Formosa Sumco Technology (TPE:3532) Operating Income: NT$996 Mil (TTM As of Dec. 2025)

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TPE:3532 Formosa Sumco Technology Corp TPE:3532
62 GF Score
Price NT$379.50
GF Value NT$117.70
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Formosa Sumco Technology Operating Income?

Formosa Sumco Technology TPE:3532 -9.96% 62 Operating Income is NT$996 Mil as of Dec. 2025. GuruFocus rates TPE:3532 with a GF Score™ of 62/100 and a GF Value™ of NT$117.70 (Significantly Overvalued). The stock has 6 warning signs investors should review.

Formosa Sumco Technology's Operating Income for the three months ended in Dec. 2025 was NT$299 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was NT$996 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Formosa Sumco Technology's Operating Income for the three months ended in Dec. 2025 was NT$299 Mil. Formosa Sumco Technology's Revenue for the three months ended in Dec. 2025 was NT$3,269 Mil. Therefore, Formosa Sumco Technology's Operating Margin % for the quarter that ended in Dec. 2025 was 9.15%.

Warning Sign:

Formosa Sumco Technology Corp operating margin has been in a 5-year decline. The average rate of decline per year is -10.3%.

Formosa Sumco Technology's 5-Year average Growth Rate for Operating Margin % was -10.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Formosa Sumco Technology's annualized ROC % for the quarter that ended in Dec. 2025 was 2.02%. Formosa Sumco Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 3.51%.


Formosa Sumco Technology  (TPE:3532) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Formosa Sumco Technology's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=1195.948 * ( 1 - 20.5% )/( (47078.631 + 46876.805)/ 2 )
=950.77866/46977.718
=2.02 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=51183.216 - 2831.161 - ( 1273.424 - max(0, 3304.783 - 8035.967+1273.424))
=47078.631

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=51296.089 - 2683.988 - ( 1735.296 - max(0, 3200.286 - 8804.263+1735.296))
=46876.805

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Formosa Sumco Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1623.52/( ( (42894.899 + max(3427.83, 0)) + (42217.953 + max(3852.867, 0)) )/ 2 )
=1623.52/( ( 46322.729 + 46070.82 )/ 2 )
=1623.52/46196.7745
=3.51 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2614.901 + 3870.127 + 240.35) - (2831.161 + 0 + 466.387)
=3427.83

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2698.93 + 4194.697 + 152.335) - (2683.988 + 0 + 509.107)
=3852.867

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Formosa Sumco Technology's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=298.987/3268.741
=9.15 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Formosa Sumco Technology Operating Income Related Terms


Formosa Sumco Technology Operating Income Historical Data

* Premium members only.

The historical data trend for Formosa Sumco Technology's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Formosa Sumco Technology Operating Income Chart

Formosa Sumco Technology Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,816.02 5,184.72 4,078.05 1,606.08 995.91

Formosa Sumco Technology Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 387.78 267.07 189.89 239.96 298.99
TPE:3532
62GF Score
Formosa Sumco Technology Corp TPE:3532
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Formosa Sumco Technology Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$996 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of NT$996 Mil mean?
Formosa Sumco Technology (TPE:3532) has a Operating Income of NT$996 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Formosa Sumco Technology and its competitors.
Is Formosa Sumco Technology's Operating Income too high?
Formosa Sumco Technology's current Operating Income is NT$996 Mil. Overall, Formosa Sumco Technology has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Formosa Sumco Technology's Operating Income compare to AMAT and LRCX?
Formosa Sumco Technology's Operating Income of NT$996 Mil can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Semiconductors company?
A good Operating Income depends on the Semiconductors industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Formosa Sumco Technology and its competitors. Formosa Sumco Technology's current Operating Income is NT$996 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formosa Sumco Technology stock overvalued right now?
Based on GuruFocus' analysis, Formosa Sumco Technology (TPE:3532) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$117.70, compared to a current price of NT$379.50 — trading 222.4% above its estimated fair value. The current Operating Income is NT$996 Mil. Formosa Sumco Technology's overall GF Score™ is 62/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Formosa Sumco Technology (TPE:3532), the current Operating Income is NT$996 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Formosa Sumco Technology (TPE:3532) Overvalued in 2026?

Based on GuruFocus' analysis, Formosa Sumco Technology stock appears to be overvalued. The current stock price of NT$379.50 is trading 222.4% above its estimated GF Value™ of NT$117.70. GuruFocus considers Formosa Sumco Technology to be Significantly Overvalued.

Key valuation signals for TPE:3532:

  • Operating Income: NT$996 Mil
  • GF Value™: NT$117.70 vs. price of NT$379.50 (222.4% above fair value)
  • GF Score™: 62/100 with 6 warning signs

No single metric tells the full story. See the TPE:3532 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Formosa Sumco Technology Business Description

Address Nanjing East Road, 8th Floor, A1 Building, No. 380, Section 6, Neihu District, Taipei, TWN
Formosa Sumco Technology Corp is a Taiwan-based manufacturer and seller of silicon wafer electronic products. The company operates in two principal geographical areas: Taiwan, China, and Japan, with the majority of revenue from Taiwan. The company's product range includes Polished Wafers, Annealed Wafers, Test Wafers, and Epitaxial Wafers.
62GF Score

Get the complete analysis for TPE:3532

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$379.50
Price
NT$117.70
GF Value