United Microelectronics Corp.

Company Background

United Microelectronics is a Taiwanese chipmaker, with assets of around $10 billion. It sells a range of products, including CMOS wafers, memory chips and high-voltage integrated circuits. UMC has over 17,000 employees worldwide and offices in Taiwan, Japan, South Korea, China, Singapore, the U.S. and Europe.

UMC is expanding aggressively overseas. The company bought a 9%, $48 million stake in a subsidiary of Japan's Fujitsu Semiconductor, which owns a Japanese plant that makes 12-inch wafers. UMC has also set up a joint venture with China's Xiamen municipal government and state-owned Fujian Electronics and Information Group to build a semiconductor fabrication plant in Xiamen.

UMC will invest a total of $1.35 billion in the venture over five years, starting in 2015. As part of the plan, the venture purchased a 33% stake in Xiamen-based chipmaker United Semiconductor in January 2015.

UMC was founded in 1980 as Taiwan's first semiconductor company. Yen Po-wen, who joined UMC in 1986, has served as CEO since 2012. Before that, he was senior vice president in charge of 12-inch operations.

Business Summary

United Microelectronics Corp. is engaged in the semiconductor foundry business, which offers complementary metal-oxide semiconductor logic wafers, mixed signal wafers, radio frequency complementary metal-oxide semiconductor wafers, embedded memory products, high voltage integrated circuits, and complementary metal-oxide semiconductor image sensors. The company was founded on May 22, 1980 and is headquartered in Hsinchu, Taiwan.

Financial Highlights

Dec 2022	TWD	USD
Revenue	278,705.26M	9,348.45M
Gross Profit	122,637.34M	4,113.55M
Operating income	98,952.57M	3,319.11M
Income before tax	107,949.00M	3,620.87M
Net income	87,198.29M	2,924.84M
EBITDA	142,855.84M	4,791.73M
Diluted EPS	6.86	0.23
Dividends Per Share	3.60	0.12
Total Assets	533,052.09M	17,343.20M
Total liabilities	195,605.55M	6,364.15M
Total equity	335,107.26M	10,902.93M
Operating cash flow	145,860.52M	4,892.51M
	Currency in TWD	Currency in USD

Historical Data

TWD | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	151,252.57M	148,201.64M	176,820.91M	213,011.01M	278,705.26M
Gross Profit	18,931.55M	18,104.57M	35,222.22M	68,080.35M	122,637.34M
Operating income	680.34M	-492.31M	15,753.51M	46,459.45M	98,952.57M
Income before tax	2,852.10M	4,588.14M	21,258.22M	53,308.36M	107,949.00M
Net income	7,072.99M	9,707.61M	29,189.48M	55,780.25M	87,198.29M
EBITDA	52,556.78M	48,634.96M	64,393.85M	93,265.86M	142,855.84M
Diluted EPS	0.54	0.75	2.34	4.47	6.86
Dividends Per Share	0.58	0.80	1.59	3	3.60
Total Assets	364,604.90M	370,187.36M	377,516.37M	464,426.77M	533,052.09M
Total liabilities	144,419.63M	153,201.96M	135,372.37M	178,776.83M	195,605.55M
Total equity	206,069.72M	206,804.35M	235,659.74M	280,979.70M	335,107.26M
Operating cash flow	50,145.31M	55,498.99M	64,868.31M	90,351.89M	145,860.52M

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	5,015.92M	4,794.19M	6,005.22M	7,626.09M	9,348.45M
Gross Profit	627.81M	585.66M	1,196.22M	2,437.37M	4,113.55M
Operating income	22.56M	-15.92M	535.02M	1,663.31M	3,319.11M
Income before tax	94.58M	148.42M	721.97M	1,908.51M	3,620.87M
Net income	234.55M	314.03M	991.33M	1,997.01M	2,924.84M
EBITDA	1,742.91M	1,573.30M	2,186.95M	3,339.04M	4,791.73M
Diluted EPS	0.01	0.02	0.07	0.16	0.23
Dividends Per Share	0.01	0.02	0.05	0.10	0.12
Total Assets	11,862.08M	12,349.04M	13,435.70M	16,786.30M	17,343.20M
Total liabilities	4,698.56M	5,110.65M	4,817.86M	6,461.73M	6,364.15M
Total equity	6,704.28M	6,898.76M	8,387.06M	10,155.77M	10,902.93M
Operating cash flow	1,662.94M	1,795.34M	2,203.06M	3,234.72M	4,892.51M

Valuation Measures

Dec 2022
PER	5.74
ROA	17.48%
ROE	28.30%
Operating margin	35.50%
Profit margin	31.28%

Key executives

Co-President & Director: Shan Chieh Chien
Co-President & Director: Jason Wang
CFO, Senior VP & Head-Corporate Governance: Chi Tung Liu
Vice President, Deputy GM & General Counsel: Lucas S. Chang
Director-Factory & Vice President: Shian Ho Shen

Shareholders

Hsieh Yung Investment Co. Ltd. (3.5%)
The Vanguard Group, Inc. (2.2%)
Silicon Integrated Systems Corp. (2.2%)
BlackRock Fund Advisors (2.1%)
Yuanta Securities Investment Trust Co., Ltd. (1.9%)
Norges Bank Investment Management (1.4%)
Dimensional Fund Advisors LP (0.8%)
AllianceBernstein LP (0.6%)
BlackRock Advisors (UK) Ltd. (0.6%)
APG Asset Management NV (0.6%)

Contact Details

Website:http://www.umc.com
Address: Hsinchu Science Park, No. 3, Li-Hsin 2nd Road, Hsinchu, 300 78, Taiwan
Phone: +886.3.578.2258

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Competitors

GlobalFoundries Inc.
Intel Corporation
Taiwan Semiconductor Manufacturing Co., Ltd.
Semiconductor Manufacturing International Corp.
Samsung Electronics Co., Ltd.
Hua Hong Semiconductor Ltd.
X-FAB Silicon Foundries SE
DB HiTek Co. LTD
Toshiba Corporation
Tower Semiconductor Ltd
Vanguard International Semiconductor Corp
SkyWater Technology Inc
Hana Micron Inc.
Episil Technologies Inc.
BCnC Co., Ltd.
Kinik Co.
Primarius Technologies Co. Ltd. Class A
Taiwan Speciality Chemicals Corporation

Last Updated on 17 Mar, 2023