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

AMS:ASM • NL0000334118

676 EUR
-0.8 (-0.12%)
Last: Mar 9, 2026, 05:36 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

5

ASM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 66 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 is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. ASM.AS Profitability Analysis

1.1 Basic Checks

  • ASM had positive earnings in the past year.
  • ASM had a positive operating cash flow in the past year.
  • ASM had positive earnings in 4 of the past 5 years.
  • 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

  • Looking at the Return On Assets, with a value of 14.94%, ASM belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
  • ASM has a better Return On Equity (20.42%) than 72.73% of its industry peers.
  • With an excellent Return On Invested Capital value of 20.12%, ASM belongs to the best of the industry, outperforming 84.85% of the companies in the same industry.
  • ASM had an Average Return On Invested Capital over the past 3 years of 16.63%. This 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 Profit Margin of 23.87%. This is in the better half of the industry: ASM outperforms 74.24% of its industry peers.
  • ASM's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 30.26%, ASM is in the better half of the industry, outperforming 78.79% of the companies in the same industry.
  • ASM's Operating Margin has improved in the last couple of years.
  • ASM has a better Gross Margin (51.86%) than 60.61% 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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. ASM.AS Health Analysis

2.1 Basic Checks

  • ASM has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • There is no outstanding debt for ASM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and 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

  • 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's Debt to FCF ratio of 0.08 is amongst the best of the industry. ASM outperforms 93.94% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that ASM is not too dependend on debt financing.
  • The Debt to Equity ratio of ASM (0.01) is better than 90.91% 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

  • 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 has a worse Current ratio (2.16) than 62.12% of its industry peers.
  • A Quick Ratio of 1.68 indicates that ASM should not have too much problems paying its short term obligations.
  • ASM's Quick ratio of 1.68 is in line compared to the rest of the industry. ASM outperforms 48.48% of 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.
  • The Earnings Per Share has been growing by 20.00% on average over the past years. This is a very strong growth
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.
  • Based on estimates for the next years, ASM will show a quite strong growth in Revenue. The Revenue will grow by 14.05% on average per year.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

2

4. ASM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 44.98, the valuation of ASM can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as ASM.
  • ASM is valuated expensively when we compare the Price/Earnings ratio to 26.29, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 38.31 indicates a quite expensive valuation of ASM.
  • Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than 66.67% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.60. ASM is valued rather expensively when compared to this.
Industry RankSector Rank
PE 44.98
Fwd PE 38.31
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

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASM.
  • 66.67% of the companies in the same industry are more expensive than ASM, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 44.74
EV/EBITDA 27.1
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.
  • ASM's earnings are expected to grow with 18.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.59
PEG (5Y)2.25
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

  • 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 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 (3/9/2026, 5:36:15 PM)

676

-0.8 (-0.12%)

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 Cap33.35B
Revenue(TTM)N/A
Net Income(TTM)783.70M
Analysts76.92
Price Target759.95 (12.42%)
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 44.98
Fwd PE 38.31
P/S 10.15
P/FCF 44.74
P/OCF 28.7
P/B 8.69
P/tB 12.72
EV/EBITDA 27.1
EPS(TTM)15.03
EY2.22%
EPS(NY)17.64
Fwd EY2.61%
FCF(TTM)15.11
FCFY2.24%
OCF(TTM)23.56
OCFY3.48%
SpS66.57
BVpS77.8
TBVpS53.13
PEG (NY)2.59
PEG (5Y)2.25
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 5 / 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 44.98 and the Price/Book (PB) ratio is 8.69.


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%.