OLED (Universal Display Corporation) Stock Financials & Earnings | Market Cap Arena

OLED (Universal Display Corporation) Stock Financials & Earnings | Market Cap Arena

OLEDUniversal Display Corporation

Mkt Cap$5B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Revenue (TTM)$651M

Net Income (TTM)$242M

EPS (TTM)$5.07

Free Cash Flow (TTM)$154M

Gross Margin74.9%

Op. Margin38.5%

Net Margin37.2%

FCF Margin23.7%

P/S Ratio (TTM)7.1x

P/E Ratio (TTM)19.1x

YoY Rev Growth+0.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$130M	$97M	$45M
Q2 23	$147M	$114M	$59M
Q3 23	$141M	$107M	$48M
Q4 23	$158M	$122M	$65M
Q1 24	$165M	$128M	$63M
Q2 24	$159M	$120M	$56M
Q3 24	$162M	$126M	$67M
Q4 24	$162M	$125M	$52M
Q1 25	$166M	$128M	$70M
Q2 25	$172M	$133M	$69M
Q3 25	$140M	$99M	$43M
Q4 25	$173M	$127M	$69M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	7.8x	23.2x
Q2 23	7.6x	22.3x
Q3 23	7.9x	22.5x
Q4 23	8.0x	22.8x
Q1 24	7.6x	21.1x
Q2 24	7.4x	20.8x
Q3 24	7.2x	19.5x
Q4 24	7.2x	20.9x
Q1 25	7.1x	20.2x
Q2 25	7.0x	18.9x
Q3 25	7.2x	20.9x
Q4 25	7.1x	19.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$48M	$38M
Q2 23	$10M	-$74M
Q3 23	$60M	$35M
Q4 23	$37M	$29M
Q1 24	$72M	$65M
Q2 24	$67M	$58M
Q3 24	$80M	$66M
Q4 24	$35M	$22M
Q1 25	$31M	$18M
Q2 25	$52M	$37M
Q3 25	$97M	$84M
Q4 25	$31M	$15M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$9M
Q2 23	$84M
Q3 23	$25M
Q4 23	$8M
Q1 24	$7M
Q2 24	$9M
Q3 24	$14M
Q4 24	$13M
Q1 25	$13M
Q2 25	$14M
Q3 25	$13M
Q4 25	$16M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-13.3%	-3.5%
Q2 23	+7.3%	+5.6%
Q3 23	-12.1%	+0.6%
Q4 23	-6.3%	+8.9%
Q1 24	+26.7%	+20.3%
Q2 24	+8.1%	+16.1%
Q3 24	+14.6%	+2.1%
Q4 24	+2.5%	+17.3%
Q1 25	+0.6%	-5.6%
Q2 25	+8.4%	+1.2%
Q3 25	-13.6%	+2.0%
Q4 25	+6.6%	-5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	3.4%
Q2 23	$7M	4.7%
Q3 23	$7M	5.2%
Q4 23	$5M	3.5%
Q1 24	$9M	5.6%
Q2 24	$9M	5.9%
Q3 24	$5M	3.3%
Q4 24	$6M	3.8%
Q1 25	$7M	4.3%
Q2 25	$9M	5.4%
Q3 25	$6M	4.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$31M	$15M
Q2 23	$32M	$17M
Q3 23	$33M	$18M
Q4 23	$34M	$17M
Q1 24	$38M	$19M
Q2 24	$37M	$20M
Q3 24	$36M	$16M
Q4 24	$46M	$20M
Q1 25	$35M	$17M
Q2 25	$36M	$20M
Q3 25	$36M	$18M
Q4 25	$37M	$19M

Revenue Segments

Quarter	Contract Research Services	Material Sales	Royalty And License Fees
Q1 23	$5M	$70M	$55M
Q2 23	$5M	$77M	$64M
Q3 23	$3M	$92M	$46M
Q4 23	$3M	$82M	$73M
Q1 24	$4M	$93M	$68M
Q2 24	$4M	$95M	$60M
Q3 24	$4M	$83M	$75M
Q4 24	$5M	$93M	$64M
Q1 25	$7M	$86M	$74M
Q2 25	$7M	$89M	$76M
Q3 25	$4M	$83M	$53M
Q4 25	$5M	$96M	$73M

Revenue by Geography

Quarter	China	Japan	Korea, Republic Of	Other Non U S	United States
Q1 23	$57M	$2M	$66M	$1M	$4M
Q2 23	$58M	$2M	$82M	$2M	$4M
Q3 23	$49M	$2M	$87M	$541K	$3M
Q4 23	$66M	$2M	$87M	$555K	$3M
Q1 24	$57M	$1M	$102M	$2M	$2M
Q2 24	$45M	$1M	$108M	$273K	$4M
Q3 24	$61M	$503K	$95M	$975K	$4M
Q4 24	$65M	$596K	$92M	—	$5M
Q1 25	$71M	$413K	$87M	$454K	$7M
Q2 25	$76M	$2M	$87M	$534K	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$158M	$488M	$646M
Q2 23	$93M	$466M	$559M
Q3 23	$79M	$412M	$492M
Q4 23	$92M	$422M	$514M
Q1 24	$74M	$465M	$539M
Q2 24	$93M	$438M	$531M
Q3 24	$80M	$472M	$552M
Q4 24	$99M	$394M	$493M
Q1 25	$157M	$414M	$571M
Q2 25	$96M	$429M	$525M
Q3 25	$122M	$481M	$603M
Q4 25	$138M	$464M	$602M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	48M	+0.2%
Q2 23	48M	+0.1%
Q3 23	48M	+0.0%
Q4 23	48M	+0.1%
Q1 24	48M	-0.1%
Q2 24	48M	-0.0%
Q3 24	48M	+0.1%
Q4 24	48M	+0.0%
Q1 25	48M	+0.0%
Q2 25	48M	-0.0%
Q3 25	48M	+0.0%
Q4 25	48M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$1M	144
FY 15	$1M	153
FY 16	$985K	202
FY 17	$2M	222
FY 18	$934K	265
FY 19	$1M	309
FY 20	$1M	349
FY 21	$1M	409
FY 22	$1M	443
FY 23	$1M	456
FY 24	$1M	468
FY 25	$1M	469