ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:ASM • NL0000334118

683.8 EUR
+16.6 (+2.49%)
Last: Feb 6, 2026, 05:36 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to ASM. ASM was compared to 63 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASM has a great profitability rating, there are some minor concerns on its financial health. ASM is valued quite expensively, but it does show have an excellent growth rating. These ratings would make ASM suitable for growth investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year ASM was profitable.
  • In the past year ASM had a positive cash flow from operations.
  • Each year in the past 5 years ASM has been profitable.
  • ASM had a positive operating cash flow in each of the past 5 years.
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

  • Looking at the Return On Assets, with a value of 14.94%, ASM belongs to the top of the industry, outperforming 80.95% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 20.42%, ASM is in the better half of the industry, outperforming 69.84% of the companies in the same industry.
  • ASM has a Return On Invested Capital of 20.12%. This is in the better half of the industry: ASM outperforms 79.37% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ASM is in line with the industry average of 15.01%.
  • 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 66.67% of its industry peers.
  • In the last couple of years the Profit Margin of ASM has declined.
  • The Operating Margin of ASM (30.26%) is better than 77.78% of its industry peers.
  • In the last couple of years the Operating Margin of ASM has grown nicely.
  • The Gross Margin of ASM (51.86%) is better than 63.49% of its industry peers.
  • 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

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

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 less shares outstanding than it did 1 year ago.
  • ASM has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ASM has an improved debt to assets ratio.
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.
  • ASM has a Debt to FCF ratio of 0.08. This is amongst the best in the industry. ASM outperforms 96.83% of its industry peers.
  • ASM has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of ASM (0.01) is better than 93.65% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.08
Altman-Z N/A
ROIC/WACC1.86
WACC10.79%
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

  • ASM has a Current Ratio of 2.16. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
  • ASM's Current ratio of 2.16 is on the low side compared to the rest of the industry. ASM is outperformed by 61.90% 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.
  • With a Quick ratio value of 1.68, ASM perfoms like the industry average, outperforming 53.97% of the companies in the same industry.
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

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

8

3. Growth

3.1 Past

  • ASM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 39.01%, which is quite impressive.
  • Measured over the past years, ASM shows a very strong growth in Earnings Per Share. The EPS has been growing by 22.75% on average per year.
  • Looking at the last year, ASM shows a quite strong growth in Revenue. The Revenue has grown by 19.12% in the last year.
  • ASM shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.13% yearly.
EPS 1Y (TTM)39.01%
EPS 3Y11.54%
EPS 5Y22.75%
EPS Q2Q%54.24%
Revenue 1Y (TTM)19.12%
Revenue growth 3Y19.24%
Revenue growth 5Y21.13%
Sales Q2Q%2.75%

3.2 Future

  • Based on estimates for the next years, ASM will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.39% on average per year.
  • ASM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.26% yearly.
EPS Next Y3.7%
EPS Next 2Y7.36%
EPS Next 3Y13.69%
EPS Next 5Y13.39%
Revenue Next Year6.42%
Revenue Next 2Y7.43%
Revenue Next 3Y10.88%
Revenue Next 5Y12.26%

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.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past 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

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2

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 42.08 indicates a quite expensive valuation of ASM.
  • Compared to the rest of the industry, the Price/Earnings ratio of ASM is on the same level as its industry peers.
  • ASM is valuated expensively when we compare the Price/Earnings ratio to 27.67, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 41.34, ASM can be considered very expensive at the moment.
  • 66.67% of the companies in the same industry are cheaper than ASM, based on the Price/Forward Earnings ratio.
  • ASM is valuated expensively when we compare the Price/Forward Earnings ratio to 27.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 42.08
Fwd PE 41.34
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 ratio is in line with 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 69.84% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 45.25
EV/EBITDA 26.71
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 a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as ASM's earnings are expected to grow with 13.69% in the coming years.
PEG (NY)11.36
PEG (5Y)1.85
EPS Next 2Y7.36%
EPS Next 3Y13.69%

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

4

5. Dividend

5.1 Amount

  • ASM has a yearly dividend return of 0.43%, which is pretty low.
  • ASM's Dividend Yield is comparable with the industry average which is at 0.78.
  • With a Dividend Yield of 0.43, ASM pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.43%

5.2 History

  • On average, the dividend of ASM grows each year by 6.39%, which is quite nice.
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 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 18.80% of the earnings are spent on dividend by ASM. This is a low number and sustainable payout ratio.
  • ASM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP18.8%
EPS Next 2Y7.36%
EPS Next 3Y13.69%
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

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ASM INTERNATIONAL NV

AMS:ASM (2/6/2026, 5:36:15 PM)

683.8

+16.6 (+2.49%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)10-28
Earnings (Next)02-23
Inst Owners60.72%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap33.73B
Revenue(TTM)3.28B
Net Income(TTM)783.70M
Analysts78.4
Price Target647.96 (-5.24%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.43%
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)2.79%
PT rev (3m)8.35%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-7.71%
EPS NY rev (1m)0.78%
EPS NY rev (3m)-0.44%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.15%
Valuation
Industry RankSector Rank
PE 42.08
Fwd PE 41.34
P/S 10.27
P/FCF 45.25
P/OCF 29.03
P/B 8.79
P/tB 12.87
EV/EBITDA 26.71
EPS(TTM)16.25
EY2.38%
EPS(NY)16.54
Fwd EY2.42%
FCF(TTM)15.11
FCFY2.21%
OCF(TTM)23.56
OCFY3.45%
SpS66.57
BVpS77.8
TBVpS53.13
PEG (NY)11.36
PEG (5Y)1.85
Graham Number168.66
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
WACC10.79%
ROIC/WACC1.86
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)39.01%
EPS 3Y11.54%
EPS 5Y22.75%
EPS Q2Q%54.24%
EPS Next Y3.7%
EPS Next 2Y7.36%
EPS Next 3Y13.69%
EPS Next 5Y13.39%
Revenue 1Y (TTM)19.12%
Revenue growth 3Y19.24%
Revenue growth 5Y21.13%
Sales Q2Q%2.75%
Revenue Next Year6.42%
Revenue Next 2Y7.43%
Revenue Next 3Y10.88%
Revenue Next 5Y12.26%
EBIT growth 1Y40.43%
EBIT growth 3Y17.57%
EBIT growth 5Y28.8%
EBIT Next Year43.93%
EBIT Next 3Y22.06%
EBIT Next 5Y20.69%
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 2 / 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 7 / 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 42.08 and the Price/Book (PB) ratio is 8.79.


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%.