ChipMOS TECHNOLOGIES Inc. (IMOS) 10-Year Financial Performance & Capital Metrics

IMOS • • Industrial / General

TechnologySemiconductorsSemiconductor Foundry & Packaging ServicesPackaging & Test Services

AboutChipMOS TECHNOLOGIES INC. engages in the research, development, manufacture, and sale of high-integration and high-precision integrated circuits, and related assembly and testing services in Taiwan, People's Republic of China, Japan, Singapore, and internationally. It operates through Testing; Assembly; Testing and Assembly for LCD, OLED and other Display Panel Driver Semiconductors; Bumping; and Other segments. The company provides a range of back-end assembly and testing services, including engineering test, wafer probing, and final test of memory and logic/mixed-signal semiconductors, as well as leadframe-based and organic substrate-based package assembly services for memory and logic/mixed-signal semiconductors; and gold bumping, reel to reel assembly, and test services for LCD and other panel display driver semiconductors. Its semiconductors are used in personal computers; graphics applications, such as game consoles; communications equipment; mobile products comprising cellular handsets, tablets, and consumer electronic products; and automotive/industry and display applications, such as display panels. The company was incorporated in 1997 and is headquartered in Hsinchu, Taiwan.Show more

Revenue $22.7B +6.3%
EBITDA $6.13B -8.3%
Net Income $1.44B -26.8%
EPS (Diluted) 38.60 -25.2%
Gross Margin 12.97% -22.0%
EBITDA Margin 27.01% -13.7%
Operating Margin 5.61% -37.2%
Net Margin 6.34% -31.2%
ROE 5.77% -27.4%
ROIC 3.58% -27.4%
Debt/Equity 0.61 -5.7%
Interest Coverage 4.57 -36.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 94 (top 6%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 11.7%
✓Trading near 52-week high
✓Trading at only 0.1x book value

✗Weaknesses

✗Profits declining 10.5% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.86%

5Y2.22%

3Y-6.09%

TTM31.16%

Profit (Net Income) CAGR

10Y-8.12%

5Y-10.51%

3Y-33.69%

TTM-79.95%

EPS CAGR

10Y-8.22%

5Y62.56%

3Y-33.79%

TTM-86.4%

ROCE

10Y Avg10.9%

5Y Avg11.57%

3Y Avg5.69%

Latest3.38%

Peer Comparison

Packaging & Test Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AMKRAmkor Technology, Inc.	12.16B	49.20	34.41	-2.85%	4.77%	7.09%	2.84%	0.34
ASXASE Technology Holding Co., Ltd.	41.86B	19.19	1.33	2.32%	5.6%	10.38%	21.75%	0.59
IMOSChipMOS TECHNOLOGIES Inc.	1.37B	39.43	1.02	6.27%	1.08%	1.06%	62.69%	0.61

