Full-year 22nm revenue increases 93% YoY, reaching record high in Q4 2025
2025 earnings per share of NT$3.34
Fourth Quarter 2025 Overview1:
- Revenue: NT$61.81 billion (US$1.97 billion)
- Gross margin: 30.7%; Operating margin: 19.8%
- Revenue from 22/28nm: 36%
- Capacity utilization rate: 78%
- Net income attributable to shareholders of the parent: NT$10.06 billion (US$320 million)
- Earnings per share: NT$0.81; earnings per ADS: US$0.129
United Microelectronics Corporation (NYSE:UMC, TWSE: 2303)) ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the fourth quarter of 2025.
Fourth quarter consolidated revenue was NT$61.81 billion, increasing 4.5% from NT$59.13 billion in 3Q25. Compared to a year ago, 4Q25 revenue increased 2.4%. Consolidated gross margin for 4Q25 was 30.7%. Net income attributable to the shareholders of the parent was NT$10.06 billion, with earnings per ordinary share of NT$0.81.
Jason Wang, co-president of UMC, said, "In the fourth quarter, our results were in line with guidance, with flattish wafer shipments amid mild demand across most markets. The 4.5% revenue increase during the quarter was supported by favorable foreign exchange movement as well as sequential growth in our 22/28nm business, which continues to improve our product mix. Within the 22/28nm segment, 22nm revenue increased 31% quarter-on-quarter to a record high, accounting for more than 13% of total fourth-quarter revenue. Looking at the full year, UMC delivered solid performance in 2025, with shipments increasing 12.3% and revenue in US dollars up 5.3% year-on-year."
"Going into the first quarter of 2026, we expect wafer demand to remain firm. UMC is confident that 2026 will be another growth year as tape-outs on our 22nm platforms accelerate and other new solutions continue to gain business traction."
Co-president Wang added, "We have been working hard to lay the foundation for our next phase of growth, investing for the future in both capacity and technology. In 2025, we completed the new Phase 3 facility at our Singapore Fab 12i, which is already playing a central role in supporting customers to diversify supply chains. At the same time, we are striving to expand our footprint in the U.S. through innovative yet cost-effective modes of partnerships, such as our 12nm collaboration with Intel and the recently announced MOU with Polar Semiconductor. The leadership UMC has built over the past few years across specialty technologies - including embedded High Voltage, Non-Volatile Memory, and BCD - has and will continue to sustain stable business growth. Looking ahead to 2026 and beyond, we expect advanced packaging and silicon photonics to serve as new growth catalysts, positioning UMC to address the evolving needs of high-performance applications across AI, networking, consumer, automotive and more."
Co-president Wang said, "During 2025, UMC also reached important milestones in our sustainability journey. Just last month, we officially inaugurated our Circular Economy and Recycling Innovation Center, an on-site waste recycling facility expected to reduce UMC's total waste generated by Taiwan fabs by up to one-third. This is an important initiative in our goal to enhance resource recovery and develop circular economy solutions in our industry. In addition, UMC continues to be recognized as a leader in international corporate sustainability benchmarks, including the CDP and MSCI ESG Ratings."
Summary of Operating Results
Operating Results |
||||||||||||||
(Amount: NT$ million) |
4Q25 |
|
3Q25 |
|
QoQ %
|
4Q24 |
|
YoY %
|
||||||
Operating Revenues |
61,810 |
|
59,127 |
|
4.5 |
|
60,386 |
|
2.4 |
|||||
Gross Profit |
18,958 |
|
17,623 |
|
7.6 |
|
18,343 |
|
3.4 |
|||||
Operating Expenses |
(7,384 |
) |
(6,973 |
) |
5.9 |
|
(6,748 |
) |
9.4 |
|||||
Net Other Operating Income and Expenses |
651 |
|
467 |
|
39.3 |
|
362 |
|
79.8 |
|||||
Operating Income |
12,225 |
|
11,118 |
|
10.0 |
|
11,957 |
|
2.2 |
|||||
Net Non-Operating Income and Expenses |
3,278 |
|
3,526 |
|
(7.0 |
) |
(1,443 |
) |
- |
|||||
Net Income Attributable to Shareholders of the Parent |
10,055 |
|
14,982 |
|
(32.9 |
) |
8,497 |
|
18.3 |
|||||
EPS (NT$ per share) |
0.81 |
|
1.20 |
|
|
0.68 |
|
|
||||||
EPS (US$ per ADS) |
0.129 |
|
0.197 |
|
|
0.104 |
|
|
||||||
Exchange rate (USD/NTD) |
31.40 |
|
30.47 |
|
|
32.78 |
|
|
||||||
Note: Sums may not equal totals due to rounding. |
||||||||||||||
Fourth quarter operating revenues grew 4.5% sequentially to NT$61.81 billion. Revenue contribution from 40nm and below technologies represented 53% of wafer revenue. Gross profit increased 7.6% QoQ to NT$18.96 billion, or 30.7% of revenue. Operating expenses increased 5.9% to NT$7.38 billion. Net other operating income increased 39.3% to NT$0.65 billion. Net non-operating income totaled NT$3.28 billion. Net income attributable to shareholders of the parent amounted to NT$10.06 billion.
Earnings per ordinary share for the quarter was NT$0.81. Earnings per ADS was US$0.129. The basic weighted average number of shares outstanding in 4Q25 was 12,487,002,150, compared with 12,485,162,809 shares in 3Q25 and 12,481,192,676 shares in 4Q24. The diluted weighted average number of shares outstanding was 12,594,788,681 in 4Q25, compared with 12,556,345,829 shares in 3Q25 and 12,610,756,874 shares in 4Q24. The fully diluted shares counted on December 31, 2025 were approximately 12,598,993,000.
