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 1,930,567 - -
Change - -37.2% 29.5% -17.95% 14.35% 212.21% - -
Enterprise Value (EV) 1 756,830 387,788 606,167 516,566 586,032 1,868,689 1,839,029 1,795,848
Change - -48.76% 56.31% -14.78% 13.45% 218.87% -1.59% -2.35%
P/E 14.2x 5.74x 10.7x 11.3x 14.7x 34.9x 27.4x 20.3x
PBR 2.83x 1.49x 1.81x 1.42x 1.62x 4.97x 4.52x 4.04x
PEG - 0.1x -0.4x -0.5x -1.2x 1x 1x 0.6x
Capitalization / Revenue 3.8x 1.83x 2.96x 2.33x 2.6x 7.07x 5.96x 5.23x
EV / Revenue 3.55x 1.39x 2.72x 2.22x 2.47x 6.84x 5.68x 4.87x
EV / EBITDA 7.66x 2.61x 6.16x 5.18x 5.68x 15.3x 12.5x 10.5x
EV / EBIT 14.6x 3.72x 10.5x 10x 13.3x 32.9x 23.5x 17.6x
EV / FCF 17.9x 5.9x -111x 97x 11.2x 32.8x 23.9x 19.1x
FCF Yield 5.59% 17% -0.9% 1.03% 8.89% 3.04% 4.18% 5.23%
Dividend per Share 2 3 3.6 3 2.85 2.6 2.877 3.577 4.695
Rate of return 4.62% 8.85% 5.7% 6.62% 5.28% 1.84% 2.29% 3.01%
EPS 2 4.57 7.09 4.93 3.8 3.34 4.471 5.687 7.668
Distribution rate 65.6% 50.8% 60.9% 75% 77.8% 64.3% 62.9% 61.2%
Net sales 1 213,011 278,705 222,533 232,303 237,553 273,234 323,863 368,958
EBITDA 1 98,761 148,462 98,375 99,781 103,208 122,519 147,624 171,419
EBIT 1 51,686 104,292 57,891 51,613 43,949 56,779 78,176 101,954
Net income 1 55,780 87,198 60,990 47,211 41,716 56,281 68,769 90,432
Net Debt 1 -53,536 -121,155 -52,902 -24,173 -32,315 -61,878 -91,539 -134,719
Reference price 2 65.00 40.70 52.60 43.05 49.25 156.00 156.00 156.00
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 25/01/22 16/01/23 31/01/24 21/01/25 28/01/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.38x12.6x18.69x0.36% 5,110B
24.17x11.5x15.53x1.06% 1,951B
44.09x18.18x26.76x0.65% 1,903B
13.47x8.2x9.93x0.05% 1,106B
6.73x3.98x4.78x0.26% 1,058B
103.09x18.1x67.71x-.--% 910B
-295.83x9.73x28.95x-.--% 552B
266.98x57.15x120.98x-.--% 345B
40.55x13.86x26.57x1.85% 283B
Average 25.07x 17.03x 35.55x 0.47% 1,469B
Weighted average by Cap. 22.82x 13.63x 24.18x 0.46%

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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