ASE Technology Holding Co., Ltd. (ASX) vs Texas Instruments Incorporated (TXN)

ASE Technology Holding Co., Ltd. and Texas Instruments Incorporated are both Semiconductors companies. Texas Instruments Incorporated is the larger, with a market value of $249.3B against $96.9B — 2.6× the size. Texas Instruments Incorporated trades at the lower P/E: 41.9× against 50.0×. ASE Technology Holding Co., Ltd. grew revenue faster over the last twelve months: 19.5% against 16.7%. Texas Instruments Incorporated has the higher net margin (31.0% vs 8.44%) and the higher return on invested capital (18.1% vs 8.05%). Both pay a dividend; ASE Technology Holding Co., Ltd. yields more (3.67% vs 3.25%). Across the 22 metrics below, Texas Instruments Incorporated leads on 12 and ASE Technology Holding Co., Ltd. on 10.

Valuation

Metric ASX TXN Semiconductors median
P/E 49.97 41.88 49.41
P/S 4.41 13.04 8.58
P/B 8.53 14.08 5.49
Price to free cash flow n/m 47.02 47.02
EV/EBITDA 22.90 27.56 30.78
EV/Sales 4.59 13.40 8.79
Earnings yield 2.00% 2.39% 0.62%
Free cash flow yield (1.33%) 2.13% 0.59%

Profitability

Metric ASX TXN Semiconductors median
Gross margin 19.47% 58.33% 52.25%
Operating margin 9.85% 37.29% 4.85%
Net margin 8.44% 30.97% 4.77%
Free cash flow margin (5.21%) 27.72% 8.65%
Return on equity 0.00% 35.01% 3.11%
Return on assets 6.52% 17.01% 1.91%
Return on invested capital 8.05% 18.09% 2.46%

Growth

Metric ASX TXN Semiconductors median
Revenue growth (TTM) 19.52% 16.66% 16.66%
EPS growth (last fiscal year) 26.67% 4.81% —
Revenue growth, 5-year CAGR 3.91% 4.10% 5.60%
Net income growth, 5-year CAGR 5.84% (2.23%) 0.00%

Health

Metric ASX TXN Semiconductors median
Debt to equity 0.56 0.78 0.05
Current ratio 1.07 4.86 3.35
Net debt to EBITDA 1.01 1.14 0.58

Dividend

Metric ASX TXN Semiconductors median
Dividend yield 3.67% 3.25% 1.93%
Payout ratio 0.86 0.58 0.00

Size

Metric ASX TXN Semiconductors median
Market cap 96.92b 249.33b 5.67b

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