Saturday 10 October 2026
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Universal Display Corporation
OLED Technology Electronic Components
Universal Display Corporation’s revenue for fiscal 2025 (year ended December 2025) was $650.6 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue fell 11.4%, EPS fell 24.8% and free cash flow fell 45.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
74.96
2.06
+2.83%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 40.44 | 56.15 | 78.75 | 78.78 | 105.11 | 139.83 | 89.41 | 105.73 | 145.26 | 103.70 |
Analyst estimates 2026–2028 Powerpack |
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| High | 74.39 | 192.75 | 209.00 | 230.32 | 246.98 | 262.77 | 178.75 | 194.84 | 237.00 | 164.29 | |||||
| People | |||||||||||||||
| People | Employees | 203 | 224 | 267 | 311 | 350 | 409 | 445 | 456 | 468 | 469 | ||||
| Revenue/emp, $m | 0.98 | 1.50 | 0.93 | 1.30 | 1.23 | 1.35 | 1.39 | 1.26 | 1.38 | 1.39 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 199 | 336 | 247 | 405 | 429 | 554 | 617 | 576 | 648 | 651 | ||||
| Gross margin, % | 86.78 | 83.70 | 78.36 | 81.40 | 80.07 | 79.23 | 79.26 | 76.51 | 77.08 | 76.31 | |||||
| EBT | 69 | 150 | 64 | 170 | 164 | 228 | 268 | 245 | 272 | 295 | |||||
| EBT margin, % | 34.49 | 44.55 | 25.99 | 41.93 | 38.13 | 41.24 | 43.50 | 42.53 | 42.02 | 45.31 | |||||
| Net income | 48 | 104 | 59 | 138 | 133 | 184 | 210 | 203 | 222 | 242 | |||||
| Depreciation | 12 | 13 | (44) | (108) | 32 | 42 | 36 | 43 | 44 | 47 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 4.29 | 7.18 | 5.28 | 8.63 | 9.09 | 11.70 | 13.01 | 12.12 | 13.62 | 13.68 | ||||
| Earnings | 1.02 | 2.19 | 1.24 | 2.92 | 2.80 | 3.87 | 4.41 | 4.25 | 4.66 | 5.09 | |||||
| Cash flow | 1.73 | 2.85 | 2.60 | 4.13 | 3.15 | 4.04 | 2.68 | 3.25 | 5.34 | 4.43 | |||||
| Capex | (2.23) | (0.64) | (0.54) | (0.65) | (0.59) | (0.92) | (1.00) | (2.66) | (0.90) | (1.40) | |||||
| Free cash flow | (0.49) | 2.22 | 2.06 | 3.48 | 2.56 | 3.12 | 1.68 | 0.60 | 4.44 | 3.04 | |||||
| Book value | 11.39 | 14.11 | 14.74 | 17.28 | 19.34 | 23.26 | 26.91 | 30.43 | 34.00 | 37.04 | |||||
| Shares, m | 46 | 47 | 47 | 47 | 47 | 47 | 47 | 48 | 48 | 48 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 56.23 | 79.34 | 75.46 | 70.57 | 82.07 | 42.64 | 24.14 | 43.90 | 31.37 | 22.94 | ||||
| P/S | 13.38 | 24.19 | 17.72 | 23.88 | 25.29 | 14.10 | 8.20 | 15.39 | 10.73 | 8.53 | |||||
| P/B | 5.04 | 12.32 | 6.35 | 11.93 | 11.88 | 7.10 | 3.96 | 6.13 | 4.30 | 3.15 | |||||
| EV/Sales | 11.73 | 22.94 | 15.64 | 22.29 | 23.59 | 12.90 | 7.26 | 14.50 | 9.97 | 7.61 | |||||
| EV/FCF | (101.67) | 1,016.53 | 9,299.06 | 55.25 | 83.79 | 48.40 | 56.26 | 294.13 | 44.69 | 63.59 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 80 | 133 | 122 | 194 | 149 | 191 | 127 | 155 | 254 | 211 | ||||
| Capex | (103) | (30) | (25) | (30) | (28) | (44) | (47) | (126) | (43) | (66) | |||||
| Free cash flow | (23) | 104 | 96 | 163 | 121 | 148 | 80 | 28 | 211 | 144 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 345 | 455 | 502 | 631 | 760 | 738 | 764 | 798 | 774 | 979 | ||||
| Total debt | — | — | — | 9 | 9 | 30 | 33 | — | — | — | |||||
| Net debt | (328) | (420) | (515) | (646) | (730) | (663) | (578) | (514) | (493) | (602) | |||||
