ASM INTERNATIONAL NV (ASM.AS) Fundamental Analysis & Valuation

AMS:ASM • NL0000334118

722.2 EUR
+13.6 (+1.92%)
Last: Mar 11, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ASM.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

ASM gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 66 industry peers in the Semiconductors & Semiconductor Equipment industry. ASM scores excellent on profitability, but there are some minor concerns on its financial health. While showing a medium growth rate, ASM is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

8

1. ASM.AS Profitability Analysis

1.1 Basic Checks

  • In the past year ASM was profitable.
  • ASM had a positive operating cash flow in the past year.
  • Of the past 5 years ASM 4 years were profitable.
  • Of the past 5 years ASM 4 years had a positive operating cash flow.
ASM.AS Yearly Net Income VS EBIT VS OCF VS FCFASM.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

1.2 Ratios

  • ASM's Return On Assets of 14.94% is amongst the best of the industry. ASM outperforms 84.85% of its industry peers.
  • Looking at the Return On Equity, with a value of 20.42%, ASM is in the better half of the industry, outperforming 74.24% of the companies in the same industry.
  • ASM has a better Return On Invested Capital (20.12%) than 86.36% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ASM is above the industry average of 13.69%.
  • The last Return On Invested Capital (20.12%) for ASM is above the 3 year average (16.63%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 14.94%
ROE 20.42%
ROIC 20.12%
ROA(3y)13.82%
ROA(5y)14.5%
ROE(3y)18.59%
ROE(5y)18.64%
ROIC(3y)16.63%
ROIC(5y)16.46%
ASM.AS Yearly ROA, ROE, ROICASM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • ASM has a better Profit Margin (23.87%) than 75.76% of its industry peers.
  • In the last couple of years the Profit Margin of ASM has declined.
  • With an excellent Operating Margin value of 30.26%, ASM belongs to the best of the industry, outperforming 80.30% 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 51.86%, ASM is doing good in the industry, outperforming 62.12% of the companies in the same industry.
  • ASM's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 30.26%
PM (TTM) 23.87%
GM 51.86%
OM growth 3Y-1.4%
OM growth 5Y6.33%
PM growth 3Y-6.49%
PM growth 5Y-4.38%
GM growth 3Y1.81%
GM growth 5Y3.46%
ASM.AS Yearly Profit, Operating, Gross MarginsASM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. ASM.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ASM is creating value.
  • ASM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ASM.AS Yearly Shares OutstandingASM.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
ASM.AS Yearly Total Debt VS Total AssetsASM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

  • The Debt to FCF ratio of ASM is 0.08, which is an excellent value as it means it would take ASM, only 0.08 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.08, ASM belongs to the top of the industry, outperforming 95.45% of the companies in the same industry.
  • 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 92.42% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.08
Altman-Z N/A
ROIC/WACC1.83
WACC11.01%
ASM.AS Yearly LT Debt VS Equity VS FCFASM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 2.16 indicates that ASM has no problem at all paying its short term obligations.
  • ASM has a worse Current ratio (2.16) than 60.61% of its industry peers.
  • ASM has a Quick Ratio of 1.68. 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 (1.68) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 2.16
Quick Ratio 1.68
ASM.AS Yearly Current Assets VS Current LiabilitesASM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. ASM.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 4.73% over the past year.
  • ASM shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.00% yearly.
EPS 1Y (TTM)4.73%
EPS 3Y5.54%
EPS 5Y20%
EPS Q2Q%-26.05%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.3%

3.2 Future

  • The Earnings Per Share is expected to grow by 19.38% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 14.05% on average over the next years. This is quite good.
EPS Next Y17.4%
EPS Next 2Y21.7%
EPS Next 3Y18.58%
EPS Next 5Y19.38%
Revenue Next Year11.62%
Revenue Next 2Y15.5%
Revenue Next 3Y14.81%
Revenue Next 5Y14.05%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
ASM.AS Yearly Revenue VS EstimatesASM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B 8B
ASM.AS Yearly EPS VS EstimatesASM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 10 20 30 40

