BE Semiconductor (BESIY) AI Stock Analysis

• Market Cap: $16.27B
• Dividend Yield: 1.6%
• Average Volume (3M): 365.00
• Price to Earnings (P/E): 98.4
• Beta (1Y): 1.10
• Revenue Growth: -4.02%
• EPS Growth: -16.70%
• Country: US
• Employees: 1,820
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.37
• Shares Outstanding: 81,146,736
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 365
• PEG Ratio: 15.98
• Price to Book (P/B): 20.82
• Price to Sales (P/S): 17.18
• P/FCF Ratio: 61.53
• Enterprise Value/Market Cap: 0.74
• Enterprise Value/Revenue: 20.75
• Enterprise Value/Gross Profit: 33.29
• Enterprise Value/Ebitda: 57.69
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $222.00 ▲(17.20% Upside)

The score is driven primarily by resilient profitability and strong cash generation despite weak revenue growth, plus constructive earnings-call guidance supported by improving bookings. Technicals are bullish but appear extended (overbought), and the biggest restraint is the very high valuation (P/E ~92) with only a modest dividend yield.

Positive Factors

High Profitability Margins

Sustained high gross and EBITDA margins indicate differentiated, high-value equipment and pricing power in advanced packaging. Robust margins support reinvestment in R&D, margin preservation through cycles, and internal funding of strategic initiatives even if top-line growth is uneven.

Strong Cash Generation

Very strong free cash flow growth and healthy cash conversion provide durable financial flexibility: funds capex, R&D, buybacks and debt servicing without relying on equity markets, reducing refinancing risk and enabling strategic investments over the next several quarters.

Order Momentum & Demand Recovery

Sharp bookings pickup and positive Q4 guidance reflect improving demand for advanced packaging, notably 2.5D and data-center applications. Strong order visibility supports capacity planning, revenue normalization, and steadier future cash flows as AI/datacenter secular demand matures.

Negative Factors

Declining Revenue Trend

A material multi-period revenue decline signals exposure to cyclical end markets and weaker product volume. Even with healthy margins, continued top-line shrinkage can erode operating leverage, limit reinvestment capacity, and constrain long-term growth if end-market recovery is delayed.

Elevated Financial Leverage

High leverage increases interest and refinancing risk, reducing strategic flexibility. If slower demand persists, debt servicing could crowd out R&D and capex, and higher leverage can exacerbate earnings volatility and constrain the company’s ability to pursue opportunistic investments or M&A.

Delayed Industry Recovery

A pushed-out recovery in mainstream assembly extends weak demand for mobile and automotive segments, reducing near-term order cadence and revenue visibility. Structural delay in the market cycle can prolong underutilization of capacity and defer returns on recent investments.

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 as single chip, multi chip, multi module, flip chip, thermal compression bonding, fan out wafer level packaging, hybrid and embedded bridge die bonding, and die sorting systems; and packaging equipment, including conventional, ultra thin, and wafer level molding, as well as trim and form, and singulation systems. Its principal products also comprise plating equipment comprising tin, copper, and precious metal and solar plating systems, as well as related process chemicals; and tooling, conversion kits, spare parts, and other services. The company's principal brand names include Datacon, Esec, Fico, and Meco. It offers its products primarily to multinational chip manufacturers, assembly subcontractors, and electronics and industrial companies. The company was incorporated in 1995 and is headquartered in Duiven, the Netherlands.

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, which include maintenance, upgrades, and spare parts. Key revenue streams include sales of die attach and wire bond equipment, as well as packaging systems that cater to different semiconductor technologies. Additionally, BESIY benefits from long-term partnerships with major semiconductor manufacturers and technology companies, which contribute to its stable revenue growth. The company's ability to innovate and adapt its product offerings to meet the evolving needs of the semiconductor market also plays a significant role in driving its earnings.

BE Semiconductor Financial Statement Overview

Summary

Mixed fundamentals: revenue growth declined 24.4% (headwind), but profitability remains strong (net margin 28.2%, gross margin 63.3%, EBITDA margin 38.8%) and cash generation is a key strength (free cash flow growth 168.7%, solid cash conversion). Balance sheet leverage is elevated (debt-to-equity 1.51), partially offset by strong ROE (36.9%).

Income Statement

BE Semiconductor's income statement shows a mixed performance. The TTM data indicates a decline in revenue growth rate by 24.4%, which is a concern. However, the company maintains strong profitability with a net profit margin of 28.2% and a gross profit margin of 63.3%. The EBIT and EBITDA margins are also robust at 33.9% and 38.8%, respectively. Despite the revenue decline, the company has managed to sustain healthy margins, indicating efficient cost management.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 1.51 in the TTM period, suggesting increased leverage, which could pose a risk if not managed carefully. However, the return on equity remains strong at 36.9%, indicating effective use of equity to generate profits. The equity ratio stands at 33.8%, showing a moderate level of equity financing relative to total assets. Overall, while leverage is high, the company demonstrates strong profitability on its equity.

Cash Flow

The cash flow statement is a strong point for BE Semiconductor. The TTM data shows a significant free cash flow growth of 168.7%, which is a positive indicator of the company's ability to generate cash. The operating cash flow to net income ratio is 1.44, and the free cash flow to net income ratio is 0.84, both suggesting good cash conversion from profits. The company appears to be managing its cash flows effectively, supporting its financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	578.08M	607.47M	578.86M	722.87M	749.30M	433.62M
Gross Profit	360.42M	395.94M	375.79M	443.07M	446.82M	258.57M
EBITDA	207.98M	224.19M	221.10M	317.11M	332.37M	159.96M
Net Income	148.07M	181.99M	177.08M	240.65M	282.42M	132.28M
Balance Sheet
Total Assets	1.07B	1.23B	896.55M	1.14B	1.14B	911.36M
Cash, Cash Equivalents and Short-Term Investments	520.22M	672.32M	413.48M	491.69M	451.39M	375.41M
Total Debt	539.58M	544.71M	319.16M	342.88M	312.48M	409.88M
Total Liabilities	709.49M	733.21M	475.14M	506.65M	524.77M	540.13M
Stockholders Equity	362.32M	501.26M	421.41M	628.53M	619.27M	371.23M
Cash Flow
Free Cash Flow	158.56M	169.61M	180.55M	243.48M	249.50M	140.16M
Operating Cash Flow	194.18M	201.08M	208.57M	271.87M	277.85M	162.02M
Investing Cash Flow	118.72M	-136.48M	-72.95M	16.32M	-24.84M	-115.44M
Financing Cash Flow	-274.44M	88.67M	-439.80M	-247.68M	-182.07M	51.85M

BE Semiconductor Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 189.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 above the 20-day moving average (MA) of 172.57, above the 50-day MA of 162.09, and above the 200-day MA of 143.12, indicating a bullish trend. The MACD of 10.42 indicates Negative momentum. The RSI at 70.43 is Negative, neither overbought nor oversold. The STOCH value of 87.66 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ONTO	75 Outperform	$10.68B	62.09	8.96%	―	6.38%	-4.15%
NVMI	73 Outperform	$13.26B	58.50	23.58%	―	39.37%	40.87%
CAMT	72 Outperform	$6.61B	165.12	8.76%	―	21.12%	-54.97%
LSCC	71 Outperform	$11.66B	422.22	3.86%	―	-12.03%	-80.99%
BESIY	70 Outperform	$16.27B	98.38	34.39%	1.60%	-4.02%	-16.70%
AMKR	69 Neutral	$12.16B	39.65	7.27%	0.81%	0.13%	-16.17%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%