Financials ASE Technology Holding Co., Ltd.

Equities

3711

TW0003711008

Semiconductor Equipment & Testing

End-of-day quote Taiwan S.E. Other stock markets 2025-03-17			5-day change	1st Jan Change
157.50 ^TWD	+1.61%		-2.17%	-2.78%

Mar. 17	ASE Technology Unit Signs Facility Engineering Contracts Worth NT$3.43 Billion	MT
Mar. 12	Asian Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading	MT

Projected Income Statement: ASE Technology Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	476,978	569,997	670,945	581,914	595,410	665,612	751,886	859,595
Change	-	19.5%	17.71%	-13.27%	2.32%	11.79%	12.96%	14.33%
EBITDA ¹	86,136	116,649	135,628	98,430	68,982	125,791	149,216	168,258
Change	-	35.42%	16.27%	-27.43%	-29.92%	82.35%	18.62%	12.76%
EBIT ¹	34,877	62,125	80,176	40,328	39,167	59,222	77,516	87,014
Change	-	78.13%	29.06%	-49.7%	-2.88%	51.2%	30.89%	12.25%
Interest Paid ¹	-2,916	-2,257	-3,334	-4,726	-4,864	-6,345	-6,732	-
Earnings before Tax (EBT) ¹	35,734	80,336	81,626	42,600	41,684	56,888	72,539	-
Change	-	124.82%	1.61%	-47.81%	-2.15%	36.47%	27.51%	-100%
Net income ¹	27,593	63,908	62,090	31,725	32,483	46,077	58,733	-
Change	-	131.61%	-2.84%	-48.9%	2.39%	41.85%	27.47%	-100%
Announcement Date	2/4/21	2/10/22	2/9/23	2/1/24	2/13/25	-	-	-

¹TWD in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	97,357	107,549	123,195	148,877	119,470	126,926	150,665	172,936	144,391	160,439	188,626	177,490	130,891	136,275	154,167	160,581	132,803	140,238	160,105	162,264	143,622	153,826	178,462	187,965	168,323	179,480	211,079	212,626
Change	-	10.47%	14.55%	20.85%	-19.75%	6.24%	18.7%	14.78%	-16.51%	11.11%	17.57%	-5.9%	-26.25%	4.11%	13.13%	4.16%	-17.3%	5.6%	14.17%	1.35%	-11.49%	7.1%	16.02%	5.32%	-10.45%	6.63%	17.61%	0.73%
EBITDA ¹	18,750	21,212	22,163	24,010	24,112	26,634	32,290	33,685	29,616	34,355	37,630	34,027	22,135	23,900	25,973	26,422	22,111	23,822	26,513	26,591	26,095	30,441	35,775	37,055	40,119	43,476	46,895	46,369
Change	-	13.13%	4.48%	8.33%	0.42%	10.46%	21.24%	4.32%	-12.08%	16%	9.53%	-9.57%	-34.95%	7.97%	8.67%	1.73%	-16.32%	7.74%	11.3%	0.29%	-1.86%	16.65%	17.52%	3.58%	8.27%	8.37%	7.87%	-1.12%
EBIT ¹	6,063	8,427	9,141	11,246	11,066	13,174	18,426	19,615	16,113	20,606	23,683	19,774	7,695	9,412	11,405	11,815	7,525	9,021	11,476	11,211	9,759	12,738	17,027	18,376	15,537	17,883	23,367	22,964
Change	-	38.99%	8.47%	23.03%	-1.6%	19.05%	39.87%	6.45%	-17.85%	27.88%	14.93%	-16.51%	-61.09%	22.31%	21.18%	3.59%	-36.31%	19.88%	27.21%	-2.31%	-12.95%	30.54%	33.66%	7.92%	-15.45%	15.1%	30.67%	-1.72%
Charge d'intérêts ¹	-893	-771	-660	-592	-572	-569	-562	-553	-432	-702	-966	-1,093	-1,076	-1,100	-1,247	-1,302	-1,107	-1,158	-1,291	-1,308	-733	-862	-973	-1,074	-	-	-	-
Earnings before Tax (EBT) ¹	5,237	8,879	9,014	12,604	11,338	13,344	18,474	37,336	16,663	21,136	23,615	20,212	7,870	10,111	12,252	12,367	7,860	10,117	12,260	11,441	9,762	12,426	16,685	18,222	14,281	16,511	22,438	22,378
Change	-	69.54%	1.52%	39.83%	-10.04%	17.69%	38.44%	102.1%	-55.37%	26.84%	11.73%	-14.41%	-61.06%	28.48%	21.17%	0.94%	-36.44%	28.72%	21.18%	-6.68%	-14.68%	27.3%	34.27%	9.21%	-21.63%	15.61%	35.9%	-0.27%
Net income ¹	3,899	6,937	6,712	10,044	8,565	10,338	14,176	30,916	12,907	15,988	17,465	15,730	5,817	7,740	8,776	9,392	5,682	7,783	9,666	9,312	7,617	9,664	13,109	14,303	11,300	12,827	18,036	17,990
Change	-	77.92%	-3.24%	49.64%	-14.73%	20.7%	37.13%	118.09%	-58.25%	23.87%	9.24%	-9.93%	-63.02%	33.06%	13.39%	7.02%	-39.5%	36.98%	24.19%	-3.66%	-18.21%	26.88%	35.65%	9.11%	-20.99%	13.51%	40.61%	-0.25%
Announcement Date	4/29/20	7/31/20	10/30/20	2/4/21	4/28/21	7/29/21	10/28/21	2/10/22	4/28/22	7/28/22	10/27/22	2/9/23	4/27/23	7/27/23	10/26/23	2/1/24	4/25/24	7/25/24	10/31/24	2/13/25	-	-	-	-	-	-	-	-

