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ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the First Quarter of 2026

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TAIPEI, April 29, 2026

TAIPEI, April 29, 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$173,662 million for 1Q26, up by 17.2% year-over-year and down by 2.4% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT$14,148 million, up from NT$7,554 million in 1Q25 and down from NT$14,713 million in 4Q25.  Basic earnings per share for the quarter were NT$3.24 (or US$0.205 per ADS), compared to NT$1.75 for 1Q25 and NT$3.37 for 4Q25.  Diluted earnings per share for the quarter were NT$3.08 (or US$0.195 per ADS), compared to NT$1.64 for 1Q25 and NT$3.24 for 4Q25.

RESULTS OF OPERATIONS

1Q26 Results Highlights – Consolidated
  • Net revenues from packaging operations, testing operations, EMS operations, and others represented approximately 51%, 12%, 36%, and 1% of the total net revenues for the quarter, respectively.
  • Cost of revenues was NT$138,812 million for the quarter, down from NT$143,179 million in 4Q25.
    - Raw material cost totaled NT$79,472 million for the quarter, representing 46% of the total net revenues.
    - Labor cost totaled NT$20,608 million for the quarter, representing 12% of the total net revenues.
    - Depreciation, amortization and rental expenses totaled NT$17,276 million for the quarter.
  • Gross margin increased by 0.6 percentage points to 20.1% in 1Q26 from 19.5% in 4Q25.
  • Operating margin was 10.1% in 1Q26, compared to 9.9% in 4Q25.
  • Non-operating items:
    - Net interest expense was NT$1,576 million.
    - Net gain on foreign exchange hedging activities of NT$838 million.
    - Net gain on equity-method investments was NT$728 million.
    - Other net non-operating income was NT$678 million, primarily attributable to miscellaneous income.
    Total non-operating income for the quarter was NT$668 million.
  • Income before tax was NT$18,200 million in 1Q26, compared to NT$18,260 million in 4Q25. We recorded income tax expenses of NT$3,635 million for the quarter, compared to NT$3,248 million in 4Q25.
  • Net income attributable to shareholders of the parent was NT$14,148 million in 1Q26, compared to NT$7,554 million in 1Q25 and NT$14,713 million in 4Q25.
  • Our total number of shares outstanding at the end of the quarter was 4,460,833,082, including treasury stock owned by our subsidiaries in 1Q26. Our 1Q26 basic earnings per share of NT$3.24 (or US$0.205 per ADS) were based on 4,373,148,411 weighted average number of shares outstanding in 1Q26. Our 1Q26 diluted earnings per share of NT$3.08 (or US$0.195 per ADS) were based on 4,485,185,933 weighted average number of shares outstanding in 1Q26.

1Q26 Results Highlights – ATM
  • Net revenues were NT$112,434 million for the quarter, up by 29.7% year-over-year and up by 2.5% sequentially.
  • Cost of revenues was NT$83,236 million for the quarter, up by 24.1% year-over-year and up by 2.9% sequentially.
    - Raw material cost totaled NT$31,784 million for the quarter, representing 28% of the total net revenues.
    - Labor cost totaled NT$17,084 million for the quarter, representing 15% of the total net revenues.
    - Depreciation, amortization and rental expenses totaled NT$15,817 million for the quarter.
  • Gross margin decreased by 0.3 percentage points to 26.0% in 1Q26 from 26.3% in 4Q25.
  • Operating margin was 14.1% in 1Q26, compared to 14.7% in 4Q25.

1Q26 Results Highlights – EMS
  • Net revenues were NT$61,875 million, down by 0.7% year-over-year and down by 10.3% sequentially.
  • Cost of revenues for the quarter was NT$55,981 million, down by 1.4% year-over-year and down by 10.8% sequentially.
    - Raw material cost totaled NT$48,073 million for the quarter, representing 78% of the total net revenues.
    - Labor cost totaled NT$3,434 million for the quarter, representing 6% of the total net revenues.
    - Depreciation, amortization and rental expenses totaled NT$1,215 million for the quarter.
  • Gross margin increased by 0.5 percentage points to 9.5% in 1Q26 from 9.0% in 4Q25.
  • Operating margin was 3.1% in 1Q26, compared to 2.8% in 4Q25.

