Universal Display (OLED)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 0.90 | 0.92 | 0.91 | 0.84 | 0.77 | 0.71 | 0.75 | 0.73 | 0.70 | 0.72 | 0.75 | 0.87 | 0.86 | 0.90 | 0.97 | 0.85 | 0.93 | 0.91 | 0.84 | 1.11 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 0.84 | 0.79 | 0.77 | 0.74 | 0.72 | 0.79 | 0.76 | 0.71 | 0.81 | 0.71 | 0.74 | 0.73 | 0.75 | 0.63 | 0.63 | 0.57 | 0.56 | 0.55 | 0.55 | 0.64 |
The inventory turnover ratio for Universal Display indicates the number of times the company sells and replaces its inventory in a given period. The trend shows a slight fluctuation but remains relatively stable, ranging from 0.70 to 0.92 over the past few years. This suggests that the company has been effective in managing its inventory levels efficiently.
On the other hand, the receivables turnover and payables turnover ratios are not available, indicating that this information is not disclosed or not applicable for analysis. Without this data, it is challenging to assess the efficiency of Universal Display in collecting receivables or managing payables.
The working capital turnover ratio measures how efficiently a company utilizes its working capital to generate revenue. Universal Display's working capital turnover has been on an upward trend, increasing from 0.55 to 0.84 over the analyzed period. This suggests that the company has been improving its ability to use its working capital effectively to generate sales.
In conclusion, the inventory turnover and working capital turnover ratios provide valuable insights into Universal Display's operational efficiency and financial performance, although the lack of data on receivables and payables turnover limits a comprehensive assessment of the company's overall working capital management.
Average number of days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 407.06 | 394.73 | 400.95 | 433.53 | 473.98 | 511.48 | 484.05 | 498.03 | 522.89 | 505.77 | 487.06 | 418.74 | 425.85 | 404.04 | 375.81 | 428.87 | 391.10 | 400.30 | 437.04 | 329.62 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Universal Display's Days of Inventory on Hand (DOH) has shown fluctuations over the years, ranging from 329.62 days to 522.89 days. The trend indicates variability in managing inventory levels, with a peak at 522.89 days on December 31, 2022. This suggests potential inefficiencies in inventory control that may impact cash flow and working capital.
On the other hand, there is no data available for Days of Sales Outstanding (DSO) and Number of Days of Payables for the periods provided. The absence of information on DSO and payables turnover hinders a comprehensive analysis of Universal Display's efficiency in collecting receivables and managing payables.
In conclusion, while the analysis of Days of Inventory on Hand provides insights into inventory management practices, the lack of data on DSO and payables turnover limits a holistic evaluation of Universal Display's activity ratios. It would be beneficial for the company to disclose more information on these metrics to facilitate a more thorough analysis of its working capital management and operational efficiency.
Long-term
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | — | 3.85 | 4.11 | 4.30 | 4.31 | 4.18 | 4.32 | 4.30 | 4.61 | 4.02 | 4.18 | 4.20 | 4.02 | 4.02 | 4.86 |
| Total asset turnover | 0.35 | 0.36 | 0.35 | 0.36 | 0.35 | 0.36 | 0.39 | 0.39 | 0.40 | 0.39 | 0.38 | 0.38 | 0.38 | 0.38 | 0.39 | 0.34 | 0.34 | 0.32 | 0.32 | 0.38 |
Based on the provided data, the fixed asset turnover ratio for Universal Display has remained relatively stable over the past few years, fluctuating mainly between 4.0 and 4.6. This indicates a consistent level of efficiency in generating sales revenue from fixed assets during this period.
In terms of total asset turnover, the company's performance shows a slight increase from 0.32 to 0.40 over the years, reflecting an improvement in the efficiency of utilizing all assets to generate sales. This suggests that Universal Display has been able to optimize its asset utilization to drive revenue growth.
Overall, the stability of the fixed asset turnover ratio and the increasing trend in total asset turnover indicate that Universal Display has been managing its assets effectively to generate sales revenue, which is a positive sign for the company's long-term operational efficiency.