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ULTRALIFE CORP

ULBI Clue Score60
United States Fiscal year ends December CIK 0000875657
$6.26 +0.81% Close, 9 Oct 2026
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Price $6.26 −11.71% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue82.5Operating income3.8Net income3.5EPS, diluted0.23Fiscal year 2017Revenue85.5 +3.7%Operating income6.5Net income7.6 +118.0%EPS, diluted0.48Fiscal year 2018Revenue87.2 +1.9%Operating income6.6Net income24.9 +226.0%EPS, diluted1.53Fiscal year 2019Revenue106.8 +22.5%Operating income7.4Net income5.2 −79.1%EPS, diluted32.00Fiscal year 2020Revenue107.7 +0.9%Operating income5.7Net income5.2 +0.5%EPS, diluted0.33Fiscal year 2021Revenue98.3 −8.8%Operating income0.0Net income−0.2 −104.5%EPS, diluted0.05Fiscal year 2022Revenue131.8 +34.2%Operating income0.1Net income−0.1EPS, diluted0.05Fiscal year 2023Revenue158.6 +20.3%Operating income9.5Net income7.2EPS, diluted0.44Fiscal year 2024Revenue164.5 +3.7%Operating income10.0Net income6.3 −12.3%EPS, diluted38.00Fiscal year 2025Revenue191.2 +16.2%Operating income−5.9Net income−5.9 −193.4%EPS, diluted−35.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 82.5 85.5 87.2 106.8 107.7 98.3 131.8 158.6 164.5 191.2
Growth +3.7% +1.9% +22.5% +0.9% −8.8% +34.2% +20.3% +3.7% +16.2%
Operating income 3.8 6.5 6.6 7.4 5.7 0.0 0.1 9.5 10.0 −5.9
Net income 3.5 7.6 24.9 5.2 5.2 −0.2 −0.1 7.2 6.3 −5.9
Growth +118.0% +226.0% −79.1% +0.5% −104.5% −12.3% −193.4%
EPS, diluted 0.23 0.48 1.53 32.00 0.33 0.05 0.05 0.44 38.00 −35.00

