife Corporation (ULBI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.6%
5 Years12.16%
3 Years13.18%
TTM8.42%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-255.39%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-257.02%
Return on Capital
10 Years4.87%
5 Years3.46%
3 Years5.73%
Last Year4.97%
ULBI Recent Earnings
Ultralife Corporation (ULBI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 8, 2026Metric
Actual
Est
EPS
$0.03-120.0%
$0.15
Rev
$47M-9.5%
$52M
Q2 2026
Mar 10, 2026Metric
Actual
Est
EPS
$0.12-50.0%
$0.24
Rev
$48M-14.9%
$57M
Q4 2025
Nov 18, 2025Metric
Actual
Est
EPS
$0.07-133.3%
$0.21
Rev
$43M-18.2%
$53M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.07-68.2%
$0.22
Rev
$49M-8.4%
$53M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 8, 2026 | $0.03vs $0.15-120.0% | $47Mvs $52M-9.5% |
| Q2 2026 | Mar 10, 2026 | $0.12vs $0.24-50.0% | $48Mvs $57M-14.9% |
| Q4 2025 | Nov 18, 2025 | $0.07vs $0.21-133.3% | $43Mvs $53M-18.2% |
| Q3 2025 | Aug 7, 2025 | $0.07vs $0.22-68.2% | $49Mvs $53M-8.4% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Ultralife Corporation (ULBI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $6.11 | $101.77M | -17.46 | 16.24% | -3.09% | -4.46% | — | |
| $0.82 | $14.36M | -2.05 | 9.22% | -12.48% | -737.52% | — | |
| $0.55 | $48.56M | -5.48 | 10.52% | -7.43% | -0.06% | — | |
| $1.17 | $389.79M | -13.00 | 12.56% | -11.52% | -10.76% | — | |
| $34.96 | $478.44M | -60.28 | 19.56% | -6.32% | -3.4% | — | |
| $0.81 | $8.06M | -0.91 | 13.03% | -55.45% | -79.65% | — |
Compare ULBI vs Peers
Ultralife Corporation (ULBI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ULBI SEC Filings & Documents
Ultralife Corporation (ULBI) SEC filings — annual & quarterly reports (10-K, 10-Q)
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ULBI Frequently Asked Questions
Ultralife Corporation (ULBI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Ultralife Corporation's revenue?
Ultralife Corporation (ULBI) reported $187.9M in revenue for fiscal year 2025. This represents a 1144% increase from $15.1M in 1996.
How fast is Ultralife Corporation growing?
Ultralife Corporation (ULBI) grew revenue by 16.2% over the past year. This is strong growth.
Is ULBI profitable?
Ultralife Corporation (ULBI) reported a net loss of $8.2M for fiscal year 2025.
Dividend & Returns
What is ULBI's return on equity?
Ultralife Corporation (ULBI) has a return on equity (ROE) of -4.5%. Negative ROE indicates the company is unprofitable.
What is Ultralife Corporation's free cash flow?
Ultralife Corporation (ULBI) generated $6.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.