United Microelectronics Corp.
Find Ratings Reports
-0.28 |
-3.20%
UNITED MICROELECTRONICS CORP's gross profit margin for the fourth quarter of its fiscal year 2021 has increased when compared to the same period a year ago. The company has grown sales and net income significantly, outpacing the average growth rates of competitors within its subsector. UNITED MICROELECTRONICS CORP has strong liquidity. Currently, the Quick Ratio is 1.97 which shows the ability to cover short-term cash needs. The company managed to increase its liquidity from the same period a year ago, despite already having strong liquidity to begin with. This would indicate improved cash flow.
At the same time, stockholders' equity ("net worth") has greatly increased by 29.86% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.
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| Income Statement | Q4 FY21 | Q4 FY20 |
|---|---|---|
| Net Sales ($mil) | 2157.57 | 1647.5 |
| EBITDA ($mil) | 1024.02 | 597.51 |
| EBIT ($mil) | 592.44 | 160.6 |
| Net Income ($mil) | 581.98 | 178.83 |
| Balance Sheet | Q4 FY21 | Q4 FY20 |
|---|---|---|
| Cash & Equiv. ($mil) | 6167.11 | 3835.77 |
| Total Assets ($mil) | 16758.92 | 12828.57 |
| Total Debt ($mil) | 3495.68 | 2394.17 |
| Equity ($mil) | 10139.2 | 7807.55 |
| Profitability | Q4 FY21 | Q4 FY20 |
|---|---|---|
| Gross Profit Margin | 58.1 | 49.25 |
| EBITDA Margin | 47.46 | 36.26 |
| Operating Margin | 27.46 | 9.75 |
| Sales Turnover | 0.46 | 0.48 |
| Return on Assets | 12.01 | 6.23 |
| Return on Equity | 19.85 | 10.25 |
| Debt | Q4 FY21 | Q4 FY20 |
|---|---|---|
| Current Ratio | 2.21 | 2.07 |
| Debt/Capital | 0.26 | 0.23 |
| Interest Expense | 18.55 | 15.41 |
| Interest Coverage | 31.94 | 10.42 |
| Share Data | Q4 FY21 | Q4 FY20 |
|---|---|---|
| Shares outstanding (mil) | 2496.6 | 2484.48 |
| Div / share | 0.0 | 0.0 |
| EPS | 0.23 | 0.08 |
| Book value / share | 4.06 | 3.14 |
| Institutional Own % | n/a | n/a |
| Avg Daily Volume | 1.0058438E7 | 8600365.0 |
BUY. UNITED MICROELECTRONICS CORP's P/E ratio indicates a significant discount compared to an average of 29.75 for the Computer and Electronic Product Manufacturing subsector and a significant discount compared to the S&P 500 average of 19.86. For additional comparison, its price-to-book ratio of 1.96 indicates a significant discount versus the S&P 500 average of 3.81 and a significant discount versus the subsector average of 18.55. The price-to-sales ratio is similar to the S&P 500 average, but it is significantly below the subsector average, indicating a discount. Upon assessment of these and other key valuation criteria, UNITED MICROELECTRONICS CORP proves to trade at a discount to investment alternatives.
| Price/Earnings |
|
Price/Cash Flow |
| |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UMC 9.83 | Peers 29.75 | UMC 6.10 | Peers 22.86 | |||||||||||||||||||||
|
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. UMC is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. UMC is trading at a significant discount to its peers. |
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| Price/Projected Earnings |
|
Price to Earnings/Growth |
|
|||||||||||||||||||||
| UMC 8.21 | Peers 20.13 | UMC 0.26 | Peers 1.60 | |||||||||||||||||||||
|
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. UMC is trading at a significant discount to its peers. |
Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. UMC trades at a significant discount to its peers. |
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| Price/Book |
|
Earnings Growth |
|
|||||||||||||||||||||
| UMC 1.96 | Peers 18.55 | UMC 145.45 | Peers 60.74 | |||||||||||||||||||||
|
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. UMC is trading at a significant discount to its peers. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. UMC is expected to have an earnings growth rate that significantly exceeds its peers. |
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| Price/Sales |
|
Sales Growth |
|
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| UMC 2.59 | Peers 6.37 | UMC 24.17 | Peers 23.85 | |||||||||||||||||||||
|
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. UMC is trading at a significant discount to its subsector on this measurement. |
Average. Comparing a company's sales growth to its subsector helps to determine if the company is adding or losing market share. UMC is keeping pace with its peers on the basis of sales growth. |
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