Sk Hynix Inc. · KRX:000660
Sk Hynix — Q4 2025 Earnings Presentation
21 slides from Sk Hynix's earnings presentation, Jan 29, 2026
Slide 1: FY2025 Earnings
FY2025 Earnings 2026.01.29 | Investor Relations
Slide 2: Review of the FY2025 Q4 financial results has not been finalized
Review of the FY2025 Q4 financial results has not been finalized. Figures in this earnings release are subject to changes during the independent auditing process. All financial information contained in this document is based on consolidated K-IFRS. This material contains forward-looking statements w
Slide 3: Financial Results FY2025 Q4
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Slide 4: Revenue Analysis
Revenue Analysis FY2025 Q4 Revenue B/G Low-Single% ↑ QoQ KRW 32.83T ASP Mid-20% ↑ QoQ +34% QoQ / +66% YoY FY2025 Q3 Revenue B/G Approx. 10% ↑ QoQ KRW 24.45T ASP Low-30% ↑ QoQ * Solidigm results are consolidated 4
Slide 5: Profit Analysis – Operating Profit
Profit Analysis – Operating Profit From ’25 Q2 to ‘25 Q4 COGS 10,250 Operating Profit KRW 19.17T (QoQ +68% / YoY +137%) SG&A OP Margin 58% 3,407 D&A* 3,563 Improved DRAM & NAND profitability on back of sharp price increases 32,827 22,576 22,732 19,170 EBITDA KRW 22.73T (QoQ +52% / YoY +102%) EBITDA
Slide 6: Profit Analysis – Net Profit
Profit Analysis – Net Profit Non-operating Profit(Loss) KRW -1.52T Net Non- Tax Expense operating 2,407 Foreign currency related net loss KRW 0.17T Profit -1,516 Valuation gain on investment assets KRW 6.63T Loss on derivatives related to exchange rights on EB KRW 8.37T 19,170 17,653 15,246 Net Prof
Slide 7: Record high financial results
Record high financial results Simultaneously secured profitability and growth, by strengthening tech competitiveness and expanding high value-added product mix 97.1 +47% 66.2 47.2 +101% 23.5 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (Left) Revenue (Right) Operating Profit (Unit : KRW Trillio
Slide 8: World’s 1st HBM4 sample shipments in Mar. ’25
World’s 1st HBM4 sample shipments in Mar. ’25, and 1st in industry to secure mass production readiness in Sept. ‘25 Yr. ’25 HBM revenue more than doubled YoY Began mass production of 1cnm DDR5 with industry-leading performance and cost competitiveness Developed industry’s highest density 256GB DDR5
Slide 9: Financial Position
Financial Position ’24 Q4 ’25 Q3 ’25 Q4 Cash * KRW 14.16T KRW 27.85T KRW 34.94T Debt** KRW 22.68T KRW 24.08T KRW 22.25T 31% 29% Debt-to-Equity 25% 24% 18% Ratio ’24 Q4 ’25 Q1 ’25 Q2 ’25 Q3 ’25 Q4 12% 11% Net Debt-to-Equity 6% -4% -11% Ratio ’24 Q4 ’25 Q1 ’25 Q2 ’25 Q3 ’25 Q4 * Cash = Cash & Cash Equ
Slide 10: We Do Technology
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Slide 11: Market Outlook
Market Outlook Explosive SV-driven memory demand mitigated by Industry-wide capacity constraints DRAM Demand B/G NAND Demand B/G ’26; Over +20% YoY ’26; +High Teen% YoY Computing workloads shifting from high-perform. SV to distributed architectures, with the proliferation of AI inference demand Shor
Slide 12: Company Plan
Company Plan Continued supply tightness DRAM Q1 B/G: flat QoQ NAND Q1 B/G: Slight decrease QoQ, from high base of Q4 Maximize M15X production and accelerate tech (Incl. Solidigm) migration to advanced nodes Rapid progression of Yong-in Phase 1 Fab construction Cheong-ju P&T7 and Indiana Adv. PKG Fab
Slide 13: Capable of reliably delivering both HBM3E & HBM4
Capable of reliably delivering both HBM3E & HBM4 HBM4 mass production in progress in line with customer-agreed schedule Preparing to deliver optimized Custom HBM by strengthening collaboration with customers and partners Expanding production of high-value products including high-density SV DRAM Acce
Slide 14: Additional Shareholder Return Package
Additional Shareholder Return Package Additional Dividend Treasury Share Retirement Share Ratio Additional Div. KRW 1,500/sh Total Dividend Payout 2.1% FY25 DPS KRW 3,000/sh Annual Fixed Div.* (KRW 1,500/sh) 15M Shares (Closing price on 1/27) FY25 Final DPS** : KRW 1,875 Retire treasury shares equiv
Slide 15: We Do Technology
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Slide 16: Income Statement Profitability
Income Statement Profitability (Unit : KRW Billion) ’25 Q4 ’25 Q3 ’24 Q4 Q/Q Y/Y ‘24 Q4 ‘25 Q1 Q2 Q3 Q4 69% Revenue 32,827 24,449 19,767 +34% +66% 57% 57% 52% 54% Gross Margin Gross Profit 22,576 14,029 10,366 +61% +118% +11%p Operating Profit 19,170 11,383 8,083 +68% +137% 58% Operating 47% 41% 42%
Slide 17: Statement of Cash Flows
Statement of Cash Flows Net Cash Flow (Unit : KRW Billion) (Unit : KRW Billion) ’25 Q4 ’25 Q3 ’24 Q4 Beginning Cash Balance** 27,854 16,962 10,858 45 F/X Effect Changes in 2,122 1,549 Financing Activities CF from Operating Activities 20,939 14,368 11,081 Working Capital, etc Investing Activities Net
Slide 18: Revenue by Product / Revenue by Application
Revenue by Product Revenue by Application DRAM 100% 23% 50% 24,449 PC Server Graphics (incl. HBM) 19,767 20% Consumer Mobile 0% '24 Q4 '25 Q3 '25 Q4 24% NAND 76% 100% 78% 74% 50% (Unit : KRW Billion) USB, Card & Others Others Mobile NAND SSD (incl. discrete NAND for DRAM SSDs) 0% '24 Q4 '25 Q3 '25 Q
Slide 19: THE END
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Slide 20: [Attachment1] Statement of Financial Position
[Attachment1] Statement of Financial Position K-IFRS (KRW Billion) Q4'25 Q3'25 Q4'24 QoQ vs. Q4'24 Assets Current Assets 69,458 57,140 42,279 +12,319 +27,179 Cash & Cash Equivalents* 34,942 27,854 14,156 +7,088 +20,786 Accounts Receivables 18,199 14,312 13,019 +3,887 +5,180 Inventories 14,289 13,156
Slide 21: [Attachment2] Income Statement
[Attachment2] Income Statement K-IFRS (KRW Billion) Q4'25 Q3'25 Q4'24 QoQ YoY Revenue 32,827 24,449 19,767 +34% +66% Cost of Goods Sold 10,250 10,420 9,401 -2% +9% Gross Profit 22,576 14,029 10,366 +61% +118% SG&A Expenses 3,407 2,646 2,283 +29% +49% Operating Profit 19,170 11,383 8,083 +68% +137% N