ASE Technology Holding Co., Ltd. (ASX) AI Stock Analysis

ASE Technology Holding Co., Ltd. is a provider of comprehensive semiconductor packaging, testing, and electronic manufacturing services across the United States, Taiwan, Asia, Europe, and other regions. Headquartered in Kaohsiung, Taiwan, the company specializes in advanced packaging solutions, including flip chip ball grid array, chip scale packages, stacked die configurations, and 3D chip packages, alongside wire bonding. It also offers semiconductor testing services covering front-end engineering testing, wafer probing, and final testing, as well as system-in-package and module assembly. Beyond core operations, ASE engages in real estate development, property management, substrate production, software, equipment leasing, investment advisory services, and warehousing.

Revenue grew at a 5-year CAGR of 7.4% from FY2020 to FY2025. After revenue fell 15.5% in FY2023 to $574.18B, top-line performance recovered with 5.8% growth in FY2024 to $607.72B and 6.8% growth in FY2025 to $648.92B. Gross margin expanded from 15.4% in FY2024 to 17.7% in FY2025, while operating margin rose to 7.9% and net income reached $40.88B. For the trailing twelve months, revenue was $711.21B with an operating margin of 11.1% and diluted EPS of $0.84. In the latest quarter ended June 30, 2026, quarterly revenue grew 26.7% year-over-year, and quarterly earnings grew 171.2%.

As of June 30, 2026, ASE Technology held $107.37B in cash and short-term investments against $296.44B in total debt, resulting in net debt of $189.06B. Total assets stood at $1.07T and shareholders' equity was $389.20B, yielding a debt-to-equity ratio of 0.76 and a current ratio of 1.07. In FY2025, operating cash flow reached $143.03B, but capital expenditures of $163.04B led to free cash flow of -$20.01B. Financing activities in FY2025 included $23.16B in dividends paid and $3.48B in share issuance.

At $39.53, ASX has a market capitalization of $86.92B and an enterprise value of $118.28B. Its trailing P/E of 47.1x is higher than the 28.1x median of its US-listed Technology peers, while its forward P/E of 12.3x is below the peer median of 18.8x. The stock trades at an EV/EBITDA multiple of 27.3x compared to the peer median of 16.6x, and a price-to-sales ratio of 0.1x versus the peer median of 2.8x. Over the past year, ASX delivered a return of 217.4%, outperforming the S&P 500 (SPY) return of 16.8%.

ASE Technology pays an annual dividend with a forward payout of $0.42 per share, representing a 1.06% dividend yield and a payout ratio of 48.5%. The company has paid dividends for 20 consecutive years, achieving an annualized 5-year dividend growth rate of 21.2%. Its most recent ex-dividend date was July 6, 2026.

Wall Street coverage consists of 1 Strong Buy rating, with 0 Buy, 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $58.00, representing 46.7% upside relative to the last close of $39.53. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $1.23, an increase of 115.4%, on revenue of $840.39B. ASE Technology beat EPS estimates in each of the last 4 quarters, and its next earnings date is October 29, 2026.

This page is an AI-written research summary of ASE Technology Holding Co., Ltd. (ASX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: ASX income statement, ASX balance sheet, ASX key metrics, ASX analyst forecast, ASX chart. See the ASX stock overview for the latest quote and news.