ASE Technology Holding Co., Ltd.(ASX)

$22.28▼-0.20 (-0.89%)

ASE Technology Holding Co., Ltd.(ASX)

NYSE

$22.28▼-0.20 (-0.89%)

Overview Intelligence Chart Fundamentals Key Metrics Earnings Growth Analysts Financials Insiders Institutional

Revenue (LTM)

$648.9B

+6.8% YoY

Net Income (LTM)

$40.9B

+23.3% YoY

Free Cash Flow

$-20.0B

Revenue CAGR (5Y)

+3.5%

Marginsdeclining

FCFTurned negative

Profitable

Watch on earnings:Capacity utilization rates by technology segment (wire bond vs flip-chip vs advanced packaging)Average selling price trends and product mix shift toward higher-margin advanced packagingBook-to-bill ratio and backlog visibility for next 3-6 monthsGross margin trajectory relative to 17-19% normalized rangeReturn on invested capital (ROIC) relative to 8-10% cost of capital, given heavy capex requirements

Key metrics:WSTS (World Semiconductor Trade Statistics) global semiconductor sales growth rate as leading indicator for OSAT demand · Taiwan Semiconductor Manufacturing Company (TSMC) capacity utilization and capex guidance as proxy for overall wafer supply feeding into packaging demand · DEXCHUS (USD/CNY exchange rate) impacting China revenue translation and competitive positioning versus Chinese OSAT rivals · Philadelphia Semiconductor Index (SOX) relative performance indicating sector sentiment and multiple expansion/compression

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	564,456	679,140↑20.3%	574,183↓15.5%	607,724↑5.8%	648,922↑6.8%
Gross Profit	104,890	132,559↑26.4%	85,728↓35.3%	93,492↑9.1%	114,818↑22.8%
Operating Income	62,264	82,284↑32.2%	40,869↓50.3%	41,078↑0.5%	51,034↑24.2%
Net Income	63,286	62,856↓0.7%	31,304↓50.2%	33,154↑5.9%	40,881↑23.3%
EBITDA	134,644	140,564↑4.4%	103,366↓26.5%	108,528↑5.0%	118,843↑9.5%
EPS Diluted	28.80	27.88↓3.2%	14.36↓48.5%	14.46↑0.7%	18.46↑27.7%

Balance Sheet

⚠ Elevated capex intensity of $163B (25% of revenue) creating negative free cash flow of -$20B, requiring continued debt or equity financing to fund growth investments

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	76,073	58,040↓23.7%	67,285↑15.9%	76,493↑13.7%	92,469↑20.9%
Total Current Assets	292,358	300,367↑2.7%	261,682↓12.9%	275,285↑5.2%	313,795↑14.0%
Total Assets	673,266	707,590↑5.1%	667,393↓5.7%	741,060↑11.0%	889,333↑20.0%
Total Current Liabilities	217,245	229,325↑5.6%	225,970↓1.5%	234,424↑3.7%	244,349↑4.2%
Total Liabilities	405,095	394,313↓2.7%	352,642↓10.6%	398,789↑13.1%	515,966↑29.4%
Total Equity	253,627	294,668↑16.2%	294,480↓0.1%	320,026↑8.7%	346,900↑8.4%
Total Debt	215,678	190,075↓11.9%	179,217↓5.7%	201,412↑12.4%	264,097↑31.1%
Net Debt	139,605	132,034↓5.4%	111,932↓15.2%	124,919↑11.6%	171,628↑37.4%

Cash Flow Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	78,786	105,211↑33.5%	104,560↓0.6%	84,737↓19.0%	143,028↑68.8%
Capital Expenditure	-71,163	-74,226↓4.3%	-53,474↑28.0%	-81,772↓52.9%	-163,037↓99.4%
Free Cash Flow	7,623	30,985↑306.5%	51,086↑64.9%	2,965↓94.2%	-20,009↓774.8%
Stock-Based Comp	0	0	0	0	0
Net Change in Cash	25,320	-25,992↓202.7%	9,349↑136.0%	4,617↓50.6%	19,105↑313.8%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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