# 파워텍 (PTI) (6239.TW)
> 메모리 반도체 후공정에 특화한 대만 OSAT 세계 5위(점유 5.5%, 매출 $2.28B)로, 범용 로직 OSAT와 달리 메모리 IC 패키징(BGA·MCP·HBM 스태킹)에서 전문성을 쥔다. 마이크론·삼성·SK하이닉스의 메모리 조립·테스트를 대행해 이들 물량·가동률에 매출이 직결되고, HBM 스태킹 확대가 후공정 난이도와 단가를 함께 키운다. 관전점은 HBM 후공정 침투와 메모리 사이클이다.
Canonical: https://valuechain.wiki/powertech · Updated: 2026-07-12T06:15:33.804369+00:00 · Source: ValueChain.wiki (refined facts, cited)

**인용용 요약**: 밸류체인 그래프 기준 파워텍 (PTI)의 직접 연결 기업은 5곳(관계 기준 공급 2·매출 3)이고, 사슬을 2차까지 넓히면 13곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).

## Financials & segments
- 총매출: FY2025 매출 NT$749.3억(~$23.8억), 순이익 NT$72.2억, EPS NT$7.48
- 사업부문: 메모리 패키지·테스트 OSAT 세계 5위

## Annual stock return (as of 2026-07-09)
- 2021: +4.8%
- 2022: -7.5%
- 2023: +86%
- 2024: -16%
- 2025: +128.6%
- 2026 YTD: +26%

