Fact based stock research
ASE Technology Holding (TSEC:3711)
TW0003711008
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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.
ASE Technology Holding stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 40 (worse than 60% compared with investment alternatives), ASE Technology Holding (Semiconductors, Taiwan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of ASE Technology Holding are a good value (attractively priced) with a consolidated Value Rank of 75 (better than 75% of alternatives), show above-average growth (Growth Rank of 59) but are riskily financed (Safety Rank of 10), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 40, is a hold recommendation based on ASE Technology Holding's financial characteristics. As the company ASE Technology Holding's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 75) and above-average growth (Obermatt Growth Rank of 59), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 10) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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360° Viewnew| Country | Taiwan |
| Industry | Semiconductors |
| Index | Low Emissions, Energy Efficient, FTSE Taiwan |
| Size class | XX-Large |
19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: ASE Technology Holding
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 100 |
|
97 |
|
97 |
|
75 |
|
| GROWTH | ||||||||
| GROWTH | 55 |
|
29 |
|
49 |
|
59 |
|
| SAFETY | ||||||||
| SAFETY | 27 |
|
7 |
|
5 |
|
10 |
|
| SENTIMENT | ||||||||
| SENTIMENT | n/a |
|
46 |
|
51 |
|
new |
|
| 360° VIEW | ||||||||
| 360° VIEW | n/a |
|
41 |
|
50 |
|
new |
|
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 40 (worse than 60% compared with investment alternatives), ASE Technology Holding (Semiconductors, Taiwan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of ASE Technology Holding are a good value (attractively priced) with a consolidated Value Rank of 75 (better than 75% of alternatives), show above-average growth (Growth Rank of 59) but are riskily financed (Safety Rank of 10), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 40, is a hold recommendation based on ASE Technology Holding's financial characteristics. As the company ASE Technology Holding's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 75) and above-average growth (Obermatt Growth Rank of 59), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 10) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 100 |
|
97 |
|
97 |
|
75 |
|
| GROWTH | ||||||||
| GROWTH | 55 |
|
29 |
|
49 |
|
59 |
|
| SAFETY | ||||||||
| SAFETY | 27 |
|
7 |
|
5 |
|
10 |
|
| COMBINED | ||||||||
| COMBINED | 68 |
|
41 |
|
53 |
|
40 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 75 (better than 75% compared with alternatives) for 2024, ASE Technology Holding shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for ASE Technology Holding. Price-to-Sales (P/S) is 77, which means that the stock price compared with what market professionals expect for future sales is lower than for 77% of comparable companies, indicating a good value concerning ASE Technology Holding's revenue size. The same is valid for expected Price-to-Profits (or Price / Earnings, P/E), more favorable than for 65% of alternatives. It is also positive for expected dividend yields with a Dividend Yield rank of 60 (dividends are expected to be higher than 60% of other stocks). But, compared with other companies in the same industry, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is higher than average, making the stock more expensive. Only 51% of all competitors have an even higher price compared with book capital which puts the Price-to-Capital Rank for ASE Technology Holding to 49. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 75, is a buy recommendation based on ASE Technology Holding's stock price compared with the company's operational size and dividend yields. A low level of book capital means that the company has a business that is leaner in assets than its competitors. For instance, the company could be leasing its production facilities or be more focussed on intellectual property, such as its brand and software, which is less visible in its book capital. If that is the case, the three good value ranks for Sales, Profits, and Dividends are reliable indicators for the stock price value. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more
| VALUE METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| PRICE VS. REVENUES (P/S) | ||||||||