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	19.87B	18.39B	17.94B	18.48B	20.34B	23.01B	27.4B	23.52B	21.36B	22.7B
Revenue Growth %	-0.05%	-0.07%	-0.02%	0.03%	0.1%	0.13%	0.19%	-0.14%	-0.09%	0.06%
Cost of Goods Sold+	15.78B	14.75B	14.7B	15.05B	16.41B	17.98B	20.15B	18.61B	17.81B	19.75B
COGS % of Revenue	0.79%	0.8%	0.82%	0.81%	0.81%	0.78%	0.74%	0.79%	0.83%	0.87%
Gross Profit+	4.09B	3.64B	3.24B	3.43B	3.93B	5.03B	7.25B	4.91B	3.55B	2.94B
Gross Margin %	0.21%	0.2%	0.18%	0.19%	0.19%	0.22%	0.26%	0.21%	0.17%	0.13%
Gross Profit Growth %	-0.2%	-0.11%	-0.11%	0.06%	0.14%	0.28%	0.44%	-0.32%	-0.28%	-0.17%
Operating Expenses+	1.51B	1.64B	997.25M	1.33B	1.47B	1.47B	1.69B	1.7B	1.64B	1.67B
OpEx % of Revenue	0.08%	0.09%	0.06%	0.07%	0.07%	0.06%	0.06%	0.07%	0.08%	0.07%
Selling, General & Admin	762.11M	894.99M	704.21M	538.52M	554.32M	585.74M	677.96M	666.71M	633.4M	607.29M
SG&A % of Revenue	0.04%	0.05%	0.04%	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%
Research & Development	747.78M	838.87M	985.87M	939.27M	1.01B	1.02B	1.14B	1.16B	1.09B	1.16B
R&D % of Revenue	0.04%	0.05%	0.05%	0.05%	0.05%	0.04%	0.04%	0.05%	0.05%	0.05%
Other Operating Expenses	0	-90.31M	-327.62M	-147.51M	-92.93M	-135.58M	-125.59M	-129.93M	-85.94M	-99.89M
Operating Income+	2.65B	2B	2.24B	2.1B	2.46B	3.57B	5.56B	3.22B	1.91B	1.27B
Operating Margin %	0.13%	0.11%	0.12%	0.11%	0.12%	0.15%	0.2%	0.14%	0.09%	0.06%
Operating Income Growth %	-0.27%	-0.25%	0.12%	-0.06%	0.17%	0.45%	0.56%	-0.42%	-0.41%	-0.33%
EBITDA+	5.67B	5.23B	5.14B	5.48B	6.19B	7.74B	10.2B	7.97B	6.69B	6.13B
EBITDA Margin %	0.29%	0.28%	0.29%	0.3%	0.3%	0.34%	0.37%	0.34%	0.31%	0.27%
EBITDA Growth %	-0.14%	-0.08%	-0.02%	0.07%	0.13%	0.25%	0.32%	-0.22%	-0.16%	-0.08%
D&A (Non-Cash Add-back)	3.02B	3.23B	2.9B	3.38B	3.73B	4.18B	4.63B	4.75B	4.78B	4.86B
EBIT	2.97B	1.84B	1.72B	1.93B	3.19B	3.14B	6.16B	4.17B	2.53B	1.93B
Net Interest Income+	-83.65M	-140.56M	-164.16M	-140.28M	-3.75M	-4.88M	-121.2M	-85.24M	-73.2M	-81.22M
Interest Income	42.97M	38.55M	53.12M	49.97M	2.08M	943.4K	9.98M	57.2M	193.19M	197.72M
Interest Expense	126.62M	144.54M	217.28M	190.25M	5.83M	5.82M	131.18M	142.44M	266.39M	278.94M
Other Income/Expense	220.62M	-298.14M	-707.47M	-317.28M	565.13M	-593.14M	473.2M	811.19M	359.77M	373.12M
Pretax Income+	2.86B	1.7B	1.53B	1.78B	3.02B	2.97B	6.04B	4.03B	2.27B	1.65B
Pretax Margin %	0.14%	0.09%	0.09%	0.1%	0.15%	0.13%	0.22%	0.17%	0.11%	0.07%
Income Tax+	935.86M	177.12M	550.49M	456.62M	513.68M	594.38M	1.1B	588.17M	300.66M	207.52M
Effective Tax Rate %	0.74%	1%	1.98%	0.74%	0.83%	0.8%	0.82%	0.85%	0.87%	0.87%
Net Income+	2.13B	1.71B	3.03B	1.33B	2.51B	2.38B	4.94B	3.44B	1.97B	1.44B
Net Margin %	0.11%	0.09%	0.17%	0.07%	0.12%	0.1%	0.18%	0.15%	0.09%	0.06%
Net Income Growth %	-0.37%	-0.2%	0.77%	-0.56%	0.89%	-0.05%	1.08%	-0.3%	-0.43%	-0.27%
Net Income (Continuing)	1.91B	1.52B	981.93M	1.33B	2.51B	2.38B	4.94B	3.44B	1.97B	1.44B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	56.40	39.40	64.60	27.20	3.40	64.60	133.00	90.80	51.60	38.60
EPS Growth %	-0.38%	-0.3%	0.64%	-0.58%	-0.88%	18%	1.06%	-0.32%	-0.43%	-0.25%
EPS (Basic)	57.20	39.80	66.00	27.40	3.40	65.20	135.80	92.80	52.00	39.00
Diluted Shares Outstanding	37.75M	43.34M	36.79M	40.69M	36.86M	36.85M	37.14M	37.13M	36.75M	36.7M
Basic Shares Outstanding	37.29M	42.98M	42.33M	40.14M	36.81M	36.83M	36.36M	36.36M	36.36M	36.36M
Dividend Payout Ratio	0.39%	1.05%	0.08%	0.19%	0.35%	0.55%	0.32%	0.91%	0.85%	0.91%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	16.02B	16.97B	14.2B	11.89B	392.38M	12.36B	14.52B	18.35B	25.16B	23.64B
