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Amkor Technology (NASDAQ: AMKR) delivers Q4 2025 growth and details 2026 capex plan

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8-K

Rhea-AI Filing Summary

Amkor Technology reported stronger results for the fourth quarter and full year 2025. Fourth quarter net sales were $1.89 billion, up 16% year-on-year, with net income of $172 million, or $0.69 per diluted share. For 2025, net sales reached $6.71 billion, up 6%, and net income was $374 million, or $1.50 per diluted share, with EBITDA of $1.16 billion and free cash flow of $308 million. Operating cash flow was $1.10 billion, and year-end cash and short‑term investments totaled $1.99 billion against total debt of $1.45 billion. The board increased the quarterly dividend from $0.08269 to $0.08352 per share, effective with the December 23, 2025 payment. For first quarter 2026, Amkor guides net sales of $1.60–$1.70 billion, gross margin of 12.5%–13.5%, and net income of $45–$70 million, or $0.18–$0.28 per diluted share, and plans full‑year 2026 capital expenditures of about $2.5–$3.0 billion.

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Insights

Amkor delivered solid Q4 growth, stable full-year results, and a sizable 2026 investment plan.

Amkor grew fourth quarter 2025 net sales to $1.89 billion, up 16% year-on-year, with operating income of $185 million and gross margin improving to 16.7%. Full-year 2025 net sales reached $6.71 billion, up 6%, and net income attributable to Amkor was $374 million.

Profitability metrics were steady to slightly better: full-year operating income was $467 million, operating margin 7.0%, and EBITDA $1.16 billion. Free cash flow was $308 million on net cash from operations of $1.10 billion, supporting higher year-end cash and short-term investments of $1.99 billion.

The balance sheet shows total debt of $1.45 billion, with Amkor stockholders’ equity of $4.47 billion. The company modestly raised its quarterly dividend to $0.08352 per share. For Q1 2026 it guides net sales of $1.60–$1.70 billion and full-year 2026 capital spending of $2.5–$3.0 billion, indicating continued investment in capacity and technology.

0001047127false00010471272026-02-092026-02-09


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
February 9, 2026
AMKOR TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-29472 23-1722724
     
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

2045 EAST INNOVATION CIRCLE
TEMPE, AZ 85284
(Address of principal executive offices, including zip code)

(480821-5000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, $0.001 par valueAMKRThe NASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  



Item 2.02. Results of Operations and Financial Condition.

On February 9, 2026, Amkor Technology, Inc. announced in a press release its financial performance for the fourth quarter and year ended December 31, 2025. The information in this Current Report on Form 8-K, including the exhibit attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.
ExhibitDescription
99.1
Press Release dated February 9, 2026, which is furnished (not filed) herewith.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMKOR TECHNOLOGY, INC.
By:/s/ Megan Faust
Megan Faust
Executive Vice President, Chief Financial Officer and Treasurer
Date: February 9, 2026

amkorlogo8ka11a.jpg


Amkor Technology Reports Financial Results
for the Fourth Quarter and Full Year 2025

TEMPE, Ariz. -- February 9, 2026 -- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Highlights:
Fourth quarter net sales $1.89 billion, up 16% year-on-year
Net income $172 million, earnings per diluted share $0.69

Full Year 2025 Highlights:
Net sales $6.71 billion, up 6% year-on-year
Gross profit $939 million, operating income $467 million
Net income $374 million, earnings per diluted share $1.50
EBITDA $1.16 billion
Net cash from operations $1.10 billion, free cash flow $308 million

“2025 was a pivotal year for Amkor. We delivered strong results with record Advanced packaging and Computing revenue, executed on our strategic initiatives, and strengthened our position in the fastest growing areas of the semiconductor industry,” said Kevin Engel, Amkor’s president and chief executive officer. “We enter 2026 with momentum and are accelerating strategic investments to support the next wave of advanced packaging growth.”

Financial Results
($ in millions, except per share data)Q4 2025Q3 2025Q4 202420252024
Net sales$1,888$1,987$1,629$6,708$6,318
Gross margin16.7%14.3%15.1%14.0%14.8%
Operating income$185$159$134$467$438
Operating income margin9.8%8.0%8.3%7.0%6.9%
Net income attributable to Amkor $172$127$106$374$354
Earnings per diluted share$0.69$0.51$0.43$1.50$1.43
EBITDA (1)$369$340$302$1,162$1,091
Net cash provided by operating activities$1,096$1,089
Annual free cash flow (1)$308$359
(1) EBITDA and free cash flow are non-GAAP measures. The reconciliations to the comparable GAAP measures are included below under “Selected Operating Data”.
At December 31, 2025, total cash and short-term investments was $1.99 billion, and total debt was $1.45 billion.
On November 12, 2025, Amkor’s Board of Directors announced a 1% increase in the quarterly cash dividend on the company’s common stock, from $0.08269 per share to $0.08352 per share. The increased quarterly dividend was effective with dividend paid on December 23, 2025. The declaration and payment of future dividends, as well as any record and payment dates, are subject to the approval of the Board of Directors.



