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Q3 2026 consolidated revenue, gross margin and operating margin increased sequentially and year over year, with fourth-quarter growth and margin expansion projected. AlphAI read ASE Technology Holding's Q3 FY2026 filing as strong. 2 quarters are on record below.

Q3 FY2026

Filed Oct 29, 2026
AlphAI · Earnings readASX · Q3 2026 · ended Sept. 30, 2026

Q3 2026 consolidated revenue, gross margin and operating margin increased sequentially and year over year, with fourth-quarter growth and margin expansion projected.

✓Strong quarter

Total net revenues increased 28% QoQ and 45% YoY, while gross margin rose to 22.1% and operating margin rose to 13.6%. Both ATM and EMS reported revenue growth, and management projected further consolidated revenue growth and higher gross margin in Q4 2026.

Revenue
244,161
45% y/y · 28% q/q
ATM
150,593 (NT$ million)
52% y/y · 20% q/q
Gross margin · other
22.1%
87% y/y · 34% q/q
EPS · non-GAAP
6.01
Fourth Quarter 2026 outlook
Consolidated 4th quarter revenue should grow by 6 to 8 percent quarter over quarter; ATM 4th quarter revenue should grow by 11 to 13 percent quarter over quarter; EMS 4th quarter revenue should be flattish quarter over quarter.
GM Consolidated 4th quarter gross margin should be between 23% to 24%; ATM 4th quarter gross margin should increase by 100 to 200 basis points quarter over quarter.

Key metrics

shortened, hover for the filing’s print
MetricValueq/qy/y
Total Net Revenues (NT$ million)other244,16128%45%
Gross Profit (NT$ million)other53,96734%87%
Gross Marginother22.1%34%87%
Operating Income (Loss) (NT$ million)other33,14257%151%
Operating Marginother13.6%57%151%
Pretax Income (Loss) (NT$ million)other32,71027%134%
Income Tax Benefit (Expense) (NT$ million)other(4,831)––
Non-controlling Interests (NT$ million)other(883)––
Net Income Attributable to Shareholders of the Parent (NT$ million)other26,99628%148%
Basic EPS (NT$)other6.1328%145%
Diluted EPS (NT$)other5.8427%142%
Gross profit excl. PPA (NT$ thousand)non-GAAP54,488,214––
Operating income excl. PPA (NT$ thousand)non-GAAP33,933,592––
Pretax income excl. PPA (NT$ thousand)non-GAAP33,504,227––
Net income attributable to shareholders of the parent excl. PPA (NT$ thousand)non-GAAP27,762,503––
Basic EPS (NT$) excl. PPAnon-GAAP6.31––
Diluted EPS (NT$) excl. PPAnon-GAAP6.01––
Quarterly EBITDA (NT$ million)other57,963––
Cash and cash equivalent (NT$ million)other$88.42B––
Financial assets - current (NT$ million)other19,517––
Financial assets - non current & investments - equity method (NT$ million)other70,189––
Property, plant & equipment (NT$ million)other621,962––
Total assets (NT$ million)other1,244,785––
Total interest bearing debts (NT$ million)other406,461––
Total liabilities (NT$ million)other790,863––
Total equity (Including non-controlling interest) (NT$ million)other453,922––
Current ratioother1.16––
Net debt to equity ratioother0.66––

Segments

SegmentRevenueq/qy/y
ATMATM gross profit was 46,412 (NT$ million), gross margin was 30.6%, and operating income was 30,243 (NT$ million).150,593 (NT$ million)20%52%
EMSEMS gross profit was 7,793 (NT$ million), gross margin was 8.3%, and operating income was 3,111 (NT$ million).92,997 (NT$ million)42%36%
OthersOthers represented 0.2% of consolidated net revenues.571 (NT$ million)-2%-26%
ATM PackagingPackaging represented 81.2% of ATM net revenues.122,945 (NT$ million)23%53%
ATM TestingTesting represented 17.4% of ATM net revenues.26,302 (NT$ million)11%43%
ATM Direct MaterialDirect Material represented 1.4% of ATM net revenues.2,148 (NT$ million)4%81%
ATM OthersOthers represented 0.0% of ATM net revenues.90 (NT$ million)-12%17%
ATM Operations Total Net RevenuesThe ATM revenue reported here contains revenues eliminated at the holding company level related to intercompany transactions between the ATM & EMS businesses.151,485 (NT$ million)20%51%
EMS Operations Net RevenuesEMS gross profit increased 22% YoY and 33% QoQ to 7,793 (NT$ million); operating income increased 22% YoY and 98% QoQ to 3,111 (NT$ million).93,469 (NT$ million)42%35%

