ASE Technology (NYSE: ASX) Q1 2026 revenue jumps 17.2% with EPS at NT$3.24
Rhea-AI Filing Summary
ASE Technology Holding reported strong first-quarter 2026 results with unaudited consolidated net revenues of NT$173,662 million, up 17.2% year-over-year and slightly down 2.4% from the prior quarter. Net income attributable to shareholders was NT$14,148 million, up from NT$7,554 million a year earlier and modestly below NT$14,713 million in the previous quarter.
Basic earnings per share were NT$3.24, compared with NT$1.75 in 1Q25 and NT$3.37 in 4Q25. EBITDA reached NT$38,165 million, compared with NT$27,628 million in 1Q25. The ATM segment generated net revenues of NT$112,434 million and operating income of NT$15,877 million, while the EMS segment delivered net revenues of NT$61,875 million and operating income of NT$1,906 million.
Total assets rose to NT$957,527 million as of March 31, 2026, with equity attributable to shareholders of NT$350,617 million. The net debt to equity ratio improved to 0.40. Operating activities provided NT$36,387 million of cash, while capital expenditures of NT$44,092 million led to a small decrease in cash and cash equivalents to NT$87,811 million.
Positive
- Strong year-over-year growth: Q1 2026 consolidated net revenues rose 17.2% year-over-year to NT$173,662 million, while net income attributable to shareholders increased to NT$14,148 million from NT$7,554 million in Q1 2025, with basic EPS improving from NT$1.75 to NT$3.24.
Negative
- None.
Insights
Q1 2026 shows solid year-over-year growth with continued heavy investment.
ASE Technology Holding delivered net revenues of NT$173,662 million in 1Q26, a 17.2% year-over-year increase. Net income attributable to shareholders rose to NT$14,148 million, nearly double 1Q25, while basic EPS improved to NT$3.24 from NT$1.75.
Profitability remained healthy, with consolidated EBITDA at NT$38,165 million versus NT$27,628 million a year earlier. The ATM business contributed net revenues of NT$112,434 million and operating income of NT$15,877 million, and EMS added NT$61,875 million of net revenues and NT$1,906 million of operating income.
The company continued to invest aggressively, recording ATM equipment capex of US$963 million and EMS capex of US$40 million. Operating cash flow of NT$36,387 million was outweighed by NT$44,092 million of property, plant and equipment spending, leading to a modest cash decline but an improved net debt to equity ratio of 0.40 as of March 31, 2026.
Key Figures
Key Terms
EBITDA financial
net revenues financial
non-operating income financial
net debt to equity ratio financial
right-of-use assets financial
equity-method investments financial
Earnings Snapshot
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
April 2026
Commission File Number 001-16125
ASE Technology Holding Co., Ltd.
(Translation of registrant’s name into English)
26, Chin 3rd Road
Kaohsiung, Taiwan
Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F ☒ Form 40-F ☐ |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ASE TECHNOLOGY HOLDING CO., LTD. | ||
| Date: April 29, 2026 | By: | /s/ Joseph Tung |
| Name: Joseph Tung | ||
| Title: Chief Financial Officer | ||
Investor Relations Contact:
ir@aseglobal.com
Tel: +886.2.6636.5678
https://www.aseglobal.com
ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the First Quarter of 2026
Taipei, April 29, 2026 – ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”), the leading provider of semiconductor assembly and testing services (“ATM”) and the provider of electronic manufacturing services (“EMS”), today reported its unaudited1 net revenues of NT$173,662 million for 1Q26, up by 17.2% year-over-year and down by 2.4% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$14,148 million, up from NT$7,554 million in 1Q25 and down from NT$14,713 million in 4Q25. Basic earnings per share for the quarter were NT$3.24 (or US$0.205 per ADS), compared to NT$1.75 for 1Q25 and NT$3.37 for 4Q25. Diluted earnings per share for the quarter were NT$3.08 (or US$0.195 per ADS), compared to NT$1.64 for 1Q25 and NT$3.24 for 4Q25.
