ASM INTERNATIONAL NV (ASM.AS) Fundamental Analysis & Valuation

AMS:ASM • NL0000334118

Current stock price

650.6 EUR
-29.2 (-4.3%)
Last:

This ASM.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. ASM.AS Profitability Analysis

1.1 Basic Checks

  • ASM had positive earnings in the past year.
  • In the past year ASM had a positive cash flow from operations.
  • In the past 5 years ASM has always 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 2025 200M 400M 600M 800M 1B

1.2 Ratios

  • The Return On Assets of ASM (13.56%) is better than 70.69% of its industry peers.
  • ASM has a Return On Equity (18.07%) which is in line with its industry peers.
  • With a decent Return On Invested Capital value of 17.35%, ASM is doing good in the industry, outperforming 79.31% of the companies in the same industry.
  • ASM had an Average Return On Invested Capital over the past 3 years of 15.99%. This is in line with the industry average of 14.64%.
  • The last Return On Invested Capital (17.35%) for ASM is above the 3 year average (15.99%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 13.56%
ROE 18.07%
ROIC 17.35%
ROA(3y)14.88%
ROA(5y)14.65%
ROE(3y)19.89%
ROE(5y)19.18%
ROIC(3y)15.99%
ROIC(5y)16.28%
ASM.AS Yearly ROA, ROE, ROICASM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • ASM has a better Profit Margin (22.81%) than 67.24% of its industry peers.
  • ASM's Profit Margin has been stable in the last couple of years.
  • ASM has a Operating Margin of 29.87%. This is in the better half of the industry: ASM outperforms 75.86% of its industry peers.
  • ASM's Operating Margin has improved in the last couple of years.
  • ASM has a Gross Margin (51.79%) which is in line with its industry peers.
  • ASM's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 29.87%
PM (TTM) 22.81%
GM 51.79%
OM growth 3Y4.49%
OM growth 5Y3.34%
PM growth 3Y12.22%
PM growth 5Y1.2%
GM growth 3Y3%
GM growth 5Y1.98%
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 2025 20 40 60

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7

2. ASM.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASM is creating some value.
  • Compared to 1 year ago, ASM has less shares outstanding
  • The number of shares outstanding for ASM has been increased compared to 5 years ago.
  • 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 2025 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 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • ASM has an Altman-Z score of 17.70. This indicates that ASM is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 17.70, ASM belongs to the top of the industry, outperforming 86.21% of the companies in the same industry.
  • ASM has a debt to FCF ratio of 0.13. This is a very positive value and a sign of high solvency as it would only need 0.13 years to pay back of all of its debts.
  • ASM has a Debt to FCF ratio of 0.13. This is amongst the best in the industry. ASM outperforms 89.66% of its industry peers.
  • ASM has a Debt/Equity ratio of 0.02. This is a healthy value indicating a solid balance between debt and equity.
  • ASM has a Debt to Equity ratio of 0.02. This is amongst the best in the industry. ASM outperforms 89.66% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.13
Altman-Z 17.7
ROIC/WACC1.57
WACC11.08%
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 2025 1B 2B 3B 4B

2.3 Liquidity

  • ASM has a Current Ratio of 2.25. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
  • ASM has a worse Current ratio (2.25) than 60.34% of its industry peers.
  • A Quick Ratio of 1.72 indicates that ASM should not have too much problems paying its short term obligations.
  • The Quick ratio of ASM (1.72) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.25
Quick Ratio 1.72
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 2025 500M 1B 1.5B 2B

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6

3. ASM.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 4.60% over the past year.
  • Measured over the past years, ASM shows a quite strong growth in Earnings Per Share. The EPS has been growing by 19.97% on average per year.
  • ASM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.20%.
  • ASM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.03% yearly.
EPS 1Y (TTM)4.6%
EPS 3Y5.5%
EPS 5Y19.97%
EPS Q2Q%-26.44%
Revenue 1Y (TTM)8.2%
Revenue growth 3Y9.59%
Revenue growth 5Y19.03%
Sales Q2Q%-13.68%

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 19.41% on average per year.
  • The Revenue is expected to grow by 14.05% on average over the next years. This is quite good.
EPS Next Y17.54%
EPS Next 2Y21.77%
EPS Next 3Y18.63%
EPS Next 5Y19.41%
Revenue Next Year11.62%
Revenue Next 2Y15.5%
Revenue Next 3Y14.81%
Revenue Next 5Y14.05%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of 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. ASM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 43.34, the valuation of ASM can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as ASM.
  • ASM is valuated expensively when we compare the Price/Earnings ratio to 24.88, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 36.88, 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 62.07% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of ASM to the average of the S&P500 Index (22.19), we can say ASM is valued expensively.
Industry RankSector Rank
PE 43.34
Fwd PE 36.88
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

4.2 Price Multiples

  • ASM's Enterprise Value to EBITDA is on the same level as the industry average.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as ASM.
Industry RankSector Rank
P/FCF 54.17
EV/EBITDA 27.18
ASM.AS Per share dataASM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

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.
  • ASM's earnings are expected to grow with 18.63% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.47
PEG (5Y)2.17
EPS Next 2Y21.77%
EPS Next 3Y18.63%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. ASM.AS Dividend Analysis

5.1 Amount

  • ASM has a yearly dividend return of 0.48%, which is pretty low.
  • ASM's Dividend Yield is comparable with the industry average which is at 0.79.
  • Compared to an average S&P500 Dividend Yield of 1.90, ASM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.48%

5.2 History

  • The dividend of ASM is nicely growing with an annual growth rate of 8.25%!
Dividend Growth(5Y)8.25%
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 2026 1 2 3

