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ASM INTERNATIONAL NV (ASM.AS) Stock Fundamental Analysis

AMS:ASM - Euronext Amsterdam - NL0000334118 - Common Stock - Currency: EUR

441.9  -10.1 (-2.23%)

Fundamental Rating

6

Overall ASM gets a fundamental rating of 6 out of 10. We evaluated ASM against 54 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASM has a great health rating, its profitability is only average at the moment. ASM is growing strongly while it is still valued neutral. This is a good combination! With these ratings, ASM could be worth investigating further for growth investing!.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

ASM had positive earnings in the past year.
ASM had a positive operating cash flow in the past year.
ASM had positive earnings in each of the past 5 years.
Each year in the past 5 years ASM had a positive operating cash flow.
ASM.AS Yearly Net Income VS EBIT VS OCF VS FCFASM.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

1.2 Ratios

ASM has a Return On Assets of 15.01%. This is in the better half of the industry: ASM outperforms 75.93% of its industry peers.
Looking at the Return On Equity, with a value of 20.11%, ASM is in the better half of the industry, outperforming 64.81% of the companies in the same industry.
The Return On Invested Capital of ASM (17.79%) is better than 79.63% of its industry peers.
Industry RankSector Rank
ROA 15.01%
ROE 20.11%
ROIC 17.79%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ASM.AS Yearly ROA, ROE, ROICASM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

ASM's Profit Margin of 23.38% is fine compared to the rest of the industry. ASM outperforms 74.07% of its industry peers.
ASM's Profit Margin has declined in the last couple of years.
The Operating Margin of ASM (27.13%) is better than 74.07% of its industry peers.
In the last couple of years the Operating Margin of ASM has grown nicely.
ASM has a Gross Margin of 50.51%. This is in the better half of the industry: ASM outperforms 68.52% of its industry peers.
In the last couple of years the Gross Margin of ASM has grown nicely.
Industry RankSector Rank
OM 27.13%
PM (TTM) 23.38%
GM 50.51%
OM growth 3Y-1.4%
OM growth 5Y6.33%
PM growth 3Y-6.49%
PM growth 5Y-4.38%
GM growth 3Y1.81%
GM growth 5Y3.46%
ASM.AS Yearly Profit, Operating, Gross MarginsASM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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7

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ASM is creating some value.
There is no outstanding debt for ASM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
ASM.AS Yearly Shares OutstandingASM.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
ASM.AS Yearly Total Debt VS Total AssetsASM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

2.2 Solvency

An Altman-Z score of 14.11 indicates that ASM is not in any danger for bankruptcy at the moment.
ASM's Altman-Z score of 14.11 is amongst the best of the industry. ASM outperforms 90.74% of its industry peers.
The Debt to FCF ratio of ASM is 0.04, which is an excellent value as it means it would take ASM, only 0.04 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of ASM (0.04) is better than 100.00% of its industry peers.
A Debt/Equity ratio of 0.01 indicates that ASM is not too dependend on debt financing.
ASM has a Debt to Equity ratio of 0.01. This is amongst the best in the industry. ASM outperforms 98.15% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.04
Altman-Z 14.11
ROIC/WACC1.78
WACC10%
ASM.AS Yearly LT Debt VS Equity VS FCFASM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

ASM has a Current Ratio of 2.30. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
ASM's Current ratio of 2.30 is in line compared to the rest of the industry. ASM outperforms 51.85% of its industry peers.
A Quick Ratio of 1.62 indicates that ASM should not have too much problems paying its short term obligations.
ASM has a Quick ratio of 1.62. This is comparable to the rest of the industry: ASM outperforms 48.15% of its industry peers.
Industry RankSector Rank
Current Ratio 2.3
Quick Ratio 1.62
ASM.AS Yearly Current Assets VS Current LiabilitesASM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 21.93% over the past year.
Measured over the past years, ASM shows a very strong growth in Earnings Per Share. The EPS has been growing by 22.75% on average per year.
Looking at the last year, ASM shows a quite strong growth in Revenue. The Revenue has grown by 11.33% in the last year.
Measured over the past years, ASM shows a very strong growth in Revenue. The Revenue has been growing by 21.13% on average per year.
EPS 1Y (TTM)21.93%
EPS 3Y11.54%
EPS 5Y22.75%
EPS Q2Q%131.03%
Revenue 1Y (TTM)11.33%
Revenue growth 3Y19.24%
Revenue growth 5Y21.13%
Sales Q2Q%27.83%

3.2 Future

ASM is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.58% yearly.
ASM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.96% yearly.
EPS Next Y23.23%
EPS Next 2Y23.26%
EPS Next 3Y21.41%
EPS Next 5Y17.58%
Revenue Next Year21.32%
Revenue Next 2Y20.07%
Revenue Next 3Y18.06%
Revenue Next 5Y13.96%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
ASM.AS Yearly Revenue VS EstimatesASM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B
ASM.AS Yearly EPS VS EstimatesASM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 10 20 30 40

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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 30.79, the valuation of ASM can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of ASM is on the same level as its industry peers.
When comparing the Price/Earnings ratio of ASM to the average of the S&P500 Index (28.81), we can say ASM is valued inline with the index average.
A Price/Forward Earnings ratio of 24.99 indicates a rather expensive valuation of ASM.
ASM's Price/Forward Earnings ratio is in line with the industry average.
ASM's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 21.91.
Industry RankSector Rank
PE 30.79
Fwd PE 24.99
ASM.AS Price Earnings VS Forward Price EarningsASM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

