(OLED) Universal Display - Overview
Sector: Technology | Industry: Electronic Components | Exchange: NASDAQ (USA) | Market Cap: 4.281m USD | Total Return: -34.8% in 12m
Avg Turnover: 89.0M
EPS Trend: 60.2%
Qual. Beats: -1
Rev. Trend: 73.6%
Qual. Beats: -1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Universal Display Corporation (OLED) specializes in the development and licensing of proprietary phosphorescent organic light-emitting diode (PHOLED) technologies. The company’s business model centers on two primary revenue streams: the sale of high-efficiency chemical materials and the licensing of its extensive intellectual property portfolio to major panel manufacturers. Beyond standard displays, the company develops flexible OLED (FOLED) solutions and organic vapor jet printing (OVJP) technologies for the solid-state lighting and consumer electronics markets.
The OLED industry is characterized by high barriers to entry due to the complex chemical engineering required to improve luminous efficiency and device lifespan. As a key upstream provider, Universal Display operates globally with a significant presence in East Asian manufacturing hubs, including South Korea and China. Investors looking for deeper quantitative analysis of these market trends may find ValueRay a useful resource. The company also offers contract research and chemical synthesis services for non-OLED applications, diversifying its technical footprint.
- Commercialization of blue phosphorescent OLED materials expected to drive significant royalty growth
- Global smartphone and IT device transition to OLED screens increases material demand
- Expansion of manufacturing capacity in China boosts licensing and material sales revenue
- Fluctuations in high-end consumer electronics demand impact quarterly royalty and material income
- Advancement of organic vapor jet printing technology reduces manufacturing costs for manufacturers
| Net Income: 213.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 3.74 > 1.0 |
| NWC/Revenue: 133.2% < 20% (prev 139.6%; Δ -6.36% < -1%) |
| CFO/TA 0.15 > 3% & CFO 289.1m > Net Income 213.5m |
| Net Debt (-476.7m) to EBITDA (272.3m): -1.75 < 3 |
| Current Ratio: 9.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.2m) vs 12m ago -1.01% < -2% |
| Gross Margin: 72.57% > 18% (prev 0.76%; Δ 7.18k% > 0.5%) |
| Asset Turnover: 33.33% > 50% (prev 34.79%; Δ -1.46% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.44 (Total Current Assets 932.3m - Total Current Liabilities 97.8m) / Total Assets 1.89b |
| B: 0.58 (Retained Earnings 1.10b / Total Assets 1.89b) |
| C: 0.12 (EBIT TTM 223.7m / Avg Total Assets 1.88b) |
| D: 5.77 (Book Value of Equity 1.10b / Total Liabilities 190.7m) |
| Altman-Z'' = 11.64 = AAA |
| DSRI: 0.69 (Receivables 93.6m/139.6m, Revenue 626.5m/648.7m) |
| GMI: 1.05 (GM 72.57% / 76.22%) |
| AQI: 1.17 (AQ_t 0.40 / AQ_t-1 0.34) |
| SGI: 0.97 (Revenue 626.5m / 648.7m) |
| TATA: -0.04 (NI 213.5m - CFO 289.1m) / TA 1.89b) |
| Beneish M = -3.20 (Cap -4..+1) = AA |
As of May 26, 2026, the stock is trading at USD 94.31 with a total of 563,100 shares traded.
Over the past week, the price has changed by +1.80%,
over one month by -0.71%,
over three months by -10.61% and
over the past year by -34.83%.
Universal Display has received a consensus analysts rating of 4.10. Therefore, it is recommended to buy OLED.
- StrongBuy: 4
- Buy: 3
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 128.1 | 35.8% |
P/E Trailing = 20.3942
P/E Forward = 18.1818
P/S = 6.8327
P/B = 2.4882
P/EG = 1.2266
Revenue TTM = 626.5m USD
EBIT TTM = 223.7m USD
EBITDA TTM = 272.3m USD
Long Term Debt = 17.6m USD (estimated: total debt 22.1m - short term 4.55m)
Short Term Debt = 4.55m USD (from shortTermDebt, last quarter)
Debt = 39.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 17.6m
Net Debt = -476.7m USD (calculated: Debt 39.7m - CCE 516.4m)
Enterprise Value = 3.80b USD (4.28b + Debt 39.7m - CCE 516.4m)
Interest Coverage Ratio = unknown (Ebit TTM 223.7m / Interest Expense TTM 0.0)
EV/FCF = 16.04x (Enterprise Value 3.80b / FCF TTM 237.1m)
FCF Yield = 6.23% (FCF TTM 237.1m / Enterprise Value 3.80b)
FCF Margin = 37.85% (FCF TTM 237.1m / Revenue TTM 626.5m)
Net Margin = 34.08% (Net Income TTM 213.5m / Revenue TTM 626.5m)
Gross Margin = 72.57% ((Revenue TTM 626.5m - Cost of Revenue TTM 171.8m) / Revenue TTM)
Gross Margin QoQ = 70.60% (prev 73.43%)
Tobins Q-Ratio = 2.01 (Enterprise Value 3.80b / Total Assets 1.89b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 39.7m)
Taxrate = 20.75% (9.40m / 45.3m)
NOPAT = 177.3m (EBIT 223.7m * (1 - 20.75%))
Current Ratio = 9.54 (Total Current Assets 932.3m / Total Current Liabilities 97.8m)
Debt / Equity = 0.02 (Debt 39.7m / totalStockholderEquity, last quarter 1.70b)
Debt / EBITDA = -1.75 (Net Debt -476.7m / EBITDA 272.3m)
Debt / FCF = -2.01 (Net Debt -476.7m / FCF TTM 237.1m)
Total Stockholder Equity = 1.73b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.36% (Net Income 213.5m / Total Assets 1.89b)
RoE = 12.33% (Net Income TTM 213.5m / Total Stockholder Equity 1.73b)
RoCE = 12.79% (EBIT 223.7m / Capital Employed (Equity 1.73b + L.T.Debt 17.6m))
RoIC = 10.71% (NOPAT 177.3m / Invested Capital 1.66b)
WACC = 12.53% (E(4.28b)/V(4.32b) * Re(12.65%) + D(39.7m)/V(4.32b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 12.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 42.22 | Cagr: -0.39%
[DCF] Terminal Value 65.67% ; FCFF base≈207.7m ; Y1≈238.1m ; Y5≈350.5m
[DCF] Fair Price = 74.82 (EV 3.02b - Net Debt -476.7m = Equity 3.50b / Shares 46.8m; r=12.53% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 60.17 | EPS CAGR: 4.25% | SUE: -2.92 | # QB: -1
Revenue Correlation: 73.56 | Revenue CAGR: 3.61% | SUE: -1.05 | # QB: -1
EPS current Quarter (2026-06-30): EPS=1.03 | Chg30d=-10.20% | Revisions=-56% | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.14 | Chg30d=-8.43% | Revisions=-56% | Analysts=5
EPS current Year (2026-12-31): EPS=4.28 | Chg30d=-11.41% | Revisions=-56% | GrowthEPS=-15.8% | GrowthRev=-0.2%
EPS next Year (2027-12-31): EPS=5.00 | Chg30d=-8.86% | Revisions=-56% | GrowthEPS=+16.9% | GrowthRev=+8.3%
[Analyst] Revisions Ratio: -56%