Universal Display vs SiTime
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The short version
- Universal Display is the larger business, with $651M of revenue in fiscal 2025 against $327M for SiTime, about 2.0 times as much.
- SiTime grew revenue faster (61.2%, against 0.5%).
- Universal Display kept more of each dollar of sales as operating profit (38.2% operating margin, against −20.5%).
- Universal Display turned more of its sales into free cash flow (23.7% FCF margin, against 10.8%).
- Universal Display earned a higher return on the capital invested in it (17.9%, against −16.8%).
| Latest fiscal year | OLED · FY25 | SITM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.1B | $12.7B |
| Revenue | $651M | $327M |
| Free cash flow | $154M | $35.1M |
| Net income | $242M | −$42.9M |
| Growth | ||
| Revenue growth | 0.5% | 61.2% |
| 5-year growth | 8.7% | 23.0% |
| Share count change | 0.0% | 8.0% |
| Profitability | ||
| Gross margin | 76.3% | 53.6% |
| Operating margin | 38.2% | −20.5% |
| Net margin | 37.2% | −13.1% |
| FCF margin | 23.7% | 10.8% |
| Return on capital | 17.9% | −16.8% |
| Return on equity | 14.3% | −4.6% |
| Balance sheet | ||
| Net debt | −$602M | −$808M |
| Net debt / EBITDA | −2.0x | — |
| Dividends and buybacks | $118M | $0.0M |
| Valuation & quality | ||
| P/E | 21.0x | — |
| Piotroski F-score | 3 | 6 |
Revenue
FY16
OLED $199M
SITM —
FY17
OLED $336M
SITM —
FY18
OLED $247M
SITM $85.2M
FY19
OLED $405M
SITM $84.1M
FY20
OLED $429M
SITM $116M
FY21
OLED $554M
SITM $219M
FY22
OLED $617M
SITM $284M
FY23
OLED $576M
SITM $144M
FY24
OLED $648M
SITM $203M
FY25
OLED $651M
SITM $327M
OLED
SITM
Operating margin
FY16
OLED 34.4%
SITM —
FY17
OLED 43.6%
SITM —
FY18
OLED 22.9%
SITM −9.1%
FY19
OLED 39.1%
SITM −5.8%
FY20
OLED 36.7%
SITM −7.4%
FY21
OLED 41.1%
SITM 15.0%
FY22
OLED 43.3%
SITM 5.7%
FY23
OLED 37.7%
SITM −74.5%
FY24
OLED 36.9%
SITM −56.9%
FY25
OLED 38.2%
SITM −20.5%
OLED
SITM
Free cash flow
FY16
OLED $73.0M
SITM —
FY17
OLED $104M
SITM —
FY18
OLED $96.4M
SITM −$3.4M
FY19
OLED $164M
SITM $6.0M
FY20
OLED $121M
SITM $10.5M
FY21
OLED $148M
SITM $28.2M
FY22
OLED $84.3M
SITM $8.0M
FY23
OLED $95.0M
SITM −$0.9M
FY24
OLED $211M
SITM −$13.0M
FY25
OLED $154M
SITM $35.1M
OLED
SITM
Return on capital
FY16
OLED 35.3%
SITM —
FY17
OLED 46.3%
SITM —
FY18
OLED 25.1%
SITM —
FY19
OLED 75.7%
SITM −8.7%
FY20
OLED 73.8%
SITM −17.9%
FY21
OLED 59.3%
SITM 59.9%
FY22
OLED 36.9%
SITM 14.8%
FY23
OLED 22.1%
SITM −52.2%
FY24
OLED 19.0%
SITM −39.5%
FY25
OLED 17.9%
SITM −16.8%
OLED
SITM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.