ASE Technology Holding Co., Ltd. (ASX) is listed on NYSE and operates in the Semiconductors industry (Technology sector).
ASE Technology Holding Co., Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions. The company also provides advanced packages, such as flip chip BGA; heat-spreader FCBGA; flip-chip CSP; hybrid FCCSP; flip chip package in package and package on package (POP); advanced single sided substrate; high-bandwidth POP; fan-out wafer-level packaging; SESUB; and 2.5D silicon interposer. In addition, it offers IC wire bonding packages; system-in-package products (SiP) and modules; and interconnect materials, as well as assembles automotive electronic products. Further, the company provides a range of semiconductor testing services, including front-end engineering testing, wafer probing, logic/mixed-signal/RF module and SiP/MEMS/discrete final testing, and other test-related services, as well as drop shipment services. Additionally, it develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, inv...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 4 |
| Hold | 0 |
| Sell | 1 |
| Strong Sell | 0 |
ASE Technology Holding Co., Ltd., established in 1984 and headquartered in Kaohsiung, Taiwan, operates in the semiconductor industry, providing packaging, testing, and electronic manufacturing services globally, including in the United States, Taiwan, Asia, and Europe. The company offers a variety of semiconductor packaging solutions such as flip chip ball grid array (BGA), chip scale packages (CSP), quad flat packages, and 3D chip packages. It also provides advanced packaging options like fan-out wafer-level packaging and 2.5D silicon interposer. ASE Technology offers semiconductor testing services, including front-end engineering testing, wafer probing, and final testing for logic, mixed-signal, RF modules, and system-in-package (SiP) products. Additionally, the company engages in the assembly of automotive electronic products and the production of substrates. Beyond its core semiconductor services, ASE Technology is involved in real estate development, leasing, and management, as well as offering information software, equipment leasing, and warehousing management services. The company also processes and sells computer peripherals, electronic components, and telecommunications equipment, and engages in import and export activities.
Over the past three fiscal years, the company demonstrated consistent revenue growth, with a compound annual growth rate (CAGR) of 6.3%, increasing from TWD 574.2 billion in 2023 to TWD 648.9 billion in 2025. This revenue expansion was accompanied by a notable improvement in gross margins, which increased by 2.8 percentage points from 14.9% to 17.7%, indicating enhanced production efficiency or pricing power. However, operating margins showed inconsistency, ending slightly higher at 7.9% in 2025, while net margins consistently improved by 0.8 percentage points to 6.3%, reflecting better cost management or a favorable tax environment. Despite the revenue and margin improvements, free cash flow (FCF) experienced a significant decline, turning negative in 2025 at -TWD 20 billion, down from TWD 51.1 billion in 2023, primarily due to increased capital expenditures, as evidenced by the rising capex intensity to 25.1%. This deterioration in FCF was mirrored in the FCF margin, which decreased by 12 percentage points to -3.1%. The company's net debt position worsened, increasing by 23.8% CAGR to TWD 171.6 billion, suggesting higher leverage or reduced cash reserves. Despite these challenges, earnings per share (EPS) grew at a robust 13.4% CAGR, reaching TWD 18.46, although this was partially offset by a 1.9% increase in share count, which diluted per-share gains. The company's cash conversion ratio remained strong at 3.52, indicating that earnings were well-supported by cash flows, despite the negative FCF.
ASE Technology Holding Co., Ltd. has recently reported its financial performance, revealing mixed results. In Q1 2026, the company announced net revenues of NT$173,662 million (approximately US$5,508 million), marking a sequential decline of 2.2% from the previous quarter and a year-over-year increase of 2.7%. Earlier, the company reported February 2026 revenues of US$1,653 million, a 13.3% decrease from January 2026, but a 20.3% increase compared to February 2025. January 2026 revenues showed a slight sequential increase of 1.5% from December 2025. Additionally, ASE Technology's stock reached a new 52-week high, trading as high as $27, with a 50-day moving average of $22 and a 200-day moving average of $17, suggesting strong market performance. The company also filed its 2025 annual report on Form 20-F, making audited financial statements available to shareholders. These developments indicate a period of financial fluctuation for ASE Technology, with notable market confidence reflected in its stock performance despite revenue challenges.