ASE Technology Holding Co (ASX) AI Stock Analysis

• Market Cap: $33.69B
• Dividend Yield: 2.59%
• Average Volume (3M): 7.29M
• Price to Earnings (P/E): 14.6
• Beta (1Y): 1.51
• Revenue Growth: 8.01%
• EPS Growth: 10.41%
• Country: US
• Employees: 96,436
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.16
• Shares Outstanding: 2,218,071,000
• 10 Day Avg. Volume: 8,519,553
• 30 Day Avg. Volume: 7,286,233
• PEG Ratio: 6.68
• Price to Book (P/B): 2.32
• Price to Sales (P/S): 1.25
• P/FCF Ratio: 81.71
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $15.50 ▲(19.32% Upside)

ASE Technology Holding Co's overall stock score is driven by solid financial performance and positive earnings call sentiment, despite concerns over negative free cash flow and high valuation. Technical indicators support a bullish trend, contributing positively to the score.

ASE Technology Holding Co Business Overview & Revenue Model

Company Description

ASE Technology Holding Co. is a leading provider of semiconductor packaging and testing services, primarily serving the global electronics industry. The company operates through various segments, including assembly and test services for integrated circuits, as well as providing advanced packaging solutions for a wide array of applications ranging from consumer electronics to automotive and industrial sectors. ASE is known for its commitment to innovation and quality, offering a diverse range of products that cater to the needs of its clients in a rapidly evolving technological landscape.

How the Company Makes Money

ASE Technology Holding Co. generates revenue primarily through its semiconductor packaging and testing services. The company's core revenue streams include the assembly and testing of integrated circuits, advanced packaging solutions, and related services. Key factors contributing to its earnings include the high demand for semiconductor components in various industries, such as consumer electronics, automotive, and telecommunications. ASE has established significant partnerships with major semiconductor manufacturers, allowing it to secure long-term contracts and a stable customer base. Additionally, the company's focus on research and development enables it to offer cutting-edge technologies, further enhancing its market position and revenue potential.

ASE Technology Holding Co Financial Statement Overview

Summary

ASE Technology Holding Co shows strong revenue growth and stable profitability, but there are concerns regarding operational efficiency and cash flow conversion. The balance sheet is solid with manageable leverage, but declining ROE suggests potential challenges in generating shareholder returns. Overall, the company is financially stable but faces some operational and cash flow challenges.

Income Statement

ASE Technology Holding Co has demonstrated consistent revenue growth, with a TTM revenue growth rate of 1.72%. The gross profit margin is stable at 16.68%, and the net profit margin is 5.48%, indicating moderate profitability. However, the EBIT and EBITDA margins have slightly declined compared to previous years, suggesting some pressure on operational efficiency.

Balance Sheet

The company maintains a reasonable debt-to-equity ratio of 0.79, reflecting a balanced approach to leverage. The return on equity is 11.02%, which is decent but has decreased from previous years. The equity ratio stands at 38.39%, indicating a solid equity base relative to total assets.

Cash Flow

The operating cash flow to net income ratio is 0.47, showing adequate cash generation relative to net income. However, the free cash flow is negative, which is a concern, and the free cash flow to net income ratio is -0.13, indicating challenges in converting earnings into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	621.27B	595.41B	581.91B	670.87B	570.00B	476.98B
Gross Profit	103.64B	96.93B	91.76B	134.93B	110.37B	77.98B
EBITDA	109.31B	108.30B	103.25B	138.85B	135.97B	89.38B
Net Income	34.05B	32.38B	31.73B	61.50B	60.15B	26.97B
Balance Sheet
Total Assets	765.17B	741.06B	666.58B	707.07B	672.93B	583.86B
Cash, Cash Equivalents and Short-Term Investments	76.90B	85.87B	71.37B	65.60B	79.15B	56.43B
Total Debt	230.99B	201.41B	179.22B	190.07B	215.68B	203.24B
Total Liabilities	450.24B	398.79B	348.47B	387.14B	398.30B	349.60B
Stockholders Equity	293.77B	320.03B	297.83B	301.29B	260.08B	218.63B
Cash Flow
Free Cash Flow	-19.71B	9.11B	60.26B	39.09B	12.38B	17.45B
Operating Cash Flow	114.12B	90.79B	114.42B	110.98B	81.69B	75.07B
Investing Cash Flow	-135.05B	-83.91B	-55.12B	-73.95B	-49.09B	-60.95B
Financing Cash Flow	44.23B	-7.27B	-49.10B	-62.46B	-5.81B	-22.00B

