What does UMC do and what are its main business segments?

What guidance did UMC's management provide for the next earnings period?

What is UMC's gross profit margin?

What is the market's earnings forecast for UMC next quarter?

What is the revenue and EPS growth rate for UMC year over year?

Did UMC beat or miss consensus estimates last quarter?

What factors drove the changes in UMC's revenue and profit?

What is UMC's latest dividend and current dividend yield?

- **Revenue Growth**: Q4 2025 revenue TWD 61.81B (30.7% GM), full-year TWD 237.5B. 22nm revenue up 31% QoQ, 22nm/28nm share 36%.
- **AI-Driven Outlook**: 2026 foundry market +low 20%, UMC to outperform with 22nm tape-outs. Singapore expansion and U.S. partnerships to drive growth.
- **Q1 2026 Guidance**: Flat shipments, high 20% GM, utilization mid-70s. Advanced packaging to contribute >20 tape-outs in 2026.
- **Strategic Tech**: Specialty tech (embedded HV, NVM) 50% of revenue. Silicon photonics pluggable products ramping 2026.
- **Pricing Dynamics**: 2026 ASPs more favorable, with selective price increases and discounts to gain share.


**【CEO Summary Section】**
- **Revenue Growth and AI Momentum**: Q4 2025 revenue of TWD 61.81 billion (30.7% gross margin) driven by 22nm revenue up 31% QoQ. Full-year revenue TWD 237.5 billion, with 22nm/28nm revenue share +3ppt to 36%. 2026 outlook: AI-related demand to outpace foundry market (low 20% growth), with 22nm tape-outs accelerating.
- **Strategic Expansion**: Singapore Fab 12i (Phase III) operational, supporting diversification. U.S. partnerships include Intel 12nm collaboration (tape-outs 2027) and Polar Semiconductor MoU. 2026 CapEx USD 1.5B.
- **Q1 2026 Guidance**: Flat wafer shipments, high 20% gross margin, utilization mid-70s. Advanced packaging (2.5D/3D) to contribute >20 new tape-outs in 2026, with significant 2027 revenue.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Net income TWD 10.06B (EPS 0.81), full-year net income TWD 41.7B (EPS 3.34). Full-year gross margin 29%, down from 2024 due to ASP stability vs. cost inflation.
- **Balance Sheet Strength**: Cash >TWD 110B, equity TWD 379.8B. 2026 depreciation ~low teens YoY increase, peaking in 2026-2027.
- **Market Share**: North America revenue share 21% (down from 25% in 2024), IDM share 19% (up 3ppt). Specialty tech (embedded HV, NVM) accounts for 50% revenue.

**【Q&A Key Highlights】**
- **Pricing Environment**: 2026 ASPs more favorable due to product mix (22nm growth), with some customers seeing price increases, others discounts for market share. Overall pricing strategy anchored to value delivery.
- **Advanced Packaging**: >10 customers engaged, 20+ new tape-outs in 2026. Interposer capacity ramp aligned with 2027 customer demand. Combining with silicon photonics (12-inch PIC pluggable products ramping 2026) for high-bandwidth applications.
- **Memory Impact**: No current demand impact from memory price hikes, as customers focus on high-end products. Monitoring situation but no immediate headwinds.
- **Geographic Strategy**: Singapore Fab 12i ramping H2 2026, U.S. partnerships to diversify supply chain. Xiamen fab at full utilization, supporting local customers.


United Microelectronics Corporation (UMC) Q4 2025 Earnings Call Transcript

- **Q3 2025 Strong Performance**: Revenue TWD 59.13 billion (+2.2% YoY), gross margin 29.8%, North America share +5ppt to 25%. 22nm/28nm revenue 35%.
- **2026 Growth Drivers**: 22nm/28nm +double digits, 8-inch PMIC high single-digit growth, 12nm U.S. fab ramping Q1 2026.
- **Geopolitical Mitigation**: Diversified fabs (Taiwan/Singapore/U.S.), customer LTA commitments, 2026 CapEx $1.8 billion.
- **Margin Stability**: High 20% gross margin target, mid-70% utilization, 2026 depreciation growth slowing.

**【CFO Financial Commentary】**
- Q3 2025 revenue: TWD 59.13 billion (78% wafer shipment utilization), gross margin 29.8%, net income TWD 14.98 billion (EPS TWD 1.2). Year-over-year, first 3Q revenue +2.2% to TWD 175.7 billion, net income EPS -26% YoY.
- Key trends: North America revenue share +5ppt to 25%, 22nm/28nm revenue 35%, 40nm/65nm stable at 17%/18%. Cash >TWD 100 billion, 2025 CapEx $1.8 billion (90% 12-inch).

**【CEO Strategic Update】**
- Q3 wafer shipment growth 3.4%, 22nm revenue >10% of total, 55nm BCD platform launched for automotive/industrial. Q4 2025 shipment flat, 2025 shipment growth low teens.
- 2026 outlook: 22nm/28nm revenue +double digits, 8-inch PMIC growth high single-digit, 12nm FinFET collaboration with Intel in U.S. (tape-out 2027). Gross margin high 20% range, utilization mid-70%.