Business Outlook
The following information presents Amkor’s guidance for the first quarter 2026 (unless otherwise noted):

Net sales of $1.60 billion to $1.70 billion
Gross margin of 12.5% to 13.5%
Net income of $45 million to $70 million, or $0.18 to $0.28 per diluted share
Full year 2026 capital expenditures of approximately $2.5 billion to $3.0 billion
Conference Call Information
Amkor will conduct a conference call on Monday, February 9, 2026, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. To access the live audio webcast and the accompanying slide presentation, visit the Investor Relations section of Amkor’s website, located at ir.amkor.com. The live call can also be accessed by dialing 1-877-407-4019 or 1-201-689-8337.
About Amkor Technology, Inc.
Amkor Technology, Inc. (Nasdaq: AMKR) is the world’s largest U.S. headquartered OSAT and is a global leader in outsourced semiconductor packaging and test services. With a strong track record of innovation, a broad and diverse geographic footprint and solid partnerships with lead customers, Amkor delivers high-quality solutions that enable the world’s leading semiconductor and electronics companies to bring advanced technologies to market. The company’s comprehensive portfolio includes advanced packaging, wafer-level processing, and system-in-package solutions targeting applications for smartphones, data centers, artificial intelligence, automobiles and wearables. For more information visit amkor.com.

Jennifer Jue
Vice President, Investor Relations
480-786-7594
jennifer.jue@amkor.com


AMKOR TECHNOLOGY, INC.
Selected Operating Data

Q4 2025Q3 2025Q4 202420252024
Net Sales Data:
Net sales (in millions):
Advanced products (1)$1,580$1,684$1,357$5,556$5,175
Mainstream products (2)3083032721,1521,143
Total net sales$1,888$1,987$1,629$6,708$6,318
Packaging services89 %89 %88 %89 %89 %
Test services11 %11 %12 %11 %11 %
Net sales from top ten customers72 %73 %73 %72 %72 %
End Market Distribution Data:
Communications (smartphones, tablets)49 %51 %44 %46 %48 %
Computing (data center, infrastructure, PC/laptop, storage)19 %19 %21 %20 %19 %
Automotive, industrial and other (ADAS, electrification, infotainment, safety)18 %16 %17 %19 %18 %
Consumer (AR & gaming, connected home, home electronics, wearables)14 %14 %18 %15 %15 %
Total100 %100 %100 %100 %100 %
 
Gross Margin Data:  
Net sales100.0 %100.0 %100.0 %100.0 %100.0 %
Cost of sales: 
Materials56.5 %57.5 %54.8 %55.2 %55.1 %
Labor9.5 %9.2 %9.9 %10.4 %9.9 %
Depreciation8.0 %7.5 %8.4 %8.7 %8.5 %
Other manufacturing9.3 %11.5 %11.8 %11.7 %11.7 %
Gross margin16.7 %14.3 %15.1 %14.0 %14.8 %

(1) Advanced products include flip chip, memory and wafer-level processing and related test services.
(2) Mainstream products include all other wirebond packaging and related test services.



AMKOR TECHNOLOGY, INC.
Selected Operating Data


In this press release, we refer to EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, and our ability to service debt, fund capital expenditures and pay dividends. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.


Non-GAAP Financial Measures Reconciliation:
(in millions)Q4 2025Q3 2025Q4 202420252024
EBITDA Data:
Net income$173 $127 $106 $376 $356 
Plus: Interest expense21 21 17 75 65 
Plus: Income tax expense28 30 69 75 
Plus: Depreciation & amortization166 164 149 642 595 
EBITDA$369 $340 $302 $1,162 $1,091 


AMKOR TECHNOLOGY, INC.
Selected Operating Data


In this press release, we refer to free cash flow, which is not defined by U.S. GAAP. We define free cash flow as net cash provided by operating activities less payments for property, plant and equipment, plus proceeds from the sale of, insurance recovery for and grants for property, plant and equipment, if applicable. We believe free cash flow to be relevant and useful information to our investors because it provides them with additional information in assessing our liquidity, capital resources and financial operating results. Our management uses free cash flow in evaluating our liquidity, our ability to service debt, our ability to fund capital expenditures and our ability to pay dividends and the amount of dividends to be paid. However, free cash flow has certain limitations, including that it does not represent the residual cash flow available for discretionary expenditures since other, non-discretionary expenditures, such as mandatory debt service, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods. This measure should be considered in addition to, and not as a substitute for, or superior to, other measures of liquidity or financial performance prepared in accordance with U.S. GAAP, such as net cash provided by operating activities. Furthermore, our definition of free cash flow may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of free cash flow to U.S. GAAP net cash provided by operating activities.