| Shareholders’ equity | 528 | 659 | 691 | 811 | 913 | 1,100 | 1,275 | 1,447 | 1,617 | 1,761 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 7.98 | 14.53 | 6.79 | 13.36 | 11.08 | 13.47 | 13.92 | 12.62 | 12.66 | 12.75 | ||||
| ROIC | 21.33 | 38.28 | 20.24 | 59.85 | 53.89 | 32.58 | 23.93 | 14.55 | 13.28 | 13.41 | |||||
| ROE | 9.51 | 17.22 | 8.62 | 18.27 | 15.35 | 18.31 | 17.58 | 14.84 | 14.46 | 14.33 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Universal Display Corporation vs peers in Electronic Components (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BELFA Bel Fuse Inc. | $3.4B | 49.8× | 32.7× | +25.18% (above 0%: growing) | −11.33% (below 0%: shrinking) | −27.35% (below 0%: shrinking) | 39.85% | 18.24% | Compare |
| BELFB Bel Fuse Inc. | $3.4B | 59.1× | 32.7× | +25.18% (above 0%: growing) | −11.68% (below 0%: shrinking) | −27.35% (below 0%: shrinking) | 39.85% | 18.24% | Compare |
| OLED Universal Display Corporation | $3.4B | 18.1× | 20.1× | −11.43% (below 0%: shrinking) | −24.82% (below 0%: shrinking) | −45.68% (below 0%: shrinking) | 75.82% | 35.26% | |
| KN Knowles Corporation | $3.2B | 47.5× | 46.6× | +14.32% (above 0%: growing) | +155.56% (above 0%: growing) | −30.67% (below 0%: shrinking) | 44.72% | 14.81% | Compare |
| OSIS OSI Systems, Inc. | $3.1B | 21.6× | 18.5× | −4.14% (below 0%: shrinking) | +7.92% (above 0%: growing) | +1,853.69% (above 0%: growing) | 34.70% | 15.26% | Compare |
| BHE Benchmark Electronics, Inc. | $2.9B | 55.0× | 41.3× | +17.69% (above 0%: growing) | +1,733.33% (above 0%: growing) | +244.06% (above 0%: growing) | 10.37% | 4.00% | Compare |
| OUST Ouster, Inc. | $2.9B | — (loss-making) | — (loss-making) | +55.86% (above 0%: growing) | n/m | −600.91% (below 0%: shrinking) | 48.85% | (36.69%) | Compare |
| ROG Rogers Corporation | $2.7B | 84.2× | 42.6× | +6.90% (above 0%: growing) | n/m | +226.79% (above 0%: growing) | 32.47% | 9.23% | Compare |
| ALNT Allient Inc. | $1.9B | 64.3× | 47.2× | +10.17% (above 0%: growing) | +82.35% (above 0%: growing) | −59.55% (below 0%: shrinking) | 34.85% | 10.15% | Compare |
| Median of peers | $3.0B | 55.0× | 41.3× | +16.01% | +45.14% | −27.35% | 37.35% | 12.48% |
Universal Display Corporation (OLED) key facts
- Strength: Net income was $242.1 million, or $5.09 per share (basic), a net margin of 37.2%.
- Universal Display Corporation (OLED) is an Electronic Components company in the Technology sector, listed on Nasdaq.
- Universal Display Corporation’s revenue for fiscal 2025 (year ended December 2025) was $650.6 million, roughly unchanged from fiscal 2024.
- As of October 9, 2026, OLED traded at $74.96, a market capitalization of $3.4 billion.
- At that price the stock trades at 18.1× trailing-twelve-month earnings and 5.8× sales; its P/E is higher than 0% of its own readings over the past ten years.
- Universal Display Corporation pays an annual dividend of $1.95 per share, a yield of 2.60%, with a payout ratio of 47.2%.
- Return on equity was 14.3% and debt-to-equity 0.00.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 18.56 (safe zone) for fiscal 2025.
Universal Display Corporation (OLED) Latest News
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