ASE Technology Financials
ASE Technology (ASX) reported $20.6B in revenue for fiscal year 2025, up 13.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
ASE's cash engine remained healthy, but FY2025's capex step-up made the business look far more capital-intensive.
FY2025's negative free cash flow came from reinvestment intensity, not weak operations: operating cash flow rose to$4.53B while capex climbed to$5.25B , flipping free cash flow below zero. Because net income was still$1.31B , the gap says the main constraint was how much cash the business put back into assets, not whether earnings were turning into cash.
Sales recovered to roughly their FY2021 level by FY2025, yet net margin was only
The balance sheet still reads as lightly levered: debt-to-equity stayed near 0.02x even with assets up to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of ASE Technology's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for ASE Technology, and counted as zero in the overall score.
ASE Technology's revenue grew 13.3% year-over-year to $20.6B, a solid pace of expansion. This earns a growth score of 46/100.
ASE Technology carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
ASE Technology's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
While ASE Technology generated $4.5B in operating cash flow, capex of $5.2B consumed most of it, leaving -$713.8M in free cash flow. This results in a low score of 32/100, reflecting heavy capital investment rather than weak cash generation.
Not available for ASE Technology, and counted as zero in the overall score.
ASE Technology passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, ASE Technology generates $3.45 in operating cash flow ($4.5B OCF vs $1.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
ASE Technology generated $20.6B in revenue in fiscal year 2025. This represents an increase of 13.3% from the prior year.
ASE Technology reported $1.3B in net income in fiscal year 2025. This represents an increase of 27.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
ASE Technology recorded an outflow of $713.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 307.8% from the prior year.
ASE Technology held $2.9B in cash against $251.2M in long-term debt as of fiscal year 2025, with $7.9B of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
ASE Technology's net profit margin was 6.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.
ASE Technology's ROE was 11.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
ASE Technology invested $5.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 116.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
ASX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.6B+13.3% | $18.2B-4.5% | $19.0B-12.9% | $21.8B+6.2% | $20.5B+21.0% | $17.0B+23.0% | $13.8B+13.9% | $12.1B+23.7% | $9.8B |
| Interest Expense | $6.3M+11.2% | $5.6M+16.0% | $4.9M+10.8% | $4.4M+15.8% | $3.8M+20.9% | $3.1M+5.7% | $3.0M | N/A | N/A |
| Income Tax | $322.2M+33.4% | $241.4M+39.4% | $173.2M-69.0% | $557.9M-13.7% | $646.9M+155.2% | $253.5M+51.3% | $167.5M+13.6% | $147.4M-33.0% | $220.1M |
| Net Income | $1.3B+27.3% | $1.0B-15.4% | $1.2B-42.1% | $2.1B-6.3% | $2.2B+119.9% | $1.0B+67.1% | $610.8M-31.8% | $895.9M+8.4% | $826.5M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
ASX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.4B+25.5% | $22.6B+3.8% | $21.8B-5.4% | $23.0B-5.1% | $24.3B+16.8% | $20.8B+11.6% | $18.6B+6.8% | $17.4B+42.1% | $12.3B |
| Current Assets | $10.0B+19.1% | $8.4B-1.6% | $8.5B-12.7% | $9.8B-7.3% | $10.5B+32.1% | $8.0B+18.1% | $6.8B+2.6% | $6.6B+34.7% | $4.9B |
| Cash & Equivalents | $2.9B+20.9% | $2.4B+18.8% | $2.1B+8.3% | $1.9B-23.4% | $2.5B+33.2% | $1.9B-13.2% | $2.1B+24.3% | $1.7B+14.4% | $1.5B |
| Inventory | $2.1B+19.8% | $1.7B-10.2% | $1.9B-31.5% | $2.8B+16.2% | $2.4B+41.5% | $1.7B+52.5% | $1.1B-5.3% | $1.2B+46.2% | $818.5M |
| Goodwill | $1.7B0.0% | $1.7B+4.7% | $1.6B-6.4% | $1.7B+0.8% | $1.7B-10.8% | $1.9B+6.3% | $1.8B+7.0% | $1.7B+414.8% | $324.6M |
| Total Liabilities | $16.6B+36.5% | $12.2B+5.7% | $11.5B-10.4% | $12.8B-12.1% | $14.6B+16.5% | $12.5B+8.8% | $11.5B+11.9% | $10.3B+87.6% | $5.5B |
| Current Liabilities | $7.9B+10.8% | $7.1B-3.0% | $7.4B-1.2% | $7.5B-4.7% | $7.8B+26.0% | $6.2B+20.5% | $5.2B-0.5% | $5.2B+41.7% | $3.7B |
| Long-Term Debt | $251.2M+20.7% | $208.2M-11.0% | $233.8M+6.8% | $219.0M-7.8% | $237.6M+30.8% | $181.7M+5.0% | $173.1M | N/A | N/A |
| Total Equity | $11.8B+12.6% | $10.4B+1.5% | $10.3B+0.8% | $10.2B+5.5% | $9.7B+17.1% | $8.3B+16.0% | $7.1B-0.6% | $7.2B+5.4% | $6.8B |
| Retained Earnings | $4.4B+18.0% | $3.7B+1.5% | $3.6B-2.3% | $3.7B+20.8% | $3.1B+93.2% | $1.6B+58.5% | $1.0B+29.8% | $776.1M-68.8% | $2.5B |
Not reported in any period shown, so not listed: Accounts Receivable.
