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ASM International NV (ASMIY)
OTHER OTC:ASMIY
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ASM International
(OTC:ASMIY)
Rating:70Outperform
Price Target:
$583.00
▲(17.16% Upside)
ASM International (ASMIY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.19B
Dividend Yield0.67%
Average Volume (3M)921.00
Price to Earnings (P/E)40.4
Beta (1Y)1.45
Revenue Growth26.25%
EPS Growth-2.65%
CountryUS
Employees4,558
SectorTechnology
Sector Strength86
IndustrySemiconductors
Share Statistics
EPS (TTM)4.11
Shares Outstanding49,328,550
10 Day Avg. Volume1,114
30 Day Avg. Volume921
Financial Highlights & Ratios
PEG Ratio-4.94
Price to Book (P/B)7.20
Price to Sales (P/S)9.20
P/FCF Ratio50.63
Enterprise Value/Market Cap1.31
Enterprise Value/Revenue9.28
Enterprise Value/Gross Profit18.10
Enterprise Value/Ebitda25.61
Forecast
1Y Price Target
$583.00Price Target Upside17.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
ASM International Business Overview & Revenue Model
Company DescriptionASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials that are used to produce semiconductor devices in the United States, Europe, and Asia. Its products include wafer processing deposition systems for single-wafer atomic layer deposition, plasma enhanced chemical vapor deposition, epitaxy, and batch diffusion/furnace systems, as well as provides spare parts and support services. The company also manufactures and sells equipment, which is used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. It serves manufacturers of semiconductor devices and integrated circuits. The company was formerly known as Advanced Semiconductor Materials International NV. ASM International NV was incorporated in 1968 and is headquartered in Almere, the Netherlands.
How the Company Makes MoneyASM International generates revenue primarily through the sale of its semiconductor equipment and services. Key revenue streams include the sale of ALD systems and related technologies, as well as maintenance services and spare parts for existing installations. The company also benefits from long-term partnerships with major semiconductor manufacturers, which often lead to repeat business and collaborative projects. Additionally, ASMIY invests in R&D to innovate and improve its product offerings, thus enhancing its competitive positioning in the market and driving future sales growth.
ASM International Earnings Call Summary
Earnings Call Date:Jul 22, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 28, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a strong performance in revenue growth and operating profit, driven by advancements in gate-all-around technology and equipment sales. However, challenges such as declining order intake, memory sales, and uncertainties in the China market and currency impacts present significant concerns.Q2-2025 Updates
Positive Updates
Strong Revenue Growth
Revenue in Q2 2025 amounted to EUR 836 million, up 23% year-on-year at constant currency and increased by 7% from Q1 2025.
Equipment Sales Boost
Equipment sales increased 25% year-on-year at constant currency, led by ALD and followed by epi.
Gross Margin Achievement
Gross margin in Q2 2025 came in at 51.8%, up from 49.8% in the second quarter of the previous year.
Operating Profit Surge
Operating profit increased by roughly 40% year-on-year, adjusted for one-off SG&A expenses.
Positive Cash Flow
Healthy free cash flow of EUR 125 million was generated in Q2 2025, up from EUR 103 million in Q2 of the previous year.
Advanced Logic/Foundry Market Position
Continued strong performance in gate-all-around technology, with significant investments in 2-nanometer capacity by leading customers.
Negative Updates
Order Intake Decline
New orders amounted to EUR 702 million, a decrease of 10% compared to Q1 2025 and a decrease of 4% compared to Q2 2024 at constant currency.
Memory Sales Challenges
Memory sales decreased year-on-year, with the expectation of a drop to less than 20% of equipment sales in 2025 compared to 25% in 2024.
Currency Translation Loss
A currency translation loss of EUR 60 million was reported in Q2 2025, largely due to the depreciation of the dollar during the quarter.
China Market Uncertainty
Ongoing challenges in the China market with expectations for sales and bookings in China to be lower in the second half of 2025.
Power/Analog/Wafer Segment Weakness
Sales in the power/analog and wafer segment continued to be under pressure, with no meaningful sales recovery expected in 2025.
