ChipMOS Technologies (IMOS) AI Stock Analysis

• Market Cap: $976.16M
• Dividend Yield: 3.01%
• Average Volume (3M): 19.71K
• Price to Earnings (P/E): 129.1
• Beta (1Y): 1.06
• Revenue Growth: 0.96%
• EPS Growth: -85.27%
• Country: US
• Employees: 5,688
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.32
• Shares Outstanding: 35,862,007
• 10 Day Avg. Volume: 19,673
• 30 Day Avg. Volume: 19,707
• PEG Ratio: -0.62
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 26.17
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 0.03
• Enterprise Value/Gross Profit: 0.35
• Enterprise Value/Ebitda: 0.13
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.33
• Revenue Forecast (FY): $762.32M

• Rating: 64 Neutral
• Price Target: $31.00 ▲(14.60% Upside)

ChipMOS Technologies' stock score is primarily influenced by strong technical momentum and revenue growth. However, significant concerns about profitability, cash flow, and valuation weigh down the overall score. The earnings call provided a mixed outlook with both positive growth in memory products and challenges in margins and net income.

Positive Factors

Revenue Growth

Consistent revenue growth, particularly in memory products, indicates strong market demand and effective business strategy, enhancing long-term stability.

Market Position

A significant revenue increase reflects ChipMOS's strong market position and operational efficiency, which supports sustained growth.

Strategic Partnerships

Long-term contracts with major manufacturers provide stable revenue and strengthen market position, ensuring consistent business performance.

Negative Factors

Profitability Challenges

Declining profit margins indicate pressure on profitability, which could affect financial health and investment potential over time.

Cash Flow Issues

Negative free cash flow suggests cash management issues, potentially limiting investment capacity and operational flexibility.

Foreign Exchange Losses

Significant foreign exchange losses can impact net income and financial stability, posing a risk to profitability and cash reserves.

ChipMOS Technologies Business Overview & Revenue Model

Company Description

ChipMOS 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.

How the Company Makes Money

ChipMOS Technologies generates revenue primarily through its semiconductor testing and packaging services. Key revenue streams include the provision of testing services for various types of integrated circuits, including memory chips and application-specific integrated circuits (ASICs), as well as the packaging of these chips for clients. The company typically charges fees for each testing and packaging job, which can vary based on the complexity and volume of the work. Additionally, ChipMOS benefits from long-term contracts with major semiconductor manufacturers, which provide stable revenue and foster partnerships that enhance its market position. The company also invests in expanding its service capabilities and technology offerings, which can lead to new revenue opportunities in emerging markets. Overall, the combination of diverse service offerings, strategic partnerships, and a strong focus on technological innovation contributes significantly to ChipMOS's earnings.

ChipMOS Technologies Financial Statement Overview

Summary

ChipMOS Technologies shows strong revenue growth but faces challenges in profitability and cash flow management. Declining margins and negative free cash flow are significant concerns.

Income Statement

ChipMOS Technologies has shown a mixed performance in its income statement. The TTM (Trailing-Twelve-Months) data indicates a significant revenue growth rate of 33.3%, which is a positive sign. However, the gross profit margin has decreased to 9.92% from 12.97% in the previous year, and the net profit margin has also declined to 0.86% from 6.34%. The EBIT and EBITDA margins have similarly decreased, indicating pressure on profitability. Overall, while revenue growth is strong, declining margins are a concern.

Balance Sheet

The balance sheet of ChipMOS Technologies reflects a stable financial position with a debt-to-equity ratio of 0.66, which is manageable. The equity ratio stands at 54.44%, indicating a solid equity base. However, the return on equity has decreased to 0.79% in the TTM period, which suggests lower profitability on shareholders' equity. The company maintains a reasonable level of leverage, but the declining ROE is a potential risk.

