ASM International NV (ASM) AI Stock Analysis

• Market Cap: €25.87B
• Dividend Yield: 0.56%
• Average Volume (3M): 133.47K
• Price to Earnings (P/E): 54.0
• Beta (1Y): 2.07
• Revenue Growth: 22.22%
• EPS Growth: -10.98%
• Country: NL
• Employees: 4,558
• Sector: Industrials
• Sector Strength: 89
• Industry: Semiconductors
• EPS (TTM): 3.91
• Shares Outstanding: 49,328,550
• 10 Day Avg. Volume: 119,254
• 30 Day Avg. Volume: 133,474
• PEG Ratio: -1.80
• Price to Book (P/B): 7.02
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 35.03
• 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: €582.18
• Price Target Upside: 15.51% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 62 Neutral
• Price Target: €534.00 ▲(5.95%Upside)

ASM International NV's strong financial performance is overshadowed by weak technical indicators and an overvalued stock price. While the company's balance sheet and cash flow are solid, current market conditions suggest caution. The absence of earnings call insights further limits short-term visibility.

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, 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 Money

ASM International NV generates revenue primarily through the sale of its deposition equipment to semiconductor manufacturers. Key revenue streams include equipment sales, spare parts, and service contracts. The company's cutting-edge ALD and PECVD technologies are crucial for producing semiconductors with smaller, more efficient, and more powerful chips, driving demand for ASM's products. Additionally, ASM benefits from strategic partnerships and collaborations with leading semiconductor companies, which facilitate the adoption of its technologies in next-generation chip manufacturing. The company's revenue is also influenced by the cyclical nature of the semiconductor industry, with demand fluctuations impacting sales.

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: Negative
• Last Price: 504.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• 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 Negative. The current price of 504 is below the 20-day moving average (MA) of 523.45, below the 50-day MA of 505.56, and below the 200-day MA of 507.25, indicating a bearish trend. The MACD of 3.66 indicates Positive momentum. The RSI at 43.82 is Neutral, neither overbought nor oversold. The STOCH value of 57.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:ASM.

ASM International NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	67 Neutral	£2.83B	10.45	4.69%	3.54%	2.40%	-24.48%
ASM	62 Neutral	€25.87B	53.99	13.66%	0.56%	22.22%	-10.98%
0QB8	―	€242.60B	27.06	58.25%	1.18%	―	―
0XVE	―	€9.68B	55.05	36.13%	1.82%	―	―