Universal Display Corporation (OLED) Financial Ratios
30 years of historical data (1996–2025) · Technology · Semiconductors
EV/EBITDA
↓
13.77
↓-43% vs avg
5yr avg: 24.35
30Y Low16.4·High54.3
P/FCF
↓
27.14
↓-73% vs avg
5yr avg: 101.38
30Y Low23.8·High124.1
P/B Ratio
↓
2.41
↓-52% vs avg
5yr avg: 4.98
30Y Low2.9·High21.8
ROE
↓
14.3%
-10% vs avg
5yr avg: 15.9%
30Y Low-142%·High19%
Debt/EBITDA
↑
0.15
↑+47% vs avg
5yr avg: 0.10
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
OLED Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Universal Display Corporation trades at 17.5x earnings, 47% below its 5-year average of 33.3x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 40%. On a free-cash-flow basis, the stock trades at 27.1x P/FCF, 73% below the 5-year average of 101.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.2B | $5.6B | $7.0B | $9.1B | $5.1B | $7.8B | $10.9B | $9.7B | $4.4B | $8.1B | $2.6B |
| Enterprise Value | $4.1B | $5.5B | $6.9B | $9.0B | $5.1B | $7.5B | $10.2B | $9.6B | $4.2B | $7.9B | $2.5B |
| P/E Ratio → | 17.51 | 22.99 | 31.44 | 45.11 | 24.55 | 42.64 | 82.07 | 70.57 | 74.86 | 79.20 | 55.20 |
| P/S Ratio | 6.44 | 8.55 | 10.76 | 15.80 | 8.32 | 14.12 | 25.31 | 23.90 | 17.74 | 24.08 | 13.17 |
| P/B Ratio | 2.41 | 3.16 | 4.31 | 6.29 | 4.02 | 7.11 | 11.89 | 11.93 | 6.35 | 12.26 | 4.96 |
| P/FCF | 27.14 | 36.06 | 33.00 | 320.47 | 64.42 | 52.98 | 89.90 | 59.25 | 45.52 | 78.03 | — |
| P/OCF | 19.87 | 26.40 | 27.46 | 58.85 | 40.44 | 40.90 | 72.95 | 49.94 | 36.03 | 60.59 | 32.61 |
P/E links to full P/E history page with 30-year chart
OLED EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Universal Display Corporation's enterprise value stands at 13.8x EBITDA, 43% below its 5-year average of 24.3x. The Technology sector median is 16.7x, placing the stock at a 17% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.41 | 10.63 | 15.68 | 8.21 | 13.61 | 23.86 | 23.58 | 16.88 | 23.68 | 12.47 |
| EV / EBITDA | 13.77 | 18.40 | 24.34 | 34.69 | 16.37 | 27.94 | 52.55 | 49.56 | 47.84 | 45.90 | 27.82 |
| EV / EBIT | 16.32 | 21.81 | 28.84 | 41.62 | 18.96 | 33.09 | 64.95 | 60.33 | 73.62 | 54.35 | 36.26 |
| EV / FCF | — | 35.44 | 32.62 | 318.04 | 63.61 | 51.05 | 84.74 | 58.44 | 43.33 | 76.75 | — |
OLED Profitability
Margins and return-on-capital ratios measuring operating efficiency
Universal Display Corporation earns an operating margin of 38.5%. ROE of 14.3% is modest. ROIC of 11.7% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.4% | 73.4% | 77.1% | 76.5% | 79.3% | 79.2% | 80.1% | 81.4% | 78.4% | 83.7% | 86.8% |
| Operating Margin | 38.5% | 38.5% | 36.9% | 37.7% | 43.3% | 41.1% | 36.7% | 39.1% | 22.9% | 43.6% | 34.4% |
| Net Profit Margin | 37.2% | 37.2% | 34.3% | 35.2% | 34.1% | 33.3% | 31.1% | 34.1% | 23.8% | 31.0% | 24.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.3% | 14.5% | 14.9% | 17.7% | 18.3% | 15.5% | 18.4% | 8.7% | 17.5% | 9.7% |
| ROA | 12.7% | 12.7% | 12.7% | 12.7% | 14.0% | 13.5% | 11.2% | 13.5% | 6.9% | 14.8% | 8.1% |
| ROIC | 11.7% | 11.7% | 12.3% | 12.6% | 19.8% | 30.9% | 24.4% | 20.5% | 8.5% | 24.0% | 13.5% |
| ROCE | 14.0% | 14.0% | 14.7% | 14.7% | 20.0% | 19.1% | 15.3% | 18.0% | 7.5% | 22.4% | 12.3% |
OLED Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Universal Display Corporation carries a Debt/EBITDA ratio of 0.1x, which is very conservative (95% below the sector average of 2.9x). The company holds a net cash position — cash of $138M exceeds total debt of $43M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | — | — | — | — |
| Debt / EBITDA | 0.15 | 0.15 | 0.07 | 0.09 | 0.09 | 0.10 | 0.04 | — | — | — | — |
| Net Debt / Equity | — | -0.05 | -0.05 | -0.05 | -0.05 | -0.26 | -0.68 | -0.16 | -0.31 | -0.20 | -0.26 |
| Net Debt / EBITDA | -0.32 | -0.32 | -0.28 | -0.27 | -0.21 | -1.06 | -3.20 | -0.68 | -2.42 | -0.77 | -1.56 |
| Debt / FCF | — | -0.62 | -0.38 | -2.43 | -0.81 | -1.93 | -5.16 | -0.81 | -2.19 | -1.28 | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($138M) exceeds total debt ($43M)
