ASE Technology Holding Co., Ltd. (ASX) Financial Ratios
27 years of historical data (1999–2025) · Technology · Semiconductors
EV/EBITDA
↑
21.24
↑+1422% vs avg
5yr avg: 1.40
30Y Low0.8·High3.2
P/FCF
↑
N/A
—
5yr avg: 2.64
30Y Low0.3·High53.8
P/B Ratio
↑
6.38
↑+9511% vs avg
5yr avg: 0.07
30Y Low0.0·High0.2
ROE
↓
11.4%
↑-27% vs avg
5yr avg: 15.7%
30Y Low-8%·High27%
Debt/EBITDA
↑
2.22
+19% vs avg
5yr avg: 1.86
30Y Low1.3·High3.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ASX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ASE Technology Holding Co., Ltd. trades at 58.3x earnings, 10615% above its 5-year average of 0.5x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 27.2x, the stock trades at a premium of 114%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $74.7B | $35.7B | $22.2B | $20.5B | $13.6B | $17.0B | $12.5B | $11.9B | $8.0B | $13.6B | $10.4B |
| Enterprise Value | $80.1B | $207.3B | $147.1B | $132.4B | $145.6B | $156.7B | $158.9B | $172.5B | $154.6B | $44.0B | $83.1B |
| P/E Ratio → | 58.29 | 0.87 | 0.70 | 0.66 | 0.22 | 0.27 | 0.46 | 0.72 | 0.32 | 0.62 | 0.54 |
| P/S Ratio | 3.63 | 0.05 | 0.04 | 0.04 | 0.02 | 0.03 | 0.03 | 0.03 | 0.02 | 0.05 | 0.04 |
| P/B Ratio | 6.38 | 0.10 | 0.06 | 0.06 | 0.04 | 0.06 | 0.05 | 0.06 | 0.04 | 0.07 | 0.06 |
| P/FCF | — | — | 7.47 | 0.40 | 0.44 | 2.24 | 1.23 | 1.32 | 0.84 | 0.60 | 0.43 |
| P/OCF | 16.45 | 0.25 | 0.26 | 0.20 | 0.13 | 0.22 | 0.18 | 0.18 | 0.15 | 0.29 | 0.20 |
P/E links to full P/E history page with 30-year chart
ASX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ASE Technology Holding Co., Ltd.'s enterprise value stands at 21.2x EBITDA, 1422% above its 5-year average of 1.4x. The Technology sector median is 17.3x, placing the stock at a 23% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.32 | 0.24 | 0.23 | 0.21 | 0.28 | 0.35 | 0.42 | 0.41 | 0.15 | 0.30 |
| EV / EBITDA | 21.24 | 1.74 | 1.46 | 1.36 | 1.06 | 1.36 | 1.93 | 2.36 | 2.19 | 0.82 | 1.48 |
| EV / EBIT | 49.46 | 4.06 | 3.03 | 2.81 | 1.70 | 1.92 | 4.31 | 6.39 | 4.20 | 1.37 | 2.88 |
| EV / FCF | — | — | 49.60 | 2.59 | 4.70 | 20.55 | 15.60 | 19.16 | 16.24 | 1.93 | 3.41 |
ASX Profitability
Margins and return-on-capital ratios measuring operating efficiency
ASE Technology Holding Co., Ltd. earns an operating margin of 7.9%. ROE of 11.4% is modest. ROIC of 7.6% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7% | 17.7% | 15.4% | 14.9% | 19.5% | 18.6% | 15.4% | 14.6% | 15.7% | 17.4% | 18.5% |
| Operating Margin | 7.9% | 7.9% | 6.8% | 7.1% | 12.1% | 11.0% | 7.4% | 5.8% | 7.3% | 8.7% | 9.7% |
| Net Profit Margin | 6.3% | 6.3% | 5.5% | 5.5% | 9.3% | 11.2% | 5.8% | 4.1% | 6.8% | 7.9% | 7.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.4% | 11.4% | 10.1% | 10.0% | 21.6% | 25.3% | 11.8% | 7.7% | 12.2% | 12.4% | 13.1% |
| ROA | 5.0% | 5.0% | 4.7% | 4.6% | 9.1% | 10.1% | 4.6% | 3.1% | 5.7% | 6.3% | 6.0% |
| ROIC | 7.6% | 7.6% | 6.9% | 7.0% | 14.5% | 11.9% | 6.7% | 4.8% | 6.9% | 8.0% | 8.5% |
| ROCE | 8.9% | 8.9% | 8.7% | 8.9% | 17.6% | 14.4% | 8.3% | 6.1% | 8.7% | 9.9% | 10.9% |
ASX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ASE Technology Holding Co., Ltd. carries a Debt/EBITDA ratio of 2.2x, which is manageable (23% below the sector average of 2.9x). Net debt stands at $171.6B ($264.1B total debt minus $92.5B cash). Interest coverage of 9.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.71 | 0.71 | 0.59 | 0.57 | 0.61 | 0.80 | 0.85 | 1.04 | 0.90 | 0.38 | 0.67 |
| Debt / EBITDA | 2.22 | 2.22 | 1.99 | 1.85 | 1.38 | 1.87 | 2.41 | 3.02 | 2.81 | 1.42 | 1.97 |
| Net Debt / Equity | — | 0.46 | 0.36 | 0.36 | 0.42 | 0.52 | 0.63 | 0.75 | 0.67 | 0.15 | 0.44 |
| Net Debt / EBITDA | 1.44 | 1.44 | 1.24 | 1.15 | 0.96 | 1.21 | 1.78 | 2.20 | 2.08 | 0.56 | 1.29 |
| Debt / FCF | — | — | 42.13 | 2.19 | 4.26 | 18.31 | 14.37 | 17.84 | 15.41 | 1.34 | 2.98 |
| Interest Coverage | 9.07 | 9.07 | 7.20 | 7.38 | 636.06 | 802.98 | 314.09 | 198.53 | 11.99 | 21.82 | 14.52 |
