NasdaqGM:ULBI

Stock Analysis Report

Executive Summary

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide.


Snowflake Analysis

Adequate balance sheet with questionable track record.


Similar Companies

Share Price & News

How has Ultralife's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ULBI's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.7%

ULBI

10.7%

US Electrical

9.9%

US Market


1 Year Return

-47.4%

ULBI

-20.8%

US Electrical

-11.9%

US Market

Return vs Industry: ULBI underperformed the US Electrical industry which returned -20.1% over the past year.

Return vs Market: ULBI underperformed the US Market which returned -11.5% over the past year.


Shareholder returns

ULBIIndustryMarket
7 Day1.7%10.7%9.9%
30 Day-23.7%-23.0%-15.0%
90 Day-26.9%-30.6%-21.5%
1 Year-47.4%-47.4%-19.2%-20.8%-10.0%-11.9%
3 Year-0.9%-0.9%-6.6%-12.0%12.3%5.1%
5 Year35.7%35.7%6.2%-4.2%32.5%18.1%

Price Volatility Vs. Market

How volatile is Ultralife's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ultralife undervalued compared to its fair value and its price relative to the market?

16.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ULBI's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ULBI's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ULBI is poor value based on its PE Ratio (16.4x) compared to the Electrical industry average (14.9x).

PE vs Market: ULBI is poor value based on its PE Ratio (16.4x) compared to the US market (13x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ULBI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ULBI is good value based on its PB Ratio (0.8x) compared to the US Electrical industry average (1.3x).


Next Steps

Future Growth

How is Ultralife forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.0%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ultralife has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Ultralife performed over the past 5 years?

52.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ULBI has high quality earnings.

Growing Profit Margin: ULBI's current net profit margins (4.9%) are lower than last year (28.6%).


Past Earnings Growth Analysis

Earnings Trend: ULBI has become profitable over the past 5 years, growing earnings by 52.1% per year.

Accelerating Growth: ULBI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ULBI had negative earnings growth (-79.1%) over the past year, making it difficult to compare to the Electrical industry average (-1.4%).


Return on Equity

High ROE: ULBI's Return on Equity (4.8%) is considered low.


Next Steps

Financial Health

How is Ultralife's financial position?


Financial Position Analysis

Short Term Liabilities: ULBI's short term assets ($70.4M) exceed its short term liabilities ($17.2M).

Long Term Liabilities: ULBI's short term assets ($70.4M) exceed its long term liabilities ($17.6M).


Debt to Equity History and Analysis

Debt Level: ULBI's debt to equity ratio (15.6%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if ULBI's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: ULBI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: ULBI's interest payments on its debt are well covered by EBIT (20x coverage).


Balance Sheet

Inventory Level: ULBI has a high level of physical assets or inventory.

Debt Coverage by Assets: ULBI's debt is covered by short term assets (assets are 4.1x debt).


Next Steps

Dividend

What is Ultralife's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ULBI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ULBI's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ULBI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ULBI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ULBI's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Mike Popielec (57yo)

9.25s

Tenure

US$955,717

Compensation

Mr. Michael D. Popielec, also known as Mike, has been the President and Chief Executive Officer of Ultralife Corporation since December 30, 2010. Mr. Popielec served as the Group President of Applied Techn ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD955.72K) is above average for companies of similar size in the US market ($USD601.33K).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Popielec
CEO, President & Director9.25yrsUS$955.72k1.7% $1.5m
Philip Fain
CFO, Treasurer & Corporate Secretary10.33yrsUS$452.60k0.60% $513.0k
James J. Rasmussen
President of Communication Systemno datano datano data
Michael Manna
President of Battery & Energy Products0.50yrno datano data

9.3yrs

Average Tenure

Experienced Management: ULBI's management team is seasoned and experienced (9.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Popielec
CEO, President & Director9.25yrsUS$955.72k1.7% $1.5m
Bradford Whitmore
Independent Chairman10yrsUS$97.50kno data
Ranjit Singh
Independent Director19.58yrsUS$90.00k0.50% $430.9k
Thomas Saeli
Independent Director10yrsUS$88.50k0.38% $326.4k
Robert Shaw
Independent Director9.75yrsUS$86.50k0.34% $288.9k

10.0yrs

Average Tenure

62yo

Average Age

Experienced Board: ULBI's board of directors are seasoned and experienced ( 10 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ULBI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ultralife Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ultralife Corporation
  • Ticker: ULBI
  • Exchange: NasdaqGM
  • Founded: 1990
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: US$85.702m
  • Shares outstanding: 15.87m
  • Website: https://www.ultralifecorporation.com

Number of Employees


Location

  • Ultralife Corporation
  • 2000 Technology Parkway
  • Newark
  • New York
  • 14513
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ULBINasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDDec 1992
ULBDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1992

Biography

Ultralife Corporation, together with its subsidiaries, designs, manufactures, installs, and maintains power, and communication and electronics systems worldwide. The company serves government, defense, and commercial sectors. 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, Lithium Power, McDowell Research, AMTI, ABLE, ACCUTRONICS, ACCUPRO, ENTELLION, 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 Internet retailers. Ultralife Corporation was founded in 1990 and is headquartered in Newark, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/29 00:59
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.