A Business at a Glance
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UNITED MICROELECTRONICS CORP
UMC
$49.0B
Mkt Cap
$19.48
-6.66%
UNITED MICROELECTRONICS CORP (UMC) has a current P/E ratio of 32.3, compared to its historical median P/E of 11.6. The stock is currently considered Expensive based on its historical valuation range.
UNITED MICROELECTRONICS CORP (UMC) has a 5-year average return on invested capital (ROIC) of 29.7%. This indicates strong capital allocation and a potential competitive advantage.
UNITED MICROELECTRONICS CORP (UMC) has a market capitalization of $49.0B. It is classified as a large-cap stock.
UNITED MICROELECTRONICS CORP (UMC) does not currently pay a regular dividend.
Based on historical P/E analysis, UNITED MICROELECTRONICS CORP (UMC) appears expensive. The current P/E of 32.3 is 179% above its historical median of 11.6. The estimated fair value CAGR (P/E method) is 32.8%.
UNITED MICROELECTRONICS CORP (UMC) operates in the Semiconductors & Related Devices industry, within the Technology sector.
UNITED MICROELECTRONICS CORP (UMC) reported annual revenue of $7.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
ITEM 1 IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 7.2B | 7.2B | 7.2B | 9.4B | 7.6B | 6.0B |
| Net Income | 1.5B | 1.5B | 1.9B | 3.0B | 1.8B | 712M |
| EPS | $0.60 | $0.60 | $0.76 | $1.18 | $0.74 | $0.31 |
| Free Cash Flow | 166M | 166M | -176M | 2.2B | 1.5B | 1.3B |
| ROIC | 18.5% | 20.2% | 17.5% | 41.0% | 60.4% | 9.3% |
| Gross Margin | 32.6% | 32.6% | 34.9% | 45.1% | 33.8% | 22.1% |
| Debt/Equity | 0.02 | 0.02 | 0.04 | - | 0.32 | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.8B | 1.8B | 129M | 179M | 188M | 214M |
| Operating Margin | 25.1% | 25.1% | 1.8% | 1.9% | 2.5% | 3.5% |
| ROE | 13.3% | 13.7% | 18.0% | - | 43.9% | 9.8% |
| Shares Outstanding | 2,516M | 2,516M | 2,541M | 2,569M | 2,458M | 2,271M |
| Metric | 2015 | 2016 | TTM | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 4.6B | 4.6B | 4.9B | 5.0B | 4.8B | 6.0B | 7.6B | 9.4B | 7.2B | 7.2B | 7.2B |
| Gross Margin | 21.9% | 20.5% | 18.1% | 15.1% | 14.4% | 22.1% | 33.8% | 45.1% | 34.9% | 32.6% | 32.6% |
| R&D | 384M | 423M | 451M | 433M | 385M | 440M | 464M | 435M | 428M | 486M | 486M |
| SG&A | 118M | 182M | 140M | 164M | 173M | 228M | 287M | 325M | 241M | 222M | 222M |
| EBIT | -30M | -8.2M | 55M | 170M | 168M | 214M | 188M | 179M | 129M | 1.8B | 1.8B |
| Op. Margin | -0.7% | -0.2% | 1.1% | 3.4% | 3.5% | 3.5% | 2.5% | 1.9% | 1.8% | 25.1% | 25.1% |
| Net Income | 398M | 130M | 221M | 108M | 149M | 712M | 1.8B | 3.0B | 1.9B | 1.5B | 1.5B |
| Net Margin | 8.7% | 2.8% | 4.5% | 2.1% | 3.1% | 11.8% | 23.7% | 32.4% | 27.0% | 21.0% | 21.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | 5.6% | 1.9% | 3.2% | 35.4% | 4.3% | 9.3% | 60.4% | 41.0% | 17.5% | 20.2% | 18.5% |
| ROE | 5.7% | 1.9% | 3.1% | 3.1% | 2.2% | 9.8% | 43.9% | N/A | 18.0% | 13.7% | 13.3% |
| ROA | N/A | N/A | N/A | 2552.0% | N/A | N/A | 512.7% | 841.8% | 21.6% | 8.8% | 8.7% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 1.9B | 1.5B | 1.7B | 1.7B | 1.8B | 2.2B | 3.2B | 4.9B | 2.8B | 2.9B | 2.9B |
| Free Cash Flow | -23M | -1.4B | 272M | 1.0B | 1.2B | 1.3B | 1.5B | 2.2B | -176M | 166M | 166M |
| Owner Earnings | 514M | -101M | 50M | 33M | 251M | 669M | 1.7B | 3.5B | 1.6B | 1.5B | 1.5B |
| CapEx | 1.9B | 2.9B | 1.5B | 651M | 536M | 899M | 1.7B | 2.7B | 2.9B | 2.8B | 2.8B |
| Maint. CapEx | 1.4B | 1.6B | 1.7B | 1.7B | 1.5B | 1.6B | 1.6B | 1.4B | 1.2B | 1.4B | 1.4B |
| Growth CapEx | 537M | 1.3B | 0 | 0 | 0 | 0 | 138M | 1.3B | 1.7B | 1.3B | 1.3B |
| D&A | 1.4B | 1.6B | 1.7B | 1.7B | 1.5B | 1.6B | 1.6B | 1.4B | 1.2B | 1.4B | 1.4B |
| CapEx/OCF | 101.2% | 197.1% | 84.3% | 38.5% | 30.1% | 40.1% | 53.2% | 54.9% | 106.4% | 94.3% | 94.3% |
| Capital Allocation | |||||||||||
