ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis
AMS:ASM - Euronext Amsterdam - NL0000334118 - Common Stock - Currency: EUR
We assign a fundamental rating of 6 out of 10 to ASM. ASM was compared to 56 industry peers in the Semiconductors & Semiconductor Equipment industry. ASM has an excellent financial health rating, but there are some minor concerns on its profitability. While showing a medium growth rate, ASM is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year ASM was profitable.
ASM had a positive operating cash flow in the past year.
In the past 5 years ASM has always been profitable.
In the past 5 years ASM always reported a positive cash flow from operatings.
1.2 Ratios
ASM has a Return On Assets (12.09%) which is comparable to the rest of the industry.
With a Return On Equity value of 16.20%, ASM perfoms like the industry average, outperforming 53.57% of the companies in the same industry.
ASM has a Return On Invested Capital of 14.28%. This is comparable to the rest of the industry: ASM outperforms 57.14% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ASM is in line with the industry average of 16.97%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.09% | ||
| ROE | 16.2% | ||
| ROIC | 14.28% |
ROA(3y)15.47%
ROA(5y)14.87%
ROE(3y)19.84%
ROE(5y)18.6%
ROIC(3y)16.75%
ROIC(5y)14.96%
1.3 Margins
Looking at the Profit Margin, with a value of 21.25%, ASM is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
ASM's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 24.86%, ASM is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
In the last couple of years the Operating Margin of ASM has grown nicely.
With a decent Gross Margin value of 49.53%, ASM is doing good in the industry, outperforming 66.07% of the companies in the same industry.
In the last couple of years the Gross Margin of ASM has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.86% | ||
| PM (TTM) | 21.25% | ||
| GM | 49.53% |
OM growth 3Y-0.64%
OM growth 5Y10.14%
PM growth 3Y9.93%
PM growth 5Y8.25%
GM growth 3Y0.93%
GM growth 5Y3.39%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASM is creating some value.
Compared to 1 year ago, ASM has less shares outstanding
Compared to 5 years ago, ASM has less shares outstanding
The debt/assets ratio for ASM is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 16.42 indicates that ASM is not in any danger for bankruptcy at the moment.
The Altman-Z score of ASM (16.42) is better than 92.86% of its industry peers.
The Debt to FCF ratio of ASM is 0.05, which is an excellent value as it means it would take ASM, only 0.05 years of fcf income to pay off all of its debts.
ASM's Debt to FCF ratio of 0.05 is amongst the best of the industry. ASM outperforms 100.00% of its industry peers.
A Debt/Equity ratio of 0.01 indicates that ASM is not too dependend on debt financing.
ASM has a better Debt to Equity ratio (0.01) than 98.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.05 | ||
| Altman-Z | 16.42 |
ROIC/WACC1.23
WACC11.62%
2.3 Liquidity
ASM has a Current Ratio of 2.30. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
ASM has a Current ratio of 2.30. This is comparable to the rest of the industry: ASM outperforms 53.57% of its industry peers.
ASM has a Quick Ratio of 1.62. This is a normal value and indicates that ASM is financially healthy and should not expect problems in meeting its short term obligations.
ASM has a Quick ratio (1.62) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.3 | ||
| Quick Ratio | 1.62 |
3. Growth
3.1 Past
ASM shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.29%.
The Earnings Per Share has been growing by 29.83% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 1.12% in the past year.
Measured over the past years, ASM shows a very strong growth in Revenue. The Revenue has been growing by 26.35% on average per year.
EPS 1Y (TTM)-7.29%
EPS 3Y24.91%
EPS 5Y29.83%
EPS Q2Q%-3.56%
Revenue 1Y (TTM)1.12%
Revenue growth 3Y25.64%
Revenue growth 5Y26.35%
Sales Q2Q%25.12%
3.2 Future
The Earnings Per Share is expected to grow by 18.74% on average over the next years. This is quite good.
ASM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.78% yearly.
EPS Next Y13.89%
EPS Next 2Y22.58%
EPS Next 3Y22.82%
EPS Next 5Y18.74%
Revenue Next Year10.34%
Revenue Next 2Y16.12%
Revenue Next 3Y16.69%
Revenue Next 5Y14.78%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 47.03, the valuation of ASM can be described as expensive.
Based on the Price/Earnings ratio, ASM is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 28.58, ASM is valued quite expensively.
A Price/Forward Earnings ratio of 31.09 indicates a quite expensive valuation of ASM.
Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than 67.86% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 95.03, ASM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.03 | ||
| Fwd PE | 31.09 |
4.2 Price Multiples
69.64% of the companies in the same industry are cheaper than ASM, based on the Enterprise Value to EBITDA ratio.
ASM's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 73.58 | ||
| EV/EBITDA | 32.01 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of ASM may justify a higher PE ratio.
A more expensive valuation may be justified as ASM's earnings are expected to grow with 22.82% in the coming years.
PEG (NY)3.39
PEG (5Y)1.58
EPS Next 2Y22.58%
EPS Next 3Y22.82%
5. Dividend
5.1 Amount
ASM has a yearly dividend return of 0.50%, which is pretty low.
ASM's Dividend Yield is comparable with the industry average which is at 1.49.
