ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:ASM - NL0000334118 - Common Stock
711.6 EUR
-1.6 (-0.22%)
We assign a fundamental rating of 6 out of 10 to ASM. ASM was compared to 69 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASM belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. ASM shows excellent growth, but is valued quite expensive already. These ratings would make ASM suitable for growth investing!
1. Profitability
1.1 Basic Checks
- In the past year ASM was profitable.
- ASM had a positive operating cash flow in the past year.
- Each year in the past 5 years ASM has been profitable.
- In the past 5 years ASM always reported a positive cash flow from operatings.
1.2 Ratios
- The Return On Assets of ASM (14.94%) is better than 80.88% 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 70.59% of the companies in the same industry.
- The Return On Invested Capital of ASM (20.12%) is better than 80.88% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for ASM is above the industry average of 14.31%.
- 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 Rank | Sector 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%
1.3 Margins
- ASM has a Profit Margin of 23.87%. This is in the better half of the industry: ASM outperforms 69.12% of its industry peers.
- In the last couple of years the Profit Margin of ASM has declined.
- Looking at the Operating Margin, with a value of 30.26%, ASM is in the better half of the industry, outperforming 79.41% of the companies in the same industry.
- In the last couple of years the Operating Margin of ASM has grown nicely.
- The Gross Margin of ASM (51.86%) is better than 63.24% of its industry peers.
- In the last couple of years the Gross Margin of ASM has grown nicely.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ASM is creating value.
- ASM has less shares outstanding than it did 1 year ago.
- Compared to 5 years ago, ASM has more shares outstanding
- ASM has a better debt/assets ratio than last year.
2.2 Solvency
- ASM has a debt to FCF ratio of 0.08. This is a very positive value and a sign of high solvency as it would only need 0.08 years to pay back of all of its debts.
- ASM has a better Debt to FCF ratio (0.08) than 97.06% 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.
- Looking at the Debt to Equity ratio, with a value of 0.01, ASM belongs to the top of the industry, outperforming 94.12% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.08 | ||
| Altman-Z | N/A |
ROIC/WACC1.96
WACC10.28%
2.3 Liquidity
- A Current Ratio of 2.16 indicates that ASM has no problem at all paying its short term obligations.
- Looking at the Current ratio, with a value of 2.16, ASM is doing worse than 60.29% of the companies in the same industry.
- 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.
- Looking at the Quick ratio, with a value of 1.68, ASM is in line with its industry, outperforming 54.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.16 | ||
| Quick Ratio | 1.68 |
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.
- The Earnings Per Share has been growing by 22.75% on average over the past years. This is a very strong growth
- ASM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.12%.
- The Revenue has been growing by 21.13% on average over the past years. This is a very strong growth!
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
- ASM is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.39% yearly.
- Based on estimates for the next years, ASM will show a quite strong growth in Revenue. The Revenue will grow by 12.26% on average per year.
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
- The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 43.79 indicates a quite expensive valuation of ASM.
- The rest of the industry has a similar Price/Earnings ratio as ASM.
- Compared to an average S&P500 Price/Earnings ratio of 27.21, ASM is valued quite expensively.
- ASM is valuated quite expensively with a Price/Forward Earnings ratio of 43.02.
- Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than the industry average as 66.18% of the companies are valued more cheaply.
- Compared to an average S&P500 Price/Forward Earnings ratio of 25.98, ASM is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 43.79 | ||
| Fwd PE | 43.02 |
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 70.59% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.09 | ||
| EV/EBITDA | 28.49 |
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 excellent profitability rating of ASM may justify a higher PE ratio.
- ASM's earnings are expected to grow with 13.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)11.82
PEG (5Y)1.93
EPS Next 2Y7.36%
EPS Next 3Y13.69%
5. Dividend
5.1 Amount
- ASM has a yearly dividend return of 0.42%, which is pretty low.
- Compared to an average industry Dividend Yield of 0.74, ASM has a dividend in line with its industry peers.
- With a Dividend Yield of 0.42, ASM pays less dividend than the S&P500 average, which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.42% |
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
5.3 Sustainability
- ASM pays out 18.80% of its income as dividend. This is a sustainable payout ratio.
- The dividend of ASM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP18.8%
EPS Next 2Y7.36%
EPS Next 3Y13.69%
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 43.79 and the Price/Book (PB) ratio is 9.15.
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%.