OLEDNasdaqElectronic Components & AccessoriesFiscal year ends December 31
UNIVERSAL DISPLAY CORP \PA\
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$80.24+2.29 (+2.94%)
Close on Oct 19, 2026
- Market cap
- $3.75B
- P/E (TTM)
- 19.4
- Dividend yield
- 2.24%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
76.3%−3.8 pts over 5 years
Operating margin
38.2%+1.5 pts over 5 years
Net margin
37.2%+6.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.5% | +1.8% | +8.7% | +13.0% | |
| Gross profit | -0.5% | +0.5% | +7.7% | +14.5% | |
| Operating income | +4.1% | -2.4% | +9.6% | +22.6% | |
| Net income | +9.0% | +4.8% | +12.7% | +8.8% | |
| EPS, diluted | +9.2% | +4.9% | +12.7% | +8.8% | |
| Free cash flow | -26.9% | +22.3% | +5.0% | +3.6% | |
| Dividend per share | +12.5% | +14.5% | +24.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.7% | 15.5% | 14.3% | |
| Return on assets | 8.1% | 11.2% | 12.8% | |
| Current ratio | 9.58 | 5.61 | 10.06 | |
| Inventory turnover | 1.7× | 1.1× | 0.7× | |
| Capex to revenue | 3.7% | 6.5% | 8.7% | |
| Diluted shares | 47M | 47M | 48M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Universal Display Corp \Pa\ generated $937.27M from operations and spent $600.82M on capital expenditure, dividends and share buybacks. 41% of that went back into the business.
Generated
$937.27M
Used
$600.82M
Capital expenditure$244.56M41%Dividends$323.38M54%Share buybacks$32.88M5%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin37.2%
×Asset turnover0.34×
×Equity multiplier1.12×
=Return on equity, FY202514.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 37.2% | 0.34× | 1.12× | 14.3% |
| FY2024 | 34.3% | 0.37× | 1.14× | 14.5% |
| FY2023 | 35.2% | 0.36× | 1.18× | 14.9% |
| FY2022 | 34.1% | 0.41× | 1.26× | 17.7% |
| FY2021 | 33.3% | 0.40× | 1.36× | 18.3% |
| FY2020 | 31.1% | 0.36× | 1.39× | 15.5% |
| FY2019 | 34.1% | 0.39× | 1.37× | 18.4% |
| FY2018 | 23.8% | 0.29× | 1.27× | 8.7% |
| FY2017 | 31.0% | 0.48× | 1.19× | 17.5% |
| FY2016 | 24.2% | 0.34× | 1.19× | 9.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$242.08M
- Cash generatingOperating cash flow above zero$210.83M
- Return on assets improvedROA up on the prior year13.3% → 13.2%
- Earnings backed by cashOperating cash flow above net income$210.83M vs $242.08M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose7.18 → 10.06
- No dilutionShare count did not rise48M → 48M
- Gross margin improvedGross margin up on the prior year77.08% → 76.31%
- More efficientAsset turnover rose0.39 → 0.36