ASX vs. TSEM: ASE vs. Tower Semiconductor Stock Comparison

November 11, 2026

How do ASE (ASX) and Tower Semiconductor (TSEM) 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

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

Tower Semiconductor (TSEM) trades as ordinary local shares, while ASE (ASX) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for ASE (ASX) and Tower Semiconductor (TSEM)
Profile Item	ASX	TSEM
Name	ASE Technology Holding Co., Ltd. ADR	Tower Semiconductor Ltd.
Country/Region	Taiwan	Israel
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	69.83 billion USD	15.59 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	October 2, 2000	October 26, 1994
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

ASX

TSEM

GSPC

ASE (ASX) vs. Tower Semiconductor (TSEM), 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 ASE (ASX) and Tower Semiconductor (TSEM). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ASE (ASX) and Tower Semiconductor (TSEM). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Total Return (1Y)	127.56%	78.71%
Total Return (3Y, Annualized)	67.56%	83.79%
Total Return (5Y, Annualized)	41.55%	32.56%

Risk Profile

Drawdown History

ASX

TSEM

GSPC

ASE (ASX) vs. Tower Semiconductor (TSEM), 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 ASE (ASX) and Tower Semiconductor (TSEM). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Volatility (1Y, Annualized)	62.95%	84.90%
Beta (5Y)	1.83	0.99
Max Drawdown (5Y)	-40.64%	-58.66%
Avg. Volume (3M)	7.76M	2.22M

Risk-Adjusted Performance

Risk-Return Positioning

ASX and TSEM 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 ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Sharpe Ratio (1Y)	1.96	0.88
Sortino Ratio (1Y)	2.77	1.32

Profitability

ROE (TTM)

Both ASE (ASX) at 19.90% and Tower Semiconductor (TSEM) at 11.86% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

TSEM

Semiconductors & Semiconductor Equipment industry group

11.86%

Max: 52.82%
Q3: 22.26%
TSEM: 11.86%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

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

Net Margin (TTM)

Both ASE (ASX) at 9.78% and Tower Semiconductor (TSEM) at 19.36% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

TSEM

Semiconductors & Semiconductor Equipment industry group

19.36%

Max: 63.80%
Q3: 28.36%
TSEM: 19.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

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

Operating Margin (TTM)

Both ASE (ASX) at 13.57% and Tower Semiconductor (TSEM) at 24.16% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

TSEM

Semiconductors & Semiconductor Equipment industry group

24.16%

Max: 58.66%
Q3: 30.23%
TSEM: 24.16%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

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

Profitability Metrics

Profitability metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
ROE (TTM)	19.90%	11.86%
ROA (TTM)	5.36%	6.07%
Net Margin (TTM)	9.78%	19.36%
Operating Margin (TTM)	13.57%	24.16%
Gross Margin (TTM)	20.80%	29.62%

Growth

Revenue Growth

Both ASE (ASX) at 8.39% and Tower Semiconductor (TSEM) at 9.05% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

ASE (ASX) vs. Tower Semiconductor (TSEM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both ASE (ASX) at 22.96% and Tower Semiconductor (TSEM) at 4.86% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

ASE (ASX) vs. Tower Semiconductor (TSEM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Revenue Growth (YoY)	8.39%	9.05%
Revenue Growth (3Y CAGR)	-1.28%	-2.27%
EPS Growth (YoY)	22.96%	4.86%
EPS Growth (3Y CAGR)	-13.66%	-6.72%

Financial Strength

Current Ratio (MRQ)

Tower Semiconductor (TSEM) at 3.72 keeps current ratio within its industry’s typical mid-range, while ASE (ASX) at 1.16 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ASX.

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

TSEM

Semiconductors & Semiconductor Equipment industry group

3.72

Max: 10.33
Q3: 5.62
TSEM: 3.72
Median: 3.33
Q1: 2.35
Min: 1.03

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

Debt / Equity (MRQ)

Tower Semiconductor (TSEM) at 0.05 carries an industry-typical debt-to-equity mix, while ASE (ASX) at 0.87 uses more debt funding than most peers.

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

TSEM

Semiconductors & Semiconductor Equipment industry group

0.05

Max: 1.46
Q3: 0.65
Median: 0.27
TSEM: 0.05
Q1: 0.04
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Current Ratio (MRQ)	1.16	3.72
Debt / Equity (MRQ)	0.87	0.05
Net Debt / EBITDA	1.85	-1.92

Dividends

Dividend Yield (TTM)

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

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%

TSEM

Semiconductors & Semiconductor Equipment industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

Tower Semiconductor (TSEM) 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.

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%

TSEM

Semiconductors & Semiconductor Equipment industry group

0.00%

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

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

Dividend Metrics

Dividend metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	39.77%	0.00%

Valuation

P/E Ratio (TTM)

Both ASE (ASX) at 30.41 and Tower Semiconductor (TSEM) at 44.16 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

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

TSEM

Semiconductors & Semiconductor Equipment industry group

44.16

Max: 110.34
Q3: 66.81
TSEM: 44.16
Median: 37.02
Q1: 23.96
Min: 8.12

ASE (ASX) vs. Tower Semiconductor (TSEM): 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 Tower Semiconductor (TSEM) at 8.47 prices around its industry’s middle — ASX costs less per dollar of sales, though read it alongside growth and margins.

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

TSEM

Semiconductors & Semiconductor Equipment industry group

8.47

Max: 21.42
Q3: 12.27
TSEM: 8.47
Median: 5.76
Q1: 2.73
Min: 0.00

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

P/B Ratio (MRQ)

On P/B ratio, both ASE (ASX) at 5.34 and Tower Semiconductor (TSEM) at 4.85 are valued close to their industries’ norm against book — neither stands out from peers.

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

TSEM

Semiconductors & Semiconductor Equipment industry group

4.85

Max: 14.06
Q3: 7.44
TSEM: 4.85
Median: 4.29
Q1: 2.30
Min: 0.20

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

Valuation Metrics

Valuation metrics for ASE (ASX) and Tower Semiconductor (TSEM)
Metric	ASX	TSEM
P/E Ratio (TTM)	30.41	44.16
P/S Ratio (TTM)	0.09	8.47
P/B Ratio (MRQ)	5.34	4.85
Free Cash Flow Yield (TTM)	-275.26%	1.59%