ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:ASM • NL0000334118

707.8 EUR
-2 (-0.28%)
Last: Feb 2, 2026, 07:00 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. ASM has an excellent profitability rating, but there are some minor concerns on its financial health. ASM shows excellent growth, but is valued quite expensive already. This makes ASM very considerable for growth investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • ASM had positive earnings in the past year.
  • 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.
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

  • With an excellent Return On Assets value of 14.94%, ASM belongs to the best of the industry, outperforming 80.95% of the companies in the same industry.
  • ASM has a better Return On Equity (20.42%) than 69.84% of its industry peers.
  • ASM has a better Return On Invested Capital (20.12%) than 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.
  • ASM has a Operating Margin of 30.26%. This is in the better half of the industry: ASM outperforms 77.78% of its industry peers.
  • ASM's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 51.86%, ASM is in the better half of the industry, outperforming 63.49% 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

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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.
  • Compared to 1 year ago, ASM has less shares outstanding
  • Compared to 5 years ago, ASM has more shares outstanding
  • The debt/assets ratio for ASM has been reduced compared to a year ago.
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.
  • Looking at the Debt to FCF ratio, with a value of 0.08, ASM belongs to the top of the industry, outperforming 96.83% of the companies in the same industry.
  • A Debt/Equity ratio of 0.01 indicates that ASM is not too dependend on debt financing.
  • With an excellent Debt to Equity ratio value of 0.01, ASM belongs to the best of the industry, outperforming 93.65% of the companies in the same industry.
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

  • A Current Ratio of 2.16 indicates that ASM has no problem at all paying its short term obligations.
  • With a Current ratio value of 2.16, ASM is not doing good in the industry: 61.90% of the companies in the same industry are doing better.
  • A Quick Ratio of 1.68 indicates that ASM should not have too much problems paying its short term obligations.
  • The Quick ratio of ASM (1.68) is comparable to the rest of the 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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8

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 39.01% over the past year.
  • 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.
  • The Revenue has grown by 19.12% in the past year. This is quite good.
  • 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

  • The Earnings Per Share is expected to grow by 13.39% 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 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.
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

  • The Price/Earnings ratio is 43.56, which means the current valuation is very expensive for ASM.
  • ASM's Price/Earnings is on the same level as the industry average.
  • ASM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 28.41.
  • The Price/Forward Earnings ratio is 42.79, which means the current valuation is very expensive for ASM.
  • Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than the industry average as 69.84% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of ASM to the average of the S&P500 Index (25.64), we can say ASM is valued expensively.
Industry RankSector Rank
PE 43.56
Fwd PE 42.79
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASM.
  • 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 46.84
EV/EBITDA 28.42
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 ASM does not grow enough to justify the current Price/Earnings ratio.
  • 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)11.76
PEG (5Y)1.91
EPS Next 2Y7.36%
EPS Next 3Y13.69%

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4

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.43%, ASM is not a good candidate for dividend investing.
  • ASM's Dividend Yield is comparable with the industry average which is at 0.78.
  • Compared to an average S&P500 Dividend Yield of 1.83, ASM's dividend is way lower than the S&P500 average.
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

  • 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.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 / 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 43.56 and the Price/Book (PB) ratio is 9.1.


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%.