ASM INTERNATIONAL NV (ASM.AS) Fundamental Analysis & Valuation

AMS:ASM • NL0000334118

Current stock price

742.2 EUR
-15.6 (-2.06%)
Last:

This ASM.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. ASM.AS Profitability Analysis

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.
  • In the past 5 years ASM always reported a positive cash flow from operatings.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 13.56%, ASM is in the better half of the industry, outperforming 74.65% of the companies in the same industry.
  • The Return On Equity of ASM (18.07%) is comparable to the rest of the industry.
  • ASM has a Return On Invested Capital of 17.35%. This is in the better half of the industry: ASM outperforms 76.06% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ASM is in line with the industry average of 14.74%.
  • The 3 year average ROIC (15.99%) for ASM is below the current ROIC(17.35%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 13.56%
ROE 18.07%
ROIC 17.35%
ROA(3y)14.88%
ROA(5y)14.65%
ROE(3y)19.89%
ROE(5y)19.18%
ROIC(3y)15.99%
ROIC(5y)16.28%
ASM.AS Yearly ROA, ROE, ROICASM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • ASM's Profit Margin of 22.81% is fine compared to the rest of the industry. ASM outperforms 70.42% of its industry peers.
  • ASM's Profit Margin has been stable in the last couple of years.
  • ASM's Operating Margin of 29.87% is fine compared to the rest of the industry. ASM outperforms 77.46% of its industry peers.
  • ASM's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 51.79%, ASM is in the better half of the industry, outperforming 60.56% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ASM has grown nicely.
Industry RankSector Rank
OM 29.87%
PM (TTM) 22.81%
GM 51.79%
OM growth 3Y4.49%
OM growth 5Y3.34%
PM growth 3Y12.22%
PM growth 5Y1.2%
GM growth 3Y3%
GM growth 5Y1.98%
ASM.AS Yearly Profit, Operating, Gross MarginsASM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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8

2. ASM.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ASM is still creating some value.
  • ASM has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ASM has more shares outstanding
  • The debt/assets ratio for ASM has been reduced compared to a year ago.
ASM.AS Yearly Shares OutstandingASM.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • ASM has an Altman-Z score of 19.43. This indicates that ASM is financially healthy and has little risk of bankruptcy at the moment.
  • ASM has a better Altman-Z score (19.43) than 87.32% of its industry peers.
  • ASM has a debt to FCF ratio of 0.13. This is a very positive value and a sign of high solvency as it would only need 0.13 years to pay back of all of its debts.
  • ASM has a Debt to FCF ratio of 0.13. This is amongst the best in the industry. ASM outperforms 91.55% of its industry peers.
  • ASM has a Debt/Equity ratio of 0.02. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of ASM (0.02) is better than 91.55% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.13
Altman-Z 19.43
ROIC/WACC1.54
WACC11.27%
ASM.AS Yearly LT Debt VS Equity VS FCFASM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • ASM has a Current Ratio of 2.25. This indicates that ASM is financially healthy and has no problem in meeting its short term obligations.
  • ASM has a Current ratio (2.25) which is comparable to the rest of the industry.
  • ASM has a Quick Ratio of 1.72. This is a normal value and indicates that ASM is financially healthy and should not expect problems in meeting its short term obligations.
  • ASM has a Quick ratio (1.72) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.25
Quick Ratio 1.72
ASM.AS Yearly Current Assets VS Current LiabilitesASM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

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6

3. ASM.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 4.60% over the past year.
  • The Earnings Per Share has been growing by 19.97% on average over the past years. This is quite good.
  • ASM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.20%.
  • The Revenue has been growing by 19.03% on average over the past years. This is quite good.
EPS 1Y (TTM)4.6%
EPS 3Y5.5%
EPS 5Y19.97%
EPS Q2Q%-26.44%
Revenue 1Y (TTM)8.2%
Revenue growth 3Y9.59%
Revenue growth 5Y19.03%
Sales Q2Q%-13.68%

