ASE Industrial Holding Co Ltd (3711) fair value: what the stock is really worth
We calculate from audited financials what ASE Industrial Holding Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.
How to read this chart
60‑month range 62.19 TWD – 720.42 TWD · fair‑value band 140.06 TWD – 260.11 TWD · the 663.00 TWD price screens above the 200.08 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.
ASE Technology Holding Co., Ltd., together with its subsidiaries, provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It operates through Packaging, Testing, and EMS.
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ASE Technology Holding Co., Ltd., together with its subsidiaries, provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally. It operates through Packaging, Testing, and EMS. The company offers semiconductor packaging, interconnect materials production, front-end engineering testing, wafer probing, and final testing services, as well as integrated solutions for EMS (electronic manufacturing services) in relation to computing, peripherals, communications, industrial, automotive, and server applications. It also provides turnkey services, such as packaging, testing, and direct shipment of semiconductors to end users; wire bonding, including lead frame and substrate-based packages; advanced packages; heterogeneous integration; and other test-related services. In addition, the company engages in the leasing of properties; development, construction, sale, and management of real estate properties; management of parking lot; leasing of properties for shopping center; and management of commercial complex services and department store trading activities, as well as offers social, marketing and sales, information software, leasing and investing, and after-sales and sales support services. Further, it engages in the substrates production; investment advisory and warehousing management; design and manufacturing of electronic components and new electronic applications; technical advisory; management, training, and consulting of organization and human resources; projection of plastic; manufacture and sale of antennas, RF amplifiers and wave straps, PCBs, and tuners; and research and development activities. ASE Technology Holding Co., Ltd. was founded in 1984 and is based in Kaohsiung, Taiwan.
Stock analysis
ASE Industrial Holding Co Ltd (3711) currently trades at 663.00 TWD, while our model-based Fair Value estimate is 200.08 TWD, implying the stock looks roughly 231.3% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 200.08 TWD per share, and 0 of the 16 models we run sit above the 663.00 TWD price.
Bear case: the Asset-Based group reads lowest at 52.97 TWD, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 140.06 TWD (bear) to 260.11 TWD (bull), the price of 663.00 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ASE Industrial Holding Co Ltd reported revenue of 645B TWD in FY2025 versus 570B TWD in FY2021, a compound +3.2%/yr. Reported net income was 40.7B TWD in FY2025, compounding −9.3%/yr from FY2021.
Key figures
Market cap 2.9T TWD (≈ $92.5B) · P/E ratio 65.1 · P/S ratio 4.10 · EPS (TTM) 10.19 TWD · Dividend yield 0.9% · Net margin 6.3% · Return on equity 13.6% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 395% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at −70%, 3711 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (52.97 TWD to 457.15 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 140.06 TWDFair Value 200.08 TWDBull 260.11 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (7.40 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.1%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+8.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.9%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8% vs 6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 8%
Compare ASE Industrial Holding Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductors · 327 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−66% · Below median
Profitability
Return on equity (TTM)14% · Above median
Return on assets4% · Above median
Net margin (TTM)7% · Below median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth17% · Above median
Dividend yield (TTM)0.9% · Below median
Balance sheet
Debt / equity0.62× · Highest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)65.1× · Pricier than median
P/B7.77× · Priciest 25%
P/S (TTM)4.02× · Cheaper than median
EV/EBITDA22.4× · Cheaper than median
PEG0.99× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)86· sector 63
PAST (return on equity)54· sector 25
HEALTH (low debt)69· sector 96
DIVIDEND (yield)18· sector 19
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ASE Industrial Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3711
Frequently asked questions
Is ASE Industrial Holding Co Ltd (3711) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of 200.08 TWD versus a price of 663.00 TWD, about −70% upside (overvalued).
What is the fair value of 3711?
Our model-based fair value for ASE Industrial Holding Co Ltd is 200.08 TWD (as of Sep 17, 2026), built from audited fundamentals. The current price: 663.00 TWD.
What is the quality score of 3711?
ASE Industrial Holding Co Ltd has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ASE Industrial Holding Co Ltd (3711)?
Our model-based price target is the fair value of 200.08 TWD (as of Sep 17, 2026) from 16 valuation models. Cautious scenario 140.06 TWD, optimistic scenario 260.11 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the ASE Industrial Holding Co Ltd stock forecast for 2026?
Our models put fair value at 200.08 TWD, about −70% upside versus a price of 663.00 TWD (overvalued). Cautious scenario 140.06 TWD, optimistic scenario 260.11 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of ASE Industrial Holding Co Ltd (3711)?
ASE Industrial Holding Co Ltd reported trailing-twelve-month revenue of about 671B TWD (latest available figure, as of Sep 17, 2026).
Does ASE Industrial Holding Co Ltd pay a dividend?
ASE Industrial Holding Co Ltd currently shows a dividend yield of about 0.91% relative to its recent price (as of Sep 17, 2026).
