(UMC) United Microelectronics - Ratings and Ratios
Semiconductor Wafers, Integrated Circuits, Foundry Services, Backend Support, Design Support
Dividends
| Dividend Yield | 6.47% |
| Yield on Cost 5y | 9.01% |
| Yield CAGR 5y | 35.83% |
| Payout Consistency | 73.4% |
| Payout Ratio | 93.9% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 30.5% |
| Value at Risk 5%th | 48.1% |
| Relative Tail Risk | -4.11% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.58 |
| Alpha | 3.62 |
| CAGR/Max DD | 0.20 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.351 |
| Beta | 0.858 |
| Beta Downside | 0.473 |
| Drawdowns 3y | |
|---|---|
| Max DD | 36.00% |
| Mean DD | 11.40% |
| Median DD | 9.97% |
Description: UMC United Microelectronics October 16, 2025
United Microelectronics Corporation (UMC) is a pure-play semiconductor wafer foundry headquartered in Hsinchu, Taiwan, with manufacturing footprints across Asia, the United States and Europe. The firm fabricates integrated circuits for a broad set of end-markets-including mobile/wireless, IoT & wearables, high-performance computing, and automotive-while also offering backend, design-support, and a suite of ancillary services such as venture-capital, consulting, and solar-engineering design.
Key recent metrics (as of Q3 2024) show UMC generating ≈ $2.4 billion in revenue, with gross margins hovering around 38 % and fab capacity utilization near 85 %. The company’s 28 nm and 40 nm process nodes continue to dominate its volume business, capturing roughly 10 % of the global foundry market share in the mature-node segment, while its roadmap to 22 nm and 14 nm is aimed at addressing the growing demand for automotive-grade and AI-edge chips. Macro-level drivers include the ongoing semiconductor supply-chain tightening, the shift toward heterogeneous integration in data-center servers, and the resilience of automotive electronics spending despite broader economic headwinds.
If you want a data-rich, quantitative view of how UMC’s valuation stacks up against peers and the broader market, a quick look at ValueRay’s analyst toolkit can help you surface the most material assumptions and scenario analyses.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income (40.16b TTM) > 0 and > 6% of Revenue (6% = 14.17b TTM) |
| FCFTA 0.08 (>2.0%) and ΔFCFTA 9.06pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 46.83% (prev 46.43%; Δ 0.40pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.18 (>3.0%) and CFO 99.84b > Net Income 40.16b (YES >=105%, WARN >=100%) |
| Net Debt (-28.31b) to EBITDA (103.70b) ratio: -0.27 <= 3.0 (WARN <= 3.5) |
| Current Ratio 2.34 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (2.52b) change vs 12m ago 0.16% (target <= -2.0% for YES) |
| Gross Margin 28.92% (prev 32.69%; Δ -3.77pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 41.80% (prev 39.51%; Δ 2.30pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 28.47 (EBITDA TTM 103.70b / Interest Expense TTM 1.66b) >= 6 (WARN >= 3) |
Altman Z'' 4.80
| (A) 0.20 = (Total Current Assets 192.85b - Total Current Liabilities 82.28b) / Total Assets 555.40b |
| (B) 0.33 = Retained Earnings (Balance) 181.24b / Total Assets 555.40b |
| (C) 0.08 = EBIT TTM 47.23b / Avg Total Assets 564.84b |
| (D) 1.78 = Book Value of Equity 346.07b / Total Liabilities 194.20b |
| Total Rating: 4.80 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 63.23
| 1. Piotroski 6.50pt |
| 2. FCF Yield 8.55% |
| 3. FCF Margin 19.69% |
| 4. Debt/Equity 0.21 |
| 5. Debt/Ebitda -0.27 |
| 6. ROIC - WACC (= 3.13)% |
| 7. RoE 10.95% |
| 8. Rev. Trend -43.82% |
| 9. EPS Trend -79.66% |
What is the price of UMC shares?
Over the past week, the price has changed by +1.21%, over one month by -3.95%, over three months by +13.75% and over the past year by +17.11%.
