AUO Quarterly Income Statement Highlights

AUO Quarterly Income Statement Highlights

For the full year, AUO reported net income of TWD 6.9 billion ($216 million) on revenues of TWD 281.4 billion ($9.1 billion). This was the first year of net profits since 2021.

AUO reported a full-year operating loss of TWD 1.1 billion ($36 million), its fourth consecutive year of operating losses. Full-year margins improved by between 1% and 3%.

AUO Annual Income Statement Highlights

AUO Annual Income Statement Highlights

Starting in Q3 2024, AUO reclassified its revenues into new business segments – Mobility Solution, Vertical Solution, Display and Others.

• Mobility Solution consists of AUO's automotive display business, its recently-acquired Tier 1 auto supplier BHTC and Display HMI (human machine interface). Mobility solution revenues were up 8% QoQ and 2% YoY to TWD 20.3 billion ($654 million), 29% of total revenues.
• Vertical Solution consists of AUO's PID and General Display segment, plus Energy and Smart vertical businesses. Vertical solution revenues were flat QoQ but up 45% YoY to TWD 11.9 billion ($383 million), 17% of total revenues.
• Display includes AUO's TV, Monitor and Mobile PC and Device groups, plus LED and Systems DMS. Display revenues decreased 4% QoQ and 5% YoY to TWD 35.1 billion ($1.13 billion), 50% of total revenues.
• The remaining 5% of revenues primarily included Darwin. Other revenues were flat QoQ but decreased 18% YoY to TWD 2.8 billion ($90 million), 4% of total revenues.

AUO Quarterly Revenue by Business Segment

AUO inventory was up 1% QoQ and inventory days increased from 52 to 53. AUO debt decreased 15% in the quarter in TWD terms to TWD 100 billion, and decreased 18% QoQ in $ terms to $3.2 billion. Equity increased 4% QoQ in TWD terms to $163.8 billion.

Debt/equity decreased from 75% to 61% and net debt/equity decreased QoQ from 39% to 27%. As of February 10, 2026, AUO had a market capitalization of TWD 112.4 billion, for a price-to-book ratio of 0.69 (up from 0.61 QoQ). AUO's debt-to-market equity is 89% and its net debt-to-market equity is 57%.

AUO had capital expenditures of TWD 3.9 billion ($121 million), flat QoQ and down 46% YoY, and much less than depreciation of TWD 7.6 billion. AUO recorded a positive cash flow of TWD 2.9 billion ($94 million) from operations but a negative free cash flow of TWD 0.8 billion ($27 million).

AUO issued the following guidance for Q1 2026:

• Mobility solution: Up high single-digit % QoQ
• Vertical solution: Flat to down slightly QoQ
• Display: Moderate decline QoQ due to seasonality

AUO’s guidance implies Q1 revenues down in the low single digits % QoQ, or roughly TWD 68 billion.

Final comments

The longer-term annual results charts show a continuing decay in revenues over the last decade. AUO managed to report net profits only when it sold off fully depreciated assets. The company has not yet found a path to consistent profitability in its operations.