Universal Display Valuation

Is UVD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of UVD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UVD (€154.35) is trading below our estimate of fair value (€185.45)

Significantly Below Fair Value: UVD is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UVD?

Key metric: As UVD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for UVD. This is calculated by dividing UVD's market cap by their current earnings.
What is UVD's PE Ratio?
PE Ratio	31.8x
Earnings	US$237.30m
Market Cap	US$7.73b

UVD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	11.2x
Enterprise Value/EBITDA	24.3x
PEG Ratio	2.2x

Price to Earnings Ratio vs Peers

How does UVD's PE Ratio compare to its peers?

The above table shows the PE ratio for UVD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	16.5x
IFX Infineon Technologies	24.4x	17.1%	€42.7b
ELG Elmos Semiconductor	11.3x	4.1%	€1.2b
WAF Siltronic	15.8x	-22.3%	€1.5b
AIXA AIXTRON	14.6x	3.5%	€1.7b
UVD Universal Display	31.8x	14.3%	€7.7b

Price-To-Earnings vs Peers: UVD is expensive based on its Price-To-Earnings Ratio (31.8x) compared to the peer average (16.5x).

Price to Earnings Ratio vs Industry

How does UVD's PE Ratio compare vs other companies in the European Semiconductor Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: UVD is expensive based on its Price-To-Earnings Ratio (31.8x) compared to the European Semiconductor industry average (18.6x).

Price to Earnings Ratio vs Fair Ratio

What is UVD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

UVD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	31.8x
Fair PE Ratio	18.7x

Price-To-Earnings vs Fair Ratio: UVD is expensive based on its Price-To-Earnings Ratio (31.8x) compared to the estimated Fair Price-To-Earnings Ratio (18.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst UVD forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€154.35	€204.61 +32.6%	12.2%	€246.69	€156.55	n/a	11
Dec ’25	€152.00	€204.61 +34.6%	12.2%	€246.69	€156.55	n/a	11
Nov ’25	€166.35	€201.90 +21.4%	11.1%	€239.04	€151.70	n/a	10
Oct ’25	€186.85	€206.54 +10.5%	10.5%	€234.49	€157.83	n/a	10
Sep ’25	€170.85	€204.61 +19.8%	10.5%	€232.31	€156.36	n/a	10
Aug ’25	€204.30	€201.50 -1.4%	14.5%	€237.74	€155.45	n/a	11
Jul ’25	€193.75	€194.68 +0.5%	13.7%	€242.61	€158.63	n/a	11
Jun ’25	€160.70	€185.86 +15.7%	12.7%	€241.51	€156.06	n/a	11
May ’25	€150.65	€186.18 +23.6%	12.2%	€242.94	€156.98	n/a	12
Apr ’25	€154.40	€186.49 +20.8%	11.6%	€239.93	€156.88	n/a	11
Mar ’25	€162.40	€185.16 +14.0%	12.0%	€239.62	€156.67	n/a	11
Feb ’25	€157.00	€178.35 +13.6%	12.7%	€229.73	€151.62	n/a	11
Jan ’25	€173.60	€166.67 -4.0%	15.7%	€229.00	€136.03	n/a	12
Dec ’24	€154.20	€156.04 +1.2%	6.8%	€172.53	€138.49	€152.00	11
Nov ’24	€131.00	€164.03 +25.2%	8.2%	€185.49	€140.54	€166.35	11
Oct ’24	€147.00	€162.40 +10.5%	8.0%	€182.36	€139.56	€186.85	11
Sep ’24	€149.40	€160.43 +7.4%	7.9%	€178.83	€136.86	€170.85	12
Aug ’24	€131.40	€146.95 +11.8%	11.0%	€173.24	€123.09	€204.30	12
Jul ’24	€129.80	€142.96 +10.1%	13.9%	€172.50	€103.05	€193.75	12
Jun ’24	€137.00	€142.96 +4.3%	13.9%	€172.50	€103.05	€160.70	12
May ’24	€120.00	€143.22 +19.3%	14.1%	€174.10	€103.46	€150.65	12
Apr ’24	€142.75	€143.32 +0.4%	13.6%	€176.08	€104.64	€154.40	12
Mar ’24	€127.70	€144.04 +12.8%	11.9%	€181.05	€107.59	€162.40	12
Feb ’24	€120.90	€131.41 +8.7%	15.4%	€176.29	€104.76	€157.00	12
Jan ’24	€100.30	€128.93 +28.5%	20.2%	€179.75	€77.17	€173.60	11
Dec ’23	€107.00	€134.63 +25.8%	20.0%	€186.45	€80.05	€154.20	11

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.