Company Valuation: United Microelectronics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 810,366 508,943 659,069 540,739 618,347 1,572,123 - -
Change - -37.2% 29.5% -17.95% 14.35% 154.25% - -
Enterprise Value (EV) 1 756,830 387,788 606,167 516,566 586,032 1,510,471 1,480,211 1,441,531
Change - -48.76% 56.31% -14.78% 13.45% 157.75% -2% -2.61%
P/E Ratio 14.2x 5.74x 10.7x 11.3x 14.7x 28.6x 23.7x 19.1x
PBR 2.83x 1.49x 1.81x 1.42x 1.62x 3.96x 3.68x 3.42x
PEG - 0.1x -0.4x -0.5x -1.2x 0.9x 1.1x 0.8x
Capitalization / Revenue 3.8x 1.83x 2.96x 2.33x 2.6x 5.77x 5.07x 4.64x
EV / Revenue 3.55x 1.39x 2.72x 2.22x 2.47x 5.55x 4.77x 4.26x
EV / EBITDA 7.66x 2.61x 6.16x 5.18x 5.68x 12.3x 10.5x 9.24x
EV / EBIT 14.6x 3.72x 10.5x 10x 13.3x 27x 20.3x 16.3x
EV / FCF 17.9x 5.9x -111x 97x 11.2x 26.6x 19.3x 15.3x
FCF Yield 5.59% 17% -0.9% 1.03% 8.89% 3.77% 5.19% 6.52%
Dividend per Share 2 3 3.6 3 2.85 2.6 2.898 3.518 4.385
Rate of return 4.62% 8.85% 5.7% 6.62% 5.28% 2.32% 2.81% 3.51%
EPS 2 4.57 7.09 4.93 3.8 3.34 4.366 5.267 6.528
Distribution rate 65.6% 50.8% 60.9% 75% 77.8% 66.4% 66.8% 67.2%
Net sales 1 213,011 278,705 222,533 232,303 237,553 272,306 310,025 338,562
EBITDA 1 98,761 148,462 98,375 99,781 103,208 122,664 141,382 156,019
EBIT 1 51,686 104,292 57,891 51,613 43,949 55,872 72,979 88,168
Net income 1 55,780 87,198 60,990 47,211 41,716 55,268 66,452 82,925
Net Debt 1 -53,536 -121,155 -52,902 -24,173 -32,315 -61,652 -91,912 -130,592
Reference price 2 65.00 40.70 52.60 43.05 49.25 125.00 125.00 125.00
Nbr of stocks (in thousands) 12,467,169 12,504,749 12,529,822 12,560,716 12,555,278 12,576,985 - -
Announcement Date 1/25/22 1/16/23 1/31/24 1/21/25 1/28/26 - - -
1TWD in Million2TWD
Estimates

P/E Ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.4x11.99x17.87x0.38% 4,854B
41.24x16.93x24.91x0.7% 1,770B
15.08x8.73x10.55x0.06% 1,006B
6.8x3.84x4.71x0.25% 955B
83.31x14.65x55.47x-.--% 738B
-306.43x9.34x27.8x-.--% 538B
252.22x54.25x115.01x-.--% 328B
36.69x12.59x24.2x2.04% 257B
74.12x17.37x35.3x-.--% 240B
Average 24.94x 16.63x 35.09x 0.38% 1,187B
Weighted average by Cap. 19.20x 13.26x 23.80x 0.37%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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