Symbols / ULBI $7.65 -1.42% Ultralife Corporation

Industrials • Electrical Equipment & Parts • United States • NGM
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About

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.

Fundamentals
Scroll to Statements
Market Cap 127.42M Enterprise Value 171.20M Income -5.90M Sales 191.16M Book/sh 7.80 Cash/sh 0.56
Dividend Yield — Payout 0.00% Employees 678 IPO — P/E — Forward P/E 8.50
PEG 3.81 P/S 0.67 P/B 0.98 P/C — EV/EBITDA 18.06 EV/Sales 0.90
Quick Ratio 1.16 Current Ratio 2.83 Debt/Eq 40.72 LT Debt/Eq — EPS (ttm) -0.35 EPS next Y 0.90
EPS Growth — Revenue Growth 10.60% Earnings 2026-05-11 ROA 1.14% ROE -4.50% ROIC —
Gross Margin 24.08% Oper. Margin -3.79% Profit Margin -3.08% Shs Outstand 16.66M Shs Float 9.73M Short Float 0.90%
Short Ratio 1.24 Short Interest — 52W High 9.52 52W Low 4.36 Beta 0.72 Avg Volume 45.74K
Volume 29.68K Target Price — Recom None Prev Close $7.76 Price $7.65 Change -1.42%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
—
Mean price target
2. Current target
$7.65
Latest analyst target
3. DCF / Fair value
$3.81
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.65
Low
—
High
—
Mean
—

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2024-11-15 reit Benchmark Buy → Buy $14
2024-06-27 main Benchmark Buy → Buy $14
2024-03-05 main Benchmark Buy → Buy $13
2023-08-08 reit Benchmark Buy → Buy $12
2021-03-26 init Benchmark — → Buy $12
2013-05-02 down Ardour Capital Hold → Reduce $3
News
RSS: Latest ULBI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-16 WHITMORE BRADFORD T Director and Beneficial Owner of more than 10% of a Class of Security — 187,512 $5.97 $1,196,909
2026-03-12 MANNA MICHAEL EDWARD Chief Executive Officer — 2,000 $6.01 $12,024
2025-12-16 WHITMORE BRADFORD T Director and Beneficial Owner of more than 10% of a Class of Security — 53,000 $5.63 $300,902
2025-12-15 GODDARD JANIE Director — 1,739 $5.75 $9,999
2025-11-24 SHAW ROBERT W II Director — 1,750 $5.67 $9,922
2025-11-19 WHITMORE BRADFORD T Director and Beneficial Owner of more than 10% of a Class of Security — 53,900 $4.97 $267,915
2025-11-19 MANNA MICHAEL EDWARD Chief Executive Officer — 2,000 $4.94 $9,933
2025-08-21 WHITMORE BRADFORD T Director and Beneficial Owner of more than 10% of a Class of Security — 58,664 $6.56 $387,100
2025-06-13 WHITMORE BRADFORD T Director and Beneficial Owner of more than 10% of a Class of Security — 10,000 $7.64 $76,392
2025-06-13 GODDARD JANIE Director — 1,548 $7.68 $11,889
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
191.16
+16.24%
164.46
+3.66%
158.64
+20.33%
131.84
Operating Revenue
191.16
+16.24%
164.46
+3.66%
158.64
+20.33%
131.84
Cost Of Revenue
145.14
+18.83%
122.14
+2.26%