ASM's Enterprise Value to EBITDA ratio is in line with the industry average.
ASM's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 40.9
EV/EBITDA 21.87
ASM.AS Per share dataASM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

ASM's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of ASM may justify a higher PE ratio.
ASM's earnings are expected to grow with 21.41% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.33
PEG (5Y)1.35
EPS Next 2Y23.26%
EPS Next 3Y21.41%

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.69%, ASM is not a good candidate for dividend investing.
In the last 3 months the price of ASM has falen by -21.93%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
Compared to an average industry Dividend Yield of 1.48, ASM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.39, ASM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.69%

5.2 History

The dividend of ASM is nicely growing with an annual growth rate of 24.79%!
Dividend Growth(5Y)24.79%
Div Incr Years1
Div Non Decr Years4
ASM.AS Yearly Dividends per shareASM.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

19.76% of the earnings are spent on dividend by ASM. This is a low number and sustainable payout ratio.
The dividend of ASM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP19.76%
EPS Next 2Y23.26%
EPS Next 3Y21.41%
ASM.AS Yearly Income VS Free CF VS DividendASM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
ASM.AS Dividend Payout.ASM.AS Dividend Payout, showing the Payout Ratio.ASM.AS Dividend Payout.PayoutRetained Earnings

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ASM INTERNATIONAL NV

AMS:ASM (3/27/2025, 7:00:00 PM)

441.9

-10.1 (-2.23%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-25 2025-02-25/amc
Earnings (Next)04-29 2025-04-29/bmo
Inst Owners57.78%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap21.80B
Analysts77.04
Price Target700.79 (58.59%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.69%
Yearly Dividend2.5
Dividend Growth(5Y)24.79%
DP19.76%
Div Incr Years1
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.18%
Min EPS beat(2)-23.98%
Max EPS beat(2)30.35%
EPS beat(4)2
Avg EPS beat(4)7.82%
Min EPS beat(4)-23.98%
Max EPS beat(4)30.35%
EPS beat(8)3
Avg EPS beat(8)1.08%
EPS beat(12)5
Avg EPS beat(12)1.73%
EPS beat(16)8
Avg EPS beat(16)5.19%
Revenue beat(2)2
Avg Revenue beat(2)0.65%
Min Revenue beat(2)0.52%
Max Revenue beat(2)0.79%
Revenue beat(4)3
Avg Revenue beat(4)0.69%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)2.03%
Revenue beat(8)6
Avg Revenue beat(8)0.56%
Revenue beat(12)7
Avg Revenue beat(12)0.46%
Revenue beat(16)9
Avg Revenue beat(16)0.52%
PT rev (1m)-0.62%
PT rev (3m)-0.49%
EPS NQ rev (1m)0.35%
EPS NQ rev (3m)0.93%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.44%
Revenue NQ rev (1m)1.88%
Revenue NQ rev (3m)1.91%
Revenue NY rev (1m)-0.67%
Revenue NY rev (3m)-2.56%
Valuation
Industry RankSector Rank
PE 30.79
Fwd PE 24.99
P/S 7.43
P/FCF 40.9
P/OCF 24.28
P/B 6.39
P/tB 9.4
EV/EBITDA 21.87
EPS(TTM)14.35
EY3.25%
EPS(NY)17.68
Fwd EY4%
FCF(TTM)10.8
FCFY2.44%
OCF(TTM)18.2
OCFY4.12%
SpS59.45
BVpS69.13
TBVpS47.02
PEG (NY)1.33
PEG (5Y)1.35
Profitability
Industry RankSector Rank
ROA 15.01%
ROE 20.11%
ROCE 21.46%
ROIC 17.79%
ROICexc 21.48%
ROICexgc 33.31%
OM 27.13%
PM (TTM) 23.38%
GM 50.51%
FCFM 18.17%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-1.4%
OM growth 5Y6.33%
PM growth 3Y-6.49%
PM growth 5Y-4.38%
GM growth 3Y1.81%
GM growth 5Y3.46%
F-Score7
Asset Turnover0.64
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.04
Debt/EBITDA 0.02
Cap/Depr 186.28%
Cap/Sales 12.44%
Interest Coverage 250
Cash Conversion 90.54%
Profit Quality 77.72%
Current Ratio 2.3
Quick Ratio 1.62
Altman-Z 14.11
F-Score7
WACC10%
ROIC/WACC1.78
Cap/Depr(3y)177.39%
Cap/Depr(5y)175.83%
Cap/Sales(3y)11.05%
Cap/Sales(5y)10.89%
Profit Quality(3y)72.97%
Profit Quality(5y)59.94%
High Growth Momentum
Growth
EPS 1Y (TTM)21.93%
EPS 3Y11.54%
EPS 5Y22.75%
EPS Q2Q%131.03%
EPS Next Y23.23%
EPS Next 2Y23.26%
EPS Next 3Y21.41%
EPS Next 5Y17.58%
Revenue 1Y (TTM)11.33%
Revenue growth 3Y19.24%
Revenue growth 5Y21.13%
Sales Q2Q%27.83%
Revenue Next Year21.32%
Revenue Next 2Y20.07%
Revenue Next 3Y18.06%
Revenue Next 5Y13.96%
EBIT growth 1Y21.25%
EBIT growth 3Y17.57%
EBIT growth 5Y28.8%
EBIT Next Year53.42%
EBIT Next 3Y27.7%
EBIT Next 5Y21.61%
FCF growth 1Y27.44%
FCF growth 3Y33.54%
FCF growth 5Y7.13%
OCF growth 1Y21.98%
OCF growth 3Y33.11%
OCF growth 5Y12.92%