Amkor Technology (AMKR) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $1.89 billion, up 16% year-on-year, with EPS of $0.69 and net income of $172 million, exceeding guidance and driven by strong communications and robust demand in all end markets.

• Full year 2025 revenue grew 6% to $6.71 billion, with net income of $374 million and EPS of $1.50, led by record results in computing and advanced packaging, and strong growth in automotive and consumer segments.

• Operational milestones included break-even in Vietnam, groundbreaking of the Arizona campus, and successful ramp of high-density fan-out (HDFO) programs.

• Entering 2026 with momentum, a clear strategy, and strong customer relationships.

• Strategic investments planned for further growth in advanced packaging and computing.

Financial highlights

• Q4 gross profit was $315 million, including a $30 million benefit from asset sales; gross margin was 16.7%, and operating income margin was 9.8%.

• Full year 2025 gross profit was $939 million (14% margin), operating income $467 million (7% margin), net income $374 million, and EBITDA $1.16 billion (17.3% margin).

• Capital expenditures for 2025 were $905 million, below guidance due to timing of Arizona facility payments.

• Year-end cash and short-term investments totaled $2 billion; total liquidity was $3 billion, up 30% year-on-year.

• Net cash from operations for 2025 was $1.10 billion.

Outlook and guidance

• Q1 2026 revenue expected between $1.6 billion and $1.7 billion, a 25% year-on-year increase at midpoint, with gross margin projected at 12.5%-13.5%.

• Q1 net income forecasted at $45-$70 million, EPS $0.18-$0.28.

• 2026 CapEx expected to rise to $2.5-$3 billion, with 65%-70% for facility expansion (Arizona phase one), and 30%-35% for HDFO, test, and advanced packaging.

• Full year 2026 revenue growth to be led by computing (expected >20% growth) and strong automotive; other segments to grow single digits.

• Operating expenses to rise to ~$135 million; effective tax rate expected at 20%.