ChipMOS TECHNOLOGIES (8150) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached NT$6,521.1 million, up 6.1% sequentially and 20.8% year-over-year, driven by strong demand for high-value memory solutions in data center and AI applications.

• FY2025 revenue was NT$23,932.9 million, a 5.5% increase year-over-year, with improved product mix and pricing discipline supporting profitability.

• Net profit for 2025 was NT$495.1 million, down 65.1% year-over-year, mainly due to foreign exchange losses and losses from associates.

• Maintained technology and scale leadership while prioritizing growth programs and customer commitments.

• Major customers accounted for 23% and 15% of total revenue, indicating customer concentration.

Financial highlights

• Q4 2025 net profit: NT$500 million; EPS: NT$0.72 per share, up 44% sequentially and 125% year-over-year.

• FY2025 EPS was NT$0.70, down from NT$1.95 in 2024.

• Q4 gross margin: 14.3% (up 1.9 ppts QoQ, up 4.8 ppts YoY); FY2025 gross margin: 10.8%, down 2.2 ppts YoY.

• Cash and equivalents at year-end: NT$14,859 million; net free cash inflow: NT$1,555 million (vs. outflow in 2024).

• Net profit margin fell to 2% in 2025 from 6% in 2024.

Outlook and guidance

• Business momentum expected to remain stable and optimistic into 2026, with normal seasonal softness in Q1 and stronger second half.

• Memory product momentum to outpace DDIC in Q1 and coming quarters; DRAM demand remains strong, while flash momentum slows due to stock adjustments.

• Plan to increase memory OSAT prices in Q1 2026 to offset rising material costs and maintain profitability.

• CapEx to sales ratio for 2026 projected at 22%-27%; depreciation to rise 1%-3% quarterly from Q4 2025 levels.

• Adoption of new IFRS standards in 2025 and upcoming changes in 2026 and 2028 are not expected to significantly impact financial position or performance.