Powertech Technology (6239) Q4 2025 earnings summary

Executive summary

• 4Q25 revenue reached NT$21.4B, up 7.2% QoQ and 25.2% YoY, with gross margin at 18.6% and EPS at NT$2.52, both showing strong sequential and annual growth.

• 2025 full-year revenue was NT$74.9B, up 2.2% YoY, but net income and EPS declined 15% and 17.7% YoY, respectively, due to margin compression.

• Net sales reached NT$49,916,940 thousand in 2025, up 5.5% YoY, but net income declined 18.4% to NT$5,535,968 thousand due to higher costs and lower gross margin.

• Gross profit margin decreased from 17% to 14% YoY, reflecting increased cost of revenue and operating expenses.

• Earnings per share dropped to NT$7.48 (basic) from NT$9.09 in 2024.

Financial highlights

• 4Q25 net income was NT$2.33B, up 14.6% QoQ and 21% YoY; operating income rose 12.6% of revenue.

• Gross margin improved to 18.6% in 4Q25, up 2.5ppts QoQ and 0.3ppts YoY.

• Full-year 2025 gross margin was 17.0%, down 2.1ppts YoY; net worth per share at year-end was NT$74.15.

• Operating income fell 26.6% YoY to NT$3,417,685 thousand.

• Total assets increased to NT$101,719,965 thousand, and equity rose to NT$56,290,777 thousand as of December 31, 2025.

Outlook and guidance

• Revenue expected to rise in 1Q26 and beyond, driven by memory super cycle, AI demand, and tight production capacity.

• DRAM demand for data centers and AI applications remains strong; NAND and SSD backend demand resilient, with a mild off-season in 1Q26 and further momentum in 2Q26.

• Logic packaging to benefit from high-end FC_BGA demand and high capacity utilization; FOPLP mass production targeted for 2027.

• Proposed cash dividend for 2025 is NT$4.5 per share, pending shareholder approval.

• The company continues to invest heavily in capacity expansion and equipment purchases to meet future demand.