BE SEMICONDUCTOR INDUSTRIES (BESI.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:BESI • NL0012866412

157.55 EUR
-2.6 (-1.62%)
Last: Feb 4, 2026, 07:00 PM
Fundamental Rating

5

BESI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 63 industry peers in the Semiconductors & Semiconductor Equipment industry. BESI scores excellent on profitability, but there are some minor concerns on its financial health. BESI is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year BESI was profitable.
  • BESI had a positive operating cash flow in the past year.
  • Each year in the past 5 years BESI has been profitable.
  • In the past 5 years BESI always reported a positive cash flow from operatings.
BESI.AS Yearly Net Income VS EBIT VS OCF VS FCFBESI.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 100M 200M 300M

1.2 Ratios

  • With a decent Return On Assets value of 13.84%, BESI is doing good in the industry, outperforming 73.02% of the companies in the same industry.
  • The Return On Equity of BESI (40.95%) is better than 85.71% of its industry peers.
  • BESI has a better Return On Invested Capital (13.59%) than 66.67% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for BESI is above the industry average of 15.01%.
  • The 3 year average ROIC (19.02%) for BESI is well above the current ROIC(13.59%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 13.84%
ROE 40.95%
ROIC 13.59%
ROA(3y)18.56%
ROA(5y)18.98%
ROE(3y)38.87%
ROE(5y)39.57%
ROIC(3y)19.02%
ROIC(5y)19.17%
BESI.AS Yearly ROA, ROE, ROICBESI.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

1.3 Margins

  • The Profit Margin of BESI (25.56%) is better than 73.02% of its industry peers.
  • In the last couple of years the Profit Margin of BESI has grown nicely.
  • Looking at the Operating Margin, with a value of 29.02%, BESI is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • BESI's Operating Margin has improved in the last couple of years.
  • BESI has a Gross Margin of 63.31%. This is amongst the best in the industry. BESI outperforms 87.30% of its industry peers.
  • In the last couple of years the Gross Margin of BESI has grown nicely.
Industry RankSector Rank
OM 29.02%
PM (TTM) 25.56%
GM 63.31%
OM growth 3Y-8.76%
OM growth 5Y4.43%
PM growth 3Y-7.37%
PM growth 5Y5.59%
GM growth 3Y3.01%
GM growth 5Y3.15%
BESI.AS Yearly Profit, Operating, Gross MarginsBESI.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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4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BESI is creating some value.
  • The number of shares outstanding for BESI has been increased compared to 1 year ago.
  • The number of shares outstanding for BESI has been increased compared to 5 years ago.
  • BESI has a worse debt/assets ratio than last year.
BESI.AS Yearly Shares OutstandingBESI.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
BESI.AS Yearly Total Debt VS Total AssetsBESI.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

  • BESI has a debt to FCF ratio of 3.01. This is a good value and a sign of high solvency as BESI would need 3.01 years to pay back of all of its debts.
  • The Debt to FCF ratio of BESI (3.01) is comparable to the rest of the industry.
  • BESI has a Debt/Equity ratio of 1.49. This is a high value indicating a heavy dependency on external financing.
  • BESI's Debt to Equity ratio of 1.49 is on the low side compared to the rest of the industry. BESI is outperformed by 95.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 3.01
Altman-Z N/A
ROIC/WACC1.28
WACC10.64%
BESI.AS Yearly LT Debt VS Equity VS FCFBESI.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 5.77 indicates that BESI has no problem at all paying its short term obligations.
  • BESI's Current ratio of 5.77 is amongst the best of the industry. BESI outperforms 96.83% of its industry peers.
  • BESI has a Quick Ratio of 5.04. This indicates that BESI is financially healthy and has no problem in meeting its short term obligations.
  • BESI has a better Quick ratio (5.04) than 96.83% of its industry peers.
Industry RankSector Rank
Current Ratio 5.77
Quick Ratio 5.04
BESI.AS Yearly Current Assets VS Current LiabilitesBESI.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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6

3. Growth

3.1 Past

  • BESI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -16.96%.
  • The Earnings Per Share has been growing by 16.76% on average over the past years. This is quite good.
  • Looking at the last year, BESI shows a decrease in Revenue. The Revenue has decreased by -5.75% in the last year.
  • Measured over the past years, BESI shows a quite strong growth in Revenue. The Revenue has been growing by 11.27% on average per year.
EPS 1Y (TTM)-16.96%
EPS 3Y-12.13%
EPS 5Y16.76%
EPS Q2Q%-45.76%
Revenue 1Y (TTM)-5.75%
Revenue growth 3Y-6.76%
Revenue growth 5Y11.27%
Sales Q2Q%-15.23%

