BE SEMICONDUCTOR INDUSTRIES (BESI.AS) Fundamental Analysis & Valuation

AMS:BESI • NL0012866412

Current stock price

185.925 EUR
+2.08 (+1.13%)
Last:

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

6

1. BESI.AS Profitability Analysis

1.1 Basic Checks

  • In the past year BESI was profitable.
  • In the past year BESI had a positive cash flow from operations.
  • In the past 5 years BESI has always been profitable.
  • Each year in the past 5 years BESI had a positive operating cash flow.
BESI.AS Yearly Net Income VS EBIT VS OCF VS FCFBESI.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 100M 200M 300M

1.2 Ratios

  • BESI has a Return On Assets of 11.82%. This is in the better half of the industry: BESI outperforms 62.69% of its industry peers.
  • With an excellent Return On Equity value of 31.61%, BESI belongs to the best of the industry, outperforming 83.58% of the companies in the same industry.
  • BESI has a Return On Invested Capital of 13.53%. This is in the better half of the industry: BESI outperforms 64.18% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for BESI is in line with the industry average of 14.50%.
Industry RankSector Rank
ROA 11.82%
ROE 31.61%
ROIC 13.53%
ROA(3y)15.44%
ROA(5y)18.44%
ROE(3y)36.65%
ROE(5y)38.77%
ROIC(3y)16.12%
ROIC(5y)19.1%
BESI.AS Yearly ROA, ROE, ROICBESI.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • BESI has a Profit Margin of 22.26%. This is in the better half of the industry: BESI outperforms 67.16% of its industry peers.
  • BESI's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 29.27%, BESI is in the better half of the industry, outperforming 68.66% of the companies in the same industry.
  • BESI's Operating Margin has declined in the last couple of years.
  • BESI has a Gross Margin of 63.29%. This is amongst the best in the industry. BESI outperforms 88.06% of its industry peers.
  • In the last couple of years the Gross Margin of BESI has remained more or less at the same level.
Industry RankSector Rank
OM 29.27%
PM (TTM) 22.26%
GM 63.29%
OM growth 3Y-10.35%
OM growth 5Y-3.24%
PM growth 3Y-12.55%
PM growth 5Y-6.11%
GM growth 3Y1.08%
GM growth 5Y1.2%
BESI.AS Yearly Profit, Operating, Gross MarginsBESI.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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6

2. BESI.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BESI is still creating some value.
  • The number of shares outstanding for BESI remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for BESI has been increased compared to 5 years ago.
  • BESI has a worse debt/assets ratio than last year.
BESI.AS Yearly Shares OutstandingBESI.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
BESI.AS Yearly Total Debt VS Total AssetsBESI.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • An Altman-Z score of 14.98 indicates that BESI is not in any danger for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 14.98, BESI belongs to the best of the industry, outperforming 83.58% of the companies in the same industry.
  • BESI has a debt to FCF ratio of 3.82. This is a good value and a sign of high solvency as BESI would need 3.82 years to pay back of all of its debts.
  • BESI's Debt to FCF ratio of 3.82 is in line compared to the rest of the industry. BESI outperforms 44.78% of its industry peers.
  • BESI has a Debt/Equity ratio of 1.24. This is a high value indicating a heavy dependency on external financing.
  • BESI has a Debt to Equity ratio of 1.24. This is amonst the worse of the industry: BESI underperforms 95.52% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.24
Debt/FCF 3.82
Altman-Z 14.98
ROIC/WACC1.23
WACC11.04%
BESI.AS Yearly LT Debt VS Equity VS FCFBESI.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.3 Liquidity

  • BESI has a Current Ratio of 5.55. This indicates that BESI is financially healthy and has no problem in meeting its short term obligations.
  • BESI has a Current ratio of 5.55. This is amongst the best in the industry. BESI outperforms 92.54% of its industry peers.
  • A Quick Ratio of 4.88 indicates that BESI has no problem at all paying its short term obligations.
  • The Quick ratio of BESI (4.88) is better than 95.52% of its industry peers.
Industry RankSector Rank
Current Ratio 5.55
Quick Ratio 4.88
BESI.AS Yearly Current Assets VS Current LiabilitesBESI.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. BESI.AS Growth Analysis

3.1 Past

  • The earnings per share for BESI have decreased strongly by -27.83% in the last year.
  • Measured over the past years, BESI shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.12% on average per year.
  • Looking at the last year, BESI shows a decrease in Revenue. The Revenue has decreased by -2.66% in the last year.
  • BESI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.40% yearly.
EPS 1Y (TTM)-27.83%
EPS 3Y-16.97%
EPS 5Y-0.12%
EPS Q2Q%-27.03%
Revenue 1Y (TTM)-2.66%
Revenue growth 3Y-6.48%
Revenue growth 5Y6.4%
Sales Q2Q%8.44%