Compared to an average S&P500 Dividend Yield of 2.28, ASM's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.5% |
5.2 History
The dividend of ASM is nicely growing with an annual growth rate of 24.79%!
Dividend Growth(5Y)24.79%
Div Incr Years1
Div Non Decr Years4
5.3 Sustainability
ASM pays out 24.52% of its income as dividend. This is a sustainable payout ratio.
The dividend of ASM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP24.52%
EPS Next 2Y22.58%
EPS Next 3Y22.82%
ASM INTERNATIONAL NV
AMS:ASM (2/5/2025, 7:00:00 PM)
549.8
+0.4 (+0.07%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners58.9%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap27.12B
Analysts76.92
Price Target705.15 (28.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.5% |
Yearly Dividend2.5
Dividend Growth(5Y)24.79%
DP24.52%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.46%
Min EPS beat(2)-3.35%
Max EPS beat(2)28.27%
EPS beat(4)2
Avg EPS beat(4)1.9%
Min EPS beat(4)-25.53%
Max EPS beat(4)28.27%
EPS beat(8)3
Avg EPS beat(8)0.08%
EPS beat(12)6
Avg EPS beat(12)3.49%
EPS beat(16)9
Avg EPS beat(16)5.39%
Revenue beat(2)1
Avg Revenue beat(2)0.73%
Min Revenue beat(2)-0.58%
Max Revenue beat(2)2.03%
Revenue beat(4)3
Avg Revenue beat(4)0.96%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)2.36%
Revenue beat(8)5
Avg Revenue beat(8)0.8%
Revenue beat(12)6
Avg Revenue beat(12)0.55%
Revenue beat(16)8
Avg Revenue beat(16)0.43%
PT rev (1m)1.2%
PT rev (3m)-2.34%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-3.07%
EPS NY rev (3m)-3.07%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.37%
Revenue NY rev (3m)0.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.03 | ||
| Fwd PE | 31.09 | ||
| P/S | 10.43 | ||
| P/FCF | 73.58 | ||
| P/OCF | 38.17 | ||
| P/B | 7.95 | ||
| P/tB | 11.69 | ||
| EV/EBITDA | 32.01 |
EPS(TTM)11.69
EY2.13%
EPS(NY)17.68
Fwd EY3.22%
FCF(TTM)7.47
FCFY1.36%
OCF(TTM)14.4
OCFY2.62%
SpS52.71
BVpS69.13
TBVpS47.02
PEG (NY)3.39
PEG (5Y)1.58
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.09% | ||
| ROE | 16.2% | ||
| ROCE | 17.43% | ||
| ROIC | 14.28% | ||
| ROICexc | 17.25% | ||
| ROICexgc | 26.75% | ||
| OM | 24.86% | ||
| PM (TTM) | 21.25% | ||
| GM | 49.53% | ||
| FCFM | 14.17% |
ROA(3y)15.47%
ROA(5y)14.87%
ROE(3y)19.84%
ROE(5y)18.6%
ROIC(3y)16.75%
ROIC(5y)14.96%
ROICexc(3y)20.81%
ROICexc(5y)19%
ROICexgc(3y)30.06%
ROICexgc(5y)25.7%
ROCE(3y)20.45%
ROCE(5y)18.26%
ROICexcg growth 3Y9.55%
ROICexcg growth 5Y28.11%
ROICexc growth 3Y-0.25%
ROICexc growth 5Y20.16%
OM growth 3Y-0.64%
OM growth 5Y10.14%
PM growth 3Y9.93%
PM growth 5Y8.25%
GM growth 3Y0.93%
GM growth 5Y3.39%
F-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.05 | ||
| Debt/EBITDA | 0.02 | ||
| Cap/Depr | 188.97% | ||
| Cap/Sales | 13.15% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 85.88% | ||
| Profit Quality | 66.7% | ||
| Current Ratio | 2.3 | ||
| Quick Ratio | 1.62 | ||
| Altman-Z | 16.42 |
F-Score7
WACC11.62%
ROIC/WACC1.23
Cap/Depr(3y)170%
Cap/Depr(5y)166.98%
Cap/Sales(3y)9.92%
Cap/Sales(5y)10.38%
Profit Quality(3y)62.14%
Profit Quality(5y)67.36%
High Growth Momentum
Growth
EPS 1Y (TTM)-7.29%
EPS 3Y24.91%
EPS 5Y29.83%
EPS Q2Q%-3.56%
EPS Next Y13.89%
EPS Next 2Y22.58%
EPS Next 3Y22.82%
EPS Next 5Y18.74%
Revenue 1Y (TTM)1.12%
Revenue growth 3Y25.64%
Revenue growth 5Y26.35%
Sales Q2Q%25.12%
Revenue Next Year10.34%
Revenue Next 2Y16.12%
Revenue Next 3Y16.69%
Revenue Next 5Y14.78%
EBIT growth 1Y-9.82%
EBIT growth 3Y24.84%
EBIT growth 5Y39.16%
EBIT Next Year41.27%
EBIT Next 3Y29.2%
EBIT Next 5Y22.65%
FCF growth 1Y32.53%
FCF growth 3Y60.28%
FCF growth 5Y85.57%
OCF growth 1Y51.73%
OCF growth 3Y40.67%
OCF growth 5Y40%