**【Q&A Highlights】**
- **Demand & Pricing**: ASP firm, 22nm/28nm growth drivers, 8-inch PMIC recovery. Q4 2025 shipment flat, 2026 shipment growth cautious due to geopolitical risks.
- **Cost & Margin**: Depreciation +20% YoY, but ASP resilience offsets FX headwinds. 2026 depreciation growth slows, supporting margin stability.
- **Geopolitical Risks**: U.S. tariff uncertainty, but UMC's diversified fabs (Taiwan/Singapore/U.S.) and customer engagement mitigate risks. 12nm U.S. fab ramping Q1 2026.
- **Advanced Packaging**: 2.5D Interposer (6K wafers) transitioning to DTC for AI/HPC, 2026-2027 ramp. Wafer-to-wafer stacking in RFIC mass production.

United Microelectronics Corporation (UMC) Q3 2025 Earnings Call Transcript

- **Q2 Growth**: Revenue +1.6% QoQ to TWD 58.8B, net income +15.1% to TWD 8.9B. 22/28nm revenue at record 40%.
- **FX Impact**: Gross margin 28.7% (3% FX drag). Q3 NT$ revenue fully exposed to FX fluctuations.
- **Tech Leadership**: Specialty 22/28nm solutions win share in communications. Singapore fab expansion on track for 2026 ramp.
- **Margin Path**: Depreciation growth to peak in 2025, slowing in 2026+. ASP resilience via tech differentiation.
- **Risks**: Geopolitical uncertainty, macroeconomic headwinds, FX volatility.

**【CFO Financial Summary】**
- Q2 2025 revenue: TWD 58.8 billion (+1.6% QoQ), gross margin 28.7% (3% FX impact). Net income: TWD 8.9 billion (+15.1%), EPS: TWD 0.71 (+14.5% QoQ). Wafer shipments: 967,000 (+6.3% QoQ). Utilization rate: 76% (vs. 69% Q1). CapEx 2025: USD 1.8 billion unchanged.
- H1 2025 revenue: TWD 116 billion (+4.7% YoY). Gross margin: 27.7% (vs. 33.1% 2024). Net income: TWD 16.7 billion, EPS: TWD 1.34.
- Advanced tech revenue: >50% (22/28nm: 40% of total). ASP up slightly due to product mix.

**【President's Operational Update】**
- Q2 wafer shipment growth driven by communications (WiFi, NAND controllers) and imaging. 22/28nm revenue at record 40% (both absolute and % terms). Singapore Fab 12i Phase 3 to start production in 2026.
- Q3 guidance: Wafer shipment +low single-digit, NT$ revenue fully exposed to FX. Gross margin ~Q2 levels. Utilization: mid-70s. ASPs to remain firm.
- FX sensitivity: 1% NT$ appreciation reduces gross margin by 0.4-0.5pts. Q2 FX rate: 30.81 vs. Q1 32.89.
- 12nm development with Intel on track, PDK for 2026, tape-out in 2027. Focus on specialty tech (low-power, high-voltage, RF) to differentiate from Chinese competitors.

**【Q&A Highlights】**
- **ASP Outlook**: Near-term ASPs firm due to 22/28nm mix. Long-term focus on tech differentiation. No guidance beyond 2025.
- **FX Risk Management**: Actively hedge FX exposure. 2025 NT$ revenue fully exposed to FX fluctuations.
- **Semiconductor Cycle**: Visibility low due to macro/geopolitical risks. 2025 addressable market growth: low single-digit, UMC to outgrow.
- **Advanced Packaging**: Developing 2.5D interposer, wafer-to-wafer stacking for AI, 5G. Singapore fab to support high-bandwidth applications.
- **China Fabs**: 12X Xiamen at full utilization. No pricing differentiation by location. Focus on specialty tech where Chinese competition is limited.
- **Depreciation Trend**: 2025 YoY increase ~20%, 2026+ growth to slow to single digits as CapEx stabilizes.

United Microelectronics Corporation (UMC) Q2 2025 Earnings Call Transcript

- **Q1 Revenue Resilience**: NT$57.86B (YoY +5.9%), despite one-time price adjustment.
- **Gross Margin Recovery**: Targeting 30% in Q2.
- **22nm Growth Driver**: 37% of revenue, with Singapore P3 ramp in 2026.
- **Intel Collaboration**: 12nm process in Arizona on track for 2026.
- **Tariff Risk**: Uncertainty in H2 demand.


**【CFO Financial Commentary】**
- Q1 2025 revenue: NT$57.86 billion (YoY +5.9%), gross margin 26.7%, net income NT$7.77 billion (EPS NT$0.62). 
- Sequential decline of 4.2% due to one-time price adjustment and earthquake impact, with margin recovery expected in Q2.
- Operating expenses at 10.6% of revenue, stable cost control despite higher depreciation from new fabs.

**【Management Key Messages】**
- Singapore P3 fab to ramp to volume production in early 2026, adding 22nm capacity for supply chain diversification.
- 22nm revenue now 37% of total, driven by OLED, DTV, and IoT applications; 40nm+ nodes account for 53% of revenue.
- Collaboration with Intel on 12nm process in Arizona, with PDK ready for early 2026 and customer engagement underway.

