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ASE Technology Holding CoTPE:3711 +9.90%62 Cyclically Adjusted PS Ratio is 4.00 as of Jul. 31, 2026, which is 231% above its 10-year median of 1.21. GuruFocus rates TPE:3711 with a GF Score™ of 62/100 and a GF Value™ of NT$183.41 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 732 Semiconductors companies, ASE Technology Holding Co ranks worse than 57.1% on this metric.
The historical rank and industry rank for ASE Technology Holding Co's Cyclically Adjusted PS Ratio or its related term are showing as below:
TPE:3711'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.74 Med: 1.21 Max: 4.68
Current: 3.64
During the past years, ASE Technology Holding Co's highest Cyclically Adjusted PS Ratio was 4.68. The lowest was 0.74. And the median was 1.21.
TPE:3711's Cyclically Adjusted PS Ratio is ranked worse than 57.1% of 732
companies
in the Semiconductors industry
Industry Median: 2.855
vs TPE:3711: 3.64
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
ASE Technology Holding Co's adjusted revenue per share data for the three months ended in Jun. 2026 was NT$42.405. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is NT$138.73 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
ASE Technology Holding Co (TPE:3711) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
ASE Technology Holding Co Cyclically Adjusted PS Ratio Related Terms
ASE Technology Holding Co Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for ASE Technology Holding Co's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASE Technology Holding Co Cyclically Adjusted PS Ratio Chart
TPE:3711 vs NVDA, AVGO, MU: Cyclically Adjusted PS Ratio Comparison
For the Semiconductors subindustry, ASE Technology Holding Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ASE Technology Holding Co Cyclically Adjusted PS Ratio vs Semiconductors Industry
For the Semiconductors industry and Technology sector, ASE Technology Holding Co's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where ASE Technology Holding Co's Cyclically Adjusted PS Ratio falls into.
ASE Technology Holding Co Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 4.00 mean?
ASE Technology Holding Co (TPE:3711) has a Cyclically Adjusted PS Ratio of 4.00 as of Jul. 31, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on ASE Technology Holding Co and its competitors. This is 231% above median its historical median of 1.21. Over the past decade, ASE Technology Holding Co's Cyclically Adjusted PS Ratio has ranged from 0.74 to 4.68. According to the industry distribution chart, ASE Technology Holding Co ranks #418 out of 732 companies in the Semiconductors industry, placing it in the top 57.1%.
Is ASE Technology Holding Co's Cyclically Adjusted PS Ratio too high?
ASE Technology Holding Co's current Cyclically Adjusted PS Ratio of 4.00 is 231% above median its 10-year median of 1.21. Over the past 10 years, this metric has ranged from a low of 0.74 to a high of 4.68. The Semiconductors industry median Cyclically Adjusted PS Ratio is 2.86. ASE Technology Holding Co's value of 4.00 is 40.1% above this industry median. Based on the distribution chart, ASE Technology Holding Co ranks #418 out of 732 companies in the Semiconductors industry, which is below the industry midpoint. Overall, ASE Technology Holding Co has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ASE Technology Holding Co's Cyclically Adjusted PS Ratio compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, ASE Technology Holding Co ranks #418 out of 732 companies for Cyclically Adjusted PS Ratio. This places ASE Technology Holding Co in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 2.86. ASE Technology Holding Co's value of 4.00 is 40.1% above this benchmark. Historically, ASE Technology Holding Co's own Cyclically Adjusted PS Ratio has ranged from 0.74 to 4.68 over the past decade. While the company's 10-year median is 1.21 vs. the industry median of 2.86, ASE Technology Holding Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Semiconductors company?
The median Cyclically Adjusted PS Ratio among Semiconductors companies is 2.86, based on 732 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ASE Technology Holding Co's current Cyclically Adjusted PS Ratio of 4.00 is 40.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on ASE Technology Holding Co and its competitors. For the Semiconductors industry, the median Cyclically Adjusted PS Ratio is 2.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASE Technology Holding Co's current Cyclically Adjusted PS Ratio is 4.00, which is 231% above median its own 10-year median of 1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASE Technology Holding Co stock overvalued right now?
Based on GuruFocus' analysis, ASE Technology Holding Co (TPE:3711) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$183.41, compared to a current price of NT$555.00 — trading 202.6% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 4.00, which is 231% above median its 10-year median of 1.21 and 40.1% above the Semiconductors industry median of 2.86. ASE Technology Holding Co's overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For ASE Technology Holding Co (TPE:3711), the current Cyclically Adjusted PS Ratio is 4.00 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ASE Technology Holding Co (TPE:3711) Overvalued in 2026?
Based on GuruFocus' analysis, ASE Technology Holding Co stock appears to be overvalued.
The current stock price of NT$555.00 is trading 202.6% above its estimated GF Value™ of NT$183.41.
GuruFocus considers ASE Technology Holding Co to be Significantly Overvalued.
Key valuation signals for TPE:3711:
Cyclically Adjusted PS Ratio: 4.00 (231% above median its 10-year median of 1.21)
GF Value™: NT$183.41 vs. price of NT$555.00 (202.6% above fair value)
Industry Position: 40.1% above the Semiconductors median (#418 of 732)
No single metric tells the full story. See the TPE:3711 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ASE Technology Holding Co Ltd is a semiconductor assembly and testing firm. The company operates in segments: Packaging, Testing, Electronic Manufacturing Services and others. Of these, Packaging segment contribute the maximum revenue. The packaging segment involves packaging bare semiconductors into completed semiconductors with improved electrical and thermal characteristics. The Testing Segment includes front-end engineering testing, wafer probing, and final testing services. In the EMS segment, the company designs manufactures, and sells electronic components and telecommunication equipment motherboards. The company is based in Taiwan but generates over half its sales from firms in the United States.
62GF Score
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Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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