RESULTS OF OPERATIONS
1Q26 Results Highlights – Consolidated
| l | Net revenues from packaging operations, testing operations, EMS operations, and others represented approximately 51%, 12%, 36%, and 1% of the total net revenues for the quarter, respectively. |
| l | Cost of revenues was NT$138,812 million for the quarter, down from NT$143,179 million in 4Q25. |
| - | Raw material cost totaled NT$79,472 million for the quarter, representing 46% of the total net revenues. |
| - | Labor cost totaled NT$20,608 million for the quarter, representing 12% of the total net revenues. |
| - | Depreciation, amortization and rental expenses totaled NT$17,276 million for the quarter. |
| l | Gross margin increased by 0.6 percentage points to 20.1% in 1Q26 from 19.5% in 4Q25. |
| l | Operating margin was 10.1% in 1Q26, compared to 9.9% in 4Q25. |
| l | Non-operating items: |
| - | Net interest expense was NT$1,576 million. |
| - | Net gain on foreign exchange hedging activities of NT$838 million. |
1 All financial information presented in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards as endorsed for use in the R.O.C.). Such financial information is generated internally by us and has not been subjected to the same review and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we subject our year-end audited consolidated financial statements, and may vary materially from the year-end audited consolidated financial information for the same period. Any evaluation of the financial information presented in this press release should also take into account our published year-end audited consolidated financial statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results of operations for any future period.
| 1 |
| - | Net gain on equity-method investments was NT$728 million. |
| - | Other net non-operating income was NT$678 million, primarily attributable to miscellaneous income. |
Total non-operating income for the quarter was NT$668 million.
| l | Income before tax was NT$18,200 million in 1Q26, compared to NT$18,260 million in 4Q25. We recorded income tax expenses of NT$3,635 million for the quarter, compared to NT$3,248 million in 4Q25. |
| l | Net income attributable to shareholders of the parent was NT$14,148 million in 1Q26, compared to NT$7,554 million in 1Q25 and NT$14,713 million in 4Q25. |
| l | Our total number of shares outstanding at the end of the quarter was 4,460,833,082, including treasury stock owned by our subsidiaries in 1Q26. Our 1Q26 basic earnings per share of NT$3.24 (or US$0.205 per ADS) were based on 4,373,148,411 weighted average number of shares outstanding in 1Q26. Our 1Q26 diluted earnings per share of NT$3.08 (or US$0.195 per ADS) were based on 4,485,185,933 weighted average number of shares outstanding in 1Q26. |
1Q26 Results Highlights – ATM
| l | Net revenues were NT$112,434 million for the quarter, up by 29.7% year-over-year and up by 2.5% sequentially. |
| l | Cost of revenues was NT$83,236 million for the quarter, up by 24.1% year-over-year and up by 2.9% sequentially. |
| - | Raw material cost totaled NT$31,784 million for the quarter, representing 28% of the total net revenues. |
| - | Labor cost totaled NT$17,084 million for the quarter, representing 15% of the total net revenues. |
| - | Depreciation, amortization and rental expenses totaled NT$15,817 million for the quarter. |
| l | Gross margin decreased by 0.3 percentage points to 26.0% in 1Q26 from 26.3% in 4Q25. |
| l | Operating margin was 14.1% in 1Q26, compared to 14.7% in 4Q25. |
1Q26 Results Highlights – EMS
| l | Net revenues were NT$61,875 million, down by 0.7% year-over-year and down by 10.3% sequentially. |
| l | Cost of revenues for the quarter was NT$55,981 million, down by 1.4% year-over-year and down by 10.8% sequentially. |
| - | Raw material cost totaled NT$48,073 million for the quarter, representing 78% of the total net revenues. |
| - | Labor cost totaled NT$3,434 million for the quarter, representing 6% of the total net revenues. |
