ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:ASM - NL0000334118 - Common Stock
712 EUR
+1.8 (+0.25%)
Taking everything into account, ASM scores 6 out of 10 in our fundamental rating. ASM was compared to 69 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASM has a great profitability rating, there are some minor concerns on its financial health. ASM is valued quite expensive, but it does show an excellent growth. These ratings could make ASM a good candidate for growth investing.
1. Profitability
1.1 Basic Checks
- In the past year ASM was profitable.
- 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.
1.2 Ratios
- ASM has a Return On Assets of 14.94%. This is in the better half of the industry: ASM outperforms 78.26% of its industry peers.
- ASM's Return On Equity of 20.42% is fine compared to the rest of the industry. ASM outperforms 68.12% of its industry peers.
- ASM has a Return On Invested Capital of 20.12%. This is in the better half of the industry: ASM outperforms 79.71% of its industry peers.
- The Average Return On Invested Capital over the past 3 years 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
- With a decent Profit Margin value of 23.87%, ASM is doing good in the industry, outperforming 65.22% of the companies in the same industry.
- In the last couple of years the Profit Margin of ASM has declined.
- Looking at the Operating Margin, with a value of 30.26%, ASM is in the better half of the industry, outperforming 75.36% of the companies in the same industry.
- In the last couple of years the Operating Margin of ASM has grown nicely.
- ASM has a Gross Margin of 51.86%. This is comparable to the rest of the industry: ASM outperforms 57.97% of 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
- 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.
2.2 Solvency
- The Debt to FCF ratio of ASM is 0.08, which is an excellent value as it means it would take ASM, only 0.08 years of fcf income to pay off all of its debts.
- With an excellent Debt to FCF ratio value of 0.08, ASM belongs to the best of the industry, outperforming 92.75% of the companies in the same industry.
- ASM has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
- Looking at the Debt to Equity ratio, with a value of 0.01, ASM belongs to the top of the industry, outperforming 89.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.08 | ||
| Altman-Z | N/A |
ROIC/WACC1.85
WACC10.89%
2.3 Liquidity
- A Current Ratio of 2.16 indicates that ASM has no problem at all paying its short term obligations.
- Looking at the Current ratio, with a value of 2.16, ASM is doing worse than 65.22% of the companies in the same industry.
- 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'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
- 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.
- 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
- 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
- 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
- ASM is valuated quite expensively with a Price/Earnings ratio of 43.82.
- The rest of the industry has a similar Price/Earnings ratio as ASM.
- ASM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.25.
- Based on the Price/Forward Earnings ratio of 43.04, the valuation of ASM can be described as expensive.
- ASM's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. ASM is more expensive than 69.57% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of ASM to the average of the S&P500 Index (25.98), we can say ASM is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 43.82 | ||
| Fwd PE | 43.04 |
4.2 Price Multiples
- ASM's Enterprise Value to EBITDA ratio is in line with the industry average.
- Based on the Price/Free Cash Flow ratio, ASM is valued a bit cheaper than 69.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.12 | ||
| EV/EBITDA | 28.43 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- The decent profitability rating of ASM 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)11.83
PEG (5Y)1.93
EPS Next 2Y7.36%
EPS Next 3Y13.69%
5. Dividend
5.1 Amount
- With a yearly dividend of 0.42%, ASM is not a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 0.74, ASM has a dividend in line with its industry peers.
- With a Dividend Yield of 0.42, ASM pays less dividend than the S&P500 average, which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.42% |
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
5.3 Sustainability
- 18.80% of the earnings are spent on dividend by ASM. This is a low number and 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 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 43.82 and the Price/Book (PB) ratio is 9.15.
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%.