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin30.4%Operating margin4.6%Net margin4.3%Free cash flow margin7.8%Fiscal year 2017Gross margin30.7%Operating margin7.6%Net margin8.9%Free cash flow margin6.9%Fiscal year 2018Gross margin29.3%Operating margin7.5%Net margin28.6%Free cash flow margin7.7%Fiscal year 2019Gross margin29.2%Operating margin6.9%Net margin4.9%Free cash flow margin−8.7%Fiscal year 2020Gross margin27.1%Operating margin5.3%Net margin4.9%Free cash flow margin17.3%Fiscal year 2021Gross margin25.1%Operating margin0.0%Net margin−0.2%Free cash flow margin1.5%Fiscal year 2022Gross margin22.3%Operating margin0.1%Net margin−0.1%Free cash flow margin−2.2%Fiscal year 2023Gross margin24.7%Operating margin6.0%Net margin4.5%Free cash flow margin−0.4%Fiscal year 2024Gross margin25.7%Operating margin6.1%Net margin3.8%Free cash flow margin8.9%Fiscal year 2025Gross margin24.1%Operating margin−3.1%Net margin−3.1%Free cash flow margin3.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 30.4% 30.7% 29.3% 29.2% 27.1% 25.1% 22.3% 24.7% 25.7% 24.1%
Operating margin 4.6% 7.6% 7.5% 6.9% 5.3% 0.0% 0.1% 6.0% 6.1% −3.1%
Net margin 4.3% 8.9% 28.6% 4.9% 4.9% −0.2% −0.1% 4.5% 3.8% −3.1%
Free cash flow margin 7.8% 6.9% 7.7% −8.7% 17.3% 1.5% −2.2% −0.4% 8.9% 3.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow7.7Capital expenditure−1.2Free cash flow6.4Buybacks−0.6Fiscal year 2017Operating cash flow7.3Capital expenditure−1.4Free cash flow5.9 −8.6%Fiscal year 2018Operating cash flow10.9Capital expenditure−4.2Free cash flow6.7 +14.0%Buybacks−0.7Fiscal year 2019Operating cash flow−3.0Capital expenditure−6.3Free cash flow−9.3 −238.1%Buybacks−2.0Fiscal year 2020Operating cash flow21.7Capital expenditure−3.1Free cash flow18.6Buybacks0.0Fiscal year 2021Operating cash flow4.3Capital expenditure−2.8Free cash flow1.5 −91.9%Fiscal year 2022Operating cash flow−1.3Capital expenditure−1.7Free cash flow−2.9 −294.7%Fiscal year 2023Operating cash flow1.9Capital expenditure−2.6Free cash flow−0.6Fiscal year 2024Operating cash flow16.6Capital expenditure−1.9Free cash flow14.7Fiscal year 2025Operating cash flow11.0Capital expenditure−3.9Free cash flow7.1 −51.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 7.7 7.3 10.9 −3.0 21.7 4.3 −1.3 1.9 16.6 11.0
Capital expenditure −1.2 −1.4 −4.2 −6.3 −3.1 −2.8 −1.7 −2.6 −1.9 −3.9
Free cash flow 6.4 5.9 6.7 −9.3 18.6 1.5 −2.9 −0.6 14.7 7.1
Growth −8.6% +14.0% −238.1% −91.9% −294.7% −51.6%
Buybacks −0.6 n/a −0.7 −2.0 0.0 n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash10.7Shareholders’ equity68.0Fiscal year 2017Cash18.2Shareholders’ equity79.2Fiscal year 2018Cash25.6Shareholders’ equity104.5Fiscal year 2019Cash7.1Total debt17.2Net cash (debt)−10.0Shareholders’ equity109.7Debt to equity0.16Fiscal year 2020Cash10.6Total debt1.4Net cash (debt)9.2Shareholders’ equity116.8Debt to equity0.01Fiscal year 2021Cash8.3Total debt20.9Net cash (debt)−12.5Shareholders’ equity117.6Debt to equity0.18Fiscal year 2022Cash5.6Total debt21.3Net cash (debt)−15.7Shareholders’ equity116.3Debt to equity0.18Fiscal year 2023Cash10.2Total debt25.6Net cash (debt)−15.4Shareholders’ equity125.3Debt to equity0.20Fiscal year 2024Cash6.9Total debt54.3Net cash (debt)−47.4Shareholders’ equity134.0Debt to equity0.40Fiscal year 2025Cash9.3Total debt49.7Net cash (debt)−40.3Shareholders’ equity130.0Debt to equity0.38
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 10.7 18.2 25.6 7.1 10.6 8.3 5.6 10.2 6.9 9.3
Total debt n/a n/a n/a 17.2 1.4 20.9 21.3 25.6 54.3 49.7
Net cash (debt) n/a n/a n/a −10.0 9.2 −12.5 −15.7 −15.4 −47.4 −40.3
Shareholders’ equity 68.0 79.2 104.5 109.7 116.8 117.6 116.3 125.3 134.0 130.0
Debt to equity n/a n/a n/a 0.16 0.01 0.18 0.18 0.20 0.40 0.38

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
30.4% 30.7% 29.3% 29.2% 27.1% 25.1% 22.3% 24.7% 25.7% 24.1%
4.6% 7.6% 7.5% 6.9% 5.3% 0.0% 0.1% 6.0% 6.1% −3.1%
4.3% 7.4% 7.6% 6.3% 6.5% −0.2% −0.3% 5.7% 5.0% −4.4%
4.3% 8.9% 28.6% 4.9% 4.9% −0.2% −0.1% 4.5% 3.8% −3.1%
7.8% 6.9% 7.7% −8.7% 17.3% 1.5% −2.2% −0.4% 8.9% 3.7%
Spending
7.2% 5.5% 5.2% 6.4% 5.5% 6.9% 5.4% 4.7% 5.0% 5.4%
18.7% 17.6% 16.7% 15.9% 16.3% 18.1% 16.8% 14.0% 14.6% 15.4%
1.5% 1.6% 4.8% 5.9% 2.9% 2.9% 1.3% 1.6% 1.2% 2.0%
2.7% −21.7% −278.0% 21.5% 24.1% n/a n/a 21.4% 22.8% n/a
Returns
5.2% 9.7% 23.8% 4.7% 4.5% −0.2% −0.1% 5.7% 4.7% −4.5%
4.1% 7.9% 20.6% 3.6% 3.8% −0.1% −0.1% 4.0% 2.9% −2.7%
Balance and payout
n/a n/a n/a 0.16 0.01 0.18 0.18 0.20 0.40 0.38
19.9% 18.7% 13.6% 24.1% 15.1% 26.2% 30.9% 29.6% 39.1% 40.0%
9.4% n/a 11.1% n/a 0.0% n/a n/a n/a n/a n/a