119.44
+16.60%
102.44
Reconciled Cost Of Revenue
145.14
+18.83%
122.14
+2.26%
119.44
+16.60%
102.44
Gross Profit
46.02
+8.76%
42.31
+7.94%
39.20
+33.33%
29.40
Operating Expense
39.74
+22.85%
32.35
+8.83%
29.73
+1.55%
29.27
Research And Development
10.40
+25.76%
8.27
+9.79%
7.53
+6.36%
7.08
Selling General And Administration
29.34
+21.86%
24.08
+8.50%
22.19
+0.02%
22.19
Total Expenses
184.88
+19.67%
154.49
+3.57%
149.17
+13.25%
131.71
Operating Income
6.28
-36.99%
9.96
+5.17%
9.47
+7244.96%
0.13
Total Operating Income As Reported
-5.90
-159.23%
9.96
+5.17%
9.47
+7244.96%
0.13
EBITDA
1.05
-92.68%
14.40
-4.29%
15.04
+203.06%
4.96
Normalized EBITDA
13.23
-8.08%
14.40
-4.29%
15.04
+203.06%
4.96
Reconciled Depreciation
5.50
+32.28%
4.16
+6.29%
3.91
-12.29%
4.46
EBIT
-4.45
-143.40%
10.24
-8.01%
11.13
+2104.55%
0.51
Total Unusual Items
-12.18
0.00
—
—
Total Unusual Items Excluding Goodwill
-12.18
0.00
—
—
Special Income Charges
-12.18
0.00
—
—
Impairment Of Capital Assets
12.18
0.00
—
—
Net Income
-5.90
-193.44%
6.31
-12.30%
7.20
+6147.90%
-0.12
Pretax Income
-8.40
-201.17%
8.30
-8.95%
9.12
+2144.17%
-0.45
Net Non Operating Interest Income Expense
-3.95
-103.76%
-1.94
+3.77%
-2.02
-111.99%
-0.95
Interest Expense Non Operating
3.95
+103.76%
1.94
-3.77%
2.02
+111.99%
0.95
Net Interest Income
-3.95
-103.76%
-1.94
+3.77%
-2.02
-111.99%
-0.95
Interest Expense
3.95
+103.76%
1.94
-3.77%
2.02
+111.99%
0.95
Other Income Expense
-10.72
-3985.51%
0.28
-83.35%
1.66
+340.96%
0.38
Other Non Operating Income Expenses
1.46
+427.90%
0.28
-83.35%
1.66
+340.96%
0.38
Tax Provision
-2.45
-229.33%
1.89
-3.02%
1.95
+698.47%
-0.33
Tax Rate For Calcs
0.00
+27.63%
0.00
+6.54%
0.00
+1.90%
0.00
Tax Effect Of Unusual Items
-3.54
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-5.95
-192.85%
6.41
-10.56%
7.17
+6071.67%
-0.12
Net Income From Continuing Operation Net Minority Interest
-5.90
-193.44%
6.31
-12.30%
7.20
+6147.90%
-0.12
Net Income From Continuing And Discontinued Operation
-5.90
-193.44%
6.31
-12.30%
7.20
+6147.90%
-0.12
Net Income Continuous Operations
-5.95
-192.85%
6.41
-10.56%
7.17
+6071.67%
-0.12
Minority Interests
0.05
+154.64%
-0.10
-412.90%
0.03
+3000.00%
0.00
Normalized Income
2.74
-56.62%
6.31
-12.30%
7.20
+6147.90%
-0.12
Net Income Common Stockholders
-5.90
-193.44%
6.31
-12.30%
7.20
+6147.90%
-0.12
Diluted EPS
—
0.38
-13.64%
0.44
+4500.00%
-0.01
Basic EPS
—
0.38
-13.64%
0.44
+4500.00%
-0.01
Basic Average Shares
—
16.55
+2.10%
16.21
+0.55%
16.12
Diluted Average Shares
—
16.77
+3.33%
16.23
+0.63%
16.12
Diluted NI Availto Com Stockholders
-5.90
-193.44%
6.31
-12.30%
7.20
+6147.90%
-0.12
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
216.91
-1.61%
220.45
+23.66%
178.28
+5.85%
168.43
