LG Display / LG Electronics (LGRDY)
ConvictionContext
Capital-intensive B2B panel manufacturer selling OLED/LCD modules to device OEMs (Apple, LG Electronics, Samsung, Sony, automotive) under multi-year qualification; cyclical, scale-driven, low-margin
Revenue
KRW 25.8T FY2025~$18B USDRev growth
~-3% YoYFY2025 KRW 25.8T vs FY2024 ~KRW 26.6T); the story is the margin turnaround + OLED mix, not top-line growth -- reported revenue is pressured by the exit from LCDGross margin
not disclosed as a headlineFY2025 EBITDA margin ~20% (Q1 2026 ~21%) is the closest proxyOp margin
~2.0% FY2025KRW 517B operating profit on KRW 25.8T); 3% in Q1 2026Capex intensity
high~10%+ of revenue (2026 capex ~KRW 2.5T+ on ~KRW 25T revenueMarket cap
~$4.2B USDJul 2026; NYSE ADR LPL ~$4.24B; also KRX: 034220). Enterprise value far higher (~$11-13B) due to net debt.The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for LG Display / LG Electronics (LGRDY)
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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