Detailed Financials Section
Operating revenues increased to NT$61.81 billion. COGS increased 3.2% QoQ to NT$42.85 billion. Gross profit increased 7.6% to NT$18.96 billion. Operating expenses grew 5.9% QoQ to NT$7.38 billion, as G&A increased 8.1% to NT$1.85 billion and R&D increased 6.6% to NT$4.94 billion, while Sales & Marketing decreased 5.3% to NT$0.60 billion. Net other operating income was NT$0.65 billion. In 4Q25, operating income increased 10.0% QoQ to NT$12.23 billion.
COGS & Expenses |
|||||||||||||||
(Amount: NT$ million) |
4Q25 |
|
3Q25 |
|
QoQ %
|
4Q24 |
|
YoY %
|
|||||||
Operating Revenues |
61,810 |
|
59,127 |
|
4.5 |
|
60,386 |
|
2.4 |
|
|||||
COGS |
(42,851 |
) |
(41,504 |
) |
3.2 |
|
(42,043 |
) |
1.9 |
|
|||||
Depreciation |
(12,991 |
) |
(12,635 |
) |
2.8 |
|
(11,841 |
) |
9.7 |
|
|||||
Other Mfg. Costs |
(29,860 |
) |
(28,869 |
) |
3.4 |
|
(30,202 |
) |
(1.1 |
) |
|||||
Gross Profit |
18,958 |
|
17,623 |
|
7.6 |
|
18,343 |
|
3.4 |
|
|||||
Gross Margin (%) |
30.7 |
% |
29.8 |
% |
|
30.4 |
% |
|
|||||||
Operating Expenses |
(7,384 |
) |
(6,973 |
) |
5.9 |
|
(6,748 |
) |
9.4 |
|
|||||
Sales & Marketing |
(595 |
) |
(628 |
) |
(5.3 |
) |
(623 |
) |
(4.6 |
) |
|||||
G&A |
(1,853 |
) |
(1,715 |
) |
8.1 |
|
(1,791 |
) |
3.5 |
|
|||||
R&D |
(4,937 |
) |
(4,631 |
) |
6.6 |
|
(4,334 |
) |
13.9 |
|
|||||
Expected Credit Impairment Gain |
0 |
|
0 |
|
0.0 |
|
0 |
|
(99.5 |
) |
|||||
Net Other Operating Income & Expenses |
651 |
|
467 |
|
39.3 |
|
362 |
|
79.8 |
|
|||||
Operating Income |
12,225 |
|
11,118 |
|
10.0 |
|
11,957 |
|
2.2 |
|
|||||
Note: Sums may not equal totals due to rounding. |
|||||||||||||||
Net non-operating income in 4Q25 was NT$3.28 billion, primarily reflecting the NT$2.81 billion in net investment gain and the NT$0.33 billion in exchange gain.
Non-Operating Income and Expenses |
||||||||
(Amount: NT$ million) |
4Q25 |
3Q25 |
|
4Q24 |
|
|||
Non-Operating Income and Expenses |
3,278 |
3,526 |
|
(1,443 |
) |
|||
Net Interest Income and Expenses |
134 |
88 |
|
290 |
|
|||
Net Investment Gain and Loss |
2,812 |
3,192 |
|
(2,614 |
) |
|||
Exchange Gain and Loss |
332 |
250 |
|
877 |
|
|||
Other Gain and Loss |
0 |
(3 |
) |
4 |
|
|||
Note: Sums may not equal totals due to rounding. |
||||||||
In 4Q25, cash inflow from operating activities was NT$33.00 billion. Cash outflow from investing activities totaled NT$17.06 billion, including NT$15.62 billion in capital expenditures, resulting in free cash flow of NT$17.38 billion. Cash outflow from financing activities was NT$11.42 billion, primarily due to NT$20.89 billion in bank loans, partially offset by NT$9.80 billion in bonds issued. Net cash inflow in 4Q25 amounted to NT$6.44 billion. Over the next 12 months, the company expects to repay NT$12.48 billion in bank loans.
Cash Flow Summary |
||||||
(Amount: NT$ million) |
For the 3-Month Period Ended Dec. 31, 2025 |
For the 3-Month Period Ended Sep. 30, 2025 |
||||
Cash Flow from Operating Activities |
33,003 |
|
20,938 |
|
||
Net income before tax |
15,503 |
|
14,644 |
|
||
Depreciation & Amortization |
15,630 |
|
14,995 |
|
||
Share of profit of associates and joint ventures |
(929 |
) |
(1,250 |
) |
||
Income tax paid |
(301 |
) |
(3,341 |
) |
||
Changes in working capital & others |
3,100 |
|
(4,110 |
) |
||
Cash Flow from Investing Activities |
(17,059 |
) |
(16,152 |
) |
||
Increase in financial assets measured at amortized cost |
(3,074 |
) |
(4,043 |
) |
||
Acquisition of PP&E |
(14,826 |
) |
(11,223 |
) |
||
Acquisition of intangible assets |
(667 |
) |
(948 |
) |
||
Others |
1,508 |
|
62 |
|
||
Cash Flow from Financing Activities |
(11,416 |
) |
(15,160 |
) |
||
Bank loans |
(20,885 |
) |
15,874 |
|
||
Bonds issued |
9,800 |
|
5,000 |
|
||
Cash dividends |
- |
|
(35,788 |
) |
||
Others |
(331 |
) |
(246 |
) |
||
Effect of Exchange Rate |
1,915 |
|
2,597 |
|
||
Net Cash Flow |
6,443 |
|
(7,777 |
) |
||
Beginning balance |
104,217 |
|
111,994 |
|
||
Ending balance |
110,660 |
|
104,217 |
|
||
Note: Sums may not equal totals due to rounding. |
||||||
Cash and cash equivalents increased to NT$110.66 billion. Days sales outstanding decreased 3 days to 47 days, while days of inventory increased 1 day to 77 days.