Current Assets
105.80
+8.89%
97.16
+7.71%
90.20
+14.20%
78.99
Cash Cash Equivalents And Short Term Investments
9.35
+36.34%
6.85
-32.78%
10.20
+80.97%
5.63
Cash And Cash Equivalents
9.35
+36.34%
6.85
-32.78%
10.20
+80.97%
5.63
Cash Financial
9.35
+36.34%
6.85
-32.78%
10.20
+80.97%
5.63
Receivables
33.95
+15.59%
29.37
-7.53%
31.76
+14.33%
27.78
Accounts Receivable
33.95
+15.59%
29.37
-7.53%
31.76
+14.33%
27.78
Gross Accounts Receivable
34.41
+15.63%
29.75
-7.20%
32.06
+14.17%
28.08
Allowance For Doubtful Accounts Receivable
-0.46
-19.01%
-0.38
-28.00%
-0.30
+0.99%
-0.30
Inventory
54.01
+5.15%
51.36
+21.67%
42.22
+2.48%
41.19
Raw Materials
42.15
+16.97%
36.03
+23.84%
29.10
-0.35%
29.20
Work In Process
4.04
-10.13%
4.50
+41.23%
3.19
+15.60%
2.76
Finished Goods
7.81
-27.84%
10.83
+9.03%
9.93
+7.53%
9.23
Prepaid Assets
—
—
—
—
Restricted Cash
—
0.00
-100.00%
0.08
+3.80%
0.08
Other Current Assets
8.50
-11.21%
9.57
+60.92%
5.95
+38.22%
4.30
Total Non Current Assets
111.11
-9.88%
123.29
+39.99%
88.07
-1.53%
89.44
Net PPE
40.40
-0.22%
40.48
+91.72%
21.12
-2.76%
21.72
Gross PPE
112.92
+3.67%
108.92
+24.34%
87.60
-5.46%
92.66
Accumulated Depreciation
-72.52
-5.96%
-68.44
-2.94%
-66.48
+6.29%
-70.94
Properties
0.00
0.00
0.00
0.00
Land And Improvements
4.69
+0.00%
4.69
+268.66%
1.27
+0.00%
1.27
Buildings And Improvements
30.18
+0.23%
30.11
+88.20%
16.00
+2.74%
15.57
Machinery Furniture Equipment
74.92
+3.99%
72.04
+5.48%
68.30
-8.41%
74.57
Construction In Progress
3.13
+50.65%
2.08
+2.16%
2.03
+63.29%
1.25
Goodwill And Other Intangible Assets
56.31
-19.05%
69.56
+32.05%
52.68
-1.26%
53.35
Goodwill
45.38
+0.82%
45.01
+19.79%
37.57
+0.38%
37.43
Other Intangible Assets
10.93
-55.48%
24.56
+62.55%
15.11
-5.11%
15.92
Non Current Deferred Assets
10.49
+24.74%
8.41
-20.38%
10.57
-12.45%
12.07
Non Current Deferred Taxes Assets
10.49
+24.74%
8.41
-20.38%
10.57
-12.45%
12.07
Other Non Current Assets
3.91
-19.03%
4.83
+30.15%
3.71
+60.79%
2.31
Total Liabilities Net Minority Interest
86.78
+0.60%
86.26
+63.23%
52.85
+1.58%
52.03
Current Liabilities
37.33
+27.46%
29.29
+23.43%
23.73
-17.93%
28.91
Payables And Accrued Expenses
30.45
+28.88%
23.63
+26.94%
18.61
-22.51%
24.02
Payables
17.42
+23.04%
14.16
+24.91%
11.34
-29.48%
16.07
Accounts Payable
17.42
+23.04%
14.16
+24.91%
11.34
-29.48%
16.07
Current Accrued Expenses
13.03
+37.60%
9.47
+30.10%
7.28
-8.43%
7.95
Pensionand Other Post Retirement Benefit Plans Current
2.75
-5.39%
2.91
-6.55%
3.12
+7.79%
2.89
Current Debt And Capital Lease Obligation
4.12
+50.00%
2.75
+37.50%
2.00
+0.00%
2.00
Current Debt
4.12
+50.00%
2.75
+37.50%
2.00
+0.00%
2.00
Other Current Borrowings
—
—
—
2.00
Total Non Current Liabilities Net Minority Interest
49.45
-13.21%
56.97
+95.66%
