LG Display Co., Ltd.
- Open
- 3.30
- Day high
- 3.32
- Day low
- 3.16
- Prev close
- 3.29
- Volume
- 3.3M
- Mkt cap
- $3.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 0.2
- Yield
- —
- Per share
- —
LG Display Co., Ltd. (LPL) is a Technology company listed on NYSE. The stock is down 7% over the past year.
LG Display Co., Ltd. (LPL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LPL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $-0.00 | $-0.39 | -8883.2% | $3.7B | -5.6% |
| Jan 28, 2026 | $0.17 | $-0.24 | -241.2% | $5.0B | +29.4% |
| Nov 14, 2025 | $0.06 | $-0.01 | -116.7% | $4.9B | +1.1% |
| Aug 14, 2025 | $0.69 | $0.62 | -10.1% | $4.1B | +1.2% |
| May 15, 2025 | $0.20 | $-0.18 | -190.0% | $4.2B | -5.8% |
| Jan 22, 2025 | $0.05 | $-0.60 | -1279.7% | $5.3B | +22.4% |
| Nov 14, 2024 | $-0.00 | $-0.26 | -649900.0% | $5.1B | -3.8% |
| Aug 14, 2024 | $-0.37 | $-0.74 | -100.0% | $4.9B | +6.3% |
| May 16, 2024 | $-0.57 | $-0.81 | -42.1% | $3.9B | +2.7% |
| Mar 8, 2024 | $-0.06 | $0.06 | +200.0% | $5.7B | +9.3% |
| Nov 14, 2023 | $-0.75 | $-0.77 | -2.7% | $3.5B | -16.1% |
| Aug 14, 2023 | $-0.94 | $-0.91 | +3.2% | $3.6B | -1.1% |
LG Display Co., Ltd. company profile
Overview
LG Display Co., Ltd. (NYSE:LPL) is a South Korean display panel manufacturer that was incorporated in 1985 and is headquartered in Seoul. Originally known as LG.Philips LCD Co., Ltd., the company changed its name to LG Display in March 2008 and went public in 2004. LG Display is one of the world's largest manufacturers of display panels, specializing in both traditional LCD and advanced OLED technologies. The company has undergone significant transformation in recent years, pivoting from a primarily LCD-focused business to an OLED-centric strategy as it seeks to improve profitability and compete in higher-value market segments.
Business
LG Display operates in the global display panel manufacturing industry, producing thin-film transistor liquid crystal display (TFT-LCD) and organic light emitting diode (OLED) panels. These display technologies serve as the visual interface for virtually all electronic devices with screens. TFT-LCD panels use liquid crystals sandwiched between glass substrates with thin-film transistors controlling each pixel, requiring a backlight to illuminate the display. OLED panels contain organic compounds that emit light when electricity is applied, eliminating the need for backlighting and enabling thinner designs, better contrast ratios, and more vibrant colors. The company's business is organized into four main segments based on end-use applications: 1. Mobile and Others segment (42% of Q4 2024 revenue) manufactures display panels primarily for smartphones and tablets. This segment has become LG Display's largest revenue contributor, focusing increasingly on premium OLED panels for high-end mobile devices. 2. IT segment (declining to 33% of revenue mix) produces panels for notebook computers, desktop monitors, and tablet computers. This segment has faced challenges due to sluggish demand in the PC market, though the company is investing in advanced IT OLED panels with tandem technology for premium applications. 3. TV segment (22% of revenue) manufactures large-format display panels for televisions. LG Display has been transitioning away from traditional LCD TV panels toward high-end OLED TV panels, which offer superior picture quality and higher profit margins. 4. Auto segment (8% of revenue) produces specialized display panels for automotive applications, including dashboard displays, infotainment systems, and head-up displays. This is a growing segment as vehicles incorporate more digital displays, with LG Display offering both OLED and advanced LCD solutions. Across all segments, OLED products now represent 60% of total revenue as of Q4 2024, marking a dramatic shift from the company's historically LCD-dominated business model. The company operates manufacturing facilities in South Korea, China, and other locations globally to serve customers worldwide.
