BE SEMICONDUCTOR INDUSTRIES (BESI.AS) Fundamental Analysis & Valuation

AMS:BESI • NL0012866412

156.3 EUR
-32.35 (-17.15%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

5

Overall BESI gets a fundamental rating of 5 out of 10. We evaluated BESI against 64 industry peers in the Semiconductors & Semiconductor Equipment industry. BESI has an average financial health and profitability rating. BESI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. BESI.AS Profitability Analysis

1.1 Basic Checks

  • In the past year BESI was profitable.
  • BESI had a positive operating cash flow in the past year.
  • In the past 5 years BESI has always been profitable.
  • Each year in the past 5 years BESI had a positive operating cash flow.
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 2025 100M 200M 300M

1.2 Ratios

  • With a decent Return On Assets value of 13.84%, BESI is doing good in the industry, outperforming 71.88% of the companies in the same industry.
  • BESI has a Return On Equity of 40.95%. This is amongst the best in the industry. BESI outperforms 85.94% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 13.59%, BESI is in the better half of the industry, outperforming 64.06% of the companies in the same industry.
Industry RankSector Rank
ROA 13.84%
ROE 40.95%
ROIC 13.59%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
BESI.AS Yearly ROA, ROE, ROICBESI.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • BESI has a better Profit Margin (25.56%) than 71.88% of its industry peers.
  • BESI's Profit Margin has declined in the last couple of years.
  • BESI's Operating Margin of 29.02% is fine compared to the rest of the industry. BESI outperforms 65.63% of its industry peers.
  • BESI's Operating Margin has declined in the last couple of years.
  • BESI has a Gross Margin of 63.31%. This is amongst the best in the industry. BESI outperforms 87.50% of its industry peers.
  • In the last couple of years the Gross Margin of BESI has remained more or less at the same level.
Industry RankSector Rank
OM 29.02%
PM (TTM) 25.56%
GM 63.31%
OM growth 3Y-10.4%
OM growth 5Y-3.27%
PM growth 3Y-12.55%
PM growth 5Y-6.11%
GM growth 3Y1.08%
GM growth 5Y1.2%
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 2025 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. BESI.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BESI is creating some value.
  • BESI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
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

  • The Debt to FCF ratio of BESI is 3.01, which is a good value as it means it would take BESI, 3.01 years of fcf income to pay off all of its debts.
  • BESI has a Debt to FCF ratio (3.01) which 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.
  • With a Debt to Equity ratio value of 1.49, BESI is not doing good in the industry: 95.31% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 3.01
Altman-Z N/A
ROIC/WACC1.23
WACC11.03%
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 2025 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.
  • Looking at the Current ratio, with a value of 5.77, BESI belongs to the top of the industry, outperforming 95.31% of the companies in the same industry.
  • 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.
  • Looking at the Quick ratio, with a value of 5.04, BESI belongs to the top of the industry, outperforming 95.31% of the companies in the same industry.
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

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. BESI.AS Growth Analysis

3.1 Past

  • BESI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27.83%.
  • BESI shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.12% yearly.
  • BESI shows a decrease in Revenue. In the last year, the revenue decreased by -2.66%.
  • BESI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.40% yearly.
EPS 1Y (TTM)-27.83%
EPS 3Y-16.97%
EPS 5Y-0.12%
EPS Q2Q%-27.03%
Revenue 1Y (TTM)-2.66%
Revenue growth 3Y-6.48%
Revenue growth 5Y6.4%
Sales Q2Q%8.44%

3.2 Future

  • The Earnings Per Share is expected to grow by 40.16% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 23.29% on average over the next years. This is a very strong growth
EPS Next Y102.43%
EPS Next 2Y73.26%
EPS Next 3Y54.98%
EPS Next 5Y40.16%
Revenue Next Year44.06%
Revenue Next 2Y36.21%
Revenue Next 3Y29.57%
Revenue Next 5Y23.29%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

