U 
Universal Microwave Technology 3491.TWO · TWD
Information Technology · Taipei Exchange · 🇹🇼 Taiwan
1,190.00
+9.68%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 2.45bn
FY2016FY2025
Net income
TWD 518.4m
FY2016FY2025
Free cash flow
−TWD 344.6m
FY2016FY2025
Shareholders' equity
TWD 3.62bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 2.45bn | TWD 2.33bn | TWD 1.59bn | TWD 1.84bn | TWD 1.76bn | TWD 1.48bn | TWD 1.75bn | TWD 1.76bn | TWD 1.48bn | TWD 1.52bn |
| Gross profit | TWD 1.25bn | TWD 1.20bn | TWD 641.1m | TWD 750.9m | TWD 655.3m | TWD 556.2m | TWD 755.1m | TWD 631.9m | TWD 570.1m | TWD 547.6m |
| Research and development | TWD 184.5m | TWD 196.6m | TWD 150.6m | TWD 150.9m | TWD 146.1m | TWD 131.2m | TWD 130.3m | TWD 117.0m | TWD 108.0m | TWD 92.5m |
| Operating income | TWD 574.4m | TWD 623.7m | TWD 305.7m | TWD 422.5m | TWD 280.0m | TWD 202.2m | TWD 279.0m | TWD 268.8m | TWD 267.4m | TWD 256.0m |
| Net income | TWD 518.4m | TWD 546.9m | TWD 200.1m | TWD 271.0m | TWD 236.6m | TWD 124.2m | TWD 250.1m | TWD 220.8m | TWD 186.2m | TWD 220.4m |
| Diluted earnings per share | 7.68 | 8.44 | 3.13 | 4.36 | 3.81 | 2.00 | 4.12 | 3.68 | 3.39 | 3.95 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 5.20bn | TWD 4.28bn | TWD 3.40bn | TWD 3.45bn | TWD 3.53bn | TWD 3.19bn | TWD 2.92bn | TWD 2.75bn | TWD 2.54bn | TWD 2.33bn |
| Cash and short-term investments | — | — | TWD 1.44bn | TWD 1.37bn | TWD 1.29bn | TWD 1.15bn | — | — | — | TWD 687.3m |
| Total liabilities | TWD 1.58bn | TWD 1.77bn | TWD 937.1m | TWD 1.06bn | TWD 1.15bn | TWD 881.1m | TWD 563.7m | TWD 524.8m | TWD 711.9m | TWD 814.4m |
| Debt | TWD 140.0m | TWD 1.04bn | TWD 441.2m | TWD 557.2m | TWD 560.6m | TWD 416.4m | TWD 131.2m | TWD 81.5m | TWD 320.0m | TWD 150.0m |
| Shareholders' equity | TWD 3.62bn | TWD 2.45bn | TWD 2.06bn | TWD 1.97bn | TWD 1.99bn | TWD 1.92bn | TWD 1.96bn | TWD 1.85bn | TWD 1.49bn | TWD 1.52bn |
| Shares outstanding | 67m | 65m | 64m | 62m | 62m | 62m | 61m | 60m | 55m | 56m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 471.2m | TWD 713.0m | TWD 527.4m | TWD 420.3m | TWD 184.4m | TWD 285.7m | TWD 186.1m | TWD 13.7m | TWD 327.7m | TWD 315.6m |
| Capital spending | −TWD 815.8m | −TWD 547.8m | −TWD 111.0m | −TWD 86.8m | −TWD 34.0m | −TWD 53.4m | −TWD 50.1m | −TWD 82.9m | −TWD 37.1m | −TWD 73.0m |
| Free cash flow | −TWD 344.6m | TWD 165.2m | TWD 416.4m | TWD 333.5m | TWD 150.4m | TWD 232.3m | TWD 136.0m | −TWD 69.3m | TWD 290.6m | TWD 242.6m |
| Dividends paid | −TWD 430.0m | −TWD 213.9m | −TWD 297.8m | −TWD 300.0m | −TWD 210.1m | −TWD 284.6m | −TWD 192.7m | −TWD 215.9m | −TWD 206.3m | −TWD 221.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 902.0m | TWD 1.02bn | TWD 834.5m | TWD 483.9m | TWD 513.7m | TWD 620.1m | TWD 613.8m | TWD 639.6m |
| Gross profit | TWD 501.5m | TWD 591.5m | TWD 488.7m | TWD 228.9m | TWD 222.7m | TWD 313.6m | TWD 312.4m | TWD 330.3m |