What is the intrinsic value of ASE Industrial Holding Co Ltd (3711)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASE Industrial Holding Co Ltd it is 200.08 TWD per share (as of Sep 17, 2026), against a price of 663.00 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is ASE Industrial Holding Co Ltd stock overvalued or undervalued in 2026?
As of Sep 17, 2026, 3711 trades above its calculated fair value: price 663.00 TWD, fair value 200.08 TWD, a gap of about −70% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3711?
No. The price is what the market pays today (663.00 TWD); the fair value is what the company's own numbers justify (200.08 TWD). For ASE Industrial Holding Co Ltd the two are 462.92 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is ASE Industrial Holding Co Ltd worth?
The market values ASE Industrial Holding Co Ltd at about 2.9T TWD (market capitalisation, as of Sep 17, 2026). Per share that is 663.00 TWD; our models calculate a fair value of 200.08 TWD per share.
What do the bullish and bearish scenarios say about 3711?
Our models span a range for ASE Industrial Holding Co Ltd: cautious scenario 140.06 TWD, base 200.08 TWD, optimistic 260.11 TWD per share (as of Sep 17, 2026, price 663.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3711?
ASE Industrial Holding Co Ltd trades at a price-to-earnings ratio of 65.1 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 200.08 TWD is built from several models across several years. Other multiples: PEG 1.0, P/B 7.8, P/S 4.0, EV/EBITDA 22.4.
What is the PEG ratio of 3711?
The PEG ratio of ASE Industrial Holding Co Ltd is 0.99 (P/E divided by earnings growth, as of Sep 17, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of ASE Industrial Holding Co Ltd (3711)?
Balance-sheet figures for ASE Industrial Holding Co Ltd (as of Sep 17, 2026): return on equity 13.6%, debt of 0.62 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 3711 from its 52-week high?
ASE Industrial Holding Co Ltd trades at 663.00 TWD, about 1% below its 52-week high of 669.00 TWD and 395% above the low of 133.94 TWD (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of 200.08 TWD is for.
Which stocks are comparable to ASE Industrial Holding Co Ltd?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, SK hynix Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ASE Industrial Holding Co Ltd stock attractive at the current price?
The data as of Sep 17, 2026: price 663.00 TWD, calculated fair value 200.08 TWD (−70%), Quality Score 51/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3711 calculated?
We run ASE Industrial Holding Co Ltd through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 200.08 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. ASE Industrial Holding Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ASE Industrial Holding Co Ltd (3711)?
The closing price on Sep 21, 2026 was 663.00 TWD. Our model-based fair value is 200.08 TWD, about −70% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASE Industrial Holding Co Ltd right now?
The price sits above even our optimistic bull case (260.11 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (140.06 TWD to 260.11 TWD) leaves room in how you read the outcome.
Where does the earnings growth of ASE Industrial Holding Co Ltd (3711) come from?
Earnings per share at ASE Industrial Holding Co Ltd grew +4.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.6 %, EBIT margin −3.5 %, tax rate −0.3 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of ASE Industrial Holding Co Ltd
How large is the market capitalisation of ASE Industrial Holding Co Ltd (3711)?
The market capitalisation of ASE Industrial Holding Co Ltd is 2.9T TWD (≈ $92.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ASE Industrial Holding Co Ltd (3711)?
The price-to-sales ratio of ASE Industrial Holding Co Ltd is 4.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ASE Industrial Holding Co Ltd (3711)?
Earnings per share at ASE Industrial Holding Co Ltd are 10.19 TWD (price ÷ EPS = P/E 65.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASE Industrial Holding Co Ltd (3711)?
The dividend yield of ASE Industrial Holding Co Ltd is 0.9% (payout 59.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ASE Industrial Holding Co Ltd (3711)?
The net margin of ASE Industrial Holding Co Ltd is 6.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ASE Industrial Holding Co Ltd (3711)?
The return on equity (ROE) of ASE Industrial Holding Co Ltd is 13.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ASE Industrial Holding Co Ltd (3711)?
On an EBIT basis the return on assets of ASE Industrial Holding Co Ltd is 7.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ASE Industrial Holding Co Ltd (3711)?
The operating margin of ASE Industrial Holding Co Ltd is 10.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASE Industrial Holding Co Ltd (3711)?
Revenue at ASE Industrial Holding Co Ltd is growing +17.2% versus a year earlier (3y avg −1.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ASE Industrial Holding Co Ltd (3711)?
Earnings per share at ASE Industrial Holding Co Ltd are growing +87.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ASE Industrial Holding Co Ltd (3711) generate?
The free cash flow of ASE Industrial Holding Co Ltd is −19.9B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ASE Industrial Holding Co Ltd (3711) carry?
The net debt of ASE Industrial Holding Co Ltd is 172B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 17, 2026