ASX
ASE Technology Holding Co., Ltd.
Semiconductors
Market Cap$74.84B
5Y Perf.+739.0%
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Stock Comparison
ASX vs ONTO
Revenue, margins, valuation, and 5-year total return — side by side.
ONTO
Onto Innovation Inc.
Semiconductors
Market Cap$14.16B
5Y Perf.+815.9%
ASX vs ONTO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ASX | ONTO |
|---|---|---|
| Industry | Semiconductors | Semiconductors |
| Market Cap | $74.84B | $14.16B |
| Revenue (TTM) | $666.14B | $1.03B |
| Net Income (TTM) | $47.13B | $106M |
| Gross Margin | 18.3% | 48.8% |
| Operating Margin | 8.8% | 10.0% |
| Forward P/E | 1.0x | 39.9x |
| Total Debt | $264.10B | $17M |
| Cash & Equiv. | $92.47B | $346M |
ASX vs ONTO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ASX
ONTO
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| ASE Technology Hold… (ASX) | 100 | 839.0 | +739.0% |
| Onto Innovation Inc. (ONTO) | 100 | 915.9 | +815.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ASX vs ONTO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ASX leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Onto Innovation Inc. is the stronger pick specifically for profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
ASX
ASE Technology Holding Co., Ltd.
The Income Pick
ASX carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 1 yrs, beta 1.60, yield 1.0%
- Rev growth 6.8%, EPS growth 27.7%, 3Y rev CAGR -1.5%
- Lower volatility, beta 1.60, Low D/E 70.7%, current ratio 1.28x
Best for: income & stability and growth exposure
ONTO
Onto Innovation Inc.
The Long-Run Compounder
ONTO is the clearest fit if your priority is long-term compounding.
- 14.9% 10Y total return vs ASX's 7.0%
- 10.3% margin vs ASX's 7.1%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ASX | 6.8% revenue growth vs ONTO's 1.8% |
| Value | ASX | Lower P/E (1.0x vs 39.9x), PEG 0.13 vs 1.16 |
| Quality / Margins | ONTO | 10.3% margin vs ASX's 7.1% |
| Stability / Safety | ASX | Beta 1.60 vs ONTO's 2.60 |
| Dividends | ASX | 1.0% yield; 1-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | ASX | +276.8% vs ONTO's +124.5% |
| Efficiency (ROA) | ASX | 5.5% ROA vs ONTO's 4.7%, ROIC 7.6% vs 5.7% |
ASX vs ONTO — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2022
FY 2025
ASX vs ONTO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLASXLAGGINGONTO
ONTOOnto Innovation Inc.
1leads
ASXASE Technology Holdin…
4leads
6 Total Categories
CATEGORYLEADERvs ONTOMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ONTO4/6
Valuation MetricsMultiples, price ratios, and targets
ASX5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ASX5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
ASX5/6
Risk & VolatilityBeta, volatility, and downside exposure
ASX2/2
Analyst OutlookRatings, price targets, and dividends
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Income & Cash Flow (Last 12 Months)
ONTO leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ASX is the larger business by revenue, generating $666.1B annually — 646.4x ONTO's $1.0B. Profitability is closely matched — net margins range from 10.3% (ONTO) to 7.1% (ASX). On growth, ASX holds the edge at +17.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| RevenueTrailing 12 months | $666.1B | $1.0B |
| EBITDAEarnings before interest/tax | $127.9B | $158M |
| Net IncomeAfter-tax profit | $47.1B | $106M |
| Free Cash FlowCash after capex | -$6.2B | $239M |
| Gross MarginGross profit ÷ Revenue | +18.3% | +48.8% |
| Operating MarginEBIT ÷ Revenue | +8.8% | +10.0% |
| Net MarginNet income ÷ Revenue | +7.1% | +10.3% |
| FCF MarginFCF ÷ Revenue | -0.9% | +23.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +17.4% | +9.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +95.1% | -48.5% |
ONTO leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
