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Financial statementsCHIPMOS TECHNOLOGIES INC financial statements
Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data CHIPMOS TECHNOLOGIES INC files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 605 | 604 | 680 | 819 | 988 | 765 | 697 | 692 |
| Cost of revenue | 496 | 492 | 549 | 640 | 726 | 605 | 582 | 602 |
| Gross profit | 109 | 112 | 131 | 179 | 261 | 160 | 116 | 89.8 |
| Research and development | 33.3 | 30.7 | 33.7 | 36.2 | 41.1 | 37.7 | 35.7 | 35.5 |
| General and administrative | 21.6 | 15.8 | 16.7 | 18.8 | 21.8 | 17.5 | 16.3 | 14.6 |
| Operating income | 75.6 | 68.6 | 82.2 | 127 | 201 | 105 | 62.3 | 38.9 |
| Interest expense | 7.33 | 6.22 | 6.03 | 6.11 | 4.73 | 4.99 | 8.7 | 8.51 |
| Interest income | 1.79 | |||||||
| Other non-operating income | 2.53 | |||||||
| Pre-tax income | 51.7 | 58.2 | 101 | 106 | 218 | 131 | 74.1 | 50.2 |
| Income tax | 18.6 | 14.9 | 17.2 | 21.2 | 39.6 | 19.1 | 9.82 | 6.33 |
| Income from continuing operations | 33.1 | 43.3 | 83.9 | |||||
| Net income | 94.4 | 43.3 | 83.9 | 84.7 | 178 | 112 | 64.3 | 43.9 |
| EBITDA | 173 | 179 |
Balance sheet
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 271 | 152 | 157 | 146 | 213 | 322 | 403 | 464 |
| Receivables | 137 | 157 | ||||||
| Inventory | 65.1 | 58.1 | 59.1 | 74.9 | 116 | 104 | 83.9 | 82.2 |
| Total current assets | 479 | 388 | 393 | 440 | 594 | 597 | 822 | 721 |
| Property, plant and equipment | 499 | 549 | 601 | 641 | 725 | 665 | 625 | 610 |
| Lease right-of-use assets | 23 | 30.6 | 30.1 | 29.3 | 33.9 | 31.3 | ||
| Total assets | 1,122 | 1,082 | 1,147 | 1,249 | 1,533 | 1,463 | 1,508 | 1,384 |
| Short-term debt | 32.7 | 26.4 | 10.4 | |||||
| Total current liabilities | 234 | 171 | 168 | 204 | 267 | 211 | 243 | 267 |
| Lease liabilities | 0.61 | 22.3 | 26.3 | 24.6 | 24.7 | 26.6 | 25 | |
| Total liabilities | 511 | 494 | 494 | 512 | 663 | 661 | 699 | 621 |
| Total debt | 325 | 320 | ||||||
| Paid-in capital | 198 | 192 | ||||||
| Retained earnings | 95 | 118 | 156 | 192 | 307 | 277 | 276 | 258 |
| Total equity | 611 | 589 | 653 | 738 | 870 | 802 | 809 | 763 |
| Total liabilities and equity | 1,122 | 1,082 | 1,147 | 1,249 | 1,533 | 1,463 | 1,508 | 1,384 |
Cash flow statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Net income | 94.4 | 43.3 | 83.9 | 84.7 | 178 | 112 | 64.3 | 43.9 |
| Depreciation and amortization | 97.8 | 110 | ||||||
| Cash from operations | 140 | 135 | 200 | 212 | 264 | 280 | 216 | 181 |
| Capital expenditures | -158 | -136 | -182 | -141 | -212 | -153 | -100 | -155 |
| Cash from investing | -118 | -168 | -142 | -135 | -217 | -165 | -101 | -18.8 |
| Dividends paid | -8.67 | -8.39 | -29.2 | -46.6 | -57.7 | -102 | -54.6 | -39.9 |
| Cash from financing | -18.6 | -78.4 | -56.1 | -96.9 | 17.8 | 13.6 | -34.6 | -75.5 |
| Exchange rate effect | -1.3 | 0.24 | -0.19 | -0.39 | -0.23 | 0.62 | -0.03 | 0.46 |
| Net change in cash | 130 | 80.3 | 87.4 | |||||
| Free cash flow | -17.7 | -0.82 | 18.1 | 70.5 | 51.8 | 127 | 115 | 26.2 |
| Interest paid | 6.39 | 5.04 | 5.72 | 5.35 | 3.6 | 3.49 | 7.43 | 7.5 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 13.0% | Gross profit / revenue. |
| Operating margin | 5.6% | Operating income / revenue. |
| Pre-tax margin | 7.3% | Pre-tax income / revenue. |
| Net margin | 6.3% | Net income / revenue. |
| FCF margin | 3.8% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 26.2% | Cash from operations / revenue. |
| Effective tax rate | 12.6% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on assets (ROA) | 3.0% | Net income / average total assets. |
| R&D / revenue | 5.1% | Research and development expense / revenue. |
| Capex / revenue | 22.4% | Capital expenditures / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -0.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -11.2% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 0.4% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | -22.5% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | -30.0% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | -7.3% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | -37.7% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -42.1% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | -13.9% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -31.7% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -37.3% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | -12.1% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -16.0% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -11.8% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | -2.0% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -77.3% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -20.3% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 7.7% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | -8.2% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -3.3% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 3.8% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 2.71x | Current assets / current liabilities. |
| Quick ratio | 1.74x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 1.74x | (Cash + short-term investments) / current liabilities. |
| Liabilities / assets | 44.9% | Total liabilities / total assets. |
| Interest coverage | 4.57x | Operating income / interest expense. |
| Working capital | $454.5M | Current assets - current liabilities. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.48x | Revenue / average total assets. |
| Fixed asset turnover | 1.12x | Revenue / average property, plant and equipment. |
| Inventory turnover | 7.25x | Cost of revenue / average inventory. |
| Days inventory | 50 days | 365 x average inventory / cost of revenue. |
| FCF conversion | 59.7% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 85.5% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| Payout ratio | 90.9% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 152.3% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $2.51B | Share price x shares outstanding. |
| Enterprise value | $2.05B | Market cap + total debt - cash - short-term investments. |
| P/E | 57.2x | Market cap / net income. Only when net income is positive. |
| P/S | 3.63x | Market cap / revenue. |
| P/FCF | 95.9x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 13.9x | Market cap / cash from operations, when positive. |
| EV/Sales | 2.96x | Enterprise value / revenue. |
| EV/EBIT | 52.7x | Enterprise value / operating income, when both are positive. |
| EV/FCF | 78.1x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 1.0% | Free cash flow / market cap. |
| Earnings yield | 1.7% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.6% | Dividends paid over the period / market cap. |
| Shareholder yield | 1.6% | (Dividends paid + share buybacks) / market cap. |
What was CHIPMOS TECHNOLOGIES INC's revenue in fiscal 2024?
CHIPMOS TECHNOLOGIES INC reported revenue of $692.2M for fiscal 2024, 0.8% lower than the year before.
Was CHIPMOS TECHNOLOGIES INC profitable in fiscal 2024?
Yes. Net income was $43.9M, a net margin of 6.3%.
How much free cash flow did CHIPMOS TECHNOLOGIES INC generate in fiscal 2024?
Cash from operations of $181.2M minus capital expenditures of $155.0M left free cash flow of $26.2M.