ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:ASM • NL0000334118

677.2 EUR
-17.8 (-2.56%)
Last: Feb 4, 2026, 04:46 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 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. With these ratings, ASM could be worth investigating further 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.
  • ASM had a positive operating cash flow in each of the past 5 years.
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

  • ASM has a Return On Assets of 14.94%. This is amongst the best in the industry. ASM outperforms 80.95% of its industry peers.
  • ASM has a Return On Equity of 20.42%. This is in the better half of the industry: ASM outperforms 69.84% of its industry peers.
  • ASM's Return On Invested Capital of 20.12% is fine compared to the rest of the industry. ASM outperforms 79.37% of its industry peers.
  • ASM had an Average Return On Invested Capital over the past 3 years of 16.63%. This 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

  • Looking at the Profit Margin, with a value of 23.87%, ASM is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ASM has declined.
  • ASM's Operating Margin of 30.26% is fine compared to the rest 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.
  • In the last couple of years the Gross Margin of ASM has grown nicely.
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

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ASM is creating value.
  • The number of shares outstanding for ASM has been reduced compared to 1 year ago.
  • The number of shares outstanding for ASM has been increased compared to 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 96.83% 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.
  • 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/WACC1.87
WACC10.78%
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.
  • 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.
  • ASM has a Quick ratio of 1.68. This is comparable to the rest of the industry: ASM outperforms 53.97% 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.
  • The Earnings Per Share has been growing by 22.75% on average over the past years. This is a very strong growth
  • Looking at the last year, ASM shows a quite strong growth in Revenue. The Revenue has grown by 19.12% in the last year.
  • 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

  • The Earnings Per Share is expected to grow by 13.39% on average over the next years. This is quite good.
  • 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 41.67, the valuation of ASM can be described as expensive.
  • ASM's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of ASM to the average of the S&P500 Index (28.18), we can say ASM is valued slightly more expensively.
  • With a Price/Forward Earnings ratio of 40.94, ASM can be considered very expensive at the moment.
  • Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than the industry average as 68.25% of the companies are valued more cheaply.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.51, ASM is valued quite expensively.
Industry RankSector Rank
PE 41.67
Fwd PE 40.94
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.
  • Based on the Price/Free Cash Flow ratio, ASM is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 44.82
EV/EBITDA 27.82
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.
  • ASM's earnings are expected to grow with 13.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)11.25
PEG (5Y)1.83
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.
  • Compared to an average industry Dividend Yield of 0.78, ASM has a dividend in line with its industry peers.
  • With a Dividend Yield of 0.43, ASM pays less dividend than the S&P500 average, which is at 1.83.
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.
  • ASM's earnings are growing more than its dividend. This makes the dividend growth 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 (2/4/2026, 4:46:20 PM)

677.2

-17.8 (-2.56%)

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 Cap33.41B
Revenue(TTM)3.28B
Net Income(TTM)783.70M
Analysts78.4
Price Target647.96 (-4.32%)
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 41.67
Fwd PE 40.94
P/S 10.17
P/FCF 44.82
P/OCF 28.75
P/B 8.7
P/tB 12.75
EV/EBITDA 27.82
EPS(TTM)16.25
EY2.4%
EPS(NY)16.54
Fwd EY2.44%
FCF(TTM)15.11
FCFY2.23%
OCF(TTM)23.56
OCFY3.48%
SpS66.57
BVpS77.8
TBVpS53.13
PEG (NY)11.25
PEG (5Y)1.83
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
WACC10.78%
ROIC/WACC1.87
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 41.67 and the Price/Book (PB) ratio is 8.7.


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%.