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 due to higher non-operating expenses and FX losses.

• Focused on strategic customer relationships, margin expansion, and long-term shareholder value, while maintaining disciplined capital spending.

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

Financial highlights

• Q4 2025 EPS was NT$0.72, up 44% sequentially and 125% year-over-year; FY2025 EPS was NT$0.70, down from NT$1.95 in 2024.

• Q4 2025 gross margin: 14.3% (up 1.9 ppts QoQ, up 4.8 ppts YoY); FY2025 gross margin: 10.8%, down 2.2 ppts YoY.

• Q4 2025 operating profit margin: 9.7% (up 3.7 ppts QoQ, up 7.5 ppts YoY); FY2025 operating profit margin: 4.8%, down 0.8 ppts YoY.

• Free cash inflow for 2025: NT$1,554.8 million, reversing a net 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.

• 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.