As of the end of last year, SK hynix's cash and cash equivalents stood at 3.49423 trillion won. They increased 146.8% (2.07859 trillion won) in one year, leaving the company with more cash than borrowing fund. As performance grew through businesses such as high-bandwidth memory (HBM) in the U.S. market, financial soundness improved significantly.
According to the "2025 business report" disclosed by SK hynix on the 17th, the company's borrowing fund totaled 2.22479 trillion won as of the end of last year. That was down about 435.8 billion won from a year earlier. As a result, the liability ratio fell to 45.95% from 62.15%.
SK hynix, which had been in a net debt position since the second quarter of 2019, achieved "net cash," with cash and cash equivalents exceeding borrowing fund, in the third quarter of last year for the first time. As results grew in the fourth quarter of last year, cash increased by nearly 700 billion won in just one quarter.
According to the business report, the U.S. sales subsidiary "SK hynix America" posted annual revenue of 5.86933 trillion won and net profit of 235.9 billion won last year. That was a 75.4% increase from the prior year's revenue (3.34590 trillion won). In the United States, SK hynix counts Nvidia, AMD, Google and Meta among its major customers.
Including the U.S. sales subsidiary, last year's revenue generated in the United States was 6.68851 trillion won, accounting for 68.9% of last year's total revenue (about 9.7 trillion won). From 2020 to 2023, the U.S. share of SK hynix's total revenue was about 39% to 53%. Revenue from the China business also increased, from 1.55336 trillion won in 2024 to 1.91362 trillion won last year.
SK hynix is estimated to have generated 2.32601 trillion won in revenue from Nvidia last year. That was about 23.9% of the company's total revenue over the same period. As a key partner of Nvidia, SK hynix supplied most of the volume of fifth-generation HBM (HBM3E). It also plans to supply sixth-generation HBM (HBM4) to Nvidia in large quantities.