UMCNYSESemiconductors & Related DevicesFiscal year ends December 31
UNITED MICROELECTRONICS CORP
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 30, 2026
$20.08+0.26 (+1.31%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2024
Gross margin
32.6%+18.2 pts over 5 years
Operating margin
22.2%+18.9 pts over 5 years
Net margin
21.0%+15.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.4% | +2.9% | +9.4% | – | |
| Gross profit | -2.7% | +1.6% | +28.8% | – | |
| Operating income | -10.8% | -0.0% | +60.3% | – | |
| Net income | -18.3% | -1.6% | +43.0% | – | |
| EPS, diluted | -18.3% | -2.0% | +43.4% | – | |
| Free cash flow | – | -49.9% | -32.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 4.0% | 13.8% | |
| Return on assets | – | 2.2% | 8.8% | |
| Current ratio | – | 2.11 | 2.45 | |
| Interest coverage | 20.7× | 1.6× | 29.4× | |
| Inventory turnover | – | 6.4× | 4.4× | |
| Capex to revenue | 41.8% | 11.1% | 38.1% | |
| Diluted shares | 13.17B | 12.95B | 12.37B |
Where the cash went
Fiscal 2020 to 2024, five years combined
United Microelectronics generated 481.83B TWD from operations and spent 365.84B TWD on capital expenditure, dividends and share buybacks. 91% of that went back into the business.
Generated
481.83B TWD
Used
365.84B TWD
Capital expenditure334.52B TWD91%Dividends29.64B TWD8%Share buybacks1.68B TWD0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin21.0%
×Asset turnover0.42×
×Equity multiplier1.56×
=Return on equity, FY202413.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 21.0% | 0.42× | 1.56× | 13.8% |
| FY2023 | 26.8% | 0.42× | 1.61× | 17.9% |
| FY2022 | 32.1% | 0.57× | 1.66× | 30.5% |
| FY2021 | 24.1% | 0.52× | 1.68× | 21.0% |
| FY2020 | 12.9% | 0.48× | 1.72× | 10.7% |
| FY2019 | 5.5% | 0.41× | 1.79× | 4.0% |
| FY2018 | 5.1% | 0.40× | 1.83× | 3.7% |
| FY2017 | 6.5% | 0.39× | 1.84× | 4.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
6of 8 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zero48.78B TWD
- Cash generatingOperating cash flow above zero93.87B TWD
- Return on assets improvedROA up on the prior year11.4% → 8.9%
- Earnings backed by cashOperating cash flow above net income93.87B TWD vs 48.78B TWD
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.13 → 2.45
- No dilutionShare count did not rise12.38B → 12.37B
- Gross margin improvedGross margin up on the prior year34.94% → 32.57%
- More efficientAsset turnover rose0.42 → 0.43