UMC Stock Analysis: United Microelectronics | NYSE
Semiconductors | NYSE, USA | Market Cap: 48.152m USD | 12M Return: 183.5% | US9108734057 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 320M
EPS Trend: -20.7%
Qual. Beats: 2
Rev. Trend: 80.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
United Microelectronics Corporation (NYSE: UMC) is a Taiwan-based semiconductor wafer foundry incorporated in 1980 and headquartered in Hsinchu City. The company manufactures and sells integrated circuits, providing end-to-end services including circuit design, mask tooling, wafer fabrication, and assembly and testing. It serves clients across communication devices, consumer electronics, and computer applications, with operations spanning Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and other international markets. Beyond its core foundry business, UMC also offers venture capital and marketing support, consulting, solar engineering design, R&D, and insurance services.
UMC operates within the semiconductor foundry segment of the Information Technology sector, a pure-play manufacturing model in which the company fabricates chips designed by external fabless clients rather than selling its own branded products. Its Hsinchu City headquarters places it within Taiwans Hsinchu Science Park, a long-established hub that anchors the global semiconductor supply chain alongside other major foundries based in the region.
- Mature node pricing weakens amid SMIC competition and oversupply
- Capacity utilization improves as smartphone and PC inventory corrects
- Oregon fab expansion supported by CHIPS Act subsidy approvals
| Net Income: 83.5b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 3.18 > 1.0 |
| NWC/Revenue: 49.44% < 20% (prev 35.70%; Δ 13.74% < -1%) |
| CFO/TA 0.16 > 3% & CFO 109b > Net Income 83.5b |
| Net Debt (-87.2b) to EBITDA (156b): -0.56 < 3 |
| Current Ratio: 2.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.51b) vs 12m ago -0.30% < -2% |
| Gross Margin: 30.60% > 18% (prev 29.94%; Δ 0.67% > 0.5%) |
| Asset Turnover: 41.30% > 50% (prev 43.33%; Δ -2.03% > 0%) |
| Interest Coverage Ratio: 61.23 > 6 (EBIT TTM 93.1b / Interest Expense TTM 1.52b) |
| A: 0.19 (Total Current Assets 230b - Total Current Liabilities 106b) / Total Assets 666b |
| B: 0.33 (Retained Earnings 217b / Total Assets 666b) |
| C: 0.15 (EBIT TTM 93.1b / Avg Total Assets 607b) |
| D: 2.00 (Book Value of Equity 444b / Total Liabilities 222b) |
| Altman-Z'' = 5.41 = AAA |
| DSRI: 1.13 (Receivables 41.0b/34.3b, Revenue 251b/237b) |
| GMI: 0.98 (GM 29.94% / 30.60%) |
| AQI: 1.64 (AQ_t 0.25 / AQ_t-1 0.15) |
| SGI: 1.06 (Revenue 251b / 237b) |
| TATA: -0.04 (NI 83.5b - CFO 109b) / TA 666b) |
| Beneish M = -2.52 (Cap -4..+1) = A |
As of August 10, 2026, the stock is trading at USD 18.72 with a total of 11,149,503 shares traded. Over the past week, the price has changed by -1.63%, over one month by -24.70%, over three months by +22.19% and over the past year by +183.47%.
Current recommended Stop Loss: 16.70 (which is 10.8% or 1.3 ATR below the current price).
United Microelectronics has received a consensus analysts rating of 2.00. Therefore, it is recommended to sell UMC.
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 3
- StrongSell: 1
| Analysts Target Price | 18.5 | -1.2% |
Market Cap TWD = 1552b (48.2b USD * 32.238 USD.TWD)
P/E Trailing = 19.0099
P/E Forward = 18.4843
P/S = 0.1921
P/B = 3.7672
P/EG = 1.0392
Revenue TTM = 251b TWD
EBIT TTM = 93.1b TWD
EBITDA TTM = 156b TWD
Long Term Debt = 45.6b TWD (from longTermDebt, last quarter)
Short Term Debt = 3.45b TWD (from shortTermDebt, last quarter)
Debt = 60.2b TWD (from shortLongTermDebtTotal, last quarter) + Leases 5.92b
Net Debt = -87.2b TWD (calculated: Debt 60.2b - CCE 147b)
Enterprise Value = 1465b TWD (1552b + Debt 60.2b - CCE 147b)
Interest Coverage Ratio = 61.23 (Ebit TTM 93.1b / Interest Expense TTM 1.52b)
EV/FCF = 24.50x (Enterprise Value 1465b / FCF TTM 59.8b)
FCF Yield = 4.08% (FCF TTM 59.8b / Enterprise Value 1465b)
FCF Margin = 23.86% (FCF TTM 59.8b / Revenue TTM 251b)
Net Margin = 33.29% (Net Income TTM 83.5b / Revenue TTM 251b)
Gross Margin = 30.60% ((Revenue TTM 251b - Cost of Revenue TTM 174b) / Revenue TTM)
Gross Margin QoQ = 32.48% (prev 29.19%)
Tobins Q-Ratio = 2.20 (Enterprise Value 1465b / Total Assets 666b)
Interest Expense / Debt = 2.52% (Interest Expense 1.52b / Debt 60.2b)
Taxrate = 9.45% (8.69b / 92.0b)
NOPAT = 84.3b (EBIT 93.1b * (1 - 9.45%))
Current Ratio = 2.17 (Total Current Assets 230b / Total Current Liabilities 106b)
Debt / Equity = 0.14 (Debt 60.2b / totalStockholderEquity, last quarter 444b)
Debt / EBITDA = -0.56 (Net Debt -87.2b / EBITDA 156b)
Debt / FCF = -1.46 (Net Debt -87.2b / FCF TTM 59.8b)
Total Stockholder Equity = 398b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.75% (Net Income 83.5b / Total Assets 666b)
RoE = 20.98% (Net Income TTM 83.5b / Total Stockholder Equity 398b)
RoCE = 20.99% (EBIT 93.1b / Capital Employed (Equity 398b + L.T.Debt 45.6b))
RoIC = 15.31% (NOPAT 84.3b / Invested Capital 551b)
WACC = 9.85% (E(1552b)/V(1613b) * Re(10.14%) + D(60.2b)/V(1613b) * Rd(2.52%) * (1-Tc(0.09)))
Discount Rate = 10.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -30.84 | Cagr: -0.13%
[DCF] Terminal Value 73.28% ; FCFF base≈48.6b ; Y1≈55.7b ; Y5≈82.0b
[DCF] Fair Price = 424.0 (EV 976b - Net Debt -87.2b = Equity 1063b / Shares 2.51b; r=9.85% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -20.71 | EPS CAGR: -5.10% | SUE: 4.0 | # QB: 2
Revenue Correlation: 80.05 | Revenue CAGR: 3.23% | SUE: 0.08 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.12 | Chg30d=-27.65% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=0.92 | Chg30d=+32.68% | Revisions=-25% | GrowthEPS=+72.6% | GrowthRev=+19.3%
EPS next Year (2027-12-31): EPS=0.88 | Chg30d=+7.71% | Revisions=-25% | GrowthEPS=-4.4% | GrowthRev=+20.6%
[Analyst] Revisions Ratio: -50% (up=0, down=3)