| - | Depreciation, amortization and rental expenses totaled NT$1,215 million for the quarter. |
| l | Gross margin increased by 0.5 percentage points to 9.5% in 1Q26 from 9.0% in 4Q25. |
| l | Operating margin was 3.1% in 1Q26, compared to 2.8% in 4Q25. |
| 2 |
LIQUIdiTY AND CAPITAL RESOURCES
| l | Equipment capital expenditures in 1Q26 totaled US$1,003 million, of which US$636 million was used in packaging operations, US$326 million in testing operations, US$40 million in EMS operations and US$1 million in interconnect materials operations and others. |
| l | Total unused credit lines amounted to NT$419,386 million as of March 31, 2026. |
| l | Current ratio was 1.15 and net debt to equity ratio was 0.40 as of March 31, 2026. |
| l | Total number of employees was 107,950 as of March 31, 2026, compared to 105,947 as of December 31, 2025. |
Business Review
Customers
ATM Basis
| l | Our five largest customers together accounted for approximately 43% of our total net revenues in 1Q26, compared to 41% in 4Q25. One customer accounted for more than 10% of our total net revenues in 1Q26. |
| l | Our top 10 customers contributed 58% of our total net revenues in both 1Q26 and 4Q25. |
| l | Our customers that are integrated device manufacturers or IDMs accounted for 38% of our total net revenues in 1Q26, compared to 35% in 4Q25. |
EMS Basis
| l | Our five largest customers together accounted for approximately 64% of our total net revenues in 1Q26, compared to 70% in 4Q25. One customer accounted for more than 10% of our total net revenues in 1Q26. |
| l | Our top 10 customers contributed 71% of our total net revenues in 1Q26, compared to 76% in 4Q25. |
About ASE Technology Holding Co., Ltd.
ASEH is the leading provider of semiconductor manufacturing services in assembly and test. The Company develops and offers complete turnkey solutions covering front-end engineering test, wafer probing and final test, as well as packaging, materials and electronic manufacturing services through USI with superior technologies, breakthrough innovations, and advanced development programs. With advanced technological capabilities and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia, the Philippines, Vietnam, Mexico, and Tunisia as well as the United States and Europe, ASEH has established a reputation for reliable, high quality products and services.
For more information, please visit our website at https://www.aseglobal.com.
Safe Harbor Notice
This press release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities;
| 3 |
demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2025 Annual Report on Form 20-F filed on April 1, 2026.
| 4 |
Supplemental Financial Information
(Unaudited)
Consolidated Operations
| 1Q26 | 4Q25 | 1Q25 | |
| EBITDA2 (NT$ million) | 38,165 | 38,344 | 27,628 |
ATM Operations
| 1Q26 | 4Q25 | 1Q25 | |
| Net Revenues (NT$ million) | 112,434 | 109,707 | 88,668 |
| Revenues by Application | |||
| Communication | 43% | 45% | 48% |
| Computing | 27% | 25% | 22% |
| Automotive, Consumer & Others | 30% | 30% | 30% |
| Revenues by Type | |||
| Bumping, Flip Chip, WLP & SiP | 49% | 49% | 46% |
| Wirebonding | 24% | 24% | 28% |
| Others | 7% | 7% | 6% |
| Testing | 19% | 19% | 18% |
| Material | 1% | 1% | 2% |
| Capacity & EBITDA | |||
| Equipment CapEx (US$ million) | 963 | 704 | 869 |
| EBITDA2 (NT$ million) | 34,524 | 34,451 | 24,146 |
| Number of Wirebonders | 24,926 | 25,001 | 25,222 |
| Number of Testers | 7,585 | 7,359 | 6,686 |
EMS Operations
| 1Q26 | 4Q25 | 1Q25 | |
| Net Revenues (NT$ million) | 61,875 | 68,991 | 62,295 |
| Revenues by Application | |||
| Communication | 25% | 30% | 33% |
| Computing | 15% | 11% | 11% |
| Consumer | 35% | 36% | 31% |
| Industrial | 14% | 13% | 13% |
| Automotive | 9% | 8% | 10% |
| Others | 2% | 2% | 2% |
| Capacity | |||
| Equipment CapEx (US$ million) | 40 | 28 | 23 |
2 EBITDA stands for net income or loss before interest, taxes, depreciation, amortization, impairment and investment gain or loss as well as other items.
