BE Semiconductor Industries N.V. ADR (BESIY)
OTHER OTC:BESIY
Top Page
BE Semiconductor
(OTC:BESIY)
Select Model
Select Model
Rating:65Neutral
Price Target:
$195.00
▲(2.95% Upside)
Action:DowngradedDate:02/20/26
The score is driven mainly by solid fundamentals and a constructive earnings outlook backed by strong orders and healthy margins, plus supportive technical trend strength. These positives are tempered by a very expensive valuation and increased balance-sheet risk (higher leverage), along with execution and timing uncertainties highlighted on the earnings call.
Positive Factors
Strong margins
Sustained high gross (~62%) and net (~26%) margins indicate durable pricing power and operating leverage from advanced packaging equipment. These margins support reinvestment, R&D and shareholder returns across cycles, underpinning long‑term profitability if product mix and adoption hold.
Negative Factors
Rising leverage
Leverage has increased materially, reducing the equity cushion and financial flexibility. Higher debt levels constrain capital allocation choices, increase refinancing and interest risks, and make the company more vulnerable if equipment demand softens or execution requires incremental cash over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong margins
Sustained high gross (~62%) and net (~26%) margins indicate durable pricing power and operating leverage from advanced packaging equipment. These margins support reinvestment, R&D and shareholder returns across cycles, underpinning long‑term profitability if product mix and adoption hold.
Read all positive factors
BE Semiconductor (BESIY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.68B
Dividend Yield1.6%
Average Volume (3M)1.44K
Price to Earnings (P/E)83.5
Beta (1Y)1.07
Revenue Growth-4.02%
EPS Growth-16.70%
CountryUS
Employees1,820
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.64
Shares Outstanding81,146,736
10 Day Avg. Volume2,648
30 Day Avg. Volume1,441
Financial Highlights & Ratios
PEG Ratio-2.72
Price to Book (P/B)25.36
Price to Sales (P/S)18.59
P/FCF Ratio67.70
Enterprise Value/Market Cap0.86
Enterprise Value/Revenue25.67
Enterprise Value/Gross Profit41.17
Enterprise Value/Ebitda70.22
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.09
Revenue Forecast (FY)$1.01B
BE Semiconductor Business Overview & Revenue Model
Company Description
BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries worldwide. The company's principal products include die attach equipment, such ...
How the Company Makes Money
BESIY generates revenue primarily through the sale of its semiconductor packaging equipment and related services. The company's revenue model is built on both direct sales of its machinery and systems, as well as after-sales services and support, ...
BE Semiconductor Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call presented a mixture of strong operational and financial progress—notably robust Q4 momentum, order growth in 2H 2025, healthy margins, strengthened liquidity and marked adoption wins for hybrid bonding and TC NXT—while acknowledging near-term challenges including a modest full-year revenue decline, prolonged weakness in certain end markets, timing uncertainty for memory hybrid-bond adoption, and competitive and regional concentration risks. Management expressed clear optimism for 2026 driven by AI-related demand and provided constructive guidance, but execution and timing risks remain.Positive Updates
Strong Q4 Revenue and Orders Momentum
Q4 revenue of EUR 166.4 million (+25.4% vs Q3 2025) and Q4 orders of EUR 250.4 million (+43.3% vs Q3 2025), driven by broad-based demand from Asian subcontractors for 2.5D data center applications, renewed photonics capacity purchases and a large increase in hybrid bonding orders.
Negative Updates
Full-Year Revenue Slight Decline
Full-year 2025 revenue of EUR 591.3 million decreased by 2.7% vs 2024 due to lower shipments in mobile, automotive and industrial end markets amid ongoing weakness in overall assembly markets.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Revenue and Orders Momentum
Q4 revenue of EUR 166.4 million (+25.4% vs Q3 2025) and Q4 orders of EUR 250.4 million (+43.3% vs Q3 2025), driven by broad-based demand from Asian subcontractors for 2.5D data center applications, renewed photonics capacity purchases and a large increase in hybrid bonding orders.
Read all positive updates
Company Guidance
Management guided Q1 2026 revenue to rise 5–15% versus Q4 2025 (Q4 revenue €166.4m, implying roughly €174.7m–€191.4m), with gross margins of 63–65% and operating expenses expected to increase 10–15% as R&D and disciplined overhead continue; that optimism is driven by continued order momentum (Q4 orders €250.4m; FY2025 orders €685m, +16.8% y/y and +63.6% H2 vs H1) and strength across three key streams — 3D wafer‑level assembly, AI‑related 2.5D capacity and mainstream assembly (AI orders ≈50% of total) — supported by solid liquidity (cash & deposits €543m, net cash €36m).BE Semiconductor Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 567.99M | 607.47M | 578.86M | 722.87M | 749.30M |
| Gross Profit | 359.50M | 395.94M | 375.79M | 443.07M | 446.82M |
| EBITDA | 198.62M | 224.19M | 221.10M | 317.11M | 332.37M |
| Net Income | 126.45M | 181.99M | 177.08M | 240.65M | 282.42M |
Balance Sheet | |||||
| Total Assets | 1.11B | 1.23B | 896.55M | 1.14B | 1.14B |
| Cash, Cash Equivalents and Short-Term Investments | 542.75M | 672.32M | 413.48M | 491.69M | 451.39M |
| Total Debt | 529.41M | 544.71M | 319.16M | 342.88M | 312.48M |
| Total Liabilities | 697.05M | 733.21M | 475.14M | 506.65M | 524.77M |
| Stockholders Equity | 416.22M | 501.26M | 421.41M | 628.53M | 619.27M |
Cash Flow | |||||
| Free Cash Flow | 155.94M | 169.61M | 180.55M | 243.48M | 249.50M |
| Operating Cash Flow | 171.11M | 201.08M | 208.57M | 271.87M | 277.85M |
| Investing Cash Flow | 108.59M | -136.48M | -72.95M | 16.32M | -24.84M |
| Financing Cash Flow | -250.97M | 88.67M | -439.80M | -247.68M | -182.07M |
BE Semiconductor Technical Analysis
Positive
189.42
Price Trends
207.99
Positive
185.89
Positive
166.92
Positive
Market Momentum
1.45
Negative
56.23
Neutral
81.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BESIY, the sentiment is Positive. The current price of 189.42 is below the 20-day moving average (MA) of 207.90, below the 50-day MA of 207.99, and above the 200-day MA of 166.92, indicating a bullish trend. The MACD of 1.45 indicates Negative momentum. The RSI at 56.23 is Neutral, neither overbought nor oversold. The STOCH value of 81.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BESIY.
BE Semiconductor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $10.71B | 59.58 | 6.85% | ― | 6.38% | -4.15% | |
74 Outperform | $14.06B | 38.14 | 22.70% | ― | 39.37% | 40.87% | |
73 Outperform | $13.01B | 3,496.18 | 0.44% | ― | -12.03% | -80.99% | |
71 Outperform | $7.23B | 95.83 | 8.42% | ― | 21.12% | -54.97% | |
68 Neutral | $11.55B | 26.10 | 8.73% | 0.81% | 0.13% | -16.17% | |
65 Neutral | $17.68B | 83.49 | 31.96% | 1.60% | -4.02% | -16.70% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
BESIY
BE Semiconductor
219.64
128.64
141.35%
AMKR
Amkor
46.70
31.51
207.44%
CAMT
Camtek
157.73
102.56
185.90%
LSCC
Lattice Semiconductor
95.02
55.45
140.13%
ONTO
Onto Innovation
215.53
103.88
93.04%
NVMI
Nova
442.24
271.63
159.21%
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.