ASM International NV (ASM) AI Stock Analysis

• Market Cap: €26.41B
• Dividend Yield: 0.48%
• Average Volume (3M): 139.32K
• Price to Earnings (P/E): 55.1
• Beta (1Y): 2.02
• Revenue Growth: 22.22%
• EPS Growth: -10.98%
• Country: NL
• Employees: 4,558
• Sector: Industrials
• Sector Strength: 84
• Industry: Semiconductors
• EPS (TTM): 3.91
• Shares Outstanding: 49,328,550
• 10 Day Avg. Volume: 137,800
• 30 Day Avg. Volume: 139,318
• PEG Ratio: 0.12
• Price to Book (P/B): 2.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 13.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €583.30
• Price Target Upside: 7.46% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10

• Rating: 77 Outperform
• Price Target: €590.00 ▲(8.70%Upside)

ASM International NV's robust financial performance is the key driver of its score, supported by solid revenue growth and a strong balance sheet. The stock shows positive technical trends, although it may be nearing overbought conditions, and the valuation suggests caution with a high P/E ratio. The absence of recent earnings call insights or corporate events left those components unconsidered.

Positive Factors

Business Resilience

ASM has demonstrated strong resilience by slightly raising its 2025 guidance.

Earnings

ASM reported Q3 earnings and exceeded consensus estimates in almost every metric.

Sales Performance

Sales guidance for Q1 beat expectations by around 7%.

Negative Factors

Market Challenges

The decline is primarily due to a continued weak Chinese market.

Order Intake

There was a lower order intake in Q4 compared to Q3, mainly due to China.

ASM International NV Business Overview & Revenue Model

Company Description

ASM International NV (ASM) is a prominent player in the semiconductor industry, specializing in the design, manufacturing, and marketing of equipment and materials used in the production of semiconductor devices. The company's core offerings include deposition technologies such as Atomic Layer Deposition (ALD) and Chemical Vapor Deposition (CVD), which are critical for fabricating advanced semiconductor chips. ASM serves a global clientele, including leading semiconductor manufacturers, enabling the production of more efficient and powerful microchips used in various electronic devices and systems.

How the Company Makes Money

ASM International NV generates revenue primarily through the sale of its advanced semiconductor manufacturing equipment and related services. The company's key revenue streams include the sale of its deposition equipment, which semiconductor manufacturers use to produce high-performance chips. Additionally, ASM provides spare parts and maintenance services, ensuring the longevity and efficiency of its equipment. Significant partnerships with major semiconductor foundries and integrated device manufacturers (IDMs) contribute to its earnings, as these collaborations often lead to long-term contracts and repeat business. The company's focus on innovation and cutting-edge technology helps maintain its competitive edge and drives revenue growth.

ASM International NV Financial Statement Overview

Summary

ASM International NV shows strong financial health, characterized by significant revenue growth, robust profitability margins, and a stable balance sheet with minimal leverage. The company's cash flow is also solid, providing operational and investment flexibility.

Income Statement

ASM International NV has demonstrated strong revenue growth, with a consistent upward trajectory in total revenue from $1.73 billion in 2021 to $3.13 billion in TTM 2025. The gross profit margin remains robust, maintaining around 50.8% in TTM 2025. The net profit margin has fluctuated, peaking at 25.6% in 2021, indicating some volatility but still reflecting a healthy profitability level at 15.4% in TTM 2025. EBIT and EBITDA margins show efficient operational management with EBIT margin at 28.1% and EBITDA margin at 34.7% in TTM 2025.

Balance Sheet

The balance sheet of ASM International NV is very strong, with a low debt-to-equity ratio of 0.005 in TTM 2025, indicating minimal leverage. The return on equity (ROE) has shown a solid performance, with 13.2% in TTM 2025, showcasing effective use of equity capital. The equity ratio of 71.2% further signifies a strong equity base relative to total assets, enhancing financial stability.

Cash Flow

ASM International NV exhibits a healthy cash flow position with significant free cash flow growth, shown by a 37.7% increase from 2024 to TTM 2025. The operating cash flow to net income ratio of 2.28 in TTM 2025 suggests an efficient conversion of net income to cash. The free cash flow to net income ratio of 1.52 reflects the company's ability to generate ample cash after capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.13B	2.93B	2.63B	2.41B	1.73B	1.33B
Gross Profit	1.59B	1.48B	1.27B	1.14B	828.13M	623.57M
EBITDA	1.09B	990.54M	834.57M	529.29M	593.38M	361.84M
Net Income	483.77M	685.73M	752.07M	389.11M	494.71M	285.40M
Balance Sheet
Total Assets	5.14B	5.16B	4.23B	3.75B	2.71B	2.23B
Cash, Cash Equivalents and Short-Term Investments	1.14B	926.50M	637.26M	419.31M	491.51M	435.23M
Total Debt	19.80M	35.26M	33.56M	28.12M	23.46M	6.22M
Total Liabilities	1.48B	1.41B	999.92M	1.00B	469.33M	375.21M
Stockholders Equity	3.66B	3.75B	3.23B	2.75B	2.24B	1.85B
Cash Flow
Free Cash Flow	733.79M	532.92M	418.18M	333.01M	223.79M	101.56M
Operating Cash Flow	1.10B	897.65M	735.89M	541.49M	380.64M	264.35M
Investing Cash Flow	-365.97M	-349.97M	-289.04M	-474.88M	-114.40M	-144.31M
Financing Cash Flow	-302.27M	-301.03M	-236.05M	-132.60M	-240.26M	-170.45M

ASM International NV Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 542.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:ASM, the sentiment is Positive. The current price of 542.8 is above the 20-day moving average (MA) of 512.09, above the 50-day MA of 472.96, and above the 200-day MA of 510.93, indicating a bullish trend. The MACD of 15.26 indicates Positive momentum. The RSI at 68.36 is Neutral, neither overbought nor oversold. The STOCH value of 75.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:ASM.

ASM International NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASM	77 Outperform	€26.41B	55.13	13.66%	0.48%	22.22%	-10.98%
ASML	76 Outperform	€269.24B	31.36	55.62%	0.93%	17.67%	22.62%
BESI	74 Outperform	€10.43B	57.15	36.13%	1.47%	2.29%	-1.00%
Sector *	59 Neutral	AU$1.65B	9.63	11.29%	3.80%	6.45%	5.22%