ASX vs. UMC: ASE vs. United Microelectronics Stock Comparison

November 11, 2026

How do ASE (ASX) and United Microelectronics (UMC) 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 United Microelectronics (UMC) are both classified in the Semiconductors sub-industry within the broader Semiconductors & Semiconductor Equipment industry, placing them in the closest GICS peer bucket.

Both ASE (ASX) and United Microelectronics (UMC) 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 ASE (ASX) and United Microelectronics (UMC)
Profile Item	ASX	UMC
Name	ASE Technology Holding Co., Ltd. ADR	United Microelectronics Corp. ADR
Country/Region	Taiwan	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	69.83 billion USD	34.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 2, 2000	September 19, 2000
Security Type	ADR	ADR

Price Performance

Cumulative Growth

ASX

UMC

GSPC

ASE (ASX) vs. United Microelectronics (UMC), 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 United Microelectronics (UMC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ASE (ASX) and United Microelectronics (UMC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
Total Return (1Y)	127.56%	102.63%
Total Return (3Y, Annualized)	67.56%	31.57%
Total Return (5Y, Annualized)	41.55%	11.51%

Risk Profile

Drawdown History

ASX

UMC

GSPC

ASE (ASX) vs. United Microelectronics (UMC), 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 United Microelectronics (UMC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
Volatility (1Y, Annualized)	62.95%	67.94%
Beta (5Y)	1.83	1.77
Max Drawdown (5Y)	-40.64%	-54.30%
Avg. Volume (3M)	7.76M	11.82M

Risk-Adjusted Performance

Risk-Return Positioning

ASX and UMC 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 United Microelectronics (UMC)
Metric	ASX	UMC
Sharpe Ratio (1Y)	1.96	1.45
Sortino Ratio (1Y)	2.77	2.35

Profitability

ROE (TTM)

Both ASE (ASX) at 19.90% and United Microelectronics (UMC) at 20.37% 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%

UMC

Semiconductors & Semiconductor Equipment industry group

20.37%

Max: 52.82%
Q3: 22.26%
UMC: 20.37%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

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

Net Margin (TTM)

United Microelectronics (UMC) at 31.95% retains a top-quartile share of revenue as profit, ahead of ASE (ASX) at 9.78%, which keeps about the industry-typical share.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

31.95%

Max: 63.80%
UMC: 31.95%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

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

Operating Margin (TTM)

Both ASE (ASX) at 13.57% and United Microelectronics (UMC) at 25.09% 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%

UMC

Semiconductors & Semiconductor Equipment industry group

25.09%

Max: 58.66%
Q3: 30.23%
UMC: 25.09%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

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

Profitability Metrics

Profitability metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
ROE (TTM)	19.90%	20.37%
ROA (TTM)	5.36%	5.79%
Net Margin (TTM)	9.78%	31.95%
Operating Margin (TTM)	13.57%	25.09%
Gross Margin (TTM)	20.80%	31.72%

Growth

Revenue Growth

Both ASE (ASX) at 8.39% and United Microelectronics (UMC) at 2.26% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

ASE (ASX) vs. United Microelectronics (UMC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both ASE (ASX) at 22.96% and United Microelectronics (UMC) at -12.57% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

ASE (ASX) vs. United Microelectronics (UMC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
Revenue Growth (YoY)	8.39%	2.26%
Revenue Growth (3Y CAGR)	-1.28%	-5.19%
EPS Growth (YoY)	22.96%	-12.57%
EPS Growth (3Y CAGR)	-13.66%	-21.92%

Financial Strength

Current Ratio (MRQ)

United Microelectronics (UMC) at 3.27 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

UMC

Semiconductors & Semiconductor Equipment industry group

3.27

Max: 10.33
Q3: 5.62
Median: 3.33
UMC: 3.27
Q1: 2.35
Min: 1.03

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

Debt / Equity (MRQ)

United Microelectronics (UMC) at 0.17 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

UMC

Semiconductors & Semiconductor Equipment industry group

0.17

Max: 1.46
Q3: 0.65
Median: 0.27
UMC: 0.17
Q1: 0.04
Min: 0.00

ASE (ASX) vs. United Microelectronics (UMC): 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 United Microelectronics (UMC)
Metric	ASX	UMC
Current Ratio (MRQ)	1.16	3.27
Debt / Equity (MRQ)	0.87	0.17
Net Debt / EBITDA	1.85	-0.60

Dividends

Dividend Yield (TTM)

ASE (ASX) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile United Microelectronics (UMC) reports a yield of 19.43%, ranking against industry peers normally.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

19.43%

UMC: 19.43%
Max: 1.37%
Q3: 0.65%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both ASE (ASX) at 39.77% and United Microelectronics (UMC) at 37.46% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

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%

UMC

Semiconductors & Semiconductor Equipment industry group

37.46%

Max: 49.64%
UMC: 37.46%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
Dividend Yield (TTM)	0.00%	19.43%
Dividend Payout Ratio (TTM)	39.77%	37.46%

Valuation

P/E Ratio (TTM)

United Microelectronics (UMC) at 13.07 sits in the cheaper P/E ratio quartile, while ASE (ASX) at 30.41 is closer to its industry’s usual earnings multiple — a discount for UMC, though growth and earnings durability still matter.

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

UMC

Semiconductors & Semiconductor Equipment industry group

13.07

Max: 110.34
Q3: 66.81
Median: 37.02
Q1: 23.96
UMC: 13.07
Min: 8.12

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

P/S Ratio (TTM)

Both ASE (ASX) at 0.09 and United Microelectronics (UMC) at 0.13 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

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

UMC

Semiconductors & Semiconductor Equipment industry group

0.13

Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
UMC: 0.13
Min: 0.00

ASE (ASX) vs. United Microelectronics (UMC): 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 United Microelectronics (UMC) at 2.39 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

UMC

Semiconductors & Semiconductor Equipment industry group

2.39

Max: 14.06
Q3: 7.44
Median: 4.29
UMC: 2.39
Q1: 2.30
Min: 0.20

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

Valuation Metrics

Valuation metrics for ASE (ASX) and United Microelectronics (UMC)
Metric	ASX	UMC
P/E Ratio (TTM)	30.41	13.07
P/S Ratio (TTM)	0.09	0.13
P/B Ratio (MRQ)	5.34	2.39
Free Cash Flow Yield (TTM)	-275.26%	129.43%