Universal Display Corporation (OLED)
Fair ValueFundamental
75
Price
$76.94
Market Cap
$3.54B
Part 1 · What the company is worth
Overview
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. It offers phosphorescent organic light-emitting diode (PHOLED) technologies and materials for displays and lighting products under the UniversalPHOLED brand. The company also offers FOLED that are flexible OLEDs for the fabrication of OLEDs on flexible substrates; and OVJP, an organic vapor jet printing technology. In addition, it provides technology development and support services, including third-party collaboration and support to third parties for the commercialization of their OLED products; and contract research services in the areas of chemical synthesis research, development, and commercialization for non-OLED applications, as well as engages in the intellectual property and technology licensing activities. The company has operations in South Korea, China, Japan, the United States, and internationally. Universal Display Corporation was incorporated in 1985 and is headquartered in Ewing, New Jersey.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
Universal Display names Idemitsu Kosan in its 10-K as a direct rival in OLED emitter and host materials, selling into the same display panel makers such as Samsung Display, LG Display and BOE.
Merck supplies OLED display materials to the same panel manufacturers and is listed among Universal Display's material-manufacturer competitors, though it is shifting from emissive materials toward transport and host layers.
Through its Cambridge Display Technology arm, Sumitomo Chemical develops polymer and solution-processable OLED emitting materials that compete for the same display-maker contracts.
The Korean specialist supplies blue fluorescent emitters to Samsung Display and other panel makers, the same emitter slot Universal Display is trying to win with its phosphorescent blue.
Duk San Neolux sells host, hole-transport and other OLED stack materials to the same Korean and Chinese panel makers, competing with Universal Display for content value inside each OLED layer.
The private Japanese developer markets TADF and hyperfluorescence emitters as an alternative to Universal Display's phosphorescent PHOLED technology for the same display customers.
Balance Sheet & Liquidity
Revenue
$607M
Trailing 12 months (through 6/30/2026)
Net Income
$196M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$154M
Total Equity
$1.76B
Total Liabilities
$203M
Current Ratio
8.50
Interest Coverage
-
Debt/EBITDA
0.08
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$87.21
Current Price
$76.94
Margin of Safety
+11.8%
Fair Value Range
$59.42 - $115.00
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
18.61
ROE
13.7%
P/B Ratio
2.10
P/FCF
16.10
Gross Margin
75.3%
ROIC
9.2%
Profitability Radar
Value Creation (Economic Moat)
ROIC
9.2%
WACC
12.9%
ROIC − WACC
-3.7 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- ROIC 9.2%
- Gross Margin 75.3%
- P/FCF 16.10
- P/B Ratio 2.10
- Debt/Equity ratio
- Operating Margin 34.1%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 11.3%
- Revenue Growth 5Y 8.7%
- Analyst Consensus 76% Buy
- PEG Ratio 1.44
- Earnings Quality (OCF/NI) 1.34
- Share Dilution -0.2%
- Piotroski F-Score 6/9
Failed (5)
- Price CAGR 3.14%
- Price below Graham Number
- DCF valuation (Overvalued)
- Earnings Surprise avg -24.6%
- Net Margin Trend 32.2% vs 36.9%
Unavailable (2)
- Dividend Payout NaN%
- Interest Coverage
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Steven V. Abramson | President, CEO & Director | 73 |
| Mr. Brian Millard CPA | VP, CFO & Treasurer | 42 |
| Dr. Julia J. Brown Ph.D. | Executive VP & Chief Technical Officer | 64 |
| Mr. Mauro Premutico J.D. | Senior VP of Planning, Chief Legal Officer & Secretary | 59 |
| Ms. Janice M. DuFour | Senior VP of Technology Commercialization & GM of Commercial Sales Business | 67 |
| Ms. Darice Liu | Senior Director of Investor Relations & Corporate Communications | - |
| Mr. Chandran Ramesh Nair | Chief Executive Officer of OVJP Operations | 56 |
Audit Risk
5
Board Risk
4
Compensation Risk
9
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-19
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-30
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-07-30
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for OLED, sourced from Markets Gazette.
- 3/11/2026NEUTRALOLED Stock Down 35% This Past Year, but One Fund Invested $9 Million More Anyway
Despite a 35% stock decline over the past year, a significant investment of $9 million was made into Universal Display Corporation by an unnamed fund. Universal Display Corporation is a key licensor of OLED technology and a supplier of essential materials to global display and lighting manufacturers. This substantial investment, made against a backdrop of recent stock underperformance, suggests strong conviction from the investor regarding the company's long-term prospects and its critical role in the expanding OLED market. Investors will monitor future performance for signs of a turnaround.
via Markets Gazette