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2303 · TWSE · Taiwan · Technology
In shortUMC (聯電) is profitable, generates cash and holds more cash than debt, with revenue growing (+2.3% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 18.5% | 78/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 17.6% | 90/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 11.0% | 55/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 8.1% | 54/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.34× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.19× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 27.43× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 5.15 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 21.9% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.25× | 100/100 |
| Years with positive free cash flow (last 5) | 2 of 2 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 2 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 1 | 100/100 |
| Revenue growth volatility | – | n/a |
| Operating margin volatility | 2.6% | 85/100 |
Weight in the score: 20%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 2 fiscal years from the company's annual reports.
TWD millions; negative values in parentheses.
| Fiscal year | FY24 | FY25 |
|---|---|---|
| Revenue | 232,303 | 237,553 |
| Cost of revenue | 156,649 | 168,647 |
| Gross profit | 75,654 | 68,906 |
| Research & development | 15,616 | 17,725 |
| Operating income | 51,613 | 43,949 |
| Interest expense | 1,756 | 1,602 |
| Pre-tax income | 56,220 | 49,648 |
| Income tax | 9,113 | 8,113 |
| Net income | 47,211 | 41,716 |
| Diluted EPS | TWD3.74 | TWD3.31 |
5.15 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: MOPS (mops.twse.com.tw). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated –