Financials United Microelectronics Corporation

Equities

2303

TW0002303005

Semiconductors

End-of-day quote Taiwan S.E. Other stock markets 2025-07-09			5-day change	1st Jan Change
43.90 ^TWD	+0.46%		-1.24%	+1.97%

Jul. 04	United Microelectronics Corporation Reports Unaudited Consolidated Revenues Results for the Month and Year to Date Ended June 2025	CI
Jun. 17	Fitch Revises United Microelectronics' Outlook to Stable	MT

Projected Income Statement: United Microelectronics Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	176,821	213,011	278,705	222,533	232,303	247,055	263,770	281,595
Change	-	20.47%	30.84%	-20.15%	4.39%	6.35%	6.77%	6.76%
EBITDA ¹	70,915	98,761	148,462	98,375	99,781	104,929	117,606	127,031
Change	-	39.27%	50.32%	-33.74%	1.43%	5.16%	12.08%	8.01%
EBIT ¹	22,007	51,686	104,292	57,891	51,613	46,586	53,369	58,059
Change	-	134.86%	101.78%	-44.49%	-10.84%	-9.74%	14.56%	8.79%
Interest Paid ¹	-1,336	-1,387	156	-1,570	-1,756	-2,136	-2,491	-
Earnings before Tax (EBT) ¹	27,926	61,803	106,097	70,912	56,220	48,950	54,758	64,727
Change	-	121.31%	71.67%	-33.16%	-20.72%	-12.93%	11.86%	18.21%
Net income ¹	29,189	55,780	87,198	60,990	47,211	41,657	49,602	54,495
Change	-	91.1%	56.32%	-30.06%	-22.59%	-11.76%	19.07%	9.86%
Announcement Date	1/27/21	1/25/22	1/16/23	1/31/24	1/21/25	-	-	-

¹TWD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	44,386	44,870	45,296	47,097	50,908	55,907	59,100	63,423	72,055	75,392	67,836	54,209	56,296	57,069	54,958	54,632	56,799	60,485	60,386	57,859	61,644	63,388	63,650	58,928	64,006	67,822	69,005
Change	-	1.09%	0.95%	3.98%	8.09%	9.82%	5.71%	7.32%	13.61%	4.63%	-10.02%	-20.09%	3.85%	1.37%	-3.7%	-0.59%	3.97%	6.49%	-0.16%	-4.18%	6.54%	2.83%	0.41%	-7.42%	8.62%	5.96%	1.74%
EBITDA ¹	18,094	19,303	17,608	19,455	22,984	26,889	29,433	33,724	39,271	41,353	34,114	24,384	25,606	25,240	23,144	22,550	25,009	26,802	25,420	23,914	27,225	28,208	26,134	23,746	25,919	27,797	28,792
Change	-	6.68%	-8.78%	10.49%	18.14%	16.99%	9.46%	14.58%	16.45%	5.3%	-17.5%	-28.52%	5.01%	-1.43%	-8.3%	-2.57%	10.9%	7.17%	-5.16%	-5.92%	13.84%	3.61%	-7.35%	-9.14%	9.15%	7.24%	3.58%
EBIT ¹	5,846	7,133	5,615	7,622	11,313	15,135	17,616	22,334	28,164	30,157	23,637	14,481	15,675	15,312	12,423	11,665	13,891	14,100	11,957	9,786	12,087	12,435	12,076	9,161	12,908	14,949	14,788
Change	-	22.02%	-21.28%	35.74%	48.43%	33.78%	16.39%	26.78%	26.1%	7.08%	-21.62%	-38.74%	8.25%	-2.32%	-18.87%	-6.11%	19.09%	1.5%	-15.2%	-18.16%	23.51%	2.89%	-2.89%	-24.14%	40.9%	15.81%	-1.08%
Charge d'intérêts ¹	-320.1	-341.7	-290.5	-406.2	-325.8	-418	-353.6	-334.9	-193.4	-139	567.6	896.4	938.9	-450.4	-423.3	-	-	-	-459	-399	-534	-534	-534	-	-	-	-
Earnings before Tax (EBT) ¹	6,664	9,207	11,234	10,983	13,194	19,452	18,174	23,648	25,578	32,346	24,526	19,128	18,485	18,648	14,650	12,721	16,420	16,564	10,514	9,347	13,045	13,787	13,272	12,146	14,441	16,614	15,763
Change	-	38.16%	22.02%	-2.23%	20.13%	47.43%	-6.57%	30.12%	8.16%	26.46%	-24.18%	-22.01%	-3.36%	0.88%	-21.44%	-13.17%	29.08%	0.87%	-36.52%	-11.1%	39.57%	5.69%	-3.74%	-8.48%	18.89%	15.04%	-5.12%
Net income ¹	6,681	9,106	11,196	10,428	11,943	17,460	15,949	19,808	21,327	26,996	19,068	16,183	15,641	15,971	13,195	10,456	13,786	14,472	8,497	7,777	11,094	11,843	11,289	9,174	12,077	13,936	13,781
Change	-	36.3%	22.95%	-6.86%	14.53%	46.19%	-8.65%	24.2%	7.67%	26.58%	-29.37%	-15.13%	-3.35%	2.11%	-17.38%	-20.76%	31.85%	4.97%	-41.29%	-8.48%	42.66%	6.75%	-4.68%	-18.73%	31.65%	15.39%	-1.11%
Announcement Date	7/28/20	10/28/20	1/27/21	4/28/21	7/28/21	10/27/21	1/25/22	4/27/22	7/27/22	10/26/22	1/16/23	4/26/23	7/26/23	10/25/23	1/31/24	4/24/24	7/31/24	10/30/24	1/21/25	4/23/25	-	-	-	-	-	-	-