Amounts quoted below without a unit are in millions, as in the filing’s tables. Per-share figures are as printed.

Fourth Quarter 2026 outlook

  • RevenueConsolidated 4th quarter revenue should grow by 6 to 8 percent quarter over quarter; ATM 4th quarter revenue should grow by 11 to 13 percent quarter over quarter; EMS 4th quarter revenue should be flattish quarter over quarter.
  • Gross marginConsolidated 4th quarter gross margin should be between 23% to 24%; ATM 4th quarter gross margin should increase by 100 to 200 basis points quarter over quarter.
  • NoteConsolidated 4th quarter operating margin should be between 14.5% to 15.5%.
  • NoteEMS 4th quarter operating margin should be around 2%.
  • NoteExchange rate assumption: 1 US dollar to 31.9 NT dollars (versus 31.9 in 3rd quarter 2026).

What drove it

  • Consolidated ATM net revenues increased 52% YoY and 20% QoQ to 150,593 (NT$ million).
  • Consolidated EMS net revenues increased 36% YoY and 42% QoQ to 92,997 (NT$ million).
  • ATM Packaging revenue increased 53% YoY and 23% QoQ to 122,945 (NT$ million).
  • ATM Testing revenue increased 43% YoY and 11% QoQ to 26,302 (NT$ million).
  • ATM gross margin was 30.6%, compared with 27.3% in Q2 / 2026 and 22.6% in Q3 / 2025.
  • EMS operating income was 3,111 (NT$ million), up 98% QoQ and 22% YoY.

Concerns

  • EMS gross margin was 8.3%, below 8.9% in Q2 / 2026 and 9.2% in Q3 / 2025.
  • Total interest bearing debts were 406,461 (NT$ million) at Sept. 30, 2026, compared with 306,230 (NT$ million) at Jun. 30, 2026.
  • Net debt to equity ratio was 0.66 at Sept. 30, 2026, compared with 0.47 at Jun. 30, 2026.
  • Other revenue was 571 (NT$ million), down 26% YoY and 2% QoQ.

What to watch

  • Whether consolidated Q4 2026 revenue grows by 6 to 8 percent quarter over quarter.
  • Whether ATM Q4 2026 revenue grows by 11 to 13 percent quarter over quarter and its gross margin increases by 100 to 200 basis points quarter over quarter.
  • Whether consolidated Q4 2026 gross margin reaches 23% to 24% and operating margin reaches 14.5% to 15.5%.
  • Whether EMS Q4 2026 revenue is flattish quarter over quarter and operating margin is around 2%.
  • Total interest bearing debts, which were 406,461 (NT$ million) at Sept. 30, 2026.

Balance sheet and cash flow

  • Cash and cash equivalent was $88,421 (NT$ million) at Sept. 30, 2026, versus $91,292 (NT$ million) at Jun. 30, 2026.
  • Total interest bearing debts were 406,461 (NT$ million) at Sept. 30, 2026, versus 306,230 (NT$ million) at Jun. 30, 2026.
  • Bonds payable were 42,201 (NT$ million), versus 14,985 (NT$ million).
  • Long-term loans & long-term bills payable were 276,633 (NT$ million), versus 209,603 (NT$ million).
  • Property, plant & equipment was 621,962 (NT$ million), versus 517,715 (NT$ million).
  • Quarterly EBITDA was 57,963 (NT$ million), versus 45,779 (NT$ million).
  • Current ratio was 1.16, versus 1.07. Net debt to equity ratio was 0.66, versus 0.47.