3.2 Future

  • BESI is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.36% yearly.
  • BESI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 19.35% yearly.
EPS Next Y-25.61%
EPS Next 2Y20.87%
EPS Next 3Y29.4%
EPS Next 5Y25.36%
Revenue Next Year-4.4%
Revenue Next 2Y16.17%
Revenue Next 3Y20.76%
Revenue Next 5Y19.35%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BESI.AS Yearly Revenue VS EstimatesBESI.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 500M 1B 1.5B 2B
BESI.AS Yearly EPS VS EstimatesBESI.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 2032 2 4 6 8

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2

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 84.70, which means the current valuation is very expensive for BESI.
  • BESI's Price/Earnings ratio is a bit more expensive when compared to the industry. BESI is more expensive than 79.37% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.25. BESI is valued rather expensively when compared to this.
  • BESI is valuated quite expensively with a Price/Forward Earnings ratio of 46.89.
  • Based on the Price/Forward Earnings ratio, BESI is valued a bit more expensive than the industry average as 77.78% of the companies are valued more cheaply.
  • The average S&P500 Price/Forward Earnings ratio is at 27.50. BESI is valued rather expensively when compared to this.
Industry RankSector Rank
PE 84.7
Fwd PE 46.89
BESI.AS Price Earnings VS Forward Price EarningsBESI.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • BESI's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. BESI is more expensive than 88.89% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of BESI is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 71.6
EV/EBITDA 68.05
BESI.AS Per share dataBESI.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The excellent profitability rating of BESI may justify a higher PE ratio.
  • A more expensive valuation may be justified as BESI's earnings are expected to grow with 29.40% in the coming years.
PEG (NY)N/A
PEG (5Y)5.05
EPS Next 2Y20.87%
EPS Next 3Y29.4%

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3

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.34%, BESI has a reasonable but not impressive dividend return.
  • BESI's Dividend Yield is a higher than the industry average which is at 0.78.
  • Compared to the average S&P500 Dividend Yield of 1.82, BESI is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.34%

5.2 History

  • The dividend of BESI has a limited annual growth rate of 5.49%.
Dividend Growth(5Y)5.49%
Div Incr Years1
Div Non Decr Years1
BESI.AS Yearly Dividends per shareBESI.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • BESI pays out 116.89% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of BESI is growing, but earnings are growing more, so the dividend growth is sustainable.
DP116.89%
EPS Next 2Y20.87%
EPS Next 3Y29.4%
BESI.AS Yearly Income VS Free CF VS DividendBESI.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
BESI.AS Dividend Payout.BESI.AS Dividend Payout, showing the Payout Ratio.BESI.AS Dividend Payout.PayoutRetained Earnings

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BE SEMICONDUCTOR INDUSTRIES

AMS:BESI (2/4/2026, 7:00:00 PM)