Cash & Short-Term Investments	10.21B	7.64B	8.04B	4.81B	162.56M	4.37B	6.3B	10.12B	12.44B	15.33B
Cash Only	10.13B	7.57B	8.04B	4.64B	156.92M	4.11B	5.91B	9.9B	12.35B	15.22B
Short-Term Investments	85.25M	72.28M	0	169.17M	5.64M	259.6M	389.2M	226.96M	83.8M	115.05M
Accounts Receivable	3.94B	4.2B	4.18B	5.25B	168.93M	5.81B	4.87B	4.89B	5.76B	5.49B
Days Sales Outstanding	72.31	83.32	85.08	103.75	3.03	92.08	64.88	75.97	98.36	88.22
Inventory	1.67B	1.88B	1.93B	1.78B	58.97M	2.1B	3.21B	3.21B	2.57B	2.69B
Days Inventory Outstanding	38.57	46.49	47.89	43.14	1.31	42.67	58.11	62.98	52.65	49.79
Other Current Assets	201.17M	3.25B	0	0	0	0	0	0	4.28B	0
Total Non-Current Assets+	14.91B	14.33B	19.06B	21.25B	752.03M	22.72B	26.1B	26.59B	21B	21.74B
Property, Plant & Equipment	14.21B	13.5B	15.27B	16.82B	622.69M	18.85B	21.01B	18.83B	20.18B	21.02B
Fixed Asset Turnover	1.40x	1.36x	1.18x	1.10x	32.66x	1.22x	1.30x	1.25x	1.06x	1.08x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	3.94B	4.2B	4.18B	0	0	21.19M	0	0	0	0
Long-Term Investments	356.23M	379.29M	3.52B	4.15B	119.9M	3.54B	4.28B	4.69B	448.27M	423.23M
Other Non-Current Assets	61.98M	181.69M	35.47M	50.57M	2.94M	120.03M	624.79M	2.91B	211.27M	163.55M
Total Assets+	30.93B	31.3B	33.26B	33.13B	1.14B	35.08B	42.52B	44.94B	46.16B	45.38B
Asset Turnover	0.64x	0.59x	0.54x	0.56x	17.77x	0.66x	0.64x	0.52x	0.46x	0.50x
Asset Growth %	-0.11%	0.01%	0.06%	-0%	-0.97%	29.65%	0.21%	0.06%	0.03%	-0.02%
Total Current Liabilities+	5.92B	4.69B	6.67B	5.19B	163.52M	5.73B	7.41B	6.49B	7.35B	8.74B
Accounts Payable	708.48M	825.06M	688.19M	637.62M	27.34M	2.11B	2.83B	1.97B	784.92M	2.21B
Days Payables Outstanding	16.39	20.42	17.08	15.46	0.61	42.88	51.25	38.58	16.09	40.75
Short-Term Debt	2.7B	1.06B	3.11B	747.42M	25.79M	751.25M	778.6M	1.52B	2.26B	3.67B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	41.06K	1000K	0	0	1000K	0
Other Current Liabilities	-307.64M	741.96M	-81.4M	42.18M	101.35M	34.39M	28.35M	86.08M	2.28B	96.01M
Current Ratio	2.70x	3.62x	2.13x	2.29x	2.40x	2.16x	1.96x	2.83x	3.42x	2.71x
Quick Ratio	2.42x	3.22x	1.84x	1.95x	2.04x	1.79x	1.53x	2.33x	3.07x	2.40x
Cash Conversion Cycle	94.49	109.39	115.89	131.43	3.74	91.88	71.73	100.37	134.93	97.27
Total Non-Current Liabilities+	5.89B	10.36B	8.2B	9.87B	325.35M	8.64B	10.97B	13.81B	13.95B	11.64B
Long-Term Debt	4.99B	9.69B	7.5B	9.04B	276.65M	6.99B	9.37B	12.44B	12.65B	10.43B
Capital Lease Obligations	0	29.31M	18.06M	0	22.3M	737.95M	681.47M	759.45M	813.73M	821.06M
Deferred Tax Liabilities	519.47M	92.54M	174.29M	308.76M	10.2M	310.43M	278.18M	201.74M	122.34M	93.31M
Other Non-Current Liabilities	2.1M	1.4M	479.9M	521.86M	16.2M	533.32M	524.91M	280.81M	248.57M	167.82M
Total Liabilities	11.82B	15.05B	14.87B	15.06B	488.86M	14.36B	18.38B	20.3B	21.31B	20.38B
Total Debt+	7.68B	10.79B	10.64B	9.81B	324.74M	8.61B	11B	14.89B	15.98B	15.16B
Net Debt	-2.44B	3.22B	2.61B	5.16B	167.81M	4.49B	5.09B	4.99B	3.62B	-63.37M
Debt / Equity	0.40x	0.66x	0.58x	0.54x	0.50x	0.42x	0.46x	0.60x	0.64x	0.61x
Debt / EBITDA	1.36x	2.06x	2.07x	1.79x	0.05x	1.11x	1.08x	1.87x	2.39x	2.47x
Net Debt / EBITDA	-0.43x	0.62x	0.51x	0.94x	0.03x	0.58x	0.50x	0.63x	0.54x	-0.01x
Interest Coverage	20.92x	13.83x	10.31x	11.04x	421.37x	612.39x	42.40x	22.58x	7.16x	4.57x
Total Equity+	19.11B	16.25B	18.39B	18.07B	655.54M	20.72B	24.14B	24.64B	24.85B	25B