## Value-chain annual returns (top→bottom: demand → node → supply; YTD as of 2026-07-09)
| Company | Chain | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Dell | lead3 | +51.2% | -26.6% | +95.9% | +53% | +11.2% | +248.1% |
| Seagate | lead3 | +87.5% | -51.4% | +69.1% | +4.1% | +225.3% | +231.4% |
| Lenovo | lead3 | -4.6% | -20.9% | +36.2% | +18.2% | -0.6% | +175.7% |
| Nebius | lead3 | · | · | · | · | +202.2% | +162.4% |
| HPE | lead3 | +37.4% | +4.5% | +9.7% | +29.1% | +15.5% | +104% |
| TeraWulf | lead3 | +77.1% | -95.5% | +258.2% | +135.8% | +103% | +91.2% |
| Datadog | lead3 | +80.9% | -58.7% | +65.1% | +17.7% | -4.8% | +89.4% |
| LG전자 | lead3 | -16.2% | -20.9% | -5.8% | -9.5% | +19.2% | +85.5% |
| Eoptolink | lead3 | -10.1% | -27.7% | +136.6% | +197% | +368.8% | +74.9% |
| Aurora Innovation | lead3 | · | -89.3% | +261.2% | +44.2% | -39% | +66.1% |
| 교세라 | lead3 | +7.5% | -2.1% | +33.8% | -24% | +46.7% | +63% |
| CrowdStrike | lead3 | -3.3% | -48.6% | +142.5% | +34% | +37% | +59.7% |
| Mercury Systems | lead3 | -37.5% | -18.7% | -18.3% | +14.8% | +73.8% | +47.9% |
| 에이수스(ASUS) | lead3 | +35.5% | -12.9% | +72% | +41.1% | -14.1% | +46.7% |
| Wiwynn | lead3 | +24.7% | -22.3% | +206.4% | +3.5% | +64.4% | +45.1% |
| Illumina | lead3 | +2.8% | -46.9% | -31.1% | -1.3% | -1.8% | +45% |
| 기가바이트 | lead3 | +82.3% | -3.4% | +173.2% | -15.9% | -4.7% | +44.4% |
| Arista Networks | lead3 | +97.9% | -15.6% | +94.1% | +87.7% | +18.5% | +42.7% |
| Cloudflare | lead3 | +73% | -65.6% | +84.2% | +29.3% | +83.1% | +36.1% |
| Quanta | lead3 | +22.2% | -12.8% | +254.5% | +12.7% | +8.9% | +33.4% |
| CoreWeave | lead3 | · | · | · | · | · | +24.1% |
| SK텔레콤 | lead3 | +7.9% | -12% | +15.8% | +15.5% | +37.5% | +23.4% |
| Celestica | lead3 | +37.9% | +1.3% | +159.8% | +215.2% | +220.3% | +21.7% |
| Snowflake | lead3 | +20.4% | -57.6% | +38.6% | -22.4% | +42.1% | +19.2% |
| 지리자동차 | lead3 | -40.8% | -22.9% | -40.3% | +98.5% | +14.5% | +18.9% |
| 위스트론 | lead3 | +7.9% | +9.7% | +272.7% | -1.6% | +22.7% | +14.8% |
| 알파벳 (구글) | lead3 | +65.3% | -39.1% | +58.3% | +36% | +66% | +14.3% |
| Foxconn | lead3 | -5.1% | +2.8% | +7.8% | +80.1% | +26.9% | +10.9% |
| IREN | lead3 | · | -92.3% | +472% | +37.3% | +284.6% | +8.9% |
| 아마존 | lead3 | +2.4% | -49.6% | +80.9% | +44.4% | +5.2% | +6.3% |
| 메타 플랫폼스 | lead3 | +23.1% | -64.2% | +194.1% | +66% | +13.1% | +1.6% |
| Tempus AI | lead3 | · | · | · | · | +74.9% | -1.4% |
| IBM | lead3 | +16.7% | +10.6% | +21.8% | +39.3% | +38.2% | -1.6% |
| Super Micro | lead3 | +38.8% | +86.8% | +246.2% | +7.2% | -4% | -3.3% |
| 제너럴 모터스 | lead3 | +40.8% | -42.4% | +7.9% | +49.8% | +54.2% | -3.8% |
| IonQ | lead3 | · | -79.3% | +259.1% | +237.1% | +7.4% | -4.5% |
| Schrödinger | lead3 | -56% | -46.3% | +91.5% | -46.1% | -7.3% | -7.8% |
| 현대차 | lead3 | -16.7% | -4.7% | +16.2% | +12.3% | +158.8% | -7.8% |
| Uber | lead3 | -17.8% | -41% | +149% | -2% | +35.5% | -8.8% |
| Tesla | lead3 | +49.8% | -65% | +101.7% | +62.5% | +11.4% | -9.3% |
| Recursion Pharmaceuticals | lead3 | · | -55% | +27.9% | -31.4% | -39.5% | -13% |
| Toyota Motor Corporation | lead3 | +58.1% | -13.4% | +63% | +1.8% | +21.8% | -18.2% |
| 마이크로소프트 | lead3 | +52.5% | -28% | +58.2% | +12.9% | +15.6% | -20% |
| 알리바바 | lead3 | -49% | -25.8% | -10.8% | +11.8% | +75.8% | -22.7% |
| 텐센트 | lead3 | -28.6% | -14.2% | -28.7% | +49.8% | +52.1% | -23.2% |
| 바이두 | lead3 | · | -8.2% | -23.4% | -13.5% | +74.2% | -24.5% |
| Rigetti Computing | lead3 | · | -92.9% | +35.1% | +1449.2% | +45.2% | -25.3% |
| 샤오미 | lead3 | -43.9% | -21.1% | -4.6% | +209.7% | -6.9% | -27.2% |
| Oracle | lead3 | +36.9% | -4.6% | +30.9% | +60% | +18.1% | -27.4% |
| Palantir | lead3 | -22.7% | -64.7% | +167.4% | +340.5% | +135% | -28.7% |
| ServiceNow | lead3 | +17.9% | -40.2% | +82% | +50.1% | -27.7% | -29.7% |
| Kratos | lead3 | -29.3% | -46.8% | +96.6% | +30% | +187.8% | -36.5% |
| Pony.ai | lead3 | · | · | · | · | +1% | -54.6% |
| Marvell | lead2 | +84.6% | -57.5% | +63.7% | +83.8% | -22.8% | +177.8% |
| AMD | lead2 | +56.9% | -55% | +127.6% | -18.1% | +77.3% | +160.5% |
| 에버퓨어 (구 퓨어스토리지) | lead2 | +44% | -17.8% | +33.3% | +72.3% | +9.1% | +18.4% |
| Apple | lead2 | +34.6% | -26.4% | +49% | +30.7% | +9.1% | +16.2% |
| Broadcom | lead2 | +56.5% | -13.3% | +104.2% | +110.5% | +50.6% | +16% |
| NVIDIA | lead2 | +125.5% | -50.3% | +239% | +171.2% | +38.9% | +13.3% |
| Qualcomm | lead2 | +22.3% | -38.6% | +35.1% | +8.3% | +13.8% | +11.7% |
| Phison | lead2 | +26.8% | -10.7% | +45.1% | -6.7% | +418.3% | -6% |
| Micron Technology | lead1 | +24.2% | -45.9% | +71.9% | -1% | +240.2% | +243.3% |
| SK하이닉스 | lead1 | -0.4% | -25.6% | +53.9% | +48.6% | +361.1% | +140.3% |
| 삼성전자 | lead1 | -9% | -14.2% | +20.9% | -26.4% | +212.9% | +77.9% |
| 파워텍 (PTI) | node | +4.8% | -7.5% | +86% | -16% | +128.6% | +26% |
| Kulicke & Soffa | benef1 | +92.4% | -25.8% | +25.5% | -13.2% | -0.3% | +150.1% |
| Advantest | benef1 | +17% | -2.3% | +155.7% | +49.5% | +196% | +17.1% |

