ASE Technology Holding Co., Ltd.

TWSE:3711 Stock Report

Market Cap: NT$2.5t

ASE Technology Holding Future Growth

Future criteria checks 4/6

ASE Technology Holding is forecast to grow earnings and revenue by 33.2% and 17.8% per annum respectively. EPS is expected to grow by 33.9% per annum. Return on equity is forecast to be 24.9% in 3 years.

Key information

33.2%

Earnings growth rate

33.88%

EPS growth rate

Semiconductor earnings growth26.1%
Revenue growth rate17.8%
Future return on equity24.91%
Analyst coverage

Good

Last updated21 May 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 29

3711: Future Returns Will Rely On Elevated P/E Despite Stable Margins

Analysts have raised their fair value estimate for ASE Technology Holding from NT$352.53 to NT$365.92, citing adjustments to discount rate assumptions and a slightly higher future P/E multiple. What's in the News ASE Technology Holding reported unaudited consolidated net revenues of TWD 61,577 million for March 2026.
Narrative Update • Apr 09

3711: Future Returns Will Depend On Sustained High P/E Despite Margin Risks

Analysts have raised their NT$ price target for ASE Technology Holding to reflect updated fair value estimates of around NT$352.53, compared with about NT$346.42 previously. The revision is supported by updated assumptions regarding discount rates, revenue growth, profit margins, and forward P/E levels.
Narrative Update • Mar 26

3711: Future Returns Will Depend On Stable Margins And Sustained Elevated P/E

Analysts have nudged their price target on ASE Technology Holding slightly higher to NT$346.42 from NT$343.64, reflecting small adjustments to fair value assumptions, the discount rate, and the expected future P/E. Valuation Changes Fair Value: NT$343.64 to NT$346.42, a small upward adjustment based on refreshed inputs.
Narrative Update • Mar 11

3711: Future Returns Will Rely On Stable Margins Supporting Elevated P/E

Analysts have modestly adjusted their view on ASE Technology Holding, with the average price target moving from about NT$342 to about NT$344. This reflects updated assumptions around discount rate, fair value and expected future P/E levels.
Narrative Update • Feb 25

3711: Future Returns Will Depend On Sustained Margins Supporting Elevated P/E

Analysts have nudged their price target for ASE Technology Holding higher to NT$341.97, reflecting slightly lower assumed discount rates and steady expectations for revenue growth, profit margins, and future P/E. Valuation Changes Fair Value: NT$341.97 remains unchanged, indicating no adjustment to the central value estimate.
Narrative Update • Feb 11

3711: Fair Pricing Will Rely On Stronger Margins And Higher Future P/E

Analysts have lifted their fair value estimate for ASE Technology Holding from about $270 to roughly $342, citing updated assumptions for slightly faster revenue growth, improved profit margins, a lower discount rate, and a higher future P/E multiple. Valuation Changes Fair Value Estimate increased from NT$269.54 to NT$341.97, a sizable uplift in the implied long-term valuation anchor.
Narrative Update • Jan 27

3711: Modest Multiple Assumptions Will Sustain Overvaluation Despite Steady Margins

Analysts have nudged their price target for ASE Technology Holding higher, with fair value moving from US$266.76 to US$269.54. This reflects updated views on its discount rate, revenue growth, profit margin and expected future P/E.
Narrative Update • Jan 12

3711: Penang Manufacturing Deal Will Support Steady Margins With Measured Outlook

Analysts now see higher upside for ASE Technology Holding, lifting their price target by about US$14 per share, as small adjustments to fair value estimates, discount rates, revenue growth, profit margin and future P/E assumptions feed into a modestly richer outlook for the stock. What's in the News ASE Technology Holding and Analog Devices Inc.
Narrative Update • Dec 19

3711: Penang Facility Partnership Will Support Steady Margins With Balanced Outlook

Analysts have marginally raised their price target on ASE Technology Holding, reflecting an improved fair value estimate of approximately 252 dollars from about 250 dollars. This change is supported by slightly higher projected profit margins and a modestly richer future earnings multiple, despite largely unchanged growth expectations and a slightly higher discount rate.
Narrative Update • Dec 05

3711: Penang Facility Acquisition Will Support Steady Operations With Balanced Outlook

Analysts have modestly raised their price target on ASE Technology Holding to about $249.69, up roughly $3.53. This change reflects slightly lower perceived risk, steady growth expectations, and a marginally higher assumed future earnings multiple.
Narrative Update • Nov 21

