ULBI Stock Analysis: Ultralife | NASDAQ

Electrical Equipment & Parts | NASDAQ, USA | Market Cap: 106m USD | 12M Return: 124% | US9038991025 | Charts, Fundamentals & Technical Analysis

Total Rating 40
Safety 82
Buy Signal 1.04
Electrical Equipment & Parts
Industry Rotation: -13.2
Market Cap: 106M
Avg Turnover: 154K
Risk 3d forecast
Volatility480%
VaR 5th Pctl68.6%
VaR vs Median-11.7%
Reward TTM
Sharpe Ratio0.95
Rel. Str. IBD99.5
Rel. Str. Peer Group98.8 pctl
Character TTM
Beta1.093
Beta Downside1.241
Hurst Exponent0.439
Choppyness79.4%
Drawdowns 3y
Max DD68.83%
CAGR/Max DD0.41
CAGR/Mean DD0.73
EPS (Earnings per Share) EPS (Earnings per Share) of ULBI over the last years for every Quarter: "2021-09": -0.05, "2021-12": -0.09, "2022-03": 0.01, "2022-06": 0.03, "2022-09": -0.01, "2022-12": -0.01, "2023-03": -0.02, "2023-06": 0.21, "2023-09": 0.1, "2023-12": -0.01, "2024-03": 0.21, "2024-06": 0.18, "2024-09": 0.01, "2024-12": 0.01, "2025-03": 0.13, "2025-06": 0.07, "2025-09": 0.07, "2025-12": -0.4457, "2026-03": -0.03, "2026-06": 0.19,
Last SUE: -0.09
Qual. Beats: 0
Revenue Revenue of ULBI over the last years for every Quarter: 2021-09: 21.761, 2021-12: 23.763, 2022-03: 30.373, 2022-06: 32.126, 2022-09: 33.234, 2022-12: 36.107, 2023-03: 31.916, 2023-06: 42.692, 2023-09: 39.488, 2023-12: 44.548, 2024-03: 41.927, 2024-06: 42.983, 2024-09: 35.694, 2024-12: 43.852, 2025-03: 50.746, 2025-06: 48.561, 2025-09: 43.371, 2025-12: 48.481, 2026-03: 47.445, 2026-06: 47.943,
Rev. CAGR: 8.16%
Rev. Trend: 93.3%
Qual. Beats: 0

Warnings

Interest Coverage Ratio Critical
Extended 3d
Choppy

Tailwinds

Squeeze
Rs Leader
Idiosyncratic Leader
Ep Pivot

Seasonality

Not enough history
Description: ULBI Ultralife
Ultralife 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 amplifier-adaptors, 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. The company sells its products under the Ultralife, Ultralife HiRate, Ultralife Thin Cell, Lithium Power, McDowell Research, AMTI, ABLE, ACCUTRONICS, ACCUPRO, ENTELLION, SWE Southwest Electronic Energy Group, SWE SEASAFE, Excell Battery Group, Criterion Gauge, and POW-R BMS brands through original equipment manufacturers, and industrial and defense supply distributors. In addition, it sells its 9-volt battery to the broader consumer market through national and regional retail chains and online retailers. It serves government, defense, and commercial sectors. The company was incorporated in 1990 and is headquartered in Newark, New York.
Headlines to Watch Out For
Piotroski VR-10 (Strict) 2.0
Net Income: -6.55m TTM > 0 and > 6% of Revenue
FCF/TA: 0.01 > 0.02 and ΔFCF/TA -5.35 > 1.0
NWC/Revenue: 37.28% < 20% (prev 38.64%; Δ -1.36% < -1%)
CFO/TA 0.02 > 3% & CFO 5.13m > Net Income -6.55m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 2.87 > 1.5 & < 3
Outstanding Shares: last quarter (16.7m) vs 12m ago 0.35% < -2%
Gross Margin: 23.86% > 18% (prev 23.94%; Δ -0.07% > 0.5%)
Asset Turnover: 85.67% > 50% (prev 80.94%; Δ 4.73% > 0%)
Interest Coverage Ratio: -1.65 > 6 (EBIT TTM -6.00m / Interest Expense TTM 3.64m)
Altman Z'' 3.02
A: 0.32 (Total Current Assets 107.2m - Total Current Liabilities 37.4m) / Total Assets 216.2m
B: -0.18 (Retained Earnings -38.2m / Total Assets 216.2m)
C: -0.03 (EBIT TTM -6.00m / Avg Total Assets 218.6m)
D: 1.59 (Book Value of Equity 132.5m / Total Liabilities 83.6m)
Altman-Z'' = 3.02 = A
Beneish M -3.05
DSRI: 1.03 (Receivables 34.8m/32.3m, Revenue 187.2m/178.9m)
GMI: 1.00 (GM 23.94% / 23.86%)
AQI: 0.87 (AQ_t 0.32 / AQ_t-1 0.37)
SGI: 1.05 (Revenue 187.2m / 178.9m)
TATA: -0.05 (NI -6.55m - CFO 5.13m) / TA 216.2m)
Beneish M = -3.05 (Cap -4..+1) = AA
What is the price of ULBI shares?