Analysis

ASE Technology reported a strong Q3 2026. Total net revenues were 244,161 (NT$ million), up 28% QoQ and 45% YoY. Gross profit was 53,967 (NT$ million), up 34% QoQ and 87% YoY, while gross margin reached 22.1%, compared with 21.0% in Q2 / 2026 and 17.1% in Q3 / 2025. Operating income was 33,142 (NT$ million), up 57% QoQ and 151% YoY, and operating margin improved to 13.6% from 11.1% and 7.8%, respectively.

ATM was the principal contributor to growth. Consolidated ATM revenue reached 150,593 (NT$ million), up 20% QoQ and 52% YoY. Within ATM operations, Packaging revenue was 122,945 (NT$ million), up 23% QoQ and 53% YoY, while Testing revenue was 26,302 (NT$ million), up 11% QoQ and 43% YoY. ATM gross margin expanded to 30.6% from 27.3% in Q2 / 2026 and 22.6% in Q3 / 2025, and ATM operating income increased 53% QoQ and 178% YoY to 30,243 (NT$ million).

EMS revenue also accelerated, with consolidated EMS net revenues of 92,997 (NT$ million), up 42% QoQ and 36% YoY. EMS operating income increased 98% QoQ to 3,111 (NT$ million), but EMS gross margin was 8.3%, compared with 8.9% in Q2 / 2026 and 9.2% in Q3 / 2025. Net income attributable to shareholders of the parent was 26,996 (NT$ million), up 28% QoQ and 148% YoY. Diluted EPS was 5.84 (NT$), up 27% QoQ and 142% YoY.

The balance sheet reflected higher investment and leverage. Property, plant & equipment was 621,962 (NT$ million) at Sept. 30, 2026, versus 517,715 (NT$ million) at Jun. 30, 2026. Total interest bearing debts were 406,461 (NT$ million), versus 306,230 (NT$ million), and net debt to equity ratio was 0.66 versus 0.47. Cash and cash equivalent was $88,421 (NT$ million), versus $91,292 (NT$ million).

Management projected further Q4 2026 expansion, with consolidated revenue expected to grow by 6 to 8 percent quarter over quarter, consolidated gross margin expected between 23% to 24%, and consolidated operating margin expected between 14.5% to 15.5%. ATM revenue is projected to grow by 11 to 13 percent quarter over quarter, while EMS revenue is expected to be flattish quarter over quarter and EMS operating margin is expected to be around 2%.

Not in the filing

stated, not guessed
  • Accounting standard was not stated in the provided filing text.
  • Operating cash flow was not reported.
  • Free cash flow was not reported.
  • Share repurchases were not reported.
  • Dividends were not reported.
  • Capital expenditures were not reported in a tabular Q3 2026 line item.
  • A Q3 2026 tax rate was not reported.
  • Prior-quarter and prior-year figures were not reported for PPA-excluded metrics as percentage changes.
  • Previous-release outlook was not provided; therefore no comparison of actual results with prior guidance is available.

Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.

Read our full coverage of this filing →

Q2 FY2026

Filed Jul 30, 2026
AlphAI · Earnings readASX · Q2 2026 · ended June 30, 2026

ASE Technology Holding Co., Ltd. reported unaudited consolidated net revenues of NT$191,064 million for 2Q26, up by 26.7% year-over-year and up by 10.0% sequentially, with net income attributable to shareholders of the parent of NT$21,068 million.

✓Strong quarter

Consolidated revenue, operating income and net income increased year-over-year and sequentially, while consolidated gross margin and operating margin improved sequentially. ATM delivered stronger revenue growth and margin expansion, although EMS gross margin and operating margin declined sequentially.