Current Assets |
||||||
(Amount: NT$ billion) |
4Q25 |
3Q25 |
4Q24 |
|||
Cash and Cash Equivalents |
110.66 |
104.22 |
105.00 |
|||
Accounts Receivable |
31.27 |
32.25 |
33.34 |
|||
Days Sales Outstanding |
47 |
50 |
51 |
|||
Inventories, net |
37.23 |
35.18 |
35.78 |
|||
Days of Inventory |
77 |
76 |
80 |
|||
Total Current Assets |
204.78 |
192.85 |
189.68 |
|||
Current liabilities increased to NT$88.90 billion. Long-term credit / bonds decreased to NT$45.37 billion. Total liabilities increased to NT$199.14 billion, while debt to equity ratio decreased to 52%.
Liabilities |
|||||||||
(Amount: NT$ billion) |
4Q25 |
|
3Q25 |
|
4Q24 |
|
|||
Total Current Liabilities |
88.90 |
|
82.28 |
|
75.26 |
|
|||
Accounts Payable |
9.17 |
|
8.04 |
|
7.63 |
|
|||
Short-Term Credit / Bonds |
27.60 |
|
30.15 |
|
19.51 |
|
|||
Payables on Equipment |
11.68 |
|
11.57 |
|
10.52 |
|
|||
Other |
40.45 |
|
32.52 |
|
37.60 |
|
|||
Long-Term Credit / Bonds |
45.37 |
|
53.76 |
|
55.53 |
|
|||
Total Liabilities |
199.14 |
|
194.20 |
|
192.02 |
|
|||
Debt to Equity |
52 |
% |
54 |
% |
51 |
% |
|||
Analysis of Revenue2
Revenue from Asia Pacific increased to 64%, while business from North America decreased to 21% of sales. Business from Europe increased to 11%, while contribution from Japan was 4%.
Revenue Breakdown by Region |
|||||||||||||||
Region |
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
|
|||||
North America |
21 |
% |
25 |
% |
20 |
% |
22 |
% |
25 |
% |
|||||
Asia Pacific |
64 |
% |
63 |
% |
67 |
% |
66 |
% |
61 |
% |
|||||
Europe |
11 |
% |
8 |
% |
8 |
% |
7 |
% |
11 |
% |
|||||
Japan |
4 |
% |
4 |
% |
5 |
% |
5 |
% |
3 |
% |
|||||
Revenue contribution from 22/28nm was increased to 36% of wafer revenue, while 40nm contribution remained at 17% of sales.
Revenue Breakdown by Geometry |
|||||||||||||||
Geometry |
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
|
|||||
14nm and below |
0 |
% |
0 |
% |
0 |
% |
0 |
% |
0 |
% |
|||||
14nm<x<=28nm |
36 |
% |
35 |
% |
40 |
% |
37 |
% |
34 |
% |
|||||
28nm<x<=40nm |
17 |
% |
17 |
% |
15 |
% |
16 |
% |
16 |
% |
|||||
40nm<x<=65nm |
17 |
% |
18 |
% |
17 |
% |
16 |
% |
16 |
% |
|||||
65nm<x<=90nm |
8 |
% |
8 |
% |
7 |
% |
8 |
% |
11 |
% |
|||||
90nm<x<=0.13um |
7 |
% |
8 |
% |
7 |
% |
7 |
% |
10 |
% |
|||||
0.13um<x<=0.18um |
10 |
% |
9 |
% |
9 |
% |
10 |
% |
9 |
% |
|||||
0.18um<x<=0.35um |
4 |
% |
4 |
% |
4 |
% |
5 |
% |
4 |
% |
|||||
0.5um and above |
1 |
% |
1 |
% |
1 |
% |
1 |
% |
0 |
% |
|||||
Revenue from fabless customers accounted for 80% of revenue.
Revenue Breakdown by Customer Type |
|||||||||||||||
Customer Type |
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
|
|||||
Fabless |
80 |
% |
81 |
% |
81 |
% |
82 |
% |
84 |
% |
|||||
IDM |
20 |
% |
19 |
% |
19 |
% |
18 |
% |
16 |
% |
|||||
Revenue from the communication segment accounted for 42%, while business from computer applications was 12% of sales. Business from consumer applications accounted for 28%, while other segments was 18% of revenue.
Revenue Breakdown by Application (1) |
|||||||||||||||
Application |
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
|
|||||
Computer |
12 |
% |
12 |
% |
11 |
% |
11 |
% |
13 |
% |
|||||
Communication |
42 |
% |
42 |
% |
41 |
% |
40 |
% |
39 |
% |
|||||
Consumer |
28 |
% |
29 |
% |
33 |
% |
34 |
% |
29 |
% |
|||||
Others |
18 |
% |
17 |
% |
15 |
% |
15 |
% |
19 |
% |
|||||
(1) Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec, keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc. |
Blended ASP Trend
(To view blended ASP trend, please click here for 4Q25 ASP)
Shipment and Utilization Rate3
Wafer shipments decreased 0.6% QoQ to 994K during the fourth quarter, while quarterly capacity was 1,305K. Overall utilization rate in 4Q25 was 78%.
