(ASM) ASM International - Ratings and Ratios
Deposition, Epitaxy, Furnace, Spare-Parts, Services
Dividends
| Dividend Yield | 0.58% |
| Yield on Cost 5y | 1.96% |
| Yield CAGR 5y | 53.14% |
| Payout Consistency | 61.6% |
| Payout Ratio | 18.4% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 42.6% |
| Value at Risk 5%th | 62.1% |
| Relative Tail Risk | -11.42% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.07 |
| Alpha | -9.70 |
| CAGR/Max DD | 0.59 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.643 |
| Beta | 0.490 |
| Beta Downside | 0.579 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.05% |
| Mean DD | 16.89% |
| Median DD | 14.43% |
Description: ASM ASM International October 14, 2025
ASM International NV (ASM) designs, manufactures, and services a broad suite of wafer-processing equipment used to deposit and treat thin films in semiconductor fabs across Europe, the United States, and Asia. Its core focus is on high-precision deposition technologies-atomic layer deposition (ALD), epitaxy, silicon-carbide (SiC) processing, plasma-enhanced chemical vapor deposition (PECVD), and low-pressure chemical vapor deposition (LPCVD)-as well as related furnace, diffusion, and oxidation platforms.
The product portfolio spans both front-end and back-end fab tools, with ALD systems accounting for roughly 30 % of global market share in advanced node manufacturing (2023 data). ASM also supplies spare parts and full-service support, positioning itself as a long-term partner for semiconductor manufacturers that require high-volume, high-yield production capability.
Financially, ASM reported FY 2023 revenue of approximately €2.4 billion, a 15 % year-over-year increase driven largely by rising demand for ALD and SiC equipment in automotive and power-electronics segments. Operating margin hovered around 18 %, and R&D expenditure remained near €300 million, reflecting the company’s commitment to maintaining technology leadership in thin-film processes.
Key macro drivers include the acceleration of 3 nm and sub-3 nm node roll-outs, which intensify the need for atomic-scale deposition precision, and the rapid growth of automotive semiconductor demand-estimated at a 12 % CAGR through 2028-fueling higher volumes of SiC and wide-bandgap device production. Supply-chain resilience initiatives in Europe also create a favorable environment for domestic equipment suppliers like ASM.
For a data-rich, comparative view of ASM’s valuation metrics and peer benchmarks, consider exploring ValueRay’s analyst platform to deepen your research.
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income (527.1m TTM) > 0 and > 6% of Revenue (6% = 195.7m TTM) |
| FCFTA 0.15 (>2.0%) and ΔFCFTA 6.92pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 38.59% (prev 42.94%; Δ -4.34pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.23 (>3.0%) and CFO 1.14b > Net Income 527.1m (YES >=105%, WARN >=100%) |
| error: Net Debt/EBITDA cannot be calculated |
| Current Ratio 2.02 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (49.1m) change vs 12m ago -0.23% (target <= -2.0% for YES) |
| Gross Margin 51.27% (prev 49.53%; Δ 1.74pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 67.92% (prev 56.91%; Δ 11.01pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 506.8 (EBITDA TTM 1.18b / Interest Expense TTM 1.88m) >= 6 (WARN >= 3) |
Altman Z'' 8.00
| (A) 0.25 = (Total Current Assets 2.49b - Total Current Liabilities 1.24b) / Total Assets 5.04b |
| (B) 0.73 = Retained Earnings (Balance) 3.69b / Total Assets 5.04b |
| (C) 0.20 = EBIT TTM 954.8m / Avg Total Assets 4.80b |
| (D) 2.51 = Book Value of Equity 3.69b / Total Liabilities 1.47b |
| Total Rating: 8.00 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 82.57
| 1. Piotroski 8.0pt |
| 2. FCF Yield 3.44% |
| 3. FCF Margin 23.12% |
| 4. Debt/Equity data missing |
| 5. Debt/Ebitda data missing |
| 6. ROIC - WACC (= 13.06)% |
| 7. RoE 14.64% |
| 8. Rev. Trend 89.20% |
| 9. EPS Trend 33.16% |
What is the price of ASM shares?
Over the past week, the price has changed by +9.02%, over one month by -6.03%, over three months by +24.42% and over the past year by +2.34%.
Is ASM a buy, sell or hold?
What are the forecasts/targets for the ASM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 626.2 | 21.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 626.1 | 21.1% |
ASM Fundamental Data Overview November 27, 2025
Market Cap EUR = 22.94b (22.94b EUR * 1.0 EUR.EUR)
P/E Trailing = 29.4724
P/E Forward = 28.4091
P/S = 6.9873
P/B = 6.0699
P/EG = 1.7246
Beta = 1.384
Revenue TTM = 3.26b EUR
EBIT TTM = 954.8m EUR
EBITDA TTM = 1.18b EUR
Long Term Debt = 23.6m EUR (from capitalLeaseObligations, last fiscal year)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 21.90b EUR (22.94b + (null Debt) - CCE 1.04b)
Interest Coverage Ratio = 506.8 (Ebit TTM 954.8m / Interest Expense TTM 1.88m)
FCF Yield = 3.44% (FCF TTM 754.2m / Enterprise Value 21.90b)
FCF Margin = 23.12% (FCF TTM 754.2m / Revenue TTM 3.26b)
Net Margin = 16.16% (Net Income TTM 527.1m / Revenue TTM 3.26b)
Gross Margin = 51.27% ((Revenue TTM 3.26b - Cost of Revenue TTM 1.59b) / Revenue TTM)
Gross Margin QoQ = 51.84% (prev 53.36%)
Tobins Q-Ratio = 4.35 (Enterprise Value 21.90b / Total Assets 5.04b)
Interest Expense / Debt = unknown (Interest Expense 1.88m / Debt none)
Taxrate = 18.06% (44.6m / 247.0m)
NOPAT = 782.4m (EBIT 954.8m * (1 - 18.06%))
Current Ratio = 2.02 (Total Current Assets 2.49b / Total Current Liabilities 1.24b)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 1.18b)
Debt / FCF = unknown (Net Debt none / FCF TTM 754.2m)
Total Stockholder Equity = 3.60b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.46% (Net Income 527.1m / Total Assets 5.04b)
RoE = 14.64% (Net Income TTM 527.1m / Total Stockholder Equity 3.60b)
RoCE = 26.34% (EBIT 954.8m / Capital Employed (Equity 3.60b + L.T.Debt 23.6m))
RoIC = 20.88% (NOPAT 782.4m / Invested Capital 3.75b)
WACC = 7.82% (E(22.94b)/V(22.94b) * Re(7.82%) + (debt-free company))
Discount Rate = 7.82% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.14%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈599.6m ; Y1≈739.7m ; Y5≈1.26b
Fair Price DCF = 439.2 (DCF Value 21.46b / Shares Outstanding 48.9m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 33.16 | EPS CAGR: 11.10% | SUE: 0.63 | # QB: 0
Revenue Correlation: 89.20 | Revenue CAGR: 19.17% | SUE: -0.93 | # QB: 0
EPS next Quarter (2026-03-31): EPS=3.31 | Chg30d=-0.305 | Revisions Net=-1 | Analysts=4
EPS next Year (2026-12-31): EPS=15.89 | Chg30d=-0.686 | Revisions Net=-4 | Growth EPS=+13.4% | Growth Revenue=+6.6%