BESI Stock Analysis: BE Semiconductor Industries | AS
Semiconductor Equipment & Materials | AS, Netherlands | Market Cap: 12.183m EUR | 12M Return: 4.8% | NL0012866412 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 100M
EPS Trend: 25.7%
Qual. Beats: 0
Rev. Trend: 68.9%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
BE Semiconductor Industries N.V. (BESI) is a Dutch supplier of semiconductor assembly equipment, listed on Euronext Amsterdam and classified within the GICS Semiconductor Materials & Equipment sub-industry. The company operates through three segments - Die Attach, Packaging, and Plating - offering die bonding systems, molding/trim/form/singulation systems, and metal plating systems (including related chemicals). Its products are sold under the Fico, Meco, Datacon, and Esec brands to a global customer base of multinational chip manufacturers, foundries, assembly subcontractors, and electronics/industrial companies across Europe, Asia, and other international markets. Founded in 1995 and headquartered in Duiven, the Netherlands, BESI is a large-cap company with a market capitalization of approximately $17.1 billion USD.
BESI operates in the back-end segment of the semiconductor supply chain, providing capital equipment used after wafer fabrication to assemble, package, and interconnect chips. Demand for its tools is closely tied to trends in advanced packaging - such as flip-chip, wafer-level packaging, and hybrid bonding - which have become increasingly important as chipmakers adopt heterogeneous integration and chiplet architectures to sustain performance gains.
- Hybrid bonding equipment orders surge on AI and HBM chip demand
- China revenue exposure rises amid US semiconductor export controls
- Die Attach segment margins expand with advanced packaging mix shift
| Net Income: 290.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.27 > 0.02 and ΔFCF/TA 12.53 > 1.0 |
| NWC/Revenue: 90.31% < 20% (prev 117.0%; Δ -26.69% < -1%) |
| CFO/TA 0.23 > 3% & CFO 295.8m > Net Income 290.6m |
| Net Debt (-226.5m) to EBITDA (400.2m): -0.57 < 3 |
| Current Ratio: 4.49 > 1.5 & < 3 |
| Outstanding Shares: last quarter (80.9m) vs 12m ago -0.34% < -2% |
| Gross Margin: 63.36% > 18% (prev 62.34%; Δ 1.02% > 0.5%) |
| Asset Turnover: 75.72% > 50% (prev 54.14%; Δ 21.59% > 0%) |
| Interest Coverage Ratio: 13.90 > 6 (EBIT TTM 360.5m / Interest Expense TTM 25.9m) |
| A: 0.63 (Total Current Assets 1.03b - Total Current Liabilities 229.1m) / Total Assets 1.27b |
| B: 0.09 (Retained Earnings 118.8m / Total Assets 1.27b) |
| C: 0.31 (EBIT TTM 360.5m / Avg Total Assets 1.17b) |
| D: 1.09 (Book Value of Equity 662.1m / Total Liabilities 605.6m) |
| Altman-Z'' = 7.66 = AAA |
| DSRI: 1.20 (Receivables 274.6m/150.1m, Revenue 884.5m/578.4m) |
| GMI: 0.98 (GM 62.34% / 63.36%) |
| AQI: 0.78 (AQ_t 0.13 / AQ_t-1 0.17) |
| SGI: 1.53 (Revenue 884.5m / 578.4m) |
| TATA: -0.00 (NI 290.6m - CFO 295.8m) / TA 1.27b) |
| Beneish M = -2.63 (Cap -4..+1) = A |
As of November 07, 2026, the stock is trading at EUR 143.40 with a total of 724,374 shares traded. Over the past week, the price has changed by -6.88%, over one month by -25.33%, over three months by -33.98% and over the past year by +4.76%.
Current recommended Stop Loss: 130.60 (which is 8.9% or 1.4 ATR below the current price).
BE Semiconductor Industries has no consensus analysts rating.
