ASX vs ICHR vs MKSI vs AMKR

For growth investors, Ichor Holdings, Ltd.

(ICHR) is the stronger pick with 11. 6% revenue growth year-over-year, versus 6. 2% for Amkor Technology, Inc. (AMKR). Amkor Technology, Inc. (AMKR) offers the better valuation at 51. 1x trailing P/E (36. 1x 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.

On trailing P/E, Amkor Technology, Inc.

(AMKR) is the cheapest at 51. 1x versus MKS Inc. at 71. 7x. On forward P/E, ASE Technology Holding Co. , Ltd. is actually cheaper at 1. 0x — notably different from the trailing picture, reflecting expected earnings growth. 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 Amkor Technology, Inc. 's 25. 97x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, ASE Technology Holding Co.

, Ltd. (ASX) delivered a total return of +368. 1%, compared to +46. 0% for Ichor Holdings, Ltd. (ICHR). Over 10 years, the gap is even starker: AMKR returned +1299% versus ICHR's +661. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), ASE Technology Holding Co.

, Ltd. (ASX) is the lower-risk stock at 1. 60β versus Ichor Holdings, Ltd. 's 3. 78β — meaning ICHR is approximately 136% more volatile than ASX relative to the S&P 500. On balance sheet safety, Ichor Holdings, Ltd. (ICHR) carries a lower debt/equity ratio of 28% versus 173% for MKS Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Ichor Holdings, Ltd.

(ICHR) is pulling ahead at 11. 6% versus 6. 2% for Amkor Technology, Inc. (AMKR). On earnings-per-share growth, the picture is similar: MKS Inc. grew EPS 55. 5% year-over-year, compared to -140. 6% for Ichor Holdings, Ltd.. Over a 3-year CAGR, MKSI leads at 3. 5% 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.

MKS Inc.

(MKSI) is the more profitable company, earning 7. 5% net margin versus -5. 6% for Ichor Holdings, Ltd. — meaning it keeps 7. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MKSI leads at 14. 4% versus -4. 1% for ICHR. At the gross margin level — before operating expenses — MKSI leads at 40. 4%, 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.

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 Amkor Technology, Inc. 's 25. 97x. 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 54. 0x for Ichor Holdings, Ltd. — 52. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MKSI: -6. 1% to $294. 25.

In this comparison, ASX (1.

0% yield), AMKR (0. 4% yield), MKSI (0. 3% yield) pay a dividend. ICHR does not pay a meaningful dividend and should not be held primarily for income.

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). Ichor Holdings, Ltd. (ICHR) carries a higher beta of 3. 78 — 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%, ICHR: +661. 7%), 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.

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 ICHR, MKSI, AMKR do 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.