UNIVERSAL DISPLAY CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $650.6M | $647.7M | $576.4M | $616.6M | $553.5M | $428.9M | $405.2M | $247.4M |
| Cost of Revenue | $154.1M | $148.5M | $135.4M | $127.9M | $115.0M | $85.5M | $75.4M | $53.5M |
| Gross Profit | $496.5M | $499.2M | $441.1M | $488.7M | $438.5M | $343.4M | $329.8M | $193.9M |
| Gross Margin | 76.3% | 77.1% | 76.5% | 79.3% | 79.2% | 80.1% | 81.4% | 78.4% |
| Operating Expenses | ||||||||
| Research & Development | $146.1M | $157.2M | $130.5M | $117.1M | $99.7M | $83.9M | $71.3M | $53.7M |
| SG&A Expense | $74.3M | $74.3M | $67.4M | $77.9M | $80.4M | $61.3M | $59.6M | $47.0M |
| Operating Income | $248.6M | $238.8M | $217.2M | $267.1M | $227.6M | $157.5M | $158.3M | $56.7M |
| Operating Margin | 38.2% | 36.9% | 37.7% | 43.3% | 41.1% | 36.7% | 39.1% | 22.9% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $294.8M | $272.1M | $245.2M | $268.2M | $228.2M | $163.5M | $169.9M | $64.3M |
| Income Tax Expense | $52.7M | $50.0M | $42.2M | $58.2M | $44.0M | $30.2M | $31.6M | $5.5M |
| Net Income | $242.1M | $222.1M | $203.0M | $210.1M | $184.2M | $133.4M | $138.3M | $58.8M |
| Net Margin | 37.2% | 34.3% | 35.2% | 34.1% | 33.3% | 31.1% | 34.1% | 23.8% |
| EPS (Basic) | $5.09 | $4.66 | $4.25 | $4.41 | $3.87 | $2.80 | $2.92 | $1.24 |
| EPS (Diluted) | $5.08 | $4.65 | $4.24 | $4.40 | $3.87 | $2.80 | $2.92 | $1.24 |
| Shares Outstanding (Basic) | 47.5M | 47.5M | 47.6M | 47.4M | 47.3M | 47.2M | 47.0M | 46.8M |
| Shares Outstanding (Diluted) | 47.7M | 47.7M | 47.6M | 47.5M | 47.4M | 47.2M | 47.0M | 46.9M |
| Dividends Per Share | $1.80 | $1.60 | $1.40 | $1.20 | $0.80 | $0.60 | $0.40 | $0.24 |