29.12
+25.98%
23.11
Long Term Debt And Capital Lease Obligation
45.53
-11.60%
51.50
+118.01%
23.62
+22.34%
19.31
Long Term Debt
45.53
-11.60%
51.50
+118.01%
23.62
+22.34%
19.31
Non Current Deferred Liabilities
1.00
-30.70%
1.44
-15.81%
1.71
-10.59%
1.92
Non Current Deferred Taxes Liabilities
1.00
-30.70%
1.44
-15.81%
1.71
-10.59%
1.92
Other Non Current Liabilities
2.92
-27.53%
4.03
+6.53%
3.78
+100.37%
1.89
Stockholders Equity
130.00
-2.99%
134.00
+6.91%
125.33
+7.79%
116.28
Common Stock Equity
130.00
-2.99%
134.00
+6.91%
125.33
+7.79%
116.28
Capital Stock
2.11
+0.09%
2.11
+1.40%
2.08
+1.02%
2.06
Common Stock
2.11
+0.09%
2.11
+1.40%
2.08
+1.02%
2.06
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
21.09
+0.11%
21.07
+1.37%
20.78
+1.03%
20.57
Ordinary Shares Number
16.66
+0.14%
16.63
+1.75%
16.35
+1.31%
16.14
Treasury Shares Number
4.44
+0.00%
4.44
+0.00%
4.44
+0.02%
4.44
Additional Paid In Capital
192.86
+0.54%
191.83
+1.41%
189.16
+0.94%
187.41
Retained Earnings
-40.34
-17.12%
-34.44
+15.49%
-40.75
+15.01%
-47.95
Gains Losses Not Affecting Retained Earnings
-3.14
+21.59%
-4.01
-9.45%
-3.66
+2.40%
-3.75
Treasury Stock
21.49
+0.00%
21.49
+0.00%
21.49
+0.04%
21.48
Minority Interest
0.14
-27.60%
0.19
+102.11%
0.10
-24.60%
0.13
Other Equity Adjustments
-3.14
+21.59%
-4.01
-9.45%
-3.66
+2.40%
-3.75
Total Equity Gross Minority Interest
130.13
-3.02%
134.19
+6.98%
125.43
+7.75%
116.40
Total Capitalization
175.52
-5.38%
185.50
+24.53%
148.96
+9.86%
135.59
Working Capital
68.47
+0.88%
67.87
+2.10%
66.47
+32.75%
50.08
Invested Capital
179.65
-4.57%
188.25
+24.70%
150.96
+9.72%
137.59
Total Debt
49.65
-8.48%
54.25
+111.72%
25.62
+20.24%
21.31
Net Debt
40.31
-14.96%
47.40
+207.22%
15.43
-1.58%
15.68
Net Tangible Assets
73.69
+14.36%
64.43
-11.32%
72.65
+15.46%
62.93
Tangible Book Value
73.69
+14.36%
64.43
-11.32%
72.65
+15.46%
62.93
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
10.99
-33.94%
16.64
+762.42%
1.93
+252.73%
-1.26
Cash Flow From Continuing Operating Activities
10.99
-33.94%
16.64
+762.42%
1.93
+252.73%
-1.26
Net Income From Continuing Operations
-5.95
-192.85%
6.41
-10.56%
7.17
+6071.67%
-0.12
Depreciation Amortization Depletion
5.50
+32.28%
4.16
+6.29%
3.91
-12.29%
4.46
Depreciation
3.98
+27.39%
3.12
+3.41%
3.02
-4.88%
3.18
Amortization Cash Flow
1.52
+47.09%
1.03
+16.09%
0.89
-30.66%
1.28
Depreciation And Amortization
5.50
+32.28%
4.16
+6.29%
3.91
-12.29%
4.46
Amortization Of Intangibles
1.52
+47.09%
1.03
+16.09%
0.89
-30.66%
1.28
Other Non Cash Items
0.27
+4.74%
0.25
+295.31%
0.06
+77.78%
0.04
Stock Based Compensation
0.94
+33.95%
0.70
+32.20%
0.53
-31.96%
0.78
Asset Impairment Charge
12.18
0.00
—
—
Deferred Tax
-2.54
-306.25%
1.23
-5.30%
1.30
+235.24%
-0.96
