UFP TECHNOLOGIES INC

Listed Company

UFPTCIK 0000914156NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$602.80M

Net Income

$68.31M

Total Assets

$655.08M

Equity

$423.88M

Shares Out

7.71M

Op. Cash Flow

$91.91M

Business

UFP Technologies Inc is a designer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products. It offers single-use and single-patient device components, protective drapes, advanced wound care, disposables, packaging for implants, molded automotive and aerospace components, filtration and insulation products, and custom protective case systems, often produced to customer specifications. The company operates across primary business markets including MedTech, Automotive, Aerospace & Defense, and Industrial/Other. It sells principally through a direct sales force and marketing channels such as websites, trade shows, digital advertising, and supplier relationships.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	603	504	400	—	—
Cost of sales	432	358	288	264	155
Gross profit	170	147	112	90	51
Selling, general, and administrative expenses	77	62	51	46	29
Acquisition costs	334,000	3	0	1	430,000
Change in fair value of contingent consideration	261,000	952,000	4	10	0
Loss on disposal of property, plant and equipment	38,000	106,000	145,000	−6	−14,000
Operating income	92	81	58	55	21
Interest expense, net	10	8	4	—	—
Other expense (income)	21,000	−189,000	117,000	−81,000	−26,000
Income before income tax provision	83	73	54	53	21
Income tax expense	14	14	9	11	5
Net income	68	59	45	42	16
Basic (in dollars per share)	8.87	7.69	5.89	5.52	2.11
Diluted (in dollars per share)	8.75	7.58	5.83	5.45	2.09
Basic (in shares)	8	8	8	8	8
Diluted (in shares)	8	8	8	8	8
Foreign currency translation adjustment	8	−4	878,000	−610,000	0
Other comprehensive income (loss)	8	−4	878,000	−610,000	0
Comprehensive income	76	55	46	41	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	20	13	5	4	11
Receivables, net	83	85	64	55	39
Inventories	87	88	70	54	33
Prepaid expenses	6	4	3	3	3
Refundable income taxes	5	5	1	0	—
Total current assets	201	195	145	116	87
Property, plant and equipment, net	79	71	62	58	57
Goodwill	197	190	113	113	108
Intangible assets, net	141	144	64	68	68
Non-qualified deferred compensation plan	7	6	5	4	4
Right of use assets	19	16	—	—	—
Equity method investment	7	7	0	—	—
Other assets	3	447,000	469,000	4	1
Total assets	655	629	404	378	334
Accounts payable	24	24	22	20	11
Accrued expenses	29	30	22	23	17
Deferred revenue	4	5	7	5	4
Lease liabilities	5	4	—	—	—
Income taxes payable	0	223,000	0	2	909,000
Current portion of long-term debt	13	13	4	4	4
Total current liabilities	75	76	58	56	39
Long-term debt, less current portion	123	177	28	51	71
Deferred income taxes	9	3	428,000	448,000	3
Non-qualified deferred compensation plan	7	6	5	4	4
Lease liabilities	14	12	—	—	—
Other liabilities	4	11	15	18	15
Total liabilities	231	286	118	141	140
Commitments and contingencies (Note 17)	—	—	—	—	—
Preferred stock, value, issued	0	0	0	0	0
Common stock, value, issued	77,000	77,000	76,000	76,000	75,000
Additional paid-in capital	46	41	39	36	34
Retained earnings	375	307	248	203	161
Accumulated other comprehensive income (loss)	4	−4	268,000	−610,000	0
Treasury stock at cost, 29,559 shares at December 31, 2025 and 2024	−587,000	−587,000	—	—	—
Total stockholders' equity	424	343	286	238	194
Total liabilities and stockholders' equity	655	629	404	378	334

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	19	15	11	12	8
Loss on disposal of property, plant and equipment	38,000	106,000	145,000	—	−14,000
Share-based compensation	9	7	5	3	2
Equity method investment net earnings	−119,000	−89,000	0	0	—
Distributions from equity method investment	0	89,000	0	0	—
Deferred income taxes	5	1	816,000	−5	−2
Receivables, net	5	1	−9	−17	−8
Inventories	4	−5	−17	−20	−4
Prepaid expenses	−1	−545,000	−21,000	—	−557,000
Income taxes	−548,000	−3	−3	953,000	893,000
Other assets	−6	629,000	2	−4	−681,000
Accounts payable	−1	−1	2	9	102,000
Accrued expenses	−3	85,000	−888,000	10	1
Deferred revenue	−1	−2	2	1	2
Non-qualified deferred compensation plan and other liabilities	−6	−7	408,000	−3	−1
Net cash provided by operating activities	92	67	41	18	14
Additions to property, plant & equipment	−13	−10	−10	—	—
Acquisition of new businesses, net of cash acquired	−15	−197	0	−21	−96
Purchase of real estate	0	−3	0	—	—
Distributions from equity method investment	0	161,000	0	0	—
Proceeds from sale of fixed assets	51,000	22,000	2,000	7	114,000
Net cash used in investing activities	−28	−210	−10	1	−101
Proceeds from advances on revolving line of credit	69	159	9	44	35
Payments on revolving line of credit	−110	−92	−28	−60	0
Proceeds from the issuance of long-term debt	0	125	0	0	40
Principal payments of long-term debt	−13	−35	−4	−4	0
Payment of contingent consideration	−250,000	−188,000	−5	−5	0
Principal payments on finance lease obligations	−63,000	−73,000	−63,000	−63,000	−29,000
Proceeds from the exercise of stock options	200,000	200,000	700,000	390,000	162,000
Payment of statutory withholding for restricted stock units vested	−4	−5	−3	−2	−923,000
Net cash (used in) provided by financing activities	−58	152	−30	−26	74
Effect of foreign currency exchange rates on cash and cash equivalents	699,000	−635,000	−10,000	193,000	0
Net change in cash and cash equivalents	7	8	812,000	−7	−13

Filings

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