UNIVERSAL DISPLAY CORP (OLED) Stock Fundamental Analysis
USA - NASDAQ:OLED - US91347P1057 - Common Stock
147.28 USD
+0.38 (+0.26%)
147.28 USD
0 (0%)
We assign a fundamental rating of 7 out of 10 to OLED. OLED was compared to 112 industry peers in the Semiconductors & Semiconductor Equipment industry. OLED has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. OLED is not overvalued while it is showing excellent growth. This is an interesting combination. This makes OLED very considerable for growth and quality investing!
1. Profitability
1.1 Basic Checks
OLED had positive earnings in the past year.
In the past year OLED had a positive cash flow from operations.
OLED had positive earnings in each of the past 5 years.
In the past 5 years OLED always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 12.65%, OLED belongs to the top of the industry, outperforming 84.82% of the companies in the same industry.
OLED has a Return On Equity of 14.25%. This is in the better half of the industry: OLED outperforms 78.57% of its industry peers.
OLED's Return On Invested Capital of 11.73% is amongst the best of the industry. OLED outperforms 83.04% of its industry peers.
The Average Return On Invested Capital over the past 3 years for OLED is in line with the industry average of 11.03%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.65% | ||
| ROE | 14.25% | ||
| ROIC | 11.73% |
ROA(3y)12.61%
ROA(5y)12.15%
ROE(3y)14.68%
ROE(5y)15.04%
ROIC(3y)12.91%
ROIC(5y)13.02%
1.3 Margins
OLED has a better Profit Margin (36.90%) than 95.54% of its industry peers.
OLED's Profit Margin has been stable in the last couple of years.
OLED's Operating Margin of 38.93% is amongst the best of the industry. OLED outperforms 95.54% of its industry peers.
OLED's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 77.19%, OLED belongs to the top of the industry, outperforming 96.43% of the companies in the same industry.
OLED's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 38.93% | ||
| PM (TTM) | 36.9% | ||
| GM | 77.19% |
OM growth 3Y-3.57%
OM growth 5Y-1.15%
PM growth 3Y1.12%
PM growth 5Y0.2%
GM growth 3Y-0.99%
GM growth 5Y-0.44%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so OLED is still creating some value.
OLED has more shares outstanding than it did 1 year ago.
OLED has about the same amout of shares outstanding than it did 5 years ago.
There is no outstanding debt for OLED. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
OLED has an Altman-Z score of 21.37. This indicates that OLED is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of OLED (21.37) is better than 87.50% of its industry peers.
OLED has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | 21.37 |
ROIC/WACC0.99
WACC11.79%
2.3 Liquidity
OLED has a Current Ratio of 8.05. This indicates that OLED is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 8.05, OLED belongs to the top of the industry, outperforming 88.39% of the companies in the same industry.
OLED has a Quick Ratio of 6.39. This indicates that OLED is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 6.39, OLED belongs to the top of the industry, outperforming 87.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 8.05 | ||
| Quick Ratio | 6.39 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 9.87% over the past year.
The Earnings Per Share has been growing by 9.75% on average over the past years. This is quite good.
The Revenue for OLED has decreased by -16.04% in the past year. This is quite bad
Measured over the past years, OLED shows a quite strong growth in Revenue. The Revenue has been growing by 9.83% on average per year.
EPS 1Y (TTM)9.87%
EPS 3Y6.4%
EPS 5Y9.75%
EPS Q2Q%28.18%
Revenue 1Y (TTM)-16.04%
Revenue growth 3Y5.38%
Revenue growth 5Y9.83%
Sales Q2Q%8.38%
3.2 Future
The Earnings Per Share is expected to grow by 20.56% on average over the next years. This is a very strong growth
Based on estimates for the next years, OLED will show a quite strong growth in Revenue. The Revenue will grow by 17.10% on average per year.