Deferred Income Tax
-2.54
-306.25%
1.23
-5.30%
1.30
+235.24%
-0.96
Change In Working Capital
0.60
-84.51%
3.89
+135.21%
-11.04
-102.51%
-5.45
Change In Receivables
-4.35
-157.30%
7.60
+295.35%
-3.89
+50.64%
-7.88
Changes In Account Receivables
-4.35
-157.30%
7.60
+295.35%
-3.89
+50.64%
-7.88
Change In Inventory
-2.35
-2051.38%
-0.11
+88.44%
-0.94
+89.22%
-8.75
Change In Prepaid Assets
1.69
+144.94%
-3.75
-21.17%
-3.10
-440.07%
0.91
Change In Payables And Accrued Expense
5.78
+2590.23%
0.21
+107.24%
-2.97
-129.43%
10.09
Change In Payable
5.78
+2590.23%
0.21
+107.24%
-2.97
-129.43%
10.09
Change In Account Payable
5.78
+2590.23%
0.21
+107.24%
-2.97
-129.43%
10.09
Change In Other Working Capital
-0.17
-165.63%
-0.06
+54.93%
-0.14
-178.89%
0.18
Investing Cash Flow
-3.87
+92.25%
-49.95
-1857.45%
-2.55
-52.00%
-1.68
Cash Flow From Continuing Investing Activities
-3.87
+92.25%
-49.95
-1857.45%
-2.55
-52.00%
-1.68
Net PPE Purchase And Sale
-3.87
-100.41%
-1.93
+24.29%
-2.55
-52.00%
-1.68
Purchase Of PPE
-3.87
-100.41%
-1.93
+24.29%
-2.55
-52.00%
-1.68
Sale Of PPE
—
—
—
—
Capital Expenditure
-3.87
-100.41%
-1.93
+24.29%
-2.55
-52.00%
-1.68
Net Business Purchase And Sale
0.00
+100.00%
-48.02
0.00
0.00
Purchase Of Business
0.00
+100.00%
-48.02
0.00
0.00
Financing Cash Flow
-4.68
-115.66%
29.86
+443.90%
5.49
+959.85%
0.52
Cash Flow From Continuing Financing Activities
-4.68
-115.66%
29.86
+443.90%
5.49
+959.85%
0.52
Net Issuance Payments Of Debt
-4.75
-116.24%
29.25
+588.31%
4.25
+722.05%
0.52
Issuance Of Debt
0.00
-100.00%
55.00
+658.62%
7.25
+116.42%
3.35
Repayment Of Debt
-4.75
+81.55%
-25.75
-758.23%
-3.00
-5.89%
-2.83
Long Term Debt Issuance
0.00
-100.00%
55.00
+658.62%
7.25
—
Long Term Debt Payments
-4.75
+81.55%
-25.75
-758.23%
-3.00
—
Net Long Term Debt Issuance
-4.75
-116.24%
29.25
+588.31%
4.25
—
Short Term Debt Issuance
—
—
7.25
+116.42%
3.35
Short Term Debt Payments
—
—
-3.00
-5.89%
-2.83
Net Short Term Debt Issuance
—
—
4.25
+722.05%
0.52
Proceeds From Stock Option Exercised
0.10
-95.10%
2.00
+60.18%
1.25
+975.86%
0.12
Net Other Financing Charges
-0.02
+98.28%
-1.39
-17300.00%
-0.01
+93.04%
-0.12
Changes In Cash
2.44
+170.62%
-3.46
-171.05%
4.87
+300.78%
-2.42
Effect Of Exchange Rate Changes
0.05
+44.12%
0.03
+111.26%
-0.30
-9.42%
-0.28
Beginning Cash Position
6.85
-33.31%
10.28
+79.91%
5.71
-32.09%
8.41
End Cash Position
9.35
+36.34%
6.85
-33.31%
10.28
+79.91%
5.71
Free Cash Flow
7.12
-51.59%
14.70
+2460.19%
-0.62
+78.82%
-2.94
Interest Paid Supplemental Data
3.69
+98.87%
1.85
-5.41%
1.96
+110.86%
0.93
Income Tax Paid Supplemental Data
0.15
-79.64%
0.72
-6.11%
0.77
+117.23%
0.35
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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