Press Release

ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Fourth Quarter and the Full Year of 2025

TAIPEI, Feb. 5, 2026 /PRNewswire/ —ย  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 unaudited[1 ]net revenues of NT$177,915ย million for 4Q25, up by 9.6% year-over-year and up by 5.5% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$14,713 million, up from NT$9,312 million in 4Q24 and up from NT$10,870 million in 3Q25.ย  Basic earnings per share for the quarter were NT$3.37 (or US$0.219 per ADS), compared to NT$2.15 for 4Q24 and NT$2.50 for 3Q25.ย  Diluted earnings per share for the quarter were NT$3.24 (or US$0.210 per ADS), compared to NT$2.07 for 4Q24 and NT$2.41 for 3Q25.

For the full year of 2025, the Company reported unaudited net revenues of NT$645,388 million and net income attributable to shareholders of the parent of NT$40,658 million.ย  Basic earnings per share for the full year of 2025 were NT$9.37 (or US$0.601 per ADS).ย  Diluted earnings per share for the full year of 2025 were NT$8.89 (or US$0.571 per ADS).

RESULTS OF OPERATIONS

4Q25 Results Highlights โ€“ Consolidated

  • Net revenues from packaging operations, testing operations, EMS operations, and others represented approximately 49%, 12%, 38%, and 1% of the total net revenues for the quarter, respectively.
  • Cost of revenues wasย NT$143,179 million for the quarter, up from NT$139,692 million in 3Q25.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$85,490 million for the quarter, representing 48% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$19,611 million for the quarter, representing 11% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$16,525 million for the quarter.
  • Gross margin increased by 2.4 percentage points to 19.5% in 4Q25 from 17.1% in 3Q25.
  • Operating margin was 9.9% in 4Q25, compared to 7.8% in 3Q25.
  • Non-operating items:
    • –ย ย ย ย ย ย ย ย ย ย ย  Net interest expense was NT$1,712 million.
    • –ย ย ย ย ย ย ย ย ย ย ย  Net gain on foreign exchange hedging activities of NT$1,384 million.
    • –ย ย ย ย ย ย ย ย ย ย ย  Net gain on equity-method investments was NT$257 million.
    • –ย ย ย ย ย ย ย ย ย ย ย  Other net non-operating income was NT$641 million, primarily attributable to miscellaneous income.

Total non-operating income for the quarter was NT$570 million.

  • Income before tax wasย NT$18,260 million in 4Q25, compared to NT$13,976 million in 3Q25. We recorded income tax expenses of NT$3,248 million for the quarter, compared to NT$2,615 million in 3Q25.
  • Net income attributable to shareholders of the parent wasย NT$14,713ย million in 4Q25, compared to NT$9,312 million in 4Q24 and NT$10,870 million in 3Q25.ย 
  • Our total number of shares outstanding at the end of the quarter was 4,447,029,782, including treasury stock owned by our subsidiaries in 4Q25. Our 4Q25 basic earnings per share ofย NT$3.37 (or US$0.219 per ADS) were based on 4,360,886,216 weighted average number of shares outstanding in 4Q25. ย Our 4Q25 diluted earnings per share of NT$3.24 (or US$0.210 per ADS) were based on 4,462,335,188 weighted average number of shares outstanding in 4Q25.

4Q25 Results Highlights โ€“ ATM

  • Net revenues wereย NT$109,707 million for the quarter, up by 24.2% year-over-year and up by 9.4% sequentially.
  • Cost of revenues wasย NT$80,883 million for the quarter, up by 19.4% year-over-year and up by 4.2% sequentially.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$31,146 million for the quarter, representing 28% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$16,050 million for the quarter, representing 15% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$15,075 million for the quarter.
  • Gross margin increased by 3.7 percentage points to 26.3% in 4Q25 from 22.6% in 3Q25.
  • Operating margin was 14.7% in 4Q25, compared to 10.8% in 3Q25.

4Q25 Results Highlights โ€“ EMS

  • Net revenues wereย NT$68,991 million, down by 7.9% year-over-year and relatively stable sequentially.
  • Cost of revenues for the quarter wasย NT$62,752 million, down by 8.7% year-over-year and up by 0.2% sequentially.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$54,638 million for the quarter, representing 79% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$3,390 million for the quarter, representing 5% of the total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$1,184 million for the quarter.
  • Gross margin decreased by 0.2 percentage points to 9.0% in 4Q25 from 9.2% in 3Q25.
  • Operating margin was 2.8% in 4Q25, compared to 3.7% in 3Q25.