| 5 |
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
(In NT$ million, except per share data)
(Unaudited)
| For the three months ended | |||||
|
Mar. 31 2026 |
Dec. 31 2025 |
Mar. 31 2025 | |||
| Net revenues | |||||
| Packaging | 88,981 | 86,465 | 68,411 | ||
| Testing | 21,041 | 20,863 | 16,004 | ||
| EMS | 61,361 | 68,555 | 61,860 | ||
| Others | 2,279 | 2,032 | 1,878 | ||
| Total net revenues | 173,662 | 177,915 | 148,153 | ||
| Cost of revenues | (138,812) | (143,179) | (123,260) | ||
| Gross profit | 34,850 | 34,736 | 24,893 | ||
| Operating expenses | |||||
| Research and development | (9,210) | (8,960) | (7,579) | ||
| Selling, general and administrative | (8,108) | (8,086) | (7,643) | ||
| Total operating expenses | (17,318) | (17,046) | (15,222) | ||
| Operating income | 17,532 | 17,690 | 9,671 | ||
| Net non-operating income and expenses | |||||
| Interest expense - net | (1,576) | (1,712) | (1,256) | ||
| Foreign exchange loss - net | (2,225) | (2,992) | (1,675) | ||
| Gain on valuation of financial assets and liabilities - net | 3,063 | 4,376 | 2,873 | ||
| Gain on equity-method investments - net | 728 | 257 | 40 | ||
| Others - net | 678 | 641 | 157 | ||
| Total non-operating income and expenses | 668 | 570 | 139 | ||
| Income before tax | 18,200 | 18,260 | 9,810 | ||
| Income tax expense | (3,635) | (3,248) | (2,022) | ||
| Income from operations and before non-controlling interests | 14,565 | 15,012 | 7,788 | ||
| Non-controlling interests | (417) | (299) | (234) | ||
| Net income attributable to shareholders of the parent | 14,148 | 14,713 | 7,554 | ||
| Per share data: | |||||
| Earnings per share | |||||
| – Basic | NT$3.24 | NT$3.37 | NT$1.75 | ||
| – Diluted | NT$3.08 | NT$3.24 | NT$1.64 | ||
| Earnings per equivalent ADS | |||||
| – Basic | US$0.205 | US$0.219 | US$0.106 | ||
| – Diluted | US$0.195 | US$0.210 | US$0.100 | ||
| Number of weighted average shares used in diluted EPS calculation (in thousand shares) | 4,485,186 | 4,462,335 | 4,410,238 | ||
| FX (NTD/USD) | 31.53 | 30.88 | 32.79 | ||
| 6 |
ASE Technology Holding Co., Ltd.
Summary of ATM Statement of Income Data
(In NT$ million)
(Unaudited)
| For the three months ended | |||||
|
Mar. 31 2026 |
Dec. 31 2025 |
Mar. 31 2025 | |||
| Net revenues: | |||||
| Packaging | 89,673 | 87,397 | 69,360 | ||
| Testing | 21,041 | 20,863 | 16,004 | ||
| Direct Material | 1,621 | 1,352 | 1,219 | ||
| Others | 99 | 95 | 85 | ||
| Total net revenues | 112,434 | 109,707 | 86,668 | ||
| Cost of revenues | (83,236) | (80,883) | (67,057) | ||
| Gross profit | 29,198 | 28,824 | 19,611 | ||
| Operating expenses: | |||||
| Research and development | (7,497) | (7,182) | (6,043) | ||
| Selling, general and administrative | (5,824) | (5,561) | (5,233) | ||
| Total operating expenses | (13,321) | (12,743) | (11,276) | ||
| Operating income | 15,877 | 16,081 | 8,335 | ||
| 7 |
ASE Technology Holding Co., Ltd.