3.2 Future

  • Based on estimates for the next years, BESI will show a very strong growth in Earnings Per Share. The EPS will grow by 39.79% on average per year.
  • The Revenue is expected to grow by 24.20% on average over the next years. This is a very strong growth
EPS Next Y114.78%
EPS Next 2Y78.69%
EPS Next 3Y59.62%
EPS Next 5Y39.79%
Revenue Next Year45.55%
Revenue Next 2Y38.35%
Revenue Next 3Y32.03%
Revenue Next 5Y24.2%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BESI.AS Yearly Revenue VS EstimatesBESI.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 500M 1B 1.5B 2B
BESI.AS Yearly EPS VS EstimatesBESI.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8 10

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2

4. BESI.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 112.00, which means the current valuation is very expensive for BESI.
  • Based on the Price/Earnings ratio, BESI is valued more expensive than 86.57% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.73. BESI is valued rather expensively when compared to this.
  • Based on the Price/Forward Earnings ratio of 52.15, the valuation of BESI can be described as expensive.
  • BESI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. BESI is more expensive than 79.10% of the companies in the same industry.
  • BESI is valuated expensively when we compare the Price/Forward Earnings ratio to 23.72, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 112
Fwd PE 52.15
BESI.AS Price Earnings VS Forward Price EarningsBESI.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • 91.04% of the companies in the same industry are cheaper than BESI, based on the Enterprise Value to EBITDA ratio.
  • BESI's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. BESI is more expensive than 65.67% of the companies in the same industry.
Industry RankSector Rank
P/FCF 110.65
EV/EBITDA 69.84
BESI.AS Per share dataBESI.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of BESI may justify a higher PE ratio.
  • BESI's earnings are expected to grow with 59.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.98
PEG (5Y)N/A
EPS Next 2Y78.69%
EPS Next 3Y59.62%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. BESI.AS Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.90%, BESI is not a good candidate for dividend investing.
  • BESI's Dividend Yield is a higher than the industry average which is at 0.84.
  • Compared to an average S&P500 Dividend Yield of 1.91, BESI's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.9%

5.2 History

  • The dividend of BESI is nicely growing with an annual growth rate of 16.56%!
Dividend Growth(5Y)16.56%
Div Incr Years1
Div Non Decr Years1
BESI.AS Yearly Dividends per shareBESI.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 131.27% of the earnings are spent on dividend by BESI. This is not a sustainable payout ratio.
  • BESI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP131.27%
EPS Next 2Y78.69%
EPS Next 3Y59.62%
BESI.AS Yearly Income VS Free CF VS DividendBESI.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
BESI.AS Dividend Payout.BESI.AS Dividend Payout, showing the Payout Ratio.BESI.AS Dividend Payout.PayoutRetained Earnings

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BESI.AS Fundamentals: All Metrics, Ratios and Statistics

BE SEMICONDUCTOR INDUSTRIES

AMS:BESI (3/20/2026, 1:36:00 PM)