ASX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.28x means ASE Technology Holding Co., Ltd. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.16x to 1.28x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.28 | 1.28 | 1.17 | 1.16 | 1.31 | 1.35 | 1.28 | 1.31 | 1.27 | 1.34 | 1.33 |
| Quick Ratio | 1.00 | 1.00 | 0.91 | 0.88 | 0.91 | 1.01 | 0.93 | 1.02 | 0.98 | 1.02 | 0.91 |
| Cash Ratio | 0.42 | 0.42 | 0.37 | 0.32 | 0.29 | 0.36 | 0.32 | 0.42 | 0.41 | 0.48 | 0.40 |
| Asset Turnover | — | 0.73 | 0.82 | 0.86 | 0.96 | 0.84 | 0.78 | 0.73 | 0.71 | 0.79 | 0.77 |
| Inventory Turnover | 7.70 | 7.70 | 8.41 | 7.71 | 5.89 | 6.27 | 6.20 | 7.70 | 6.83 | 6.98 | 4.92 |
| Days Sales Outstanding | — | 70.33 | 73.69 | 77.18 | 73.84 | 87.52 | 81.02 | 75.80 | 81.07 | 71.61 | 69.24 |
ASX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ASE Technology Holding Co., Ltd. returns 1.0% to shareholders annually primarily through dividends. A payout ratio of 56.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 1.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 65.0% | 100.0% | 100.0% | 100.0% | 100.0% | 64.9% | 88.6% | 100.0% | 82.0% | 100.0% |
| Payout Ratio | 56.7% | 56.7% | 69.1% | 119.3% | 48.3% | 28.3% | 30.9% | 63.0% | 42.0% | 48.8% | 56.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 114.7% | 143.6% | 152.6% | 444.7% | 368.8% | 216.1% | 138.8% | 316.8% | 161.7% | 186.5% |
| FCF Yield | — | — | 13.4% | 249.7% | 228.6% | 44.7% | 81.3% | 76.0% | 119.4% | 167.9% | 233.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.5% | 32.1% | 0.0% | 0.0% | 0.9% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.0% | 65.0% | 100.0% | 100.0% | 100.0% | 100.0% | 64.9% | 88.6% | 100.0% | 82.0% | 100.0% |
| Shares Outstanding | — | $2.2B | $2.2B | $2.2B | $2.2B | $2.2B | $2.1B | $2.1B | $2.1B | $2.1B | $2.1B |
Peer Comparison
Compare ASX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ASXYou | $75B | 58.3 | 21.2 | — | 17.7% | 7.9% | 11.4% | 7.6% | 2.2 |
 AMKR | $19B | 51.5 | 17.4 | 100.2 | 14.0% | 7.0% | 8.6% | 7.6% | 1.4 |
 TFII | $11B | 26.8 | 9.2 | 11.6 | 12.2% | 6.9% | 16.2% | 9.7% | 2.3 |
 ONTO | $15B | 105.8 | 73.9 | 48.8 | 49.7% | 13.2% | 6.8% | 5.7% | 0.1 |
 ICHR | $3B | -47.1 | — | — | 9.3% | -4.1% | -7.7% | -3.9% | — |
 COHU | $2B | -31.2 | — | 217.2 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 ACLS | $6B | 45.0 | 39.7 | 51.8 | 44.9% | 14.2% | 11.7% | 9.6% | 0.3 |
 FORM | $12B | 216.1 | 104.1 | 990.2 | 39.1% | 8.2% | 5.5% | 5.4% | 0.4 |
 TSM | $2.2T | 39.5 | 25.2 | 62.4 | 59.9% | 50.8% | 35.7% | 42.7% | 0.4 |
 INTC | $567B | -1918.7 | 51.3 | — | 34.8% | -0.0% | -0.2% | -0.0% | 4.0 |
 QCOM | $203B | 38.5 | 15.2 | 15.8 | 55.4% | 27.9% | 23.3% | 29.1% | 1.2 |
| Technology Median | — | 27.2 | 17.3 | 19.8 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonASX — Frequently Asked Questions
Quick answers to the most common questions about buying ASX stock.
What is ASE Technology Holding Co., Ltd.'s P/E ratio?
ASE Technology Holding Co., Ltd.'s current P/E ratio is 58.3x. The historical average is 2.4x. This places it at the 100th percentile of its historical range.
What is ASE Technology Holding Co., Ltd.'s EV/EBITDA?
ASE Technology Holding Co., Ltd.'s current EV/EBITDA is 21.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.8x.
What is ASE Technology Holding Co., Ltd.'s ROE?
ASE Technology Holding Co., Ltd.'s return on equity (ROE) is 11.4%. The historical average is 11.8%.
Is ASX stock overvalued?
Based on historical data, ASE Technology Holding Co., Ltd. is trading at a P/E of 58.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is ASE Technology Holding Co., Ltd.'s dividend yield?
ASE Technology Holding Co., Ltd.'s current dividend yield is 0.97% with a payout ratio of 56.7%.
What are ASE Technology Holding Co., Ltd.'s profit margins?
ASE Technology Holding Co., Ltd. has 17.7% gross margin and 7.9% operating margin.
How much debt does ASE Technology Holding Co., Ltd. have?
ASE Technology Holding Co., Ltd.'s Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.