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ASE Technology Holding Co., Ltd.

ASX Technology Semiconductors

ASE Technology Holding Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $20.6 billion, up 13.3% from fiscal 2024.

Revenue
+35.7%
EPS
+126.5%
Free cash flow
−127.0%
Total debt
+33.9%

Quarter to September 2026, against a year earlier

31.46 1.74 +5.85%
Market cap
$65.6B
P/E
27.2×
Fwd P/E
31.6×
Dividend yield
1.39%
F-score
6/9
Altman Z
2.48
Beneish M
−2.98
Dividend safety
48/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 407.19
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 4 4 — 6 7 3 5 3 3 1 1 —
Insider Ownership 2.47%

Capital & Financial Ratios $m

Size
Market Cap 65,610.00
Revenue ttm 24,726.66
Net income ttm 2,928.43
Free cash flow ttm (2,495.12)
Net debt Q 6,761.96
Valuation
P/E 27.24
Forward P/E 31.60
Price / sales 2.76
Forward P/S Powerpack
Price / FCF 0.00
Price / book 5.80
Financial health
Current ratio Q 1.16
Debt / equity Q 0.71
Interest coverage Q 12.69
Growth
Revenue growth Q +35.74% (above 0%: growing)
Operating income growth Q +135.27% (above 0%: growing)
EPS, this year +127.45% (at or above 15%: strong)
EPS, next year A +60.45% (at or above 15%: strong)
Revenue, next year A +2,868.90% (at or above 10%: strong)
EPS, past 5 yrs +5.80%
EPS, next 5 yrs A +69.33% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 1.2×; over the ten years it ranged from 0.6× in 2022 to 4.7× in 2026.
P/E against its own 10 years 90.80%
10-year low 10-year high
P/S against its own 10 years 94.83%
10-year low 10-year high
P/B against its own 10 years 95.20%
10-year low 10-year high
EV/Sales against its own 10 years 94.87%
10-year low 10-year high

Dividends

Yield
1.39%
Annual rate
0.42
Payout ratio
38.4%
Growth, 2017–25
+5.56%/yr
  1. 0.23 ’17
  2. 0.14 ’18 −38
  3. 0.16 ’19 +12
  4. 0.14 ’20 −15
  5. 0.30 ’21 +121
  6. 0.47 ’22 +55
  7. 0.56 ’23 +20
  8. 0.32 ’24 −44
  9. 0.36 ’25 +13
  10. 8.75 ’26e +2359
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,331 2,619 3,195 3,378
Receivables 3,760 3,547 4,066 5,462
Inventory 1,947 1,748 2,093 3,121
Other 468 459 621 1,168
8,535 8,395 10,003 13,129
2023 2024 2025 Q'26
Payables 2,297 2,386 2,829 3,975
ST’ Debt 935 576 213 161
Other 1,020 893 1,008 —
7,370 7,149 7,921 11,358

Compound Annual Growth %

10y 5y 3y
Sales 9.06% 3.91% (1.96%)
Cash Flow 9.96% 11.15% 7.88%
Earnings 7.65% 5.84% (13.94%)
Book Value 8.77% 7.32% 4.85%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 0.34 Actual 0.37

