BE Semiconductor (BESI) AI Stock Analysis

• Market Cap: €14.19B
• Dividend Yield: 1.65%
• Average Volume (3M): 504.84K
• Price to Earnings (P/E): 94.0
• Beta (1Y): 1.91
• Revenue Growth: -5.75%
• EPS Growth: -17.63%
• Country: US
• Employees: 1,820
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.32
• Shares Outstanding: 81,146,736
• 10 Day Avg. Volume: 587,283
• 30 Day Avg. Volume: 504,841
• PEG Ratio: 43.58
• Price to Book (P/B): 20.82
• Price to Sales (P/S): 17.18
• P/FCF Ratio: 61.53
• 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: €172.86
• Price Target Upside: 2.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: €186.00 ▲(9.77% Upside)

The score is primarily supported by solid profitability and operating cash generation, plus a strong uptrend in the share price. These positives are meaningfully tempered by expensive valuation (very high P/E), overbought technical signals, and fundamental risks from negative revenue growth and rising leverage.

Positive Factors

Profitability & Margins

Sustained strong gross, net and operating margins point to durable cost structure and pricing power in BESI's niche equipment markets. High margins support reinvestment, R&D and resilience through cycles, enabling continued competitiveness and long-term cash generation.

Operating Cash Generation

Robust conversion of earnings into operating cash provides financial flexibility for capex, product development and servicing debt. Reliable operating cash flow underpins the business's ability to fund growth initiatives and sustain operations across semiconductor cycles.

Market Position in Advanced Packaging

BESI's leadership in die bonding, wire bonding and encapsulation places it squarely in structural growth areas (mobile, automotive, IoT). Durable customer relationships and product specialization create competitive barriers and steady demand from foundries and OEMs over the medium term.

Negative Factors

Negative Revenue Trend

Recent negative revenue growth signals demand or share challenges that weaken scale benefits. If continued, shrinking top-line can erode fixed-cost absorption, pressure margins over time and constrain the firm's ability to invest in R&D or new product programs.

Rising Leverage

Elevated and rising debt levels reduce financial flexibility and raise refinancing risk in cyclical downturns. For a capital-intensive equipment supplier, higher leverage can limit strategic investments, increase interest burden and amplify earnings volatility over the medium term.

Declining Free Cash Flow Growth

A downturn in free cash flow growth constrains capacity to fund capex, upgrades and debt repayments from internal sources. Persistently weaker FCF can force reliance on external financing, reducing optionality and increasing vulnerability to industry cyclicality.

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

BESI generates revenue primarily through the sale of its semiconductor packaging equipment and related services. The company's revenue model is heavily reliant on direct sales to semiconductor manufacturers and foundries, where it earns income from both new equipment sales and after-sales services, including maintenance and upgrades. Key revenue streams include the sale of die bonders, wire bonders, and other advanced packaging solutions. BESI also benefits from strategic partnerships with leading semiconductor companies, positioning it to capitalize on industry trends and increased demand for advanced packaging technologies. The company's financial performance is influenced by the cyclical nature of the semiconductor industry, with revenue spikes often occurring during periods of high demand for electronic devices.

BE Semiconductor Financial Statement Overview

Summary

Profitability remains solid with strong gross/net margins and healthy EBIT/EBITDA margins, supported by good operating cash generation. Offsetting this, recent revenue growth has been negative, leverage is rising with a high debt-to-equity ratio, and free cash flow growth has declined.

Income Statement

BE Semiconductor's income statement shows a mixed performance. The company has maintained strong gross and net profit margins, indicating efficient cost management and profitability. However, the revenue growth rate has been negative in recent periods, suggesting potential challenges in market expansion or demand. The EBIT and EBITDA margins remain healthy, reflecting operational efficiency.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, which could pose a risk if not managed properly. However, the return on equity is strong, indicating effective use of shareholder funds to generate profits. The equity ratio suggests a moderate level of financial stability, but the increasing leverage trend is a concern.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, which could impact future investments or debt repayments. The operating cash flow to net income ratio is strong, indicating good cash generation from operations. However, the free cash flow to net income ratio has slightly decreased, reflecting potential pressures on cash reserves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	578.39M	607.47M	578.86M	722.87M	749.30M	433.62M
Gross Profit	356.89M	395.94M	375.79M	443.07M	446.82M	258.57M
EBITDA	211.38M	224.19M	245.09M	317.11M	332.37M	159.96M
Net Income	148.13M	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	518.56M	342.32M	188.48M	491.69M	451.39M	375.41M
Total Debt	537.86M	544.71M	319.16M	342.88M	312.48M	409.88M
Total Liabilities	707.23M	733.21M	475.14M	506.65M	524.77M	540.13M
Stockholders Equity	361.16M	501.26M	421.41M	628.53M	619.27M	371.23M
Cash Flow
Free Cash Flow	165.61M	169.61M	180.55M	243.48M	249.50M	140.16M
Operating Cash Flow	194.07M	201.08M	208.57M	271.87M	277.85M	162.02M
Investing Cash Flow	113.23M	-136.48M	-72.95M	16.32M	-24.84M	-115.44M
Financing Cash Flow	-267.43M	88.67M	-439.80M	-247.68M	-182.07M	51.85M

BE Semiconductor Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 169.45
• 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:BESI, the sentiment is Positive. The current price of 169.45 is above the 20-day moving average (MA) of 164.09, above the 50-day MA of 145.01, and above the 200-day MA of 127.58, indicating a bullish trend. The MACD of 8.96 indicates Positive momentum. The RSI at 60.74 is Neutral, neither overbought nor oversold. The STOCH value of 53.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:BESI.

BE Semiconductor Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASML	77 Outperform	€465.10B	49.23	53.85%	0.73%	22.77%	37.62%
NEDAP	76 Outperform	€567.57M	27.12	29.06%	3.54%	4.11%	22.38%
ASM	73 Outperform	€35.24B	45.28	21.56%	0.58%	19.12%	42.78%
TWEKA	71 Outperform	€1.48B	23.36	7.75%	4.11%	-3.59%	-46.68%
THEON	69 Neutral	€2.46B	31.31	―	1.91%	―	―
BESI	64 Neutral	€14.19B	94.03	35.84%	1.65%	-5.75%	-17.63%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%