UNIVERSAL DISPLAY CORP (OLED) Stock Fundamental Analysis
USA - NASDAQ:OLED - US91347P1057 - Common Stock
147.33 USD
+3.06 (+2.12%)
147.33 USD
0 (0%)
Taking everything into account, OLED scores 7 out of 10 in our fundamental rating. 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 priced too expensively while it is growing strongly. Keep and eye on this one! With these ratings, OLED could be worth investigating further for growth and quality investing!.
1. Profitability
1.1 Basic Checks
In the past year OLED was profitable.
OLED had a positive operating cash flow in the past year.
In the past 5 years OLED has always been profitable.
In the past 5 years OLED always reported a positive cash flow from operatings.
1.2 Ratios
OLED has a better Return On Assets (12.65%) than 84.82% of its industry peers.
OLED's Return On Equity of 14.25% is fine compared to the rest of the industry. OLED outperforms 78.57% of its industry peers.
Looking at the Return On Invested Capital, with a value of 11.73%, OLED belongs to the top of the industry, outperforming 83.04% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for OLED is in line with the industry average of 10.93%.
| 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's Profit Margin of 36.90% is amongst the best of the industry. OLED outperforms 95.54% of its industry peers.
In the last couple of years the Profit Margin of OLED has remained more or less at the same level.
Looking at the Operating Margin, with a value of 38.93%, OLED belongs to the top of the industry, outperforming 95.54% of the companies in the same industry.
OLED's Operating Margin has been stable in the last couple of years.
OLED has a better Gross Margin (77.19%) than 96.43% of its industry peers.
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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), OLED is creating some value.
Compared to 1 year ago, OLED has more shares outstanding
Compared to 5 years ago, OLED has about the same amount of shares outstanding.
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 21.03. This indicates that OLED is financially healthy and has little risk of bankruptcy at the moment.
OLED's Altman-Z score of 21.03 is amongst the best of the industry. OLED outperforms 89.29% 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 | 21.03 |
ROIC/WACC1.03
WACC11.37%
2.3 Liquidity
A Current Ratio of 8.05 indicates that OLED has no problem at all paying its short term obligations.
OLED has a better Current ratio (8.05) than 88.39% of its industry peers.
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
OLED shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.87%, which is quite good.
The Earnings Per Share has been growing by 9.75% on average over the past years. This is quite good.
OLED shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.04%.
OLED shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.83% yearly.
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
OLED is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.56% yearly.
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 Y13.52%
EPS Next 2Y13.02%
EPS Next 3Y16.75%
EPS Next 5Y20.56%
Revenue Next Year6.15%
Revenue Next 2Y8.37%
Revenue Next 3Y12.15%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 28.78, which means the current valuation is very expensive for OLED.
Compared to the rest of the industry, the Price/Earnings ratio of OLED indicates a somewhat cheap valuation: OLED is cheaper than 77.68% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.79. OLED is around the same levels.
A Price/Forward Earnings ratio of 24.81 indicates a rather expensive valuation of OLED.
Based on the Price/Forward Earnings ratio, OLED is valued a bit cheaper than the industry average as 69.64% of the companies are valued more expensively.
OLED's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.21.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.78 | ||
| Fwd PE | 24.81 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, OLED is valued a bit cheaper than the industry average as 72.32% of the companies are valued more expensively.
OLED's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. OLED is cheaper than 66.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 48.89 | ||
| EV/EBITDA | 19.54 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
OLED has an outstanding profitability rating, which may justify a higher PE ratio.
OLED's earnings are expected to grow with 16.75% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.13
PEG (5Y)2.95
EPS Next 2Y13.02%
EPS Next 3Y16.75%
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 2.20, OLED pays a better dividend. On top of this OLED pays more dividend than 83.93% of the companies listed in the same industry.
With a Dividend Yield of 1.23, OLED pays less dividend than the S&P500 average, which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
5.2 History
On average, the dividend of OLED grows each year by 32.14%, which is quite nice.
OLED has been paying a dividend for over 5 years, so it has already some track record.
OLED has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
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.
OLED's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.87%
EPS Next 2Y13.02%
EPS Next 3Y16.75%
147.33
+3.06 (+2.12%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners87.08%
Inst Owner Change0.78%
Ins Owners6.93%
Ins Owner Change0.06%
Market Cap7.00B
Analysts80
Price Target184.33 (25.11%)
Short Float %4.9%
Short Ratio3.29
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)0.04%
PT rev (3m)2.58%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.42%
EPS NY rev (1m)-0.14%
EPS NY rev (3m)3.88%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.76%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.51%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.78 | ||
| Fwd PE | 24.81 | ||
| P/S | 10.58 | ||
| P/FCF | 48.89 | ||
| P/OCF | 35.53 | ||
| P/B | 4.08 | ||
| P/tB | 4.3 | ||
| EV/EBITDA | 19.54 |
EPS(TTM)5.12
EY3.48%
EPS(NY)5.94
Fwd EY4.03%
FCF(TTM)3.01
FCFY2.05%
OCF(TTM)4.15
OCFY2.81%
SpS13.93
BVpS36.07
TBVpS34.28
PEG (NY)2.13
PEG (5Y)2.95
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%
ROICexcg growth 3Y-20.27%
ROICexcg 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 | 21.03 |
F-Score5
WACC11.37%
ROIC/WACC1.03
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 Y13.52%
EPS Next 2Y13.02%
EPS Next 3Y16.75%
EPS Next 5Y20.56%
Revenue 1Y (TTM)-16.04%
Revenue growth 3Y5.38%
Revenue growth 5Y9.83%
Sales Q2Q%8.38%
Revenue Next Year6.15%
Revenue Next 2Y8.37%
Revenue Next 3Y12.15%
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%