Technology · Hardware, Equipment & Parts
Price
$87.16
Market Cap
$4.1B
Employees
468
Beta
1.54
Avg Volume
861,324
CEO
Steven V. Abramson
Business Description
Universal Display Corporation is dedicated to the investigation, advancement, and market deployment of organic light-emitting diode (OLED) innovations and their constituent materials, primarily for use in display and solid-state illumination applications. The company safeguards its intellectual property with a vast global portfolio of roughly 5,500 patents, encompassing both granted and pending applications, which it either owns outright, licenses exclusively, or holds sole sublicensing authority over. Manufacturers of displays, lighting, and other goods procure its specialized UniversalPHOLED materials. Beyond these core offerings, Universal Display actively cultivates and commercializes a diverse array of other OLED device and production methodologies. Notable among these are FOLED (flexible OLEDs for crafting devices on pliable substrates), OVJP (an organic vapor jet printing technique), thin-film encapsulation (critical for packaging flexible OLEDs and other thin-film components, as well as serving as a protective barrier for plastic bases), and UniversalP2OLED (phosphorescent OLEDs designed for printing). The corporation also extends technology development and support services, collaborating with and assisting external entities in launching their OLED products. Furthermore, it undertakes contract research initiatives, delving into the synthesis, development, and commercialization of chemical materials for uses outside the OLED domain. Established in 1985, Universal Display Corporation maintains its primary corporate offices in Ewing, New Jersey.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
17.12
Stock Price: $87.16
EPS (Diluted): 5.09
EPS (Diluted): 5.09
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.15
Stock Price: $87.16
Total Equity: $1.76B
Shares: 47,658,295
Total Equity: $1.76B
Shares: 47,658,295
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
15.99
Market Cap: $4.07B
Total Debt: $23.97M
Cash: $138.35M
EBITDA: $341.38M
Total Debt: $23.97M
Cash: $138.35M
EBITDA: $341.38M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$5.5B
Market Cap: $4.07B
Total Debt: $23.97M
Cash: $138.35M
Total Debt: $23.97M
Cash: $138.35M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
73.4%
Gross Profit: $477.78M
Revenue: $650.61M
Revenue: $650.61M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
38.5%
Operating Income: $250.78M
Revenue: $650.61M
Revenue: $650.61M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
37.2%
Net Income: $242.08M
Revenue: $650.61M
Revenue: $650.61M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
13.7%
Net Income: $242.08M
Total Equity: $1.76B
Total Equity: $1.76B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
12.5%
Operating Income: $250.78M
Tax Rate: 17.9%
Equity: $1.76B
Total Debt: $23.97M
Cash: $138.35M
Tax Rate: 17.9%
Equity: $1.76B
Total Debt: $23.97M
Cash: $138.35M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
10.06
Current Assets: $1.09B
Current Liabilities: $108.01M
Current Liabilities: $108.01M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.01
Short-Term Debt: $4.75M
Long-Term Debt: $19.22M
Total Debt: $23.97M
Total Equity: $1.76B
Long-Term Debt: $19.22M
Total Debt: $23.97M
Total Equity: $1.76B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$13.65
Revenue: $650.61M
Shares: 47,658,295
Shares: 47,658,295
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$36.95
Total Equity: $1.76B
Shares: 47,658,295
Shares: 47,658,295
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$3.24
Operating CF: $210.83M
CapEx: -$56.47M
Shares: 47,658,295
CapEx: -$56.47M
Shares: 47,658,295
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.5%
Last Dividend: N/A
Stock Price: $87.16
Stock Price: $87.16
