ASE (ASX) Stock Analysis

November 11, 2026

This is a peer-relative look at ASE (ASX): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Semiconductors & Semiconductor Equipment peers, so every number reads in context rather than in isolation.

Company Profile

ASE (ASX) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for ASE (ASX)
Profile Item	ASX
Name	ASE Technology Holding Co., Ltd. ADR
Country/Region	Taiwan
GICS Sector	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductors
Market Capitalization	69.83 billion USD
Currency	USD
Exchange	NYSE
Listing Date	October 2, 2000
Security Type	ADR

Price Performance

Cumulative Growth

ASX

GSPC

ASE (ASX) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for ASE (ASX) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ASE (ASX) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Total Return (1Y)	127.56%	35.06%
Total Return (3Y, Annualized)	67.56%	22.14%
Total Return (5Y, Annualized)	41.55%	7.43%

Risk Profile

Drawdown History

ASX

GSPC

ASE (ASX) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for ASE (ASX) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Volatility (1Y, Annualized)	62.95%	73.97%
Beta (5Y)	1.83	1.84
Max Drawdown (5Y)	-40.64%	-64.62%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. ASX is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Sharpe Ratio (1Y)	1.96	0.42
Sortino Ratio (1Y)	2.77	0.61

Profitability

ROE (TTM)

ASE (ASX) posts ROE of 19.90%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

ASX

Semiconductors & Semiconductor Equipment industry group

19.90%

Group distribution

Max: 52.82%
Q3: 22.26%
ASX: 19.90%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

Largest peers

NVDA: 117.21%
SKHY: 92.54%
MU: 88.26%
AVGO: 44.25%
TSM: 41.86%
ASX: 19.90%
AMD: 11.96%

Where ASE (ASX) stands on ROE within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

ASE (ASX) keeps 9.78% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

ASX

Semiconductors & Semiconductor Equipment industry group

9.78%

Group distribution

Max: 63.80%
Q3: 28.36%
Median: 11.44%
ASX: 9.78%
Q1: 0.90%
Min: -37.77%

Largest peers

SKHY: 70.27%
MU: 63.80%
NVDA: 63.66%
TSM: 51.12%
AVGO: 42.94%
AMD: 16.77%
ASX: 9.78%

Where ASE (ASX) stands on net margin within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

ASE (ASX) turns 13.57% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

ASX

Semiconductors & Semiconductor Equipment industry group

13.57%

Group distribution

Max: 58.66%
Q3: 30.23%
Median: 15.91%
ASX: 13.57%
Q1: 7.54%
Min: -25.74%

Largest peers

MU: 80.68%
SKHY: 79.66%
NVDA: 66.24%
TSM: 58.66%
AVGO: 54.31%
AMD: 21.17%
ASX: 13.57%

Where ASE (ASX) stands on operating margin within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
ROE (TTM)	19.90%	10.58%
ROA (TTM)	5.36%	4.85%
Net Margin (TTM)	9.78%	11.44%
Operating Margin (TTM)	13.57%	15.91%
Gross Margin (TTM)	20.80%	49.36%

Growth

Revenue Growth

ASE (ASX) grew revenue 8.39%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

ASE (ASX): Revenue Growth across different time periods, set against Semiconductors & Semiconductor Equipment industry-group medians.

EPS Growth

ASE (ASX) grew earnings per share 22.96%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

ASE (ASX): EPS Growth across different time periods, set against Semiconductors & Semiconductor Equipment industry-group medians.

Growth Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Revenue Growth (YoY)	8.39%	9.64%
Revenue Growth (3Y CAGR)	-1.28%	0.00%
EPS Growth (YoY)	22.96%	4.90%
EPS Growth (3Y CAGR)	-13.66%	-7.71%

Financial Strength

Current Ratio (MRQ)

ASE (ASX) has current ratio of 1.16, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

ASX

Semiconductors & Semiconductor Equipment industry group

1.16

Group distribution

Max: 10.33
Q3: 5.62
Median: 3.33
Q1: 2.35
ASX: 1.16
Min: 1.03

Largest peers

SKHY: 26.88
NVDA: 4.59
MU: 3.31
AMD: 2.73
TSM: 2.51
AVGO: 2.50
ASX: 1.16

Where ASE (ASX) stands on current ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

ASE (ASX) has debt-to-equity ratio of 0.87, in the higher-leverage quartile for its industry. The heavier reliance on borrowing can make earnings, rates, or refinancing conditions matter more.

ASX

Semiconductors & Semiconductor Equipment industry group

0.87

Group distribution

Max: 1.46
ASX: 0.87
Q3: 0.65
Median: 0.27
Q1: 0.04
Min: 0.00

Largest peers

ASX: 0.87
AVGO: 0.60
NVDA: 0.17
AMD: 0.13
TSM: 0.12
SKHY: 0.05
MU: 0.04

Where ASE (ASX) stands on debt-to-equity ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Current Ratio (MRQ)	1.16	3.33
Debt / Equity (MRQ)	0.87	0.27
Net Debt / EBITDA	1.85	-0.36

Dividends

Dividend Yield (TTM)

ASE (ASX) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

ASX

Semiconductors & Semiconductor Equipment industry group

0.00%

Group distribution

Max: 1.37%
Q3: 0.65%
ASX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

SKHY: 2,118.64%
TSM: 1.70%
AVGO: 0.89%
NVDA: 0.15%
MU: 0.09%
ASX: 0.00%
AMD: 0.00%

Where ASE (ASX) stands on dividend yield within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

ASE (ASX) has payout ratio of 39.77%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

ASX

Semiconductors & Semiconductor Equipment industry group

39.77%

Group distribution

Max: 49.64%
ASX: 39.77%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

ASX: 39.77%
AVGO: 32.44%
TSM: 24.46%
NVDA: 3.54%
MU: 0.71%
SKHY: 0.00%
AMD: 0.00%

Where ASE (ASX) stands on payout ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	39.77%	0.00%

Valuation

P/E Ratio (TTM)

ASE (ASX) trades at P/E ratio of 30.41, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

ASX

Semiconductors & Semiconductor Equipment industry group

30.41

Group distribution

Max: 110.34
Q3: 66.81
Median: 37.02
ASX: 30.41
Q1: 23.96
Min: 8.12

Largest peers

AMD: 95.95
AVGO: 37.51
ASX: 30.41
TSM: 24.33
NVDA: 23.60
MU: 9.28
SKHY: 8.12

Where ASE (ASX) stands on P/E ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

ASE (ASX) trades at 0.09 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

ASX

Semiconductors & Semiconductor Equipment industry group

0.09

Group distribution

Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
ASX: 0.09
Min: 0.00

Largest peers

AMD: 16.21
AVGO: 15.73
NVDA: 14.88
MU: 5.86
TSM: 0.39
ASX: 0.09
SKHY: 0.00

Where ASE (ASX) stands on P/S ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

ASE (ASX) trades at 5.34 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

ASX

Semiconductors & Semiconductor Equipment industry group

5.34

Group distribution

Max: 14.06
Q3: 7.44
ASX: 5.34
Median: 4.29
Q1: 2.30
Min: 0.20

Largest peers

TSM: 71.65
NVDA: 19.68
AVGO: 14.06
AMD: 10.77
MU: 5.64
ASX: 5.34
SKHY: 3.95

Where ASE (ASX) stands on P/B ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

ASE (ASX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: ASX	Industry group median
P/E Ratio (TTM)	30.41	37.02
P/S Ratio (TTM)	0.09	5.76
P/B Ratio (MRQ)	5.34	4.29
Free Cash Flow Yield (TTM)	-275.26%	1.46%