P/E Trailing = 40.0
P/E Forward = 23.8663
P/S = 13.7734
P/B = 19.5175
P/EG = 0.5314
Revenue TTM = 884.5m EUR
EBIT TTM = 360.5m EUR
EBITDA TTM = 400.2m EUR
Long Term Debt = 345.3m EUR (from longTermDebt, last quarter)
Short Term Debt = 2.38m EUR (from shortTermDebt, two quarters ago)
Debt = 365.4m EUR (from shortLongTermDebtTotal, last quarter) + Leases 10.0m
Net Debt = -226.5m EUR (calculated: Debt 365.4m - CCE 591.9m)
Enterprise Value = 12.0b EUR (12.2b + Debt 365.4m - CCE 591.9m)
Interest Coverage Ratio = 13.90 (Ebit TTM 360.5m / Interest Expense TTM 25.9m)
EV/FCF = 34.36x (Enterprise Value 12.0b / FCF TTM 348.0m)
FCF Yield = 2.91% (FCF TTM 348.0m / Enterprise Value 12.0b)
FCF Margin = 39.34% (FCF TTM 348.0m / Revenue TTM 884.5m)
Net Margin = 32.85% (Net Income TTM 290.6m / Revenue TTM 884.5m)
Gross Margin = 63.36% ((Revenue TTM 884.5m - Cost of Revenue TTM 324.0m) / Revenue TTM)
Gross Margin QoQ = 63.05% (prev 65.66%)
Tobins Q-Ratio = 9.43 (Enterprise Value 12.0b / Total Assets 1.27b)
Interest Expense / Debt = 7.10% (Interest Expense 25.9m / Debt 365.4m)
Taxrate = 13.44% (45.1m / 335.7m)
NOPAT = 312.1m (EBIT 360.5m * (1 - 13.44%))
Current Ratio = 3.22 (Total Current Assets 1.03b / Total Current Liabilities 319.6m)
Debt / Equity = 0.55 (Debt 365.4m / totalStockholderEquity, last quarter 662.1m)
Debt / EBITDA = -0.57 (Net Debt -226.5m / EBITDA 400.2m)
Debt / FCF = -0.65 (Net Debt -226.5m / FCF TTM 348.0m)
Total Stockholder Equity = 527.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 24.88% (Net Income 290.6m / Total Assets 1.27b)
RoE = 55.12% (Net Income TTM 290.6m / Total Stockholder Equity 527.2m)
RoCE = 41.32% (EBIT 360.5m / Capital Employed (Equity 527.2m + L.T.Debt 345.3m))
RoIC = 31.38% (NOPAT 312.1m / Invested Capital 994.5m)
WACC = 10.75% (E(12.2b)/V(12.5b) * Re(10.89%) + D(365.4m)/V(12.5b) * Rd(7.10%) * (1-Tc(0.13)))
Discount Rate = 10.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -68.52 | Cagr: -0.57%
[DCF] Terminal Value 70.61% ; FCFF base≈272.6m ; Y1≈312.4m ; Y5≈459.8m
[DCF] Fair Price = 64.23 (EV 4.85b - Net Debt -226.5m = Equity 5.08b / Shares 79.1m; r=10.75% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 25.68 | EPS CAGR: 5.68% | SUE: 0.32 | # QB: 0
Revenue Correlation: 68.93 | Revenue CAGR: 10.07% | SUE: 0.00 | # QB: 0
EPS current Quarter (2027-03-31): EPS=1.39 | Chg30d=+2.86% | Revisions=+29% | Analysts=5
EPS current Year (2026-12-31): EPS=4.44 | Chg30d=+0.56% | Revisions=+57% | GrowthEPS=+167.2% | GrowthRev=+69.4%
EPS next Year (2027-12-31): EPS=6.51 | Chg30d=-1.16% | Revisions=-44% | GrowthEPS=+46.9% | GrowthRev=+33.6%
[Analyst] Revisions Ratio: +12% (up=8, down=6)