ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:ASM - NL0000334118 - Common Stock
710.1 EUR
-5.5 (-0.77%)
Overall ASM gets a fundamental rating of 6 out of 10. We evaluated ASM against 69 industry peers in the Semiconductors & Semiconductor Equipment industry. ASM scores excellent on profitability, but there are some minor concerns on its financial health. ASM shows excellent growth, but is valued quite expensive already. With these ratings, ASM could be worth investigating further for growth investing!.
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.
- In the past 5 years ASM has always been profitable.
- Each year in the past 5 years ASM had a positive operating cash flow.
1.2 Ratios
- ASM has a better Return On Assets (14.94%) than 78.26% of its industry peers.
- ASM has a Return On Equity of 20.42%. This is in the better half of the industry: ASM outperforms 68.12% of its industry peers.
- ASM has a better Return On Invested Capital (20.12%) than 79.71% 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 better Profit Margin (23.87%) than 65.22% of its industry peers.
- In the last couple of years the Profit Margin of ASM has declined.
- With a decent Operating Margin value of 30.26%, ASM is doing good in the industry, outperforming 75.36% of the companies in the same industry.
- ASM's Operating Margin has improved in the last couple of years.
- ASM has a Gross Margin (51.86%) which is in line with its industry peers.
- ASM's Gross Margin has improved in the last couple of years.
| 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
- The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ASM is creating value.
- The number of shares outstanding for ASM has been reduced compared to 1 year ago.
- Compared to 5 years ago, ASM has more shares outstanding
- Compared to 1 year ago, ASM has an improved debt to assets ratio.
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 Debt to FCF ratio of 0.08. This is amongst the best in the industry. ASM outperforms 92.75% 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 89.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.08 | ||
| Altman-Z | N/A |
ROIC/WACC1.85
WACC10.89%
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 65.22% 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 50.72% of its industry peers.
| 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.
- ASM shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 22.75% yearly.
- The Revenue has grown by 19.12% in the past year. This is quite good.
- Measured over the past years, ASM shows a very strong growth in Revenue. The Revenue has been growing by 21.13% on average per year.
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.
- The Revenue is expected to grow by 12.26% on average over the next years. This is quite good.
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.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 43.70 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.
- When comparing the Price/Earnings ratio of ASM to the average of the S&P500 Index (28.60), we can say ASM is valued expensively.
- Based on the Price/Forward Earnings ratio of 42.93, the valuation of ASM can be described as expensive.
- Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than the industry average as 71.01% of the companies are valued more cheaply.
- ASM's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 25.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 43.7 | ||
| Fwd PE | 42.93 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASM.
- Based on the Price/Free Cash Flow ratio, ASM is valued a bit cheaper than the industry average as 69.57% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 46.99 | ||
| EV/EBITDA | 28.65 |
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)11.8
PEG (5Y)1.92
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.
- Compared to an average S&P500 Dividend Yield of 1.82, ASM's dividend is way lower than the S&P500 average.
| 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
- 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 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 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 43.7 and the Price/Book (PB) ratio is 9.13.
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%.