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Chip testing and packaging

The 13 companies in this industry listed on the NYSE and Nasdaq are worth $199 bn combined; the largest are ASE Technology Holding Co., Ltd. (ASX), Teradyne (TER) and Onto Innovation (ONTO). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Comfortable leader
13 companies value 199 bn revenue 38 bn margin 9.6% free cash flow 0.7 bn avg. score 4.2
ASX holds 45.3% of the group's value, 1.7x the runner-up · TER leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 ASX ASE Technology Holding Co., Ltd.
Taiwan · score 2.5
 45% 90 bn 21 bn 6.4% -0.7 bn -0.8% — Semiconductor packaging and testing, from Taiwan · Taiwan — revenue of $20.6bn
2 TER Teradyne
United States · score 6.6
 26% 53 bn 4.5 bn 25.8% 0.8 bn 1.5% 0.1% Semiconductor test equipment and collaborative robots · Leader in semiconductor test equipment
3 ONTO Onto Innovation
United States · score 4.3
 6% 11 bn 1.1 bn 11.8% 0.3 bn 2.3% — Metrology and inspection for semiconductor manufacturing · Inspection and metrology for advanced packaging of AI chips
4 AMKR Amkor Technology
United States · score 2.8
 5% 10 bn 7.5 bn 7.4% -0.2 bn -1.7% 0.8% Contract semiconductor packaging and testing · Largest Western outsourced chip packaging and test company
5 NVMI NOVA LTD.
Israel · score 5.8
 5% 9.3 bn 0.9 bn 29.4% 0.2 bn 2.3% — Integrated process control for semiconductor manufacturing, since 1993 · Israel — revenue of $881m
6 FORM FORMFACTOR INC
United States · score 6.2
 4% 8.6 bn 0.9 bn 12.8% 0.1 bn 1.6% — Electrical and optical test and measurement for semiconductors · California — revenue of $902m
7 CAMT CAMTEK LTD
Israel · score 5.3
 3% 5.9 bn 0.5 bn 10.2% 0.1 bn 2.2% — Optical inspection and metrology for semiconductors, from Israel · Israel — revenue of $496m
8 KLIC KULICKE & SOFFA INDUSTRIES INC
Singapore · score 4.8
 2% 4.3 bn 0.9 bn 12.2% 0.0 bn 1.0% — Semiconductor packaging and bonding equipment · Singapore — revenue of $950m
9 COHU COHU INC
United States · score 1.9
 1% 2.6 bn 0.5 bn -7.4% 0.0 bn 1.4% — Equipment and services for semiconductor production, founded in 1947 · California — revenue of $523m
10 IMOS CHIPMOS TECHNOLOGIES INC
Taiwan · score 4.3
 1% 2.2 bn 0.8 bn 2.3% 0.0 bn 0.2% 1.3% Packaging and testing of display driver, memory and logic chips in Taiwan · Taiwan — revenue of $763m
11 AEHR AEHR TEST SYSTEMS
United States · score 0.9
 1% 2.1 bn 0.1 bn -14.3% -0.0 bn -0.3% — Test and burn-in for semiconductors, at wafer and package level · California — revenue of $50m
12 INTT INTEST CORP
United States · score 4.8
 0% 0.2 bn 0.1 bn 0.8% 0.0 bn 2.0% — Test and process technology for semiconductors and other industries · New Jersey — revenue of $128m
13 TRT TRIO-TECH INTERNATIONAL
United States · score 3.8
 0% 0.1 bn 0.1 bn -0.1% 0.0 bn 3.2% — Value-added reselling with design, engineering and integration · California — revenue of $63m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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