Wafer Shipments |
||||||||||
|
|
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
Wafer Shipments
|
|
994 |
|
1,000 |
|
967 |
|
910 |
|
909 |
Quarterly Capacity Utilization Rate |
||||||||||
|
|
4Q25 |
|
3Q25 |
|
2Q25 |
|
1Q25 |
|
4Q24 |
Utilization Rate |
|
78% |
|
78% |
|
76% |
|
69% |
|
70% |
Total Capacity
|
|
1,305 |
|
1,305 |
|
1,290 |
|
1,264 |
|
1,280 |
Capacity4
Total capacity in the fourth quarter was 1,305K 12-inch equivalent wafers. Capacity will decrease to 1,283K 12-inch equivalent wafers in the first quarter of 2026, reflecting the annual production maintenance across 8-inch and 12-inch facilities.
Annual Capacity in thousands of wafers |
|
Quarterly Capacity in thousands of wafers |
||||||||||||||||||||||
FAB |
Geometry
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
|
FAB |
1Q26E |
4Q25 |
3Q25 |
2Q25 |
|||||||||
WTK |
6" |
5 – 0.15 |
317 |
|
331 |
|
328 |
|
335 |
|
|
WTK |
6" |
78 |
80 |
80 |
80 |
|||||||
8A |
8" |
3 – 0.11 |
857 |
|
829 |
|
811 |
|
765 |
|
|
8A |
8" |
212 |
215 |
215 |
215 |
|||||||
8C |
8" |
0.35 – 0.11 |
500 |
|
477 |
|
473 |
|
459 |
|
|
8C |
8" |
123 |
125 |
125 |
125 |
|||||||
8D |
8" |
0.18 – 0.11 |
471 |
|
473 |
|
440 |
|
410 |
|
|
8D |
8" |
116 |
118 |
118 |
118 |
|||||||
8E |
8" |
0.6 – 0.11 |
522 |
|
524 |
|
490 |
|
469 |
|
|
8E |
8" |
129 |
131 |
131 |
131 |
|||||||
8F |
8" |
0.18 – 0.11 |
583 |
|
578 |
|
570 |
|
550 |
|
|
8F |
8" |
144 |
146 |
146 |
146 |
|||||||
8S |
8" |
0.18 – 0.11 |
466 |
|
455 |
|
447 |
|
443 |
|
|
8S |
8" |
115 |
117 |
117 |
117 |
|||||||
8N |
8" |
0.5 – 0.11 |
996 |
|
1,013 |
|
996 |
|
952 |
|
|
8N |
8" |
246 |
250 |
250 |
250 |
|||||||
12A |
12" |
0.13 – 0.014 |
1,629 |
|
1,556 |
|
1,305 |
|
1,170 |
|
|
12A |
12" |
402 |
409 |
409 |
409 |
|||||||
12i |
12" |
0.13 – 0.040 |
684 |
|
678 |
|
655 |
|
655 |
|
|
12i |
12" |
169 |
172 |
172 |
172 |
|||||||
12X |
12" |
0.080 – 0.022 |
347 |
|
318 |
|
317 |
|
314 |
|
|
12X |
12" |
93 |
95 |
95 |
80 |
|||||||
12M |
12" |
0.13 – 0.040 |
471 |
|
455 |
|
438 |
|
436 |
|
|
12M |
12" |
117 |
119 |
119 |
119 |
|||||||
Total(1) |
5,163 |
|
5,022 |
|
4,674 |
|
4,458 |
|
|
Total |
1,283 |
1,305 |
1,305 |
1,290 |
||||||||||
YoY Growth Rate |
3 |
% |
7 |
% |
5 |
% |
6 |
% |
|
|
|
|
|
|
||||||||||
(1) One 6-inch wafer is converted into 0.25 (62/122) 12-inch equivalent wafer; one 8-inch wafer is converted into 0.44 (82/122) 12-inch equivalent wafers. Total capacity figures are expressed in 12-inch equivalent wafers.
CAPEX
CAPEX spending in 4Q25 totaled US$501 million as 2025 CAPEX amounted to US$1.6 billion. 2026 cash-based CAPEX budget will be US$1.5 billion.
Capital Expenditure by Year - in US$ billion |
|||||
Year |
2025 |
2024 |
2023 |
2022 |
2021 |
CAPEX |
$ 1.6 |
$ 2.9 |
$ 3.0 |
$ 2.7 |
$ 1.8 |
2026 CAPEX Plan |
||
8" |
12" |
Total |
10% |
90% |
US$1.5 billion |
Brief Summary of Full Year 2025 Consolidated Results
- Consolidated revenue in NTD increased 2.3% YoY to NT$237.55 billion, from NT$232.30 billion in 2024.
- Gross profit decreased 8.9%, compared to a year ago, representing 29.0% of 2025 revenue.
- Operating income decreased 14.8% year-on-year, accounting for 18.5% of 2025 revenue.
- Net income attributable to shareholders of the parent decreased 11.6% to NT$41.72 billion in 2025.
- EPS was NT$3.34, or EPADS of US$0.532 for 2025.
- 22/28nm revenue contribution accounted for 37% in 2025.