OLED Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Universal Display Corporation's current ratio of 10.06x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 7.83x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 7.72x to 10.06x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.06 | 10.06 | 7.18 | 7.72 | 6.63 | 4.93 | 5.61 | 4.91 | 4.77 | 8.13 | 9.58 |
| Quick Ratio | 7.83 | 7.83 | 5.72 | 6.24 | 5.28 | 4.21 | 5.05 | 4.51 | 4.24 | 7.57 | 9.15 |
| Cash Ratio | 5.58 | 5.58 | 3.93 | 4.33 | 4.26 | 3.53 | 4.43 | 4.00 | 3.87 | 6.59 | 8.16 |
| Asset Turnover | — | 0.33 | 0.35 | 0.35 | 0.40 | 0.38 | 0.34 | 0.36 | 0.27 | 0.43 | 0.32 |
| Inventory Turnover | 0.72 | 0.72 | 0.81 | 0.77 | 0.70 | 0.86 | 0.93 | 1.18 | 0.76 | 1.51 | 1.52 |
| Days Sales Outstanding | — | 67.30 | 64.05 | 88.55 | 54.85 | 70.98 | 70.01 | 54.46 | 63.63 | 56.94 | 45.87 |
OLED Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Universal Display Corporation returns 2.8% to shareholders annually — split between a 2.0% dividend yield and 0.8% buyback yield. The payout ratio of 35.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 1.5% | 1.1% | 0.7% | 1.1% | 0.5% | 0.3% | 0.2% | 0.3% | 0.1% | — |
| Payout Ratio | 35.3% | 35.3% | 34.3% | 32.9% | 27.1% | 20.6% | 21.3% | 13.6% | 19.2% | 5.4% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.7% | 4.4% | 3.2% | 2.2% | 4.1% | 2.3% | 1.2% | 1.4% | 1.3% | 1.3% | 1.8% |
| FCF Yield | 3.7% | 2.8% | 3.0% | 0.3% | 1.6% | 1.9% | 1.1% | 1.7% | 2.2% | 1.3% | — |
| Buyback Yield | 0.8% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.8% | 2.1% | 1.1% | 0.7% | 1.1% | 0.5% | 0.3% | 0.2% | 0.3% | 0.1% | 0.0% |
| Shares Outstanding | — | $48M | $48M | $48M | $47M | $47M | $47M | $47M | $47M | $47M | $47M |
Peer Comparison
Compare OLED with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 OLEDYou | $4B | 17.5 | 13.8 | 27.1 | 73.4% | 38.5% | 14.3% | 11.7% | 0.1 |
 LITE | $61B | 2297.3 | 819.5 | — | 28.0% | -10.9% | 2.5% | -4.3% | 34.0 |
 COHU | $3B | -43.6 | — | 303.8 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 ONTO | $17B | 120.1 | 84.2 | 55.4 | 49.7% | 13.2% | 6.8% | 5.7% | 0.1 |
 VECO | $5B | 135.0 | 127.6 | 106.4 | 40.0% | 5.4% | 4.3% | 2.8% | 6.6 |
 KOPN | $902M | 337.7 | — | — | 27.6% | -38.9% | 5.5% | -3.1% | — |
 VUZI | $275M | -7.9 | — | — | -16.9% | -515.5% | -89.7% | -142.3% | — |
 MVIS | $121M | -1.0 | — | — | -1435.4% | -5743.8% | -182.1% | -98.3% | — |
 AAPL | $4.4T | 39.9 | 30.8 | 44.3 | 46.9% | 32.0% | 171.4% | 67.4% | 0.8 |
 QCOM | $238B | 45.1 | 17.7 | 18.6 | 55.4% | 27.9% | 23.3% | 29.1% | 1.2 |
 AMAT | $490B | 71.3 | 58.3 | 86.0 | 48.7% | 29.2% | 35.5% | 32.9% | 0.8 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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OLED — Frequently Asked Questions
Quick answers to the most common questions about buying OLED stock.
What is Universal Display Corporation's P/E ratio?
Universal Display Corporation's current P/E ratio is 17.5x. The historical average is 62.8x.
What is Universal Display Corporation's EV/EBITDA?
Universal Display Corporation's current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 35.8x.
What is Universal Display Corporation's ROE?
Universal Display Corporation's return on equity (ROE) is 14.3%. The historical average is -22.7%.
Is OLED stock overvalued?
Based on historical data, Universal Display Corporation is trading at a P/E of 17.5x. Compare with industry peers and growth rates for a complete picture.
What is Universal Display Corporation's dividend yield?
Universal Display Corporation's current dividend yield is 2.02% with a payout ratio of 35.3%.
What are Universal Display Corporation's profit margins?
Universal Display Corporation has 73.4% gross margin and 38.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Universal Display Corporation have?
Universal Display Corporation's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.