| Dividends Paid | 219M | 216M | 202M | 284M | 224M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 7.0% | 14.4% | 7.7% | 6.8% | 10.6% | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -3.8B | -3.0B | -3.0B |
| Cash & Equiv. | 1.7B | 1.8B | 2.7B | 2.8B | 3.1B | 3.2B | 4.8B | 5.8B | 4.3B | 3.3B | 3.3B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 265M |
| Debt/Equity | N/A | N/A | N/A | 1.93 | N/A | N/A | 0.32 | N/A | 0.04 | 0.02 | 0.02 |
| Interest Coverage | -1.5 | -0.3 | 0.9 | 2.3 | 2.4 | 3.6 | 3.4 | 3.8 | 3.9 | 43.6 | 43.6 |
| Equity | 7.1B | 6.7B | 6.9B | 1.4M | 6.6B | 7.6B | 269M | N/A | 11.1B | 11.4B | 11.4B |
| Total Assets | N/A | N/A | N/A | 4.2M | N/A | N/A | 354M | 360M | 17.6B | 17.4B | 17.4B |
| Total Liabilities | N/A | N/A | N/A | 2.8M | N/A | N/A | 85M | N/A | 6.5B | 6.1B | 6.1B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 141M | 129M | 129M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -303M | -169M | -169M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.2M | 2.6M | 2.6M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 307M | 171M | 171M |
| Per Share Data | |||||||||||
| EPS | 0.16 | 0.10 | 0.12 | 0.10 | 0.10 | 0.31 | 0.74 | 1.18 | 0.76 | 0.60 | 0.60 |
| Owner EPS | 0.20 | -0.08 | 0.03 | 0.01 | 0.17 | 0.29 | 0.67 | 1.37 | 0.61 | 0.60 | 0.60 |
| Book Value | 2.81 | 5.31 | 3.82 | 0.00 | 4.59 | 3.35 | 0.11 | N/A | 4.36 | 4.53 | 4.53 |
| Cash Flow/Share | 0.75 | 1.15 | 0.96 | 0.67 | 1.24 | 0.99 | 1.32 | 1.91 | 1.09 | 1.16 | 1.17 |
| Dividends/Share | 0.09 | 0.17 | 0.11 | 0.11 | 0.16 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 2.5B | 1.3B | 1.8B | 2.5B | 1.4B | 2.3B | 2.5B | 2.6B | 2.5B | 2.5B | 2.5B |
| Valuation | |||||||||||
| P/E Ratio | 7.3 | 10.9 | 12.9 | 12.5 | 18.8 | 20.7 | 12.3 | 4.6 | 9.9 | 10.4 | 32.3 |
| P/FCF | N/A | N/A | 10.5 | 3.0 | 2.2 | 11.0 | 14.7 | 6.3 | N/A | 94.7 | 295.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 119.7 | 7.0 | 25.3 |
| Price/Book | 0.4 | 0.2 | 0.4 | N/A | 0.4 | 1.9 | 82.9 | N/A | 1.7 | 1.4 | 4.3 |
| Price/Sales | 0.7 | 0.3 | 0.5 | 0.8 | 0.4 | 1.0 | 2.5 | 1.7 | 2.4 | 2.5 | 6.8 |
| FCF Yield | -0.8% | -99.2% | 9.5% | 33.7% | 44.7% | 9.1% | 6.8% | 16.0% | -0.9% | 1.1% | 0.3% |
| Market Cap | 2.9B | 1.4B | 2.8B | 3.1B | 2.8B | 14.8B | 22.3B | 13.8B | 19.3B | 15.7B | 49.0B |
| Avg. Price | 1.23 | 1.18 | 1.44 | 1.65 | 1.47 | 2.78 | 7.70 | 6.31 | 6.69 | 7.27 | 19.48 |
| Year-End Price | 1.16 | 1.12 | 1.57 | 1.22 | 1.95 | 6.50 | 9.06 | 5.38 | 7.58 | 6.25 | 19.48 |
UNITED MICROELECTRONICS CORP passes 6 of 9 quality checks, suggesting mixed fundamentals.
UNITED MICROELECTRONICS CORP trades at 32.3x trailing earnings, compared to its 15-year median P/E of 11.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 295.4x vs a median of 10.5x. The company's 5-year average ROIC is 29.7% with a gross margin of 33.7%. At current prices, the estimated annualized return to fair value is -34.0%.
UNITED MICROELECTRONICS CORP (UMC) has a net profit margin of 21.0%. This is a strong margin indicating high profitability.
UNITED MICROELECTRONICS CORP (UMC) generated $166 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
UNITED MICROELECTRONICS CORP (UMC) has a debt-to-equity ratio of 0.02. This indicates a conservatively financed balance sheet.
UNITED MICROELECTRONICS CORP (UMC) reported earnings per share (EPS) of $0.60 in its most recent fiscal year.
UNITED MICROELECTRONICS CORP (UMC) has a return on equity (ROE) of 13.7%. This indicates moderate shareholder returns.
UNITED MICROELECTRONICS CORP (UMC) has a 5-year average gross margin of 33.7%. This indicates decent pricing power.
The Ledger Terminal provides 10 years of financial data for UNITED MICROELECTRONICS CORP (UMC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
UNITED MICROELECTRONICS CORP (UMC) has a book value per share of $4.53, based on its most recent annual SEC filing.
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