ARM vs. ASX: Arm Holdings vs. ASE Stock Comparison

November 11, 2026

How do Arm Holdings (ARM) and ASE (ASX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Arm Holdings (ARM) and ASE (ASX) are both classified in the Semiconductors sub-industry within the broader Semiconductors & Semiconductor Equipment industry, placing them in the closest GICS peer bucket.

ASE (ASX) has more than two decades of public-market history since October 2, 2000, whereas Arm Holdings (ARM) listed on September 14, 2023 and has a much shorter record to draw on.

Both Arm Holdings (ARM) and ASE (ASX) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Arm Holdings (ARM) and ASE (ASX)
Profile Item	ARM	ASX
Name	Arm Holdings plc ADR	ASE Technology Holding Co., Ltd. ADR
Country/Region	United Kingdom	Taiwan
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductors	Semiconductors
Market Capitalization	186.84 billion USD	69.83 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	September 14, 2023	October 2, 2000
Security Type	ADR	ADR

Price Performance

Cumulative Growth

ARM

ASX

GSPC

Arm Holdings (ARM) vs. ASE (ASX), with S&P 500 (GSPC) for reference: 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 Arm Holdings (ARM) and ASE (ASX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Arm Holdings (ARM) and ASE (ASX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Total Return (1Y)	23.60%	127.56%
Total Return (3Y, Annualized)	53.99%	67.56%
Total Return (5Y, Annualized)	--	41.55%

Risk Profile

Drawdown History

ARM

ASX

GSPC

Arm Holdings (ARM) vs. ASE (ASX), with S&P 500 (GSPC) for reference: 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 Arm Holdings (ARM) and ASE (ASX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Volatility (1Y, Annualized)	82.24%	62.95%
Beta (5Y)	3.92	1.83
Max Drawdown (5Y)	-62.06%	-40.64%
Avg. Volume (3M)	5.05M	7.76M

Risk-Adjusted Performance

Risk-Return Positioning

ARM and ASX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Sharpe Ratio (1Y)	0.23	1.96
Sortino Ratio (1Y)	0.38	2.77

Profitability

ROE (TTM)

Both Arm Holdings (ARM) at 11.35% and ASE (ASX) at 19.90% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ARM

Semiconductors & Semiconductor Equipment industry group

11.35%

Max: 52.82%
Q3: 22.26%
ARM: 11.35%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

ASX

Semiconductors & Semiconductor Equipment industry group

19.90%

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

Both Arm Holdings (ARM) at 17.13% and ASE (ASX) at 9.78% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

ARM

Semiconductors & Semiconductor Equipment industry group

17.13%

Max: 63.80%
Q3: 28.36%
ARM: 17.13%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

ASX

Semiconductors & Semiconductor Equipment industry group

9.78%

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

Both Arm Holdings (ARM) at 13.93% and ASE (ASX) at 13.57% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

ARM

Semiconductors & Semiconductor Equipment industry group

13.93%

Max: 58.66%
Q3: 30.23%
Median: 15.91%
ARM: 13.93%
Q1: 7.54%
Min: -25.74%

ASX

Semiconductors & Semiconductor Equipment industry group

13.57%

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
ROE (TTM)	11.35%	19.90%
ROA (TTM)	5.50%	5.36%
Net Margin (TTM)	17.13%	9.78%
Operating Margin (TTM)	13.93%	13.57%
Gross Margin (TTM)	97.44%	20.80%

Growth

Revenue Growth

Both Arm Holdings (ARM) at 22.79% and ASE (ASX) at 8.39% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Arm Holdings (ARM) at 13.33% and ASE (ASX) at 22.96% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Revenue Growth (YoY)	22.79%	8.39%
Revenue Growth (3Y CAGR)	22.46%	-1.28%
EPS Growth (YoY)	13.33%	22.96%
EPS Growth (3Y CAGR)	18.51%	-13.66%

Financial Strength

Current Ratio (MRQ)

Arm Holdings (ARM) at 6.35 carries current ratio above its industry’s typical mid-range, while ASE (ASX) at 1.16 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

ARM

Semiconductors & Semiconductor Equipment industry group

6.35

Max: 10.33
ARM: 6.35
Q3: 5.62
Median: 3.33
Q1: 2.35
Min: 1.03

ASX

Semiconductors & Semiconductor Equipment industry group

1.16

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

Arm Holdings (ARM) at 0.06 carries an industry-typical debt-to-equity mix, while ASE (ASX) at 0.87 uses more debt funding than most peers.

ARM

Semiconductors & Semiconductor Equipment industry group

0.06

Max: 1.46
Q3: 0.65
Median: 0.27
ARM: 0.06
Q1: 0.04
Min: 0.00

ASX

Semiconductors & Semiconductor Equipment industry group

0.87

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Current Ratio (MRQ)	6.35	1.16
Debt / Equity (MRQ)	0.06	0.87
Net Debt / EBITDA	-2.77	1.85

Dividends

Dividend Yield (TTM)

Neither Arm Holdings (ARM) nor ASE (ASX) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

ARM

Semiconductors & Semiconductor Equipment industry group

0.00%

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

ASX

Semiconductors & Semiconductor Equipment industry group

0.00%

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Arm Holdings (ARM) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile ASE (ASX) reports a payout of 39.77%, ranking against industry peers normally.

ARM

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
ARM: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ASX

Semiconductors & Semiconductor Equipment industry group

39.77%

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	39.77%

Valuation

P/E Ratio (TTM)

ASE (ASX) at 30.41 is near its industry’s usual P/E ratio, while Arm Holdings (ARM) at 200.71 sits above its peer range — an unusually expensive price for ARM’s trailing earnings.

ARM

Semiconductors & Semiconductor Equipment industry group

200.71

ARM: 200.71
Max: 110.34
Q3: 66.81
Median: 37.02
Q1: 23.96
Min: 8.12

ASX

Semiconductors & Semiconductor Equipment industry group

30.41

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

ASE (ASX) at 0.09 sits in the cheaper P/S ratio quartile while Arm Holdings (ARM) at 34.20 prices above its industry range — a wide gap in sales valuation between them.

ARM

Semiconductors & Semiconductor Equipment industry group

34.20

ARM: 34.20
Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
Min: 0.00

ASX

Semiconductors & Semiconductor Equipment industry group

0.09

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

ASE (ASX) at 5.34 sits near its industry’s typical P/B ratio, while Arm Holdings (ARM) at 20.56 prices above its benchmark range — ARM looks rich relative to book.

ARM

Semiconductors & Semiconductor Equipment industry group

20.56

ARM: 20.56
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

ASX

Semiconductors & Semiconductor Equipment industry group

5.34

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

Arm Holdings (ARM) vs. ASE (ASX): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Arm Holdings (ARM) and ASE (ASX)
Metric	ARM	ASX
P/E Ratio (TTM)	200.71	30.41
P/S Ratio (TTM)	34.20	0.09
P/B Ratio (MRQ)	20.56	5.34
Free Cash Flow Yield (TTM)	0.61%	-275.26%