Company Guidance
During the ASM Second Quarter 2025 Earnings Call, the company provided guidance indicating that its revenue for the second half of 2025 is expected to be approximately similar to the first half, with Q3 revenue projected to be flat to slightly lower, ranging from 0% to minus 5% at constant currency. The guidance for full-year 2025 revenue growth at constant currencies is anticipated to be around the midpoint of the 10% to 20% range. The gross margin for the full year is projected to remain in the upper half of the 46% to 50% target range, implying a lower gross margin in the second half compared to the first half. SG&A expenses are expected to be somewhat below the prior year, while net R&D is forecasted to be at the upper end of the high-single to low-double-digit percentage of sales. The company expects China equipment sales as a percentage of total revenue to be around the top end of the low to high 20s range, though still below 2024 levels. The book-to-bill ratio in Q3 is projected to be below 1, with higher advanced logic/foundry bookings and lower China bookings.ASM International Financial Statement Overview
Summary
ASM International exhibits strong financial health with consistent revenue growth, high profitability margins, low leverage, and effective cash flow management. The company is well-positioned for future growth with minimal financial risks.Income Statement
ASM International shows strong financial performance with increasing revenue and profitability. The Gross Profit Margin stands robust at approximately 50.5% for 2024, reflecting efficient production and pricing strategies. Net Profit Margin is healthy at 23.4%, indicating solid bottom-line profitability. Revenue growth from 2023 to 2024 is notable at 11.3%, showcasing solid business expansion. EBIT and EBITDA Margins are commendable at 27.3% and 33.8%, respectively, highlighting operational efficiency and effective cost management.92
Very Positive
Balance Sheet
The company's balance sheet reflects financial stability with a very low Debt-to-Equity Ratio of 0.006, indicating minimal leverage and low financial risk. The Return on Equity (ROE) is a strong 18.3%, showcasing effective use of shareholder capital to generate profits. The Equity Ratio is high at 72.6%, suggesting a solid equity base and low reliance on debt financing.88
Very Positive
Cash Flow
ASM International demonstrates strong cash flow management with a Free Cash Flow Growth Rate of 27.4% from 2023 to 2024, indicating robust cash generation capabilities. The Operating Cash Flow to Net Income Ratio of 1.31 reflects efficient conversion of income into cash. The Free Cash Flow to Net Income Ratio is 0.78, demonstrating good cash retention after capital expenditures.85
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.26B | 2.93B | 2.63B | 2.41B | 1.73B | 1.33B |
| Gross Profit | 1.67B | 1.48B | 1.27B | 1.14B | 828.13M | 623.57M |
| EBITDA | 1.18B | 990.54M | 834.57M | 846.86M | 694.92M | 425.11M |
| Net Income | 527.15M | 685.73M | 752.07M | 389.11M | 494.71M | 285.40M |
Balance Sheet | ||||||
| Total Assets | 5.04B | 5.16B | 4.23B | 3.75B | 2.71B | 2.23B |
| Cash, Cash Equivalents and Short-Term Investments | 1.04B | 926.00M | 637.26M | 419.31M | 491.51M | 435.23M |
| Total Debt | 0.00 | 35.26M | 33.56M | 28.12M | 23.46M | 6.22M |
| Total Liabilities | 1.47B | 1.41B | 999.92M | 1.00B | 469.33M | 375.21M |
| Stockholders Equity | 3.57B | 3.75B | 3.23B | 2.75B | 2.24B | 1.85B |
Cash Flow | ||||||
| Free Cash Flow | 754.20M | 532.92M | 418.18M | 333.01M | 223.79M | 101.56M |
| Operating Cash Flow | 1.14B | 897.65M | 735.89M | 541.49M | 380.64M | 264.35M |
| Investing Cash Flow | -373.25M | -349.97M | -289.04M | -474.88M | -114.40M | -144.31M |
| Financing Cash Flow | -297.61M | -301.03M | -236.05M | -132.60M | -240.26M | -170.45M |
ASM International Technical Analysis
Negative
497.63
Price Trends
548.13
Negative
529.26
Negative
539.31
Negative
Market Momentum
-18.13
Negative
37.17
Neutral
35.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASMIY, the sentiment is Negative. The current price of 497.63 is above the 20-day moving average (MA) of 483.66, below the 50-day MA of 548.13, and below the 200-day MA of 539.31, indicating a bearish trend. The MACD of -18.13 indicates Negative momentum. The RSI at 37.17 is Neutral, neither overbought nor oversold. The STOCH value of 35.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASMIY.
ASM International Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $17.19B | 13.61 | 10.98% | 7.22% | 5.46% | -26.72% | |
70 Outperform | $23.19B | 40.44 | 14.80% | 0.67% | 26.25% | -2.65% | |
69 Neutral | $20.85B | 47.82 | 5.72% | ― | -17.93% | -75.83% | |
68 Neutral | $24.40B | 39.54 | 3.72% | 1.13% | -22.97% | -78.58% | |
67 Neutral | $21.22B | 20.46 | 10.97% | 3.57% | 4.86% | 6.44% | |
61 Neutral | $36.05B | 6.66 | -10.61% | 1.86% | 8.68% | -8.81% | |
54 Neutral | $18.69B | 28.15 | -1.01% | ― | -0.65% | -114.26% |
* Technology Sector Average
Performance Comparison
ASMIY
ASM International
497.63
-175.34
-26.05%
ASX
ASE Technology Holding Co
9.97
0.38
3.96%
ON
ON Semiconductor
50.78
-25.52
-33.45%
STM
STMicroelectronics
27.59
-3.20
-10.39%
UMC
United Micro
6.69
-1.58
-19.11%
GFS
GlobalFoundries Inc
33.58
-12.44
-27.03%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.