EPS Next Y14.28%
EPS Next 2Y13.31%
EPS Next 3Y16.85%
EPS Next 5Y20.56%
Revenue Next Year6.63%
Revenue Next 2Y8.76%
Revenue Next 3Y12.21%
Revenue Next 5Y17.1%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
OLED is valuated quite expensively with a Price/Earnings ratio of 28.77.
78.57% of the companies in the same industry are more expensive than OLED, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of OLED to the average of the S&P500 Index (26.10), we can say OLED is valued inline with the index average.
A Price/Forward Earnings ratio of 24.67 indicates a rather expensive valuation of OLED.
Based on the Price/Forward Earnings ratio, OLED is valued a bit cheaper than 69.64% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.52. OLED is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.77 | ||
| Fwd PE | 24.67 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, OLED is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, OLED is valued a bit cheaper than the industry average as 67.86% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 48.87 | ||
| EV/EBITDA | 19.95 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates OLED does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of OLED may justify a higher PE ratio.
OLED's earnings are expected to grow with 16.85% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.01
PEG (5Y)2.95
EPS Next 2Y13.31%
EPS Next 3Y16.85%
5. Dividend
5.1 Amount
OLED has a Yearly Dividend Yield of 1.23%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.18, OLED pays a better dividend. On top of this OLED pays more dividend than 83.93% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.35, OLED's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
5.2 History
The dividend of OLED is nicely growing with an annual growth rate of 32.14%!
OLED has been paying a dividend for over 5 years, so it has already some track record.
As OLED did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)32.14%
Div Incr Years7
Div Non Decr Years7
5.3 Sustainability
OLED pays out 32.87% of its income as dividend. This is a sustainable payout ratio.
The dividend of OLED is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP32.87%
EPS Next 2Y13.31%
EPS Next 3Y16.85%
147.28
+0.38 (+0.26%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners87.08%
Inst Owner Change-0.16%
Ins Owners6.93%
Ins Owner Change-0.03%
Market Cap7.00B
Revenue(TTM)661.99M
Net Income(TTM)244.29M
Analysts80
Price Target184.33 (25.16%)
Short Float %4.14%
Short Ratio2.94
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
Yearly Dividend1.61
Dividend Growth(5Y)32.14%
DP32.87%
Div Incr Years7
Div Non Decr Years7
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)20.19%
Min EPS beat(2)19.17%
Max EPS beat(2)21.2%
EPS beat(4)3
Avg EPS beat(4)11.17%
Min EPS beat(4)-11.27%
Max EPS beat(4)21.2%
EPS beat(8)6
Avg EPS beat(8)7.69%
EPS beat(12)9
Avg EPS beat(12)12.55%
EPS beat(16)10
Avg EPS beat(16)7.53%
Revenue beat(2)2
Avg Revenue beat(2)4.59%
Min Revenue beat(2)4.45%
Max Revenue beat(2)4.74%
Revenue beat(4)3
Avg Revenue beat(4)2.81%
Min Revenue beat(4)-4%
Max Revenue beat(4)6.06%
