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
Return on equity & assets (ROE / ROA)
ROEROA
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
ROE
ROA
FCF
Total debt
Cash
2025
$651M
$242M
76.3%
38.2%
13.7%
12.3%
$154M
—
$138M
2024
$648M
$222M
77.1%
36.9%
13.7%
12.1%
$211M
—
$99M
2023
$576M
$203M
76.5%
37.7%
14.0%
12.2%
$95M
—
$92M
2022
$617M
$210M
79.3%
43.3%
16.5%
13.7%
$84M
—
$93M
2021
$554M
$184M
79.2%
41.1%
16.7%
12.5%
$148M
—
$312M
2020
$429M
$133M
80.1%
36.7%
14.6%
10.5%
$121M
—
$630M
2019
$405M
$138M
81.4%
39.1%
17.0%
12.3%
$164M
—
$132M
2018
$247M
$59M
78.4%
22.9%
8.5%
6.3%
$96M
—
$211M
2017
$336M
$104M
83.7%
43.6%
15.8%
13.3%
$104M
—
$133M
2016
—
$48M
—
—
9.1%
7.7%
$73M
—
$139M
2015
—
$104M
—
—
22.3%
18.6%
$109M
—
$98M
2014
—
$42M
—
—
9.3%
8.5%
$41M
—
$45M
2013
—
$74M
—
—
17.3%
16.0%
$40M
—
$71M
2012
—
$10M
—
—
2.8%
2.5%
$15M
—
$86M
2011
—
$3M
—
—
0.9%
0.8%
$14M
—
$112M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
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
ROE
ROA
FCF
Total debt
Cash
Sep '26
$160M
$79M
73.1%
33.5%
4.7%
4.2%
$96M
—
$93M
Jun '26
$152M
$49M
75.8%
35.3%
2.9%
2.6%
$20M
—
$121M
Mar '26
$142M
$36M
74.6%
30.1%
2.1%
1.9%
$100M
—
$159M
Dec '25
$173M
$66M
76.1%
38.9%
3.8%
3.4%
$15M
—
$138M
Sep '25
$140M
$44M
74.6%
30.9%
2.5%
2.3%
$84M
—
$122M
Jun '25
$172M
$67M
77.2%
39.9%
3.9%
3.5%
$37M
—
$96M
Mar '25
$166M
$64M
77.1%
41.9%
3.9%
3.5%
$18M
—
$157M
Dec '24
$162M
$46M
77.0%
32.3%
2.8%
2.5%
$22M
—
$99M
Sep '24
$162M
$67M
77.8%
41.5%
4.2%
3.7%
$66M
—
$80M
Jun '24
$159M
$52M
75.8%
35.6%
3.4%
2.9%
$58M
—
$93M
Mar '24
$165M
$57M
77.6%
38.0%
3.8%
3.4%
$65M
—
$74M
Dec '23
$158M
$62M
77.2%
40.9%
4.3%
3.7%
$29M
—
$92M
Sep '23
$141M
$52M
75.7%
34.3%
3.7%
3.2%
$35M
—
$79M
Jun '23
$147M
$50M
78.1%
40.0%
3.7%
3.2%
-$8M
—
$93M
Mar '23
$130M
$40M
74.7%
34.8%
3.1%
2.6%
$39M
—
$158M
Dec '22
$169M
$65M
82.2%
49.2%
5.1%
4.2%
-$9M
—
$93M
Sep '22
$161M
$53M
76.7%
42.6%
4.4%
3.5%
$28M
—
$188M
Jun '22
$137M
$42M
80.1%
39.0%
3.6%
2.8%
$23M
—
$214M
Mar '22
$150M
$50M
78.0%
41.4%
4.4%
3.4%
$42M
—
$357M
Dec '21
$146M
$46M
78.0%
38.6%
4.2%
3.1%
$43M
—
$312M
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 33.2× (Mar '23) to 16.7× (Nov '26).
The price-to-sales ratio has fallen from 11.3× (Mar '23) to 6.2× (Nov '26).
The dividend yield has risen from 0.8% (Mar '23) to 2.1% (Nov '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?
Universal Display Corp \Pa\'s P/E (TTM) is 17.54 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the OLED stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 16.7× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.