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Mar 2024 0.10 0.08 Miss by 0.02
Dec 2025 0.20 0.21 Beat by 0.01
Jun 2026 0.23 0.29 Beat by 0.06
Sep 2026 0.34 0.37 Beat by 0.03
Dec 2026 0.42 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.20 0.29 0.39 — —
’25 0.10 0.11 0.16 0.21 0.57
’24 0.08 0.11 0.13 0.13 0.45
’23 0.09 0.12 0.13 0.21 0.52
’22 0.21 0.25 0.26 0.23 0.94
’21 0.14 0.16 0.23 0.50 1.03
’20 0.06 0.11 0.11 0.16 0.43
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 5,488 6,057 7,642 — —
’25 4,504 4,899 5,630 5,540 20,573
’24 4,223 4,333 4,963 4,639 18,158
’23 4,306 4,443 4,872 5,384 19,004
’22 5,155 5,455 6,206 5,016 21,831
’21 4,253 4,544 5,409 6,342 20,548
’20 3,232 3,603 4,201 5,950 16,986
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,150 1,494 1,546 — —
’25 607 1,239 540 2,148 4,535
’24 531 504 687 1,047 2,769
’23 1,012 511 613 1,601 3,737
’22 970 465 566 1,611 3,612
’21 561 656 543 1,187 2,946
’20 446 674 480 1,072 2,673
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (243) (1,042) (2,343) — —
’25 (498) (238) (1,032) 1,133 (672)
’24 133 58 72 109 306
’23 512 120 183 1,169 1,970
’22 357 (94) 38 972 1,238
’21 60 (7) (188) 583 375
’20 (5) 114 43 469 582
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 8,484 9,799 12,123 13,814 16,986 20,548 21,831 19,004 18,158 20,573 24,727 +10.3% 610,804 778,269 918,332 +254.7%
Gross margin, % 19.35 18.16 16.48 15.56 16.35 19.36 20.11 15.77 16.28 17.69 20.82 (1.7) pt
EBT 865 1,047 1,043 778 1,274 2,891 2,661 1,392 1,273 1,635 2,983 +7.3%
EBT margin, % 10.20 10.68 8.61 5.63 7.50 14.07 12.19 7.32 7.01 7.95 12.06 (2.2) pt
Net income 865 1,047 1,043 778 1,274 2,891 2,661 1,392 1,273 1,635 2,928 +7.3%
Per share, $
Per share, $ Revenue 4.43 4.80 5.71 6.54 7.96 9.55 10.21 8.85 8.41 9.48 10.91 +8.8%
Earnings 0.35 0.37 0.40 0.26 0.44 1.03 0.98 0.53 0.47 0.60 1.11 +6.1%
Cash flow 0.84 0.78 0.79 1.14 1.25 1.37 1.69 1.74 1.28 2.09 2.80 +10.7%
Capex (0.43) (0.39) (0.63) (0.92) (0.98) (1.19) (1.11) (0.82) (1.14) (2.40) (3.90) +21.1%
Free cash flow 0.41 0.40 0.16 0.23 0.27 0.17 0.58 0.92 0.14 (0.31) (1.10) n/m
Book value 2.69 3.33 3.37 3.37 3.87 4.49 4.77 4.79 4.83 5.41 6.27 +8.1%
Shares, m 1,916 2,040 2,123 2,113 2,133 2,153 2,137 2,148 2,159 2,171 2,218 +1.4%
Valuation, ×
Valuation, × P/E 14.46 16.55 9.38 21.38 13.27 7.44 6.39 16.34 21.89 26.39 27.24 15.3
P/S 1.15 1.38 0.66 0.85 0.73 0.82 0.61 1.03 1.20 1.70 2.76 1.0
P/B 1.89 1.99 1.11 1.65 1.51 1.74 1.31 1.90 2.08 2.97 5.80 1.8
EV/Sales 1.33 1.40 0.92 1.12 0.95 0.98 0.74 1.13 1.32 1.89 3.03 1.2
EV/FCF 5.31 5.04 9.48 35.94 32.63 77.55 15.03 11.75 129.95 (49.33) (28.32) 27.3
Cash, $m
Cash, $m Operating cash flow 1,608 1,600 1,669 2,417 2,673 2,946 3,612 3,737 2,769 4,535 6,338 +12.2%
Capex (819) (793) (1,334) (1,941) (2,091) (2,571) (2,374) (1,767) (2,463) (5,207) (8,833) +22.8%
Free cash flow 789 807 334 476 582 375 1,238 1,970 306 (672) (2,495) n/m
Balance, $m
Balance, $m Working capital 1,106 1,234 1,402 1,595 1,760 2,708 2,312 1,165 1,246 2,082 1,771 +7.3%
Net debt 1,493 242 3,140 3,789 3,735 3,418 2,700 1,930 2,218 3,843 6,762 +11.1%
Shareholders’ equity 5,150 6,792 7,155 7,115 8,253 9,667 10,194 10,279 10,438 11,751 14,208 +9.6%
Returns, %
Returns, % ROA 5.94 7.09 5.76 3.16 4.87 9.63 8.46 5.17 4.45 5.01 7.15 (0.9) pt
ROIC 7.52 7.59 5.36 4.46 6.57 10.90 12.81 6.96 6.07 6.57 8.45 (1.0) pt
ROE 12.90 13.84 12.28 7.99 12.50 24.20 20.15 11.31 9.53 11.50 0.00 (1.4) pt
People
People Employees 68,100 68,753 93,891 96,528 101,981 95,727 97,079 92,894 97,079 105,947 — +5.0%
Revenue/emp, $m 0.12 0.14 0.13 0.14 0.17 0.21 0.22 0.20 0.19 0.19 — +5.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

ASE Technology Holding Co., Ltd. vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
QCOM QUALCOMM Incorporated $167.4B 12.5× 13.2× −8.42% (below 0%: shrinking) n/m −23.95% (below 0%: shrinking) 50.75% 13.15% Compare
MRVL Marvell Technology, Inc. $117.1B 44.4× 109× +36.55% (above 0%: growing) +47.83% (above 0%: growing) +14.45% (above 0%: growing) 53.14% 16.78% Compare
ASX ASE Technology Holding Co., Ltd. $65.6B 27.2× 31.6× +35.74% (above 0%: growing) +126.53% (above 0%: growing) −127.04% (below 0%: shrinking) 22.10% 13.57%
NXPI NXP Semiconductors N.V. $61.6B 19.4× 17.8× +19.32% (above 0%: growing) +42.63% (above 0%: growing) +140.74% (above 0%: growing) 57.82% 32.44% Compare
MPWR Monolithic Power Systems, Inc. $55.2B 63.4× 56.0× +63.11% (above 0%: growing) +48.66% (above 0%: growing) +1,311.55% (above 0%: growing) 55.35% 29.75% Compare
STM STMicroelectronics N.V. $35.8B 70.6× 42.8× +17.89% (above 0%: growing) +16.07% (above 0%: growing) +107.00% (above 0%: growing) 37.29% 9.77% Compare
MCHP Microchip Technology Incorporated $35.2B 49.8× 35.7× +42.19% (above 0%: growing) +2,200.00% (above 0%: growing) +667.64% (above 0%: growing) 65.86% 28.65% Compare
UMC United Microelectronics Corporation $33.6B 12.6× 15.4× +17.66% (above 0%: growing) +2.90% (above 0%: growing) +74.50% (above 0%: growing) 33.95% 25.11% Compare
ALAB Astera Labs, Inc. $31.1B 68.8× 79.1× +153.67% (above 0%: growing) +94.44% (above 0%: growing) +103.24% (above 0%: growing) 72.28% 30.61% Compare
Median of peers $45.5B 47.1× 39.3× +27.94% +47.83% +105.12% 54.25% 26.88%

All 68 Semiconductors stocks →

ASE Technology Holding Co., Ltd. (ASX) Latest News

30 Oct

Impact 4 · · Zacks
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29 Oct

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Impact 3 · · Associated Press

28 Oct

Impact 4 · · TIKR

27 Oct

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26 Oct

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13 Oct

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6 Oct

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30 Sep

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29 Sep

Impact 3 · · ACCESS Newswire

28 Sep

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24 Sep

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10 Sep

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31 Aug

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24 Aug

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ASX metrics, ten years each

stockrow.com/ASX · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com