**【Q&A Highlights】**
- Tariff impact: Limited Q2 impact, but long-term could drive diversification of manufacturing locations. UMC focuses on technology differentiation and global fabs.
- Margin outlook: Q2 gross margin expected to return to ~30%, with ongoing cost reduction initiatives to offset depreciation (~20% YoY increase).
- 22nm growth: Customer adoption accelerating, with ~15% of wafer shipments in Q1 and strong pipeline for 2025+.
- Automotive demand: Softness due to inventory correction, while consumer and communication segments show recovery.


United Microelectronics Corporation (UMC) Q1 2025 Earnings Conference Call Transcript

- **Q4 2024 Financials**: Flat revenue at NT$60.4B, 30.4% gross margin, net income NT$8.5B. Full-year 2024 revenue +4.4% YoY to NT$232.3B. 
- **22nm Platform Momentum**: 22nm tape-outs accelerating, targeting 2025+ revenue contribution with 15% power savings vs 28nm. 
- **Q1 2025 Outlook**: Flat wafer shipments, ASP -mid-single-digit, gross margin >25% (impacted by earthquake). 
- **Strategic Initiatives**: Singapore P3 fab on track, 12nm US partnership, advanced packaging expansion to wafer-on-wafer bonding. 
- **Market Growth**: 2025 foundry market +high-teens, UMC targeting outperformance of low-single-digit addressable market.

**【CFO Financial Highlights】**
- Q4 2024 Revenue: NT$60.4 billion (flat QoQ), Gross Margin: 30.4%, Net Income: NT$8.5 billion (EPS: NT$0.68). Full-year 2024 Revenue: +4.4% YoY to NT$232.3 billion, Net Income: NT$47.2 billion (EPS: NT$3.8). 
- Regional Mix: Asia 61% (down 4ppt QoQ), Europe 11% (up 6ppt), North America 25%. Application: Communication 39%, Consumer 29%, Automotive/Industrial 19%. 
- Technology Breakdown: 22/28nm 34% of revenue, 40nm 16%, 14nm 14%. 
- 2025 CapEx: NT$1.8 billion (actual 2024: NT$2.8 billion). 

**【President Strategic Updates】**
- 22nm Specialty Platform: Tape-outs accelerating, targeting 2025+ revenue contribution. 22nm HVM for next-gen networking, display drivers (15% power savings vs 28nm). 
- Advanced Packaging: Expanding beyond 2.5D interposers to wafer-on-wafer bonding, hybrid bonding. Singapore P3 fab on track, 12nm US partnership progressing. 
- 2025 Outlook: Addressable market low-single-digit growth, UMC targeting outperformance. Q1 2025 Guidance: Flat wafer shipments, ASP -mid-single-digit, Gross Margin >25% (impacted by Jan 21 earthquake). 

**【Key Q&A Takeaways】**
- **Gross Margin Challenges**: Q1 2025 margin >25% due to one-time ASP decline, higher depreciation (~20% YoY). Full-year outlook cautious due to elevated depreciation (peaking 2027). 
- **Pricing Strategy**: One-time Q1 2025 adjustment, maintaining differentiation via 22nm/28nm portfolio. LTA renewals under discussion but no structural change. 
- **Geopolitical Risks**: Diversified fab network (Taiwan, Singapore, Japan) mitigates supply chain risks. 12nm US partnership offers migration path beyond 22nm. 
- **AI Growth Drivers**: 2025 foundry market +high-teens, UMC targeting AI server, smartphone, PC AI chip opportunities. 22nm HVM ramping in 2H 2025.

Actual									0.0297	0.0881	0.1231	0.1544	0.1429	0.1647	0.2413	0.2201	0.2561	0.2907	0.3415	0.2541	0.2134	0.2033	0.1987	0.1691	0.1292	0.1693	0.181	0.1038	0.0953	0.1189	0.1954	0.129
Forecast									0.0318	0.0558	0.0689	0.0711	0.0957	0.1344	0.1882	0.2117	0.2422	0.3029	0.3161	0.2601	0.1647	0.1617	0.162	0.1478	0.1311	0.1376	0.1709	0.1426	0.1074	0.1391	0.1281	0.136
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-6.60%	+57.89%	+78.66%	+117.16%	+49.32%	+22.54%	+28.21%	+3.97%	+5.74%	-4.03%	+8.04%	-2.31%	+29.57%	+25.73%	+22.65%	+14.41%	-1.45%	+23.04%	+5.91%	-27.21%	-11.27%	-14.52%	+52.54%	-5.15%

UMC

UMC fundamentals

UMC Q4 2025 Earnings

Earnings Call

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UMC

UMC fundamentals

UMC Q4 2025 Earnings

Earnings Call

UMC Earnings Call Summary for Q4/20254:00 AM on Jan 28, 2026

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UMC Earnings Call Summary for Q2/20255:00 AM on Jul 30, 2025

UMC Earnings Call Summary for Q1/20255:00 AM on Apr 23, 2025

UMC Earnings Call Summary for Q4/20244:00 AM on Jan 21, 2025

You can ask Aime