파워텍의 논점은 '메모리에 특화된 후공정 외주 레버리지'다. 범용 로직 OSAT와 달리 메모리 IC 패키징(BGA·MCP·HBM 스태킹)에 전문성이 있어, 마이크론·삼성·SK하이닉스의 메모리 출하·가동률에 매출이 직결된다. HBM 스태킹은 층수가 올라갈수록 수율·난이도가 급증해 단가·물량을 함께 키우는 구조적 수요이나, 고객이 메모리 3사로 좁아 사이클 변동을 그대로 얹는다 — 상승기엔 물량 레버리지가 먼저 붙는다. 리스크는 메모리 사이클과 고객 집중. 그래프 파급: 마이크론·삼성·SK하이닉스 메모리 물량이 수요를 끌고, Advantest·K&S 장비가 캐파의 상류 병목. (analysis as of 2026-07-09)

## Money in · revenue from (3)
### Micron Technology (high)  → /micron.md
- note: 마이크론 메모리의 패키징·테스트를 대행 — 메모리 3사 중 성장 탄력이 큰 고객으로 물량에 직결.
- [confirms] DigiTimes (EN, news, published 2026-04-29) https://www.digitimes.com/news/a20260429PD241/packaging-growth-testing-powertech-taiwan.html: "Powertech FY2025 revenue NT$74.93B (~$2.38B), net profit NT$7.22B, EPS NT$7.48; the world's leading memory packaging/test provider across DRAM, NAND and HBM; 2026 capex lifted to ~US$1.6bn for AI packaging."
- [mentions] TrendForce (EN, research, published 2025-11-10) https://www.trendforce.com/news/2025/11/10/news-tsmc-cowos-capacity-crunch-reportedly-pushes-u-s-ai-chipmakers-to-powertech-through-2027/: "TSMC CoWoS 캐파 부족으로 美 AI 칩사 물량이 2027년까지 파워텍으로 이전 — AMD·브로드컴이 FOPLP를 지원, 성장률 연 ~19% 전망."
- [confirms] 디지털투데이 (KO, news, published 2025-06-01) https://www.digitaltoday.co.kr/news/articleView.html?idxno=528364: "HBM 효과로 OSAT 실적 반등(PTI 등)"
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Micron Technology에 메모리 패키징·테스트 공급/제공."
- [confirms] 파워텍 (EN, ir, published 2025-05-01) https://www.pti.com.tw/en/: "Micron Technology에 메모리 패키징·테스트 공급/제공."
- [confirms] 회사 IR/거래소 공시 (EN, filing, published 2025-04-01) https://www.pti.com.tw/en/Investors/: "연차보고서: 매출·고객·사업."