ASE Technology Holding Co Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 12.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASX, the sentiment is Neutral. The current price of 12.99 is below the 20-day moving average (MA) of 14.70, above the 50-day MA of 12.87, and above the 200-day MA of 10.46, indicating a neutral trend. The MACD of 0.38 indicates Positive momentum. The RSI at 46.74 is Neutral, neither overbought nor oversold. The STOCH value of 10.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ASX.

ASE Technology Holding Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASX	69 Neutral	$33.69B	14.61	11.17%	2.59%	8.01%	10.41%
AMKR	69 Neutral	$7.77B	24.73	7.27%	2.30%	0.13%	-16.17%
ON	68 Neutral	$18.56B	60.19	3.87%	―	-16.13%	-81.06%
UMC	63 Neutral	$18.28B	14.40	10.97%	6.79%	5.87%	-20.93%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
STM	57 Neutral	$19.89B	39.28	3.00%	1.63%	-17.33%	-76.71%
GFS	56 Neutral	$18.21B	―	-0.38%	―	0.25%	-106.22%

ASE Technology Holding Co Corporate Events

ASE Technology Reports October Revenue Growth in ATM Segment

On November 10, 2025, ASE Technology Holding Co., Ltd. announced its unaudited consolidated net revenues for October 2025. The company reported net revenues of NT$60,231 million (US$1,980 million), reflecting a slight sequential decline but a year-over-year increase. The ATM business saw a 3.0% sequential and 22.9% year-over-year growth, highlighting the company’s strong performance in this segment. This announcement underscores ASE’s resilience and growth in the semiconductor industry, despite market challenges.

ASE Technology Reports Strong Q3 2025 Earnings with Significant Revenue Growth

On October 30, 2025, ASE Technology Holding Co. reported its third-quarter earnings for 2025, revealing a 12% increase in total net revenues compared to the previous quarter, reaching NT$168,569 million. The company’s net income attributable to shareholders rose by 45% quarter-over-quarter, indicating a strong financial performance. The earnings report highlights ASE’s robust growth in both its ATM and EMS segments, with notable year-over-year improvements in operating income and gross profit. These results underscore ASE’s solid market positioning and its ability to navigate the competitive semiconductor industry effectively.

ASE Technology Announces Strong Q3 2025 Financial Results

ASE Technology Holding Co., Ltd. reported its unaudited financial results for the third quarter of 2025, showing a 5.3% year-over-year increase in net revenues to NT$168,569 million and a sequential rise of 11.8%. The company’s net income attributable to shareholders rose to NT$10,870 million, with basic earnings per share increasing to NT$2.50. Despite a net foreign exchange loss due to the appreciation of the U.S. dollar against the New Taiwan dollar, ASE Technology saw improvements in gross and operating margins, reflecting its robust operational performance.

ASE Technology Reports Strong Revenue Growth for September and Q3 2025

On October 9, 2025, ASE Technology Holding Co., Ltd. announced its unaudited consolidated net revenues for September and the third quarter of 2025. The company reported a 7.3% sequential increase and a 9.0% year-over-year increase in net revenues for September, with third-quarter revenues showing an 11.8% sequential rise and a 5.3% year-over-year growth. The ATM assembly, testing, and material business also saw significant growth, with September revenues increasing by 4.4% sequentially and 20.0% year-over-year. These results indicate a strong performance and positive momentum for ASE Technology in the semiconductor industry, potentially enhancing its market position and stakeholder confidence.

ASE Technology Reports Strong Revenue Growth for August 2025

On September 10, 2025, ASE Technology Holding Co., Ltd. announced its unaudited consolidated net revenues for August 2025, showing a significant increase. The company’s net revenues rose to NT$56,466 million, marking a 9.6% sequential increase and a 6.7% year-over-year growth. This growth reflects ASE’s strong positioning in the semiconductor industry and its ability to adapt to market demands, benefiting stakeholders by enhancing its financial performance.