157.55

-2.6 (-1.62%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)10-23
Earnings (Next)02-19
Inst Owners70.23%
Inst Owner ChangeN/A
Ins Owners1.84%
Ins Owner ChangeN/A
Market Cap12.79B
Revenue(TTM)578.39M
Net Income(TTM)147.84M
Analysts77.04
Price Target159.68 (1.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.34%
Yearly Dividend2.19
Dividend Growth(5Y)5.49%
DP116.89%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-13.51%
Min EPS beat(2)-18.69%
Max EPS beat(2)-8.32%
EPS beat(4)1
Avg EPS beat(4)-3.39%
Min EPS beat(4)-18.69%
Max EPS beat(4)23.83%
EPS beat(8)4
Avg EPS beat(8)-1.18%
EPS beat(12)8
Avg EPS beat(12)1.76%
EPS beat(16)9
Avg EPS beat(16)0.52%
Revenue beat(2)0
Avg Revenue beat(2)-5.72%
Min Revenue beat(2)-5.94%
Max Revenue beat(2)-5.51%
Revenue beat(4)0
Avg Revenue beat(4)-7.15%
Min Revenue beat(4)-9.3%
Max Revenue beat(4)-5.51%
Revenue beat(8)1
Avg Revenue beat(8)-3.89%
Revenue beat(12)3
Avg Revenue beat(12)-2.91%
Revenue beat(16)4
Avg Revenue beat(16)-2.89%
PT rev (1m)4.86%
PT rev (3m)12.03%
EPS NQ rev (1m)5.15%
EPS NQ rev (3m)-14.1%
EPS NY rev (1m)0.64%
EPS NY rev (3m)-2.24%
Revenue NQ rev (1m)1.1%
Revenue NQ rev (3m)-3.84%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.92%
Valuation
Industry RankSector Rank
PE 84.7
Fwd PE 46.89
P/S 22.1
P/FCF 71.6
P/OCF 65.84
P/B 35.42
P/tB 60.59
EV/EBITDA 68.05
EPS(TTM)1.86
EY1.18%
EPS(NY)3.36
Fwd EY2.13%
FCF(TTM)2.2
FCFY1.4%
OCF(TTM)2.39
OCFY1.52%
SpS7.13
BVpS4.45
TBVpS2.6
PEG (NY)N/A
PEG (5Y)5.05
Graham Number13.64
Profitability
Industry RankSector Rank
ROA 13.84%
ROE 40.95%
ROCE 18.13%
ROIC 13.59%
ROICexc 13.59%
ROICexgc 16.22%
OM 29.02%
PM (TTM) 25.56%
GM 63.31%
FCFM 30.87%
ROA(3y)18.56%
ROA(5y)18.98%
ROE(3y)38.87%
ROE(5y)39.57%
ROIC(3y)19.02%
ROIC(5y)19.17%
ROICexc(3y)50.78%
ROICexc(5y)56.53%
ROICexgc(3y)83.27%
ROICexgc(5y)93.76%
ROCE(3y)25.37%
ROCE(5y)25.56%
ROICexgc growth 3Y-21.99%
ROICexgc growth 5Y-0.91%
ROICexc growth 3Y-21.66%
ROICexc growth 5Y1.58%
OM growth 3Y-8.76%
OM growth 5Y4.43%
PM growth 3Y-7.37%
PM growth 5Y5.59%
GM growth 3Y3.01%
GM growth 5Y3.15%
F-Score5
Asset Turnover0.54
Health
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 3.01
Debt/EBITDA 2.7
Cap/Depr 50.32%
Cap/Sales 2.7%
Interest Coverage 250
Cash Conversion 97.64%
Profit Quality 120.79%
Current Ratio 5.77
Quick Ratio 5.04
Altman-Z N/A
F-Score5
WACC10.64%
ROIC/WACC1.28
Cap/Depr(3y)32.8%
Cap/Depr(5y)30.17%
Cap/Sales(3y)1.37%
Cap/Sales(5y)1.16%
Profit Quality(3y)109.31%
Profit Quality(5y)108.74%
High Growth Momentum
Growth
EPS 1Y (TTM)-16.96%
EPS 3Y-12.13%
EPS 5Y16.76%
EPS Q2Q%-45.76%
EPS Next Y-25.61%
EPS Next 2Y20.87%
EPS Next 3Y29.4%
EPS Next 5Y25.36%
Revenue 1Y (TTM)-5.75%
Revenue growth 3Y-6.76%
Revenue growth 5Y11.27%
Sales Q2Q%-15.23%
Revenue Next Year-4.4%
Revenue Next 2Y16.17%
Revenue Next 3Y20.76%
Revenue Next 5Y19.35%
EBIT growth 1Y-20.39%
EBIT growth 3Y-14.92%
EBIT growth 5Y16.2%
EBIT Next Year-3.51%
EBIT Next 3Y34.14%
EBIT Next 5Y27.61%
FCF growth 1Y-23.79%
FCF growth 3Y-11.48%
FCF growth 5Y9.96%
OCF growth 1Y-19.72%
OCF growth 3Y-10.22%
OCF growth 5Y10.86%

BE SEMICONDUCTOR INDUSTRIES / BESI.AS FAQ

Can you provide the ChartMill fundamental rating for BE SEMICONDUCTOR INDUSTRIES?

ChartMill assigns a fundamental rating of 5 / 10 to BESI.AS.


What is the valuation status of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

ChartMill assigns a valuation rating of 2 / 10 to BE SEMICONDUCTOR INDUSTRIES (BESI.AS). This can be considered as Overvalued.


How profitable is BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

BE SEMICONDUCTOR INDUSTRIES (BESI.AS) has a profitability rating of 8 / 10.


What is the financial health of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

The financial health rating of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) is 4 / 10.


Can you provide the dividend sustainability for BESI stock?

The dividend rating of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) is 3 / 10 and the dividend payout ratio is 116.89%.