UFP Technologies, Inc., together with its subsidiaries, designs and manufactures solutions for medical devices, sterile packaging, and other engineered custom products in the United States. The company provides protective drapes for robotic surgery, patient handling and comfort, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, components for cardiac implants, dispenser coils for catheters, and biopharma drug manufacturing. It also offers equipment protection and packaging for firearms, unmanned aerial vehicles/drones, weapon systems, electronic devices communications equipment, and tools and repair kits; cushion and protective packaging; acoustic and thermal insulation components for automotive, aerospace, consumer, and industrial; filtration for small engines, air conditioners, humidifiers, refrigerators, electronic air cleaners, forced air appliances and industrial compressors; fluid management; and seals and gaskets for automotive manufacturing chemical processing, building and construction applications. In addition, the company provides uniform and tactical gear, such as backpack straps and padding, uniform knee and elbow pads, duty belts, holsters, and helmet padding and others; sports and leisure including custom helmet linings, athletic braces, and shoe insoles; and trim and structural components, consist of load floors, sunshades, package trays, back panel, and seat backs. The company serves the medical, aerospace and defence, automotive, consumer, electronics, and industrial markets. It markets and sells its products through a direct sales force. The company was founded in 1963 and is headquartered in Newburyport, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $603M | $111M | $68M | $79M | 16.1% | 19.5% | 15.8% |
| 2024 | $504M | $96M | $59M | $57M | 17.2% | 26.1% | 31.3% |
| 2023 | $400M | $69M | $45M | $31M | 15.7% | 13.1% | 7.5% |
| 2022 | $354M | $67M | $42M | $4M | 17.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 353.79 | 400.07 | 504.42 | 602.80 |
| Operating Revenue | - | 353.79 | 400.07 | 504.42 | 602.80 |
| Cost Of Revenue | - | 263.53 | 287.85 | 357.73 | 432.39 |
| Gross Profit | - | 90.26 | 112.22 | 146.69 | 170.41 |
| Operating Expense | - | 45.80 | 50.89 | 62.22 | 77.44 |
| Selling General And Administration | - | 45.80 | 50.89 | 62.22 | 77.44 |
| Total Expenses | - | 309.33 | 338.74 | 419.95 | 509.83 |
| Operating Income | - | 44.46 | 61.34 | 84.48 | 92.97 |
| Total Operating Income As Reported | - | 55.40 | 57.66 | 80.90 | 92.34 |
| EBITDA | - | 67.37 | 68.95 | 95.80 | 111.47 |
| Normalized EBITDA | - | 56.43 | 72.63 | 99.38 | 112.10 |
| EBIT | - | 55.48 | 57.55 | 81.09 | 92.32 |
| Interest Income | 0.05 | - | - | - | - |
| Interest Expense | - | 2.76 | 3.64 | 8.06 | 9.80 |
| Net Interest Income | - | -2.76 | -3.64 | -8.06 | -9.80 |
| Other Non Operating Income Expenses | - | 0.08 | -0.12 | 0.19 | -0.02 |
| Other Income Expense | - | 11.02 | -3.79 | -3.39 | -0.65 |
| Interest Income Non Operating | 0.05 | - | - | - | - |
| Interest Expense Non Operating | - | 2.76 | 3.64 | 8.06 | 9.80 |
| Net Non Operating Interest Income Expense | - | -2.76 | -3.64 | -8.06 | -9.80 |
| Pretax Income | - | 52.72 | 53.90 | 73.03 | 82.51 |
| Tax Provision | - | 10.93 | 8.98 | 14.04 | 14.20 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 2.26 | -0.61 | -0.69 | -0.11 |
| Net Income Continuous Operations | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Net Income From Continuing And Discontinued Operation | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Net Income From Continuing Operation Net Minority Interest | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Net Income | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Net Income Common Stockholders | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Net Income Including Noncontrolling Interests | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Normalized Income | - | 33.12 | 47.98 | 61.87 | 68.84 |
| Diluted NI Availto Com Stockholders | - | 41.79 | 44.92 | 58.98 | 68.31 |
| Basic Average Shares | - | 7.56 | 7.62 | 7.67 | 7.70 |
| Diluted Average Shares | - | 7.66 | 7.70 | 7.78 | 7.80 |
| Reconciled Depreciation | - | 11.89 | 11.41 | 14.72 | 19.15 |
| Reconciled Cost Of Revenue | - | 263.53 | 287.85 | 357.73 | 432.39 |
| Total Unusual Items | - | 10.94 | -3.67 | -3.58 | -0.63 |
| Total Unusual Items Excluding Goodwill | - | 10.94 | -3.67 | -3.58 | -0.63 |
| Special Income Charges | - | 10.94 | -3.67 | -3.58 | -0.63 |
| Gain On Sale Of Business | 0 | 15.65 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | - | 10.86 | 3.53 | 3.47 | 0.60 |
| Gain On Sale Of Ppe | - | 6.15 | -0.14 | -0.11 | -0.04 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| UFP Technologies, Inc.this co. | UFPT | $1.7B | 25.43 | 4.10 | 16.1% | 16.79 |
| Rapport Therapeutics, Inc. | RAPP | $1.8B | - | -178.20 | -23.0% | - |
| Surgery Partners, Inc. | SGRY | $1.8B | -22.97 | 1.04 | -4.5% | 9.86 |
| SELLAS Life Sciences Group, Inc. | SLS | $1.8B | -66.17 | 25.08 | -37.9% | -60.37 |
| Biohaven Ltd. | BHVN | $1.7B |
| - |
| - |
| - |
| - |
| - |
| -2.32 |
| 32.96 |
| -1418.8% |
| -2.41 |
| Agios Pharmaceuticals, Inc. | AGIO | $1.7B | -4.15 | 1.44 | -34.6% | -3.56 |
| Sionna Therapeutics, Inc. | SION | $1.7B | -22.66 | 5.56 | -24.5% | -18.75 |
| Taysha Gene Therapies, Inc. | TSHA | $1.7B | -15.53 | 6.85 | -44.1% | -13.39 |
| Novavax, Inc. | NVAX | $1.7B | 3.81 | -13.12 | -344.7% | 3.42 |
| Peer Median | - | -15.53 | 3.50 | -36.3% | -3.56 | |