### SK하이닉스 (mid)  → /sk-hynix.md
- note: SK하이닉스 메모리 후공정을 대행 — HBM 스태킹 확대가 난이도·단가를 높이는 대표 수요.
- [confirms] DigiTimes (EN, news, published 2026-04-29) https://www.digitimes.com/news/a20260429PD241/packaging-growth-testing-powertech-taiwan.html: "Powertech maintains close partnerships with major memory makers across DRAM, NAND and HBM packaging/test; FY2025 revenue NT$74.93B; HBM/FOPLP a growing AI revenue share."
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "SK하이닉스에 메모리 패키징·테스트 공급/제공."
- [confirms] 파워텍 (EN, ir, published 2025-05-01) https://www.pti.com.tw/en/: "SK하이닉스에 메모리 패키징·테스트 공급/제공."

### 삼성전자 (mid)  → /samsung-electronics.md
- note: 삼성전자 메모리의 패키징·테스트를 대행 — 팹 밖 후공정 외주라 삼성 메모리 물량이 곧 매출.
- [confirms] DigiTimes (EN, news, published 2026-04-29) https://www.digitimes.com/news/a20260429PD241/packaging-growth-testing-powertech-taiwan.html: "Powertech maintains close partnerships with major memory makers across DRAM, NAND and HBM packaging/test; FY2025 revenue NT$74.93B; HBM/FOPLP a growing AI revenue share."
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "삼성전자에 메모리 패키징·테스트 공급/제공."
- [confirms] 파워텍 (EN, ir, published 2025-05-01) https://www.pti.com.tw/en/: "삼성전자에 메모리 패키징·테스트 공급/제공."

## Money out · pays to (3)
### Advantest (mid)  → /advantest.md
- note: 어드밴테스트에서 테스트·본딩 장비를 조달 — 후공정 캐파 증설이 곧 장비 리드타임 병목.
- [confirms] DigiTimes (EN, news, published 2026-04-29) https://www.digitimes.com/news/a20260429PD241/packaging-growth-testing-powertech-taiwan.html: "PTI lifted 2026 capex to ~US$1.6bn for AI packaging/test; FOPLP yield reached 95% with mass production slated for 1H2027 — equipment lead time gates back-end capacity."
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Advantest에서 테스트·본딩 장비 매입."
- [confirms] 파워텍 (EN, ir, published 2025-05-01) https://www.pti.com.tw/en/: "Advantest에서 테스트·본딩 장비 매입."

### Kulicke & Soffa (mid)  → /kulicke-soffa.md
- note: 쿨리케앤소파에서 본딩 장비를 조달 — HBM 스태킹 등 첨단 패키징 캐파의 상류 장비 공급.
- [confirms] DigiTimes (EN, news, published 2026-04-29) https://www.digitimes.com/news/a20260429PD241/packaging-growth-testing-powertech-taiwan.html: "Advanced packaging (HBM stacking, FOPLP) depends on bonding equipment; K&S is a leading bonder supplier, its tools upstream of PTI's ~US$1.6bn 2026 capacity build."
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "Kulicke & Soffa에서 테스트·본딩 장비 매입."
- [confirms] 파워텍 (EN, ir, published 2025-05-01) https://www.pti.com.tw/en/: "Kulicke & Soffa에서 테스트·본딩 장비 매입."

### 원재료·소재·R&D (비공개) (low)
- note: 제조용 원재료·소재·R&D(비공개).
- [confirms] 트렌드포스 (EN, analysis, published 2025-05-13) https://www.trendforce.com/presscenter/news/20250513-12577.html: "제조용 원재료·소재·R&D(비공개)."

## 질문별 엔드포인트
- 누가 파워텍의 고객인가? 파워텍의 매출은 어디서 오는가? → https://valuechain.wiki/powertech/customers.md
- 파워텍의 주요 공급사는 어디인가? 파워텍의 비용은 누구에게 가는가? → https://valuechain.wiki/powertech/suppliers.md
- 파워텍 주가가 움직이면 누가 수혜를 보는가? 파워텍의 가치사슬 파급은 어디까지인가? → https://valuechain.wiki/powertech/ripple.md
- 증권가가 보는 파워텍: 목표주가와 투자의견은? → https://valuechain.wiki/powertech/consensus.md

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_Generated for LLM/agent consumption. Each edge lists stance (confirms/mentions/contradicts), source publisher, language, date, and excerpt for verification._