Universal Display Corporation


SKU: OLED-1 Category:


Universal Display Corporation delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings. In the third quarter of 2023, they reported revenue of $141 million, operating profit of $48 million, and net income of $52 million. The OLED industry, driven by market dynamics, is transforming, particularly in consumer electronics. UDC’s vision of OLED-enabled flexible displays becoming ubiquitous is materializing with the advent of conformable, foldable, and rollable devices. Beyond smartphones, UDC identifies an untapped opportunity in the IT market, constituting only 2% of the segment. Their forecasts indicate a significant increase in OLED IT shipments, which are expected to double from 7.9 million units in 2023 to 18.8 million units in 2024, anticipating a new OLED adoption cycle in the upcoming year. The automotive industry is emerging as another promising arena for OLED applications. Notably, Audi, BYD, and Hyundai have integrated OLED displays in their vehicles, emphasizing OLED technology’s versatility, energy efficiency, and design flexibility. They also entered into a long-term OLED agreement with BOE Technology to provide BOE with its exclusive UniversalPHOLED phosphorescent OLED materials and technology for its OLED displays.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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