As of October 29, 2026, the stock is trading at USD 15.61 with a total of 2,502,442 shares traded. Over the past week, the price has changed by +151.37%, over one month by +158.02%, over three months by +191.23% and over the past year by +123.96%.

Current recommended Stop Loss: 15.20 (which is 2.6% or 1.4 ATR below the current price).

Is ULBI a buy, sell or hold?

Ultralife has no consensus analysts rating.

What are the forecasts/targets for the ULBI price?
Analysts Target Price 14 -10.3%
Ultralife (ULBI) - Fundamental Data Overview as of 29 October 2026
Market Cap USD = 106.0m (106.0m USD * 1.0 USD.USD)
P/E Forward = 15.3374
P/S = 0.566
P/B = 0.7583
P/EG = 3.8099
Revenue TTM = 187.2m USD
EBIT TTM = -6.00m USD
EBITDA TTM = -627k USD
Long Term Debt = 42.9m USD (from longTermDebt, last quarter)
Short Term Debt = 2.66m USD (from shortTermDebt, last quarter)
Debt = 47.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 40.8m USD (calculated: Debt 47.5m - CCE 6.66m)
Enterprise Value = 146.8m USD (106.0m + Debt 47.5m - CCE 6.66m)
Interest Coverage Ratio = -1.65 (Ebit TTM -6.00m / Interest Expense TTM 3.64m)
EV/FCF = 72.29x (Enterprise Value 146.8m / FCF TTM 2.03m)
FCF Yield = 1.38% (FCF TTM 2.03m / Enterprise Value 146.8m)
FCF Margin = 1.08% (FCF TTM 2.03m / Revenue TTM 187.2m)
Net Margin = -3.50% (Net Income TTM -6.55m / Revenue TTM 187.2m)
Gross Margin = 23.86% ((Revenue TTM 187.2m - Cost of Revenue TTM 142.6m) / Revenue TTM)
Gross Margin QoQ = 28.92% (prev 20.75%)
Tobins Q-Ratio = 0.68 (Enterprise Value 146.8m / Total Assets 216.2m)
Interest Expense / Debt = 7.65% (Interest Expense 3.64m / Debt 47.5m)
Taxrate = 15.67% (468k / 2.99m)
NOPAT = -5.06m (EBIT -6.00m * (1 - 15.67%)) [loss with tax shield]
Current Ratio = 2.87 (Total Current Assets 107.2m / Total Current Liabilities 37.4m)
Debt / Equity = 0.36 (Debt 47.5m / totalStockholderEquity, last quarter 132.5m)
 Debt / EBITDA = -65.15 (negative EBITDA) (Net Debt 40.8m / EBITDA -627k)
 Debt / FCF = 20.11 (Net Debt 40.8m / FCF TTM 2.03m)
Total Stockholder Equity = 132.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.00% (Net Income -6.55m / Total Assets 216.2m)
RoE = -4.95% (Net Income TTM -6.55m / Total Stockholder Equity 132.3m)
RoCE = -3.42% (EBIT -6.00m / Capital Employed (Equity 132.3m + L.T.Debt 42.9m))
 RoIC = -2.89% (negative operating profit) (NOPAT -5.06m / Invested Capital 174.8m)
 WACC = 8.43% (E(106.0m)/V(153.5m) * Re(9.31%) + D(47.5m)/V(153.5m) * Rd(7.65%) * (1-Tc(0.16)))
Discount Rate = 9.31% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -9.08 | Cagr: 0.53%
[DCF] Terminal Value 72.81% ; FCFF base≈6.78m ; Y1≈5.94m ; Y5≈4.80m
[DCF] Fair Price = 2.12 (EV 76.1m - Net Debt 40.8m = Equity 35.3m / Shares 16.7m; r=8.43% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.09 | # QB: 0
Revenue Correlation: 93.29 | Revenue CAGR: 8.16% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.93 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+22.4% | GrowthRev=+6.2%