¹TWD in Million

Estimates

Forecast Balance Sheet: United Microelectronics Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-31,235	-53,536	-121,155	-52,902	-24,173	-45,922	-57,393	-82,032
Change	-	-71.4%	-126.31%	56.34%	54.31%	-89.97%	-24.98%	-42.93%
Announcement Date	1/27/21	1/25/22	1/16/23	1/31/24	1/21/25	-	-	-

¹TWD in Million

Estimates

Cash Flow Forecast: United Microelectronics Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	26,345	48,035	80,128	91,474	88,544	58,592	62,971	64,094
Change	-	82.33%	66.81%	14.16%	-3.2%	-33.83%	7.47%	1.78%
Free Cash Flow (FCF) ¹	39,400	42,317	65,733	-5,474	5,328	38,144	39,410	56,598
Change	-	7.4%	55.33%	-108.33%	197.33%	615.91%	3.32%	43.61%
Announcement Date	1/27/21	1/25/22	1/16/23	1/31/24	1/21/25	-	-	-

¹TWD in Million

Estimates

Forecast Financial Ratios: United Microelectronics Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	40.11%	46.36%	53.27%	44.21%	42.95%	42.47%	44.59%	45.11%
EBIT Margin (%)	12.45%	24.26%	37.42%	26.01%	22.22%	18.86%	20.23%	20.62%
EBT Margin (%)	15.79%	29.01%	38.07%	31.87%	24.2%	19.81%	20.76%	22.99%
Net margin (%)	16.51%	26.19%	31.29%	27.41%	20.32%	16.86%	18.81%	19.35%
FCF margin (%)	22.28%	19.87%	23.59%	-2.46%	2.29%	15.44%	14.94%	20.1%
FCF / Net Income (%)	134.98%	75.86%	75.38%	-8.98%	11.29%	91.57%	79.45%	103.86%
Profitability
ROA	7.81%	13.25%	17.48%	11.17%	8.36%	7.55%	8.79%	9.1%
ROE	13.19%	21.6%	28.31%	17.57%	12.81%	11.22%	12.6%	13.31%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	14.9%	22.55%	28.75%	41.11%	38.12%	23.72%	23.87%	22.76%
CAPEX / EBITDA (%)	37.15%	48.64%	53.97%	92.99%	88.74%	55.84%	53.54%	50.46%
CAPEX / FCF (%)	66.87%	113.51%	121.9%	-1,671.06%	1,661.86%	153.61%	159.79%	113.24%
Items per share
Cash flow per share ¹	5.446	7.395	11.85	6.952	7.548	7.66	9.012	10.32
Change	-	35.8%	60.28%	-41.35%	8.57%	1.48%	17.65%	14.57%
Dividend per Share ¹	1.6	3	3.6	3	2.85	2.436	2.71	2.822
Change	-	87.5%	20%	-16.67%	-5%	-14.53%	11.25%	4.11%
Book Value Per Share ¹	19.52	23	27.23	29.04	30.39	30.74	32.19	34.4
Change	-	17.82%	18.41%	6.64%	4.64%	1.15%	4.72%	6.86%
EPS ¹	2.42	4.57	7.09	4.93	3.8	3.313	3.958	4.424
Change	-	88.84%	55.14%	-30.47%	-22.92%	-12.82%	19.46%	11.8%
Nbr of stocks (in thousands)	12,301,323	12,467,169	12,504,749	12,529,822	12,560,716	12,556,508	12,556,508	12,556,508
Announcement Date	1/27/21	1/25/22	1/16/23	1/31/24	1/21/25	-	-	-