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $242.08M
Net Income: $242.08M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares OLED against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $553.5M | $616.6M | $576.4M | $647.7M | $650.6M |
| Cost of Revenue | $115.0M | $127.9M | $135.4M | $148.5M | $172.8M |
| Gross Profit | $438.5M | $488.7M | $441.1M | $499.2M | $477.8M |
| Operating Expenses | $210.9M | $221.6M | $223.9M | $260.4M | $227.0M |
| Operating Income | $227.6M | $267.1M | $217.2M | $238.8M | $250.8M |
| Net Income | $184.2M | $210.1M | $203.0M | $222.1M | $242.1M |
| EBITDA | $270.2M | $310.5M | $288.6M | $316.3M | $341.4M |
| EPS | $3.87 | $4.41 | $4.25 | $4.66 | $5.09 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $312.0M | $93.4M | $92.0M | $99.0M | $138.4M |
| Total Current Assets | $925.9M | $899.5M | $917.1M | $899.8M | $1.1B |
| Total Assets | $1.5B | $1.5B | $1.7B | $1.8B | $2.0B |
| Current Liabilities | $187.9M | $135.7M | $118.8M | $125.4M | $108.0M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $19.2M |
| Total Liabilities | $367.0M | $257.5M | $221.7M | $215.8M | $211.8M |
| Total Equity | $1.1B | $1.3B | $1.4B | $1.6B | $1.8B |
| Retained Earnings | $500.2M | $653.3M | $789.6M | $934.7M | $1.1B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $191.1M | $126.8M | $154.8M | $253.7M | $210.8M |
| Capital Expenditure | -$43.6M | -$47.2M | -$126.4M | -$42.6M | -$56.5M |
| Free Cash Flow | $147.6M | $79.6M | $28.4M | $211.1M | $154.4M |
| Acquisitions (net) | $394,000 | $4.7M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | -$32.9M |
| Net Change in Cash | -$318.0M | -$218.6M | -$1.4M | $7.0M | $39.4M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 4:20pm (16h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$650.9M $649.7M – $652.9M
|
$646.2M $641.6M – $652.2M
|
$698.7M $684.3M – $712.7M
|
$791.8M $791.7M – $791.8M
|
| EBITDA |
$359.2M $358.6M – $360.3M
|
$356.7M $354.1M – $360.0M
|
$385.6M $377.7M – $393.4M
|
$437.0M $436.9M – $437.0M
|
| Net Income |
$235.9M $231.6M – $240.2M
|
$200.8M $197.4M – $213.7M
|
$237.6M $232.9M – $242.4M
|
$288.9M $281.3M – $296.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +11.4% | -6.5% | +12.4% | +0.5% |
| Gross Profit Growth | +11.4% | -9.8% | +13.2% | -4.3% |
| Operating Income Growth | +17.3% | -18.7% | +10.0% | +5.0% |
| Net Income Growth | +14.0% | -3.4% | +9.4% | +9.0% |
| EBITDA Growth | +14.9% | -7.1% | +9.6% | +7.9% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:20pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-16 | $0.50 | 2026-04-28 | 2026-06-16 | 2026-06-30 |
| 2026-03-17 | $0.50 | 2026-02-17 | 2026-03-17 | 2026-03-31 |
| 2025-12-17 | $0.45 | 2025-11-04 | 2025-12-17 | 2025-12-31 |
| 2025-09-16 | $0.45 | 2025-07-29 | 2025-09-16 | 2025-09-30 |
| 2025-06-16 | $0.45 | 2025-04-29 | 2025-06-16 | 2025-06-30 |
| 2025-03-17 | $0.45 | 2025-02-20 | 2025-03-17 | 2025-03-31 |
| 2024-12-17 | $0.40 | 2024-10-30 | 2024-12-17 | 2024-12-31 |
| 2024-09-16 | $0.40 | 2024-08-01 | 2024-09-16 | 2024-09-30 |
| 2024-06-14 | $0.40 | 2024-05-02 | 2024-06-14 | 2024-06-28 |
| 2024-03-14 | $0.40 | 2024-02-20 | 2024-03-15 | 2024-03-29 |
| 2023-12-14 | $0.35 | 2023-11-02 | 2023-12-15 | 2023-12-29 |
| 2023-09-14 | $0.35 | 2023-08-03 | 2023-09-15 | 2023-09-29 |
| 2023-06-15 | $0.35 | 2023-05-03 | 2023-06-16 | 2023-06-30 |
| 2023-03-16 | $0.35 | 2023-02-23 | 2023-03-17 | 2023-03-31 |
| 2022-12-15 | $0.30 | 2022-11-03 | 2022-12-16 | 2022-12-30 |
| 2022-09-15 | $0.30 | 2022-08-04 | 2022-09-16 | 2022-09-30 |
| 2022-06-15 | $0.30 | 2022-05-05 | 2022-06-16 | 2022-06-30 |
| 2022-03-16 | $0.30 | 2022-02-23 | 2022-03-17 | 2022-03-31 |
| 2021-12-15 | $0.20 | 2021-11-04 | 2021-12-16 | 2021-12-30 |
| 2021-09-15 | $0.20 | 2021-08-05 | 2021-09-16 | 2021-09-30 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for OLED — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30