Unternehmensübersicht
United Microelectronics Corporation operates globally as a specialized semiconductor wafer foundry, manufacturing and selling integrated circuits across facilities in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. Within the technology sector, the company functions specifically in the semiconductors industry, providing essential backend and design support services for mobile and wireless communications applications. The organization employs a workforce of 20,000 individuals and maintains a substantial market capitalization of $22.51 billion, supported by a trailing twelve-month revenue base of $237.55 billion. These financial figures, particularly the high annual revenue relative to the market cap, indicate a mature industrial scale where the company generates significant top-line volume, suggesting a dominant position in the global foundry market with extensive operational reach.
Finanzielle Gesundheit
The company reports a trailing twelve-month revenue of $237.55 billion, net income of $41.72 billion, and EBITDA of $100.67 billion, highlighting a specific cost structure where operating expenses and taxes account for a significant portion of total revenue before arriving at net income. Free cash flow stands at $37.75 billion, which signifies robust financial flexibility allowing the firm to fund capital expenditures, service debt obligations, and potentially pursue strategic acquisitions without compromising liquidity. Profitability metrics reveal a gross margin of 29.0%, an operating margin of 19.8%, and a profit margin of 17.6%, indicating that the company retains a substantial amount of revenue after covering the direct costs of manufacturing and general administrative expenses. On the balance sheet, cash holdings of $128.37 billion significantly exceed total debt of $78.97 billion, while the debt-to-equity ratio of 20.79 reflects a capital structure that relies heavily on equity financing rather than debt leverage. Liquidity is further supported by a current ratio of 2.34, demonstrating that the company possesses more than twice the current assets necessary to cover its short-term liabilities. Return metrics show a return on equity of 11.0% and a return on assets of 4.8%, revealing that management generates a higher yield on shareholders' equity compared to the total asset base, which is typical for capital-intensive industries like semiconductors.
Bewertungsanalyse
Valuation multiples indicate a trailing P/E ratio of 17.06 compared to a forward P/E of 11.82, suggesting that the market expects earnings to grow significantly in the future to justify the lower forward multiple relative to current profitability. The price-to-book ratio is 9.40, implying that the stock trades at a substantial premium to its book value, which often reflects the high intangible value of intellectual property and the scarcity of foundry capacity. Alternative valuation metrics such as the price-to-sales ratio of 0.09 and an EV/EBITDA of 0.62 suggest that traditional multiples may appear distorted or that the market is pricing in extreme future growth expectations that are not immediately reflected in current sales or earnings. The stock has a 52-week high of $12.68 and a 52-week low of $5.71, with the current price position relative to this range requiring calculation based on the prevailing market price to determine the percentage distance from these extremes. A beta of 1.00 indicates that the stock's price volatility generally moves in tandem with the broader market, neither amplifying nor dampening market fluctuations significantly.
Growth & Income
Revenue growth over the last year stands at 2.4%, while earnings growth reaches 18.2%, indicating that earnings are expanding at a rate substantially faster than revenue, which implies improving operational efficiency or favorable pricing power. As a dividend payer, the company offers a dividend yield of 5.5% with a payout ratio of 85.1%, representing a high level of distribution relative to current earnings that must be monitored for sustainability given the cyclical nature of the semiconductor industry. The high payout ratio suggests that a large majority of generated profits are returned to shareholders rather than being retained for reinvestment, contrasting with growth-stage firms that typically reinvest earnings into capacity expansion. The overall growth and income profile presents a hybrid characteristic where significant cash returns are provided through dividends alongside modest revenue expansion and accelerating earnings per share.