Operating Results |
|||||||||
(Amount: NT$ million) |
2025 |
|
2024 |
|
YoY %
|
||||
Operating Revenues |
237,553 |
|
232,303 |
|
2.3 |
|
|||
Gross Profit |
68,906 |
|
75,654 |
|
(8.9 |
) |
|||
Operating Expenses |
(26,948 |
) |
(25,365 |
) |
6.2 |
|
|||
Net Other Operating Income and Expenses |
1,990 |
|
1,324 |
|
50.3 |
|
|||
Operating Income |
43,949 |
|
51,613 |
|
(14.8 |
) |
|||
Net Non-Operating Income and Expenses |
5,699 |
|
4,607 |
|
23.7 |
|
|||
Income Tax Expense |
(8,113 |
) |
(9,114 |
) |
(11.0 |
) |
|||
Net Income Attributable to Shareholders of the Parent |
41,716 |
|
47,211 |
|
(11.6 |
) |
|||
EPS (NT$ per share) |
3.34 |
|
3.80 |
|
|
||||
EPS (US$ per ADS) |
0.532 |
|
0.580 |
|
|
||||
Exchange rate (USD/NTD) |
31.40 |
|
32.78 |
|
|
||||
Annual Sales Breakdown in Revenue for Foundry Segment
Region |
2025 |
|
2024 |
|
||
North America |
22 |
% |
25 |
% |
||
Asia Pacific |
65 |
% |
63 |
% |
||
Europe |
9 |
% |
8 |
% |
||
Japan |
4 |
% |
4 |
% |
||
|
|
|
||||
Technology |
2025 |
|
2024 |
|
||
14nm and below |
0 |
% |
0 |
% |
||
14nm<x<=28nm |
37 |
% |
34 |
% |
||
28nm<x<=40nm |
16 |
% |
14 |
% |
||
40nm<x<=65nm |
17 |
% |
16 |
% |
||
65nm<x<=90nm |
8 |
% |
11 |
% |
||
90nm<x<=0.13um |
7 |
% |
10 |
% |
||
0.13um<x<=0.18um |
10 |
% |
10 |
% |
||
0.18um<x<=0.35um |
4 |
% |
4 |
% |
||
0.5um and above |
1 |
% |
1 |
% |
||
|
|
|
||||
Customer Type |
2025 |
|
2024 |
|
||
Fabless |
81 |
% |
84 |
% |
||
IDM |
19 |
% |
16 |
% |
||
|
|
|
||||
Application |
2025 |
|
2024 |
|
||
Computer |
12 |
% |
14 |
% |
||
Communication |
41 |
% |
42 |
% |
||
Consumer |
31 |
% |
28 |
% |
||
Others |
16 |
% |
16 |
% |
||
First Quarter 2026 Outlook & Guidance
Quarter-over-Quarter Guidance:
- Wafer Shipments: Will remain flat
- ASP in USD: Will remain firm
- Gross Profit Margin: Will be approximately in the high-20% range
- Capacity Utilization: mid-70% range
- 2026 CAPEX: US$1.5 billion
Recent Developments / Announcements
Please visit UMC's website for further details regarding the above announcements
Conference Call / Webcast Announcement
Wednesday, January 28, 2026
Time: 5:00 PM (Taipei) / 4:00 AM (New York) / 09:00 AM (London)
Dial-in numbers and Access Codes: |
||
Taiwan Number: |
02 3396 1191 |
|
Taiwan Toll Free: |
0080 119 6666 |
|
US Toll Free: |
+1 866 212 5567 |
|
Other Areas: |
+886 2 3396 1191 |
|
|
||
Access Code: |
1513528# |
|
A live webcast and replay of the 4Q25 results announcement will be available at www.umc.com under the "Investors / Events" section.
About UMC
UMC (NYSE:UMC, TWSE: 2303)) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC's comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with a combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standards. UMC is headquartered in Hsinchu, Taiwan, plus local offices in the United States, Europe, China, Japan, Korea, and Singapore, with a worldwide total of 20,000 employees. For more information, please visit: http://www.umc.com.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and as defined in the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding anticipated financial results for the fourth quarter of 2025; the expected wafer shipment and ASP; the anticipated annual budget; capex strategies; environmental protection goals and water management strategies; impact of foreign currency exchange rates; expected foundry capacities; the ability to obtain new business opportunities; and information under the heading "First Quarter 2026 Outlook and Guidance."
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual performance, financial condition or results of operations of UMC to be materially different from what is stated or may be implied in such forward-looking statements. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to: (i) dependence upon the frequent introduction of new services and technologies based on the latest developments in the industry in which UMC operates; (ii) the intensely competitive semiconductor, communications, consumer electronics and computer industries and markets; (iii) the risks associated with international business activities; (iv) dependence upon key personnel; (v) general economic and political conditions; (vi) possible disruptions in commercial activities caused by natural and human-induced events and disasters, including natural disasters, terrorist activity, armed conflict and highly contagious diseases; (vii) reduced end-user purchases relative to expectations and orders; and (viii) fluctuations in foreign currency exchange rates. Further information regarding these and other risk factors is included in UMC's filings with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F. All information provided in this release is as of the date of this release and are based on assumptions that UMC believes to be reasonable as of this date, and UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
The financial statements included in this release are prepared and published in accordance with Taiwan International Financial Reporting Standards, or TIFRSs, recognized by the Financial Supervisory Commission in the ROC, which is different from International Financial Reporting Standards, or IFRSs, issued by the International Accounting Standards Board. Investors are cautioned that there may be significant differences between TIFRSs and IFRSs. In addition, TIFRSs and IFRSs differ in certain significant respects from generally accepted accounting principles in the ROC and generally accepted accounting principles in the United States.
- FINANCIAL TABLES TO FOLLOW -
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||||
| Consolidated Condensed Balance Sheet | ||||||
| As of December 31, 2025 | ||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||||
| December 31, 2025 | ||||||
| US$ | NT$ | % | ||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 3,524 |
110,660 |
19.1% |
|||
| Accounts receivable, net | 996 |
31,274 |
5.4% |
|||
| Inventories, net | 1,186 |
37,228 |
6.4% |
|||
| Other current assets | 816 |
25,621 |
4.4% |
|||
| Total current assets | 6,522 |
204,783 |
35.4% |
|||
| Non-current assets | ||||||
| Funds and investments | 2,400 |
75,373 |
13.0% |
|||
| Property, plant and equipment | 8,643 |
271,395 |
46.9% |
|||
| Right-of-use assets | 238 |
7,476 |
1.3% |
|||
| Other non-current assets | 636 |
19,969 |
3.5% |
|||
| Total non-current assets | 11,918 |
374,213 |
64.6% |
|||
| Total assets | 18,439 |
578,996 |
100.0% |
|||
| Liabilities | ||||||
| Current liabilities | ||||||
| Short-term loans | 268 |
8,409 |
1.5% |
|||
| Payables | 1,557 |
48,880 |
8.4% |
|||
| Current portion of long-term liabilities | 611 |
19,188 |
3.3% |
|||
| Other current liabilities | 396 |
12,420 |
2.2% |
|||
| Total current liabilities | 2,831 |
88,896 |
15.4% |
|||
| Non-current liabilities | ||||||
| Bonds payable | 1,085 |
34,071 |
5.9% |
|||
| Long-term loans | 360 |
11,301 |
2.0% |
|||
| Lease liabilities, noncurrent | 171 |
5,376 |
0.9% |
|||
| Other non-current liabilities | 1,895 |
59,496 |
10.3% |
|||
| Total non-current liabilities | 3,511 |
110,244 |
19.0% |
|||
| Total liabilities | 6,342 |
199,141 |
34.4% |
|||
| Equity | ||||||
| Equity attributable to the parent company | ||||||
| Capital | 4,009 |
125,882 |
21.7% |
|||
| Additional paid-in capital | 491 |
15,410 |
2.7% |
|||
| Retained earnings and other components of equity | 7,595 |
238,477 |
41.2% |
|||
| Total equity attributable to the parent company | 12,095 |
379,768 |
65.6% |
|||
| Non-controlling interests | 3 |
87 |
0.0% |
|||
| Total equity | 12,097 |
379,855 |
65.6% |
|||
| Total liabilities and equity | 18,439 |
578,996 |
100.0% |
|||
| Notes: | ||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2025 exchange rate of NT $31.40 per U.S. Dollar. | ||||||
| (2) Sums may not equal totals due to rounding. | ||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income | ||||||||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||||||||||||||||||||||
| Except Per Share and Per ADS Data | ||||||||||||||||||||||||
| Year over Year Comparison | Quarter over Quarter Comparison | |||||||||||||||||||||||
| Three-Month Period Ended | Three-Month Period Ended | |||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | Chg. | December 31, 2025 | September 30, 2025 | Chg. | |||||||||||||||||||
| US$ | NT$ | NT$ | % | US$ | NT$ | NT$ | % | |||||||||||||||||
| Operating revenues | 1,968 |
|
61,810 |
|
60,386 |
|
2.4 |
% |
1,968 |
|
61,810 |
|
59,127 |
|
4.5 |
% |
||||||||
| Operating costs | (1,365 |
) |
(42,851 |
) |
(42,043 |
) |
1.9 |
% |
(1,365 |
) |
(42,851 |
) |
(41,504 |
) |
3.2 |
% |
||||||||
| Gross profit | 604 |
|
18,958 |
|
18,343 |
|
3.4 |
% |
604 |
|
18,958 |
|
17,623 |
|
7.6 |
% |
||||||||
30.7 |
% |
30.7 |
% |
30.4 |
% |
30.7 |
% |
30.7 |
% |
29.8 |
% |
|||||||||||||
| Operating expenses | ||||||||||||||||||||||||
| - Sales and marketing expenses | (19 |
) |
(595 |
) |
(623 |
) |
(4.6 |
%) |
(19 |
) |
(595 |
) |
(628 |
) |
(5.3 |
%) |
||||||||
| - General and administrative expenses | (59 |
) |
(1,853 |
) |
(1,791 |
) |
3.5 |
% |
(59 |
) |
(1,853 |
) |
(1,715 |
) |
8.1 |
% |
||||||||
| - Research and development expenses | (157 |
) |
(4,937 |
) |
(4,334 |
) |
13.9 |
% |
(157 |
) |
(4,937 |
) |
(4,631 |
) |
6.6 |
% |
||||||||
| - Expected credit impairment gain | 0 |
|
0 |
|
0 |
|
(99.5 |
%) |
0 |
|
0 |
|
0 |
|
0.0 |
% |
||||||||
| Subtotal | (235 |
) |
(7,384 |
) |
(6,748 |
) |
9.4 |
% |
(235 |
) |
(7,384 |
) |
(6,973 |
) |
5.9 |
% |
||||||||
| Net other operating income and expenses | 21 |
|
651 |
|
362 |
|
79.8 |
% |
21 |
|
651 |
|
467 |
|
39.3 |
% |
||||||||
