ASE Technology Holding Co., Ltd. key statistics and ratios

In fiscal 2025, ASE Technology Holding Co., Ltd. had return on equity of 12.4%, an operating margin of 8.0%, debt equal to 73.8% of equity and a current ratio of 1.26. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

ASE Technology Holding Co., Ltd.: financial ratios, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	17.7%	19.3%	18.2%	16.5%	15.6%	16.3%	19.4%	20.1%	15.8%	16.3%	17.7%
Operating margin	8.7%	9.4%	8.7%	7.3%	5.6%	7.4%	11.1%	12.1%	7.2%	6.8%	8.0%
Net margin	7.0%	7.8%	7.9%	7.1%	4.1%	5.7%	10.6%	9.2%	6.1%	5.4%	6.2%
Free-cash-flow margin	9.6%	9.2%	7.8%	2.6%	3.7%	2.7%	1.9%	5.7%	10.4%	1.9%	−3.5%
Return on equity	12.3%	13.5%	13.5%	13.5%	8.3%	12.8%	25.6%	22.1%	11.9%	10.4%	12.4%
Return on assets	5.6%	6.0%	6.4%	5.9%	3.1%	4.6%	9.6%	8.7%	5.1%	4.5%	5.0%
Asset turnover	0.80	0.77	0.82	0.83	0.74	0.82	0.91	0.95	0.83	0.84	0.81
Current ratio	—	1.33	1.34	1.27	1.31	1.28	1.35	1.31	1.16	1.17	1.26
Debt to equity	0.0%	71.7%	40.7%	98.4%	107.8%	88.9%	82.1%	61.9%	57.1%	60.5%	73.8%
Interest cover (operating income ÷ interest)	10.9x	11.7x	14.3x	7.6x	5.6x	10.3x	22.6x	20.4x	6.7x	6.0x	6.9x
Effective tax rate	17.2%	19.3%	21.0%	14.1%	21.5%	19.9%	22.4%	21.0%	12.4%	19.0%	19.7%
R&D as % of revenue	3.9%	4.1%	4.0%	4.0%	4.5%	4.0%	3.7%	3.6%	4.4%	4.8%	5.1%
Capital spending as % of revenue	10.7%	9.7%	8.5%	11.2%	13.7%	13.0%	12.4%	10.8%	9.3%	13.4%	25.5%
Free cash flow ÷ net income	138.2%	119.1%	99.6%	36.9%	90.8%	48.1%	18.0%	62.4%	170.0%	34.8%	−56.0%
Dividends and buybacks ÷ free cash flow	19.6%	—	—	0.7%	—	—	51.1%	0.5%	0.0%	0.0%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · December 31, 2025

What it owns · $28.4bn

Short-term assets $10.0bnLonger-term assets $18.4bn

What it owes, and who funded it · $27.5bn

Short-term liabilities $7.9bnLonger-term liabilities $8.7bnShareholders' equity $10.9bn

Short-term assets cover short-term liabilities $10.0bn of assets due within a year against $7.9bn of liabilities due within a year.
Short-term assets cover long-term liabilities $10.0bn short-term assets against $8.7bn of longer-dated liabilities.
More cash than debt $2.9bn of cash against $8.1bn of debt.
Debt below 40% of shareholders' equity Debt is 74% of equity.
Debt burden no higher than five years ago Debt to equity moved from 70% to 74% over five years.
A year's operating cash flow covers at least 20% of debt $4.6bn of operating cash flow against $8.1bn of debt.
Operating profit covers interest at least five times over Operating income of $1.7bn against $240m of interest.

From ASE Technology Holding Co., Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from ASE Technology Holding Co., Ltd.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to ASE Technology Holding Co., Ltd.