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Universal Display (OLED) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Universal Display (OLED) Q3 2026 earnings results →
Q3 2026 Revenue up 15% year over year to $160M · 49¢ of every $1 of revenue kept as net profit · operating margin 33.5%
Universal Display made $160M in Q3 2026 (+15% Y/Y): Material Sales $79.7M, Royalty and License Fees $75.5M, Contract Research Services $5.2M. Operating margin 33.5%, net earnings $78.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $160.4M in Q3 2026, up 15% year over year and up 5% from the previous quarter. Material Sales was the largest line at 50% of revenue. Royalty and License Fees added $22.2M year over year (up 42%), 107% of the total change. Material Sales declined 4%.
Gross margin was 73.1%, down 1.4 points from Q3 2025. Operating profit was $53.7M, a 33.5% margin (up 2.6 points year over year). Of the extra revenue versus Q3 2025, 51% reached operating profit, above the 31% margin then. Operating expenses grew 4% against revenue growth of 15%. The fastest-growing cost line was SG&A (+16%). Net earnings were $78.9M, up 79% year over year. The effective tax rate was 20.4%. Non-operating items added $45.5M, 46% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $100.2M (up 3% year over year), 127% of net earnings. Non-cash charges added back $11.3M of depreciation and amortization and $6.4M of share-based compensation. Capital expenditures of $4.3M left free cash flow of $95.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $160M | +15% | 33.5% | $78.9M | $100M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $152M | -11% | 35.3% | $49.4M | $25.0M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $142M | -14% | 30.1% | $35.9M | $109M |
| Q4 2025 | 10-K | Feb 19, 2026 | $173M | +7% | 38.9% | $66.3M | $31.1M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $140M | -14% | 30.9% | $44.0M | $97.2M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $172M | +8% | 39.9% | $67.3M | $51.9M |
| Q1 2025 | 10-Q | May 1, 2025 | $166M | +0.6% | 41.9% | $64.4M | $30.6M |
Charts
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Customers and suppliers named in filings
Sells to
- LPL — 10% of its revenue · Stated in 10-K (sentence) · source
About Universal Display
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 7,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance.
In its own words, from its 8-K, filed Jul 30, 2026.
Universal Display against its Electronic Components & Accessories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +15%. Operating margin: 33.5% against the peers' median 9.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OLED Universal Display | Q3 2026 | $160M | +15% | 33.5% |
| HUBB Hubbell | Q3 2026 | $1.9B | +25% | 21.8% |
| VSH Vishay Intertechnology | Q3 2026 | $979M | +24% | 9.4% |
| MRCY Mercury Systems | Q4 FY26 | $290M | +6% | 5.0% |
| VPG Vishay Precision Group | Q3 2026 | $85.1M | +7% | 3.2% |
| KULR Kulr Technology Group | Q2 2026 | $2.1M | -43% | -538.6% |
Source: Universal Display 10-Q on SEC EDGAR · CIK 1005284 · Electronic Components & Accessories
Guidance and outlook
13F: who owns OLED and who is buying
More on OLED
- How Universal Display makes money: revenue by segment
- Universal Display next earnings date and what analysts expect
- Universal Display stock forecast, price target and fair value
- Who owns Universal Display stock: holders, funds and Congress trades
- Universal Display guidance and outlook
- Is Universal Display a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Universal Display guidance history: guided vs reported
- Universal Display gross margin by quarter
- Universal Display operating margin by quarter
- Universal Display net income by quarter
- Universal Display free cash flow by quarter
- Universal Display R&D spending by quarter
- Universal Display capital expenditures by quarter
- Universal Display Material Sales revenue by quarter
- Universal Display Royalty and License Fees revenue by quarter
- Universal Display Contract Research Services revenue by quarter