Universal Display Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	213.53	242.08	222.08	203.01	210.06	184.21
Depreciation & Amortization	48.65	46.59	44.14	43.4	42.27	41.96
Stock-Based Compensation	28.71	28.23	30.03	24.11	29.95	36.28
Other Adjustments	2.87	-6.53	-17.21	-12.24	-21.17	10.25
Change in Receivables	45.93	-6.31	26.2	-47.19	14.98	-25.38
Changes in Inventories	-50.82	-57.97	-7.14	7.43	-49.06	-42.57
Changes in Accounts Payable	0.16	2.11	10.36	4.05	3.34	1.9
Changes in Unearned Revenue	-2.35	-10.66	-26.11	-4.16	-93.2	-5.22
Changes in Other Operating Activities	4.85	-26.71	-28.61	-63.63	-10.35	-10.33
Operating Cash Flow	289.14	210.83	253.74	154.78	126.82	191.11
Operating Cash Flow Growth	36.30%	-16.91%	63.94%	22.05%	-33.64%	28.44%
Capital Expenditures	-52.02	-56.47	-42.64	-59.79	-42.5	-43.16
Purchases of Intangible Assets	-	-10	-	-66.56	-4.71	-0.39
Purchases of Investments	-452.74	-375.51	-594.85	-531.1	-701.99	-642.18
Proceeds from Sale of Investments	460.98	396.5	473.08	574.17	468.46	227.98
Investing Cash Flow	-93.78	-45.48	-164.41	-83.29	-280.74	-457.75
Issuance of Common Stock	2.02	2.02	2.22	2.01	1.57	1.51
Repurchase of Common Stock	-7.91	-42.45	-8.39	-8.21	-9.21	-14.95
Net Common Stock Issued (Repurchased)	-5.89	-40.43	-6.17	-6.19	-7.64	-13.44
Common Dividends Paid	-87.6	-85.55	-76.17	-66.74	-57	-37.93
Financing Cash Flow	-193.49	-125.98	-82.34	-72.93	-64.64	-51.37
Net Cash Flow	1.88	39.37	7	-1.45	-218.56	-318.02
Free Cash Flow	237.13	154.36	211.1	94.99	84.32	147.94
Free Cash Flow Growth	53.62%	-26.88%	122.25%	12.65%	-43.01%	22.47%
FCF Margin	37.85%	23.73%	32.59%	16.48%	13.67%	26.73%
Free Cash Flow Per Share	4.99	3.24	4.43	1.99	1.78	3.12
Levered Free Cash Flow	162	138.97	172.08	130.3	60.57	126.8
Unlevered Free Cash Flow	130.54	101.02	144.88	107.13	59.69	126.31

SEC Filings: 10-K · 10-Q