Universal Display (OLED)
Debt-to-capital ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 54 | 54 | 54 | 54 | 54 | 1,222 | 1,150 | 1,089 | 1,023 | — | — | — | 192 | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,447,230 | 1,382,370 | 1,338,770 | 1,299,460 | 1,275,370 | 1,211,820 | 1,165,310 | 1,131,300 | 1,099,910 | 1,036,320 | 991,616 | 952,468 | 912,714 | 879,636 | 839,770 | 846,697 | 811,449 | 786,567 | 751,033 | 716,201 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $54K ÷ ($54K + $1,447,230K)
= 0.00
Based on the data provided, Universal Display Corp. has consistently maintained a debt-to-capital ratio of 0.00 for the past eight quarters. This indicates that the company has been operating with no debt relative to its capital structure during this period. A debt-to-capital ratio of 0.00 suggests that the company relies entirely on equity financing rather than debt to fund its operations and investments.
While a zero debt-to-capital ratio may signal financial strength and stability, it is essential to note that having no debt can also limit opportunities for leveraging capital and tax benefits associated with debt financing. Investors and stakeholders may view a zero debt-to-capital ratio positively as it signifies lower financial risk and potential for greater financial flexibility. However, it's important to consider the impact of this conservative approach on the company's ability to optimize its capital structure for growth and capitalizing on strategic opportunities.
Peer comparison
Dec 31, 2023