ASX leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 58.2x trailing earnings, ASX trades at a 43% valuation discount to ONTO's 102.4x P/E. Adjusting for growth (PEG ratio), ONTO offers better value at 2.96x vs ASX's 7.36x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| Market CapShares × price | $74.8B | $14.2B |
| Enterprise ValueMkt cap + debt − cash | $80.3B | $13.8B |
| Trailing P/EPrice ÷ TTM EPS | 58.15x | 102.40x |
| Forward P/EPrice ÷ next-FY EPS est. | 1.04x | 39.93x |
| PEG RatioP/E ÷ EPS growth rate | 7.36x | 2.96x |
| EV / EBITDAEnterprise value multiple | 21.20x | 71.53x |
| Price / SalesMarket cap ÷ Revenue | 3.62x | 14.09x |
| Price / BookPrice ÷ Book value/share | 6.37x | 6.68x |
| Price / FCFMarket cap ÷ FCF | — | 47.23x |
ASX leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
ASX leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
ASX delivers a 13.4% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $5 for ONTO. ONTO carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to ASX's 0.71x. On the Piotroski fundamental quality scale (0–9), ASX scores 6/9 vs ONTO's 4/9, reflecting solid financial health.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| ROE (TTM)Return on equity | +13.4% | +5.2% |
| ROA (TTM)Return on assets | +5.5% | +4.7% |
| ROICReturn on invested capital | +7.6% | +5.7% |
| ROCEReturn on capital employed | +8.9% | +6.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.71x | 0.01x |
| Net DebtTotal debt minus cash | $171.6B | -$329M |
| Cash & Equiv.Liquid assets | $92.5B | $346M |
| Total DebtShort + long-term debt | $264.1B | $17M |
| Interest CoverageEBIT ÷ Interest expense | 10.27x | — |
ASX leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
ASX leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ASX five years ago would be worth $46,812 today (with dividends reinvested), compared to $46,041 for ONTO. Over the past 12 months, ASX leads with a +276.8% total return vs ONTO's +124.5%. The 3-year compound annual growth rate (CAGR) favors ASX at 71.1% vs ONTO's 48.9% — a key indicator of consistent wealth creation.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| YTD ReturnYear-to-date | +103.0% | +71.6% |
| 1-Year ReturnPast 12 months | +276.8% | +124.5% |
| 3-Year ReturnCumulative with dividends | +400.9% | +230.4% |
| 5-Year ReturnCumulative with dividends | +368.1% | +360.4% |
| 10-Year ReturnCumulative with dividends | +703.9% | +1491.2% |
| CAGR (3Y)Annualised 3-year return | +71.1% | +48.9% |
ASX leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
ASX leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
ASX is the less volatile stock with a 1.60 beta — it tends to amplify market swings less than ONTO's 2.60 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ASX currently trades 99.8% from its 52-week high vs ONTO's 90.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.60x | 2.60x |
| 52-Week HighHighest price in past year | $34.30 | $315.86 |
| 52-Week LowLowest price in past year | $9.12 | $85.88 |
| % of 52W HighCurrent price vs 52-week peak | +99.8% | +90.1% |
| RSI (14)Momentum oscillator 0–100 | 73.8 | 51.2 |
| Avg Volume (50D)Average daily shares traded | 6.9M | 827K |
ASX leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates ASX as "Buy" and ONTO as "Buy". ASX is the only dividend payer here at 0.97% yield — a key consideration for income-focused portfolios.
| Metric | ASXASE Technology Ho… | ONTOOnto Innovation I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | — | $331.67 |
| # AnalystsCovering analysts | 5 | 11 |
| Dividend YieldAnnual dividend ÷ price | +1.0% | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | $10.46 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.5% |
Insufficient data to determine a leader in this category.
