company background image
2DQ

ASE Technology Holding DB:2DQ Stock Report

Last Price

NT$5.95

Market Cap

NT$12.7b

7D

-5.6%

1Y

-14.4%

Updated

28 Apr, 2022

Data

Company Financials +
2DQ fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance5/6
Financial Health4/6
Dividends3/6

2DQ Stock Overview

ASE Technology Holding Co., Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

ASE Technology Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ASE Technology Holding
Historical stock prices
Current Share PriceNT$5.95
52 Week HighNT$8.35
52 Week LowNT$5.55
Beta1.19
1 Month Change-8.46%
3 Month Change1.71%
1 Year Change-14.39%
3 Year Changen/a
5 Year Changen/a
Change since IPO41.63%

Recent News & Updates

Shareholder Returns

2DQDE SemiconductorDE Market
7D-5.6%-4.0%-3.4%
1Y-14.4%-17.6%-11.1%

Return vs Industry: 2DQ exceeded the German Semiconductor industry which returned -20.2% over the past year.

Return vs Market: 2DQ underperformed the German Market which returned -13.1% over the past year.

Price Volatility

Is 2DQ's price volatile compared to industry and market?
2DQ volatility
2DQ Average Weekly Movement5.0%
Semiconductor Industry Average Movement6.9%
Market Average Movement6.3%
10% most volatile stocks in DE Market10.2%
10% least volatile stocks in DE Market3.2%

Stable Share Price: 2DQ is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 2DQ's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1984n/aRichard Changhttps://www.aseglobal.com

ASE Technology Holding Co., Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It offers packaging services, including flip chip ball grid array (BGA) and chip scale package (CSP), advanced chip scale packages, quad flat packages, low profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs, and 3D chip packages; stacked die solutions in various packages; and copper and silver wire bonding solutions. The company also provides advanced packages, such as flip chip BGA; heat-spreader FCBGA; flip-chip CSP; hybrid FCCSP; flip chip package in package and package on package (POP); advanced single sided substrate; high-bandwidth POP; fan-out wafer-level packaging; SESUB; and 2.5D silicon interposer.

ASE Technology Holding Fundamentals Summary

How do ASE Technology Holding's earnings and revenue compare to its market cap?
2DQ fundamental statistics
Market CapNT$393.53b
Earnings (TTM)NT$63.91b
Revenue (TTM)NT$570.00b

6.2x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2DQ income statement (TTM)
RevenueNT$570.00b
Cost of RevenueNT$459.63b
Gross ProfitNT$110.37b
Other ExpensesNT$46.46b
EarningsNT$63.91b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Apr 28, 2022

Earnings per share (EPS)15.10
Gross Margin19.36%
Net Profit Margin11.21%
Debt/Equity Ratio75.8%

How did 2DQ perform over the long term?

See historical performance and comparison

Dividends

4.5%

Current Dividend Yield

28%

Payout Ratio

Valuation

Is ASE Technology Holding undervalued compared to its fair value and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 2DQ (€5.95) is trading below our estimate of fair value (€17.6)

Significantly Below Fair Value: 2DQ is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2DQ is good value based on its PE Ratio (6.2x) compared to the German Semiconductor industry average (23.8x).

PE vs Market: 2DQ is good value based on its PE Ratio (6.2x) compared to the German market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: 2DQ's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 2DQ is good value based on its PB Ratio (1.5x) compared to the DE Semiconductor industry average (2.9x).


Future Growth

How is ASE Technology Holding forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-1.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2DQ's earnings are forecast to decline over the next 3 years (-1.7% per year).

Earnings vs Market: 2DQ's earnings are forecast to decline over the next 3 years (-1.7% per year).

High Growth Earnings: 2DQ's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 2DQ's revenue (8.1% per year) is forecast to grow faster than the German market (5.4% per year).

High Growth Revenue: 2DQ's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2DQ's Return on Equity is forecast to be low in 3 years time (19.6%).


Past Performance

How has ASE Technology Holding performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


15.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2DQ has a large one-off gain of NT$17.2B impacting its December 31 2021 financial results.

Growing Profit Margin: 2DQ's current net profit margins (11.2%) are higher than last year (5.8%).


Past Earnings Growth Analysis

Earnings Trend: 2DQ's earnings have grown by 15% per year over the past 5 years.

Accelerating Growth: 2DQ's earnings growth over the past year (131.6%) exceeds its 5-year average (15% per year).

Earnings vs Industry: 2DQ earnings growth over the past year (131.6%) exceeded the Semiconductor industry 115.9%.


Return on Equity

High ROE: 2DQ's Return on Equity (24%) is considered high.


Financial Health

How is ASE Technology Holding's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2DQ's short term assets (NT$292.4B) exceed its short term liabilities (NT$210.9B).

Long Term Liabilities: 2DQ's short term assets (NT$292.4B) exceed its long term liabilities (NT$187.4B).


Debt to Equity History and Analysis

Debt Level: 2DQ's net debt to equity ratio (47.1%) is considered high.

Reducing Debt: 2DQ's debt to equity ratio has increased from 66.4% to 75.8% over the past 5 years.

Debt Coverage: 2DQ's debt is well covered by operating cash flow (39.2%).

Interest Coverage: 2DQ's interest payments on its debt are well covered by EBIT (31.6x coverage).


Balance Sheet


Dividend

What is ASE Technology Holding current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.52%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 2DQ's dividend (4.52%) is higher than the bottom 25% of dividend payers in the German market (1.32%).

High Dividend: 2DQ's dividend (4.52%) is in the top 25% of dividend payers in the German market (4.02%)


Stability and Growth of Payments

Stable Dividend: 2DQ has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 2DQ's dividend payments have increased, but the company has only paid a dividend for 3 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (28.3%), 2DQ's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (182.1%), 2DQ's dividend payments are not well covered by cash flows.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Richard Chang (74 yo)

no data

Tenure

Mr. Hung-Pen Chang, also known as Richard, has been Vice Chairman of ASE Technology Holding Co. Ltd. since March 2019 and serves as its President since April 2018 and has been its General Manager. He serve...


Leadership Team

Experienced Management: 2DQ's management team is considered experienced (4 years average tenure).


Board Members

Experienced Board: 2DQ's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ASE Technology Holding Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: ASE Technology Holding Co., Ltd.
  • Ticker: 2DQ
  • Exchange: DB
  • Founded: 1984
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: NT$393.530b
  • Listing Market Cap: NT$12.661b
  • Shares outstanding: 4.23b
  • Website: https://www.aseglobal.com

Location

  • ASE Technology Holding Co., Ltd.
  • 26, Chin 3rd Road
  • Nanzih District
  • Kaohsiung
  • 811
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/04/28 00:00
End of Day Share Price2022/04/28 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.