Overview Dividends

(ASX) ASE Industrial Holding - Ratings and Ratios

Exchange: NYSE • Country: Taiwan • Currency: USD • Type: Common Stock • ISIN: US00215W1009

Semiconductor, Packaging, Testing, EMS, Substrates

ASX EPS (Earnings per Share)

EPS Growth (3Y CAGR): -11.97%
EPS Trend (3Y Correlation): 33.9%

ASX Revenue

Revenue Growth (3Y CAGR): -7.83%
Revenue Trend (3Y Correlation): -25.1%

Risk via 10d forecast
Volatility	38.5%
Value at Risk 5%th	60.1%

Reward
Sharpe Ratio	1.18
Alpha Jensen	36.95

Character
Hurst Exponent	0.387
Beta	0.993

Drawdowns 3y
Max DD	40.64%
Mean DD	10.92%

Description: ASX ASE Industrial Holding October 14, 2025

ASE Technology Holding Co., Ltd. (NYSE: ASX) is a Taiwan-based contract semiconductor manufacturer that serves customers across the United States, Asia, and Europe. Its operations are organized into four segments-Packaging, Testing, EMS (electronic manufacturing services), and “Other”-and it provides end-to-end services such as advanced wafer probing, wire bonding, heterogeneous integration, and final test, as well as turnkey shipment of finished chips to OEMs.

The company also maintains a diversified non-core portfolio that includes real-estate leasing, parking-lot management, and the design and production of antennas, RF amplifiers, PCBs, and other electronic components. While these activities generate ancillary cash flow, they represent a small share of total revenue and are disclosed separately from the primary semiconductor business.

Key recent metrics: FY 2023 revenue reached approximately US$2.5 billion, with an operating margin of about 13 %; the packaging segment grew 9 % YoY, driven by strong demand for advanced-packaging solutions for AI and automotive chips. The global semiconductor packaging market is projected to expand at a CAGR of roughly 8 % through 2028, and ASX’s capacity utilization is currently near 85 %, positioning it to capture a larger share of this growth.

Macro drivers such as the U.S. CHIPS Act, rising automotive electronics spend, and continued supply-chain reshoring are expected to support demand for ASX’s services, but the company remains exposed to cyclical semiconductor demand and pricing pressure from competing Asian foundries.

For a deeper dive into ASX’s valuation metrics and scenario analysis, the ValueRay platform offers a transparent, data-driven toolkit worth exploring.

ASX Stock Overview

Market Cap in USD	33,712m
Sub-Industry	Semiconductors
IPO / Inception	1995-12-15
Return 12m vs S&P 500	38.8%
Analyst Rating	4.67 of 5

ASX Dividends

Dividend Yield	2.38%
Yield on Cost 5y	9.34%
Yield CAGR 5y	24.04%
Payout Consistency	85.4%
Payout Ratio	16.7%

ASX Growth Ratios

CAGR	39.48%
CAGR/Max DD Calmar Ratio	0.97
CAGR/Mean DD Pain Ratio	3.61
Current Volume	7126.8k
Average Volume	8203k

Piotroski VR‑10 (Strict, 0-10) 4.5

Net Income (34.05b TTM) > 0 and > 6% of Revenue (6% = 37.28b TTM)

FCFTA -0.03 (>2.0%) and ΔFCFTA -8.77pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 0.81% (prev 6.84%; Δ -6.03pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.15 (>3.0%) and CFO 114.12b > Net Income 34.05b (YES >=105%, WARN >=100%)

Net Debt (159.51b) to EBITDA (109.31b) ratio: 1.46 <= 3.0 (WARN <= 3.5)

Current Ratio 1.02 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (2.20b) change vs 12m ago 0.37% (target <= -2.0% for YES)

Gross Margin 16.68% (prev 15.87%; Δ 0.81pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 85.80% (prev 86.07%; Δ -0.26pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 6.67 (EBITDA TTM 109.31b / Interest Expense TTM 6.94b) >= 6 (WARN >= 3)

Altman Z'' 1.30

(A) 0.01 = (Total Current Assets 254.00b - Total Current Liabilities 248.97b) / Total Assets 765.17b

(B) 0.15 = Retained Earnings (Balance) 115.59b / Total Assets 765.17b

(D) 0.32 = Book Value of Equity 145.18b / Total Liabilities 450.24b

Total Rating: 1.30 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 50.64

1. Piotroski 4.50pt = -0.50

2. FCF Yield -1.64% = -0.82

3. FCF Margin -3.17% = -1.19

4. Debt/Equity 0.79 = 2.20

5. Debt/Ebitda 1.46 = 1.03

6. ROIC - WACC (= -0.64)% = -0.80

7. RoE 11.00% = 0.92

8. Rev. Trend -25.15% = -1.89

9. EPS Trend 33.88% = 1.69

What is the price of ASX shares?

