Universal Display Corporation (OLED) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 108.88M | 31.15M | 97.18M | 51.94M | 30.56M | 34.71M | 79.86M | 67.01M | 72.16M | 37.07M | 60.31M | 9.78M | 47.62M | 2.64M | 38.04M | 33.52M | 52.61M | 56.78M | 75.21M | 29.62M |
| Operating CF Margin % | 76.56% | 18.01% | 69.61% | 30.23% | 18.38% | 21.39% | 49.41% | 42.28% | 43.66% | 23.41% | 42.75% | 6.67% | 36.5% | 1.56% | 23.7% | 24.55% | 34.96% | 38.82% | 52.37% | 22.84% |
| Operating CF Growth % | 256.25% | -10.27% | 21.69% | -22.5% | -57.64% | -6.36% | 32.41% | 585.41% | 51.52% | 1303.63% | 58.52% | -70.83% | -9.48% | -95.35% | -49.42% | 13.17% | 78.36% | -22.18% | 71.72% | 12.69% |
| Net Income | 35.9M | 66.31M | 44.02M | 67.26M | 64.44M | 46.34M | 66.87M | 52.22M | 56.65M | 61.98M | 51.52M | 49.68M | 39.84M | 65.13M | 53.45M | 41.5M | 49.97M | 45.88M | 46.11M | 40.54M |
| Depreciation & Amortization | 13.15M | 12.01M | 12.08M | 11.4M | 11.09M | 11M | 10.95M | 11.05M | 11.16M | 11.83M | 11.48M | 10.71M | 9.39M | 9.73M | 10.02M | 11.4M | 11.13M | 11M | 10.75M | 10.46M |
| Stock-Based Compensation | 7.55M | 0 | 6.47M | 9.34M | 7.08M | 6.22M | 5.29M | 9.35M | 9.17M | 5.49M | 7.3M | 6.91M | 4.42M | 6.3M | 8.59M | 8.54M | 6.51M | 12.38M | 8.57M | 9.8M |
| Deferred Taxes | 3K | -2.01M | 5.57M | -1.5M | -3.09M | -6.24M | -5.48M | -3.47M | -3.94M | -11.32M | 20.34M | -6.85M | -5.94M | -19.07M | -5.59M | -902K | -1.38M | -2.48M | 2.77M | 943K |
| Other Non-Cash Items | 1.61M | 5.23M | -3.71M | -601K | -1.05M | 6.13M | -1.23M | -1.41M | -1.91M | -1.39M | -1.64M | -2.63M | -2.81M | 204.41M | -75.81M | 603K | -62.93M | -56.27M | -51.67M | -50.72M |
| Working Capital Changes | 50.66M | -50.39M | 32.75M | -33.97M | -47.91M | -28.74M | 3.46M | -824K | 807K | -29.52M | -28.68M | -48.03M | 2.73M | -263.86M | 47.39M | -27.63M | 49.31M | 46.28M | 58.69M | 18.6M |
| Change in Receivables | 26.32M | -45.74M | 72.83M | -7.48M | -25.91M | -25.95M | 36.69M | -4.8M | 20.27M | -17.66M | -12.8M | -16.71M | -13K | -14.47M | -3.26M | 30.01M | 2.69M | -11.4M | 3.39M | -8.3M |
| Change in Inventory | -7.3M | -28.29M | -4.42M | -10.8M | -14.46M | -6.98M | -4.12M | 1.06M | 2.89M | 5.61M | -5.55M | -1.61M | 8.97M | -658K | -16.24M | -22.39M | -9.16M | -14.17M | -17.77M | -3.68M |
| Change in Payables | -15.36M | 1.81M | -4.33M | 18.04M | 0 | 0 | -2.96M | 20.34M | -7.98M | 88.63M | -37.88M | -22.59M | -24.12M | 10.46M | 14.34M | -2.87M | -4.26M | 1.9M | 5.86M | -9.23M |
| Cash from Investing | 9.87M | 39.5M | -50.49M | -92.66M | 58.17M | 2.73M | -73.67M | -29.29M | -64.18M | -7.92M | -57.89M | -58.15M | 40.67M | -82.97M | -50.04M | -162.3M | 14.56M | -270.76M | -71.98M | -200.56M |
| Capital Expenditures | -8.61M | -26.09M | -12.85M | -14.48M | -13.06M | -12.68M | -13.63M | -9.13M | -7.21M | -7.58M | -25.43M | -84.19M | -9.15M | -11.33M | -14.53M | -10.59M | -10.76M | -13.66M | -8.83M | -10.83M |
