Taking everything into account, ASM scores 6 out of 10 in our fundamental rating. ASM was compared to 157 industry peers in the Metals & Mining industry. Both the health and profitability get an excellent rating, making ASM a very profitable company, without any liquidiy or solvency issues. ASM has a decent growth rate and is not valued too expensively. This makes ASM very considerable for quality investing!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

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.
The reported net income has been mixed in the past 5 years: ASM reported negative net income in multiple years.
In the past 5 years ASM always reported a positive cash flow from operatings.

1.2 Ratios

ASM's Return On Assets of 9.59% is amongst the best of the industry. ASM outperforms 86.62% of its industry peers.
ASM has a better Return On Equity (11.68%) than 80.25% of its industry peers.
ASM has a better Return On Invested Capital (12.79%) than 86.62% of its industry peers.
ASM had an Average Return On Invested Capital over the past 3 years of 5.24%. This is significantly below the industry average of 10.48%.
The 3 year average ROIC (5.24%) for ASM is below the current ROIC(12.79%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	9.59%
ROE	11.68%
ROIC	12.79%

ROA(3y)2.81%

ROA(5y)-1.02%

ROE(3y)3.38%

ROE(5y)-1.09%

ROIC(3y)5.24%

ROIC(5y)N/A

1.3 Margins

With an excellent Profit Margin value of 24.72%, ASM belongs to the best of the industry, outperforming 89.17% of the companies in the same industry.
Looking at the Operating Margin, with a value of 36.28%, ASM belongs to the top of the industry, outperforming 85.99% of the companies in the same industry.
ASM's Gross Margin of 48.96% is amongst the best of the industry. ASM outperforms 85.35% of its industry peers.
ASM's Gross Margin has improved in the last couple of years.

		Industry Rank	Sector Rank
OM	36.28%
PM (TTM)	24.72%
GM	48.96%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y5.18%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ASM is still creating some value.
Compared to 1 year ago, ASM has more shares outstanding
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.

2.2 Solvency

An Altman-Z score of 22.32 indicates that ASM is not in any danger for bankruptcy at the moment.
ASM has a Altman-Z score of 22.32. This is amongst the best in the industry. ASM outperforms 82.17% of its industry peers.
The Debt to FCF ratio of ASM is 0.54, which is an excellent value as it means it would take ASM, only 0.54 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.54, ASM belongs to the top of the industry, outperforming 92.36% of the companies in the same industry.
A Debt/Equity ratio of 0.01 indicates that ASM is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.01, ASM is doing good in the industry, outperforming 73.25% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.01
Debt/FCF	0.54
Altman-Z	22.32

ROIC/WACC1.3

WACC9.84%

2.3 Liquidity

A Current Ratio of 2.75 indicates that ASM has no problem at all paying its short term obligations.
ASM has a Current ratio of 2.75. This is comparable to the rest of the industry: ASM outperforms 56.05% of its industry peers.
ASM has a Quick Ratio of 2.34. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
ASM has a better Quick ratio (2.34) than 64.33% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	2.75
Quick Ratio	2.34

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

ASM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 900.00%, which is quite impressive.
Looking at the last year, ASM shows a very strong growth in Revenue. The Revenue has grown by 58.42%.
ASM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.82% yearly.

EPS 1Y (TTM)900%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%600%

Revenue 1Y (TTM)58.42%

Revenue growth 3Y80.63%

Revenue growth 5Y15.82%

Sales Q2Q%187.93%

3.2 Future

Based on estimates for the next years, ASM will show a very strong growth in Earnings Per Share. The EPS will grow by 78.17% on average per year.
ASM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.30% yearly.

EPS Next Y263.6%

EPS Next 2Y150.24%

EPS Next 3Y78.17%

EPS Next 5YN/A

Revenue Next Year34.48%

Revenue Next 2Y37.12%

Revenue Next 3Y22.79%

Revenue Next 5Y3.3%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 44.95, which means the current valuation is very expensive for ASM.
Compared to the rest of the industry, the Price/Earnings ratio of ASM indicates a somewhat cheap valuation: ASM is cheaper than 61.78% of the companies listed in the same industry.
ASM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 28.32.
Based on the Price/Forward Earnings ratio of 28.71, the valuation of ASM can be described as expensive.
ASM's Price/Forward Earnings is on the same level as the industry average.
ASM is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 25.57, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	44.95
Fwd PE	28.71

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASM.
The rest of the industry has a similar Price/Free Cash Flow ratio as ASM.

		Industry Rank	Sector Rank
P/FCF	163.32
EV/EBITDA	38.96

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap 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 78.17% in the coming years.