ASE Technology Holding Co., Ltd. (ASX) Financials

ASX

FY2025 annual

Revenue $20.6B +13.3% YoY

Net Income $1.3B +27.3% YoY

Free Cash Flow -$713.8M -307.8% YoY

Operating Cash Flow $4.5B +63.8% YoY

Market Cap $120.9B as of Oct 10, 2026

Price / Sales 5.9x on $20.6B revenue, FY2025

Price / Earnings 92.1x on $1.3B net income, FY2025

Price / Book 10.3x on $11.8B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 1, 2026 Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Apr 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ASX SEC filings page.

ASE Technology Holding Co., Ltd. (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).

Rhea AI ASX FY2025 2026-10-04

2025’s earnings recovered, but a capital-spending surge consumed cash, making expansion—not profitability—the main financial story.

In FY2025, operating cash flow reached $4.5B while free cash flow fell to -$713.8M, showing that reported earnings were converted into cash but reinvestment absorbed more than that internally generated amount. Compared with FY2024’s $343.6M of free cash flow, the reversal points to an unusually heavy investment year rather than a deterioration in cash collection.

Revenue recovery did not restore earlier profitability: FY2025 revenue reached $20.6B, while net profit margin was only 6.4%. That margin remained below FY2022’s 9.6%, indicating that the rebound in activity has not yet recreated the prior earnings structure.

The balance sheet expanded without heavy long-term leverage: total assets rose to $28.4B alongside $16.6B of liabilities, while the current ratio remained around 1.3x. The combination suggests growth was funded mainly through operating liabilities and equity-supported resources rather than a large debt burden.

Financial Health Signals

Financial Health Score 32/100

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 Holding Co., Ltd.'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.

Profitability

Not available for ASE Technology Holding Co., Ltd., and counted as zero in the overall score.

Growth

ASE Technology Holding Co., Ltd.'s revenue grew 13.3% year-over-year to $20.6B, a solid pace of expansion. This earns a growth score of 45/100.

Leverage

ASE Technology Holding Co., Ltd. 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.

Liquidity

ASE Technology Holding Co., Ltd.'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.

Cash Flow

While ASE Technology Holding Co., Ltd. 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 28/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Not available for ASE Technology Holding Co., Ltd., and counted as zero in the overall score.

Piotroski F-Score Partial

6/8

ASE Technology Holding Co., Ltd. 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.

Earnings Quality Cash-Backed

3.45x

For every $1 of reported earnings, ASE Technology Holding Co., Ltd. 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

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$2.9B

YoY+20.9%

QoQ+20.9%

ASE Technology Holding Co., Ltd. held $2.9B in cash against $251.2M in long-term debt as of Q4 2025, with $7.9B of liabilities due within a year.

Shares Outstanding

4.45B

YoY+0.7%

QoQ+0.7%

ASE Technology Holding Co., Ltd. had 4.45B shares outstanding in Q4 2025. This represents an increase of 0.7% from the same quarter a year earlier. Against the prior quarter it is up 0.7%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ASX quarterly income statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
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	$238.4M+15.8%	$205.8M+1.0%	$203.8M+57.0%	$129.8M+28.7%	$100.9M-17.6%	$122.4M-12.6%	$140.0M+21.2%	$115.5M+92.9%	$59.9M
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
Diluted Shares (Avg)	4.43B+0.9%	4.39B+1.0%	4.35B+0.6%	4.32B-1.0%	4.37B+1.8%	4.29B+0.6%	4.26B+0.3%	4.25B	4.18B

Metric	Q4'2520-F	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

ASX Balance Sheet

ASX quarterly balance sheet

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
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
Non-Current Liabilities	$8.7B+73.2%	$5.0B+21.3%	$4.1B-23.1%	$5.4B-20.7%	$6.8B+7.3%	$6.3B-0.7%	$6.4B+24.4%	$5.1B+179.2%	$1.8B
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

Metric	Q4'2520-F	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
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%
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%
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%
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%
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%
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%
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%
Non-Current Liabilities	$8.7B+73.2%	$5.0B+21.3%	$4.1B-23.1%	$5.4B-20.7%	$6.8B+7.3%	$6.3B-0.7%	$6.4B+24.4%	$5.1B+179.2%
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
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%
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%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.

ASX Cash Flow Statement

ASX quarterly cash flow statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
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

Metric	Q4'2520-F	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

ASX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ASX quarterly financial ratios

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
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
Asset Turnover	0.73-0.1x	0.80-0.1x	0.87-0.1x	0.95+0.1x	0.850.0x	0.82+0.1x	0.740.0x	0.69-0.1x	0.80
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%

Metric	Q4'2520-F	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
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
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

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ASE Technology Holding Co., Ltd. ASX	FY2025	$20.6B	$1.3B	6.4%	$120.9B	32/100
STMicroelectronics N.V. STM	FY2025	$11.8B	$166.0M	1.4%	$46.6B	49/100
Credo Technology Group CRDO	FY2026	$1.3B	$472.3M	35.4%	$40.7B	78/100
ON Semiconductor Corp ON	FY2025	$6.0B	$121.0M	2.0%	$30.2B	59/100
GlobalFoundries Inc. GFS	FY2025	$6.8B	$888.0M	13.1%	$26.9B	42/100
United Microelectronic Corp. UMC	FY2025	$7.6B	$1.3B	16.9%	$57.6B	43/100

Where ASE Technology Holding Co., Ltd. Ranks

Frequently Asked Questions

What is ASE Technology Holding Co., Ltd.'s annual revenue?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s revenue growing?

ASE Technology Holding Co., Ltd. (ASX) revenue grew by 13.3% year-over-year, from $18.2B to $20.6B in fiscal year 2025.

Is ASE Technology Holding Co., Ltd. profitable?

Yes, ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd. have?

As of fiscal year 2025, ASE Technology Holding Co., Ltd. (ASX) had $2.9B in cash and equivalents against $251.2M in long-term debt.

What is ASE Technology Holding Co., Ltd.'s net profit margin?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s return on equity (ROE)?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s free cash flow?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s operating cash flow?

ASE Technology Holding Co., Ltd. (ASX) generated $4.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ASE Technology Holding Co., Ltd.'s total assets?

ASE Technology Holding Co., Ltd. (ASX) had $28.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are ASE Technology Holding Co., Ltd.'s capital expenditures?

ASE Technology Holding Co., Ltd. (ASX) invested $5.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does ASE Technology Holding Co., Ltd. have outstanding?

ASE Technology Holding Co., Ltd. (ASX) had 4.45B shares outstanding as of fiscal year 2025.

What is ASE Technology Holding Co., Ltd.'s current ratio?

ASE Technology Holding Co., Ltd. (ASX) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.

What is ASE Technology Holding Co., Ltd.'s debt-to-equity ratio?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s return on assets (ROA)?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s P/E ratio?

ASE Technology Holding Co., Ltd. (ASX) trades at 92.1x earnings, its market capitalization divided by net income of $1.3B net income, FY2025. The market capitalization is $120.9B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ASE Technology Holding Co., Ltd.'s price-to-sales ratio?

ASE Technology Holding Co., Ltd. (ASX) trades at 5.9x sales, its market capitalization divided by revenue of $20.6B revenue, FY2025. The market capitalization is $120.9B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ASE Technology Holding Co., Ltd.'s Piotroski F-Score?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.'s earnings high quality?

ASE Technology Holding Co., Ltd. (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 Holding Co., Ltd.?

ASE Technology Holding Co., Ltd. (ASX) scores 32 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.