More info and screens

Find the best growth stocksShow best growing peers

3

4. ASM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 48.05, ASM can be considered very expensive at the moment.
  • ASM's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.15. ASM is valued rather expensively when compared to this.
  • ASM is valuated quite expensively with a Price/Forward Earnings ratio of 40.93.
  • Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than 69.70% of the companies in the same industry.
  • ASM is valuated expensively when we compare the Price/Forward Earnings ratio to 24.27, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 48.05
Fwd PE 40.93
ASM.AS Price Earnings VS Forward Price EarningsASM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • ASM's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASM indicates a somewhat cheap valuation: ASM is cheaper than 63.64% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 47.79
EV/EBITDA 28.37
ASM.AS Per share dataASM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • ASM has an outstanding profitability rating, which may justify a higher PE ratio.
  • ASM's earnings are expected to grow with 18.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.76
PEG (5Y)2.4
EPS Next 2Y21.7%
EPS Next 3Y18.58%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. ASM.AS Dividend Analysis

5.1 Amount

  • ASM has a yearly dividend return of 0.45%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.68, ASM has a dividend in line with its industry peers.
  • With a Dividend Yield of 0.45, ASM pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.45%

5.2 History

  • The dividend of ASM is nicely growing with an annual growth rate of 6.39%!
Dividend Growth(5Y)6.39%
Div Incr Years2
Div Non Decr Years5
ASM.AS Yearly Dividends per shareASM.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 18.80% of the earnings are spent on dividend by ASM. This is a low number and sustainable payout ratio.
  • The dividend of ASM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP18.8%
EPS Next 2Y21.7%
EPS Next 3Y18.58%
ASM.AS Yearly Income VS Free CF VS DividendASM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
ASM.AS Dividend Payout.ASM.AS Dividend Payout, showing the Payout Ratio.ASM.AS Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

ASM.AS Fundamentals: All Metrics, Ratios and Statistics

ASM INTERNATIONAL NV

AMS:ASM (3/11/2026, 7:00:00 PM)

722.2

+13.6 (+1.92%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)03-03
Earnings (Next)04-21
Inst Owners59.71%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap35.63B
Revenue(TTM)N/A
Net Income(TTM)783.70M
Analysts76.92
Price Target759.95 (5.23%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.45%
Yearly Dividend2.76
Dividend Growth(5Y)6.39%
DP18.8%
Div Incr Years2
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.68%
Min EPS beat(2)-15.47%
Max EPS beat(2)14.11%
EPS beat(4)2
Avg EPS beat(4)6.41%
Min EPS beat(4)-15.47%
Max EPS beat(4)30.35%
EPS beat(8)3
Avg EPS beat(8)0.13%
EPS beat(12)4
Avg EPS beat(12)-1.22%
EPS beat(16)7
Avg EPS beat(16)1.23%
Revenue beat(2)1
Avg Revenue beat(2)-0.33%
Min Revenue beat(2)-1.28%
Max Revenue beat(2)0.62%
Revenue beat(4)2
Avg Revenue beat(4)-0.13%
Min Revenue beat(4)-1.28%
Max Revenue beat(4)0.79%
Revenue beat(8)5
Avg Revenue beat(8)0.18%
Revenue beat(12)7
Avg Revenue beat(12)0.24%
Revenue beat(16)8
Avg Revenue beat(16)0.24%
PT rev (1m)0.71%
PT rev (3m)20.8%
EPS NQ rev (1m)2.68%
EPS NQ rev (3m)12.89%
EPS NY rev (1m)1.91%
EPS NY rev (3m)3.5%
Revenue NQ rev (1m)1.06%
Revenue NQ rev (3m)6.28%
Revenue NY rev (1m)1.34%
Revenue NY rev (3m)0.6%
Valuation
Industry RankSector Rank
PE 48.05
Fwd PE 40.93
P/S 10.85
P/FCF 47.79
P/OCF 30.66
P/B 9.28
P/tB 13.59
EV/EBITDA 28.37
EPS(TTM)15.03
EY2.08%
EPS(NY)17.64
Fwd EY2.44%
FCF(TTM)15.11
FCFY2.09%
OCF(TTM)23.56
OCFY3.26%
SpS66.57
BVpS77.8
TBVpS53.13
PEG (NY)2.76
PEG (5Y)2.4
Graham Number162.21
Profitability
Industry RankSector Rank
ROA 14.94%
ROE 20.42%
ROCE 24.27%
ROIC 20.12%
ROICexc 20.12%
ROICexgc 28.63%
OM 30.26%
PM (TTM) 23.87%
GM 51.86%
FCFM 22.7%
ROA(3y)13.82%
ROA(5y)14.5%
ROE(3y)18.59%
ROE(5y)18.64%
ROIC(3y)16.63%
ROIC(5y)16.46%
ROICexc(3y)20.48%
ROICexc(5y)20.83%
ROICexgc(3y)32.62%
ROICexgc(5y)29.73%
ROCE(3y)20.06%
ROCE(5y)19.85%
ROICexgc growth 3Y7.29%
ROICexgc growth 5Y16.64%
ROICexc growth 3Y-2.54%
ROICexc growth 5Y9.64%
OM growth 3Y-1.4%
OM growth 5Y6.33%
PM growth 3Y-6.49%
PM growth 5Y-4.38%
GM growth 3Y1.81%
GM growth 5Y3.46%
F-Score7
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.08
Debt/EBITDA 0.05
Cap/Depr 173.26%
Cap/Sales 12.69%
Interest Coverage 250
Cash Conversion 94.15%
Profit Quality 95.11%
Current Ratio 2.16
Quick Ratio 1.68
Altman-Z N/A
F-Score7
WACC11.01%
ROIC/WACC1.83
Cap/Depr(3y)177.39%
Cap/Depr(5y)175.83%
Cap/Sales(3y)11.05%
Cap/Sales(5y)10.89%
Profit Quality(3y)72.97%
Profit Quality(5y)59.94%
High Growth Momentum
Growth
EPS 1Y (TTM)4.73%
EPS 3Y5.54%
EPS 5Y20%
EPS Q2Q%-26.05%
EPS Next Y17.4%
EPS Next 2Y21.7%
EPS Next 3Y18.58%
EPS Next 5Y19.38%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.3%
Revenue Next Year11.62%
Revenue Next 2Y15.5%
Revenue Next 3Y14.81%
Revenue Next 5Y14.05%
EBIT growth 1Y40.43%
EBIT growth 3Y17.57%
EBIT growth 5Y28.8%
EBIT Next Year46.57%
EBIT Next 3Y25.05%
EBIT Next 5Y20.67%
FCF growth 1Y104.96%
FCF growth 3Y33.54%
FCF growth 5Y7.13%
OCF growth 1Y72.38%
OCF growth 3Y33.11%
OCF growth 5Y12.92%

ASM INTERNATIONAL NV / ASM.AS FAQ

Can you provide the ChartMill fundamental rating for ASM INTERNATIONAL NV?

ChartMill assigns a fundamental rating of 6 / 10 to ASM.AS.


Can you provide the valuation status for ASM INTERNATIONAL NV?

ChartMill assigns a valuation rating of 3 / 10 to ASM INTERNATIONAL NV (ASM.AS). This can be considered as Overvalued.


Can you provide the profitability details for ASM INTERNATIONAL NV?

ASM INTERNATIONAL NV (ASM.AS) has a profitability rating of 8 / 10.


What is the valuation of ASM INTERNATIONAL NV based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ASM INTERNATIONAL NV (ASM.AS) is 48.05 and the Price/Book (PB) ratio is 9.28.


Is the dividend of ASM INTERNATIONAL NV sustainable?

The dividend rating of ASM INTERNATIONAL NV (ASM.AS) is 4 / 10 and the dividend payout ratio is 18.8%.