UNIVERSAL DISPLAY CORP \PA\ OLED

Technology SIC 3670 - Electronic Components & Accessories NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing derived Nasdaq

We are a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light that can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products. OLED displays are capturing a growing share of the display market, especially in the mobile phone, television, monitor, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. We believe that this is because OLEDs offer potential advantages over competing display technologies with respect to power efficiency, contrast ratio, viewing angle, video response time, form factor and manufacturing cost. We also believe that OLED lighting products have the potential to replace many existing light sources in the future because of their high-power efficiency, excellent color rendering index, low operating temperature and novel form factor. Our technology leadership, our current intellectual property position, and our more than 20 years of experience working closely with leading OLED display manufacturers are some of the competitive advantages that should enable us to continue to share in the revenues from OLED displays and lighting products as they continue to gain wider adoption.

Last close 86.98 2026-10-23
Market cap $4.00B 2026-06-30 share count
52-week range 70.77 - 152.24

Valuation FY2025 figures against the last close

P/S6.1x
P/E17.1x
P/FCF25.9x
EV/EBITDA14.4x
Dividend yield2.1%
Diluted EPS5.08

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $650.6M$647.7M$576.4M$616.6M$553.5M$428.9M$405.2M$247.4M$335.6M$198.9M
Cost of revenue $154.1M$148.5M$135.4M$127.9M$115.0M$85.5M$75.4M$53.5M$54.7M$26.3M
Gross profit $496.5M$499.2M$441.1M$488.7M$438.5M$343.4M$329.8M$193.9M$280.9M$172.6M
R&D $146.1M$157.2M$130.5M$117.1M$99.7M$83.9M$71.3M$53.7M$49.1M$42.7M
SG&A $74.3M$74.3M$67.4M$77.9M$80.4M$61.3M$59.6M$47.0M$46.8M$32.9M
Total operating expenses $247.9M$260.4M$223.9M$221.6M$210.9M$185.9M$171.5M$137.1M$134.7M$104.2M
Operating income $248.6M$238.8M$217.2M$267.1M$227.6M$157.5M$158.3M$56.7M$146.2M$68.4M
Pre-tax income $294.8M$272.1M$245.2M$268.2M$228.2M$163.5M$169.9M$64.3M$149.5M$68.6M
Income tax $52.7M$50.0M$42.2M$58.2M$44.0M$30.2M$31.6M$5.5M$45.7M$20.5M
Net income $242.0M$222.0M$203.0M$210.0M$184.0M$133.4M$138.3M$58.8M$103.9M$48.1M
EPS, basic 5.094.664.254.413.872.802.921.242.191.02
EPS, diluted 5.084.654.244.403.872.802.921.242.181.02
Shares, diluted (wtd. avg.) 47.7M47.7M47.6M47.5M47.4M47.2M47.0M46.9M46.8M46.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $138.4M$99.0M$92.0M$93.4M$312.0M$630.0M$131.6M$211.0M$132.8M$139.4M
Short-term investments $464.0M$393.7M$422.1M$484.3M$351.2M$100.0M$514.5M$304.3M$287.4M$188.6M
Receivables $120.0M$113.6M$139.8M$92.7M$107.6M$82.3M$60.5M$43.1M$52.4M$25.0M
Inventory $240.9M$182.9M$175.8M$183.2M$134.2M$91.6M$64.0M$70.0M$36.3M$17.3M
Total current assets $1.09B$899.8M$917.1M$899.5M$925.9M$924.6M$792.4M$634.8M$519.2M$385.4M
Property, plant and equipment $214.9M$195.2M$175.2M$143.4M$128.8M$102.1M$87.9M$69.7M$56.5M$27.2M
Goodwill $15.5M$15.5M$15.5M$15.5M$15.5M$15.5M$15.5M$15.5M$15.5M$15.5M
Other intangibles $56.8M$73.6M$90.3M$38.4M$49.7M$70.3M$90.8M$111.0M$131.5M$152.1M
Total assets $1.96B$1.83B$1.67B$1.53B$1.47B$1.27B$1.12B$933.4M$780.0M$627.6M
Accounts payable $23.3M$36.6M$10.9M$9.5M$15.0M$13.8M$13.3M$10.5M$13.8M$8.1M
Total current liabilities $108.0M$125.4M$118.8M$135.7M$187.9M$165.0M$161.5M$133.2M$63.8M$40.2M
Total liabilities $202.7M$215.8M$221.7M$257.5M$367.0M$356.5M$308.7M$242.9M$120.9M$99.1M
Retained earnings $1.09B$934.7M$789.6M$653.3M$500.2M$353.9M$249.0M$129.6M$99.1M-$25.6M
Total equity $1.76B$1.62B$1.45B$1.28B$1.10B$912.7M$811.4M$690.5M$659.1M$528.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $210.8M$253.7M$154.8M$126.8M$191.1M$148.8M$193.9M$121.8M$133.4M$80.3M
Depreciation and amortisation $28.4M$25.9M$27.4M$24.8M$20.0M$15.2M$12.5M$8.6M$4.9M$4.3M
Stock-based compensation $28.2M$30.0M$24.1M$29.9M$34.9M$26.6M$16.1M$12.4M$12.3M$11.4M
Capital expenditure $56.5M$42.6M$59.8M$42.5M$43.2M$28.0M$30.1M$25.4M$29.8M$7.3M
Investing cash flow -$45.5M-$164.4M-$83.3M-$280.7M-$457.8M$391.3M-$238.7M-$21.0M-$125.6M-$38.5M
Financing cash flow -$126.0M-$82.3M-$72.9M-$64.6M-$51.4M-$41.7M-$34.6M-$22.6M-$14.3M-$14.0K
Dividends paid $85.5M$76.2M$66.7M$57.0M$37.9M$28.4M$18.9M$11.3M$5.7M—
Buybacks $32.9M$0$0—$0$0$649.0K$477.0K——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-173622.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M 800M Revenue, FY2016: 198.9M Gross profit, FY2016: 172.6M Net income, FY2016: 48.1M Revenue, FY2017: 335.6M Gross profit, FY2017: 280.9M Net income, FY2017: 103.9M Revenue, FY2018: 247.4M Gross profit, FY2018: 193.9M Net income, FY2018: 58.8M Revenue, FY2019: 405.2M Gross profit, FY2019: 329.8M Net income, FY2019: 138.3M Revenue, FY2020: 428.9M Gross profit, FY2020: 343.4M Net income, FY2020: 133.4M Revenue, FY2021: 553.5M Gross profit, FY2021: 438.5M Net income, FY2021: 184M Revenue, FY2022: 616.6M Gross profit, FY2022: 488.7M Net income, FY2022: 210M Revenue, FY2023: 576.4M Gross profit, FY2023: 441.1M Net income, FY2023: 203M Revenue, FY2024: 647.7M Gross profit, FY2024: 499.2M Net income, FY2024: 222M Revenue, FY2025: 650.6M Gross profit, FY2025: 496.5M Net income, FY2025: 242M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $198.9M $335.6M $247.4M $405.2M $428.9M $553.5M $616.6M $576.4M $647.7M $650.6M
Gross profit $172.6M $280.9M $193.9M $329.8M $343.4M $438.5M $488.7M $441.1M $499.2M $496.5M
Net income $48.1M $103.9M $58.8M $138.3M $133.4M $184.0M $210.0M $203.0M $222.0M $242.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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