Universal Display Corporation


SKU: OLED Category:


This is our first report on Universal Display Corporation, one of the largest players in the domain of OLED technologies and materials for use in display and solid-state lighting applications. The company delivered an all-around beat and is in a solid position for continued development in the expanding OLED market because of its outstanding workforce, innovative initiatives, lean operating strategy, and strong cash position. The management anticipates that the OLED market will continue on its long-term growth trajectory. The macroeconomic uncertainty could cause short-term OLED demand to vary. Besides, the OLED adoption curve is expected to be advanced by manufacturers and OEMs to medium and large-area displays, with OLED IP being a key area of near-term focus. During the last quarter, Samsung Display announced that it would invest in Gen-8 OLED capacity. It anticipates that this new capacity will be operational by 2024. Additionally, SDC predicted that the OLED market will more than double its current size, which is anticipated to reach around $45 billion by the end of 2022, to reach nearly $100 billion by 2030. We initiate coverage on the stock of Universal Display Corporation with a ‘Hold’ rating.

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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