Equity Growth %	-0.08%	-0.15%	0.13%	-0.02%	-0.96%	30.6%	0.17%	0.02%	0.01%	0.01%
Book Value per Share	506.17	374.89	499.91	444.16	17.79	562.24	649.98	663.55	676.35	681.28
Total Shareholders' Equity	19.11B	16.25B	18.39B	18.07B	655.54M	20.72B	24.14B	24.64B	24.85B	25B
Common Stock	8.96B	8.87B	8.86B	7.53B	242.6M	7.27B	7.27B	7.27B	7.27B	7.27B
Retained Earnings	5.86B	260.99M	3.07B	3.64B	158.77M	5.4B	8.52B	8.51B	8.53B	8.44B
Treasury Stock	0	-1.01B	-1.01B	-962.5M	0	0	0	0	0	0
Accumulated OCI	914.79M	1.44B	1.23B	1.59B	64.89M	1.86B	2.07B	2.58B	3.01B	3.12B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.57B	3.55B	4.75B	4.13B	200.4M	5.94B	7.32B	8.62B	6.61B	5.94B
Operating CF Margin %	0.28%	0.19%	0.26%	0.22%	0.01%	0.26%	0.27%	0.37%	0.31%	0.26%
Operating CF Growth %	-0.05%	-0.36%	0.34%	-0.13%	-0.95%	28.64%	0.23%	0.18%	-0.23%	-0.1%
Net Income	2.86B	1.58B	1.52B	1.78B	3.02B	2.97B	6.04B	4.03B	2.27B	1.65B
Depreciation & Amortization	3.02B	3.23B	2.9B	3.38B	3.73B	4.18B	4.63B	4.75B	4.78B	4.86B
Stock-Based Compensation	158.32M	356.46M	123.02M	41.04M	822K	0	0	0	0	0
Deferred Taxes	-1.27B	-622.3M	-467.01M	0	-7.33B	0	0	0	0	0
Other Non-Cash Items	13.41M	100.57M	128.94M	124.7M	83.99M	-173.41M	-1.34B	-1.78B	-432.61M	-763.43M
Working Capital Changes	775.01M	-1.1B	553.51M	-1.2B	695.81M	-1.04B	-2.01B	1.62B	-7.47M	200.78M
Change in Receivables	1.02B	-480.35M	124.9M	-734.26M	293.5M	-903.01M	-1.04B	2B	-898.34M	280.3M
Change in Inventory	36.97M	-347.13M	-51.26M	-58.1M	11.19M	-334.43M	-1.11B	-3.23M	641.76M	-125.95M
Change in Payables	-366.44M	215.56M	-136.88M	-50.57M	181.93M	170.17M	42.69M	-451.48M	224.47M	-86.43M
Cash from Investing+	-4.5B	-4.42B	-3.26B	-5.13B	-142M	-3.8B	-6.02B	-5.06B	-3.09B	-615.11M
Capital Expenditures	-4.43B	-4.47B	-4.41B	-4.15B	-5.44B	-3.96B	-5.88B	-4.7B	-3.07B	-5.08B
CapEx % of Revenue	0.22%	0.24%	0.25%	0.22%	0.27%	0.17%	0.21%	0.2%	0.14%	0.22%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-589K	59.54M	306.62M	17.5M	-29.68M	162.06M	-331.33M	-298.39M	-61.81M	4.49B
Cash from Financing+	-4.25B	-3.22B	-1.01B	-2.4B	-56.1M	-2.72B	494.44M	416.89M	-1.06B	-2.48B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2B	-1.79B	-257.03M	-256.81M	-872.72M	-1.31B	-1.6B	-3.13B	-1.67B	-1.31B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.84B	-3.63B	-599.76M	-1.28B	1.62B	575K	-45K	-25K	-365K	-49K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.14B	-922.78M	342.05M	-24.86M	-5.24B	1.98B	1.44B	3.92B	3.53B	859.43M
FCF Margin %	0.06%	-0.05%	0.02%	-0%	-0.26%	0.09%	0.05%	0.17%	0.17%	0.04%
FCF Growth %	-0.58%	-1.81%	1.37%	-1.07%	-209.75%	1.38%	-0.27%	1.72%	-0.1%	-0.76%
FCF per Share	30.13	-21.29	9.30	-0.61	-142.18	53.72	38.72	105.49	96.16	23.42
FCF Conversion (FCF/Net Income)	2.61x	2.08x	1.57x	3.11x	0.08x	2.50x	1.48x	2.50x	3.36x	4.13x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.66%	9.66%	17.47%	7.27%	26.79%	22.26%	22.01%	14.1%	7.95%	5.77%
Return on Invested Capital (ROIC)	12.39%	8.3%	8.3%	7.12%	15.32%	20.55%	15.33%	8.2%	4.93%	3.58%
Gross Margin	20.58%	19.81%	18.04%	18.56%	19.3%	21.87%	26.47%	20.89%	16.62%	12.97%
Net Margin	10.72%	9.28%	16.87%	7.17%	12.33%	10.34%	18.02%	14.63%	9.21%	6.34%
Debt / Equity	0.40x	0.66x	0.58x	0.54x	0.50x	0.42x	0.46x	0.60x	0.64x	0.61x
Interest Coverage	20.92x	13.83x	10.31x	11.04x	421.37x	612.39x	42.40x	22.58x	7.16x	4.57x
FCF Conversion	2.61x	2.08x	1.57x	3.11x	0.08x	2.50x	1.48x	2.50x	3.36x	4.13x
Revenue Growth	-4.61%	-7.46%	-2.43%	3.01%	10.05%	13.15%	19.07%	-14.17%	-9.19%	6.27%

