Discounted Cash Flow

United Microelectronics Corp. ADR

UMC · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $147.9b $8.6b $44.1b 5.8% $0.71
2017 $5.0b (-96.6%) $326.5m (-96.2%) $326.5m (-99.3%) 6.5% (11.2%) $0.03 (-95.8%)
2018 $4.9b (-1.9%) $250.8m (-23.2%) $250.8m (-23.2%) 5.1% (-21.7%) $0.02 (-33.3%)
2019 $5.0b (0.3%) $272.7m (8.7%) $272.7m (8.7%) 5.5% (8.4%) $0.02 (0.0%)
2020 $6.3b (27.1%) $814.1m (198.6%) $814.1m (198.6%) 12.9% (135.0%) $0.07 (250.0%)
2021 $7.7b (21.9%) $1.8b (126.9%) $1.8b (126.9%) 24.1% (86.1%) $0.15 (114.3%)
2022 $9.1b (18.1%) $2.9b (57.6%) $2.9b (57.6%) 32.1% (33.4%) $0.24 (60.0%)
2023 $7.3b (-19.9%) $1.9b (-33.1%) $-8.0b (-375.4%) 26.8% (-16.5%) $0.16 (-33.3%)
2024 $7.1b (-2.5%) $1.5b (-23.7%) $2.5b (131.5%) 21.0% (-21.7%) $0.12 (-25.0%)
2025 $237.6b (3253.1%) $40.2b (2600.9%) $49.1b (1842.7%) 16.9% (-19.5%) $3.30 (2650.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model