¹TWD in Million

Estimates

Forecast Balance Sheet: ASE Technology Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	146,810	140,629	197,927	116,228	102,209	132,951	125,711	141,245
Change	-	-4.21%	40.74%	-41.28%	-12.06%	30.08%	-5.45%	12.36%
Announcement Date	2/4/21	2/10/22	2/9/23	2/1/24	2/13/25	-	-	-

¹TWD in Million

Estimates

Cash Flow Forecast: ASE Technology Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	57,628	69,301	71,890	53,683	78,614	103,373	91,493
Change	-	20.26%	3.74%	-25.33%	46.44%	31.49%	-11.49%
Free Cash Flow (FCF) ¹	17,446	12,385	38,361	60,747	12,174	4,781	55,572
Change	-	-29.01%	209.74%	58.36%	-79.96%	-60.73%	1,062.39%
Announcement Date	2/4/21	2/10/22	2/9/23	2/1/24	2/13/25	-	-

¹TWD in Million

Estimates

Forecast Financial Ratios: ASE Technology Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	18.06%	20.46%	20.21%	16.91%	11.59%	18.9%	19.85%	19.57%
EBIT Margin (%)	7.31%	10.9%	11.95%	6.93%	6.58%	8.9%	10.31%	10.12%
EBT Margin (%)	7.49%	14.09%	12.17%	7.32%	7%	8.55%	9.65%	-
Net margin (%)	5.78%	11.21%	9.25%	5.45%	5.46%	6.92%	7.81%	-
FCF margin (%)	3.66%	2.17%	5.72%	10.44%	2.04%	0.72%	7.39%	-
FCF / Net Income (%)	63.23%	19.38%	61.78%	191.48%	37.48%	10.38%	94.62%	-
Profitability
ROA	4.84%	10.18%	8.59%	4.62%	4.62%	6.5%	8.17%	-
ROE	13.15%	26.7%	21.06%	10.71%	10.46%	13.99%	16.91%	17.97%
Financial Health
Leverage (Debt/EBITDA)	1.7x	1.21x	1.46x	1.18x	1.48x	1.06x	0.84x	0.84x
Debt / Free cash flow	8.42x	11.35x	5.16x	1.91x	8.4x	27.81x	2.26x	-
Capital Intensity
CAPEX / Current Assets (%)	12.08%	12.16%	10.71%	9.23%	13.2%	15.53%	12.17%	-
CAPEX / EBITDA (%)	66.9%	59.41%	53.01%	54.54%	113.96%	82.18%	61.32%	-
CAPEX / FCF (%)	330.32%	559.56%	187.4%	88.37%	645.75%	2,162.25%	164.64%	-
Items per share
Cash flow per share ¹	17.51	18.71	25.67	26.32	20.67	23.01	28.73	-
Change	-	6.89%	37.22%	2.51%	-21.46%	11.3%	24.87%	-
Dividend per Share ¹	4.2	7	8.79	5.2	-	6.359	7.911	10.36
Change	-	66.67%	25.57%	-40.84%	-	-	24.42%	30.98%
Book Value Per Share ¹	51.1	59.57	69.69	68.5	73.66	81	91.02	98.59
Change	-	16.58%	16.98%	-1.7%	7.53%	9.96%	12.38%	8.32%
EPS ¹	6.31	14.4	13.94	7.18	7.23	10.75	13.89	-
Change	-	128.21%	-3.19%	-48.49%	0.7%	48.72%	29.18%	-
Nbr of stocks (in thousands)	4,265,590	4,275,474	4,291,278	4,307,258	4,339,123	4,341,990	4,341,990	4,341,990
Announcement Date	2/4/21	2/10/22	2/9/23	2/1/24	2/13/25	-	-	-