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/ --  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.

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

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Consolidated Operations

ATM Operations

EMS Operations

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Investor Relations Contact

        [email protected] 

        Tel: +886.2.6636.5678

        https://www.aseglobal.com

SOURCE ASE Technology Holding Co., Ltd.