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UMC

TAI:2303 · TW0002303005
Semiconductors & Semiconductor EquipmentLarge

360

73
EV / EBIT57
Price / Owner Earnings53
Owner Earnings Yield82
Dividend Yield75
Price/Sales25
EV / Gross Profit54
Price/Book47
Return on Capital44
Cash Return on Capital70
Return on Equity50
EBIT Margin62
Gross Profitability21
Cash Conversion66
Accruals39
Owner Earnings Margin84
Sales growth49
Profit Growth85
Long-Term EPS Growth22
Owner Earnings Growth80
Reinvestment37
Price momentum71
Debt load69
Refinancing41
Debt Payback100
Liquidity58
Analyst ratings5
Opinion Changes48
Price Target Upside1
Market mood30
Value Creation16/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

UMC generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryTaiwan
IndustrySemiconductors & Semiconductor Equipment
SizeLarge
TypePublic Company
ExchangeTWSE
Founded1980
Employees1,892
Websiteumc.com
ISINTW0002303005
Last UpdateApr 2, 2026
Indices
FTSE Taiwan Index (Taiwan)
Themes
Detectors, Sensors and MemsConsumer ElectronicsElectronics

Description

United Microelectronics Corporation (‘UMC’) operates as an independent semiconductor foundry and a company in semiconductor manufacturing process technologies worldwide. The company’s primary business is the manufacture, or ‘fabrication’, of semicon…

Analysis

Middle-of-the-road

United Microelectronics Corporation sits in the middle of our grid: average quality, average price, no obvious signal in either direction.

On valuation, the picture is expensive. The owner-earnings multiple stands at 26.0×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 10% a year, against analyst forecasts of 15%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is sturdy. The company scores 16/20 on our value-creation score: strong value creator.

No flags apply to this company at this time: accounts, balance sheet, and cash quality all pass. A clean bill of health is meaningful, not just the absence of a warning. This analysis describes numbers; it is not investment advice.

360° rank · history

1007550250
48
2023202420252026

All-time high

81

Feb 2026

All-time low

21

Jan 2023

Average rank

46

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
25
51
47
27
Price/Earnings
34
83
92
57
Price/Book
47
66
62
52
Dividend Yield
75
98
97
78
Value (overall)
39
87
81
47

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →