ASE Technology Holding ASX
TaiwanTechnology · SemiconductorsUSD
51.00 USD (+11.5%)
1 analysts
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ASE Technology Holding is the world's largest provider of semiconductor packaging and testing services, offering assembly and testing solutions for chip manufacturers globally.
Key points
from its scores- ✓Good share-price trend9.8
- ✓Strong growth7.2
- ✕Demanding valuation2.7
- ✕Unfavourable risk and backdrop3.2
- ✕Little competitive advantage4.1
AI analysis
bottom line, main risk, context and newsStrong growth and momentum are attractive, but demanding valuation and weak free cash flow generation limit near-term upside potential.
ASE Technology shows explosive growth (earnings +171.2%) and exceptional momentum (259.8%), but its valuation is demanding (P/E 54.48) and its free cash flow conversion is negative (-74.76%), suggesting the market is already pricing in very high growth that may not be sustainable in a cyclical sector.
The main risk is geopolitical concentration in Taiwan, which could disrupt production and the global semiconductor supply chain, directly impacting its manufacturing capacity.
Context and risks
ASE Technology is a key provider of semiconductor packaging and testing, headquartered in Taiwan. Geopolitical tension in the Taiwan Strait is a structural risk to the global semiconductor supply chain, and the company is at the center of that exposure. Although its production base is diversified, a disruption in Taiwan would have a material impact on its manufacturing capacity and its customers' supply chain.
Is ASE Technology Holding stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 46% above the Technology median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 54.5 | 31.3 | +74% |
| EV / EBITDA | 24.2 | 20.4 | +19% |
| Price / book | 9.4 | 6.3 | +49% |
| Price / sales | 4.5 | 5.3 | −15% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.7 out of 10 (median for Technology: 5.3).
Average analyst target: 51.00 USD, +11.5% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 4.1 (sector 6.4), Growth 7.2 (sector 7.5).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 54.5
- Forward P/E
- 23.4
- EV / EBITDA
- 24.2
- Price / book
- 9.4
- Price / sales
- 4.5
- PEG
- 4.96
- Market cap
- 100.6B USD
- Enterprise value
- 3.39T TWD
Profitability
- ROE
- 17.0%
- ROA
- 4.7%
- ROIC (approx.)
- 12.3%
- Gross margin
- 19.5%
- Operating margin
- 11.1%
- Net margin
- 8.5%
- Free cash flow
- −104.7B TWD
- FCF yield
- −3.3%
- Cash conversion
- −75%
Solvency
- Total debt
- 295.8B TWD
- Net debt
- 190.1B TWD
- Cash
- 105.6B TWD
- EBITDA
- 140.0B TWD
- Net debt / EBITDA
- 1.36
- Debt / equity
- 70.56
- Current ratio
- 1.07
- Quick ratio
- 0.79
Growth
- Revenue growth
- +26.7%
- Earnings growth
- +171.2%
- EPS (TTM)
- 0.84 USD
- EPS (forward)
- 1.95 USD
Dividend
- Dividend yield
- 0.9%
- Payout
- 50.0%
Risk and market
- Beta
- 1.52
- Analyst consensus
- none (1)
- Target price
- 51.00 USD
- 52-week range
- 11.07 – 47.93
Recent news
All ASX news →Compare it with its sector
All 283 in Technology →Frequently asked questions about ASE Technology Holding
Is ASE Technology Holding stock cheap or expensive?
On P/E and EV / EBITDA, it trades 46% above the Technology median on average. Valuation score: 2.7 out of 10 (median for Technology: 5.3). Average analyst target: 51.00 USD, +11.5% versus the price. This is not investment advice.
What score does ASE Technology Holding get on MeridIAn Screener?
It scores 4.9 out of 10, rank 1,724 of 2,130 (better than 17% of the companies analysed). Its strongest category is Momentum (9.8) and its weakest, Valuation (2.7). Analysis of 08/10/2026.
What is ASE Technology Holding's P/E ratio?
Its P/E is 54.5: the share price equals 54.5 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 23.4.
How much is ASE Technology Holding worth on the stock market?
Its market capitalisation is 100.6B USD and its enterprise value, debt included, is 3.39T USD.
How much debt does ASE Technology Holding have?
Its net debt (debt minus cash) is 190.1B TWD. That is 1.36 times its EBITDA; the Technology median is 0.20.
Does ASE Technology Holding pay a dividend?
Yes: its dividend yield is 0.92% and it pays out 50% of its earnings.
How has ASE Technology Holding stock performed over the last year?
It has risen 317.1% over the last year, excluding dividends. Over the last 52 weeks it has traded between 11.07 and 47.93 USD. Past performance does not guarantee future results.
What do analysts think of ASE Technology Holding?
1 analysts cover it; their average recommendation is “none” and their average target is 51.00 USD (+11.5% versus the price). It is an estimate, not market data.