UFP Technologies (UFPT) FY2025 results: revenue $603 million, up 19.5% on the year
UFP Technologies Inc. (UFPT) reported revenue of $603 million for fiscal 2025, the year ended 31 December 2025, up 19.5% on the year before. Net income was $68 million, up 15.8%, and diluted earnings per share $8.75. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.
Revenue
$603 million
+19.5% on the year
FY2018FY2025
Operating margin
15.3%
16.0% a year earlier
FY2018FY2025
Net income
$68 million
+15.8% on the year
FY2018FY2025
Diluted EPS
$8.75
+15.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Full-year sales grew 19.5%: Net sales for 2025 were $602.8 million. Organic growth was approximately 1.5%, against 2024 sales of $504.4 million.
Full-year EPS rose to $8.75: GAAP diluted EPS was $8.75 and adjusted EPS was $9.76, against $7.58 and $8.68 in 2024.
Medical sales grew 23.2% for year: Medical market sales for 2025 were $555.3 million, the largest portion of net sales.
Three new La Romana programs launched: Three new programs were launched at La Romana. A fifth building was taken in 2025, and a sixth facility is to be added soon for anticipated growth.
AJR labor cost was $6.3 million: Incremental labor cost at the Illinois AJR facility was $6.3 million for the year and $1.2 million in the fourth quarter.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
91.9
66.6
41.3
+38.0%
Capital expenditure
n/a
9.7
10.5
Free cash flow
n/a
56.9
30.8
Free cash flow margin
n/a
11.3%
7.7%
Cash from investing
-27.6
-210
-10.5
Cash from financing
-58.2
152
-30.0
Depreciation and amortisation
19.1
14.7
11.4
+30.1%
Share-based compensation
8.9
6.8
4.6
+29.4%
Diluted shares, weighted
8m
8m
8m
+0.2%
Shares outstanding at period end
8m
8m
8m
+0.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
424
343
286
+23.7%
Debt
135
189
32.0
-28.5%
Operating lease liabilities
14.0
12.4
10.7
+12.8%
Finance lease liabilities
0.0
0.0
0.1
-94.1%
Other liabilities
81.8
84.4
75.2
-3.2%
Total liabilities and equity
655
629
404
+4.1%
Fixed assets
79.1
70.6
62.1
+12.1%
Goodwill
197
190
113
+4.1%
Intangible assets
141
144
64.1
-2.4%
Cash and equivalents
20.3
13.4
5.3
+50.9%
Receivables
82.9
84.7
64.4
-2.1%
Inventory
86.9
87.5
70.2
-0.8%
Other assets
47.6
38.9
24.7
+22.6%
Total assets
655
629
404
+4.1%
10-K for the year ended 31 December 2025, filed 27 February 2026: the filing.