Cash Flow

The cash flow statement reveals challenges for ChipMOS Technologies. The free cash flow has turned negative in the TTM period, with a significant decline of 88.6% in free cash flow growth. The operating cash flow to net income ratio is 0.45, indicating that operating cash flows are not fully covering net income. The negative free cash flow to net income ratio further highlights cash flow issues. Overall, the cash flow situation is concerning and requires attention.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.81B	22.70B	21.36B	23.52B	27.40B	23.01B
Gross Profit	2.17B	2.94B	3.55B	4.91B	7.25B	5.03B
EBITDA	5.97B	6.78B	7.31B	8.92B	10.79B	7.31B
Net Income	247.21M	1.44B	1.97B	3.44B	4.94B	2.38B
Balance Sheet
Total Assets	42.95B	45.38B	46.16B	44.94B	42.52B	35.08B
Cash, Cash Equivalents and Short-Term Investments	13.09B	15.33B	12.44B	10.12B	6.30B	4.37B
Total Debt	15.54B	15.16B	15.98B	14.89B	11.00B	8.61B
Total Liabilities	19.57B	20.38B	21.31B	20.30B	18.38B	14.36B
Stockholders Equity	23.37B	25.00B	24.85B	24.64B	24.14B	20.72B
Cash Flow
Free Cash Flow	-84.56M	859.43M	3.53B	3.92B	1.44B	1.98B
Operating Cash Flow	4.20B	5.94B	6.61B	8.62B	7.32B	5.94B
Investing Cash Flow	-2.92B	-615.11M	-3.09B	-5.06B	-6.02B	-3.80B
Financing Cash Flow	-2.06B	-2.48B	-1.06B	416.89M	494.44M	-2.72B

ChipMOS Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMOS, the sentiment is Positive. The current price of 27.05 is above the 20-day moving average (MA) of 25.68, above the 50-day MA of 22.40, and above the 200-day MA of 18.69, indicating a bullish trend. The MACD of 1.84 indicates Positive momentum. The RSI at 59.22 is Neutral, neither overbought nor oversold. The STOCH value of 16.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMOS.

ChipMOS Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMKR	73 Outperform	$9.00B	29.33	7.27%	2.30%	0.13%	-16.17%
IMOS	64 Neutral	$976.16M	129.10	0.98%	3.01%	0.96%	-85.27%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CEVA	52 Neutral	$518.54M	―	-4.22%	―	5.55%	-239.94%
ICHR	49 Neutral	$577.66M	―	-5.94%	―	16.86%	-26.89%
AOSL	48 Neutral	$609.65M	―	-11.17%	―	5.81%	-376.55%
INDI	44 Neutral	$781.89M	―	-34.90%	―	-4.99%	-12.11%

ChipMOS Technologies Corporate Events

ChipMOS Technologies Reports Strong Financial Growth in November 2025

On November 14, 2025, ChipMOS Technologies Inc. disclosed its financial performance following a notification from the Taiwan Stock Exchange. The company reported a significant increase in its financial metrics, with a notable year-over-year growth in revenue and net profit before tax. This disclosure highlights ChipMOS’s strong market position and operational efficiency, reflecting positively on its financial health and offering reassurance to its stakeholders.

ChipMOS Announces Q3 2025 Financial Results and Share Capital Reduction

On November 11, 2025, ChipMOS Technologies Inc. held its 12th Board of Directors meeting, where they resolved to approve the Q3 2025 consolidated financial statements and a capital reduction through the cancellation of treasury shares. The financial results for the nine months ending September 30, 2025, showed a loss before income tax of NT$24,483 thousand and a loss attributable to equity holders of NT$4,559 thousand. Additionally, the Board decided to cancel 12,717,000 common shares, representing 1.77% of the share capital, as part of its 6th share repurchase program, effective November 12, 2025.

ChipMOS Reports Strong Q3 2025 Financial Results

ChipMOS TECHNOLOGIES INC. reported a strong financial performance for the third quarter of 2025, with a 7% increase in revenue and a significant 101% expansion in gross profit compared to the second quarter. The company also achieved a net earnings turnaround, reporting NT$352.2 million in profit, compared to a loss in the previous quarter. This improvement is attributed to foreign exchange gains and a prudent capital expenditure strategy, which has bolstered its financial position with a cash balance of NT$12,977.0 million.

ChipMOS Reports 22% Revenue Growth in October 2025

On November 10, 2025, ChipMOS TECHNOLOGIES INC. reported a 22% year-over-year increase in revenue for October 2025, reaching NT$2,177.4 million or US$70.8 million. This growth was driven by strong demand for memory products supporting computing and datacenters, along with a favorable product mix. The company noted that tariffs have not significantly impacted their operations so far this year, but they remain vigilant in monitoring developments to support their customers effectively.

