Ultralife Corporation (ULBI) AI Stock Analysis

Ultralife Corporation specializes in the design, manufacturing, installation, and maintenance of power, communication, and electronics systems globally. The company operates through two main segments: Battery & Energy Products and Communications Systems. The Battery & Energy Products unit provides a wide range of batteries including lithium 9-volt, cylindrical, thin lithium manganese dioxide, lithium-ion cells, multi-kilowatt module battery systems, uninterruptible power supplies, and rugged charging systems. The Communications Systems segment supplies radio frequency amplifiers, power supplies, cables, amplified speakers, and integrated solutions tailored for military vehicle and man-portable applications, serving fixed, vehicle-mounted, manpack, and handheld transceivers.

Ultralife expanded its annual revenue from $98.3M in FY2021 to $191.2M in FY2025, delivering a 5-year revenue CAGR of 12.2%. Profitability has fluctuated over this span, shifting from a net income of $6.3M and gross margin of 25.7% in FY2024 to a net loss of -$5.9M and gross margin of 23.3% in FY2025, resulting in an EPS of -$0.18. Over the trailing twelve months, revenue reached $187.2M with an operating margin of 9.0% and a net profit margin of -3.5%. For the latest quarter ended June 30, 2026, quarterly revenue fell 1.3% year-over-year, while quarterly earnings grew 200.0%.

As of June 30, 2026, Ultralife held $6.7M in cash and short-term investments alongside $47.5M in total debt, resulting in net debt of $40.8M. Liquidity is supported by a current ratio of 2.87, and the company has a debt-to-equity ratio of 0.36 against shareholders' equity of $132.5M. In FY2025, Ultralife generated $11.0M in operating cash flow and $7.1M in free cash flow after deploying $3.9M in capital expenditures. Share count expanded by 3.9% over the past 5 years.

Ultralife trades at an enterprise value of $132.9M and a price-to-sales multiple of 0.5x, which is lower than the 1.5x median of its US-listed Industrials peers. Its forward P/E stands at 15.3x compared to the peer median of 17.2x, while its EV-to-EBITDA ratio is 149.7x relative to the peer median of 13.9x. The stock has underperformed broader benchmarks, generating a 1-year return of -11.7% and a 5-year return of -15.2%, compared to gains of 16.8% and 83.0%, respectively, for the S&P 500.

One analyst covering Ultralife projects next fiscal year revenue of $224.9M, representing 6.2% growth, and EPS of $0.93, reflecting 22.4% growth. The analyst mean price target is $14.00, representing an upside of 132.6% over the last close of $6.02. Over the last four quarters, the company recorded 0 EPS beats. The company's next earnings date is scheduled for November 17, 2026.

This page is an AI-written research summary of Ultralife Corporation (ULBI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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