5.3 Sustainability

  • ASM pays out 20.35% 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.
DP20.35%
EPS Next 2Y21.77%
EPS Next 3Y18.63%
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 2025 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.AS Fundamentals: All Metrics, Ratios and Statistics

ASM INTERNATIONAL NV

AMS:ASM (3/27/2026, 7:00:00 PM)

650.6

-29.2 (-4.3%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)03-03
Earnings (Next)04-21
Inst Owners59.71%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap32.09B
Revenue(TTM)3.17B
Net Income(TTM)723.80M
Analysts76.92
Price Target807.68 (24.14%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.48%
Yearly Dividend3.01
Dividend Growth(5Y)8.25%
DP20.35%
Div Incr Years2
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.17%
Min EPS beat(2)14.11%
Max EPS beat(2)16.23%
EPS beat(4)2
Avg EPS beat(4)2.88%
Min EPS beat(4)-15.47%
Max EPS beat(4)16.23%
EPS beat(8)4
Avg EPS beat(8)5.35%
EPS beat(12)5
Avg EPS beat(12)1.68%
EPS beat(16)7
Avg EPS beat(16)2.02%
Revenue beat(2)1
Avg Revenue beat(2)-0.16%
Min Revenue beat(2)-0.93%
Max Revenue beat(2)0.62%
Revenue beat(4)1
Avg Revenue beat(4)-0.57%
Min Revenue beat(4)-1.28%
Max Revenue beat(4)0.62%
Revenue beat(8)4
Avg Revenue beat(8)0.06%
Revenue beat(12)7
Avg Revenue beat(12)0.19%
Revenue beat(16)8
Avg Revenue beat(16)0.2%
PT rev (1m)0.71%
PT rev (3m)20.8%
EPS NQ rev (1m)15.69%
EPS NQ rev (3m)16.73%
EPS NY rev (1m)6.66%
EPS NY rev (3m)9.01%
Revenue NQ rev (1m)12.04%
Revenue NQ rev (3m)13.09%
Revenue NY rev (1m)0.77%
Revenue NY rev (3m)4.05%
Valuation
Industry RankSector Rank
PE 43.34
Fwd PE 36.88
P/S 10.11
P/FCF 54.17
P/OCF 30.25
P/B 8.01
P/tB 12.02
EV/EBITDA 27.18
EPS(TTM)15.01
EY2.31%
EPS(NY)17.64
Fwd EY2.71%
FCF(TTM)12.01
FCFY1.85%
OCF(TTM)21.5
OCFY3.31%
SpS64.33
BVpS81.2
TBVpS54.11
PEG (NY)2.47
PEG (5Y)2.17
Graham Number165.6
Profitability
Industry RankSector Rank
ROA 13.56%
ROE 18.07%
ROCE 22.07%
ROIC 17.35%
ROICexc 22.8%
ROICexgc 38.57%
OM 29.87%
PM (TTM) 22.81%
GM 51.79%
FCFM 18.67%
ROA(3y)14.88%
ROA(5y)14.65%
ROE(3y)19.89%
ROE(5y)19.18%
ROIC(3y)15.99%
ROIC(5y)16.28%
ROICexc(3y)20.51%
ROICexc(5y)20.68%
ROICexgc(3y)33.29%
ROICexgc(5y)31.63%
ROCE(3y)20.33%
ROCE(5y)20.71%
ROICexgc growth 3Y6.93%
ROICexgc growth 5Y12.44%
ROICexc growth 3Y5.28%
ROICexc growth 5Y4.61%
OM growth 3Y4.49%
OM growth 5Y3.34%
PM growth 3Y12.22%
PM growth 5Y1.2%
GM growth 3Y3%
GM growth 5Y1.98%
F-Score8
Asset Turnover0.59
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.13
Debt/EBITDA 0.05
Cap/Depr 186.57%
Cap/Sales 14.76%
Interest Coverage 250
Cash Conversion 88.48%
Profit Quality 81.86%
Current Ratio 2.25
Quick Ratio 1.72
Altman-Z 17.7
F-Score8
WACC11.08%
ROIC/WACC1.57
Cap/Depr(3y)182.83%
Cap/Depr(5y)176.57%
Cap/Sales(3y)13.09%
Cap/Sales(5y)11.39%
Profit Quality(3y)71.73%
Profit Quality(5y)69.2%
High Growth Momentum
Growth
EPS 1Y (TTM)4.6%
EPS 3Y5.5%
EPS 5Y19.97%
EPS Q2Q%-26.44%
EPS Next Y17.54%
EPS Next 2Y21.77%
EPS Next 3Y18.63%
EPS Next 5Y19.41%
Revenue 1Y (TTM)8.2%
Revenue growth 3Y9.59%
Revenue growth 5Y19.03%
Sales Q2Q%-13.68%
Revenue Next Year11.62%
Revenue Next 2Y15.5%
Revenue Next 3Y14.81%
Revenue Next 5Y14.05%
EBIT growth 1Y19.07%
EBIT growth 3Y14.51%
EBIT growth 5Y23%
EBIT Next Year36.5%
EBIT Next 3Y25.25%
EBIT Next 5Y19.82%
FCF growth 1Y11.18%
FCF growth 3Y21.17%
FCF growth 5Y42.3%
OCF growth 1Y18.17%
OCF growth 3Y25.13%
OCF growth 5Y32.04%

ASM INTERNATIONAL NV / ASM.AS Fundamental Analysis 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 43.34 and the Price/Book (PB) ratio is 8.01.


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 20.35%.