BESI Stock Analysis: BE Semiconductor Industries | AS
Semiconductor Equipment & Materials | AS, Netherlands | Market Cap: 13.906m EUR | 12M Return: 24.2% | NL0012866412 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 91.6M
EPS Trend: -16.4%
Qual. Beats: 0
Rev. Trend: 68.0%
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: 208.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.23 > 0.02 and ΔFCF/TA 5.96 > 1.0 |
| NWC/Revenue: 95.28% < 20% (prev 112.3%; Δ -17.07% < -1%) |
| CFO/TA 0.21 > 3% & CFO 248.4m > Net Income 208.7m |
| Net Debt (-138.2m) to EBITDA (304.5m): -0.45 < 3 |
| Current Ratio: 4.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (80.9m) vs 12m ago -0.44% < -2% |
| Gross Margin: 62.52% > 18% (prev 63.90%; Δ -1.38% > 0.5%) |
| Asset Turnover: 65.81% > 50% (prev 56.43%; Δ 9.38% > 0%) |
| Interest Coverage Ratio: 9.60 > 6 (EBIT TTM 265.9m / Interest Expense TTM 27.7m) |
| A: 0.60 (Total Current Assets 912.2m - Total Current Liabilities 213.0m) / Total Assets 1.16b |
| B: 0.11 (Retained Earnings 127.5m / Total Assets 1.16b) |
| C: 0.24 (EBIT TTM 265.9m / Avg Total Assets 1.12b) |
| D: 0.97 (Book Value of Equity 573.3m / Total Liabilities 589.6m) |
| Altman-Z'' = 6.93 = AAA |
| DSRI: 1.06 (Receivables 278.4m/215.7m, Revenue 733.8m/602.2m) |
| GMI: 1.02 (GM 63.90% / 62.52%) |
| AQI: 0.92 (AQ_t 0.16 / AQ_t-1 0.17) |
| SGI: 1.22 (Revenue 733.8m / 602.2m) |
| TATA: -0.03 (NI 208.7m - CFO 248.4m) / TA 1.16b) |
| Beneish M = -2.85 (Cap -4..+1) = A |
As of October 10, 2026, the stock is trading at EUR 179.45 with a total of 416,964 shares traded. Over the past week, the price has changed by -12.38%, over one month by -5.03%, over three months by -29.57% and over the past year by +24.20%.
Current recommended Stop Loss: 164.80 (which is 8.2% or 1.5 ATR below the current price).
BE Semiconductor Industries has no consensus analysts rating.
P/E Trailing = 67.0802
P/E Forward = 29.2398
P/S = 18.9493
P/B = 26.1576
P/EG = 0.6359
Revenue TTM = 733.8m EUR
EBIT TTM = 265.9m EUR
EBITDA TTM = 304.5m EUR
Long Term Debt = 345.1m EUR (from longTermDebt, last quarter)
Short Term Debt = 2.38m EUR (from shortTermDebt, last quarter)
Debt = 370.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 12.9m
Net Debt = -138.2m EUR (calculated: Debt 370.9m - CCE 509.1m)
Enterprise Value = 13.8b EUR (13.9b + Debt 370.9m - CCE 509.1m)
Interest Coverage Ratio = 9.60 (Ebit TTM 265.9m / Interest Expense TTM 27.7m)
EV/FCF = 51.81x (Enterprise Value 13.8b / FCF TTM 265.7m)
FCF Yield = 1.93% (FCF TTM 265.7m / Enterprise Value 13.8b)
FCF Margin = 36.21% (FCF TTM 265.7m / Revenue TTM 733.8m)
Net Margin = 28.44% (Net Income TTM 208.7m / Revenue TTM 733.8m)
Gross Margin = 62.52% ((Revenue TTM 733.8m - Cost of Revenue TTM 275.0m) / Revenue TTM)
Gross Margin QoQ = 65.66% (prev 60.30%)
Tobins Q-Ratio = 11.84 (Enterprise Value 13.8b / Total Assets 1.16b)
Interest Expense / Debt = 7.47% (Interest Expense 27.7m / Debt 370.9m)
Taxrate = 13.43% (32.4m / 241.0m)
NOPAT = 230.2m (EBIT 265.9m * (1 - 13.43%))
Current Ratio = 3.07 (Total Current Assets 912.2m / Total Current Liabilities 297.1m)
Debt / Equity = 0.65 (Debt 370.9m / totalStockholderEquity, last quarter 573.3m)
Debt / EBITDA = -0.45 (Net Debt -138.2m / EBITDA 304.5m)
Debt / FCF = -0.52 (Net Debt -138.2m / FCF TTM 265.7m)
Total Stockholder Equity = 451.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 18.71% (Net Income 208.7m / Total Assets 1.16b)
RoE = 46.17% (Net Income TTM 208.7m / Total Stockholder Equity 451.9m)
RoCE = 33.36% (EBIT 265.9m / Capital Employed (Equity 451.9m + L.T.Debt 345.1m))
RoIC = 25.14% (NOPAT 230.2m / Invested Capital 915.5m)
WACC = 11.35% (E(13.9b)/V(14.3b) * Re(11.48%) + D(370.9m)/V(14.3b) * Rd(7.47%) * (1-Tc(0.13)))
Discount Rate = 11.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -80.32 | Cagr: -0.64%
[DCF] Terminal Value 68.90% ; FCFF base≈231.5m ; Y1≈265.4m ; Y5≈390.6m
[DCF] Fair Price = 50.23 (EV 3.84b - Net Debt -138.2m = Equity 3.97b / Shares 79.1m; r=11.35% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -16.44 | EPS CAGR: -2.13% | SUE: -0.51 | # QB: 0
Revenue Correlation: 67.98 | Revenue CAGR: 5.37% | SUE: -0.34 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.31 | Chg30d=-0.25% | Revisions=+67% | Analysts=6
EPS current Year (2026-12-31): EPS=4.41 | Chg30d=+0.85% | Revisions=+50% | GrowthEPS=+165.9% | GrowthRev=+69.6%
EPS next Year (2027-12-31): EPS=6.59 | Chg30d=+1.53% | Revisions=-50% | GrowthEPS=+49.4% | GrowthRev=+34.9%
[Analyst] Revisions Ratio: +40% (up=9, down=3)