Revenue
NT$191B
up by 26.7% y/y · up by 10.0% q/q
Packaging
NT$99.4B
Gross margin · other
21.0%
increased by 1 percentage point q/q
EPS · other
NT$4.61

Key metrics

shortened, hover for the filing’s print
MetricValueq/qy/y
Total net revenuesotherNT$191.1Bup by 10.0%up by 26.7%
Cost of revenuesotherNT$150.9B––
Gross profitotherNT$40.15B––
Gross marginother21.0%increased by 1 percentage point–
Research and development expenseotherNT$10.23B––
Selling, general and administrative expenseotherNT$8.79B––
Total operating expensesotherNT$19.02B––
Operating incomeotherNT$21.13B––
Operating marginother11.1%––
Interest expense - netotherNT$1.85B––
Foreign exchange gain - netotherNT$738M––
Gain on valuation of financial assets and liabilities - netotherNT$2.90B––
Gain on equity-method investments - netotherNT$2.30B––
Others - netotherNT$484M––
Total non-operating income and expensesotherNT$4.57B––
Income before taxotherNT$25.7B––
Income tax expenseotherNT$4.17B––
Income from operations and before non-controlling interestsotherNT$21.53B––
Non-controlling interestsotherNT$460M––
Net income attributable to shareholders of the parentotherNT$21.07B––
Earnings per share – BasicotherNT$4.80––
Earnings per share – DilutedotherNT$4.61––
Earnings per equivalent ADS – BasicotherUS$0.304––
Earnings per equivalent ADS – DilutedotherUS$0.292––
EBITDAotherNT$45.78B––
Net cash generated from operating activitiesotherNT$47.01B––
Net payments for property, plant and equipmentotherNT$79.85B––
Net cash used in investing activitiesotherNT$83.08B––
Net cash generated from financing activitiesotherNT$39.15B––
Cash and cash equivalents at the end of periodotherNT$91.29B––

Segments

SegmentRevenueq/qy/y
PackagingRepresented approximately 52% of total net revenues for the quarter.NT$99.39B––
TestingRepresented approximately 13% of total net revenues for the quarter.NT$23.66B––
EMSRepresented approximately 34% of total net revenues for the quarter.NT$65.41B––
OthersRepresented approximately 1% of total net revenues for the quarter.NT$2.60B––
ATMGross margin increased by 1.3 percentage points to 27.3% in 2Q26 from 26.0% in 1Q26; computing represented 30% of ATM revenues, compared to 27% in 1Q26.NT$126.1Bup by 12.2%up by 36.3%
EMS operationsGross margin decreased by 0.6 percentage points to 8.9% in 2Q26 from 9.5% in 1Q26; communication represented 30% of EMS revenues, compared to 25% in 1Q26.NT$65.79Bup by 6.3%up by 11.9%

What drove it

  • ATM net revenues were NT$126,148 million, up by 36.3% year-over-year and up by 12.2% sequentially.
  • ATM gross margin was 27.3% and ATM operating margin was 15.7% in 2Q26, compared to 26.0% and 14.1%, respectively, in 1Q26.
  • Computing represented 30% of ATM revenues in 2Q26, compared to 27% in 1Q26.
  • Net gain on foreign exchange hedging activities was NT$3,637 million.
  • Net gain on equity-method investments was NT$2,298 million.
  • Total non-operating income for the quarter was NT$4,566 million.

Concerns

  • EMS gross margin decreased by 0.6 percentage points to 8.9% in 2Q26 from 9.5% in 1Q26.
  • EMS operating margin was 2.4% in 2Q26, compared to 3.0% in 1Q26.
  • Net debt to equity ratio was 0.47 as of June 30, 2026, compared to 0.40 as of March 31, 2026.
  • The five largest ATM customers together accounted for approximately 44% of total net revenues in 2Q26, and one customer accounted for more than 10% of total net revenues.

What to watch

  • ATM gross margin and operating margin after reaching 27.3% and 15.7%, respectively, in 2Q26.
  • EMS profitability after gross margin declined to 8.9% and operating margin declined to 2.4% in 2Q26.
  • Equipment capital expenditures, which totaled US$1,695 million in 2Q26.
  • Cash flow and borrowing activity, including NT$79,849 million of net payments for property, plant and equipment and NT$39,864 million of total net proceeds from borrowings and bonds in 2Q26.
  • Customer concentration, including the top 10 ATM customers contributing 60% of total net revenues in 2Q26.