2025 Full-Year Results Highlights โ€“ Consolidated

  • Net revenues for the full year of 2025 amounted toย NT$645,388 million, up by 8.4% from the full year of 2024. Net revenues from packaging operations, testing operations, EMS operations and others represented approximately 48%, 11%, 40% and 1% of total net revenues for the year, respectively.
  • Cost of revenue for the year of 2025 wasย NT$531,195 million, compared to NT$498,478 million in 2024.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$312,261 million for the year, representing 48% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$73,128 million for the year, representing 11% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$62,030 million for the year.
  • Gross margin increased by 1.4 percentage points to 17.7% in 2025 from 16.3% in 2024.
  • Operating margin increased to 7.9% in 2025 from 6.6% in 2024.
  • Total non-operating income for the year was NT$545 million, compared to NT$2,517 million in 2024.
  • Income before tax wasย NT$51,301 million in 2025.ย  We recognized an income tax expense of NT$9,461 million for the year.ย 
  • Net income attributable to shareholders of the parent amounted toย NT$40,658 million in 2025, compared to NT$32,483 million in 2024.
  • Our 2025 basic earnings per share ofย NT$9.37 (or US$0.601 per ADS) were based on 4,341,193,479 weighted average numbers of shares outstanding in 2025.ย  Our 2025 diluted earnings per share of NT$8.89 (or US$0.571 per ADS) were based on 4,429,553,334 weighted average number of shares outstanding in 2025.

2025 Full-Year Results Highlights โ€“ ATM

  • Cost of revenues for the full year of 2025 wasย NT$297,848 million, compared to NT$252,712 million in 2024.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$109,776 million for the year, representing 28% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$59,876 million for the year, representing 15% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$56,435 million for the year.
  • Gross margin increased to 23.5% in 2025 from 22.5% in 2024.
  • Operating margin increased to 11.3% in 2025 from 9.8% in 2024.

2025 Full-Year Results Highlights โ€“ EMS

  • Cost of revenues wasย NT$235,384 million in 2025, down by 5.1% from 2024.
    • –ย ย ย ย ย ย ย ย ย ย ย  Raw material cost totaled NT$203,824 million for the year, representing 79% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Labor cost totaled NT$12,774 million for the year, representing 5% of total net revenues.
    • –ย ย ย ย ย ย ย ย ย ย ย  Depreciation, amortization and rental expenses totaled NT$4,574 million for the year.
  • Gross margin increased to 9.1% in 2025 from 9.0% in 2024.
  • Operating margin was 2.9% in both 2025 and 2024.

LIQUIDITY AND CAPITAL RESOURCES

  • Equipment capital expenditures in 4Q25 totaled US$733 million, of which US$485 million was used in packaging operations, US$218 million in testing operations, US$28 million in EMS operations and US$2 million in interconnect materials operations and others.
  • Equipment capital expenditures in 2025 totaled US$3,396 million, of which US$2,104 million was used in packaging operations, US$1,140 million in testing operations, US$139 million in EMS operations and US$13 million in interconnect materials operations and others.
  • Total unused credit lines amounted toย NT$400,617 million as of December 31, 2025.
  • Current ratio was 1.28 and net debt to equity ratio was 0.46 as of December 31, 2025.
  • Total number of employees was 105,955 as of December 31, 2025, compared to 103,844 as of September 30, 2025.

BUSINESS REVIEW

Customers
ATM BASIS

  • Our five largest customers together accounted for approximately 41% of our total net revenues in both 4Q25 and 3Q25. Two customers each accounted for more than 10% of our total net revenues in 4Q25 individually.
  • Our top 10 customers contributed 58% of our total net revenues in both 4Q25 and 3Q25.
  • Our customers that are integrated device manufacturers orย IDMs accounted forย 35% of our total net revenues in both 4Q25 and 3Q25.ย 

EMS BASIS

  • Our five largest customers together accounted for approximately 70% of our total net revenues in 4Q25, compared to 71% in 3Q25. One customer accounted for more than 10% of our total net revenues in 4Q25.
  • Our top 10 customers contributed 76% of our total net revenues in 4Q25, compared to 77% in 3Q25.

1ย 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.).ย  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.ย  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.ย  In addition, the financial information presented is not necessarily indicative of our results of operations for any future period.

2ย EBITDA stands for net income or loss before interest, taxes, depreciation, amortization, impairment and investment gain or loss as well as other items.

3ย Borrowings include bank loans and bills payable.

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.ย With advanced technological capabilities and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia, 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.ย 
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.ย  These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.ย  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.ย  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.ย  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; 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. The announced results of the full year of 2025 are preliminary and subject to audit adjustments. 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 2024 Annual Report on Form 20-F filed on March 27, 2025.