3711: Penang Facility Acquisition And Long-Term Supply Deal Will Drive Upside

Analysts have increased their price target for ASE Technology Holding from $239.69 to $246.16. This reflects modestly improved outlooks for fair value and future price-to-earnings ratios in the latest assessment.
Narrative Update • Nov 06

3711: Global Expansion And Facility Acquisition Will Support Balanced Performance Ahead

Analysts have raised their price target for ASE Technology Holding from $176.29 to $239.69. They cite improved outlooks for revenue growth and profit margins as key drivers behind this more optimistic valuation.
Narrative Update • Oct 23

Analysts Lift ASE Technology Price Target Amid Acquisition News and Stronger Growth Forecasts

Narrative Update: ASE Technology Holding Analyst Price Target Revision Analysts have raised their price target for ASE Technology Holding from $172.76 to $176.29. They cite expectations of improved revenue growth and profit margins as reasons for the revision.
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New Narrative • Nov 07

Expanding Operations And Decisive Partnerships Propel Future Growth In Advanced Packaging

Shifts towards advanced packaging and testing services are expected to boost revenue and improve gross margins due to higher service complexity.

Earnings and Revenue Growth Forecasts

TWSE:3711 - Analysts future estimates and past financials data (TWD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,111,277129,764-17,231234,4469
12/31/2027930,60697,758-70,136202,71416
12/31/2026791,84974,387-103,345160,06715
3/31/2026670,89747,252-15,836158,663N/A
12/31/2025645,38840,658-23,401142,249N/A
9/30/2025629,73635,257-53,154106,689N/A
6/30/2025621,27234,120-20,347114,126N/A
3/31/2025610,76034,376-11,43794,067N/A
12/31/2024595,41032,4829,70990,788N/A
9/30/2024593,72732,56242,044102,370N/A
6/30/2024587,78931,60646,541101,188N/A
3/31/2024583,82631,56948,472100,358N/A
12/31/2023581,91431,72559,878114,422N/A
9/30/2023598,75138,06454,913117,770N/A
6/30/2023633,20946,75349,649115,508N/A
3/31/2023657,37355,00043,464114,579N/A
12/31/2022670,87362,09037,983111,001N/A
9/30/2022666,39273,51824,24893,743N/A
6/30/2022628,43170,23017,33489,958N/A
3/31/2022594,91864,58018,55493,163N/A
12/31/2021569,99760,1509,76081,734N/A
9/30/2021545,93843,0365,33876,937N/A
6/30/2021518,46935,5729,16875,590N/A
3/31/2021499,09132,17113,53377,364N/A
12/31/2020476,97926,97112,00975,061N/A
9/30/2020444,12423,93214,51878,523N/A
6/30/2020438,48622,95310,47478,116N/A
3/31/2020421,67818,7057,08069,734N/A
12/31/2019413,18216,850N/A72,303N/A
9/30/2019411,18815,913N/A59,570N/A
6/30/2019401,22816,436N/A63,764N/A
3/31/2019394,98825,209N/A58,360N/A
12/31/2018371,09225,262N/A51,075N/A
9/30/2018341,05026,061N/A46,386N/A
6/30/2018307,33126,141N/A38,624N/A
3/31/2018288,85622,525N/A40,074N/A
12/31/2017290,44122,988N/A47,431N/A
9/30/2017283,58423,727N/A48,665N/A
6/30/2017282,48923,547N/A52,055N/A
3/31/2017279,06420,001N/A54,184N/A
12/31/2016274,88421,324N/A52,108N/A
9/30/2016273,30418,566N/A59,957N/A
6/30/2016273,39019,796N/A57,792N/A
3/31/2016281,01119,145N/A55,535N/A
12/31/2015283,30319,732N/A57,548N/A
9/30/2015284,39923,370N/A47,182N/A
6/30/2015278,16123,201N/A46,356N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3711's forecast earnings growth (33.2% per year) is above the savings rate (1.3%).

Earnings vs Market: 3711's earnings (33.2% per year) are forecast to grow faster than the TW market (26.5% per year).

High Growth Earnings: 3711's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 3711's revenue (17.8% per year) is forecast to grow slower than the TW market (18.9% per year).

High Growth Revenue: 3711's revenue (17.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 3711's Return on Equity is forecast to be high in 3 years time (24.9%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/25 15:33
End of Day Share Price 2026/05/25 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ASE Technology Holding Co., Ltd. is covered by 34 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stefan ChangAletheia Analyst Network Limited
Andrew LuBarclays
Mark LiBernstein