Universal Display Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $242.1M | $222.1M | $203.0M | $210.1M | $184.2M | $133.4M | $138.3M | $58.8M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $28.4M | $25.9M | $27.4M | $24.8M | $20.0M | $15.2M | $12.5M | $8.6M |
| Amortization | $18.2M | $18.2M | $16.0M | $17.5M | $22.0M | $22.0M | $22.0M | $22.0M |
| Stock-Based Compensation | $28.2M | $30.0M | $24.1M | $29.9M | $34.9M | $26.6M | $16.1M | $12.4M |
| Net Cash from Operating Activities | $210.8M | $253.7M | $154.8M | $126.8M | $191.1M | $148.8M | $193.9M | $121.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $56.5M | $42.6M | $59.8M | $42.5M | $43.2M | $28.0M | $30.1M | $25.4M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-45.5M | $-164.4M | $-83.3M | $-280.7M | $-457.8M | $391.3M | $-238.7M | $-21.0M |
| Financing Activities | ||||||||
| Dividends Paid | $85.5M | $76.2M | $66.7M | $57.0M | $37.9M | $28.4M | $18.9M | $11.3M |
| Stock Repurchases | $32.9M | $0 | $0 | — | $0 | $0 | $649.0K | $477.0K |
| Net Cash from Financing Activities | $-126.0M | $-82.3M | $-72.9M | $-64.6M | $-51.4M | $-41.7M | $-34.6M | $-22.6M |
| Net Change in Cash | $39.4M | $7.0M | $-1.4M | $-218.6M | $-318.0M | $498.4M | $-79.4M | $78.2M |
| Free Cash Flow | $154.4M | $211.1M | $95.0M | $84.3M | $147.9M | $120.8M | $163.9M | $96.4M |