United Microelectronics (UMC) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached NT$61,810 million, up 4.5% sequentially and 2.4% year-over-year, with gross margin at 30.7% and net income of NT$10,055 million; EPS was NT$0.81.

• Full-year 2025 revenue grew 2.3% year-over-year to NT$237,553 million, with net income at NT$41,716 million and EPS of 3.34, down from 3.8 in 2024.

• Wafer shipments increased 12.3% and USD revenue rose 5.3% year-over-year in 2025.

• 22 nm and 28 nm technologies were key growth drivers, representing 35–36% of Q4 revenue.

Financial highlights

• Q4 gross margin improved to 30.7%, with gross profit of NT$18,950 million.

• Utilization rate held steady at 78% in Q4.

• Cash and cash equivalents at year-end were NT$110,660 million; total equity stood at NT$379,855 million.

• Blended ASP remained stable throughout 2025.

Outlook and guidance

• Q1 2026 wafer shipments expected to remain flat, with ASP in USD firm and gross margin in the high 20% range.

• Capacity utilization projected in the mid-70% range for Q1 2026.

• 2026 CapEx budget set at $1.5 billion USD, with 90% allocated to 12" and 10% to 8" fabs.

• Management expects 2026 to be another growth year, driven by 22 nm tape-outs and new solutions.