LIQUIDITY AND CAPITAL RESOURCES
  • Equipment capital expenditures in 1Q26 totaled US$1,003 million, of which US$636 million was used in packaging operations, US$326 million in testing operations, US$40 million in EMS operations and US$1 million in interconnect materials operations and others.
  • Total unused credit lines amounted to NT$419,386 million as of March 31, 2026.
  • Current ratio was 1.15 and net debt to equity ratio was 0.40 as of March 31, 2026.
  • Total number of employees was 107,950 as of March 31, 2026, compared to 105,947 as of December 31, 2025.

BUSINESS REVIEW

Customers

ATM BASIS
  • Our five largest customers together accounted for approximately 43% of our total net revenues in 1Q26, compared to 41% in 4Q25. One customer accounted for more than 10% of our total net revenues in 1Q26.
  • Our top 10 customers contributed 58% of our total net revenues in both 1Q26 and 4Q25.
  • Our customers that are integrated device manufacturers or IDMs accounted for 38% of our total net revenues in 1Q26, compared to 35% in 4Q25.

EMS BASIS
  • Our five largest customers together accounted for approximately 64% of our total net revenues in 1Q26, compared to 70% in 4Q25. One customer accounted for more than 10% of our total net revenues in 1Q26.
  • Our top 10 customers contributed 71% of our total net revenues in 1Q26, compared to 76% in 4Q25.

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, the 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.  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 2025 Annual Report on Form 20-F filed on April 1, 2026.

Supplemental Financial Information
(Unaudited)

Consolidated Operations

1Q26 4Q25 1Q25
EBITDA[2] (NT$ million) 38,165 38,344 27,628

ATM Operations

1Q26 4Q25 1Q25
Net Revenues (NT$ million) 112,434 109,707 88,668
Revenues by Application


Communication 43 % 45 % 48 %
Computing 27 % 25 % 22 %
Automotive, Consumer & Others 30 % 30 % 30 %
Revenues by Type


Bumping, Flip Chip, WLP & SiP 49 % 49 % 46 %
Wirebonding 24 % 24 % 28 %
Others 7 % 7 % 6 %
Testing 19 % 19 % 18 %
Material 1 % 1 % 2 %
Capacity & EBITDA


Equipment CapEx (US$ million) 963 704 869
EBITDA2 (NT$ million) 34,524 34,451 24,146
Number of Wirebonders 24,926 25,001 25,222
Number of Testers 7,585 7,359 6,686

EMS Operations

1Q26 4Q25 1Q25
Net Revenues (NT$ million) 61,875 68,991 62,295
Revenues by Application


Communication 25 % 30 % 33 %
Computing 15 % 11 % 11 %
Consumer 35 % 36 % 31 %
Industrial 14 % 13 % 13 %
Automotive 9 % 8 % 10 %
Others 2 % 2 % 2 %
Capacity


Equipment CapEx (US$ million) 40 28 23
 

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

Mar. 31

2026
Dec. 31

2025
Mar. 31

2025
Net revenues




Packaging 88,981
86,465
68,411
Testing 21,041
20,863
16,004
EMS 61,361
68,555
61,860
Others 2,279
2,032
1,878
Total net revenues 173,662
177,915
148,153






Cost of revenues (138,812)
(143,179)
(123,260)
Gross profit 34,850
34,736
24,893






Operating expenses




Research and development (9,210)
(8,960)
(7,579)
Selling, general and administrative (8,108)
(8,086)
(7,643)
Total operating expenses (17,318)
(17,046)
(15,222)
Operating income 17,532
17,690
9,671






Net non-operating income and expenses




Interest expense - net (1,576)
(1,712)
(1,256)
Foreign exchange loss - net (2,225)
(2,992)
(1,675)
Gain on valuation of financial assets and liabilities - net 3,063
4,376
2,873
Gain on equity-method investments - net 728
257
40
Others - net 678
641
157
Total non-operating income and expenses 668
570
139
Income before tax 18,200
18,260
9,810






Income tax expense (3,635)
(3,248)
(2,022)
Income from operations and before non-controlling interests 14,565
15,012
7,788
Non-controlling interests (417)
(299)
(234)