3.2 Future

  • The Earnings Per Share is expected to grow by 19.41% on average over the next years. This is quite good.
  • Based on estimates for the next years, ASM will show a quite strong growth in Revenue. The Revenue will grow by 14.05% on average per year.
EPS Next Y26.83%
EPS Next 2Y25.49%
EPS Next 3Y22.11%
EPS Next 5Y19.41%
Revenue Next Year16.22%
Revenue Next 2Y17.85%
Revenue Next 3Y16.18%
Revenue Next 5Y14.05%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last 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 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B 8B
ASM.AS Yearly EPS VS EstimatesASM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 10 20 30 40

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2

4. ASM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 49.45, the valuation of ASM can be described as expensive.
  • ASM's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.18. ASM is valued rather expensively when compared to this.
  • A Price/Forward Earnings ratio of 38.99 indicates a quite expensive valuation of ASM.
  • Based on the Price/Forward Earnings ratio, ASM is valued a bit more expensive than the industry average as 66.20% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of ASM to the average of the S&P500 Index (37.96), we can say ASM is valued inline with the index average.
Industry RankSector Rank
PE 49.45
Fwd PE 38.99
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 40 50

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASM.
  • ASM's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 61.79
EV/EBITDA 30.39
ASM.AS Per share dataASM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ASM does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of ASM may justify a higher PE ratio.
  • ASM's earnings are expected to grow with 22.11% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.84
PEG (5Y)2.48
EPS Next 2Y25.49%
EPS Next 3Y22.11%

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4

5. ASM.AS Dividend Analysis

5.1 Amount

  • ASM has a yearly dividend return of 0.44%, which is pretty low.
  • ASM's Dividend Yield is comparable with the industry average which is at 0.65.
  • With a Dividend Yield of 0.44, ASM pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.44%

5.2 History

  • The dividend of ASM is nicely growing with an annual growth rate of 8.25%!
Dividend Growth(5Y)8.25%
Div Incr Years3
Div Non Decr Years6
ASM.AS Yearly Dividends per shareASM.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • ASM pays out 20.35% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of ASM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP20.35%
EPS Next 2Y25.49%
EPS Next 3Y22.11%
ASM.AS Yearly Income VS Free CF VS DividendASM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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.AS Fundamentals: All Metrics, Ratios and Statistics

ASM INTERNATIONAL NV

AMS:ASM (4/13/2026, 7:00:00 PM)

