Analog Devices, Inc. (ADI) vs ASE Technology Holding Co., Ltd. (ASX)

Analog Devices, Inc. and ASE Technology Holding Co., Ltd. are both Semiconductors companies. Analog Devices, Inc. is the larger, with a market value of $186.8B against $96.9B — 1.9× the size. Analog Devices, Inc. trades at the lower P/E: 46.5× against 50.0×. Analog Devices, Inc. grew revenue faster over the last twelve months: 33.7% against 19.5%. Analog Devices, Inc. has the higher net margin (29.8% vs 8.44%) and the lower return on invested capital (7.84% vs 8.05%). Both pay a dividend; ASE Technology Holding Co., Ltd. yields more (3.67% vs 1.93%). Across the 22 metrics below, Analog Devices, Inc. leads on 17 and ASE Technology Holding Co., Ltd. on 5.

Valuation

Metric ADI ASX Semiconductors median
P/E 46.47 49.97 49.41
P/S 13.78 4.41 8.58
P/B 5.70 8.53 5.49
Price to free cash flow 38.74 n/m 47.02
EV/EBITDA 28.54 22.90 30.78
EV/Sales 14.20 4.59 8.79
Earnings yield 2.15% 2.00% 0.62%
Free cash flow yield 2.58% (1.33%) 0.59%

Profitability

Metric ADI ASX Semiconductors median
Gross margin 65.80% 19.47% 52.25%
Operating margin 35.55% 9.85% 4.85%
Net margin 29.79% 8.44% 4.77%
Free cash flow margin 35.57% (5.21%) 8.65%
Return on equity 12.23% 0.00% 3.11%
Return on assets 8.56% 6.52% 1.91%
Return on invested capital 7.84% 8.05% 2.46%

Growth

Metric ADI ASX Semiconductors median
Revenue growth (TTM) 33.65% 19.52% 16.66%
EPS growth (last fiscal year) 39.02% 26.67% —
Revenue growth, 5-year CAGR 14.49% 3.91% 5.60%
Net income growth, 5-year CAGR 13.18% 5.84% 0.00%

Health

Metric ADI ASX Semiconductors median
Debt to equity 0.24 0.56 0.05
Current ratio 1.25 1.07 3.35
Net debt to EBITDA 0.91 1.01 0.58

Dividend

Metric ADI ASX Semiconductors median
Dividend yield 1.93% 3.67% 1.93%
Payout ratio 0.44 0.86 0.00

Size

Metric ADI ASX Semiconductors median
Market cap 186.76b 96.92b 5.67b

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