Latest revenue
$987.5M
as of 2026-03-31
Latest net income
—
as of 2026-03-31
Net margin
—
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $2.68B
- Enterprise value
- $2.68B
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $12.38
- 52-wk low
- $4.00
- Beta
- —
- Shares out
- 242.8M
5-year trend
dashed bar = fiscal Q4 derived from 10-K annual − Q1 − Q2 − Q3 (SEC requires only three 10-Qs per year).
What this company does
Uniti operates a 240,000-mile fiber network across 47 states, selling broadband, voice, and enterprise connectivity to over a million residential, business, and wholesale customers. The Kinetic segment, which provides fiber and copper internet plus voice service to homes and small businesses in 18 mostly Southern and Midwestern states, generates the largest share of the $2.23 billion in annual revenue, complemented by Uniti Solutions and Fiber Infrastructure units. Uniti closed its August 2025 merger with Windstream, abandoned REIT status, and now runs as an integrated fiber operator instead of a landlord leasing infrastructure to its former tenant.
Generated from UNIT's filing dated 2026-03-02
Key risks
- Leverage and execution: post-Merger Uniti is no longer a REIT and must integrate Windstream while funding heavy fiber capex across 240,000 route miles.
- Copper-to-fiber competition: Kinetic's 1,400 markets face cable and fiber overbuilders; subscriber growth depends on costly fiber expansion versus entrenched national brands.
- Reverse-merger accounting complexity: Windstream is legal acquirer, Old Uniti accounting acquirer; 2025 net income of $1.3B reflects merger accounting, not run-rate earnings.
Generated from UNIT's filing dated 2026-03-02
Profitability
Operating margin
11.7%
76.7%Leverage
Debt / equity
30.65×
1071.8%Long-term debt / equity
25.06×
1162.5%Debt / assets
96.8%
33.9%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $987.5M | +236.0% | — | — | — |
Q3 2025 2025-09-30 | $722.6M | +147.3% | — | — | — |
Q1 2025 2025-03-31 | $293.9M | — | — | — | — |
Q3 2024 2024-09-30 | $292.2M | — | — | — | — |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Telephone Communications (No Radiotelephone) · SIC 4813
Your notes
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Insider activity
Insider buying
$0
Insider selling
$58.6K
Net activity
−$58.6K
Distinct insiders
1
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns UNIT
Institutional value
$721.6M
Total shares held
80.2M
Distinct holders
149
-85 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 27.1M | $253.8M | +96.5K (+0.4%) | Added |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 12.2M | $114.3M | — | New |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 9.9M | $92.7M | — | New |
| 4 | Allianz Asset Management GmbH | 3.4M | $32.4M | +2.3K (+0.1%) | Added |
| 5 | JPMORGAN CHASE & CO | 2.2M | $17.5M | +1.1M (+102.5%) | Added |
| 6 | Bank of New York Mellon Corp | 1.4M | $12.9M | -10.5K (-0.8%) | Trimmed |
| 7 | DEUTSCHE BANK AG\ | 1.4M | $12.8M | -1.4M (-50.6%) | Trimmed |
| 8 | DIMENSIONAL FUND ADVISORS LP | 1.3M | $12.5M | -521.0K (-28.1%) | Trimmed |
| 9 | VANGUARD FIDUCIARY TRUST CO | 1.2M | $11.3M | — | New |
| 10 | Penn Capital Management Company, LLC | 1.1M | $10.7M | -127.9K (-10.1%) | Trimmed |
| 11 | BW Gestao de Investimentos Ltda. | 1.0M | $9.7M | — | New |
| 12 | Arena Capital Advisors, LLC- CA | 1.0M | $9.6M | -150.0K (-12.8%) | Trimmed |
| 13 | Invesco Ltd. | 998.1K | $9.4M | -831.8K (-45.5%) | Trimmed |
| 14 | PRINCIPAL FINANCIAL GROUP INC | 870.9K | $8.2M | +17.0K (+2.0%) | Added |
| 15 | UBS Group AG | 760.4K | $7.1M | +64.6K (+9.3%) | Added |
| 16 | NEW YORK STATE COMMON RETIREMENT FUND | 742.3K | $7.0M | +111.6K (+17.7%) | Added |
| 17 | CITIGROUP INC | 720.7K | $6.8M | +151.3K (+26.6%) | Added |
| 18 | PINNACLE ASSOCIATES LTD | 713.0K | $6.7M | -57.1K (-7.4%) | Trimmed |
| 19 | Public Sector Pension Investment Board | 641.3K | $6.0M | +21.2K (+3.4%) | Added |
| 20 | Nuveen, LLC | 636.2K | $6.0M | +152.7K (+31.6%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With 1.9M fiber-passed households but only ~500K residential fiber subs, what specifically is gating penetration above ~26%, and when do you exit copper?
- 2
Post-Merger you've lost REIT status—quantify the incremental cash tax leakage in 2026 and how it reshapes your leverage and dividend capacity.
- 3
The $1,304.7M net income on $2,234.5M revenue clearly reflects merger accounting gains—what is normalized post-Merger EBITDA and free cash flow run-rate?
Refreshed when UNIT files a new report · last from 2026-03-02