SK hynix Inc. · Q2 2026

The quarter in short

Revenue $52.06B, up 256.8% year over year and 50.9% on the quarter. EPS $8.45, up 132.8% on the quarter. Free cash flow $35.93B, up 193.2% on the quarter.

What we learned

1. The June quarter's gross margin was 83.20% and free cash flow was $35.93 billion, a 69.0% margin. A semi-annual 6-K filed the same week as this piece disclosed the cost-of-sales and cash-flow data the article says does not yet exist for this quarter.
2. Net profit exceeded revenue because of ₩65.86 trillion of non-operating gains. SK hynix said most of that came from selling and revaluing investment assets rather than currency, on top of the ₩60.54 trillion of repeatable operating profit.
3. Full-year 2026 capex is now guided to the high ₩40 trillion range, up on an accelerated schedule. President Song Hyeon-jong called it a schedule acceleration and investment expansion — a bigger build than the ₩7.7 trillion March-quarter run rate implied.
4. SK hynix has finalized long-term supply agreements with about ten customers. Song Hyeon-jong said the LTAs lock in mid-to-long-term supply stability and next-generation roadmaps, not just volume — a hedge against the memory cycle the Rule of 40 score above cannot capture.

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