| CapEx % of Revenue | 6.05% | 15.09% | 9.2% | 8.43% | 7.85% | 7.81% | 8.43% | 5.76% | 4.36% | 4.79% | 18.03% | 57.44% | 7.01% | 6.7% | 9.05% | 7.75% | 7.15% | 9.34% | 6.15% | 8.35% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -66.56M | 500K | 66.01M | 51K | -52K | 40.25M | 0 | 12K | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -40M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 66.56M | -500K | -66.01M | -51K | 52K | -40.25M | 0 | -12K | 0 | 0 | 0 |
| Cash from Financing | -97.75M | -53.91M | -20.89M | -20.95M | -30.24M | -18.02M | -19.48M | -18.88M | -25.95M | -16.48M | -16.57M | -16.45M | -23.43M | -13.99M | -14.15M | -14.75M | -21.74M | -9.18M | -10.99M | -12.43M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | -66.54M | -32.48M | 543K | 495K | 579K | 444K | 589K | 548K | 639K | 480K | 561K | 453K | 518K | 323K | 400K | 444K | 403K | 371K | 349K | 439K |
| Dividends Paid | -23.47M | -21.33M | -21.4M | -21.4M | -21.42M | -18.33M | -19.15M | -19.16M | -19.53M | -16.65M | -16.66M | -16.65M | -16.77M | -14.26M | -14.25M | -14.25M | -14.25M | -9.48M | -9.48M | -9.48M |
| Share Repurchases | -67.12M | -32.88M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -7.74M | -101K | -28K | -44K | -9.4M | -135K | -922K | -271K | -7.06M | -311K | -466K | -248K | -7.18M | -59K | -306K | -948K | -7.9M | -69K | -1.86M | -3.38M |
| Net Change in Cash | 21M | 16.74M | 25.8M | -61.67M | 58.49M | 19.42M | -13.3M | 18.84M | -17.97M | 12.66M | -14.15M | -64.82M | 64.86M | -94.32M | -26.15M | -143.53M | 45.43M | -223.16M | -7.76M | -183.37M |
| Free Cash Flow | 100.27M | 15.06M | 84.34M | 37.46M | 17.5M | 22.04M | 66.23M | 57.88M | 64.95M | 29.49M | 34.88M | -74.41M | 38.47M | -8.69M | 23.51M | 22.94M | 41.84M | 43.11M | 66.38M | 18.79M |
| FCF Margin % | 70.51% | 8.71% | 60.41% | 21.8% | 10.53% | 13.58% | 40.98% | 36.52% | 39.3% | 18.62% | 24.72% | -50.77% | 29.49% | -5.14% | 14.64% | 16.8% | 27.81% | 29.48% | 46.22% | 14.49% |
| FCF Growth % | 472.88% | -31.65% | 27.33% | -35.29% | -73.05% | -25.27% | 89.91% | 177.79% | 68.82% | 439.5% | 48.33% | -424.41% | -8.06% | -120.14% | -64.58% | 22.04% | 117.26% | -32.79% | 82.43% | -2.3% |
| FCF per Share | 2.12 | 0.32 | 1.77 | 0.79 | 0.37 | 0.46 | 1.39 | 1.22 | 1.36 | 0.62 | 0.73 | -1.56 | 0.81 | -0.18 | 0.50 | 0.48 | 0.88 | 0.91 | 1.40 | 0.40 |
| FCF Conversion (FCF/Net Income) | 3.03x | 0.47x | 2.21x | 0.77x | 0.47x | 0.76x | 1.19x | 1.28x | 1.27x | 0.60x | 1.17x | 0.20x | 1.20x | 0.04x | 0.72x | 0.81x | 1.06x | 1.24x | 1.64x | 0.74x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 43.35M | 2.27M | 11.2M | 13.51M | 42.18M | 5.08M | 15.04M | 21.28M | 54.89M | 4.96M | 0 | 16.28M | 0 | 0 | 0 | 0 | 0 |