ASX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.5B+63.8% | $2.8B-25.9% | $3.7B+3.5% | $3.6B+22.6% | $2.9B+10.2% | $2.7B+10.6% | $2.4B+44.9% | $1.7B+4.3% | $1.6B |
| Capital Expenditures | $5.2B+116.4% | $2.4B+37.1% | $1.8B-25.2% | $2.4B-7.5% | $2.6B+15.6% | $2.2B+16.4% | $1.9B+40.5% | $1.4B+62.3% | $833.3M |
| Free Cash Flow | -$713.8M-307.8% | $343.6M-82.5% | $2.0B+57.7% | $1.2B+219.8% | $390.3M-15.6% | $462.4M-10.7% | $518.0M+63.7% | $316.5M-58.7% | $766.9M |
| Investing Cash Flow | -$5.3B-106.3% | -$2.6B-42.1% | -$1.8B+25.2% | -$2.4B-36.0% | -$1.8B+18.5% | -$2.2B-18.9% | -$1.8B+56.9% | -$4.2B-679.8% | -$542.7M |
| Financing Cash Flow | $1.4B+750.8% | -$221.8M+86.2% | -$1.6B+21.1% | -$2.0B-860.4% | -$211.6M+73.0% | -$783.3M-260.5% | -$217.3M-108.0% | $2.7B+516.5% | -$651.9M |
| Dividends Paid | $734.3M+7.2% | $684.9M-44.6% | $1.2B+26.6% | $975.9M+49.7% | $651.9M+114.8% | $303.5M-14.6% | $355.2M+2.4% | $346.7M-8.4% | $378.3M |
Not reported in any period shown, so not listed: Share Buybacks.
ASX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 6.4%+0.7pp | 5.7%-0.7pp | 6.4%-3.2pp | 9.6%-1.3pp | 10.9%+4.9pp | 6.0%+1.6pp | 4.4%-3.0pp | 7.4%-1.0pp | 8.4% |
| Return on Equity | 11.2%+1.3pp | 9.9%-2.0pp | 11.8%-8.8pp | 20.6%-2.6pp | 23.2%+10.8pp | 12.4%+3.8pp | 8.6%-3.9pp | 12.5%+0.4pp | 12.2% |
| Return on Assets | 4.6%+0.1pp | 4.6%-1.0pp | 5.6%-3.5pp | 9.1%-0.1pp | 9.3%+4.3pp | 4.9%+1.6pp | 3.3%-1.9pp | 5.1%-1.6pp | 6.7% |
| Current Ratio | 1.26+0.1x | 1.170.0x | 1.16-0.2x | 1.310.0x | 1.35+0.1x | 1.280.0x | 1.310.0x | 1.27-0.1x | 1.34 |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.02-1.4x | 1.44+0.6x | 0.81 |
| FCF Margin | -3.5%-5.4pp | 1.9%-8.5pp | 10.4%+4.6pp | 5.7%+3.8pp | 1.9%-0.8pp | 2.7%-1.0pp | 3.8%+1.1pp | 2.6%-5.2pp | 7.8% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Similar Companies
Where ASE Technology Ranks
Frequently Asked Questions
What is ASE Technology's annual revenue?
ASE Technology (ASX) reported $20.6B in total revenue for fiscal year 2025. This represents a 13.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ASE Technology's revenue growing?
ASE Technology (ASX) revenue grew by 13.3% year-over-year, from $18.2B to $20.6B in fiscal year 2025.
Is ASE Technology profitable?
Yes, ASE Technology (ASX) reported a net income of $1.3B in fiscal year 2025, with a net profit margin of 6.4%.
How much debt does ASE Technology have?
As of fiscal year 2025, ASE Technology (ASX) had $2.9B in cash and equivalents against $251.2M in long-term debt.
What is ASE Technology's net profit margin?
ASE Technology (ASX) had a net profit margin of 6.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is ASE Technology's return on equity (ROE)?
ASE Technology (ASX) has a return on equity of 11.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is ASE Technology's free cash flow?
ASE Technology (ASX) recorded an outflow of $713.8M in free cash flow during fiscal year 2025. This represents a -307.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is ASE Technology's operating cash flow?
ASE Technology (ASX) generated $4.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are ASE Technology's total assets?
ASE Technology (ASX) had $28.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are ASE Technology's capital expenditures?
ASE Technology (ASX) invested $5.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is ASE Technology's current ratio?
ASE Technology (ASX) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.
What is ASE Technology's debt-to-equity ratio?
ASE Technology (ASX) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ASE Technology's return on assets (ROA)?
ASE Technology (ASX) had a return on assets of 4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ASE Technology's Piotroski F-Score?
ASE Technology (ASX) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ASE Technology's earnings high quality?
ASE Technology (ASX) has an earnings quality ratio of 3.45x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is ASE Technology?
ASE Technology (ASX) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.