185.925

+2.08 (+1.13%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-19
Earnings (Next)04-23
Inst Owners67.31%
Inst Owner ChangeN/A
Ins Owners1.84%
Ins Owner ChangeN/A
Market Cap15.09B
Revenue(TTM)591.33M
Net Income(TTM)131.64M
Analysts74.29
Price Target190.2 (2.3%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.9%
Yearly Dividend2.18
Dividend Growth(5Y)16.56%
DP131.27%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.06%
Min EPS beat(2)-8.32%
Max EPS beat(2)8.44%
EPS beat(4)1
Avg EPS beat(4)-7.24%
Min EPS beat(4)-18.69%
Max EPS beat(4)8.44%
EPS beat(8)4
Avg EPS beat(8)-1.59%
EPS beat(12)8
Avg EPS beat(12)2.17%
EPS beat(16)10
Avg EPS beat(16)1.19%
Revenue beat(2)1
Avg Revenue beat(2)-1.92%
Min Revenue beat(2)-5.51%
Max Revenue beat(2)1.68%
Revenue beat(4)1
Avg Revenue beat(4)-4.77%
Min Revenue beat(4)-9.3%
Max Revenue beat(4)1.68%
Revenue beat(8)1
Avg Revenue beat(8)-4.31%
Revenue beat(12)3
Avg Revenue beat(12)-2.86%
Revenue beat(16)5
Avg Revenue beat(16)-2.5%
PT rev (1m)11.1%
PT rev (3m)24.9%
EPS NQ rev (1m)20.81%
EPS NQ rev (3m)21.88%
EPS NY rev (1m)6.1%
EPS NY rev (3m)7.54%
Revenue NQ rev (1m)11.28%
Revenue NQ rev (3m)11.69%
Revenue NY rev (1m)3.52%
Revenue NY rev (3m)3.5%
Valuation
Industry RankSector Rank
PE 112
Fwd PE 52.15
P/S 25.52
P/FCF 110.65
P/OCF 84.7
P/B 36.23
P/tB 56.5
EV/EBITDA 69.84
EPS(TTM)1.66
EY0.89%
EPS(NY)3.57
Fwd EY1.92%
FCF(TTM)1.68
FCFY0.9%
OCF(TTM)2.2
OCFY1.18%
SpS7.29
BVpS5.13
TBVpS3.29
PEG (NY)0.98
PEG (5Y)N/A
Graham Number13.84
Profitability
Industry RankSector Rank
ROA 11.82%
ROE 31.61%
ROCE 18.04%
ROIC 13.53%
ROICexc 31.17%
ROICexgc 48.6%
OM 29.27%
PM (TTM) 22.26%
GM 63.29%
FCFM 23.06%
ROA(3y)15.44%
ROA(5y)18.44%
ROE(3y)36.65%
ROE(5y)38.77%
ROIC(3y)16.12%
ROIC(5y)19.1%
ROICexc(3y)38.18%
ROICexc(5y)52.12%
ROICexgc(3y)61.33%
ROICexgc(5y)84.1%
ROCE(3y)21.5%
ROCE(5y)25.47%
ROICexgc growth 3Y-24.81%
ROICexgc growth 5Y-12.88%
ROICexc growth 3Y-23.24%
ROICexc growth 5Y-10.13%
OM growth 3Y-10.35%
OM growth 5Y-3.24%
PM growth 3Y-12.55%
PM growth 5Y-6.11%
GM growth 3Y1.08%
GM growth 5Y1.2%
F-Score5
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 1.24
Debt/FCF 3.82
Debt/EBITDA 2.51
Cap/Depr 125.31%
Cap/Sales 7.07%
Interest Coverage 8.64
Cash Conversion 86.31%
Profit Quality 103.58%
Current Ratio 5.55
Quick Ratio 4.88
Altman-Z 14.98
F-Score5
WACC11.04%
ROIC/WACC1.23
Cap/Depr(3y)64.74%
Cap/Depr(5y)50.84%
Cap/Sales(3y)3.41%
Cap/Sales(5y)2.38%
Profit Quality(3y)107.11%
Profit Quality(5y)105.6%
High Growth Momentum
Growth
EPS 1Y (TTM)-27.83%
EPS 3Y-16.97%
EPS 5Y-0.12%
EPS Q2Q%-27.03%
EPS Next Y114.78%
EPS Next 2Y78.69%
EPS Next 3Y59.62%
EPS Next 5Y39.79%
Revenue 1Y (TTM)-2.66%
Revenue growth 3Y-6.48%
Revenue growth 5Y6.4%
Sales Q2Q%8.44%
Revenue Next Year45.55%
Revenue Next 2Y38.35%
Revenue Next 3Y32.03%
Revenue Next 5Y24.2%
EBIT growth 1Y-11.58%
EBIT growth 3Y-16.16%
EBIT growth 5Y2.95%
EBIT Next Year114.25%
EBIT Next 3Y56.88%
EBIT Next 5Y36.92%
FCF growth 1Y-27.87%
FCF growth 3Y-19.88%
FCF growth 5Y-2.88%
OCF growth 1Y-11.41%
OCF growth 3Y-13.14%
OCF growth 5Y1.92%

BE SEMICONDUCTOR INDUSTRIES / BESI.AS Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for BE SEMICONDUCTOR INDUSTRIES?

ChartMill assigns a fundamental rating of 5 / 10 to BESI.AS.


What is the valuation status of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

ChartMill assigns a valuation rating of 2 / 10 to BE SEMICONDUCTOR INDUSTRIES (BESI.AS). This can be considered as Overvalued.


How profitable is BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

BE SEMICONDUCTOR INDUSTRIES (BESI.AS) has a profitability rating of 6 / 10.


What is the financial health of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) stock?

The financial health rating of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) is 6 / 10.


Can you provide the dividend sustainability for BESI stock?

The dividend rating of BE SEMICONDUCTOR INDUSTRIES (BESI.AS) is 3 / 10 and the dividend payout ratio is 131.27%.