U.I.Display유아이디

U.I.Display's trailing half-year profits have recovered sharply from 2023 losses, but the share price is down 10.4% over the past month.

U.I.Display makes ITO-coated glass and does display processing work, with customers including LG Display. On trailing twelve months to H1 2026 it reported revenue of ₩52.4B... more precisely ₩52.4B is wrong in scale, so it is ₩52.4B: revenue of ₩52.4B, operating income of ₩4.1B and net income of ₩5.0B, and the shares closed at ₩1,097, well below the 52-week high of ₩1,341. Debt is meaningful, with borrowings of ₩14.7B against cash of ₩9.3B.

What stands out

• Trailing operating margin is 7.9% and net margin is 9.6%, against a 2025 operating margin of only 2.6%.
• 2025 revenue fell 7.2% to ₩49.7B, and 2023 posted an operating loss and a net loss of ₩3.3B.
• Valuation metrics are low on trailing figures: P/E of 3.7 and P/B of 0.8, with no dividend.
• The company's own DCF-based fair value model gives a base case of ₩1,254, a bear case of ₩240 and a bull case of ₩3,154; these are model outputs, not forecasts.
• Foreign ownership rose from 1.1% to 2% over 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• The amended half-year report (June 2026) and any further filing changes.
• Shareholder meeting outcomes and the 5%+ holding reports filed in recent months.
• Debt levels versus cash, and whether the trailing profit recovery continues in the next annual results; the news feed contained no headlines for this period.