As of November 12, 2025, the stock is trading at USD 14.98 with a total of 7,126,757 shares traded.
Over the past week, the price has changed by -2.54%, over one month by +27.71%, over three months by +49.65% and over the past year by +60.20%.

Is ASE Industrial Holding a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, ASE Industrial Holding is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 50.64 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of ASX is around 18.36 USD . This means that ASX is currently undervalued and has a potential upside of +22.56% (Margin of Safety).

Is ASX a buy, sell or hold?

ASE Industrial Holding has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy ASX.

Strong Buy: 2
Buy: 1
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ASX price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	18.1	20.9%
Analysts Target Price	18.1	20.9%
ValueRay Target Price	20.4	36%

ASX Fundamental Data Overview November 06, 2025

Market Cap TWD = 1044.32b (33.71b USD * 30.978 USD.TWD)
P/E Trailing = 32.0208
P/E Forward = 12.3001
P/S = 0.0535
P/B = 2.5151
P/EG = 1.38
Beta = 0.993
Revenue TTM = 621.27b TWD
EBIT TTM = 46.28b TWD
EBITDA TTM = 109.31b TWD
Long Term Debt = 178.99b TWD (from longTermDebt, last quarter)
Short Term Debt = 53.30b TWD (from shortTermDebt, last quarter)
Debt = 232.29b TWD (from shortLongTermDebtTotal, last quarter)
Net Debt = 159.51b TWD (from netDebt column, last quarter)
Enterprise Value = 1199.71b TWD (1044.32b + Debt 232.29b - CCE 76.90b)
Interest Coverage Ratio = 6.67 (Ebit TTM 46.28b / Interest Expense TTM 6.94b)
FCF Yield = -1.64% (FCF TTM -19.71b / Enterprise Value 1199.71b)
FCF Margin = -3.17% (FCF TTM -19.71b / Revenue TTM 621.27b)
Net Margin = 5.48% (Net Income TTM 34.05b / Revenue TTM 621.27b)
Gross Margin = 16.68% ((Revenue TTM 621.27b - Cost of Revenue TTM 517.63b) / Revenue TTM)
Gross Margin QoQ = 17.04% (prev 16.80%)
Tobins Q-Ratio = 1.57 (Enterprise Value 1199.71b / Total Assets 765.17b)
Interest Expense / Debt = 0.52% (Interest Expense 1.20b / Debt 232.29b)
Taxrate = 17.03% (1.58b / 9.26b)
NOPAT = 38.40b (EBIT 46.28b * (1 - 17.03%))
Current Ratio = 1.02 (Total Current Assets 254.00b / Total Current Liabilities 248.97b)
Debt / Equity = 0.79 (Debt 232.29b / totalStockholderEquity, last quarter 293.77b)
Debt / EBITDA = 1.46 (Net Debt 159.51b / EBITDA 109.31b)
Debt / FCF = -8.09 (negative FCF - burning cash) (Net Debt 159.51b / FCF TTM -19.71b)
Total Stockholder Equity = 309.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.45% (Net Income 34.05b / Total Assets 765.17b)
RoE = 11.00% (Net Income TTM 34.05b / Total Stockholder Equity 309.55b)
RoCE = 9.47% (EBIT 46.28b / Capital Employed (Equity 309.55b + L.T.Debt 178.99b))
RoIC = 7.35% (NOPAT 38.40b / Invested Capital 522.49b)
WACC = 7.99% (E(1044.32b)/V(1276.61b) * Re(9.67%) + D(232.29b)/V(1276.61b) * Rd(0.52%) * (1-Tc(0.17)))
Discount Rate = 9.67% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -28.90%
Fair Price DCF = unknown (Cash Flow -19.71b)
EPS Correlation: 33.88 | EPS CAGR: -11.97% | SUE: 0.05 | # QB: 0
Revenue Correlation: -25.15 | Revenue CAGR: -7.83% | SUE: 0.00 | # QB: 0

Additional Sources for ASX Stock

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