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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. In the quarter to June 2026, revenue grew 23.6%, EPS grew 172.7%, free cash flow fell 338.0% and total debt rose 20.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

39.53 2.36 −5.63%
Market cap
$92.1B
P/E
44.4×
Fwd P/E
34.1×
Dividend yield
1.06%
F-score
6/9
Altman Z
2.48
Beneish M
−2.98
Dividend safety
48/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 407.19
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 4 4 — 6 7 3 5 3 3 1 1
Insider Ownership 2.35%

Capital & Financial Ratios $m

Market Cap 92,110.00
Revenue 22,714.63
Net Income 2,406.20
Free Cash Flow (1,183.85)
Net Debt 4,089.36
Current Ratio 1.07
Debt/Equity 0.56
P/E ratio 44.42 (above 35: high)
Fwd P/E 34.10
P/S ratio 3.92
P/B ratio 7.58 (above 6: high)
Past 5Y EPS Growth 5.80%
This Y EPS Growth 110.31% (at or above 15%: strong)
Next Y EPS Growth 54.27% (at or above 15%: strong)
Next Y revenue growth 2,734.11% (at or above 10%: strong)
Next 5Y EPS Growth 61.87% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.1×, 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 97.01%
10-year low 10-year high
P/S against its own 10 years 98.08%
10-year low 10-year high
P/B against its own 10 years 98.38%
10-year low 10-year high
EV/Sales against its own 10 years 98.16%
10-year low 10-year high

Dividends

Payout Ratio 0.49
Annual Dividend Rate 0.42
Annual Dividend Yield 1.06%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 6.72
0.42
2025 3.91
0.36
2024 0.32
0.32
2023 0.56
0.56
2022 0.47
0.47
2021 0.30
0.30
2020 0.14
0.14
2019 0.16
0.16
2018 0.14
0.14
2017 0.23
0.23
2016 0.25
0.25
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,331 2,619 3,195 3,404
Receivables 3,760 3,547 4,066 4,543
Inventory 1,947 1,748 2,093 2,735
Other 468 459 621 743
8,535 8,395 10,003 11,425
2023 2024 2025 Q'26
Payables 2,297 2,386 2,829 3,155
ST’ Debt 935 576 213 374
Other 1,020 893 1,008 5,244
7,370 7,149 7,921 10,677

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%

Revenue $m

Mar Jun Sep Dec Year
’26 5,488 6,057 — — —
’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 — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.20 0.29 — — —
’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 0.46
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 4.39 5.04 3.51 3.46 3.17 5.92 4.45 6.21 8.10 6.94