742.2

-15.6 (-2.06%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)03-03
Earnings (Next)04-21
Inst Owners60.31%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap36.61B
Revenue(TTM)3.17B
Net Income(TTM)723.80M
Analysts77.69
Price Target815.73 (9.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.44%
Yearly Dividend3.01
Dividend Growth(5Y)8.25%
DP20.35%
Div Incr Years3
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.17%
Min EPS beat(2)14.11%
Max EPS beat(2)16.23%
EPS beat(4)2
Avg EPS beat(4)2.88%
Min EPS beat(4)-15.47%
Max EPS beat(4)16.23%
EPS beat(8)4
Avg EPS beat(8)5.35%
EPS beat(12)5
Avg EPS beat(12)1.68%
EPS beat(16)7
Avg EPS beat(16)2.02%
Revenue beat(2)1
Avg Revenue beat(2)-0.16%
Min Revenue beat(2)-0.93%
Max Revenue beat(2)0.62%
Revenue beat(4)1
Avg Revenue beat(4)-0.57%
Min Revenue beat(4)-1.28%
Max Revenue beat(4)0.62%
Revenue beat(8)4
Avg Revenue beat(8)0.06%
Revenue beat(12)7
Avg Revenue beat(12)0.19%
Revenue beat(16)8
Avg Revenue beat(16)0.2%
PT rev (1m)7.34%
PT rev (3m)29.41%
EPS NQ rev (1m)0.82%
EPS NQ rev (3m)17.69%
EPS NY rev (1m)7.9%
EPS NY rev (3m)16.77%
Revenue NQ rev (1m)0.95%
Revenue NQ rev (3m)14.16%
Revenue NY rev (1m)4.12%
Revenue NY rev (3m)8.59%
Valuation
Industry RankSector Rank
PE 49.45
Fwd PE 38.99
P/S 11.54
P/FCF 61.79
P/OCF 34.51
P/B 9.14
P/tB 13.72
EV/EBITDA 30.39
EPS(TTM)15.01
EY2.02%
EPS(NY)19.04
Fwd EY2.56%
FCF(TTM)12.01
FCFY1.62%
OCF(TTM)21.5
OCFY2.9%
SpS64.33
BVpS81.2
TBVpS54.11
PEG (NY)1.84
PEG (5Y)2.48
Graham Number165.6
Profitability
Industry RankSector Rank
ROA 13.56%
ROE 18.07%
ROCE 22.07%
ROIC 17.35%
ROICexc 22.8%
ROICexgc 38.57%
OM 29.87%
PM (TTM) 22.81%
GM 51.79%
FCFM 18.67%
ROA(3y)14.88%
ROA(5y)14.65%
ROE(3y)19.89%
ROE(5y)19.18%
ROIC(3y)15.99%
ROIC(5y)16.28%
ROICexc(3y)20.51%
ROICexc(5y)20.68%
ROICexgc(3y)33.29%
ROICexgc(5y)31.63%
ROCE(3y)20.33%
ROCE(5y)20.71%
ROICexgc growth 3Y6.93%
ROICexgc growth 5Y12.44%
ROICexc growth 3Y5.28%
ROICexc growth 5Y4.61%
OM growth 3Y4.49%
OM growth 5Y3.34%
PM growth 3Y12.22%
PM growth 5Y1.2%
GM growth 3Y3%
GM growth 5Y1.98%
F-Score8
Asset Turnover0.59
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.13
Debt/EBITDA 0.05
Cap/Depr 186.57%
Cap/Sales 14.76%
Interest Coverage 250
Cash Conversion 88.48%
Profit Quality 81.86%
Current Ratio 2.25
Quick Ratio 1.72
Altman-Z 19.43
F-Score8
WACC11.27%
ROIC/WACC1.54
Cap/Depr(3y)182.83%
Cap/Depr(5y)176.57%
Cap/Sales(3y)13.09%
Cap/Sales(5y)11.39%
Profit Quality(3y)71.73%
Profit Quality(5y)69.2%
High Growth Momentum
Growth
EPS 1Y (TTM)4.6%
EPS 3Y5.5%
EPS 5Y19.97%
EPS Q2Q%-26.44%
EPS Next Y26.83%
EPS Next 2Y25.49%
EPS Next 3Y22.11%
EPS Next 5Y19.41%
Revenue 1Y (TTM)8.2%
Revenue growth 3Y9.59%
Revenue growth 5Y19.03%
Sales Q2Q%-13.68%
Revenue Next Year16.22%
Revenue Next 2Y17.85%
Revenue Next 3Y16.18%
Revenue Next 5Y14.05%
EBIT growth 1Y19.07%
EBIT growth 3Y14.51%
EBIT growth 5Y23%
EBIT Next Year48.55%
EBIT Next 3Y27.32%
EBIT Next 5Y19.82%
FCF growth 1Y11.18%
FCF growth 3Y21.17%
FCF growth 5Y42.3%
OCF growth 1Y18.17%
OCF growth 3Y25.13%
OCF growth 5Y32.04%

ASM INTERNATIONAL NV / ASM.AS Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for ASM INTERNATIONAL NV?

ChartMill assigns a fundamental rating of 6 / 10 to ASM.AS.


Can you provide the valuation status for ASM INTERNATIONAL NV?

ChartMill assigns a valuation rating of 2 / 10 to ASM INTERNATIONAL NV (ASM.AS). This can be considered as Overvalued.


What is the profitability of ASM stock?

ASM INTERNATIONAL NV (ASM.AS) has a profitability rating of 7 / 10.


Can you provide the financial health for ASM stock?

The financial health rating of ASM INTERNATIONAL NV (ASM.AS) is 8 / 10.


Can you provide the dividend sustainability for ASM stock?

The dividend rating of ASM INTERNATIONAL NV (ASM.AS) is 4 / 10 and the dividend payout ratio is 20.35%.