Revenue model
LG Display generates revenue primarily through product sales of display panels to original equipment manufacturers (OEMs) and brand manufacturers. The company operates on a business-to-business model, selling panels that are then integrated into final consumer products like smartphones, laptops, televisions, and automobiles. The company's customers include major technology companies such as Apple, Samsung, LG Electronics, and various automotive manufacturers. Revenue is generated when these customers purchase panels for their device manufacturing needs. LG Display typically operates on longer-term supply contracts with major customers, providing some revenue visibility, though the business remains subject to cyclical demand patterns in consumer electronics. Several factors significantly impact LG Display's profit margins. Positive margin drivers include the ongoing shift toward higher-value OLED panels, which command premium pricing compared to traditional LCD panels. The company's focus on advanced technologies like tandem OLED for IT applications and specialized automotive displays also supports better margins. Operational efficiency improvements and cost reduction initiatives, including the company's ongoing business restructuring efforts, help reduce manufacturing costs. Negative margin pressures come from intense competition in the display panel industry, particularly from Chinese manufacturers who often compete on price. Cyclical downturns in consumer electronics demand, such as the recent sluggishness in PC and smartphone markets, reduce both volume and pricing power. The capital-intensive nature of display manufacturing requires substantial ongoing investment in new production lines and technology upgrades. Additionally, the company faces foreign exchange risks as it operates globally but reports in Korean won, and fluctuations in raw material costs can impact manufacturing expenses. The company has been implementing cost reduction measures and focusing on higher-margin products to improve profitability, with management targeting continued operational efficiency gains and strategic portfolio optimization.
Competitive moat
LG Display's competitive position is moderately strong but faces significant challenges. The company's primary moat comes from its technological leadership in OLED manufacturing, particularly in large-format OLED panels for premium TVs and specialized applications like automotive displays. LG Display has developed proprietary technologies such as tandem OLED for IT applications and advanced P-OLED for mobile devices, which provide some differentiation from competitors. The company benefits from established customer relationships with major global brands and the high switching costs associated with display panel sourcing, as OEMs typically require extensive qualification processes and long-term supply agreements. LG Display's manufacturing scale and global production footprint also provide some competitive advantages in serving large multinational customers. However, the company's moat is under pressure from several directions. Chinese competitors like BOE and CSOT have been rapidly expanding their OLED capabilities and competing aggressively on price, particularly in the mobile and TV segments. Samsung Display remains a formidable competitor with strong OLED technology and closer integration with Samsung's device businesses. The display panel industry is inherently cyclical and commoditized, with limited pricing power during demand downturns. The company's heavy debt burden and recent losses have also weakened its competitive position, limiting its ability to invest as aggressively in new technologies and capacity as some competitors. While LG Display maintains technological leadership in certain OLED applications, the sustainability of this advantage depends on continued innovation and successful execution of its OLED-centric strategy transformation.
Risks & safety
LG Display faces significant financial stress with limited margin of safety. The overall assessment indicates elevated risk due to high leverage and ongoing losses. • Cash burn and solvency risk: The company maintains KRW 1.36 trillion in cash but faces a current ratio of only 0.60, indicating potential liquidity challenges. Free cash flow turned positive at KRW 615 billion in Q4 2024 after previous quarters of cash consumption. • Debt levels: Debt-to-equity ratio of 223% represents extremely high leverage. Net losses of KRW 1.72 trillion in 2024 despite revenue growth of 25% demonstrate profitability challenges. • Valuation metrics: Trading at 0.69x book value and 2.84x EV/EBITDA suggests potential value, but negative earnings make traditional P/E ratios meaningless. The low price-to-book ratio reflects market skepticism about asset quality and earning power. • Other considerations: The company completed a KRW 1.43 trillion capital raise in 2023 to strengthen its balance sheet, and management has reduced capital expenditure to preserve cash. However, the business remains in a turnaround phase with uncertain timing for sustained profitability.
Recent development
Over the past few years, LG Display has undergone a fundamental strategic transformation centered on transitioning from a traditional LCD-focused manufacturer to an OLED-centric business model. This shift has been driven by the need to escape the commoditized, low-margin LCD market and compete in higher-value display segments. The company has systematically reduced its LCD TV panel production and is exploring the sale of non-strategic assets, including its Guangzhou LCD TV fabrication facility. Simultaneously, LG Display has expanded its OLED capabilities across all business segments, with OLED products now representing 60% of total revenue compared to much lower levels in previous years. Key technological developments include the advancement of tandem OLED technology for IT applications, which offers improved power efficiency and longer lifespan for laptop and tablet displays. The company has also strengthened its position in automotive displays, securing relationships with over 10 global premium OEM brands and developing specialized products like P-OLED and ATO (Advanced Thin OLED) technologies for vehicle applications. To address financial challenges, LG Display completed a significant KRW 1.43 trillion capital increase in 2023 and has implemented aggressive cost reduction measures, including voluntary retirement programs and operational efficiency initiatives. The company has also adopted a more conservative approach to capital expenditure, reducing planned investments to preserve cash while focusing on essential technology upgrades and capacity optimization. Management has emphasized improving business fundamentals and achieving sustainable profitability rather than pursuing aggressive growth, reflecting lessons learned from previous cycles of over-investment in the capital-intensive display industry.
LPL company profile · for informational purposes only — not investment advice.
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