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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and UNIVERSAL DISPLAY CORP \PA\ (OLED). Click either name above to swap in a different company.
UNIVERSAL DISPLAY CORP \PA\ is the larger business by last-quarter revenue ($142.2M vs $85.1M, roughly 1.7× 4D Molecular Therapeutics, Inc.). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 25.2% vs 22.8%, a 2.4% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -14.5%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs -5.3%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.
FDMT vs OLED — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $142.2M |
| Net Profit | $19.4M | $35.9M |
| Gross Margin | — | 74.6% |
| Operating Margin | 17.3% | 30.1% |
| Net Margin | 22.8% | 25.2% |
| Revenue YoY | 8508900.0% | -14.5% |
| Net Profit YoY | 139.1% | -44.3% |
| EPS (diluted) | $0.43 | $0.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $142.2M | ||
| Q4 25 | $85.1M | $172.9M | ||
| Q3 25 | $90.0K | $139.6M | ||
| Q2 25 | $15.0K | $171.8M | ||
| Q1 25 | $14.0K | $166.3M | ||
| Q4 24 | $1.0K | $162.3M | ||
| Q3 24 | $3.0K | $161.6M | ||
| Q2 24 | $5.0K | $158.5M |
| Q1 26 | — | $35.9M | ||
| Q4 25 | $19.4M | $66.3M | ||
| Q3 25 | $-56.9M | $44.0M | ||
| Q2 25 | $-54.7M | $67.3M | ||
| Q1 25 | $-48.0M | $64.4M | ||
| Q4 24 | — | $46.0M | ||
| Q3 24 | $-43.8M | $66.9M | ||
| Q2 24 | $-35.0M | $52.3M |
| Q1 26 | — | 74.6% | ||
| Q4 25 | — | 76.1% | ||
| Q3 25 | — | 74.6% | ||
| Q2 25 | — | 77.2% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 75.8% |
| Q1 26 | — | 30.1% | ||
| Q4 25 | 17.3% | 38.9% | ||
| Q3 25 | -67983.3% | 30.9% | ||
| Q2 25 | -396373.3% | 39.9% | ||
| Q1 25 | -383007.1% | 41.9% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | -1704400.0% | 41.5% | ||
| Q2 24 | -849120.0% | 35.6% |
| Q1 26 | — | 25.2% | ||
| Q4 25 | 22.8% | 38.4% | ||
| Q3 25 | -63195.6% | 31.5% | ||
| Q2 25 | -364386.7% | 39.2% | ||
| Q1 25 | -342657.1% | 38.8% | ||
| Q4 24 | — | 28.4% | ||
| Q3 24 | -1461433.3% | 41.4% | ||
| Q2 24 | -699060.0% | 33.0% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $0.43 | $1.40 | ||
| Q3 25 | $-1.01 | $0.92 | ||
| Q2 25 | $-0.98 | $1.41 | ||
| Q1 25 | $-0.86 | $1.35 | ||
| Q4 24 | — | $0.96 | ||
| Q3 24 | $-0.79 | $1.40 | ||
| Q2 24 | $-0.63 | $1.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $402.7M | $516.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | — |
| Total Assets | $566.7M | $1.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $516.4M | ||
| Q4 25 | $402.7M | $602.4M | ||
| Q3 25 | $305.1M | $603.0M | ||
| Q2 25 | $293.2M | $525.2M | ||
| Q1 25 | $321.4M | $571.3M | ||
| Q4 24 | $424.9M | $492.7M | ||
| Q3 24 | $501.9M | $551.6M | ||
| Q2 24 | $541.9M | $530.5M |
| Q1 26 | — | — | ||
| Q4 25 | $505.7M | $1.8B | ||
| Q3 25 | $369.0M | $1.7B | ||
| Q2 25 | $420.9M | $1.7B | ||
| Q1 25 | $469.7M | $1.7B | ||
| Q4 24 | $510.6M | $1.6B | ||
| Q3 24 | $552.9M | $1.6B | ||
| Q2 24 | $588.3M | $1.5B |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $566.7M | $2.0B | ||
| Q3 25 | $424.0M | $1.9B | ||
| Q2 25 | $473.6M | $1.9B | ||
| Q1 25 | $515.7M | $1.9B | ||
| Q4 24 | $560.4M | $1.8B | ||
| Q3 24 | $604.0M | $1.8B | ||
| Q2 24 | $620.1M | $1.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.6M | $108.9M |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 33.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.47× | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $108.9M | ||
| Q4 25 | $28.6M | $31.1M | ||
| Q3 25 | $-46.5M | $97.2M | ||
| Q2 25 | $-43.4M | $51.9M | ||
| Q1 25 | $-47.8M | $30.6M | ||
| Q4 24 | $-134.6M | $34.7M | ||
| Q3 24 | $-29.4M | $79.9M | ||
| Q2 24 | $-30.2M | $67.0M |
| Q1 26 | — | — | ||
| Q4 25 | $28.5M | $15.1M | ||
| Q3 25 | $-46.6M | $84.3M | ||
| Q2 25 | $-43.4M | $37.5M | ||
| Q1 25 | $-48.4M | $17.5M | ||
| Q4 24 | $-138.4M | $22.0M | ||
| Q3 24 | $-31.2M | $66.2M | ||
| Q2 24 | $-30.6M | $57.9M |
| Q1 26 | — | — | ||
| Q4 25 | 33.5% | 8.7% | ||
| Q3 25 | -51765.6% | 60.4% | ||
| Q2 25 | -289620.0% | 21.8% | ||
| Q1 25 | -345635.7% | 10.5% | ||
| Q4 24 | -13837100.0% | 13.6% | ||
| Q3 24 | -1038966.7% | 41.0% | ||
| Q2 24 | -611840.0% | 36.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 9.3% | ||
| Q3 25 | 101.1% | 9.2% | ||
| Q2 25 | 440.0% | 8.4% | ||
| Q1 25 | 4507.1% | 7.9% | ||
| Q4 24 | 378600.0% | 7.8% | ||
| Q3 24 | 59266.7% | 8.4% | ||
| Q2 24 | 6980.0% | 5.8% |
| Q1 26 | — | 3.03× | ||
| Q4 25 | 1.47× | 0.47× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