Supplemental Financial Information
(Unaudited)

Consolidated Operations

4Q25

3Q25

4Q24

EBITDA[2] (NT$ million)

38,344

32,613

28,797

ATM Operations

4Q25

3Q25

4Q24

Net Revenues (NT$ million)

109,707

100,289

88,363

Revenues by Application

Communication

45ย %

45ย %

53ย %

Computing

25ย %

25ย %

17ย %

Automotive, Consumer & Others

30ย %

30ย %

30ย %

Revenues by Type

Bumping, Flip Chip, WLP & SiP

49ย %

48ย %

47ย %

Wirebonding

24ย %

26ย %

27ย %

Others

7ย %

6ย %

7ย %

Testing

19ย %

18ย %

18ย %

Material

1ย %

2ย %

1ย %

Capacity & EBITDA

Equipment CapEx (US$ million)

704

736

616

EBITDA2 (NT$ million)

34,451

27,969

24,845

Number of Wirebonders

25,001

25,120

25,328

Number of Testers

7,359

7,066

6,300

EMS Operations

4Q25

3Q25

4Q24

Net Revenues (NT$ million)

68,991

69,022

74,895

Revenues by Application

Communication

30ย %

30ย %

37ย %

Computing

11ย %

9ย %

9ย %

Consumer

36ย %

40ย %

33ย %

Industrial

13ย %

12ย %

11ย %

Automotive

8ย %

7ย %

8ย %

Others

2ย %

2ย %

2ย %

Capacityย 

Equipment CapEx (US$ million)

28

40

24

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
(Inย NT$ million, except per share data)
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2025

Sep. 30

2025

Dec. 31

2024

Dec. 31

2025

Dec. 31

2024

Net revenues

Packaging

86,465

79,806

70,285

308,343

261,732

Testing

20,863

18,420

15,713

71,900

54,562

EMS

68,555

68,405

74,243

257,193

271,293

Others

2,032

1,938

2,023

7,952

7,823

Total net revenues

177,915

168,569

162,264

645,388

595,410

Cost of revenues

(143,179)

(139,692)

(135,633)

(531,195)

(498,478)

Gross profit

34,736

28,877

26,631

114,193

96,932

Operating expenses

Research and development

(8,960)

(8,308)

(7,676)

(32,852)

(28,830)

Selling, general and administrative

(8,086)

(7,368)

(7,744)

(30,585)

(28,935)

Total operating expenses

(17,046)

(15,676)

(15,420)

(63,437)

(57,765)

Operating income

17,690

13,201

11,211

50,756

39,167

Net non-operating income and expenses

Interest expense – net

(1,712)

(1,428)

(1,308)

(5,599)

(4,864)

Foreign exchange gain (loss) – net

(2,992)

(3,790)

(2,787)

3,428

(5,539)

Gain on valuation of financial assets and liabilities – net

4,376

5,191

4,017

341

9,833

Gain (Loss) on equity-method investments – net

257

294

(133)

814

868

Others – net

641

508

441

1,561

2,219

Total non-operating income and expenses

570

775

230

545

2,517

Income before tax

18,260

13,976

11,441

51,301

41,684

Income tax expense

(3,248)

(2,615)

(1,862)

(9,461)

(7,758)

Income from operations and before non-controlling interests

15,012

11,361

9,579

41,840

33,926

Non-controlling interests

(299)

(491)

(267)

(1,182)

(1,443)

Net income attributable to shareholders of the parent

ย 

14,713

ย 

10,870

ย 

9,312

ย 

40,658

ย 

32,483

Per share data:

Earnings per share

โ€“ Basic

NT$3.37

NT$2.50

NT$2.15

NT$9.37

NT$7.52

โ€“ Diluted

NT$3.24

NT$2.41

NT$2.07

NT$8.89

NT$7.23

Earnings per equivalent ADS

โ€“ Basic

US$0.219

US$0.168

US$0.134

US$0.601

US$0.470

โ€“ Diluted

US$0.210

US$0.162

US$0.129

US$0.571

US$0.452

Number of weighted average shares used in diluted EPS calculation (in thousand shares)

4,462,335

4,419,121

4,399,409

4,429,553

4,392,013

FX (NTD/USD)

30.88

29.74

32.16

31.15

32.00

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data

(In NT$ million)ย 
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2025

Sep. 30

2025

Dec. 31

2024

Dec. 31

2025

Dec. 31

2024

Net revenues:

Packaging

87,397

80,602

71,342

311,799

265,858

Testing

20,863

18,420

15,713

71,900

54,562

Direct material

1,352

1,190

1,233

5,191

5,130

Others

95

77

75

338

325

Total net revenues

109,707

100,289

88,363

389,228

325,875

Cost of revenues

(80,883)

(77,592)

(67,754)