Non-GAAP Financial Measures Reconciliation:
(in millions)20252024
Free Cash Flow Data:
Net cash provided by operating activities$1,096 $1,089 
Less: Payments for property, plant and equipment(905)(744)
Plus: Proceeds from sale of and grants for property, plant and equipment117 14 
Free cash flow$308 $359 




AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)

For the Three Months Ended December 31,For the Year Ended December 31,
2025202420252024
Net sales$1,888,046 $1,629,118 $6,707,981 $6,317,692 
Cost of sales1,573,417 1,382,408 5,769,382 5,384,480 
Gross profit314,629 246,710 938,599 933,212 
Selling, general and administrative92,930 69,427 304,471 331,806 
Research and development36,731 42,848 166,743 162,951 
Total operating expenses129,661 112,275 471,214 494,757 
Operating income184,968 134,435 467,385 438,455 
Interest expense20,594 17,079 75,444 64,945 
Other (income) expense, net(16,845)(18,233)(52,678)(57,506)
Total other (income) expense, net3,749 (1,154)22,766 7,439 
Income before taxes181,219 135,589 444,619 431,016 
Income tax expense8,690 29,788 68,503 75,481 
Net income172,529 105,801 376,116 355,535 
Net income attributable to noncontrolling interests(768)(152)(2,221)(1,523)
Net income attributable to Amkor$171,761 $105,649 $373,895 $354,012 
Net income attributable to Amkor per common share:
Basic$0.69 $0.43 $1.51 $1.44 
Diluted$0.69 $0.43 $1.50 $1.43 
Shares used in computing per common share amounts:
Basic247,221 246,654 247,082 246,344 
Diluted249,076 247,864 248,454 247,818 





AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
December 31,
20252024
ASSETS
Current assets:
Cash and cash equivalents$1,378,347 $1,133,553 
Short-term investments 613,038 512,984 
Accounts receivable, net of allowances 1,354,825 1,055,013 
Inventories437,797 310,910 
Other current assets100,754 61,012 
Total current assets3,884,761 3,073,472 
Property, plant and equipment, net3,870,808 3,576,148 
Operating lease right of use assets93,449 109,730 
Goodwill18,003 17,947 
Restricted cash67,776 759 
Other assets201,512 166,272 
Total assets$8,136,309 $6,944,328 
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt$162,430 $236,029 
Trade accounts payable912,766 712,887 
Capital expenditures payable243,543 123,195 
Short-term operating lease liability23,140 26,827 
Accrued expenses370,093 356,337 
Total current liabilities1,711,972 1,455,275 
Long-term debt1,282,816 923,431 
Pension and severance obligations69,218 70,594 
Long-term operating lease liabilities48,549 57,983 
Other non-current liabilities517,467 253,880 
Total liabilities3,630,022 2,761,163 
Amkor stockholders’ equity:
Preferred stock— — 
Common stock294 293 
Additional paid-in capital2,054,051 2,031,643 
Retained earnings2,627,038 2,335,132 
Accumulated other comprehensive income16,833 7,510 
Treasury stock(227,110)(225,033)
Total Amkor stockholders’ equity4,471,106 4,149,545 
Noncontrolling interests in subsidiaries35,181 33,620 
Total equity4,506,287 4,183,165 
Total liabilities and equity$8,136,309 $6,944,328 




AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

For the Year Ended December 31,
20252024
Cash flows from operating activities:
Net income$376,116 $355,535 
Depreciation and amortization642,008 594,663 
Other operating activities and non-cash items(37,545)25,303 
Changes in assets and liabilities115,027 113,367 
Net cash provided by operating activities1,095,606 1,088,868 
Cash flows from investing activities:
Payments for property, plant and equipment(904,614)(743,796)
Proceeds from sale of property, plant and equipment110,279 3,981 
Proceeds from foreign exchange forward contracts58,629 47,045 
Payments for foreign exchange forward contracts(63,781)(88,623)
Payments for short-term investments(828,392)(568,711)
Proceeds from sale of short-term investments306,494 65,502 
Proceeds from maturities of short-term investments429,952 474,097 
Other investing activities6,389 10,181 
Net cash used in investing activities(885,044)(800,324)
Cash flows from financing activities:
Proceeds from short-term debt— 5,012 
Payments of short-term debt— (9,731)
Proceeds from long-term debt1,096,067 172,651 
Payments of long-term debt(809,531)(177,214)
Payments of finance lease obligations(89,942)(72,255)
Payments of dividends(81,946)(178,605)
Other financing activities(15,948)(290)
Net cash provided by (used in) financing activities98,700 (260,432)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash2,549 (14,417)
Net increase in cash, cash equivalents and restricted cash311,811 13,695 
Cash, cash equivalents and restricted cash, beginning of period1,134,312 1,120,617 
Cash, cash equivalents and restricted cash, end of period$1,446,123 $1,134,312 



Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or “intend,” by the negative of these terms or other comparable terminology or by discussions of strategy, plans or intentions. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as may be required by applicable law. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements as a result of various factors, including, but not limited to, the following:

dependence on the cyclical and volatile semiconductor industry and vulnerability to industry downturns and declines in global economic and financial conditions;
changes in costs, quality, availability and delivery times of raw materials, components and equipment;
fluctuations in operating results and cash flows;
competition with established competitors in the packaging and test business, the internal capabilities of integrated device manufacturers and other competitors, including foundries and contract manufacturers;
our substantial investments in equipment and facilities to support the demand of our customers;
warranty claims, product return and liability risks, and the risk of negative publicity if our products fail, as well as the risk of litigation incident to our business;
difficulty achieving the relatively high-capacity utilization rates necessary to realize satisfactory gross margins given our high percentage of fixed costs;
our absence of backlog and the short-term nature of our customers’ commitments;
the historical downward pressure on the prices of our packaging and test services;
fluctuations in our manufacturing yields;
a downturn or lower sales to customers in the automotive industry;
dependence on key customers or concentration of customers in certain end markets, such as mobile communications and automotive;
difficulty funding our liquidity needs;
challenges with integrating diverse operations;
dependence on international factories and operations, and risks relating to trade restrictions and regional conflict, including restrictive trade barriers, export controls, tariffs, customs and duties;
our ability to develop new proprietary technology, protect our proprietary technology, operate without infringing the proprietary rights of others and implement new technologies;
our continuing development and implementation of changes to, and maintenance and security of, our information technology systems;
restrictive covenants in the indentures and agreements governing our current and future indebtedness;
our substantial indebtedness;
the effect of interest rate increases on our variable rate indebtedness;
fluctuations in interest rates and changes in credit risk;



the ability of certain of our stockholders to effectively determine or substantially influence the outcome of matters requiring stockholder approval;
the possibility that we may decrease or suspend our quarterly dividend;
difficulty attracting, retaining or replacing qualified personnel;
maintaining an effective system of internal controls;
any changes in tax laws, taxing authorities not agreeing with our interpretation of applicable tax laws, including whether we continue to qualify for conditional reduced tax rates, or any requirements to establish or adjust valuation allowances on deferred tax assets;
environmental, health and safety liabilities and expenditures;
conditions and obligations in connection with the receipt of government awards and incentives; and
natural disasters and other calamities, health conditions or pandemics, political instability, hostilities or other disruptions.


Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “Form 10-K”) and from time to time in our other reports filed with or furnished to the Securities and Exchange Commission (“SEC”). You should carefully consider the trends, risks and uncertainties described in this press release, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.


FAQ

How did Amkor Technology (AMKR) perform in Q4 2025?

Amkor reported Q4 2025 net sales of $1.89 billion, up 16% year-on-year, and net income of $172 million, or $0.69 per diluted share. Gross margin improved to 16.7%, and operating income reached $185 million, reflecting stronger profitability.

What were Amkor Technology (AMKR) full-year 2025 financial results?

For 2025, Amkor generated net sales of $6.71 billion, up 6% from 2024, and net income attributable to Amkor of $374 million, or $1.50 per diluted share. Full-year EBITDA was $1.16 billion, with free cash flow of $308 million and operating cash flow of $1.10 billion.

What guidance did Amkor Technology (AMKR) give for Q1 2026?

Amkor expects Q1 2026 net sales of $1.60–$1.70 billion, gross margin of 12.5%–13.5%, and net income of $45–$70 million, or $0.18–$0.28 per diluted share. It also projects full-year 2026 capital expenditures of about $2.5–$3.0 billion.

What is Amkor Technology (AMKR) saying about its dividend in this update?

Amkor’s board approved a 1% increase in the quarterly cash dividend, from $0.08269 to $0.08352 per share, effective with the dividend paid on December 23, 2025. Future dividends and payment dates remain subject to board approval.

What do Amkor Technology (AMKR) cash and debt levels look like at year-end 2025?

At December 31, 2025, Amkor held $1.99 billion in total cash and short-term investments, including $1.38 billion of cash and equivalents. Total debt was $1.45 billion, split between short-term borrowings and long-term debt on the balance sheet.

How are Amkor Technology (AMKR) sales distributed by product type and end market?

For 2025, Amkor’s net sales were $5.56 billion from advanced products and $1.15 billion from mainstream products. In Q4 2025, end-market mix was led by communications at 49% of sales, followed by computing at 19%, automotive/industrial/other at 18%, and consumer at 14%.

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Semiconductor Equipment & Materials
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TEMPE