Universal Display Corporation

OLEDNASDAQTechnology● Active

$87.89

+$1.78(+2.07%)

Market Cap$4.1B

P/E Ratio—

52W High$163.21

52W Low$83.64

Avg Volume851K

Open$87.75

Beta1.54

Free Cash Flow Financials Revenue

Universal Display Corporation (OLED) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

OLED · free cash flow · updated Jun 8, 2026

Core FCF metrics

OLED · FCF · TTM · margin & CAGR

Free cash flow was $154.4M for FY2025 (fiscal year ending 2025-12-31), down 26.9% year-over-year The FCF margin was 23.7%. Five-year CAGR stands at +5.0%.

FY2025 Free Cash Flow$154.4M▼ -26.9% YoY

Trailing 12M (TTM)$237.1Mtrailing 4 quarters sum

FCF Margin23.7%$154.4M ÷ revenue

3-Year CAGR+24.7%FY2022 → FY2025

5-Year CAGR+5.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

OLED · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$210.8M(56M)$154.4M▼ 26.9%23.7%

FY2024$253.7M(43M)$211.1M▲ +642.7%32.6%

FY2023$154.8M(126M)$28.4M▼ 64.3%4.9%

FY2022$126.8M(47M)$79.6M▼ 46.0%12.9%

FY2021$191.1M(44M)$147.6M▲ +22.2%26.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

OLED · P/FCF · FCF yield · FCF per share

Universal Display Corporation (OLED) trades at a FCF yield of 5.75% and a price-to-free-cash-flow ratio of 17.6x. FCF per share stands at $4.99, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.75%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.99

TTM FCF ÷ Shares Outstanding

Price / FCF

x17.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x16.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

OLED · cash flow statement · operating / investing / financing

For FY2025, Universal Display Corporation generated $210.8M in operating cash flow and spent 56M in capital expenditures, yielding $154.4M in free cash flow.

Operating Activities

+$210.8M

Cash from core business operations

2025-12-31

Investing Activities

−$45.5M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$126.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($210.8M) − |CapEx| (56M) = FCF ($154.4M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

OLED vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Universal Display CorporationYOU

OLED

$154.4M-26.9%23.7%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Universal Display Corporation (OLED) reported free cash flow of $154.4M for FY2025 (fiscal year ending 2025-12-31), down 26.9% year-over-year. The FCF margin was 23.7%.

Based on available data, Universal Display Corporation has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $211.1M in FY2024. The 5-year CAGR stands at +5.0%.

Universal Display Corporation's FCF yield is 5.75% and price-to-FCF ratio is 17.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

OLED free cash flow · 8 questions

Universal Display Corporation free cash flow was $154.4M for FY2025, down 26.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $237.1M.

OLED free cash flowOLED FCFOLED FCF 2025OLED free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Universal Display Corporation · Universal Display Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026