(297,848)

(252,712)

Gross profit

28,824

22,697

20,609

91,380

73,163

Operating expenses:

Research and development

(7,182)

(6,695)

(6,047)

(26,240)

(22,438)

Selling, general and administrative

(5,561)

(5,140)

(5,127)

(21,045)

(18,739)

Total operating expenses

(12,743)

(11,835)

(11,174)

(47,285)

(41,177)

Operating income

16,081

10,862

9,435

44,095

31,986

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
ย (In NT$ million)ย 
(Unaudited)

For the three months ended

For the year ended

Dec. 31

2025

Sep. 30

2025

Dec. 31

2024

Dec. 31

2025

Dec. 31

2024

Net revenues

68,991

69,022

74,895

259,079

272,550

Cost of revenues

(62,752)

(62,643)

(68,713)

(235,384)

(248,135)

Gross profit

6,239

6,379

6,182

23,695

24,415

Operating expenses

Research and development

(1,813)

(1,671)

(1,673)

(6,787)

(6,542)

Selling, general and administrative

(2,467)

(2,167)

(2,523)

(9,286)

(9,883)

Total operating expenses

(4,280)

(3,838)

(4,196)

(16,073)

(16,425)

Operating income

1,959

2,541

1,986

7,622

7,990

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
(In NT$ million)
(Unaudited)

ย 

As of Dec. 31, 2025

ย 

As of Sep. 30, 2025

Current assets

Cash and cash equivalents

92,469

75,142

Financial assets โ€“ current

9,514

8,270

Trade receivables

125,042

125,663

Inventories

69,383

66,182

Others

17,387

18,823

Total current assets

313,795

294,080

Financial assets – non-current & investments – equity -method

45,677

41,678

Property, plant and equipment

421,115

397,195

Right-of-use assets

12,636

12,725

Intangible assets

64,807

65,439

Others

31,303

31,527

Total assets

889,333

842,644

Current liabilities

Short-term borrowings[3]

43,328

59,976

Long-term debts – current portion

6,688

7,837

Trade payables

88,754

90,442

Others

105,579

101,298

Total current liabilities

244,349

259,553

Bonds payable

11,468

17,370

Long-term borrowings[3]

202,613

201,577

Other liabilities

57,536

24,591

Total liabilities

515,966

503,091

Equity attributable to shareholders of the parent

346,900

317,043

Non-controlling interests

26,467

22,510

Total liabilities & shareholders’ equity

889,333

842,644

Current ratio

1.28

1.13

Net debt to equity ratio

0.46

0.63

ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income Data
(In NT$ million)
(Unaudited)

ย 

ย ย ย ย ย ย ย  For the three months ended

ย 

For the year ended

Dec. 31

2025

Sep. 30

2025

Dec. 31

2024

Dec. 31

2025

Dec. 31

2024

Cash Flows from Operating Activities

Income before tax

18,260

13,976

11,441

51,301

41,684

Depreciation & amortization

17,825

16,992

15,360

67,440

59,815

Other operating activities items

34,720

(16,342)

8,444

23,508

(10,711)

Net cash generated from operating activities

70,805

14,626

35,245

142,249

90,788

Cash Flows from Investing Activities

Net payments for property, plant

and equipment

(37,776)

(44,920)

(31,546)

(162,149)

(78,614)

Other investment activities items

(818)

(996)

(11)

(3,495)

(5,295)

Net cash used in investing activities

(38,594)

(45,916)

(31,557)

(165,644)

(83,909)

Cash Flows from Financing Activities

Total net proceeds from (repayment of) borrowings and bonds

(20,783)

49,518

(1,952)

67,043

16,487

Dividends paid

(23,034)

(23,034)

(22,460)

Other financing activities items

426

1,234

(121)

1,260

(1,298)

Net cash generated from (used in) financing activities

(20,357)

27,718

(2,073)

45,269

(7,271)

Foreign currency exchange effect

5,473

5,929

3,167

(5,898)

9,601

Net increase in cash and cash equivalents

17,327

2,357

4,782

15,976

9,209

Cash and cash equivalents at the beginning of period

75,142

72,785

71,711

76,493

67,284

Cash and cash equivalents at the end of period

92,469

75,142

76,493

92,469

76,493

Investor Relations Contact

ย ย ย ย ย ย ย  [email protected]ย 

ย ย ย ย ย ย ย  Tel: +886.2.6636.5678

ย ย ย ย ย ย ย  https://www.aseglobal.com

Cision View original content:https://www.prnewswire.com/news-releases/ase-technology-holding-co-ltd-reports-its-unaudited-consolidated-financial-results-for-the-fourth-quarter-and-the-full-year-of-2025-302679779.html

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