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World's largest provider of semiconductor assembly, packaging and testing (OSAT) services.
World's largest provider of semiconductor assembly, packaging and testing (OSAT) services.
Is paid a service fee for each chip it packages and tests, since customers design chips and foundries make them, so it never owns the chips. Advanced packaging for AI processors, a more complex and better-paid service, is the growth line. It merged with rival Siliconware in 2018 to form this holding company and also assembles electronics modules.
In one line: Taiwan's Amkor, but larger — the world's biggest OSAT.
Moat: narrow (scale, process know-how, customer qualification). Largest global OSAT scale and advanced-packaging know-how (needed for AI chip stacking) create switching costs.
Headquarters: Kaohsiung, Taiwan · Founded: 1984
Size Ase Technology (3711.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $70.4B, the 5th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$527.00 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against -20.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 24.9% over the last twelve months (peer median +22.4%); the operating margin is 11.5% (peer median 21.6%).
Valuation It trades at 17.3× forward earnings against a peer median of 23.6× (10th cheapest of 21).
Capital Return on invested capital runs 0.9 points below its cost of capital (10.3% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$787B | NT$645B | NT$595B | NT$582B | NT$671B |
| Revenue growth | — | +8% | +2% | -13% | — |
| Gross profit | NT$159B | NT$108B | NT$91.6B | NT$86.9B | NT$131B |
| EBITDA | NT$168B | NT$118B | NT$99.0B | NT$98.4B | NT$136B |
| Net income | NT$76.9B | NT$40.7B | NT$32.5B | NT$31.7B | NT$62.1B |
| Free cash flow | -NT$86.9B | -NT$30.5B | NT$2.90B | NT$51.8B | NT$30.6B |
| Capital expenditure | NT$288B | NT$166B | NT$82.2B | NT$54.9B | NT$74.0B |
| Total debt | NT$394B | NT$264B | NT$201B | NT$179B | NT$190B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | n/a |
| Amkor Technology AMKR | $8.13B | -57% | +16% | 10% | 12.1× | n/a |
| JCET 600584.SS | $14.1B | +15% | +4% | 6% | 40.2× | n/a |
| Powertech Technology 6239.TW | $4.61B | -11% | +24% | 13% | 13.2× | n/a |
| King Yuan Electronics 2449.TW | $8.00B | -42% | +35% | 27% | 19.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3711.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.0% | -22.5% | 9th lowest of 21 |
| 6-month return | +2.3% | -20.6% | 6th highest of 21 |
| Distance from 52-week high | -31.1% | -49.4% | 5th highest of 21 |
| Revenue growth (TTM) | +24.9% | +22.4% | 10th highest of 21 |
| Operating margin | 11.5% | 21.6% | 3rd lowest of 20 |
| Forward P/E | 17.3× | 23.6× | 10th cheapest of 21 |
| ROIC minus cost of capital | -0.9 pp | +2.5 pp | 9th lowest of 20 |
| EV / EBITDA | 15.7× | 16.8× | 7th cheapest of 15 |
| Net debt / EBITDA | 1.7× | 0.6× | 2nd most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ase Technology 3711.TW | Taiwan | $70.4B | +2% | +25% | 11% | 17.3× | n/a | n/a |
| Infineon Technologies IFX.DE | Germany | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% | +11.3% |
| Cambricon Technologies 688256.SS | China | $75.7B | -30% | +104% | 33% | 87.3× | n/a | n/a |
| SMIC 0981.HK | Hong Kong | $76.7B | -41% | +20% | 9% | 32.9× | n/a | n/a |
| NXP Semiconductors NXPI | United States | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% | +7.3% |
| Zhongji Innolight 300308.SZ | China | $79.4B | -48% | +162% | 41% | 15.4× | 23.2% | +40.3% |
| TE Connectivity TEL | United States | $59.5B | +1% | +15% | 22% | 15.1× | 8.2% | +5.9% |
| Monolithic Power Systems MPWR | United States | $58.1B | -26% | +40% | 30% | 28.3× | 39.6% | +27.0% |
| Kioxia 285A.T | Japan | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% | +18.8% |
| SamsungElecMech 009150.KS | South Korea | $47.2B | +5% | +22% | 12% | 38.7× | 42.8% | +7.9% |
| Marvell Technology MRVL | United States | $124B | -17% | +31% | 17% | 25.0× | 54.4% | +22.5% |
| Coherent COHR | United States | $38.0B | -42% | +23% | 14% | 16.6× | n/a | n/a |
| STMicroelectronics STMPA.PA | France | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% | +3.1% |
| Nanya Technology 2408.TW | Taiwan | $35.8B | +34% | +586% | 71% | 2.9× | 0.6% | +1.8% |
| United Micro Electronics 2303.TW | Taiwan | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% | +6.1% |
| Astera Labs ALAB | United States | $33.1B | -5% | +115% | 26% | 28.0× | n/a | n/a |
| Microchip Technology MCHP | United States | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% | -2.8% |
| Mediatek 2454.TW | Taiwan | $164B | +7% | +6% | 15% | 24.7× | 40.7% | +13.1% |
| MetaX Integrated Circuits (Shanghai) 688802.SS | China | $29.5B | -35% | +84% | n/a | 469.5× | n/a | n/a |
| Analog Devices ADI | United States | $176B | -13% | +34% | 36% | 22.4× | 27.8% | +14.5% |
| Qualcomm QCOM | United States | $177B | -24% | +2% | 24% | 17.0× | 15.9% | +5.1% |