Universal Display Corporation (OLED) Income Statement
OLED 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOLED revenue and net income
Where OLED's revenue goes
2025Each bar shows an amount and its share of revenue. OLED kept 37.2% of revenue as net income.
OLED profit margins
OLED growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.5% | +1.8% | +8.7% | +13.0% |
| Gross profit | −0.5% | +0.5% | +7.7% | +14.5% |
| Operating income | +4.1% | −2.4% | +9.6% | +22.6% |
| Net income | +9.0% | +4.8% | +12.7% | +32.4% |
| EPS (diluted) | +9.0% | +4.8% | +12.6% | +31.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OLED quarterly EPS vs estimates
Universal Display beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 28, 2026 (estimate $1.14).
OLED income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $650.6M | $647.7M | $576.4M | $616.6M | $553.5M | $428.9M | $405.2M | $247.4M | $335.6M | $198.9M |
| Cost of revenue | $154.1M | $148.5M | $135.4M | $127.9M | $115.0M | $85.5M | $75.4M | $53.5M | $54.7M | $26.3M |
| Gross profit | $496.5M | $499.2M | $441.1M | $488.7M | $438.5M | $343.4M | $329.8M | $193.9M | $280.9M | $172.6M |
| Research & development | $146.1M | $157.2M | $130.5M | $117.1M | $99.7M | $83.9M | $71.3M | $53.7M | $49.1M | $42.7M |
| Sales, general & admin | $74.3M | $74.3M | $69.1M | $77.9M | $80.4M | $61.3M | $59.6M | $47.0M | $46.8M | $32.9M |
| Total operating expenses | $247.9M | $260.4M | $223.9M | $221.6M | $210.9M | $185.9M | $171.5M | $137.1M | $134.7M | $104.2M |
| Operating income | $248.6M | $238.8M | $217.2M | $267.1M | $227.6M | $157.5M | $158.3M | $56.7M | $146.2M | $68.4M |
| Interest income | $39.7M | $40.7M | $23.8M | $7.8M | $505,000 | $5.1M | $10.8M | $7.7M | $3.3M | $2.1M |
| Interest expense | — | — | — | $7.8M | $603,000 | $6.0M | $11.6M | $7.6M | $3.3M | $185,000 |
| Income before taxes | $294.8M | $272.1M | $245.2M | $268.2M | $228.2M | $163.5M | $169.9M | $64.3M | $149.5M | $68.6M |
| Income taxes | $52.7M | $50.0M | $42.2M | $58.2M | $44.0M | $30.2M | $31.6M | $5.5M | $45.7M | $20.5M |
| Net income | $242.1M | $222.1M | $203.0M | $210.1M | $184.2M | $133.4M | $138.3M | $58.8M | $103.9M | $48.1M |
| EBITDA | $295.2M | $316.3M | $288.6M | $310.5M | $270.2M | $194.7M | $192.8M | $87.3M | $175.2M | $91.2M |
| EPS (diluted) | $5.07 | $4.65 | $4.24 | $4.40 | $3.86 | $2.80 | $2.92 | $1.24 | $2.42 | $1.10 |
| Gross margin | 76.3% | 77.1% | 76.5% | 79.3% | 79.2% | 80.1% | 81.4% | 78.4% | 83.7% | 86.8% |
| Operating margin | 38.2% | 36.9% | 37.7% | 43.3% | 41.1% | 36.7% | 39.1% | 22.9% | 43.6% | 34.4% |
| Net margin | 37.2% | 34.3% | 35.2% | 34.1% | 33.3% | 31.1% | 34.1% | 23.8% | 31.0% | 24.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $152.2M | $142.2M | $172.9M | $139.6M | $171.8M | $166.3M | $162.3M | $161.6M | $158.5M | $165.3M | $158.3M | $141.1M |
| Cost of revenue | $36.8M | $36.1M | $41.3M | $35.5M | $39.2M | $38.1M | $37.4M | $35.8M | $38.3M | $37.0M | $36.0M | $34.2M |
| Gross profit | $115.4M | $106.1M | $131.6M | $104.1M | $132.6M | $128.1M | $124.9M | $125.8M | $120.2M | $128.3M | $122.3M | $106.8M |
| Research & development | $35.0M | $35.2M | $38.5M | $36.3M | $36.4M | $34.9M | $46.3M | $36.1M | $36.8M | $38.0M | $33.6M | $33.1M |
| Sales, general & admin | $18.6M | $20.0M | $18.8M | $18.0M | $20.4M | $17.0M | $19.5M | $15.7M | $19.8M | $19.3M | $16.8M | $18.1M |
