15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.7% per year over the past 5 years.
Net income has grown faster than revenue (12.7% vs 8.7% per year).
Operating margin has expanded, at 38.2% in the latest year.
Free cash flow has grown 5.0% per year over the past 5 years.
Shareholder returns
Dividends have been paid for 9 consecutive years, consuming 35.4% of earnings and 55.4% of free cash flow.
The dividend has grown 24.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$651M
$242M
76.3%
38.2%
$154M
—
$138M
2024
$648M
$222M
77.1%
36.9%
$211M
—
$99M
2023
$576M
$203M
76.5%
37.7%
$95M
—
$92M
2022
$617M
$210M
79.3%
43.3%
$84M
—
$93M
2021
$554M
$184M
79.2%
41.1%
$148M
—
$312M
2020
$429M
$133M
80.1%
36.7%
$121M
—
$630M
2019
$405M
$138M
81.4%
39.1%
$164M
—
$132M
2018
$247M
$59M
78.4%
22.9%
$96M
—
$211M
2017
$336M
$104M
83.7%
43.6%
$104M
—
$133M
2016
—
$48M
—
—
$73M
—
$139M
2015
—
$104M
—
—
$109M
—
$98M
2014
—
$42M
—
—
$41M
—
$45M
2013
—
$74M
—
—
$40M
—
$71M
2012
—
$10M
—
—
$15M
—
$86M
2011
—
$3M
—
—
$14M
—
$112M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$142M
$36M
74.6%
30.1%
$100M
—
$159M
Dec '25
$173M
$66M
76.1%
38.9%
$15M
—
$138M
Sep '25
$140M
$44M
74.6%
30.9%
$84M
—
$122M
Jun '25
$172M
$67M
77.2%
39.9%
$37M
—
$96M
Mar '25
$166M
$64M
77.1%
41.9%
$18M
—
$157M
Dec '24
$162M
$46M
77.0%
32.3%
$22M
—
$99M
Sep '24
$162M
$67M
77.8%
41.5%
$66M
—
$80M
Jun '24
$159M
$52M
75.8%
35.6%
$58M
—
$93M
Mar '24
$165M
$57M
77.6%
38.0%
$65M
—
$74M
Dec '23
$158M
$62M
77.2%
40.9%
$29M
—
$92M
Sep '23
$141M
$52M
75.7%
34.3%
$35M
—
$79M
Jun '23
$147M
$50M
78.1%
40.0%
-$8M
—
$93M
Mar '23
$130M
$40M
74.7%
34.8%
$39M
—
$158M
Dec '22
$169M
$65M
82.2%
49.2%
-$9M
—
$93M
Sep '22
$161M
$53M
76.7%
42.6%
$28M
—
$188M
Jun '22
$137M
$42M
80.1%
39.0%
$23M
—
$214M
Mar '22
$150M
$50M
78.0%
41.4%
$42M
—
$357M
Dec '21
$146M
$46M
78.0%
38.6%
$43M
—
$312M
Sep '21
$144M
$46M
78.1%
40.2%
$66M
—
$535M
Jun '21
$130M
$41M
78.4%
38.5%
$19M
—
$543M
Valuation over time
How the market has priced OLED against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 34.5× (Mar '23) to 16.9× (Jun '26).
The price-to-sales ratio has fallen from 11.8× (Mar '23) to 6.3× (Jun '26).
The dividend yield has risen from 0.8% (Mar '23) to 2.1% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is OLED growing its revenue and profit?
Over the past 5 years, Universal Display Corp \Pa\'s revenue has grown 8.7% per year, and net income grown 12.7% per year. These are computed facts, not advice.
How much debt does OLED have?
As of FY2025, Universal Display Corp \Pa\ reported — of total debt against $138M of cash.
What is OLED's profit margin?
In FY2025, gross margin was 76.3%, operating margin 38.2%, and net margin 37.2%.
What is OLED's P/E ratio?
As of Jun '26, Universal Display Corp \Pa\ traded at a price-to-earnings ratio of about 16.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.