MARKETS / NASDAQ / OLED

NASDAQ · ELECTRONIC COMPONENTS & ACCESSORIES · LARGE CAP

Universal Display Corp. \pa\ OLED

17 fiscal years on record · USD · FY2025 reported · SEC filings only

8 YEARS OF DIVIDEND GROWTH

Revenue

$650.6M

▲ 0.5% YoY

Net income

$242.1M

▲ 9.0% YoY

Free cash flow

$154.4M

▼ 26.9% YoY

In brief

What this company does

It manufactures and sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products, and it enters into agreements with manufacturers of OLED display and lighting products under which it grants them licenses to practice under its patents and to use its proprietary know-how. The company currently owns, exclusively licenses or has the sole right to sublicense more than 7,000 patents issued and pending worldwide. As of December 31, 2025, the company had 469 active employees, none of whom are unionized. It has established wholly-owned subsidiaries in Ireland, Korea, Japan, China and Hong Kong, as well as a representative office in Taiwan. In 2025, the company received a majority of its revenue from three customers domiciled in the Asia-Pacific region, BOE, LG Display and SDC, from each of which it had revenue in excess of 10% of its consolidated revenue. The corporation was organized under the laws of the Commonwealth of Pennsylvania in 1985.

Written from the business description in Universal Display Corporation's annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 650.6M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 650.6 · Net income 242.1

Compound annual growth

Revenue

+1.8%

+8.7%

+13.0%

+22.6%

Net income

+4.8%

+12.7%

+8.8%

EPS, diluted

+4.9%

+12.7%

+8.8%

Dividend / share

+14.5%

+24.6%

Returned to shareholders

+26.9%

+32.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +8.7% a year over five years — but profit grew faster: net income at +12.7%, earnings per share at +12.7%.

The share count fell from 0.05B to 0.05B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

37 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 38.2% · Net 37.2%

ROE

FY2025 · ROE 14.3%

Gross margin76.3%

Operating margin38.2%

Net margin37.2%

Return on assets12.8%

EBITDAUSD 277.0M

Each USD of equity produced 14 cents of profit this year.

Cash & shareholders

USD 116.4M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 154.4

Net buybacks $M Dividends $M

FY2025 · Dividends 85.5 · Net buybacks 30.9

Dividends paidUSD 85.5M

Net buybacksUSD 30.9M

Share of profit48.1%

Consecutive raises8 years

USD 85.5M in dividends and USD 30.9M in buybacks — 48% of the year's profit went back to shareholders.

Total assetsUSD 2.0B

EquityUSD 1.8B

CashUSD 138.4M

Current ratio10.06×

Equity funds 90% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.7	0.6	0.6	0.6	0.6	0.4	0.4	0.2	0.3	0.2	0.2	0.2	0.1	0.1	0.1	0.0	0.0
Operating income $B	0.2	0.2	0.2	0.3	0.2	0.2	0.2	0.1	0.1	0.1	0.0	0.1	0.0	0.0	0.0	−0.0	−0.0
EBITDA $B	0.3	0.3	0.2	0.3	0.2	0.2	0.2	0.1	0.2	0.1	0.0	0.1	0.0	0.0	0.0	−0.0	−0.0
Income tax $B	0.1	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	−0.0	−0.0	−0.0
Net income $B	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.0	0.1	0.0	0.1	0.0	0.0	−0.0	−0.0
Free cash flow $B	0.2	0.2	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	−0.0	−0.0
EPS, diluted $	5.08	4.65	4.24	4.40	3.87	2.80	2.92	1.24	2.18	1.02	2.18	0.90	1.59	0.21	0.07	−0.53	−0.56
Dividend / sh $	1.80	1.60	1.40	1.20	0.80	0.60	0.40	0.24	0.12	·	·	·	·	·	·	·	·
Payout %	35	34	33	27	21	21	14	19	5	·	·	·	·	·	·	·	·
ROE %	14.3	14.5	14.9	17.7	18.3	15.5	18.4	8.7	17.5	9.7	22.7	9.6	19.0	2.8	1.6	−34.0	−34.4
Shares out B	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 78 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityElectronic Components & Accessories

Listed onNASDAQ

Incorporated inPennsylvania

Fiscal year endsDecember 31

Data on record since2009