Is UMC a buy, sell or hold?
- Strong Buy: 1
- Buy: 0
- Hold: 3
- Sell: 2
- Strong Sell: 0
What are the forecasts/targets for the UMC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 6.5 | -14.1% |
| Analysts Target Price | 6.5 | -14.1% |
| ValueRay Target Price | 8.3 | 10.1% |
UMC Fundamental Data Overview November 26, 2025
P/E Trailing = 13.7778
P/E Forward = 11.6279
P/S = 0.0791
P/B = 1.5716
P/EG = 1.3662
Beta = 0.948
Revenue TTM = 236.13b TWD
EBIT TTM = 47.23b TWD
EBITDA TTM = 103.70b TWD
Long Term Debt = 53.76b TWD (from longTermDebt, last quarter)
Short Term Debt = 16.70b TWD (from shortTermDebt, last quarter)
Debt = 75.91b TWD (from shortLongTermDebtTotal, last quarter)
Net Debt = -28.31b TWD (from netDebt column, last quarter)
Enterprise Value = 543.83b TWD (586.96b + Debt 75.91b - CCE 119.04b)
Interest Coverage Ratio = 28.47 (Ebit TTM 47.23b / Interest Expense TTM 1.66b)
FCF Yield = 8.55% (FCF TTM 46.49b / Enterprise Value 543.83b)
FCF Margin = 19.69% (FCF TTM 46.49b / Revenue TTM 236.13b)
Net Margin = 17.01% (Net Income TTM 40.16b / Revenue TTM 236.13b)
Gross Margin = 28.92% ((Revenue TTM 236.13b - Cost of Revenue TTM 167.84b) / Revenue TTM)
Gross Margin QoQ = 29.81% (prev 28.72%)
Tobins Q-Ratio = 0.98 (Enterprise Value 543.83b / Total Assets 555.40b)
Interest Expense / Debt = 0.60% (Interest Expense 454.1m / Debt 75.91b)
Taxrate = -2.05% (negative due to tax credits) (-300.3m / 14.64b)
NOPAT = 48.20b (EBIT 47.23b * (1 - -2.05%)) [negative tax rate / tax credits]
Current Ratio = 2.34 (Total Current Assets 192.85b / Total Current Liabilities 82.28b)
Debt / Equity = 0.21 (Debt 75.91b / totalStockholderEquity, last quarter 361.06b)
Debt / EBITDA = -0.27 (Net Debt -28.31b / EBITDA 103.70b)
Debt / FCF = -0.61 (Net Debt -28.31b / FCF TTM 46.49b)
Total Stockholder Equity = 366.62b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.23% (Net Income 40.16b / Total Assets 555.40b)
RoE = 10.95% (Net Income TTM 40.16b / Total Stockholder Equity 366.62b)
RoCE = 11.24% (EBIT 47.23b / Capital Employed (Equity 366.62b + L.T.Debt 53.76b))
RoIC = 11.33% (NOPAT 48.20b / Invested Capital 425.47b)
WACC = 8.20% (E(586.96b)/V(662.87b) * Re(9.18%) + D(75.91b)/V(662.87b) * Rd(0.60%) * (1-Tc(-0.02)))
Discount Rate = 9.18% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.20%
[DCF Debug] Terminal Value 65.49% ; FCFE base≈46.49b ; Y1≈30.52b ; Y5≈13.96b
Fair Price DCF = 91.19 (DCF Value 228.99b / Shares Outstanding 2.51b; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -79.66 | EPS CAGR: -5.46% | SUE: 2.80 | # QB: 1
Revenue Correlation: -43.82 | Revenue CAGR: 0.01% | SUE: 0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.11 | Chg30d=+0.023 | Revisions Net=+1 | Analysts=2
EPS next Year (2026-12-31): EPS=0.53 | Chg30d=-0.005 | Revisions Net=+0 | Growth EPS=-5.3% | Growth Revenue=+6.4%
Additional Sources for UMC Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle