WIN Semiconductors (3105) Q1 2026 earnings summary

Executive summary

• 1Q26 consolidated revenue reached NT$4,590mn, up 28% YoY and slightly above expectations, but down 4% QoQ.

• Net income attributable to the parent was NT$533mn, with EPS of NT$1.26, both showing significant YoY growth.

• Fab capacity utilization remained flat QoQ at 60%.

Financial highlights

• Gross margin for 1Q26 was 26.3%, down 5.5pp QoQ but up from 16.7% YoY.

• Operating margin was 9.4%, down 4.5pp QoQ.

• Net margin was 9.8%, a decrease from 20.0% in 4Q25 but up from -1.8% in 1Q25.

• ROE for 1Q26 was 5%.

• Book value per share at quarter-end was NT$85.68.

Outlook and guidance

• 2Q26 consolidated revenue expected to increase by mid-teens percentage QoQ.

• 2Q26 gross margin projected to be in the high twenties.