Summary of EMS Statement of Income Data
(In NT$ million)
(Unaudited)
| For the three months ended | |||||
|
Mar. 31 2026 |
Dec. 31 2025 |
Mar. 31 2025 | |||
| Net revenues | 61,875 | 68,991 | 62,295 | ||
| Cost of revenues | (55,981) | (62,752) | (56,767) | ||
| Gross profit | 5,894 | 6,239 | 5,528 | ||
| Operating expenses: | |||||
| Research and development | (1,751) | (1,813) | (1,580) | ||
| Selling, general and administrative | (2,237) | (2,467) | (2,340) | ||
| Total operating expenses | (3,988) | (4,280) | (3,920) | ||
| Operating income | 1,906 | 1,959 | 1,608 | ||
| 8 |
ASE Technology Holding Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ million)
(Unaudited)
|
As of Mar. 31, 2026 |
As of Dec. 31, 2025 | |||||
| Current assets | ||||||
| Cash and cash equivalents | 87,811 | 92,469 | ||||
| Financial assets – current | 26,141 | 9,514 | ||||
| Trade receivables | 126,007 | 125,042 | ||||
| Inventories | 76,043 | 69,383 | ||||
| Others | 21,696 | 17,387 | ||||
| Total current assets | 337,698 | 313,795 | ||||
| Financial assets - non-current & investments - equity -method | 50,602 | 45,677 | ||||
| Property, plant and equipment | 459,470 | 421,115 | ||||
| Right-of-use assets | 12,265 | 12,636 | ||||
| Intangible assets | 65,042 | 64,807 | ||||
| Others | 32,450 | 31,303 | ||||
| Total assets | 957,527 | 889,333 | ||||
| Current liabilities | ||||||
| Short-term borrowings3 | 49,724 | 43,328 | ||||
| Long-term debts - current portion | 6,091 | 6,688 | ||||
| Trade payables | 86,898 | 88,754 | ||||
| Others | 151,789 | 105,579 | ||||
| Total current liabilities | 294,502 | 244,349 | ||||
| Bonds payable | 1,999 | 11,468 | ||||
| Long-term borrowings3 | 199,142 | 202,613 | ||||
| Other liabilities | 80,740 | 57,536 | ||||
| Total liabilities | 576,383 | 515,966 | ||||
| Equity attributable to shareholders of the parent | 350,617 | 346,900 | ||||
| Non-controlling interests | 30,527 | 26,467 | ||||
| Total liabilities & shareholders’ equity | 957,527 | 889,333 | ||||
| Current ratio | 1.15 | 1.28 | ||||
| Net debt to equity ratio | 0.40 | 0.46 |
3 Borrowings include bank loans and bills payable.
| 9 |
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Cash Flow Data
(In NT$ million)
(Unaudited)
| For the three months ended | ||||||||||||
| Mar. 31 2026 |
Dec. 31 |
Mar. 31 2025 |
||||||||||
| Cash Flows from Operating Activities: | ||||||||||||
| Income before tax | 18,200 | 18,260 | 9,810 | |||||||||
| Depreciation & amortization | 18,648 | 17,825 | 16,092 | |||||||||
| Other operating activities items | (461) | 34,720 | (5,929) | |||||||||
| Net cash generated from operating activities | 36,387 | 70,805 | 19,973 | |||||||||
| Cash Flows from Investing Activities: | ||||||||||||
| Net payments for property, plant and equipment | (44,092) | (37,776) | (36,349) | |||||||||
| Other investment activities items | (1,653) | (818) | (1,212) | |||||||||
| Net cash used in investing activities | (45,745) | (38,594) | (37,561) | |||||||||
| Cash Flows from Financing Activities: | ||||||||||||
| Net proceeds from (repayment of) borrowings and bonds | 73 | (20,783) | 16,149 | |||||||||
| Other financing activities items | 765 | 426 | 262 | |||||||||
| Net cash generated from (used in) financing activities | 838 | (20,357) | 16,411 | |||||||||
| Foreign currency exchange effect | 3,862 | 5,473 | 1,784 | |||||||||
| Net increase (decrease) in cash and cash equivalents | (4,658) | 17,327 | 607 | |||||||||
| Cash and cash equivalents at the beginning of period | 92,469 | 75,142 | 76,493 | |||||||||
| Cash and cash equivalents at the end of period | 87,811 | 92,469 | 77,100 | |||||||||
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