Balance sheet and cash flow

  • Cash and cash equivalents were NT$91,292 million as of June 30, 2026, compared to NT$87,811 million as of March 31, 2026.
  • Total assets were NT$1,071,334 million as of June 30, 2026, compared to NT$957,777 million as of March 31, 2026.
  • Short-term borrowings were NT$60,063 million as of June 30, 2026, compared to NT$49,724 million as of March 31, 2026.
  • Bonds payable were NT$14,985 million as of June 30, 2026, compared to NT$1,999 million as of March 31, 2026.
  • Long-term borrowings were NT$209,603 million as of June 30, 2026, compared to NT$199,142 million as of March 31, 2026.
  • Current ratio was 1.07 and net debt to equity ratio was 0.47 as of June 30, 2026.
  • Total unused credit lines amounted to NT$396,197 million as of June 30, 2026.
  • Equipment capital expenditures in 2Q26 totaled US$1,695 million, including US$840 million in packaging operations and US$804 million in testing operations.
  • Net cash generated from operating activities was NT$47,014 million; net cash used in investing activities was NT$83,084 million; and net cash generated from financing activities was NT$39,154 million.

Analysis

ASE Technology reported an unaudited Taiwan-IFRS second quarter with broad sequential and year-over-year growth. Consolidated net revenues were NT$191,064 million, up by 26.7% year-over-year and up by 10.0% sequentially. Gross profit was NT$40,150 million and operating income was NT$21,134 million, while gross margin increased by 1 percentage point to 21.0% and operating margin reached 11.1%, compared to 10.1% in 1Q26.

ATM was the principal growth and profitability contributor. ATM net revenues were NT$126,148 million, up by 36.3% year-over-year and up by 12.2% sequentially. Its gross margin increased by 1.3 percentage points to 27.3% and its operating margin was 15.7%, compared to 14.1% in 1Q26. Within ATM revenue mix, computing represented 30%, compared to 27% in 1Q26, while communication represented 41%, compared to 43% in 1Q26.

EMS net revenues were NT$65,789 million, up by 11.9% year-over-year and up by 6.3% sequentially, but profitability moved lower. EMS gross margin decreased by 0.6 percentage points to 8.9% from 9.5%, and operating margin was 2.4% compared to 3.0% in 1Q26. The contrast between ATM margin expansion and EMS margin contraction is the key mix and execution feature of the period.

Net income attributable to shareholders of the parent was NT$21,068 million, compared to NT$7,521 million in 2Q25 and NT$14,132 million in 1Q26. Non-operating income and expenses totaled NT$4,566 million, including NT$2,899 million of gain on valuation of financial assets and liabilities - net and NT$2,298 million of gain on equity-method investments - net. Basic earnings per share were NT$4.80 and diluted earnings per share were NT$4.61.

Investment outlays were substantial. Equipment capital expenditures totaled US$1,695 million, with US$840 million used in packaging operations and US$804 million in testing operations. Net cash generated from operating activities was NT$47,014 million, while net payments for property, plant and equipment were NT$79,849 million and total net proceeds from borrowings and bonds were NT$39,864 million. Cash and cash equivalents ended at NT$91,292 million, and net debt to equity ratio was 0.47. The release did not provide forward guidance.

Not in the filing

stated, not guessed
  • Forward revenue guidance
  • Forward gross-margin guidance
  • Forward operating-expense guidance
  • Forward tax-rate guidance
  • Other forward guidance
  • Prior-period outlook for comparison
  • Share repurchases
  • Dividends
  • Free cash flow
  • Explicit total debt line item
  • Named executive earnings commentary or executive quotes

Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.

Read our full coverage of this filing →

Questions about ASX earnings dates

When is ASE Technology Holding's next earnings date?
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