ASXNYSESemiconductors & Related DevicesUS GAAP · USD

ASE Technology Holding Co., Ltd.

ASE Technology Holding Co., Ltd. provides semiconductor assembly and test services, including wafer probing, final testing, packaging, and related materials support. Through its subsidiaries, the group also offers electronic manufacturing services, with operations and customers spanning Asia, the Americas, Europe, and other international markets.

Kysy yhtiöstä
Liikevaihto645,4mrd USD
+8,4 %v/v
Liikevoitto (EBIT)58,8mrd USD
+21,2 %v/v
EBIT-marginaali9,1%
+1,0 %-yks.v/v
Nettotulos40,0mrd USD
+23,6 %v/v
Vapaa kassavirta−23,6mrd USD
−359,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2022–2025

0200400600800mrd USD2022: 670,9 mrd USD2022: EBIT 85,8 mrd USD20222023: 581,9 mrd USD2023: EBIT 48,9 mrd USD20232024: 595,4 mrd USD2024: EBIT 48,5 mrd USD20242025: 645,4 mrd USD2025: EBIT 58,8 mrd USD2025645,458,8
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Assembly and Packaging45 %

Turnkey back-end semiconductor assembly and packaging services for chips.

Testing Services20 %

Wafer probing, final test, and related semiconductor test services.

Advanced Packaging15 %

Bumping, flip chip, wafer-level packaging, and system-in-package solutions.

Electronic Manufacturing Services15 %

EMS production and support for electronics customers through USI.

Materials and Other Services5 %

Supporting materials, process inputs, and ancillary manufacturing services.

Asiakkaat

ASE Technology serves semiconductor designers and integrated device companies that outsource assembly, test, and advanced packaging. Its EMS business also sells to electronics customers needing manufacturing, integration, and related production support. The company’s customer base is concentrated, with top customers contributing a large share of revenue, which reflects the importance of high-volume, long-term manufacturing relationships.

Fabless semiconductor companies

Buy assembly, test, and packaging capacity for outsourced chip production.

Integrated device manufacturers

Use the group for back-end manufacturing, testing, and packaging support.

Advanced packaging customers

Need bumping, flip chip, WLP, and SiP solutions for complex devices.

Electronics OEMs and system brands

Source EMS and product manufacturing services through USI.

Industrial and automotive electronics customers

Buy packaged, tested, and assembled components for reliability-focused applications.

Strategia

ASE Technology focuses on maintaining breadth across assembly, testing, advanced packaging, and EMS so it can serve customers across multiple chip and electronics categories. The company emphasizes technology development, capacity, and global reach because customers source back-end semiconductor services where scale, process capability, and supply continuity matter. Its strategy also relies on serving a diversified set of end markets, from communications and computing to automotive and industrial applications.

Expand advanced packaging capabilitiesKeskipitkä aikaväli

Advanced nodes and heterogeneous integration require more sophisticated back-end services.

Scale testing and assembly capacityLyhyt aikaväli

Customers need dependable outsourced capacity for high-volume chip output.

Broaden end-market exposureKeskipitkä aikaväli

Serving communications, computing, automotive, and industrial demand diversifies revenue.

Maintain global manufacturing footprintPitkä aikaväli

Proximity to customer supply chains improves service and logistics resilience.

Maantiede

ASE Technology operates a broad manufacturing and customer footprint across Taiwan and multiple overseas markets, including China, South Korea, Japan, Southeast Asia, Mexico, Tunisia, the United States, and Europe. The business is globally distributed because semiconductor assembly, test, and EMS customers often require production close to supply chains, end markets, or electronics manufacturing hubs. Its geographic spread also exposes the company to cross-border logistics, trade policy, and foreign-exchange effects.

Riskit

ASE Technology is exposed to cyclical semiconductor demand, high customer concentration, and intense competition in outsourced assembly and test. Its multinational footprint also creates exposure to trade restrictions, geopolitical tension across the Taiwan Strait, and foreign-exchange volatility, while advanced packaging investment raises execution and technology-obsolescence risk.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Customer concentration1Semiconductor demand cyclicality2Geopolitical and trade exposure3Technology and execution risk4Foreign exchange volatility5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Customer concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    Top customers contributed a large share of net revenues, so loss or slowdown of key accounts would impact volumes.

    Kohdistuu: Top 10 customers contributed 71% of 1Q26 net revenues and 69% of 2Q26 net revenues

  2. Semiconductor demand cyclicalityVaikutus: KorkeaTodennäköisyys: Korkea

    Assembly, test, and EMS volumes depend on end-market chip demand and inventory cycles.

    Kohdistuu: Communication and computing end markets

  3. Geopolitical and trade exposureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company operates across Taiwan, China, the U.S., and other jurisdictions that can be affected by policy shifts.

    KohdistuuTaiwan StraitChinaUnited States
  4. Technology and execution riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Advanced packaging requires continuous process upgrades and successful scaling of new capabilities.

    KohdistuuBumpingFlip chipWLPSiP
  5. Foreign exchange volatilityVaikutus: KeskitasoTodennäköisyys: Korkea

    A globally dispersed business with NT$ reporting is exposed to currency translation and transaction impacts.

    KohdistuuNT$US$Regional currencies

Kirjanpito

Harkinnanvaraiset erät
Foreign currency translation

The group reports in NT$ and translates financial statements into US$ for convenience, creating exchange-rate-driven volatility in comparability.

Vaikutus: Reported figures can move with currency rates rather than underlying business performance.

Goodwill impairment

Goodwill is tested annually or when impairment indicators arise, and losses are recognized in profit or loss.

Vaikutus: Can materially reduce earnings if acquired units underperform.

Intangible asset amortization

Finite-life intangibles are amortized based on estimated useful lives and reviewed periodically.

Vaikutus: Useful-life changes affect expense recognition over time.

Seasonality and mix

Application mix across communications, computing, consumer, automotive, and industrial end markets can change quarterly.

Vaikutus: Quarterly revenue and margin comparability can be affected by demand shifts.

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Päivitetty: 28.9.2026