Net income attributable to shareholders of the parent 14,148
14,713
7,554






Per share data:




Earnings per share




– Basic NT$3.24
NT$3.37
NT$1.75
– Diluted NT$3.08
NT$3.24
NT$1.64






Earnings per equivalent ADS




– Basic US$0.205
US$0.219
US$0.106
– Diluted US$0.195
US$0.210
US$0.100






Number of weighted average shares used in diluted EPS calculation (in thousand shares) 4,485,186
4,462,335
4,410,238






FX (NTD/USD) 31.53
30.88
32.79

 

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

For the three months ended

Mar. 31

2026
Dec. 31

2025
Mar. 31

2025
Net revenues:




Packaging 89,673
87,397
69,360
Testing 21,041
20,863
16,004
Direct Material 1,621
1,352
1,219
Others 99
95
85
Total net revenues 112,434
109,707
86,668






Cost of revenues (83,236)
(80,883)
(67,057)
Gross profit 29,198
28,824
19,611






Operating expenses:




Research and development (7,497)
(7,182)
(6,043)
Selling, general and administrative (5,824)
(5,561)
(5,233)
Total operating expenses (13,321)
(12,743)
(11,276)
Operating income 15,877
16,081
8,335

 

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

For the three months ended

Mar. 31

2026
Dec. 31

2025
Mar. 31

2025






Net revenues 61,875
68,991
62,295






Cost of revenues (55,981)
(62,752)
(56,767)
Gross profit 5,894
6,239
5,528






Operating expenses:




Research and development (1,751)
(1,813)
(1,580)
Selling, general and administrative (2,237)
(2,467)
(2,340)
Total operating expenses (3,988)
(4,280)
(3,920)
Operating income 1,906
1,959
1,608

 

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



As of Mar. 31, 2026

As of Dec. 31, 2025
Current assets





Cash and cash equivalents

87,811

92,469
Financial assets – current

26,141

9,514
Trade receivables

126,007

125,042
Inventories

76,043

69,383
Others

21,696

17,387
Total current assets

337,698

313,795







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

50,602

45,677
Property, plant and equipment

459,470

421,115
Right-of-use assets

12,265

12,636
Intangible assets

65,042

64,807
Others

32,450

31,303
Total assets

957,527

889,333







Current liabilities





Short-term borrowings[3]

49,724

43,328
Long-term debts - current portion

6,091

6,688
Trade payables

86,898

88,754
Others

151,789

105,579
Total current liabilities

294,502

244,349







Bonds payable

1,999

11,468
Long-term borrowings[3]

199,142

202,613
Other liabilities

80,740

57,536
Total liabilities

576,383

515,966







Equity attributable to shareholders of the parent

350,617

346,900
Non-controlling interests

30,527

26,467
Total liabilities & shareholders' equity

957,527

889,333














Current ratio

1.15

1.28
Net debt to equity ratio

0.40

0.46
 

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

For the three months ended

Mar. 31

2026
Dec. 31

2025
Mar. 31

2025

Cash Flows from Operating Activities:







Income before tax
18,200
18,260
9,810

Depreciation & amortization
18,648
17,825
16,092

Other operating activities items
(461)
34,720
(5,929)

Net cash generated from operating activities
36,387
70,805
19,973

Cash Flows from Investing Activities:







     Net payments for property, plant and equipment
(44,092)
(37,776)
(36,349)

Other investment activities items
(1,653)
(818)
(1,212)

Net cash used in investing activities
(45,745)
(38,594)
(37,561)

Cash Flows from Financing Activities:







Net proceeds from (repayment of) borrowings and bonds
73
(20,783)
16,149

Other financing activities items
765
426
262

Net cash generated from (used in) financing activities
838
(20,357)
16,411

Foreign currency exchange effect
3,862
5,473
1,784

Net increase (decrease) in cash and cash equivalents
(4,658)
17,327
607

Cash and cash equivalents at the beginning of period
92,469
75,142
76,493

Cash and cash equivalents at the end of period
87,811
92,469
77,100













 

 

[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.

 

Investor Relations Contact

       ir@aseglobal.com
       Tel: +886.2.6636.5678
       https://www.aseglobal.com

 

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SOURCE ASE Technology Holding Co., Ltd.

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