| Operating income | 389 |
|
12,225 |
|
11,957 |
|
2.2 |
% |
389 |
|
12,225 |
|
11,118 |
|
10.0 |
% |
||||||||
19.8 |
% |
19.8 |
% |
19.8 |
% |
19.8 |
% |
19.8 |
% |
18.8 |
% |
|||||||||||||
| Net non-operating income and expenses | 104 |
|
3,278 |
|
(1,443 |
) |
- |
|
104 |
|
3,278 |
|
3,526 |
|
(7.0 |
%) |
||||||||
| Income from continuing operations before income tax |
494 |
|
15,503 |
|
10,514 |
|
47.4 |
% |
494 |
|
15,503 |
|
14,644 |
|
5.9 |
% |
||||||||
25.1 |
% |
25.1 |
% |
17.4 |
% |
25.1 |
% |
25.1 |
% |
24.8 |
% |
|||||||||||||
| Income tax benefit (expense) | (175 |
) |
(5,504 |
) |
(2,054 |
) |
167.9 |
% |
(175 |
) |
(5,504 |
) |
300 |
|
- |
|
||||||||
| Net income | 318 |
|
9,999 |
|
8,460 |
|
18.2 |
% |
318 |
|
9,999 |
|
14,944 |
|
(33.1 |
%) |
||||||||
16.2 |
% |
16.2 |
% |
14.0 |
% |
16.2 |
% |
16.2 |
% |
25.3 |
% |
|||||||||||||
| Other comprehensive income (loss) | 278 |
|
8,721 |
|
1,270 |
|
586.4 |
% |
278 |
|
8,721 |
|
9,005 |
|
(3.2 |
%) |
||||||||
| Total comprehensive income (loss) | 596 |
|
18,720 |
|
9,730 |
|
92.4 |
% |
596 |
|
18,720 |
|
23,949 |
|
(21.8 |
%) |
||||||||
| Net income attributable to: | ||||||||||||||||||||||||
| Shareholders of the parent | 320 |
|
10,055 |
|
8,497 |
|
18.3 |
% |
320 |
|
10,055 |
|
14,982 |
|
(32.9 |
%) |
||||||||
| Non-controlling interests | (2 |
) |
(56 |
) |
(37 |
) |
50.7 |
% |
(2 |
) |
(56 |
) |
(38 |
) |
46.9 |
% |
||||||||
| Comprehensive income (loss) attributable to: | ||||||||||||||||||||||||
| Shareholders of the parent | 598 |
|
18,776 |
|
9,767 |
|
92.2 |
% |
598 |
|
18,776 |
|
23,987 |
|
(21.7 |
%) |
||||||||
| Non-controlling interests | (2 |
) |
(56 |
) |
(37 |
) |
50.5 |
% |
(2 |
) |
(56 |
) |
(38 |
) |
47.0 |
% |
||||||||
| Earnings per share-basic | 0.026 |
|
0.81 |
|
0.68 |
|
0.026 |
|
0.81 |
|
1.20 |
|
||||||||||||
| Earnings per ADS (2) | 0.129 |
|
4.05 |
|
3.40 |
|
0.129 |
|
4.05 |
|
6.00 |
|
||||||||||||
| Weighted average number of shares | ||||||||||||||||||||||||
| outstanding (in millions) | 12,487 |
|
12,481 |
|
12,487 |
|
12,485 |
|
||||||||||||||||
| Notes: | ||||||||||||||||||||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2025 exchange rate of NT $31.40 per U.S. Dollar. | ||||||||||||||||||||||||
| (2) 1 ADS equals 5 common shares. | ||||||||||||||||||||||||
| (3) Sums may not equal totals due to rounding. | ||||||||||||||||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||||||||||||||||
| Consolidated Condensed Statements of Comprehensive Income | ||||||||||||||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||||||||||||||||
| Except Per Share and Per ADS Data | ||||||||||||||||||
| For the Three-Month Period Ended | For the Twelve-Month Period Ended | |||||||||||||||||
| December 31, 2025 | December 31, 2025 | |||||||||||||||||
| US$ | NT$ | % | US$ | NT$ | % | |||||||||||||
| Operating revenues | 1,968 |
|
61,810 |
|
100.0 |
% |
7,565 |
|
237,553 |
|
100.0 |
% |
||||||
| Operating costs | (1,365 |
) |
(42,851 |
) |
(69.3 |
%) |
(5,371 |
) |
(168,647 |
) |
(71.0 |
%) |
||||||
| Gross profit | 604 |
|
18,958 |
|
30.7 |
% |
2,194 |
|
68,906 |
|
29.0 |
% |
||||||
| Operating expenses | ||||||||||||||||||
| - Sales and marketing expenses | (19 |
) |
(595 |
) |
(1.0 |
%) |
(77 |
) |
(2,433 |
) |
(1.0 |
%) |
||||||
| - General and administrative expenses | (59 |
) |
(1,853 |
) |
(3.0 |
%) |
(216 |
) |
(6,792 |
) |
(2.9 |
%) |
||||||
| - Research and development expenses | (157 |
) |
(4,937 |
) |
(8.0 |
%) |
(564 |
) |
(17,725 |
) |
(7.5 |
%) |
||||||
| - Expected credit impairment gain | 0 |
|
0 |
|
0.0 |
% |
0 |
|
2 |
|
0.0 |
% |
||||||
| Subtotal | (235 |
) |
(7,384 |
) |
(11.9 |
%) |
(858 |
) |
(26,948 |
) |
(11.3 |
%) |
||||||
| Net other operating income and expenses | 21 |
|
651 |
|
1.1 |
% |
63 |
|
1,990 |
|
0.8 |
% |
||||||
| Operating income | 389 |
|
12,225 |
|
19.8 |
% |
1,400 |
|
43,949 |
|
18.5 |
% |
||||||
| Net non-operating income and expenses | 104 |
|
3,278 |
|
5.3 |
% |
181 |
|
5,699 |
|
2.4 |
% |
||||||
| Income from continuing operations before income tax |
494 |
|
15,503 |
|
25.1 |
% |
1,581 |
|
49,648 |
|