ChipMOS Technologies Schedules Board Meeting for Q3 Financials Approval

On November 3, 2025, ChipMOS Technologies announced the upcoming Board of Directors meeting scheduled for November 11, 2025, to approve the company’s consolidated financial statements for the third quarter of 2025. This meeting is a critical step in the company’s financial reporting process and is aligned with the Taiwan Stock Exchange’s requirements for disclosure of material information, reflecting ChipMOS’s commitment to transparency and regulatory compliance.

ChipMOS Technologies Concludes Share Repurchase Program

On October 31, 2025, ChipMOS Technologies announced the expiration and execution status of its share repurchase program, initially set from September 3 to November 1, 2025. The company repurchased 12,717,000 shares out of the planned 15,000,000, spending a total of NTD 365,222,801, with an average repurchase price of NTD 28.72 per share. The repurchase was not fully executed due to a phased strategy aimed at protecting shareholder interests and responding to market conditions.

ChipMOS to Announce Q3 2025 Financial Results on November 11

On October 28, 2025, ChipMOS TECHNOLOGIES INC. announced its plan to report its third quarter 2025 financial results and host a conference call on November 11, 2025. This announcement is significant as it provides stakeholders with an opportunity to gain insights into the company’s financial performance and operational environment, potentially impacting its market positioning and investor relations.

ChipMOS Clarifies Media Reports on DRAM Growth Expectations

On October 27, 2025, ChipMOS Technologies Inc. addressed media reports from Taiwan regarding its DRAM business, clarifying that while the company anticipates maintaining a double-digit growth rate in 2025, stakeholders should rely on official public announcements for accurate financial and business information.

ChipMOS Technologies Completes NT$300 Million Share Repurchase

On October 13, 2025, ChipMOS Technologies announced that it had repurchased a cumulative value of NT$300 million in shares, amounting to 10,782,000 common shares at an average price of NT$28.28 per share. This repurchase accounts for 2.77% of the company’s issued shares, indicating a strategic move to enhance shareholder value and potentially stabilize the stock price.

ChipMOS Technologies Sees Revenue Surge in September 2025

ChipMOS Technologies reported a 10.5% year-over-year increase in revenue for September 2025, driven by stronger customer allocations in growth markets and a favorable memory industry upcycle. The company’s third-quarter revenue also saw a 7.1% increase from the previous quarter, reflecting its strong market positioning and operational resilience despite minimal impact from tariffs.

ChipMOS to Present at Yuanta Securities Conference on October 2, 2025

On September 25, 2025, ChipMOS TECHNOLOGIES INC. announced its participation in the Yuanta Securities Conference in Taipei, scheduled for October 2, 2025. During the conference, the company’s management, including Senior Vice President Jesse Huang, will present recent financial results, business trends, and growth opportunities to institutional investors. This engagement underscores ChipMOS’s ongoing commitment to transparency and communication with stakeholders, potentially enhancing its industry positioning and investor relations.

ChipMOS Reports 6.3% Revenue Increase in August 2025

ChipMOS TECHNOLOGIES INC. reported a 6.3% increase in its revenue for August 2025 compared to July 2025, reaching NT$2,090.3 million or US$68.3 million. Despite a slight year-over-year decrease of 1.2% from August 2024, the company is benefiting from favorable pricing and increased volumes in the memory products market. The company is also monitoring the evolving tariff situation to mitigate any potential impacts on its operations and customer support.

ChipMOS Announces NT$480 Million Share Repurchase Program

On September 2, 2025, ChipMOS TECHNOLOGIES INC. announced a new share repurchase program authorized by its Board of Directors, with a total amount up to NT$480 million. The program aims to repurchase up to 15 million shares, approximately 2.09% of its issued share capital, from the open market on the Taiwan Stock Exchange between September 3 and November 2, 2025. This initiative is part of the company’s capital allocation strategy, reflecting their belief that the shares are undervalued and represent a compelling investment opportunity. The move highlights ChipMOS’s confidence in its long-term business strength and commitment to building shareholder value.