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Side-by-side financial comparison of UNIVERSAL DISPLAY CORP \PA\ (OLED) and Vericel Corp (VCEL). 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 $92.9M, roughly 1.5× Vericel Corp). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 25.2% vs 25.0%, a 0.2% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs -14.5%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
OLED vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $142.2M | $92.9M |
| Net Profit | $35.9M | $23.2M |
| Gross Margin | 74.6% | 78.7% |
| Operating Margin | 30.1% | 24.1% |
| Net Margin | 25.2% | 25.0% |
| Revenue YoY | -14.5% | 23.3% |
| Net Profit YoY | -44.3% | 17.3% |
| EPS (diluted) | $0.76 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $139.6M | $67.5M | ||
| Q2 25 | $171.8M | $63.2M | ||
| Q1 25 | $166.3M | $52.6M | ||
| Q4 24 | $162.3M | $75.4M | ||
| Q3 24 | $161.6M | $57.9M | ||
| Q2 24 | $158.5M | $52.7M |
| Q1 26 | $35.9M | — | ||
| Q4 25 | $66.3M | $23.2M | ||
| Q3 25 | $44.0M | $5.1M | ||
| Q2 25 | $67.3M | $-553.0K | ||
| Q1 25 | $64.4M | $-11.2M | ||
| Q4 24 | $46.0M | $19.8M | ||
| Q3 24 | $66.9M | $-901.0K | ||
| Q2 24 | $52.3M | $-4.7M |
| Q1 26 | 74.6% | — | ||
| Q4 25 | 76.1% | 78.7% | ||
| Q3 25 | 74.6% | 73.5% | ||
| Q2 25 | 77.2% | 73.7% | ||
| Q1 25 | 77.1% | 69.0% | ||
| Q4 24 | 77.0% | 77.6% | ||
| Q3 24 | 77.8% | 71.9% | ||
| Q2 24 | 75.8% | 69.5% |
| Q1 26 | 30.1% | — | ||
| Q4 25 | 38.9% | 24.1% | ||
| Q3 25 | 30.9% | 5.1% | ||
| Q2 25 | 39.9% | -3.2% | ||
| Q1 25 | 41.9% | -24.3% | ||
| Q4 24 | 32.3% | 24.5% | ||
| Q3 24 | 41.5% | -4.3% | ||
| Q2 24 | 35.6% | -11.5% |
| Q1 26 | 25.2% | — | ||
| Q4 25 | 38.4% | 25.0% | ||
| Q3 25 | 31.5% | 7.5% | ||
| Q2 25 | 39.2% | -0.9% | ||
| Q1 25 | 38.8% | -21.4% | ||
| Q4 24 | 28.4% | 26.3% | ||
| Q3 24 | 41.4% | -1.6% | ||
| Q2 24 | 33.0% | -8.9% |
| Q1 26 | $0.76 | — | ||
| Q4 25 | $1.40 | $0.46 | ||
| Q3 25 | $0.92 | $0.10 | ||
| Q2 25 | $1.41 | $-0.01 | ||
| Q1 25 | $1.35 | $-0.23 | ||
| Q4 24 | $0.96 | $0.40 | ||
| Q3 24 | $1.40 | $-0.02 | ||
| Q2 24 | $1.10 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.4M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $354.6M |
| Total Assets | $1.9B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $516.4M | — | ||
| Q4 25 | $602.4M | $137.5M | ||
| Q3 25 | $603.0M | $135.4M | ||
| Q2 25 | $525.2M | $116.9M | ||
| Q1 25 | $571.3M | $112.9M | ||
| Q4 24 | $492.7M | $116.2M | ||
| Q3 24 | $551.6M | $101.7M | ||
| Q2 24 | $530.5M | $102.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $354.6M | ||
| Q3 25 | $1.7B | $321.9M | ||
| Q2 25 | $1.7B | $306.8M | ||
| Q1 25 | $1.7B | $295.5M | ||
| Q4 24 | $1.6B | $292.0M | ||
| Q3 24 | $1.6B | $257.5M | ||
| Q2 24 | $1.5B | $243.0M |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.0B | $488.0M | ||
| Q3 25 | $1.9B | $453.3M | ||
| Q2 25 | $1.9B | $435.6M | ||
| Q1 25 | $1.9B | $424.6M | ||
| Q4 24 | $1.8B | $432.7M | ||
| Q3 24 | $1.8B | $390.4M | ||
| Q2 24 | $1.8B | $376.8M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 3.03× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $108.9M | — | ||
| Q4 25 | $31.1M | $15.0M | ||
| Q3 25 | $97.2M | $22.1M | ||
| Q2 25 | $51.9M | $8.2M | ||
| Q1 25 | $30.6M | $6.6M | ||
| Q4 24 | $34.7M | $22.2M | ||
| Q3 24 | $79.9M | $10.2M | ||
| Q2 24 | $67.0M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $12.8M | ||
| Q3 25 | $84.3M | $19.5M | ||
| Q2 25 | $37.5M | $81.0K | ||
| Q1 25 | $17.5M | $-7.6M | ||
| Q4 24 | $22.0M | $8.5M | ||
| Q3 24 | $66.2M | $-9.2M | ||
| Q2 24 | $57.9M | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | 8.7% | 13.8% | ||
| Q3 25 | 60.4% | 28.8% | ||
| Q2 25 | 21.8% | 0.1% | ||
| Q1 25 | 10.5% | -14.5% | ||
| Q4 24 | 13.6% | 11.2% | ||
| Q3 24 | 41.0% | -15.9% | ||
| Q2 24 | 36.5% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 9.3% | 2.4% | ||
| Q3 25 | 9.2% | 3.9% | ||
| Q2 25 | 8.4% | 12.9% | ||
| Q1 25 | 7.9% | 27.0% | ||
| Q4 24 | 7.8% | 18.3% | ||
| Q3 24 | 8.4% | 33.5% | ||
| Q2 24 | 5.8% | 31.8% |
| Q1 26 | 3.03× | — | ||
| Q4 25 | 0.47× | 0.65× | ||
| Q3 25 | 2.21× | 4.35× | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.75× | 1.12× | ||
| 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
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
