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UNIVERSAL DISPLAY CORP \PA\（OLED）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是UNIVERSAL DISPLAY CORP \PA\的1.6倍（$225.0M vs $142.2M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs -14.5%），过去两年UNIVERSAL DISPLAY CORP \PA\的营收复合增速更高（-5.3% vs -12.3%）
Universal Display Corporation（股票代码OLED）是有机发光二极管（OLED）技术及材料的研发与生产企业，拥有深厚的技术积累，面向显示、照明两大领域提供相关配套服务，是全球OLED上游产业链的核心供应商之一。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
OLED vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.6倍
$142.2M
营收增速更快
ROCK
高出39.4%
-14.5%
两年增速更快
OLED
近两年复合增速
-12.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $142.2M | $225.0M |
| 净利润 | $35.9M | — |
| 毛利率 | 74.6% | 25.3% |
| 营业利润率 | 30.1% | 7.9% |
| 净利率 | 25.2% | — |
| 营收同比 | -14.5% | 24.9% |
| 净利润同比 | -44.3% | — |
| 每股收益（稀释后） | $0.76 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收OLEDROCK
| Q1 26 | $142.2M | — | ||
| Q4 25 | $172.9M | $225.0M | ||
| Q3 25 | $139.6M | $310.9M | ||
| Q2 25 | $171.8M | $309.5M | ||
| Q1 25 | $166.3M | $290.0M | ||
| Q4 24 | $162.3M | $180.1M | ||
| Q3 24 | $161.6M | $277.1M | ||
| Q2 24 | $158.5M | $273.6M |
净利润OLEDROCK
| Q1 26 | $35.9M | — | ||
| Q4 25 | $66.3M | — | ||
| Q3 25 | $44.0M | $-89.1M | ||
| Q2 25 | $67.3M | $26.0M | ||
| Q1 25 | $64.4M | $21.1M | ||
| Q4 24 | $46.0M | — | ||
| Q3 24 | $66.9M | $34.0M | ||
| Q2 24 | $52.3M | $32.2M |
毛利率OLEDROCK
| Q1 26 | 74.6% | — | ||
| Q4 25 | 76.1% | 25.3% | ||
| Q3 25 | 74.6% | 26.6% | ||
| Q2 25 | 77.2% | 28.4% | ||
| Q1 25 | 77.1% | 26.8% | ||
| Q4 24 | 77.0% | 29.0% | ||
| Q3 24 | 77.8% | 29.4% | ||
| Q2 24 | 75.8% | 30.5% |
营业利润率OLEDROCK
| Q1 26 | 30.1% | — | ||
| Q4 25 | 38.9% | 7.9% | ||
| Q3 25 | 30.9% | 12.8% | ||
| Q2 25 | 39.9% | 12.8% | ||
| Q1 25 | 41.9% | 8.8% | ||
| Q4 24 | 32.3% | 13.3% | ||
| Q3 24 | 41.5% | 15.6% | ||
| Q2 24 | 35.6% | 14.9% |
净利率OLEDROCK
| Q1 26 | 25.2% | — | ||
| Q4 25 | 38.4% | — | ||
| Q3 25 | 31.5% | -28.6% | ||
| Q2 25 | 39.2% | 8.4% | ||
| Q1 25 | 38.8% | 7.3% | ||
| Q4 24 | 28.4% | — | ||
| Q3 24 | 41.4% | 12.3% | ||
| Q2 24 | 33.0% | 11.8% |
每股收益（稀释后）OLEDROCK
| Q1 26 | $0.76 | — | ||
| Q4 25 | $1.40 | — | ||
| Q3 25 | $0.92 | $-2.98 | ||
| Q2 25 | $1.41 | $0.87 | ||
| Q1 25 | $1.35 | — | ||
| Q4 24 | $0.96 | — | ||
| Q3 24 | $1.40 | $1.11 | ||
| Q2 24 | $1.10 | $1.05 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $516.4M | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | — | $950.4M |
| 总资产 | $1.9B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资OLEDROCK
| Q1 26 | $516.4M | — | ||
| Q4 25 | $602.4M | $115.7M | ||
| Q3 25 | $603.0M | $89.4M | ||
| Q2 25 | $525.2M | $43.3M | ||
| Q1 25 | $571.3M | $25.1M | ||
| Q4 24 | $492.7M | $269.5M | ||
| Q3 24 | $551.6M | $228.9M | ||
| Q2 24 | $530.5M | $179.1M |
总债务OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
股东权益OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $950.4M | ||
| Q3 25 | $1.7B | $951.8M | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.6B | $1.0B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $975.7M |
总资产OLEDROCK
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.8B | $1.4B |
负债/权益比OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $108.9M | $35.5M |
| 自由现金流经营现金流 - 资本支出 | — | $26.2M |
| 自由现金流率自由现金流/营收 | — | 11.7% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | 3.03× | — |
| 过去12个月自由现金流最近4个季度 | — | $120.6M |
8季度趋势，按日历期对齐
经营现金流OLEDROCK
| Q1 26 | $108.9M | — | ||
| Q4 25 | $31.1M | $35.5M | ||
| Q3 25 | $97.2M | $73.0M | ||
| Q2 25 | $51.9M | $44.9M | ||
| Q1 25 | $30.6M | $13.7M | ||
| Q4 24 | $34.7M | $19.9M | ||
| Q3 24 | $79.9M | $64.7M | ||
| Q2 24 | $67.0M | $36.5M |
自由现金流OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $26.2M | ||
| Q3 25 | $84.3M | $64.8M | ||
| Q2 25 | $37.5M | $27.3M | ||
| Q1 25 | $17.5M | $2.3M | ||
| Q4 24 | $22.0M | $14.1M | ||
| Q3 24 | $66.2M | $60.5M | ||
| Q2 24 | $57.9M | $33.5M |
自由现金流率OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | 8.7% | 11.7% | ||
| Q3 25 | 60.4% | 20.8% | ||
| Q2 25 | 21.8% | 8.8% | ||
| Q1 25 | 10.5% | 0.8% | ||
| Q4 24 | 13.6% | 7.8% | ||
| Q3 24 | 41.0% | 21.8% | ||
| Q2 24 | 36.5% | 12.2% |
资本支出强度OLEDROCK
| Q1 26 | — | — | ||
| Q4 25 | 9.3% | 4.1% | ||
| Q3 25 | 9.2% | 2.6% | ||
| Q2 25 | 8.4% | 5.7% | ||
| Q1 25 | 7.9% | 3.9% | ||
| Q4 24 | 7.8% | 3.3% | ||
| Q3 24 | 8.4% | 1.5% | ||
| Q2 24 | 5.8% | 1.1% |
现金转化率OLEDROCK
| Q1 26 | 3.03× | — | ||
| Q4 25 | 0.47× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 0.77× | 1.73× | ||
| Q1 25 | 0.47× | 0.65× | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | 1.19× | 1.90× | ||
| Q2 24 | 1.28× | 1.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
