Projected Income Statement: United Microelectronics Corporation

Forecast Balance Sheet: United Microelectronics Corporation

Forecast Balance Sheet - United Microelectronics Corporation
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -53,536 -121,155 -52,902 -24,173 -32,315 -71,573 -88,148 -125,111
Change - -126.31% 56.34% 54.31% -33.68% -121.49% -23.16% -41.93%
Announcement Date 1/25/22 1/16/23 1/31/24 1/21/25 1/28/26 - - -
1TWD in Million
Estimates

Cash Flow Forecast: United Microelectronics Corporation

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 48,035 80,128 91,474 88,544 47,745 67,999 79,056 69,764
Change - 66.81% 14.16% -3.2% -46.08% 42.42% 16.26% -11.75%
Free Cash Flow (FCF) 1 42,317 65,733 -5,474 5,328 52,119 71,611 76,450 110,951
Change - 55.33% -108.33% 197.33% 878.21% 37.4% 6.76% 45.13%
Announcement Date 1/25/22 1/16/23 1/31/24 1/21/25 1/28/26 - - -
1TWD in Million
Estimates

Forecast Financial Ratios: United Microelectronics Corporation

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 46.36% 53.27% 44.21% 42.95% 43.45% 45.48% 48.58% 50.75%
EBIT Margin (%) 24.26% 37.42% 26.01% 22.22% 18.5% 23% 27.9% 30.31%
EBT Margin (%) 29.01% 38.07% 31.87% 24.2% 20.9% 36.57% 29.25% 31.09%
Net margin (%) 26.19% 31.29% 27.41% 20.32% 17.56% 32.95% 24.84% 26.08%
FCF margin (%) 19.87% 23.59% -2.46% 2.29% 21.94% 25.28% 21.78% 27.34%
FCF / Net Income (%) 75.86% 75.38% -8.98% 11.29% 124.94% 76.71% 87.66% 104.83%

Profitability

        
ROA 13.25% 17.48% 11.17% 8.36% 7.26% 14.95% 12.87% 13.88%
ROE 21.6% 28.31% 17.57% 12.81% 11.01% 21.86% 19.6% 22.05%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 22.55% 28.75% 41.11% 38.12% 20.1% 24% 22.52% 17.19%
CAPEX / EBITDA (%) 48.64% 53.97% 92.99% 88.74% 46.26% 52.78% 46.36% 33.87%
CAPEX / FCF (%) 113.51% 121.9% -1,671.06% 1,661.86% 91.61% 94.96% 103.41% 62.88%

Items per share

        
Cash flow per share 1 7.395 11.85 6.952 7.548 7.999 10.97 12.14 15.57
Change - 60.28% -41.35% 8.57% 5.97% 37.1% 10.75% 28.17%
Dividend per Share 1 3 3.6 3 2.85 2.6 3.843 4.796 5.653
Change - 20% -16.67% -5% -8.77% 47.8% 24.8% 17.88%
Book Value Per Share 1 23 27.23 29.04 30.39 30.42 34.58 37.66 41.96
Change - 18.41% 6.64% 4.64% 0.1% 13.69% 8.9% 11.42%
EPS 1 4.57 7.09 4.93 3.8 3.34 7.236 7.235 8.642
Change - 55.14% -30.47% -22.92% -12.11% 116.65% -0.01% 19.45%
Nbr of stocks (in thousands) 12,467,169 12,504,749 12,529,822 12,560,716 12,555,278 12,576,985 12,576,985 12,576,985
Announcement Date 1/25/22 1/16/23 1/31/24 1/21/25 1/28/26 - - -
1TWD
Estimates
2026 *2027 *
P/E 17.3x 17.3x
PBR 3.63x 3.33x
EV / Sales 5.32x 4.25x
Yield 3.06% 3.82%

EPS & Dividend

EPS & Dividend - United Microelectronics Corporation


Y-o-Y evolution of P/E

Valuation ratios - P/E - United Microelectronics Corporation
 

Year-on-year evolution of the Yield

Valuation ratios - Yield - United Microelectronics Corporation
Trader
Investor
Global
Quality
ESG MSCI
-
MarketScreener Ratings - United Microelectronics Corporation
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
125.50TWD
Average target price
145.70TWD
Spread / Average Target
+16.10%

Quarterly revenue - Rate of surprise

Rate of surprise - Net sales - Quarterly - United Microelectronics Corporation
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