(ASM) ASM International - Overview
Sector: Technology | Industry: Semiconductor Equipment & Materials | Exchange: AS (Netherlands) | Market Cap: 42.335m EUR | Total Return: 89.1% in 12m
Avg Turnover: 126M
EPS Trend: 77.6%
Qual. Beats: 1
Rev. Trend: 86.4%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Confidence
ASM International NV is a Netherlands-based semiconductor equipment manufacturer specializing in wafer processing technologies. The company designs and services deposition systems essential for layering semiconductor devices, including Atomic Layer Deposition (ALD), epitaxy, and chemical vapor deposition (CVD) tools.
The company operates within the semiconductor capital equipment sector, which is characterized by high research and development costs and a cyclical demand pattern driven by global electronics consumption. ASM’s business model focuses on front-end manufacturing, providing the critical machinery used to build integrated circuits before wafers are diced into individual chips.
In addition to standard silicon applications, ASM provides specialized tools for silicon carbide (SiC) epitaxy, targeting the growing power electronics and electric vehicle markets. The company maintains a global footprint with significant operations in the United States, Europe, and Asia to support its international client base of semiconductor fabricators. Examining the historical performance of these business segments on ValueRay can provide further clarity on long-term trends. ASM also generates recurring revenue through the sale of spare parts and maintenance services for its installed equipment base.
- Transition to Gate-All-Around transistor architecture accelerates Atomic Layer Deposition equipment demand
- Expansion of logic and memory markets drives high-margin wafer processing revenue
- Export control regulations on advanced lithography tools impact sales to Chinese manufacturers
- Rising R&D expenditure for next-generation epitaxy tools pressures short-term operating margins
- Global semiconductor capital expenditure cycles dictate long-term equipment order book growth
| Net Income: 991.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -6.25 > 1.0 |
| NWC/Revenue: 48.19% < 20% (prev 43.12%; Δ 5.06% < -1%) |
| CFO/TA 0.13 > 3% & CFO 761.2m > Net Income 991.1m |
| Net Debt (-895.7m) to EBITDA (1.42b): -0.63 < 3 |
| Current Ratio: 2.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (49.1m) vs 12m ago -0.00% < -2% |
| Gross Margin: 51.80% > 18% (prev 0.51%; Δ 5.13k% > 0.5%) |
| Asset Turnover: 58.28% > 50% (prev 60.94%; Δ -2.67% > 0%) |
| Interest Coverage Ratio: 1.29k > 6 (EBITDA TTM 1.42b / Interest Expense TTM 900k) |
| A: 0.26 (Total Current Assets 2.78b - Total Current Liabilities 1.24b) / Total Assets 5.83b |
| B: 0.73 (Retained Earnings 4.24b / Total Assets 5.83b) |
| C: 0.21 (EBIT TTM 1.16b / Avg Total Assets 5.49b) |
| D: 2.75 (Book Value of Equity 4.24b / Total Liabilities 1.54b) |
| Altman-Z'' = 8.42 = AAA |
| DSRI: 1.34 (Receivables 1.12b/818.9m, Revenue 3.20b/3.13b) |
| GMI: 0.98 (GM 51.80% / 50.79%) |
| AQI: 1.02 (AQ_t 0.40 / AQ_t-1 0.39) |
| SGI: 1.02 (Revenue 3.20b / 3.13b) |
| TATA: 0.04 (NI 991.1m - CFO 761.2m) / TA 5.83b) |
| Beneish M = -2.69 (Cap -4..+1) = A |
As of May 25, 2026, the stock is trading at EUR 900.80 with a total of 160,342 shares traded.
Over the past week, the price has changed by +4.36%,
over one month by +4.25%,
over three months by +26.02% and
over the past year by +89.11%.
ASM International has no consensus analysts rating.
P/E Trailing = 42.9138
P/E Forward = 41.4938
P/S = 13.2443
P/B = 9.8898
P/EG = 1.9891
Revenue TTM = 3.20b EUR
EBIT TTM = 1.16b EUR
EBITDA TTM = 1.42b EUR
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 85.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 13.9m
Net Debt = -895.7m EUR (calculated: Debt 85.9m - CCE 981.6m)
Enterprise Value = 41.4b EUR (42.3b + Debt 85.9m - CCE 981.6m)
Interest Coverage Ratio = 1.29k (Ebit TTM 1.16b / Interest Expense TTM 900k)
EV/FCF = 88.60x (Enterprise Value 41.4b / FCF TTM 467.7m)
FCF Yield = 1.13% (FCF TTM 467.7m / Enterprise Value 41.4b)
FCF Margin = 14.63% (FCF TTM 467.7m / Revenue TTM 3.20b)
Net Margin = 31.01% (Net Income TTM 991.1m / Revenue TTM 3.20b)
Gross Margin = 51.80% ((Revenue TTM 3.20b - Cost of Revenue TTM 1.54b) / Revenue TTM)
Gross Margin QoQ = 53.31% (prev 49.79%)
Tobins Q-Ratio = 7.11 (Enterprise Value 41.4b / Total Assets 5.83b)
Interest Expense / Debt = 1.05% (Interest Expense 900k / Debt 85.9m)
Taxrate = 22.46% (69.1m / 307.6m)
NOPAT = 901.2m (EBIT 1.16b * (1 - 22.46%))
Current Ratio = 2.25 (Total Current Assets 2.78b / Total Current Liabilities 1.24b)
Debt / Equity = 0.02 (Debt 85.9m / totalStockholderEquity, last quarter 4.29b)
Debt / EBITDA = -0.63 (Net Debt -895.7m / EBITDA 1.42b)
Debt / FCF = -1.92 (Net Debt -895.7m / FCF TTM 467.7m)
Total Stockholder Equity = 3.93b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.07% (Net Income 991.1m / Total Assets 5.83b)
RoE = 25.25% (Net Income TTM 991.1m / Total Stockholder Equity 3.93b)
RoCE = 25.31% (EBIT 1.16b / Capital Employed (Total Assets 5.83b - Current Liab 1.24b))
RoIC = 19.65% (NOPAT 901.2m / Invested Capital 4.59b)
WACC = 10.82% (E(42.3b)/V(42.4b) * Re(10.84%) + D(85.9m)/V(42.4b) * Rd(1.05%) * (1-Tc(0.22)))
Discount Rate = 10.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -60.0 | Cagr: -0.33%
[DCF] Terminal Value 64.47% ; FCFF base≈574.1m ; Y1≈503.5m ; Y5≈406.8m
[DCF] Fair Price = 113.5 (EV 4.65b - Net Debt -895.7m = Equity 5.55b / Shares 48.9m; r=10.82% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 77.58 | EPS CAGR: 11.61% | SUE: 1.16 | # QB: 1
Revenue Correlation: 86.37 | Revenue CAGR: 9.57% | SUE: 1.46 | # QB: 1
EPS current Quarter (2026-06-30): EPS=5.57 | Chg30d=+19.25% | Revisions=+43% | Analysts=3
EPS next Quarter (2026-09-30): EPS=5.64 | Chg30d=+7.57% | Revisions=+43% | Analysts=3
EPS current Year (2026-12-31): EPS=22.01 | Chg30d=+16.60% | Revisions=+75% | GrowthEPS=+46.3% | GrowthRev=+24.6%
EPS next Year (2027-12-31): EPS=26.99 | Chg30d=+14.81% | Revisions=+75% | GrowthEPS=+22.6% | GrowthRev=+19.0%
[Analyst] Revisions Ratio: +75%