(ASX) ASE Industrial Holding - Ratings and Ratios
Semiconductor, Packaging, Testing, EMS, Substrates
ASX EPS (Earnings per Share)
ASX Revenue
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 | 28,227m |
| Sub-Industry | Semiconductors |
| IPO / Inception | 1995-12-15 |
ASX Stock Ratings
| Growth Rating | 81.2% |
| Fundamental | 50.9% |
| Dividend Rating | 63.3% |
| Return 12m vs S&P 500 | 13.9% |
| Analyst Rating | 4.67 of 5 |
ASX Dividends
| Dividend Yield 12m | 2.66% |
| Yield on Cost 5y | 10.00% |
| Annual Growth 5y | 24.04% |
| Payout Consistency | 85.4% |
| Payout Ratio | 17.0% |
ASX Growth Ratios
| Growth Correlation 3m | 89.3% |
| Growth Correlation 12m | 53.3% |
| Growth Correlation 5y | 82.5% |
| CAGR 5y | 44.27% |
| CAGR/Max DD 3y (Calmar Ratio) | 1.09 |
| CAGR/Mean DD 3y (Pain Ratio) | 4.06 |
| Sharpe Ratio 12m | 0.51 |
| Alpha | 17.78 |
| Beta | 0.935 |
| Volatility | 34.13% |
| Current Volume | 6394.5k |
| Average Volume 20d | 7555.6k |
| Stop Loss | 12.8 (-4.2%) |
| Signal | 0.25 |
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'' 1.21
| (A) 0.01 = (Total Current Assets 254.00b - Total Current Liabilities 248.97b) / Total Assets 765.17b |
| (B) 0.13 = Retained Earnings (Balance) 96.64b / Total Assets 765.17b |
| (C) 0.06 = EBIT TTM 46.28b / Avg Total Assets 724.05b |
| (D) 0.31 = Book Value of Equity 140.79b / Total Liabilities 450.24b |
| Total Rating: 1.21 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 50.86
| 1. Piotroski 4.50pt = -0.50 |
| 2. FCF Yield -1.93% = -0.96 |
| 3. FCF Margin -3.17% = -1.19 |
| 4. Debt/Equity 0.79 = 2.20 |
| 5. Debt/Ebitda 1.46 = 1.03 |
| 6. ROIC - WACC (= -0.20)% = -0.25 |
| 7. RoE 11.00% = 0.92 |
| 8. Rev. Trend -25.15% = -1.89 |
| 9. EPS Trend 30.25% = 1.51 |
What is the price of ASX shares?
Over the past week, the price has changed by +5.36%, over one month by +20.04%, over three months by +26.40% and over the past year by +36.40%.
Is ASE Industrial Holding a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of ASX is around 16.47 USD . This means that ASX is currently undervalued and has a potential upside of +23.28% (Margin of Safety).
Is ASX a buy, sell or hold?
- 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 | 13.2 | -1.3% |
| Analysts Target Price | 13.2 | -1.3% |
| ValueRay Target Price | 18.2 | 36.2% |
ASX Fundamental Data Overview October 26, 2025
P/E Trailing = 26.4898
P/E Forward = 12.3001
P/S = 0.0454
P/B = 2.5151
P/EG = 1.38
Beta = 0.935
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 = 1022.96b TWD (867.57b + Debt 232.29b - CCE 76.90b)
Interest Coverage Ratio = 6.67 (Ebit TTM 46.28b / Interest Expense TTM 6.94b)
FCF Yield = -1.93% (FCF TTM -19.71b / Enterprise Value 1022.96b)
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 = 1.34 (Enterprise Value 1022.96b / 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 = 7.55% (E(867.57b)/V(1099.86b) * Re(9.46%) + D(232.29b)/V(1099.86b) * Rd(0.52%) * (1-Tc(0.17)))
Discount Rate = 9.46% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.78%
Fair Price DCF = unknown (Cash Flow -19.71b)
EPS Correlation: 30.25 | EPS CAGR: -66.03% | SUE: -0.23 | # QB: 0
Revenue Correlation: -25.15 | Revenue CAGR: -7.83% | SUE: 0.00 | # QB: 0
Additional Sources for ASX Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle