SK hynix (000660) Q4 2025 earnings summary

Executive summary

• Achieved record quarterly and annual revenue and operating profit in Q4 and FY2025, driven by strong AI infrastructure investment and surging demand for memory products, especially HBM and server DRAM.

• Strengthened technology leadership with industry-first HBM4 sample shipments and mass production readiness, and advanced DRAM and NAND product developments.

• Maintained strong customer collaboration and trust, especially in HBM4 development and mass production.

Financial highlights

• Q4 2025 revenue: KRW 32.83 trillion, up 34% QoQ and 66% YoY; highest quarterly revenue.

• Q4 operating profit: KRW 19.17 trillion, up 68% QoQ and 137% YoY; operating margin 58%.

• Q4 EBITDA: KRW 22.73 trillion, EBITDA margin 69%.

• Q4 net profit: KRW 15.25 trillion, net margin 46%.

• FY2025 revenue: KRW 97.1 trillion, up 47% YoY; operating profit: KRW 47.2 trillion, up 101% YoY.

Outlook and guidance

• AI-driven demand for high-performance memory expected to remain robust, with server SSD shipments projected to grow by high teens % in 2026.

• DRAM and NAND demand growth in 2026 expected at over 20% and high teens %, respectively.

• CapEx in 2026 to increase considerably, but CapEx-to-revenue ratio to remain in the mid-30% range.

• Plans to expand production base, accelerate tech migration, and ramp up advanced packaging and manufacturing facilities.

• Anticipates continued supply tightness and plans to maximize advanced node production.