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Licenses OLED display technology patents and sells phosphorescent OLED emitter materials to display makers.
Licenses OLED display technology patents and sells phosphorescent OLED emitter materials to display makers.
Earns from selling phosphorescent emitter materials to display makers, paid per gram as they build panels, and from royalties and licence fees on its patents. It makes no displays itself, and Samsung Display is by far the largest customer.
Moat: wide (IP / patents). Broad, foundational patent portfolio in phosphorescent OLED technology that panel makers must license.
Headquarters: Ewing, New Jersey, US · Founded: 1994 · Employees: 469
Size Universal Display (OLED) is a United States Information Technology company (Electronic Production Equipment) with a market value of $3.98B, the 1348th largest of 3,117 United States companies the cockpit tracks. Shares closed at $88.31 on 6 Nov 2026.
Performance Over six months the shares fell 3.8%, against -12.3% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +22.2%); the operating margin is 34.9% (peer median 8.2%).
Valuation It trades at 19.6× forward earnings against a peer median of 24.4× (5th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.4 points above its cost of capital (12.4% WACC).
Short interest Short interest is 9.7% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $628M | $651M | $648M | $576M | $617M |
| Revenue growth | — | 0% | +12% | -7% | — |
| Gross profit | $451M | $478M | $479M | $424M | $470M |
| EBITDA | $269M | $297M | $292M | $261M | $309M |
| Net income | $231M | $242M | $222M | $202M | $209M |
| Free cash flow | $232M | $154M | $211M | $95.0M | $84.3M |
| Capital expenditure | $83.6M | $66.5M | $42.6M | $126M | $47.2M |
| Total debt | $21.4M | $24.0M | $23.0M | $26.4M | $32.8M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Universal Display OLED | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
| Idemitsu Kosan 5019.T | $9.54B | -9% | -3% | 6% | 7.1× | -12.8% |
| Samsung Sdi 006400.KS | $26.8B | -33% | +21% | 0% | 45.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OLED | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.1% | -16.6% | 2nd highest of 21 |
| 6-month return | -3.8% | -12.3% | 7th highest of 21 |
| Distance from 52-week high | -40.0% | -42.6% | 10th highest of 21 |
| Revenue growth (TTM) | -1.9% | +22.2% | 2nd lowest of 21 |
| Operating margin | 34.9% | 8.2% | highest of 21 |
| Forward P/E | 19.6× | 24.4× | 5th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 14.3% | 19.7% | 4th least demanding of 13 |
| Growth delivered (Del g) | +8.7% | +13.3% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | +5.6 pp | +6.8 pp | 7th least demanding of 13 |
| ROIC minus cost of capital | +1.4 pp | +0.5 pp | 6th highest of 21 |
| EV / EBITDA | 13.2× | 17.3× | 3rd cheapest of 8 |
| Net debt / EBITDA | -1.5× | 0.0× | least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% | +9.8% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | n/a | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% | +4.2% |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 20.0× | 14.7% | +41.1% |
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| Olympic Circuit Technology 603920.SS | China | $3.29B | -42% | +21% | 6% | 30.1× | n/a | n/a |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| Guangdong Create Century Intelligent Equipment 300083.SZ | China | $3.13B | +7% | +35% | 11% | 24.4× | n/a | n/a |
| OFILM 002456.SZ | China | $3.10B | -35% | -17% | -1% | n/a | 27.0% | -14.4% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| OPT Machine Vision Tech 688686.SS | China | $2.96B | +48% | +38% | 12% | 75.4× | n/a | n/a |
| Exosens EXENS.PA | France | $2.95B | -11% | +15% | 17% | 27.5× | 24.3% | +25.6% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |
| AAC Technologies 2018.HK | Hong Kong | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% | +12.4% |