ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:ASM • NL0000334118

698.6 EUR
-9.2 (-1.3%)
Last: Feb 3, 2026, 04:58 PM
Fundamental Rating

6

Taking everything into account, ASM scores 6 out of 10 in our fundamental rating. ASM was compared to 63 industry peers in the Semiconductors & Semiconductor Equipment industry. ASM scores excellent on profitability, but 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

  • 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.
  • Each year in the past 5 years ASM 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

  • The Return On Assets of ASM (14.94%) is better than 79.37% of its industry peers.
  • ASM has a better Return On Equity (20.42%) than 68.25% of its industry peers.
  • ASM has a better Return On Invested Capital (20.12%) than 77.78% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ASM is in line with the industry average of 15.01%.
  • The 3 year average ROIC (16.63%) for ASM is below the current ROIC(20.12%), indicating increased profibility in the last year.
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 65.08% of its industry peers.
  • ASM's Profit Margin has declined in the last couple of years.
  • The Operating Margin of ASM (30.26%) is better than 76.19% of its industry peers.
  • In the last couple of years the Operating Margin of ASM has grown nicely.
  • ASM has a Gross Margin of 51.86%. This is in the better half of the industry: ASM outperforms 61.90% 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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6

2. Health

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.
  • Compared to 1 year ago, ASM has less shares outstanding
  • 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

  • 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 95.24% 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.
  • ASM has a better Debt to Equity ratio (0.01) than 92.06% 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

  • A Current Ratio of 2.16 indicates that ASM has no problem at all paying its short term obligations.
  • ASM has a Current ratio of 2.16. This is in the lower half of the industry: ASM underperforms 63.49% 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 has a Quick ratio of 1.68. This is comparable to the rest of the industry: ASM outperforms 52.38% 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

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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.
  • 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

  • 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

  • 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

  • Based on the Price/Earnings ratio of 42.99, the valuation of ASM can be described as expensive.
  • ASM's Price/Earnings is on the same level as the industry average.
  • ASM is valuated expensively when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 42.23 indicates a quite expensive valuation of ASM.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ASM indicates a slightly more expensive valuation: ASM is more expensive than 71.43% of the companies listed in the same industry.
  • 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 42.99
Fwd PE 42.23
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 68.25% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 46.23
EV/EBITDA 28.34
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)11.61
PEG (5Y)1.89
EPS Next 2Y7.36%
EPS Next 3Y13.69%

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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.
  • 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

  • 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 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.
  • 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

AMS:ASM (2/3/2026, 4:58:04 PM)

698.6

-9.2 (-1.3%)

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 Cap34.46B
Revenue(TTM)3.28B
Net Income(TTM)783.70M
Analysts78.4
Price Target647.96 (-7.25%)
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 42.99
Fwd PE 42.23
P/S 10.49
P/FCF 46.23
P/OCF 29.65
P/B 8.98
P/tB 13.15
EV/EBITDA 28.34
EPS(TTM)16.25
EY2.33%
EPS(NY)16.54
Fwd EY2.37%
FCF(TTM)15.11
FCFY2.16%
OCF(TTM)23.56
OCFY3.37%
SpS66.57
BVpS77.8
TBVpS53.13
PEG (NY)11.61
PEG (5Y)1.89
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 42.99 and the Price/Book (PB) ratio is 8.98.


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%.