20.9 |
% |
||||||
| Income tax expense | (175 |
) |
(5,504 |
) |
(8.9 |
%) |
(258 |
) |
(8,113 |
) |
(3.4 |
%) |
||||||
| Net income | 318 |
|
9,999 |
|
16.2 |
% |
1,323 |
|
41,535 |
|
17.5 |
% |
||||||
| Other comprehensive income (loss) | 278 |
|
8,721 |
|
14.1 |
% |
(155 |
) |
(4,860 |
) |
(2.0 |
%) |
||||||
| Total comprehensive income (loss) | 596 |
|
18,720 |
|
30.3 |
% |
1,168 |
|
36,675 |
|
15.4 |
% |
||||||
| Net income attributable to: | ||||||||||||||||||
| Shareholders of the parent | 320 |
|
10,055 |
|
16.3 |
% |
1,329 |
|
41,716 |
|
17.6 |
% |
||||||
| Non-controlling interests | (2 |
) |
(56 |
) |
(0.1 |
%) |
(6 |
) |
(182 |
) |
(0.1 |
%) |
||||||
| Comprehensive income (loss) attributable to: | ||||||||||||||||||
| Shareholders of the parent | 598 |
|
18,776 |
|
30.4 |
% |
1,174 |
|
36,857 |
|
15.5 |
% |
||||||
| Non-controlling interests | (2 |
) |
(56 |
) |
(0.1 |
%) |
(6 |
) |
(182 |
) |
(0.1 |
%) |
||||||
| Earnings per share-basic | 0.026 |
|
0.81 |
|
0.106 |
|
3.34 |
|
||||||||||
| Earnings per ADS (2) | 0.129 |
|
4.05 |
|
0.532 |
|
16.70 |
|
||||||||||
| Weighted average number of shares outstanding (in millions) |
12,487 |
|
12,485 |
|
||||||||||||||
| Notes: | ||||||||||||||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2025 exchange rate of NT $31.40 per U.S. Dollar. | ||||||||||||||||||
| (2) 1 ADS equals 5 common shares. | ||||||||||||||||||
| (3) Sums may not equal totals due to rounding. | ||||||||||||||||||
| UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES | ||||||
| Consolidated Condensed Statement of Cash Flows | ||||||
| For the Twelve-Month Period Ended December 31, 2025 | ||||||
| Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$) | ||||||
| US$ | NT$ | |||||
| Cash flows from operating activities : | ||||||
| Net income before tax | 1,581 |
|
49,648 |
|
||
| Depreciation & Amortization | 1,887 |
|
59,259 |
|
||
| Share of profit of associates and joint ventures | (77 |
) |
(2,418 |
) |
||
| Income tax paid | (203 |
) |
(6,361 |
) |
||
| Changes in working capital & others | (8 |
) |
(264 |
) |
||
| Net cash provided by operating activities | 3,180 |
|
99,864 |
|
||
| Cash flows from investing activities : | ||||||
| Increase in financial assets measured at amortized cost | (263 |
) |
(8,263 |
) |
||
| Acquisition of property, plant and equipment | (1,521 |
) |
(47,745 |
) |
||
| Acquisition of intangible assets | (95 |
) |
(2,989 |
) |
||
| Others | 186 |
|
5,842 |
|
||
| Net cash used in investing activities | (1,693 |
) |
(53,154 |
) |
||
| Cash flows from financing activities : | ||||||
| Decrease in short-term loans | (3 |
) |
(107 |
) |
||
| Proceeds from bonds issued | 637 |
|
20,000 |
|
||
| Proceeds from long-term loans | 801 |
|
25,142 |
|
||
| Repayments of long-term loans | (1,491 |
) |
(46,831 |
) |
||
| Cash dividends | (1,140 |
) |
(35,784 |
) |
||
| Others | (52 |
) |
(1,624 |
) |
||
| Net cash used in financing activities | (1,249 |
) |
(39,204 |
) |
||
| Effect of exchange rate changes on cash and cash equivalents | (59 |
) |
(1,846 |
) |
||
| Net increase in cash and cash equivalents | 180 |
|
5,660 |
|
||
| Cash and cash equivalents at beginning of period | 3,344 |
|
105,000 |
|
||
| Cash and cash equivalents at end of period | 3,524 |
|
110,660 |
|
||
| Notes: | ||||||
| (1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2025 exchange rate of NT $31.40 per U.S. Dollar. | ||||||
| (2) Sums may not equal totals due to rounding. | ||||||
1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending December 31, 2025, the three-month period ending September 30, 2025, and the equivalent three-month period that ended December 31, 2024. For all 4Q25 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the December 31, 2025 exchange rate of NT$ 31.40 per U.S. Dollar.
2 Revenue in this section represents wafer sales.
3 Utilization Rate = Quarterly Wafer Out / Quarterly Capacity
4 Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260128921163/en/
Michael Lin / David Wong
UMC, Investor Relations
+ 886-2-2658-9168, ext. 16900
[email protected]
[email protected]