Bit Market · Q3 2026 · SK hynix

SK hynix 3Q 2026

Revenue passed 100 trillion won for the first time at an 80% operating margin, and long-term deals now cover more than half of its 2027 and 2028 capacity.

Revenue: $73.8B; 3Q 2026, filed ₩104.6155T
Operating income: $58.8B; 3Q 2026, filed ₩83.3338T
Operating margin: 80%; 3Q 2026

SK hynix across the Earnings Desk charts

SK hynix’s third quarter of 2026 is one of the company notes in the Q3 2026 Earnings Desk roundup, which sets each memory maker’s July to September figures side by side. Revenue passed 100 trillion won for the first time, the operating margin was 80%, and SK hynix says the prices of its key products rose on demand for AI memory. The question for a flash reader is how much of that reaches NAND and the drive you buy. The release gives no NAND bit shipments or prices, so it answers only part of it. It does say sales of enterprise SSDs grew, and that long-term agreements now cover more than half of its 2027 and 2028 capacity. For how supply, demand and prices fit together across the industry, see The Memory Cycle.

What happened

SK hynix’s third quarter of 2026 was a record. Revenue passed 100 trillion won for the first time, up 32% from the second quarter, and operating profit rose 38%. The operating margin was 80%, from 76% in the second quarter.

What happened

SK hynix’s operating margin rose from 76% to 80%

Revenue passed 100 trillion won for the first time in the third quarter

Operating margin as SK hynix states it in its second and third quarter 2026 results releases. Source: SK hynix newsroom, 2Q26 and 3Q26 financial results.

SK hynix says the prices of its key products rose on demand for AI memory.

What it means for flash

In NAND, sales of its 321-layer TLC enterprise SSDs grew, along with its other data center products. In the fourth quarter it plans to raise the 321-layer process to more than half of its domestic NAND production capacity, to supply more high-capacity enterprise SSDs.

What it means for flash

The 321-layer process is set to pass half of domestic NAND capacity

SK hynix’s fourth quarter 2026 plan, as stated in its third quarter release

Segment widths are not to scale; only more than half is stated. Source: SK hynix newsroom, 3Q26 financial results.

The release gives no NAND bit shipments or prices, so it doesn’t show how much of the quarter’s growth came from flash.

What it means for the drive you buy

SK hynix has signed long-term agreements with 14 major customers that cover more than 50% of its production capacity for 2027 and 2028, with prices set inside an agreed range. The release doesn’t split those agreements between DRAM and NAND, and prices can still move within the range. My reading is that capacity committed this far ahead leaves less room for supply to loosen, so this quarter gives little sign of cheaper SSDs soon.

What it means for the drive you buy

Long-term agreements cover more than half of 2027 and 2028 capacity

SK hynix’s agreements with 14 major customers, as stated in its third quarter release

Segment widths are not to scale; only more than 50% is stated. Source: SK hynix newsroom, 3Q26 financial results.

Company-reported results, explained. Not investment advice.

The figures

SK hynix quarter by quarter, each bar as filed, the latest quarter filled.

RevenueK-IFRS

Operating incomeK-IFRS

Operating marginK-IFRS

Against its group

SK hynix beside the other memory makers that have filed Q3 2026.

Revenue is in US dollars so every company shares one axis, converted at the Federal Reserve’s average rate for the quarter. Each bar is the company’s own quarter that falls in these months. The group report reads them together.

Each company’s own quarter that falls in these months; non-dollar revenue converted at the Federal Reserve H.10 average for the quarter; a dashed bar is preliminary. Source: Company releases; Federal Reserve H.10 via FRED.

Each company’s own quarter that falls in these months; a loss draws left of zero; a dashed bar is preliminary. Source: Company releases.

Company	Period	Revenue	Operating income	Operating margin	Capex / revenue	NAND share	Revenue, year on year	Revenue, last four quarters
Micron	FQ4 2026Jun–Aug	$54.229BGAAP	$43.751BGAAP	80.7%GAAP	19.9%net of incentives	26%GAAP	up 379.3%filed currency	$133.2BUS dollars
Samsung Electronics	3Q 2026Jul–Sep	$137.8Bfiled ₩195.3T, K-IFRS	$75.8Bfiled ₩107.4T, K-IFRS	55.0%K-IFRS	–	–	up 126.9%filed currency	$408.2BUS dollars
SK hynix	3Q 2026Jul–Sep	$73.8Bfiled ₩104.6155T, K-IFRS	$58.8Bfiled ₩83.3338T, K-IFRS	80%K-IFRS	–	–	up 327.9%filed currency	$185.2BUS dollars
CXMT (ChangXin Memory)	3Q 2026Jul–Sep	$17.6Bfiled CN¥118.71403B, CAS	$14.7Bfiled CN¥99.03947B, CAS	–	–	–	–	–

Under each period are the months it mostly covers. Year-on-year growth compares a company’s quarter with its same quarter a year earlier, in the currency it files in. The last four quarters add each quarter’s revenue in US dollars, shown where all four are filed.

Won, yen, New Taiwan dollar and yuan figures are converted to US dollars at the Federal Reserve H.10 average for the calendar quarter; the filed figure is under each.

Sources

Primary is the original paper, standard or datasheet. Secondary is a review, a vendor summary or a news report. Measured is my own test data.

Show all 2 sources, 2 primary

PrimarySK hynix Announces 2Q26 Financial ResultsSK hynix Newsroom
PrimarySK hynix Announces 3Q26 Financial ResultsSK hynix Newsroom