Analyst estimates 2026–2028

Powerpack
High 6.23 7.52 8.00 5.70 5.94 9.62 8.15 9.55 12.86 16.51
People
People Employees 68,100 68,753 93,891 96,528 101,981 95,727 97,079 92,894 97,079 105,947
Revenue/emp, $m 0.12 0.14 0.13 0.14 0.17 0.21 0.22 0.20 0.19 0.19
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
Gross margin, % 19.35 18.16 16.48 15.56 16.35 19.36 20.11 15.77 16.28 17.69
EBT 865 1,047 1,043 778 1,274 2,891 2,661 1,392 1,273 1,635
EBT margin, % 10.20 10.68 8.61 5.63 7.50 14.07 12.19 7.32 7.01 7.95
Net income 865 1,047 1,043 778 1,274 2,891 2,661 1,392 1,273 1,635
Depreciation 908 985 1,395 1,687 1,825 1,966 1,804 1,898 1,824 2,150
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
Earnings 0.35 0.37 0.40 0.26 0.44 1.03 0.98 0.47 0.47 0.60
Cash flow 0.84 0.78 0.79 1.14 1.25 1.37 1.69 1.74 1.28 2.09
Capex (0.43) (0.39) (0.63) (0.92) (0.98) (1.19) (1.11) (0.82) (1.14) (2.40)
Free cash flow 0.41 0.40 0.16 0.23 0.27 0.17 0.58 0.92 0.14 (0.31)
Book value 2.69 3.33 3.37 3.37 3.87 4.49 4.77 4.79 4.83 5.41
Shares, m 1,916 2,040 2,123 2,113 2,133 2,153 2,137 2,148 2,159 2,171
Valuation, ×
Valuation, × P/E 14.46 16.55 9.38 21.38 13.27 7.44 6.39 16.34 21.89 26.39
P/S 1.15 1.38 0.66 0.85 0.73 0.82 0.61 1.03 1.20 1.70
P/B 1.89 1.99 1.11 1.65 1.51 1.74 1.31 1.90 2.08 2.97
EV/Sales 1.33 1.40 0.92 1.12 0.95 0.98 0.74 1.13 1.32 1.89
EV/FCF 5.31 5.04 9.48 35.94 32.63 77.55 15.03 11.75 129.95 (49.33)
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
Capex (819) (793) (1,334) (1,941) (2,091) (2,571) (2,374) (1,767) (2,463) (5,207)
Free cash flow 789 807 334 476 582 375 1,238 1,970 306 (672)
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
Total debt 2,781 1,975 5,060 5,938 5,725 6,271 4,811 4,261 4,837 7,038
Net debt 1,493 242 3,140 3,789 3,735 3,418 2,700 1,930 2,218 3,843
Shareholders’ equity 5,150 6,792 7,155 7,115 8,253 9,667 10,194 10,279 10,438 11,751
Returns, %
Returns, % ROA 5.94 7.09 5.76 3.16 4.87 9.63 8.46 5.17 4.45 5.01
ROIC 7.52 7.59 5.36 4.46 6.57 10.90 12.81 6.96 6.07 6.57
ROE 12.90 13.84 12.28 7.99 12.50 24.20 20.15 11.31 9.53 11.50
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
ADI Analog Devices, Inc. $195.7B 46.7× — (loss-making) +39.63% (above 0%: growing) +162.86% (above 0%: growing) +34.29% (above 0%: growing) 67.32% 40.10% Compare
QCOM QUALCOMM Incorporated $190.5B 19.7× 17.1× −4.03% (below 0%: shrinking) −22.54% (below 0%: shrinking) −80.82% (below 0%: shrinking) 53.05% 16.35% Compare
ASX ASE Technology Holding Co., Ltd. $92.1B 44.4× 34.1× +23.62% (above 0%: growing) +172.73% (above 0%: growing) −338.02% (below 0%: shrinking) 21.01% 11.06%
MPWR Monolithic Power Systems, Inc. $61.4B 73.8× 76.7× +47.56% (above 0%: growing) +87.81% (above 0%: growing) −61.46% (below 0%: shrinking) 55.18% 30.99% Compare
NXPI NXP Semiconductors N.V. $58.3B 19.5× 20.8× +19.48% (above 0%: growing) +72.73% (above 0%: growing) +14.42% (above 0%: growing) 57.27% 30.64% Compare
UMC United Microelectronics Corporation $52.6B 18.5× 30.1× +14.10% (above 0%: growing) +350.00% (above 0%: growing) +67.75% (above 0%: growing) 32.48% 21.75% Compare
ALAB Astera Labs, Inc. $52.4B 132× 153× +104.45% (above 0%: growing) +187.10% (above 0%: growing) −49.60% (below 0%: shrinking) 73.28% 22.74% Compare
STM STMicroelectronics N.V. $41.6B 85.6× 64.9× +26.07% (above 0%: growing) n/m +107.00% (above 0%: growing) 34.84% 5.36% Compare
MCHP Microchip Technology Incorporated $40.3B 110× 51.2× +38.05% (above 0%: growing) n/m +93.09% (above 0%: growing) 63.24% 22.68% Compare
Median of peers $55.4B 60.2× 51.2× +32.06% +125.34% +24.36% 56.22% 22.71%

All 67 Semiconductors stocks →

ASE Technology Holding Co., Ltd. (ASX) key facts

  • Strength: ASE Technology Holding Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $20.6 billion, up 13.3% from fiscal 2024.
  • ASE Technology Holding Co., Ltd. (ASX) is a Semiconductors company in the Technology sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, ASX traded at $39.53, a market capitalization of $92.1 billion.
  • ASE Technology Holding Co., Ltd. pays an annual dividend of $0.42 per share, a yield of 1.06%, with a payout ratio of 48.5%.
  • Return on equity was 11.5% and debt-to-equity 0.56.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.48 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/ASX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com