| Operating income | TWD 241.4m | TWD 313.7m | TWD 229.9m | TWD 84.2m | TWD 93.6m | TWD 166.7m | TWD 163.9m | TWD 185.4m |
| Net income | TWD 307.8m | TWD 253.1m | TWD 216.1m | TWD 88.3m | TWD 71.1m | TWD 142.9m | TWD 158.8m | TWD 132.4m |
| Diluted earnings per share | 4.47 | 3.68 | 3.14 | 1.32 | 1.07 | 2.16 | 2.45 | 2.04 |
| Cash from operations | −TWD 49.0m | TWD 182.0m | TWD 72.0m | −TWD 31.0m | TWD 140.0m | TWD 290.0m | TWD 240.0m | TWD 323.0m |
| Capital spending | −TWD 214.0m | −TWD 231.0m | −TWD 445.0m | −TWD 85.0m | −TWD 98.0m | −TWD 186.0m | −TWD 221.0m | −TWD 110.0m |
| Free cash flow | −TWD 263.0m | −TWD 49.0m | −TWD 373.0m | −TWD 116.0m | TWD 42.0m | TWD 104.0m | TWD 19.0m | TWD 213.0m |
| Total assets | TWD 7.24bn | TWD 5.73bn | TWD 5.20bn | TWD 4.09bn | TWD 4.10bn | TWD 4.44bn | TWD 4.28bn | TWD 4.72bn |
| Debt | TWD 1.08bn | TWD 140.0m | TWD 140.0m | TWD 534.6m | TWD 605.4m | TWD 607.5m | TWD 907.0m | TWD 900.8m |
| Shareholders' equity | TWD 4.54bn | TWD 3.48bn | TWD 3.62bn | TWD 2.72bn | TWD 2.48bn | TWD 2.51bn | TWD 2.45bn | TWD 2.60bn |
Financial ratios
Data as of 9 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 51.1% | 51.3% | 40.4% | 40.9% | 37.3% | 37.5% |
| Operating margin | 23.4% | 26.7% | 19.3% | 23.0% | 15.9% | 13.6% |
| Net margin | 21.1% | 23.4% | 12.6% | 14.7% | 13.5% | 8.4% |
| Return on equity | 14.3% | 22.3% | 9.7% | 13.8% | 11.9% | 6.5% |
| Return on assets | 10.0% | 12.8% | 5.9% | 7.9% | 6.7% | 3.9% |
| Free cash flow yield | — | 1.3% | 0.7% | 0.6% | 0.2% | 0.4% |
| Revenue growth | 5.0% | 47.3% | -13.7% | 4.5% | 18.7% | -15.5% |
| Earnings growth | -5.2% | 173.3% | -26.2% | 14.5% | 90.5% | -50.3% |
| Current ratio | 1.84x | 3.14x | 2.45x | 2.23x | 2.02x | 2.23x |
| Debt to equity | 0.04x | 0.37x | 0.21x | 0.28x | 0.28x | 0.21x |
| Equity ratio | 69.6% | 57.2% | 60.5% | 57.0% | 56.4% | 60.2% |
| Interest coverage | 34.27x | 45.47x | 46.62x | 90.22x | 123.79x | 85.45x |
| R&D as a share of sales | 7.5% | 8.4% | 9.5% | 8.2% | 8.3% | 8.9% |
| Buybacks as a share of market value | — | -1.2% | -3.0% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.1% | 10.6% | 5.6% |
| Operating income | 10.8% | 23.2% | 8.3% |
| Net income | 24.1% | 33.1% | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 51.2% | 46.8% | 44.2% | 41.9% |
| Operating margin | 25.0% | 23.5% | 21.0% | 19.3% |
| Net margin | 22.3% | 18.7% | 16.6% | 15.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 88.4 | 38.9 | 52.0 | 30.9 | 56.3 | 35.8 | 22.8 | 19.7 | 20.9 | 15.4 |
| Price to sales | 18.7 | 9.1 | 6.6 | 4.5 | 7.6 | 3.0 | 3.3 | 2.5 | 2.6 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 23 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 6.80 | 6.489 | 3.351 | 3.957 | 4.00 |
- 1059.941-for-1000 split · 12 Aug 2019
- 1059.941-for-1000 split · 8 Aug 2019
- 1049.83-for-1000 split · 29 Jul 2010
- 130-for-100 split · 21 Jul 2009
- 130-for-100 split · 16 Jul 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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