More info and screens

Find the best growth stocksShow best growing peers

3

4. BESI.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 94.16, the valuation of BESI can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of BESI indicates a rather expensive valuation: BESI more expensive than 84.38% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of BESI to the average of the S&P500 Index (26.29), we can say BESI is valued expensively.
  • A Price/Forward Earnings ratio of 46.51 indicates a quite expensive valuation of BESI.
  • Based on the Price/Forward Earnings ratio, BESI is valued a bit more expensive than 73.44% of the companies in the same industry.
  • BESI is valuated expensively when we compare the Price/Forward Earnings ratio to 24.57, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 94.16
Fwd PE 46.51
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BESI indicates a rather expensive valuation: BESI more expensive than 90.63% of the companies listed in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as BESI.
Industry RankSector Rank
P/FCF 71.03
EV/EBITDA 79.68
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • BESI has a very decent profitability rating, which may justify a higher PE ratio.
  • BESI's earnings are expected to grow with 54.98% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.92
PEG (5Y)N/A
EPS Next 2Y73.26%
EPS Next 3Y54.98%

More info and screens

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

3

5. BESI.AS Dividend Analysis

5.1 Amount

  • BESI has a yearly dividend return of 0.84%, which is pretty low.
  • BESI's Dividend Yield is a higher than the industry average which is at 0.69.
  • With a Dividend Yield of 0.84, BESI pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.84%

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 2026 1 2 3

5.3 Sustainability

  • BESI pays out 116.89% of its income as dividend. This is not a sustainable payout ratio.
  • BESI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP116.89%
EPS Next 2Y73.26%
EPS Next 3Y54.98%
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 2025 50M 100M 150M 200M 250M
BESI.AS Dividend Payout.BESI.AS Dividend Payout, showing the Payout Ratio.BESI.AS Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

BESI.AS Fundamentals: All Metrics, Ratios and Statistics

BE SEMICONDUCTOR INDUSTRIES

AMS:BESI (3/6/2026, 7:00:00 PM)

156.3

-32.35 (-17.15%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-19
Earnings (Next)04-23
Inst Owners70.23%
Inst Owner ChangeN/A
Ins Owners1.84%
Ins Owner ChangeN/A
Market Cap12.68B
Revenue(TTM)591.33M
Net Income(TTM)147.84M
Analysts74.29
Price Target190.2 (21.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.84%
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)19.11%
PT rev (3m)25.19%
EPS NQ rev (1m)0.77%
EPS NQ rev (3m)-4.4%
EPS NY rev (1m)0%
EPS NY rev (3m)1.33%
Revenue NQ rev (1m)-0.39%
Revenue NQ rev (3m)-2.87%
Revenue NY rev (1m)2.33%
Revenue NY rev (3m)2.33%
Valuation
Industry RankSector Rank
PE 94.16
Fwd PE 46.51
P/S 21.93
P/FCF 71.03
P/OCF 65.32
P/B 35.14
P/tB 60.11
EV/EBITDA 79.68
EPS(TTM)1.66
EY1.06%
EPS(NY)3.36
Fwd EY2.15%
FCF(TTM)2.2
FCFY1.41%
OCF(TTM)2.39
OCFY1.53%
SpS7.13
BVpS4.45
TBVpS2.6
PEG (NY)0.92
PEG (5Y)N/A
Graham Number12.89
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)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-10.4%
OM growth 5Y-3.27%
PM growth 3Y-12.55%
PM growth 5Y-6.11%
GM growth 3Y1.08%
GM growth 5Y1.2%
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
WACC11.03%
ROIC/WACC1.23
Cap/Depr(3y)38.58%
Cap/Depr(5y)35.14%
Cap/Sales(3y)1.95%
Cap/Sales(5y)1.5%
Profit Quality(3y)113.7%
Profit Quality(5y)109.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-27.83%
EPS 3Y-16.97%
EPS 5Y-0.12%
EPS Q2Q%-27.03%
EPS Next Y102.43%
EPS Next 2Y73.26%
EPS Next 3Y54.98%
EPS Next 5Y40.16%
Revenue 1Y (TTM)-2.66%
Revenue growth 3Y-6.48%
Revenue growth 5Y6.4%
Sales Q2Q%8.44%
Revenue Next Year44.06%
Revenue Next 2Y36.21%
Revenue Next 3Y29.57%
Revenue Next 5Y23.29%
EBIT growth 1Y-20.39%
EBIT growth 3Y-16.2%
EBIT growth 5Y2.92%
EBIT Next Year114%
EBIT Next 3Y57.5%
EBIT Next 5Y35.56%
FCF growth 1Y0.4%
FCF growth 3Y-15.08%
FCF growth 5Y0.57%
OCF growth 1Y2.04%
OCF growth 3Y-13.14%
OCF growth 5Y1.92%

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 3 / 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 6 / 10.


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

The financial health rating of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) is 5 / 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%.