OLED · Universal Display Corp \pa\ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $650.61M | $647.68M | $576.43M | $616.62M | $553.52M | $428.87M |
| Cost of Revenue | $154.13M | $148.46M | $135.38M | $127.90M | $114.99M | $85.48M |
| Gross Profit | $496.49M | $499.22M | $441.05M | $488.72M | $438.53M | $343.39M |
| R&D | $146.10M | $157.19M | $130.48M | $117.06M | $99.67M | $83.89M |
| SG&A | $74.32M | $74.29M | $67.39M | $77.89M | $80.37M | $61.35M |
| Total Operating Expenses | $247.91M | $260.42M | $223.86M | $221.61M | $210.89M | $185.86M |
| D&A | $28.39M | $25.94M | $27.41M | $24.82M | $19.97M | $15.22M |
| Operating Income | $248.58M | $238.80M | $217.19M | $267.11M | $227.64M | $157.53M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $52.72M | $50.05M | $42.16M | $58.17M | $44.03M | $30.16M |
| Net Income | $242.07M | $222.08M | $203.01M | $210.06M | $184.21M | $133.37M |
| EPS - Basic | $5.09 | $4.66 | $4.25 | $4.41 | $3.87 | $2.80 |
| EPS - Diluted | $5.08 | $4.65 | $4.24 | $4.40 | $3.87 | $2.80 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $138.35M | $98.98M | $91.98M | $93.43M | $311.99M | $630.01M |
| Accounts Receivable | $119.95M | $113.65M | $139.85M | $92.66M | $107.64M | $82.26M |
| Inventory | $240.91M | $182.94M | $175.79M | $183.22M | $134.16M | $91.59M |
| Accounts Payable | $23.34M | $36.59M | $10.93M | $9.52M | $14.96M | $13.80M |
| Current Assets | $1.09B | $899.83M | $917.13M | $899.45M | $925.93M | $924.61M |
| Total Assets | $1.96B | $1.83B | $1.67B | $1.53B | $1.47B | $1.27B |
| Current Liabilities | $108.01M | $125.41M | $118.82M | $135.70M | $187.94M | $164.96M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $202.74M | $215.81M | $221.74M | $257.45M | $367.00M | $356.51M |
| Stockholders' Equity | $1.76B | $1.62B | $1.45B | $1.28B | $1.10B | $912.71M |
| Retained Earnings | $1.09B | $934.65M | $789.55M | $653.28M | $500.21M | $353.93M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $210.83M | $253.74M | $154.78M | $126.81M | $191.10M | $148.79M |
| Investing Cash Flow | ($45.48M) | ($164.41M) | ($83.29M) | ($280.74M) | ($457.75M) | $391.26M |
| Financing Cash Flow | ($125.98M) | ($82.33M) | ($72.93M) | ($64.64M) | ($51.37M) | ($41.66M) |
| CapEx | $56.47M | $42.64M | $59.79M | $42.50M | $43.16M | $27.99M |
| Free Cash Flow | $154.36M | $211.10M | $94.98M | $84.32M | $147.94M | $120.80M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 76.3% | 77.1% | 76.5% | 79.3% | 79.2% | 80.1% |
| Operating margin | 38.2% | 36.9% | 37.7% | 43.3% | 41.1% | 36.7% |
| EBITDA margin | 42.6% | 40.9% | 42.4% | 47.3% | 44.7% | 40.3% |
| Net margin | 37.2% | 34.3% | 35.2% | 34.1% | 33.3% | 31.1% |
| Free cash flow margin | 23.7% | 32.6% | 16.5% | 13.7% | 26.7% | 28.2% |
| FCF / Net income | 0.64 | 0.95 | 0.47 | 0.40 | 0.80 | 0.91 |
| R&D / Revenue | 22.5% | 24.3% | 22.6% | 19.0% | 18.0% | 19.6% |
| SG&A / Revenue | 11.4% | 11.5% | 11.7% | 12.6% | 14.5% | 14.3% |
| Effective tax rate | 17.9% | 18.4% | 17.2% | 21.7% | 19.3% | 18.4% |
| Return on assets | 12.3% | 12.1% | 12.2% | 13.7% | 12.6% | 10.5% |
| Return on equity | 13.7% | 13.7% | 14.0% | 16.5% | 16.7% | 14.6% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 10.06 | 7.18 | 7.72 | 6.63 | 4.93 | 5.61 |
