--- title: "ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Fourth Quarter and the Full Year of 2025 | ASX Stock News" type: "News" locale: "en" url: "https://longbridge.com/en/news/274926471.md" description: "ASE Technology Holding Co., Ltd. reported its unaudited financial results for Q4 and the full year of 2025. Q4 net revenues reached NT$177,915 million, a 9.6% increase year-over-year, with net income of NT$14,713 million. For the full year, revenues totaled NT$645,388 million, up 8.4% from 2024, with net income of NT$40,658 million. Basic earnings per share for Q4 were NT$3.37, and NT$9.37 for the full year. The company saw growth in packaging and testing operations, while EMS revenues declined slightly." datetime: "2026-02-04T22:45:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/274926471.md) - [en](https://longbridge.com/en/news/274926471.md) - [zh-HK](https://longbridge.com/zh-HK/news/274926471.md) --- # ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Fourth Quarter and the Full Year of 2025 | ASX Stock News , /PRNewswire/ -- 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$177,915 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. 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. 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. Basic earnings per share for the full year of 2025 were NT$9.37 (or US$0.601 per ADS). 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 – 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 was NT$143,179 million for the quarter, up from NT$139,692 million in 3Q25. - \- Raw material cost totaled NT$85,490 million for the quarter, representing 48% of the total net revenues. - \- Labor cost totaled NT$19,611 million for the quarter, representing 11% of the total net revenues. - \- 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: - \- Net interest expense was NT$1,712 million. - \- Net gain on foreign exchange hedging activities of NT$1,384 million. - \- Net gain on equity-method investments was NT$257 million. - \- 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 was 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 was NT$14,713 million in 4Q25, compared to NT$9,312 million in 4Q24 and NT$10,870 million in 3Q25. - 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 of NT$3.37 (or US$0.219 per ADS) were based on 4,360,886,216 weighted average number of shares outstanding in 4Q25. 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 – ATM** - Net revenues were NT$109,707 million for the quarter, up by 24.2% year-over-year and up by 9.4% sequentially. - Cost of revenues was NT$80,883 million for the quarter, up by 19.4% year-over-year and up by 4.2% sequentially. - \- Raw material cost totaled NT$31,146 million for the quarter, representing 28% of the total net revenues. - \- Labor cost totaled NT$16,050 million for the quarter, representing 15% of the total net revenues. - \- 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 – EMS** - Net revenues were NT$68,991 million, down by 7.9% year-over-year and relatively stable sequentially. - Cost of revenues for the quarter was NT$62,752 million, down by 8.7% year-over-year and up by 0.2% sequentially. - \- Raw material cost totaled NT$54,638 million for the quarter, representing 79% of the total net revenues. - \- Labor cost totaled NT$3,390 million for the quarter, representing 5% of the total net revenues. - \- 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 – Consolidated** - Net revenues for the full year of 2025 amounted to 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 was NT$531,195 million, compared to NT$498,478 million in 2024. - \- Raw material cost totaled NT$312,261 million for the year, representing 48% of total net revenues. - \- Labor cost totaled NT$73,128 million for the year, representing 11% of total net revenues. - \- 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 was NT$51,301 million in 2025. We recognized an income tax expense of NT$9,461 million for the year. - Net income attributable to shareholders of the parent amounted to NT$40,658 million in 2025, compared to NT$32,483 million in 2024. - Our 2025 basic earnings per share of NT$9.37 (or US$0.601 per ADS) were based on 4,341,193,479 weighted average numbers of shares outstanding in 2025. 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 – ATM** - Cost of revenues for the full year of 2025 was NT$297,848 million, compared to NT$252,712 million in 2024. - \- Raw material cost totaled NT$109,776 million for the year, representing 28% of total net revenues. - \- Labor cost totaled NT$59,876 million for the year, representing 15% of total net revenues. - \- 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 – EMS** - Cost of revenues was NT$235,384 million in 2025, down by 5.1% from 2024. - \- Raw material cost totaled NT$203,824 million for the year, representing 79% of total net revenues. - \- Labor cost totaled NT$12,774 million for the year, representing 5% of total net revenues. - \- 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 to 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 or IDMs accounted for 35% of our total net revenues in both 4Q25 and 3Q25. **_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. * * * 1 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.). 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. 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. In addition, the financial information presented is not necessarily indicative of our results of operations for any future period. 2 EBITDA stands for net income or loss before interest, taxes, depreciation, amortization, impairment and investment gain or loss as well as other items. 3 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. 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. __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. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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. 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. 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 45 % 45 % 53 % Computing 25 % 25 % 17 % Automotive, Consumer & Others 30 % 30 % 30 % Revenues by Type Bumping, Flip Chip, WLP & SiP 49 % 48 % 47 % Wirebonding 24 % 26 % 27 % Others 7 % 6 % 7 % Testing 19 % 18 % 18 % Material 1 % 2 % 1 % 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 30 % 30 % 37 % Computing 11 % 9 % 9 % Consumer 36 % 40 % 33 % Industrial 13 % 12 % 11 % Automotive 8 % 7 % 8 % Others 2 % 2 % 2 % Capacity Equipment CapEx (US$ million) 28 40 24 **ASE Technology Holding Co., Ltd. Summary of Consolidated Statement of Income Data ****(In 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 14,713 10,870 9,312 40,658 32,483 Per share data: Earnings per share – Basic NT$3.37 NT$2.50 NT$2.15 NT$9.37 NT$7.52 – Diluted NT$3.24 NT$2.41 NT$2.07 NT$8.89 NT$7.23 Earnings per equivalent ADS – Basic US$0.219 US$0.168 US$0.134 US$0.601 US$0.470 – 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) ****(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 ****(In NT$ million) ****(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)** As of Dec. 31, 2025 As of Sep. 30, 2025 Current assets Cash and cash equivalents 92,469 75,142 Financial assets – 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)** For the three months ended 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** ir@aseglobal.com Tel: +886.2.6636.5678 https://www.aseglobal.com SOURCE ASE Technology Holding Co., Ltd. ### Related Stocks - [ASX.US](https://longbridge.com/en/quote/ASX.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) ## Related News & Research - [Insider Selling: Jeffrey Chen Unloads $14.66M Of ASE Technology Holding Co Stock](https://longbridge.com/en/news/286791506.md) - [Here's why Astera Labs' stock just staged a big gain](https://longbridge.com/en/news/286969770.md) - [Here's How Much $100 Invested In Teradyne 20 Years Ago Would Be Worth Today](https://longbridge.com/en/news/286466208.md) - [Where Cerebras' monster debut puts in among tech's biggest IPOs](https://longbridge.com/en/news/286465752.md) - [Tower Semiconductor Analysts Boost Their Forecasts Following Better-Than-Expected Q1 Earnings](https://longbridge.com/en/news/286435168.md)