ChipMOS Technologies (IMOS) AI Stock Analysis

• Market Cap: $1.34B
• Dividend Yield: 2.25%
• Average Volume (3M): 20.79K
• Price to Earnings (P/E): 175.4
• Beta (1Y): 1.08
• 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: 35,226,160
• 10 Day Avg. Volume: 14,321
• 30 Day Avg. Volume: 20,786
• 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: 33.12
• Enterprise Value/Revenue: 1.95
• Enterprise Value/Gross Profit: 20.46
• Enterprise Value/Ebitda: 7.44
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: $45.00 ▲(35.38% Upside)

The score is held back mainly by weakening profitability and negative free cash flow, plus a very expensive valuation (high P/E). Technicals are a counterbalance, with a strong uptrend and positive momentum, though indicators are approaching overbought levels.

Positive Factors

Revenue Momentum from Memory Demand

Sustained double-digit quarterly revenue growth driven by memory demand and improved product mix reflects structural industry tailwinds for OSAT providers. This supports higher utilization, pricing leverage for specialized services, and a stronger order book over the next several quarters.

Manageable Leverage and Equity Base

A moderate debt-to-equity and a >50% equity ratio indicate a stable capital structure, giving management flexibility to fund capex, absorb cyclical shocks, or pursue selective investments without immediate refinancing pressure, supporting multi-quarter operational resilience.

Shareholder-Friendly Capital Actions

The completed treasury share cancellation and capital reduction demonstrate disciplined capital allocation and a focus on per-share value. Reducing outstanding shares is a structural way to improve EPS and return metrics and signals management prioritizes long-term shareholder returns.

Negative Factors

Negative Free Cash Flow and Weak Cash Conversion

Negative free cash flow and operating cash covering less than half of net income indicate persistent cash-generation weakness. This constrains funding for capex, R&D, dividends, or buybacks and could necessitate external financing, raising long-term financial flexibility concerns.

Declining Profitability and Margin Compression

Material margin deterioration despite revenue growth suggests rising cost pressures, weaker pricing power, or an adverse product mix. Sustained margin compression undermines cash earnings and ROE, making it harder to convert top-line gains into durable shareholder returns over multiple quarters.

Environmental Compliance Risk

A regulatory fine and required process changes highlight operational and compliance risk at manufacturing sites. Remediation, ongoing monitoring, potential stricter permits or local scrutiny can increase costs and constrain capacity expansion, affecting operations over an extended period.

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

Strong TTM revenue growth (+33.3%) is a clear positive, but profitability is deteriorating (gross margin down to 9.92% and net margin down to 0.86%). Cash flow is the biggest concern with free cash flow turning negative and weak operating cash flow conversion (OCF to net income ratio 0.45).

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: Neutral
• Last Price: 33.24
• 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 Neutral. The current price of 33.24 is below the 20-day moving average (MA) of 38.54, above the 50-day MA of 32.58, and above the 200-day MA of 22.12, indicating a neutral trend. The MACD of 2.22 indicates Positive momentum. The RSI at 49.34 is Neutral, neither overbought nor oversold. The STOCH value of 13.98 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IMOS.

ChipMOS Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMKR	66 Neutral	$11.95B	38.95	7.27%	0.81%	0.13%	-16.17%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
IMOS	60 Neutral	$1.34B	175.39	0.98%	2.25%	0.96%	-85.27%
CEVA	52 Neutral	$569.81M	-44.55	-4.22%	―	5.55%	-239.94%
ICHR	52 Neutral	$1.04B	-26.13	-5.94%	―	16.86%	-26.89%
INDI	49 Neutral	$900.49M	-5.30	-34.90%	―	-4.99%	-12.11%
AOSL	48 Neutral	$664.36M	-6.90	-11.17%	―	5.81%	-376.55%

ChipMOS Technologies Corporate Events

ChipMOS Posts Sharp Profit Rebound as TWSE Triggers Enhanced Disclosure

On January 19, 2026, ChipMOS Technologies disclosed selected financial metrics after its securities triggered a Taiwan Stock Exchange publication threshold, releasing November 2025 and recent quarterly results for investor reference. Unaudited revenue for November 2025 rose 16.6% year-on-year to NT$2.14 billion, while net profit before tax surged 245.5% to NT$304 million and profit attributable to owners jumped 240% to NT$255 million, driving EPS up 270% to NT$0.37. For the reviewed third quarter of 2025, revenue increased 1.3% year-on-year to NT$6.144 billion, with net profit before tax up 23.4% to NT$438 million and EPS up 22% to NT$0.50, while cumulative results for the four quarters from 2024 Q4 to 2025 Q3 showed NT$22.812 billion in revenue and NT$0.31 in EPS. The strong profitability rebound, particularly in the latest monthly figures, underpins an improvement in ChipMOS’s operating performance and offers investors greater transparency at a time when trading in its securities has become active enough to meet enhanced disclosure thresholds.

The most recent analyst rating on (IMOS) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

ChipMOS Posts Double-Digit Revenue Growth in December and Q4 2025 on Memory Demand

On January 9, 2026, ChipMOS Technologies reported strong unaudited results for December 2025 and the fourth quarter of 2025, reflecting a favorable upturn in the semiconductor cycle and robust demand for memory products used in computing and data centers. Fourth-quarter 2025 revenue rose 20.8% year-on-year to NT$6,521.1 million (US$207.9 million), and 6.1% sequentially from the third quarter, while December 2025 revenue increased 23.8% year-on-year and 2.9% month-on-month to NT$2,203.3 million (US$70.2 million), underscoring a strengthening product mix and suggesting improved industry positioning and operating momentum for the OSAT provider heading into 2026.

The most recent analyst rating on (IMOS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

ChipMOS Fined for Environmental Violation in December 2025

On December 16, 2025, ChipMOS Technologies Inc. announced that it was fined NT$2,058,000 by the HsinChu County Environmental Protection Bureau for exceeding boron concentration limits in wastewater at its Zhubei facility, a violation of the Water Pollution Control Act. The company has since outsourced high-concentration wastewater treatment and implemented a boron-free process to comply with standards, and plans to file an administrative appeal regarding the discharge standards.

The most recent analyst rating on (IMOS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

ChipMOS Reports Significant Revenue Growth in November 2025

On December 10, 2025, ChipMOS TECHNOLOGIES INC. reported a 16.7% year-over-year increase in revenue for November 2025, reaching NT$2,140.3 million (US$68.2 million). This growth was driven by strong demand for memory products in computing and datacenters, despite a 1.7% decrease from October 2025 due to fewer operating days. The announcement underscores ChipMOS’s robust market positioning and its ability to capitalize on industry-wide demand trends.

The most recent analyst rating on (IMOS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

ChipMOS Completes Treasury Stock Cancellation

On December 1, 2025, ChipMOS Technologies announced the completion of its treasury stock cancellation registration, following the approval of a capital reduction by the competent authority on November 6, 2025. Despite the capital reduction, the company’s paid-in capital and net worth per share remained stable, indicating a strategic move to optimize its financial structure without affecting shareholder value. The cancellation involved 12,717,000 shares from the sixth repurchase of treasury shares, reflecting the company’s ongoing efforts to manage its equity effectively.

The most recent analyst rating on (IMOS) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.

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.

The most recent analyst rating on (IMOS) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on ChipMOS Technologies stock, see the IMOS Stock Forecast page.