| PRICE VS. REVENUES (P/S) | 89 |
|
93 |
|
91 |
|
77 |
|
| PRICE VS. PROFITS (P/E) | ||||||||
| PRICE VS. PROFITS (P/E) | 96 |
|
79 |
|
81 |
|
65 |
|
| PRICE VS. CAPITAL (Market-to-Book) | ||||||||
| PRICE VS. CAPITAL (Market-to-Book) | 82 |
|
73 |
|
63 |
|
49 |
|
| DIVIDEND YIELD | ||||||||
| DIVIDEND YIELD | 96 |
|
87 |
|
74 |
|
60 |
|
| CONSOLIDATED RANK: VALUE | ||||||||
| CONSOLIDATED RANK: VALUE | 100 |
|
97 |
|
97 |
|
75 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 59 (better than 59% compared with alternatives), ASE Technology Holding shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for ASE Technology Holding. Sales Growth has a rank of 50 which means that currently professionals expect the company to grow more than 50% of its competitors. Stock Returns are also above average with a rank of 87. But Capital Growth has only a rank of 44, which means that currently professionals expect the company to grow its invested capital less than 56% of its competitors. Profit Growth is also low, with a rank of only 38, which means that, currently, professionals expect the company to grow its profits below average. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 59, is a buy recommendation for growth and momentum investors. This is a surprising picture, as the messages from the operating growth indicators of revenues, profits, and invested capital are mixed, while stock returns are above average. It may indicate new intellectual properties, such as brand improvement or a strong market position that shows in revenues but not in the capital. The low profit-growth rate may indicate an early phase where costs are still high, and revenues don't fully cover upfront investments or fixed costs. The positive investor outlook with a 87% peer outperformance is reaffirmed in this case which may be a good sign for an investment into a well-protected high-growth company. This fact needs to be confirmed by researching the company website and press. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more
| GROWTH METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| REVENUE GROWTH | ||||||||
| REVENUE GROWTH | 28 |
|
38 |
|
45 |
|
50 |
|
| PROFIT GROWTH | ||||||||
| PROFIT GROWTH | 25 |
|
50 |
|
31 |
|
38 |
|
| CAPITAL GROWTH | ||||||||
| CAPITAL GROWTH | n/a |
|
54 |
|
64 |
|
44 |
|
| STOCK RETURNS | ||||||||
| STOCK RETURNS | 82 |
|
41 |
|
59 |
|
87 |
|
| CONSOLIDATED RANK: GROWTH | ||||||||
| CONSOLIDATED RANK: GROWTH | 55 |
|
29 |
|
49 |
|
59 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 10 (better than 10% compared with alternatives), the company ASE Technology Holding has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of ASE Technology Holding is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for ASE Technology Holding. Liquidity is at 32, meaning that the company generates less profit to service its debt than 68% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 20, meaning the company has an above-average debt-to-equity ratio. It has more debt than 80% of its competitors. Finally, Refinancing is at a rank of 13 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 87% of its competitors. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 10 (worse than 90% compared with alternatives), ASE Technology Holding has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of ASE Technology Holding because it may suffer significantly in case of future difficulties. ...read more
| SAFETY METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| LEVERAGE | ||||||||
| LEVERAGE | 4 |
|
4 |
|
14 |
|
20 |
|
| REFINANCING | ||||||||
| REFINANCING | 78 |
|
41 |
|
21 |
|
13 |
|
| LIQUIDITY | ||||||||
| LIQUIDITY | 30 |
|
19 |
|
27 |
|
32 |
|
| CONSOLIDATED RANK: SAFETY | ||||||||
| CONSOLIDATED RANK: SAFETY | 27 |
|
7 |
|
5 |
|
10 |
|
Sentiment Metrics in Detail
| SENTIMENT | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| ANALYST OPINIONS | ||||||||
| ANALYST OPINIONS | n/a |
|
67 |
|
53 |
|
new |
|
| OPINIONS CHANGE | ||||||||
| OPINIONS CHANGE | n/a |
|
69 |
|
47 |
|
new |
|
| PRO HOLDINGS | ||||||||
| PRO HOLDINGS | n/a |
|
26 |
|
71 |
|
new |
|
| MARKET PULSE | ||||||||
| MARKET PULSE | n/a |
|
32 |
|
33 |
|
new |
|
| CONSOLIDATED RANK: SENTIMENT | ||||||||
| CONSOLIDATED RANK: SENTIMENT | n/a |
|
46 |
|
51 |
|
new |
|
Free stock analysis by the purely fact based Obermatt Method for ASE Technology Holding from December 19, 2024.
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