| Quick ratio | 7.83 | 5.72 | 6.24 | 5.28 | 4.21 | 5.05 |
| Cash ratio | 1.28 | 0.79 | 0.77 | 0.69 | 1.66 | 3.82 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.12 | 1.13 | 1.15 | 1.20 | 1.33 | 1.39 |
| Liabilities / Assets | 0.10 | 0.12 | 0.13 | 0.17 | 0.25 | 0.28 |
| Efficiency | ||||||
| Asset turnover | 0.33 | 0.35 | 0.35 | 0.40 | 0.38 | 0.34 |
| Inventory turnover | 0.64 | 0.81 | 0.77 | 0.70 | 0.86 | 0.93 |
| Days sales outstanding | 67d | 64d | 89d | 55d | 71d | 70d |
| Days inventory outstanding | 571d | 450d | 474d | 523d | 426d | 391d |
| Days payable outstanding | 55d | 90d | 29d | 27d | 47d | 59d |
| Cash conversion cycle | 583d | 424d | 533d | 551d | 449d | 402d |
| Valuation | ||||||
| P / E | 23.0x | 31.4x | 45.1x | 24.6x | 42.6x | 82.1x |
| P / B | 3.2x | 4.3x | 6.3x | 4.0x | 7.1x | 11.9x |
| P / S | 8.6x | 10.8x | 15.8x | 8.3x | 14.1x | 25.3x |
| EV / EBITDA | 19.6x | 25.9x | 36.9x | 17.2x | 30.3x | 59.2x |
| Growth | ||||||
| Revenue growth (YoY) | 0.5% | 12.4% | -6.5% | 11.4% | 29.1% | 5.8% |
| Revenue CAGR (3y) | 1.8% | 5.4% | 10.4% | 15.0% | 30.8% | 8.5% |
| Revenue CAGR (5y) | 8.7% | 9.8% | 18.4% | 12.9% | 22.7% | 17.6% |
| Gross profit growth (YoY) | -0.5% | 13.2% | -9.8% | 11.4% | 27.7% | 4.1% |
| Operating income growth (YoY) | 4.1% | 10.0% | -18.7% | 17.3% | 44.5% | -0.5% |
| Net income growth (YoY) | 9.0% | 9.4% | -3.4% | 14.0% | 38.1% | -3.6% |
| EPS growth (YoY) | 9.2% | 9.7% | -3.6% | 13.7% | 38.2% | -4.1% |
| EPS CAGR (3y) | 4.9% | 6.3% | 14.8% | 14.6% | 46.1% | 8.7% |
| EPS CAGR (5y) | 12.7% | 9.8% | 27.9% | 15.1% | 30.6% | 55.3% |
| FCF growth (YoY) | -26.9% | 122.2% | 12.7% | -43.0% | 22.5% | -26.3% |
| FCF CAGR (5y) | 5.0% | 5.2% | -0.3% | -4.0% | 15.2% | 2.2% |
| Book value growth (YoY) | 8.9% | 11.7% | 13.5% | 16.0% | 20.5% | 12.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$650.61M totalMaterial Sales$352.97M · 54.3%
Royalty And License Fees$275.13M · 42.3%
Contract Research Services$22.50M · 3.5%
Geographic
$1.28B totalNon Us$626.18M · 49.0%
KR$383.50M · 30.0%
CN$238.21M · 18.7%
US$24.43M · 1.9%
JP$2.82M · 0.2%
Other Non US$1.66M · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
5.20
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Electronic Components & Accessories
Comparing UNIVERSAL DISPLAY CORP \PA\ against the 5 most active filers in the same SIC group.
Dividends
$1.85/share trailing 12 months · +12.1% YoY
| Ex-date | Per share |
|---|---|
| Mar 17, 2026 | $0.5000 |
| Dec 17, 2025 | $0.4500 |
| Sep 16, 2025 | $0.4500 |
| Jun 16, 2025 | $0.4500 |
| Mar 17, 2025 | $0.4500 |
| Dec 17, 2024 | $0.4000 |
| Sep 16, 2024 | $0.4000 |
| Jun 14, 2024 | $0.4000 |
| Mar 14, 2024 | $0.4000 |
| Dec 14, 2023 | $0.3500 |
| Sep 14, 2023 | $0.3500 |
| Jun 15, 2023 | $0.3500 |
| Mar 16, 2023 | $0.3500 |
| Dec 15, 2022 | $0.3000 |
| Sep 15, 2022 | $0.3000 |
| Jun 15, 2022 | $0.3000 |
| Mar 16, 2022 | $0.3000 |
| Dec 15, 2021 | $0.2000 |
| Sep 15, 2021 | $0.2000 |
| Jun 14, 2021 | $0.2000 |
| Mar 15, 2021 | $0.2000 |
| Dec 14, 2020 | $0.1500 |
| Sep 15, 2020 | $0.1500 |
| Jun 12, 2020 | $0.1500 |