| Total operating expenses | $61.7M | $63.3M | $64.4M | $61.0M | $64.1M | $58.5M | $72.5M | $58.8M | $63.7M | $65.4M | $57.6M | $58.4M |
| Operating income | $53.6M | $42.8M | $67.2M | $43.1M | $68.5M | $69.7M | $52.5M | $67.0M | $56.4M | $62.9M | $64.7M | $48.4M |
| Interest income | $8.5M | $8.7M | $9.8M | $10.0M | $9.8M | $10.1M | $10.6M | $10.6M | $9.9M | $9.6M | $7.9M | $7.1M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $6.3M | — |
| Income before taxes | $61.0M | $45.3M | $76.7M | $54.1M | $83.9M | $80.1M | $55.3M | $81.4M | $64.9M | $70.5M | $75.6M | $53.9M |
| Income taxes | $11.6M | $9.4M | $10.3M | $10.1M | $16.6M | $15.7M | $9.3M | $14.5M | $12.6M | $13.6M | $13.6M | $2.4M |
| Net income | $49.4M | $35.9M | $66.3M | $44.0M | $67.3M | $64.4M | $45.9M | $66.9M | $52.3M | $56.9M | $62.0M | $51.5M |
| EBITDA | $67.2M | $55.9M | $79.2M | $55.2M | $79.9M | $80.8M | $66.3M | $92.4M | $75.9M | $81.7M | $87.4M | $65.4M |
| EPS (diluted) | $1.06 | $0.76 | $1.39 | $0.92 | $1.41 | $1.35 | $0.96 | $1.40 | $1.10 | $1.19 | $1.29 | $1.08 |
| Gross margin | 75.8% | 74.6% | 76.1% | 74.6% | 77.2% | 77.1% | 77.0% | 77.8% | 75.8% | 77.6% | 77.2% | 75.7% |
| Operating margin | 35.3% | 30.1% | 38.9% | 30.9% | 39.9% | 41.9% | 32.3% | 41.5% | 35.6% | 38.0% | 40.9% | 34.3% |
| Net margin | 32.5% | 25.2% | 38.4% | 31.5% | 39.2% | 38.8% | 28.3% | 41.4% | 33.0% | 34.4% | 39.1% | 36.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OLED's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OLED financial results
In fiscal year 2025 (ended December 31, 2025), Universal Display reported revenue of $650.6 million, up 0.5% from the year before. It had net income of $242.1 million (up 9.0%), a net profit margin of 37.2%. Diluted earnings per share came to $5.07. Over five years revenue grew at an average rate of 8.7% a year.
See the OLED stock overview for the latest quote and news, or the OLED chart for price history and technical indicators.
OLED income statement FAQ
What is Universal Display's annual revenue?
Universal Display reported total revenue of $650.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.5% from $647.7 million the previous year.
Is Universal Display profitable?
Yes. Universal Display reported net income of $242.1 million in fiscal 2025, a net profit margin of 37.2%; its operating margin was 38.2%.
What is Universal Display's gross margin?
Universal Display's gross margin was 76.3% in fiscal 2025: for every $100 of revenue, Universal Display kept $76 after the direct cost of its products and services.
How much does Universal Display spend on research and development?
Universal Display spent $146.1 million on research and development in fiscal 2025, 22.5% of revenue.
How fast is Universal Display growing?
Revenue grew 8.7% a year on average over the last five fiscal years, from $428.9 million to $650.6 million.
What are Universal Display's earnings per share?
Universal Display earned $5.07 per diluted share in fiscal 2025, compared with $4.65 a year earlier.
When will Universal Display report its next earnings?
Universal Display is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does Universal Display's fiscal year end?
Universal Display's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.