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Side-by-side financial comparison of UNIVERSAL DISPLAY CORP \PA\ (OLED) and Safehold Inc. (SAFE). 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 $97.9M, roughly 1.5× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 25.2%, a 3.2% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs -14.5%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% CAGR vs -5.3%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
OLED vs SAFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $142.2M | $97.9M |
| Net Profit | $35.9M | $27.9M |
| Gross Margin | 74.6% | 98.6% |
| Operating Margin | 30.1% | 27.4% |
| Net Margin | 25.2% | 28.5% |
| Revenue YoY | -14.5% | 6.5% |
| Net Profit YoY | -44.3% | 7.1% |
| EPS (diluted) | $0.76 | $0.38 |
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 | $172.9M | $97.9M | ||
| Q3 25 | $139.6M | $96.2M | ||
| Q2 25 | $171.8M | $93.8M | ||
| Q1 25 | $166.3M | $97.7M | ||
| Q4 24 | $162.3M | $91.9M | ||
| Q3 24 | $161.6M | $90.7M | ||
| Q2 24 | $158.5M | $89.9M |
| Q1 26 | $35.9M | — | ||
| Q4 25 | $66.3M | $27.9M | ||
| Q3 25 | $44.0M | $29.3M | ||
| Q2 25 | $67.3M | $27.9M | ||
| Q1 25 | $64.4M | $29.4M | ||
| Q4 24 | $46.0M | $26.0M | ||
| Q3 24 | $66.9M | $19.3M | ||
| Q2 24 | $52.3M | $29.7M |
| Q1 26 | 74.6% | — | ||
| Q4 25 | 76.1% | 98.6% | ||
| Q3 25 | 74.6% | 98.5% | ||
| Q2 25 | 77.2% | 99.1% | ||
| Q1 25 | 77.1% | 98.8% | ||
| Q4 24 | 77.0% | 98.8% | ||
| Q3 24 | 77.8% | 98.8% | ||
| Q2 24 | 75.8% | 98.8% |
| Q1 26 | 30.1% | — | ||
| Q4 25 | 38.9% | 27.4% | ||
| Q3 25 | 30.9% | 25.9% | ||
| Q2 25 | 39.9% | 25.5% | ||
| Q1 25 | 41.9% | 25.9% | ||
| Q4 24 | 32.3% | 24.6% | ||
| Q3 24 | 41.5% | 17.5% | ||
| Q2 24 | 35.6% | 26.7% |
| Q1 26 | 25.2% | — | ||
| Q4 25 | 38.4% | 28.5% | ||
| Q3 25 | 31.5% | 30.5% | ||
| Q2 25 | 39.2% | 29.8% | ||
| Q1 25 | 38.8% | 30.1% | ||
| Q4 24 | 28.4% | 28.3% | ||
| Q3 24 | 41.4% | 21.3% | ||
| Q2 24 | 33.0% | 33.0% |
| Q1 26 | $0.76 | — | ||
| Q4 25 | $1.40 | $0.38 | ||
| Q3 25 | $0.92 | $0.41 | ||
| Q2 25 | $1.41 | $0.39 | ||
| Q1 25 | $1.35 | $0.41 | ||
| Q4 24 | $0.96 | $0.36 | ||
| Q3 24 | $1.40 | $0.27 | ||
| Q2 24 | $1.10 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.4M | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | — | $2.4B |
| Total Assets | $1.9B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $516.4M | — | ||
| Q4 25 | $602.4M | $21.7M | ||
| Q3 25 | $603.0M | $12.1M | ||
| Q2 25 | $525.2M | $13.9M | ||
| Q1 25 | $571.3M | $17.3M | ||
| Q4 24 | $492.7M | $8.3M | ||
| Q3 24 | $551.6M | $15.6M | ||
| Q2 24 | $530.5M | $13.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.7B | $2.4B | ||
| Q1 25 | $1.7B | $2.4B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.5B | $2.3B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.0B | $7.2B | ||
| Q3 25 | $1.9B | $7.1B | ||
| Q2 25 | $1.9B | $7.1B | ||
| Q1 25 | $1.9B | $6.9B | ||
| Q4 24 | $1.8B | $6.9B | ||
| Q3 24 | $1.8B | $6.8B | ||
| Q2 24 | $1.8B | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× |
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 | $108.9M | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.03× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $108.9M | — | ||
| Q4 25 | $31.1M | $47.8M | ||
| Q3 25 | $97.2M | $-1.4M | ||
| Q2 25 | $51.9M | $28.0M | ||
| Q1 25 | $30.6M | $8.9M | ||
| Q4 24 | $34.7M | $37.9M | ||
| Q3 24 | $79.9M | $8.3M | ||
| Q2 24 | $67.0M | $24.8M |
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | — | ||
| Q3 25 | $84.3M | — | ||
| Q2 25 | $37.5M | — | ||
| Q1 25 | $17.5M | — | ||
| Q4 24 | $22.0M | — | ||
| Q3 24 | $66.2M | — | ||
| Q2 24 | $57.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.7% | — | ||
| Q3 25 | 60.4% | — | ||
| Q2 25 | 21.8% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 36.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.3% | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 5.8% | — |
| Q1 26 | 3.03× | — | ||
| Q4 25 | 0.47× | 1.72× | ||
| Q3 25 | 2.21× | -0.05× | ||
| Q2 25 | 0.77× | 1.00× | ||
| Q1 25 | 0.47× | 0.30× | ||
| Q4 24 | 0.75× | 1.45× | ||
| Q3 24 | 1.19× | 0.43× | ||
| Q2 24 | 1.28× | 0.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