Key Takeaway
ASX leads in 4 of 6 categories (Valuation Metrics, Profitability & Efficiency). ONTO leads in 1 (Income & Cash Flow).
Best OverallASE Technology Holding Co.,… (ASX)Leads 4 of 6 categories
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ASX vs ONTO: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is ASX or ONTO a better buy right now?
For growth investors, ASE Technology Holding Co.
, Ltd. (ASX) is the stronger pick with 6. 8% revenue growth year-over-year, versus 1. 8% for Onto Innovation Inc. (ONTO). ASE Technology Holding Co. , Ltd. (ASX) offers the better valuation at 58. 2x trailing P/E (1. 0x forward), making it the more compelling value choice. Analysts rate ASE Technology Holding Co. , Ltd. (ASX) a "Buy" — based on 5 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ASX or ONTO?
On trailing P/E, ASE Technology Holding Co.
, Ltd. (ASX) is the cheapest at 58. 2x versus Onto Innovation Inc. at 102. 4x. On forward P/E, ASE Technology Holding Co. , Ltd. is actually cheaper at 1. 0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: ASE Technology Holding Co. , Ltd. wins at 0. 13x versus Onto Innovation Inc. 's 1. 16x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — ASX or ONTO?
Over the past 5 years, ASE Technology Holding Co.
, Ltd. (ASX) delivered a total return of +368. 1%, compared to +360. 4% for Onto Innovation Inc. (ONTO). Over 10 years, the gap is even starker: ONTO returned +1491% versus ASX's +703. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ASX or ONTO?
By beta (market sensitivity over 5 years), ASE Technology Holding Co.
, Ltd. (ASX) is the lower-risk stock at 1. 60β versus Onto Innovation Inc. 's 2. 60β — meaning ONTO is approximately 62% more volatile than ASX relative to the S&P 500. On balance sheet safety, Onto Innovation Inc. (ONTO) carries a lower debt/equity ratio of 1% versus 71% for ASE Technology Holding Co. , Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — ASX or ONTO?
By revenue growth (latest reported year), ASE Technology Holding Co.
, Ltd. (ASX) is pulling ahead at 6. 8% versus 1. 8% for Onto Innovation Inc. (ONTO). On earnings-per-share growth, the picture is similar: ASE Technology Holding Co. , Ltd. grew EPS 27. 7% year-over-year, compared to -31. 5% for Onto Innovation Inc.. Over a 3-year CAGR, ONTO leads at 0. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ASX or ONTO?
Onto Innovation Inc.
(ONTO) is the more profitable company, earning 13. 6% net margin versus 6. 3% for ASE Technology Holding Co. , Ltd. — meaning it keeps 13. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ONTO leads at 13. 2% versus 7. 9% for ASX. At the gross margin level — before operating expenses — ONTO leads at 49. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ASX or ONTO more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, ASE Technology Holding Co. , Ltd. (ASX) is the more undervalued stock at a PEG of 0. 13x versus Onto Innovation Inc. 's 1. 16x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, ASE Technology Holding Co. , Ltd. (ASX) trades at 1. 0x forward P/E versus 39. 9x for Onto Innovation Inc. — 38. 9x cheaper on a one-year earnings basis.
08Which pays a better dividend — ASX or ONTO?
In this comparison, ASX (1.
0% yield) pays a dividend. ONTO does not pay a meaningful dividend and should not be held primarily for income.
09Is ASX or ONTO better for a retirement portfolio?
For long-horizon retirement investors, ASE Technology Holding Co.
, Ltd. (ASX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (1. 0% yield, +703. 9% 10Y return). Onto Innovation Inc. (ONTO) carries a higher beta of 2. 60 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ASX: +703. 9%, ONTO: +1491%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ASX and ONTO?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
ASX pays a dividend while ONTO does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(ASX: 17.4% · ONTO: 9.5%)Net Margin>
%
(ASX: 7.1% · ONTO: 10.3%)P/E Ratio<
x
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