The turnaround is real but fragile—revenue declined due to LCD exit. Watch Q2 2026 results for growth in OLED sales and margin sustainability, especially under evolving US tariff policy. Debt remains high at W12.7T, so cash flow generation is critical.
Price Chart
Executive Summary
LG Display's 20-F for FY2025 shows a return to profitability with net income of W304B, driven by improved gross margin (13.1%) and a gain from the sale of its TFT-LCD TV panel business. However, total revenue declined 3.0% to W25.81T as LCD TV panel production was discontinued. The company continues its strategic shift to OLED, which now accounts for 61% of revenue.
Key Facts
- Revenue of W25,810 billion, down 3.0% from W26,615 billion in 2024
- Net profit of W304 billion vs. loss of W2,409 billion in 2024 (first profit in 3 years)
- Gross margin improved to 13.1% from 9.7%
- OLED products represented 61% of 2025 revenue
- Gain of W759 billion recorded on sale of China TFT-LCD TV panel subsidiaries
- EPS of 453 won vs. loss of 5,438 won in 2024
Financial Impact
Return to profitability with net income of W304B, but revenue declined 3% YoY. Gross margin expanded 340 bps.
Risk Factors
- Continued revenue decline as LCD panel production fully discontinued
- US tariffs on Korean goods could pressure downstream customers and demand
- Ongoing antitrust litigation (Granville appeal in UK) with uncertain liability
- High debt levels (W12.7T) and working capital deficit of W2.6T
- Intensifying competition from Chinese OLED makers
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 10 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001193125-26-183413 |
| Document: lpl-ex1_1.htm | 0001193125-26-183413 |
| Document: lpl-ex2_6.htm | 0001193125-26-183413 |
| Document: lpl-ex12_1.htm | 0001193125-26-183413 |
| Document: lpl-ex12_2.htm | 0001193125-26-183413 |
| Document: lpl-ex13_1.htm | 0001193125-26-183413 |
| Document: lpl-ex13_2.htm | 0001193125-26-183413 |
| Document: 0001193125-26-183413-index-headers.html | 0001193125-26-183413 |
| Document: 0001193125-26-183413-index.html | 0001193125-26-183413 |
| Document: 0001193125-26-183413.txt | 0001193125-26-183413 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 6w ago | 6-K | $3.33 $2.91 | ▼ −12.61% | ▼ −12.61% | $3.12 (−6.31%) |
Aug 14, 2026 7w ago | 6-K | $3.50 $3.13 | ▲ +10.57% | ▲ +8.58% | $3.12 (+10.86%) |
Jul 23, 2026 10w ago | 6-K | $3.37 $3.33 | ▼ −1.19% | ▼ −4.50% | $3.12 (−7.42%) |
Jul 22, 2026 10w ago | 6-K | $3.29 $3.37 | ▲ +2.43% | ▼ −0.47% | $3.12 (−5.17%) |
Jul 1, 2026 13w ago | 6-K | $3.65 $2.79 | ▼ −23.56% | ▼ −21.38% | $3.12 (−14.52%) |
Jul 1, 2026 13w ago | 6-K | $3.65 $2.79 | ▼ −23.56% | ▼ −21.38% | $3.12 (−14.52%) |
May 15, 2026 20w ago | 6-K | $4.82 $4.73 | ▲ +1.87% | ▲ +3.99% | $3.12 (+35.27%) |
May 12, 2026 20w ago | 6-K | $4.44 $4.32 | ▼ −2.70% | ▼ −0.98% | $3.12 (−29.73%) |
Apr 28, 2026 22w ago | 20-F | $4.22 $4.88 | ▲ +15.64% | ▲ +10.18% | $3.12 (−26.07%) |
Apr 23, 2026 23w ago | 6-K | $4.28 $4.37 | ▲ +2.10% | ▼ −2.53% | $3.12 (−27.10%) |
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