Universal Display (OLED)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 98,980 | 79,559 | 92,856 | 74,012 | 91,985 | 79,323 | 93,470 | 158,294 | 93,430 | 187,750 | 213,896 | 357,424 | 311,993 | 535,157 | 542,914 | 726,279 | 630,012 | 162,620 | 133,566 | 222,744 |
| Short-term investments | US$ in thousands | 393,690 | 471,993 | 437,667 | 465,293 | 422,137 | 412,350 | 465,679 | 487,812 | 484,345 | 501,051 | 439,449 | 325,055 | 351,194 | 253,786 | 190,540 | 720 | 99,996 | 510,048 | 510,455 | 417,032 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 125,410 | 131,165 | 151,999 | 94,979 | 118,822 | 131,343 | 80,732 | 114,957 | 135,697 | 138,199 | 155,213 | 178,254 | 187,938 | 180,261 | 162,563 | 166,332 | 164,960 | 182,760 | 162,695 | 136,554 |
| Quick ratio | 3.93 | 4.21 | 3.49 | 5.68 | 4.33 | 3.74 | 6.93 | 5.62 | 4.26 | 4.98 | 4.21 | 3.83 | 3.53 | 4.38 | 4.51 | 4.37 | 4.43 | 3.68 | 3.96 | 4.69 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($98,980K
+ $393,690K
+ $—K)
÷ $125,410K
= 3.93
The quick ratio of Universal Display, reflecting the company's ability to meet its short-term obligations with its most liquid assets, has exhibited fluctuations over the analyzed period. The quick ratio ranged between 3.49 and 6.93, with the highest value recorded on June 30, 2023, indicating a strong ability to cover current liabilities with highly liquid assets. However, the quick ratio decreased significantly by September 30, 2023, to 3.74, suggesting a potential strain on liquidity at that point in time.
Following this dip, the quick ratio improved in the subsequent quarters, reaching 5.68 on March 31, 2024, signaling an enhanced capacity to meet short-term obligations with liquid assets. Notably, the quick ratio declined to 3.49 on June 30, 2024, before recovering to 4.21 by September 30, 2024. The latest reported quick ratio as of December 31, 2024, stood at 3.93, showing a moderate liquidity position.
Overall, the fluctuations in Universal Display's quick ratio reflect variations in the company's liquidity position throughout the analyzed period, with some quarters demonstrating stronger liquidity coverage than others. Further analysis and monitoring of the quick ratio will be crucial to assess the company's short-term liquidity management.
Peer comparison
Dec 31, 2024