Universal Display Corporation (OLED)

Universal Display Income Statement

Financials in millions USD. Fiscal year is January - December.

Year	2023	2022	2021	2020	2019
Revenue	576.43	616.62	553.53	428.87	405.18
Revenue Growth (YoY)	-6.52%	11.40%	29.07%	5.85%	63.76%
Cost of Revenue	136.02	128.77	115.68	96.6	87.15
Gross Profit	440.41	487.85	437.84	332.26	318.03
Selling, General & Admin	67.39	77.89	80.37	61.35	59.61
Research & Development	130.48	117.06	99.67	83.89	71.28
Other Operating Expenses	25.35	25.79	30.15	29.5	28.8
Operating Expenses	223.22	220.74	210.2	174.74	159.68
Operating Income	217.19	267.11	227.64	157.53	158.34
Other Expense / Income	-27.98	-1.12	-0.6	-6	-11.56
Pretax Income	245.17	268.23	228.25	163.53	169.91
Income Tax	42.16	58.17	44.03	30.16	31.6
Net Income	203.01	210.06	184.21	133.37	138.3
Net Income Growth	-3.36%	14.03%	38.12%	-3.57%	135.05%
Shares Outstanding (Basic)	48	47	47	47	47
Shares Outstanding (Diluted)	48	47	47	47	47
Shares Change	0.32%	0.22%	0.27%	0.51%	0.21%
EPS (Basic)	4.25	4.41	3.87	2.80	2.92
EPS (Diluted)	4.24	4.40	3.87	2.80	2.92
EPS Growth	-3.64%	13.70%	38.21%	-4.11%	135.48%
Free Cash Flow	94.99	84.32	147.94	120.8	163.85
Free Cash Flow Per Share	2.00	1.78	3.13	2.56	3.49
Dividend Per Share	1.400	1.200	0.800	0.600	0.400
Dividend Growth	16.67%	50.00%	33.33%	50.00%	66.67%
Gross Margin	76.40%	79.12%	79.10%	77.47%	78.49%
Operating Margin	37.68%	43.32%	41.13%	36.73%	39.08%
Profit Margin	35.22%	34.07%	33.28%	31.10%	34.13%
Free Cash Flow Margin	16.48%	13.67%	26.73%	28.17%	40.44%
Effective Tax Rate	17.20%	21.69%	19.29%	18.44%	18.60%
EBITDA	288.57	310.5	270.21	200.72	204.32
EBITDA Margin	50.06%	50.36%	48.82%	46.80%	50.43%
Depreciation & Amortization	43.4	42.27	41.96	37.19	34.42
EBIT	245.17	268.23	228.25	163.53	169.91
EBIT Margin	42.53%	43.50%	41.24%	38.13%	41.93%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).