FABRINET vs UBIQUITI INC., two Communication Equipment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Ubiquiti earns 54.9% on its assets, Fabrinet 12%, and the distance is two business models sharing one industry code: a lean-distribution networking brand that keeps 36.9% of revenue as operating profit, next to a contract manufacturer that keeps 9.9% assembling other companies' optics. Both run without debt. The multiples land closer than the economics, 33.9 and 45.2 times earnings, with the premium on the assembler, because its customers are the AI datacenter buildout and Ubiquiti's are prosumers. Free cash favors the brand, 2.3% against 0.2%. Owning the fatter margins is currently cheaper than owning the hotter order book.
Comparison updated 2026-07-10.
| Metric | FN | UI |
|---|---|---|
| Price | $525.20 | $526.55 |
| Market cap | $19.1B | $31.9B |
| Sector | Communication Equipment | Communication Equipment |
| Stage | Growth | Growth |
| Implied growth (priced in) | — | +40.3% |
| P/E | 45.2 | 33.9 |
| P/B | 8.27 | 26.53 |
| P/S | 4.50 | 10.30 |
| EV/EBITDA | 43.3 | 28.4 |
| Revenue growth | +29.4% | +34.4% |
| Gross margin | 11.9% | 47.0% |
| Operating margin | 9.9% | 36.9% |
| Net margin | 9.9% | 30.4% |
| Return on equity | 18.3% | 78.4% |
| Return on assets | 12.0% | 54.9% |
| Return on invested capital | 16.9% | 74.2% |
| FCF yield | 0.2% | 2.3% |
| Dividend yield | — | 0.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.55 | 3.56 |
| Altman Z (solvency) | 8.90 | 10.00 |
| Piotroski F (quality) | 5 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.