We’ve recently updated our valuation analysis.

Universal Display Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

OLED 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/Revenue7.6x
Enterprise Value/EBITDA15.9x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for OLED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average27.1x
MTSI MACOM Technology Solutions Holdings
11x-59.2%US$4.8b
TSEM Tower Semiconductor
20.7x4.6%US$4.8b
CRUS Cirrus Logic
11.4x3.7%US$4.1b
SLAB Silicon Laboratories
65.5x-24.8%US$4.7b
OLED Universal Display
27.3x17.4%US$5.2b

Price-To-Earnings vs Peers: OLED is expensive based on its Price-To-Earnings Ratio (27.3x) compared to the peer average (27.3x).


Price to Earnings Ratio vs Industry

How does OLED's PE Ratio compare vs other companies in the US Semiconductor Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a13.5%
n/an/an/a

Price-To-Earnings vs Industry: OLED is expensive based on its Price-To-Earnings Ratio (27.3x) compared to the US Semiconductor industry average (17.5x)


Price to Earnings Ratio vs Fair Ratio

What is OLED'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.

OLED PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.9x
Fair PE Ratio21.7x

Price-To-Earnings vs Fair Ratio: OLED is expensive based on its Price-To-Earnings Ratio (27.3x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).


Share Price vs Fair Value

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

Below Fair Value: OLED ($109.71) is trading below our estimate of fair value ($183.22)

Significantly Below Fair Value: OLED is trading below fair value by more than 20%.


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 OLED forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$107.86
US$137.91
+27.9%
20.0%US$191.00US$82.00n/a11
Nov ’23US$96.97
US$149.09
+53.7%
17.9%US$197.00US$95.00n/a11
Oct ’23US$94.35
US$151.00
+60.0%
18.6%US$208.00US$95.00n/a11
Sep ’23US$108.91
US$148.42
+36.3%
19.8%US$208.00US$95.00n/a12
Aug ’23US$115.86
US$159.83
+38.0%
23.7%US$238.00US$105.00n/a12
Jul ’23US$102.22
US$176.33
+72.5%
26.0%US$253.00US$105.00n/a12
Jun ’23US$125.80
US$180.92
+43.8%
24.5%US$253.00US$105.00n/a12
May ’23US$127.73
US$187.00
+46.4%
24.4%US$253.00US$110.00n/a12
Apr ’23US$167.39
US$188.67
+12.7%
24.0%US$253.00US$110.00n/a12
Mar ’23US$154.22
US$194.92
+26.4%
19.9%US$253.00US$110.00n/a12
Feb ’23US$153.01
US$220.33
+44.0%
17.3%US$253.00US$115.00n/a12
Jan ’23US$165.03
US$220.33
+33.5%
17.3%US$253.00US$115.00n/a12
Dec ’22US$141.62
US$224.50
+58.5%
16.6%US$253.00US$115.00n/a12
Nov ’22US$187.37
US$243.42
+29.9%
16.7%US$285.00US$135.00US$96.9712
Oct ’22US$171.87
US$251.00
+46.0%
17.7%US$285.00US$135.00US$94.3511
Sep ’22US$208.86
US$251.00
+20.2%
17.7%US$285.00US$135.00US$108.9111
Aug ’22US$234.49
US$249.82
+6.5%
17.6%US$285.00US$135.00US$115.8611
Jul ’22US$219.07
US$248.91
+13.6%
17.4%US$285.00US$135.00US$102.2211
Jun ’22US$214.43
US$248.91
+16.1%
17.4%US$285.00US$135.00US$125.8011
May ’22US$223.69
US$245.18
+9.6%
18.5%US$285.00US$130.00US$127.7311
Apr ’22US$238.14
US$242.18
+1.7%
19.8%US$285.00US$130.00US$167.3911
Mar ’22US$219.53
US$240.36
+9.5%
20.0%US$285.00US$130.00US$154.2211
Feb ’22US$237.48
US$224.27
-5.6%
20.5%US$285.00US$120.00US$153.0111
Jan ’22US$229.80
US$213.73
-7.0%
18.7%US$275.00US$120.00US$165.0311
Dec ’21US$230.76
US$208.64
-9.6%
17.0%US$250.00US$120.00US$141.6211
Nov ’21US$198.31
US$205.18
+3.5%
18.7%US$250.00US$120.00US$187.3711

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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