United Microelectronics (UMC) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached NT$59.13 billion (US$1.94 billion), up 0.6% sequentially and down 2.2% year-over-year.

• Net income attributable to shareholders was NT$14.98 billion (US$492 million), a 68.3% increase from the previous quarter and up 3.5–4% year-over-year.

• EPS for Q3 2025 was NT$1.20, up from NT$0.71 in Q2 2025.

• Wafer shipments increased 3.4% sequentially, with capacity utilization rising to 78%.

• 22/28nm technologies contributed 35% of wafer revenue, with 22nm alone exceeding 10% of total sales.

Financial highlights

• Gross margin for Q3 2025 was 29.8%, up from 28.7% in Q2 2025; net income nearly NT$15 billion.

• Operating income for Q3 2025 was NT$11.12 billion, a 2.8% increase sequentially.

• Year-to-date revenue grew 2.2% year-over-year to NT$175.7 billion; net income for the nine months was NT$31.54 billion, down 18.4% year-over-year.

• Cash and cash equivalents at quarter-end were NT$104.22 billion; total equity at NT$361.2 billion.

• Depreciation expense up over 20% in 2025, expected to slow to low teens in 2026.

Outlook and guidance

• Q4 2025 wafer shipments expected to remain flat; ASP in USD to stay firm.

• Gross margin projected in the high 20% range; utilization rate in the mid-70% range.

• 2025 shipment growth expected in the low teens, driven by 22nm and specialty technologies.

• Double-digit year-over-year growth in 22/28nm revenue anticipated for 2026.

• 2025 CAPEX budget set at US$1.8 billion, with 90% allocated to 12-inch capacity.