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
TAIWAN	-	-	-	-	-	-	17.29B	18.08B
TAIWAN Growth	-	-	-	-	-	-	-	4.58%
CHINA	-	-	789.5M	1.11B	-	-	1.73B	1.68B
CHINA Growth	-	-	-	40.03%	-	-	-	-2.69%
JAPAN	2.26B	1.83B	1.91B	1.29B	-	-	1.18B	1.35B
JAPAN Growth	-	-19.13%	4.36%	-32.23%	-	-	-	14.97%
SINGAPORE	1.8B	1.14B	1.33B	1.84B	-	390.49M	676.09M	981.33M
SINGAPORE Growth	-	-36.41%	16.57%	37.90%	-	-	73.14%	45.15%
TAIWAN, PROVINCE OF CHINA	13.15B	14.75B	15.88B	18.34B	-	-	-	-
TAIWAN, PROVINCE OF CHINA Growth	-	12.16%	7.61%	15.54%	-	-	-	-

Frequently Asked Questions

Valuation & Price

ChipMOS TECHNOLOGIES Inc. (IMOS) has a price-to-earnings (P/E) ratio of 1.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

ChipMOS TECHNOLOGIES Inc. (IMOS) reported $22.81B in revenue for fiscal year 2024. This represents a 25% increase from $18.21B in 2011.

ChipMOS TECHNOLOGIES Inc. (IMOS) grew revenue by 6.3% over the past year. This is steady growth.

Yes, ChipMOS TECHNOLOGIES Inc. (IMOS) is profitable, generating $247.2M in net income for fiscal year 2024 (6.3% net margin).

Dividend & Returns

Yes, ChipMOS TECHNOLOGIES Inc. (IMOS) pays a dividend with a yield of 90.46%. This makes it attractive for income-focused investors.

ChipMOS TECHNOLOGIES Inc. (IMOS) has a return on equity (ROE) of 5.8%. This is below average, suggesting room for improvement.

ChipMOS TECHNOLOGIES Inc. (IMOS) had negative free cash flow of $84.6M in fiscal year 2024, likely due to heavy capital investments.

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