Universal Display Corporation
- Open
- 82.55
- Day high
- 84.65
- Day low
- 82.40
- Prev close
- 82.41
- Volume
- 565K
- Mkt cap
- $3.8B
- P/E (TTM)
- 20.1
- EPS (TTM)
- $4.15
- P/B
- 2.3
- P/S
- 6.3
- Yield
- 2.27%
- Per share
- $1.90
- ▼Insiders net selling -$422K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Universal Display Corporation (OLED) is a Technology company listed on NASDAQ. The stock is down 40% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering OLED.
Universal Display Corporation (OLED) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OLED earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $1.03 | $1.06 | +2.9% | $152M | -3.4% |
| Apr 30, 2026 | $1.13 | $0.76 | -32.7% | $142M | -11.8% |
| Feb 19, 2026 | $1.28 | $1.39 | +8.6% | $173M | +2.7% |
| Jul 31, 2025 | $1.18 | $1.41 | +19.4% | $172M | +2.9% |
| May 1, 2025 | $1.08 | $1.35 | +25.5% | $166M | +5.5% |
| Feb 20, 2025 | $1.09 | $1.22 | +12.1% | $162M | +5.5% |
| Oct 30, 2024 | $1.19 | $1.40 | +17.7% | $162M | +5.3% |
| Aug 1, 2024 | $1.14 | $1.10 | -3.5% | $159M | -0.3% |
| May 2, 2024 | $1.08 | $1.19 | +9.8% | $165M | +10.7% |
| Feb 22, 2024 | $1.16 | $1.29 | +11.6% | $158M | -2.0% |
| Nov 2, 2023 | $1.01 | $1.08 | +6.4% | $141M | -7.0% |
| Aug 3, 2023 | $0.75 | $1.04 | +37.9% | $147M | +13.3% |
OLED insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | LACERTE LAWRENCEdirector | Sell | 314 | $85.56 |
| Aug 20, 2026 | LACERTE LAWRENCEdirector | Sell | 4,653 | $84.94 |
| Jul 2, 2026 | HARTLEY C KEITHdirector | Grant | 455 | — |
| Jul 2, 2026 | Brown Nigeldirector | Grant | 455 | — |
| Jul 2, 2026 | Walker Aprildirector | Grant | 455 | — |
| Jul 2, 2026 | Lau Joandirector | Grant | 455 | — |
| Jul 2, 2026 | ROSENBLATT SIDNEY Ddirector | Grant | 455 | — |
| Jul 2, 2026 | Joseph Celia Mdirector | Grant | 455 | — |
| Jul 2, 2026 | Comparin Cynthia Janedirector | Grant | 455 | — |
| Jul 2, 2026 | LACERTE LAWRENCEdirector | Grant | 455 | — |
| Jul 2, 2026 | GEMMILL ELIZABETH Hdirector | Grant | 455 | — |
| Jul 2, 2026 | ELIAS RICHARD Cdirector | Grant | 455 | — |
| May 13, 2026 | ELIAS RICHARD Cdirector | Buy | 1,000 | $92.84 |
| May 11, 2026 | Premutico Mauroofficer: SVP & CLO | Buy | 800 | $94.40 |
| May 11, 2026 | ABRAMSON STEVEN Vdirector, officer: President and CEO | Buy | 4,550 | $93.62 |
Source: OLED SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full OLED insider & 13F page →Universal Display Corporation company profile
Overview
Universal Display Corporation (NASDAQ:OLED) is a materials science company founded in 1985 and headquartered in Ewing, New Jersey. The company pioneered the development and commercialization of organic light-emitting diode (OLED) technologies, establishing itself as a leading supplier of proprietary OLED materials and holder of fundamental patents in the field. Universal Display went public in 1996 and has since become the dominant player in phosphorescent OLED materials, which are essential components in modern smartphone displays, televisions, and emerging applications like automotive displays and IT devices.
Business
Universal Display Corporation operates in the specialized semiconductor materials sector, focusing on organic light-emitting diode (OLED) technologies. OLED displays represent a significant advancement over traditional LCD screens because they emit their own light without requiring a backlight, enabling thinner designs, better contrast ratios, deeper blacks, and more vibrant colors. The company's core business revolves around phosphorescent OLED materials, particularly its proprietary UniversalPHOLED technology. These materials are chemical compounds that convert electrical energy into light with superior efficiency compared to fluorescent alternatives. When an electric current passes through these phosphorescent materials, they emit red, green, or blue light that forms the pixels in OLED displays. Universal Display's business segments include: 1. Material Sales (approximately 56% of revenue): The company manufactures and sells proprietary OLED materials, primarily green and red phosphorescent emitters, to display manufacturers worldwide. These materials are consumed during the OLED panel manufacturing process. 2. Royalty and License Revenues (approximately 41% of revenue): Universal Display licenses its extensive patent portfolio of over 5,500 issued and pending patents to OLED panel manufacturers. The company receives royalty payments based on the number of OLED panels produced using its patented technologies. 3. Adesis Contract Research (approximately 3% of revenue): Through its Adesis subsidiary, the company provides custom chemical synthesis and research services for both OLED and non-OLED applications. The company is also developing next-generation technologies including blue phosphorescent materials (which could increase display efficiency by up to 25%), FOLED (flexible OLEDs), OVJP (Organic Vapor Jet Printing for manufacturing), and thin-film encapsulation technologies.
Revenue model
Universal Display generates revenue through three primary business models. The largest revenue stream comes from direct material sales, where the company sells its proprietary phosphorescent OLED materials to display panel manufacturers like Samsung Display, LG Display, BOE, and other major producers. These materials are consumables that must be replenished as manufacturers produce OLED panels, creating a recurring revenue stream tied to global OLED production volumes. The second major revenue source is royalty and licensing fees, which provides highly profitable recurring income. Panel manufacturers pay Universal Display royalties based on the number of OLED displays they produce using the company's patented technologies. This creates a scalable business model where revenue grows with the overall OLED market without requiring proportional increases in manufacturing costs. The company's customers are primarily large display panel manufacturers rather than end consumers. Major customers include Samsung Display (the world's largest OLED producer), LG Display, BOE Technology Group, and other Asian panel manufacturers who supply OLED screens to smartphone makers like Apple and Samsung, TV manufacturers, and emerging applications in automotive and IT devices. Several factors influence Universal Display's profit margins. Positive margin drivers include the company's strong patent position and technological leadership, which provide pricing power and protect against commoditization. The royalty business model offers exceptional scalability since licensing revenue has minimal incremental costs. Growing OLED adoption across multiple device categories also drives volume growth. Margin pressures come from customer concentration risk, as a significant portion of revenue depends on major panel manufacturers' production decisions. Competitive threats from Chinese companies developing alternative OLED materials could pressure pricing over time. Additionally, the cyclical nature of consumer electronics demand creates revenue volatility, and the company faces ongoing R&D expenses to maintain technological leadership, particularly in developing blue phosphorescent materials.
Competitive moat
Universal Display possesses a strong competitive moat built primarily on its extensive intellectual property portfolio and technological leadership. The company owns over 5,500 issued and pending patents covering fundamental OLED technologies, creating significant barriers to entry for competitors. This patent fortress is particularly valuable because OLED technology relies on complex chemical formulations and manufacturing processes that are difficult to engineer around without infringing on Universal Display's intellectual property. The company's technological moat is reinforced by its decades of research and development expertise in phosphorescent OLED materials. Universal Display has established itself as the industry standard for high-efficiency OLED materials, with its UniversalPHOLED technology being widely adopted by major display manufacturers. The company's ongoing development of blue phosphorescent materials represents a significant technological advancement that could further strengthen its competitive position. However, the moat faces several potential challenges. Geographic concentration risk exists as most OLED manufacturing occurs in Asia, particularly China and South Korea, where local governments may support domestic alternatives to reduce dependence on foreign technology. Chinese companies are actively developing competing OLED materials, though they currently lag behind Universal Display's performance standards. The customer concentration risk also presents vulnerability, as a small number of large panel manufacturers generate most of Universal Display's revenue. If major customers like Samsung Display or LG Display significantly reduced their OLED production or switched to alternative materials, it could materially impact the company's financial performance. Additionally, the patent cliff risk looms as some of Universal Display's foundational patents will eventually expire, potentially allowing competitors to use previously protected technologies. The company must continue innovating and filing new patents to maintain its technological leadership and pricing power over the long term.
Risks & safety
Universal Display demonstrates a strong margin of safety with excellent financial health and conservative capital structure. Liquidity and Solvency: - Minimal debt with debt-to-equity ratio of 0.01 - Strong current ratio of 7.2, indicating excellent short-term liquidity - Positive free cash flow of $17.5 million in Q1 2025 - Cash and short-term investments of $157 million - No significant solvency concerns given strong balance sheet Valuation Metrics: - Price-to-earnings ratio of 25.7 (reasonable for a technology leader) - EV/EBITDA of 23.2 (elevated but justified by growth prospects) - Price-to-book ratio of 4.0 (reflects intangible asset value) - Graham number suggests potential undervaluation at current levels Other Considerations: - High gross margins of 77% provide cushion against cost pressures - Diversified revenue streams reduce single-point-of-failure risk - Strong return on equity of 13.8% demonstrates efficient capital allocation - Regular dividend payments and share repurchases return capital to shareholders
Recent development
Universal Display has made significant strategic advances over the past few years, with the most important development being the progression of blue phosphorescent OLED materials. The company has moved from early-stage research to commercial verification, with LG Display announcing successful verification of blue phosphorescent OLED panels in 2025. This breakthrough technology could increase display energy efficiency by up to 25% and represents a potential game-changer for the OLED industry. The company has also focused on geographic expansion and manufacturing diversification, opening a new manufacturing facility in Shannon, Ireland, to reduce dependence on Asian production and serve European customers. This facility expansion supports the company's strategy to localize production closer to key markets while maintaining supply chain resilience. Strategic partnerships and acquisitions have strengthened Universal Display's competitive position. The company acquired Merck KGaA's phosphorescent emitter portfolio, adding over 550 patents to its intellectual property arsenal. Additionally, Universal Display signed a long-term supply agreement with BOE Technology Group, one of China's largest display manufacturers, securing revenue visibility and market access. The company has also advanced its next-generation manufacturing technologies, particularly OVJP (Organic Vapor Jet Printing), which enables side-by-side pixel printing and could revolutionize OLED manufacturing efficiency. Universal Display achieved a milestone by demonstrating 160 pixels per inch resolution with OVJP technology. Market expansion initiatives include exploring new applications beyond traditional smartphones and TVs, with growing focus on automotive OLED displays, AR/VR devices, and IT applications like tablets and laptops. The company has also launched the Sherwin I. Seligsohn Innovation Award to support research in organic electronics and foster industry collaboration.
OLED company profile · for informational purposes only — not investment advice.
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