Revenue beat(8)4
Avg Revenue beat(8)0.67%
Revenue beat(12)7
Avg Revenue beat(12)2.4%
Revenue beat(16)8
Avg Revenue beat(16)0.98%
PT rev (1m)0%
PT rev (3m)0.54%
EPS NQ rev (1m)0.28%
EPS NQ rev (3m)-1.64%
EPS NY rev (1m)0.68%
EPS NY rev (3m)3.84%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)-1.64%
Revenue NY rev (1m)0.46%
Revenue NY rev (3m)0.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.77 | ||
| Fwd PE | 24.67 | ||
| P/S | 10.57 | ||
| P/FCF | 48.87 | ||
| P/OCF | 35.52 | ||
| P/B | 4.08 | ||
| P/tB | 4.3 | ||
| EV/EBITDA | 19.95 |
EPS(TTM)5.12
EY3.48%
EPS(NY)5.97
Fwd EY4.05%
FCF(TTM)3.01
FCFY2.05%
OCF(TTM)4.15
OCFY2.82%
SpS13.93
BVpS36.07
TBVpS34.28
PEG (NY)2.01
PEG (5Y)2.95
Graham Number64.47
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.65% | ||
| ROE | 14.25% | ||
| ROCE | 14.27% | ||
| ROIC | 11.73% | ||
| ROICexc | 16.54% | ||
| ROICexgc | 17.72% | ||
| OM | 38.93% | ||
| PM (TTM) | 36.9% | ||
| GM | 77.19% | ||
| FCFM | 21.64% |
ROA(3y)12.61%
ROA(5y)12.15%
ROE(3y)14.68%
ROE(5y)15.04%
ROIC(3y)12.91%
ROIC(5y)13.02%
ROICexc(3y)20.07%
ROICexc(5y)25.04%
ROICexgc(3y)21.95%
ROICexgc(5y)29.41%
ROCE(3y)15.71%
ROCE(5y)15.84%
ROICexgc growth 3Y-20.27%
ROICexgc growth 5Y-23.51%
ROICexc growth 3Y-18.97%
ROICexc growth 5Y-17.23%
OM growth 3Y-3.57%
OM growth 5Y-1.15%
PM growth 3Y1.12%
PM growth 5Y0.2%
GM growth 3Y-0.99%
GM growth 5Y-0.44%
F-Score5
Asset Turnover0.34
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 121.13% | ||
| Cap/Sales | 8.13% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 65.22% | ||
| Profit Quality | 58.63% | ||
| Current Ratio | 8.05 | ||
| Quick Ratio | 6.39 | ||
| Altman-Z | 21.37 |
F-Score5
WACC11.79%
ROIC/WACC0.99
Cap/Depr(3y)166.44%
Cap/Depr(5y)135.73%
Cap/Sales(3y)12.05%
Cap/Sales(5y)10.12%
Profit Quality(3y)49.16%
Profit Quality(5y)63.84%
High Growth Momentum
Growth
EPS 1Y (TTM)9.87%
EPS 3Y6.4%
EPS 5Y9.75%
EPS Q2Q%28.18%
EPS Next Y14.28%
EPS Next 2Y13.31%
EPS Next 3Y16.85%
EPS Next 5Y20.56%
Revenue 1Y (TTM)-16.04%
Revenue growth 3Y5.38%
Revenue growth 5Y9.83%
Sales Q2Q%8.38%
Revenue Next Year6.63%
Revenue Next 2Y8.76%
Revenue Next 3Y12.21%
Revenue Next 5Y17.1%
EBIT growth 1Y-12.74%
EBIT growth 3Y1.61%
EBIT growth 5Y8.57%
EBIT Next Year27.48%
EBIT Next 3Y20.35%
EBIT Next 5YN/A
FCF growth 1Y778.82%
FCF growth 3Y12.69%
FCF growth 5Y5.26%
OCF growth 1Y100.89%
OCF growth 3Y9.91%
OCF growth 5Y5.53%
UNIVERSAL DISPLAY CORP / OLED FAQ
What is the fundamental rating for OLED stock?
ChartMill assigns a fundamental rating of 7 / 10 to OLED.
Can you provide the valuation status for UNIVERSAL DISPLAY CORP?
ChartMill assigns a valuation rating of 4 / 10 to UNIVERSAL DISPLAY CORP (OLED). This can be considered as Fairly Valued.
What is the profitability of OLED stock?
UNIVERSAL DISPLAY CORP (OLED) has a profitability rating of 8 / 10.
Can you provide the PE and PB ratios for OLED stock?
The Price/Earnings (PE) ratio for UNIVERSAL DISPLAY CORP (OLED) is 28.77 and the Price/Book (PB) ratio is 4.08.
Is the dividend of UNIVERSAL DISPLAY CORP sustainable?
The dividend rating of UNIVERSAL DISPLAY CORP (OLED) is 5 / 10 and the dividend payout ratio is 32.87%.