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UFP Technologies (UFPT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · UFP Technologies (UFPT) Q3 2026 earnings results →
Q3 2026 Revenue up 12% year over year to $172M · 12¢ of every $1 of revenue kept as net profit · operating margin 16.0%
UFP Technologies made $172M in Q3 2026 (+12% Y/Y): Products $169M, Engineering services $2.0M, Tooling and machinery $1.5M. Operating margin 16.0%, net earnings $20.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $172.4M in Q3 2026, up 12% year over year and down 1% from the previous quarter. Products was the largest line at 98% of revenue. Products added $17.1M year over year (up 11%), 96% of the total change. Engineering services declined 2%.
Gross margin was 29.4%, up 1.8 points from Q3 2025. Operating profit was $27.6M, a 16.0% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 24% reached operating profit, above the 15% margin then. Operating expenses grew 20% against revenue growth of 12%. Net earnings were $20.6M, up 26% year over year. The effective tax rate was 21.1%.
Operating cash flow was $38.5M (up 7% year over year), 187% of net earnings. Non-cash charges added back $5.0M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $10.1M. Capital expenditures of $3.9M left free cash flow of $34.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $172M | +12% | 16.0% | $20.6M | $38.5M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $174M | +15% | 16.2% | $20.9M | $15.6M |
| Q1 2026 | 10-Q | May 8, 2026 | $154M | +4% | 15.2% | $17.5M | $3.2M |
| Q4 2025 | 10-K | Feb 27, 2026 | $149M | +3% | 14.4% | $17.6M | $16.8M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $155M | +6% | 15.1% | $16.4M | $35.9M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $151M | +37% | 16.1% | $17.2M | $25.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $148M | +41% | 15.6% | $17.2M | $13.8M |
Charts
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
Sells to
- ISRG — 22% of its revenue · Stated in 10-K (sentence) · source
- SYK · Stated in 10-K (named, share not stated) · source
About UFP Technologies
The Company is a contract development and manufacturing organization that specializes in single-use and single-patient medical devices. The Company is a vital link in the medical device supply chain and a valued outsourcing partner to many of the world's top medical device manufacturers. Our single-use and single-patient devices and components are used in a wide range of medical devices and packaging for minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods, and orthopedic implants. The consolidated financial statements of the Company include the accounts and results of operations of UFP Technologies, Inc. and its wholly owned subsidiaries, as well as its share of minority-owned equity investments. All significant intercompany balances and transactions have been eliminated in consolidation.
In its own words, from its 10-K, filed Feb 27, 2026.
UFP Technologies against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +5%. Operating margin: 16.0% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| UFPT UFP Technologies | Q3 2026 | $172M | +12% | 16.0% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: UFP Technologies 10-Q on SEC EDGAR · CIK 914156 · Surgical & Medical Instruments & Apparatus
Guidance and outlook
13F: who owns UFPT and who is buying
More on UFPT
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- Is UFP Technologies a takeover target? LBO and rumors
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- UFP Technologies gross margin by quarter
- UFP Technologies operating margin by quarter
- UFP Technologies net income by quarter
- UFP Technologies free cash flow by quarter
- UFP Technologies capital expenditures by quarter
- UFP Technologies Products revenue by quarter
- UFP Technologies Engineering services revenue by quarter
- UFP Technologies Tooling and machinery revenue by quarter