Cash flow ASM International N.V.

Equities

ASM

NL0000334118

Semiconductor Equipment & Testing

Market Closed - Euronext Amsterdam Other stock markets 16:35:03 17/09/2024 BST			After market 17:03:19
570.40 ^EUR	+0.49%		570.50	+0.02%

09-05	Such a long wait
09-04	Nvidia weighs on European tech sector	RE

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Published financial data: ASM INTERNATIONAL N.V.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.28B	1.33B	1.73B	2.41B	2.63B
Total Revenues	1.28B	1.33B	1.73B	2.41B	2.63B
Cost of Goods Sold, Total	645M	705M	902M	1.27B	1.36B
Gross Profit	638M	624M	828M	1.14B	1.27B
Selling General & Admin Expenses, Total	149M	157M	190M	274M	309M
R&D Expenses	106M	129M	149M	234M	307M
Amortization of Goodwill and Intangible Assets - (IS)	13.79M	12.86M	12.21M	13.64M	3.67M
Other Operating Expenses	-	-	-	-	-254K
Other Operating Expenses, Total	269M	299M	351M	521M	619M
Operating Income	370M	324M	477M	622M	653M
Interest Expense, Total	-1.77M	-2.01M	-2.01M	-1.52M	-3.94M
Interest And Investment Income	19.67M	44.95M	86.62M	80.66M	36.03M
Net Interest Expenses	17.91M	42.95M	84.61M	79.14M	32.09M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-146K	-23.16M	33.47M	25.01M	-21.38M
EBT, Excl. Unusual Items	387M	344M	595M	726M	663M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-3M	-
Gain (Loss) On Sale Of Investments	-	-	-	-215M	215M
Gain (Loss) On Sale Of Assets	-	-	4.07M	40K	-185K
Asset Writedown	-4.76M	-10.13M	-1.97M	-6K	-2.48M
Other Unusual Items	-	-	-	-2.58M	-9.66M
EBT, Incl. Unusual Items	383M	334M	597M	505M	867M
Income Tax Expense	53.65M	48.67M	103M	116M	114M
Earnings From Continuing Operations	329M	285M	495M	389M	752M
Net Income to Company	329M	285M	495M	389M	752M
Net Income - (IS)	329M	285M	495M	389M	752M
Net Income to Common Incl Extra Items	329M	285M	495M	389M	752M
Net Income to Common Excl. Extra Items	329M	285M	495M	389M	752M
Per Share Items
Net EPS - Basic	6.66	5.84	10.17	7.97	15.26
Basic EPS - Continuing Operations	6.66	5.84	10.17	7.97	15.26
Basic Weighted Average Shares Outstanding	49.42M	48.91M	48.64M	48.82M	49.29M
Net EPS - Diluted	6.58	5.78	10.11	7.93	15.18
Diluted EPS - Continuing Operations	6.58	5.78	10.11	7.93	15.18
Diluted Weighted Average Shares Outstanding	50M	49.36M	48.91M	49.1M	49.56M
Normalized Basic EPS	4.9	4.4	7.65	9.29	8.41
Normalized Diluted EPS	4.84	4.36	7.61	9.24	8.37
Dividend Per Share	1.5	2	2.5	2.5	2.75
Payout Ratio	30.18	34.58	19.59	31.26	16.41
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	430M	384M	548M	698M	770M
EBITA	384M	338M	489M	628M	689M
EBIT	370M	324M	477M	622M	653M
EBITDAR	438M	384M	548M	698M	770M
Effective Tax Rate - (Ratio)	14.02	14.57	17.18	22.94	13.21
Current Domestic Taxes	28.41M	25.46M	72.03M	78.74M	65.95M
Current Foreign Taxes	9.01M	17.75M	7.72M	36.43M	19.6M
Total Current Taxes	37.42M	43.22M	79.75M	115M	85.55M
Deferred Domestic Taxes	6.86M	3.35M	5.95M	1.88M	11.3M
Deferred Foreign Taxes	9.37M	2.11M	16.92M	-1.18M	17.6M
Total Deferred Taxes	16.23M	5.46M	22.86M	695K	28.9M
Normalized Net Income	242M	215M	372M	454M	415M
Interest on Long-Term Debt	586K	561K	523K	603K	705K
Non-Cash Pension Expense	-4K	-3K	-10K	-11K	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	111M	139M	151M	234M	309M
Net Rental Expense, Total	8.17M	270K	64K	251K	500K
Imputed Operating Lease Interest Expense	-	206K	48.22K	119K	512K
Imputed Operating Lease Depreciation	-	63.67K	15.78K	132K	-11.66K
Stock-Based Comp., Other (Total)	10.54M	12.79M	17.24M	29.88M	37.31M
Total Stock-Based Compensation	10.54M	12.79M	17.24M	29.88M	37.31M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	498M	435M	492M	419M	637M
Total Cash And Short Term Investments	498M	435M	492M	419M	637M
Accounts Receivable, Total	237M	314M	469M	641M	547M
Other Receivables	16.29M	13.37M	30.73M	39.43M	53.11M
Total Receivables	254M	327M	499M	680M	600M
Inventory	173M	162M	212M	538M	526M
Prepaid Expenses	14.8M	14.48M	8.45M	17.98M	39.01M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	5.94M	11.83M	8.49M	15.97M	6.68M
Total Current Assets	945M	951M	1.22B	1.67B	1.81B
Gross Property Plant And Equipment	412M	453M	533M	641M	751M
Accumulated Depreciation	-220M	-215M	-249M	-297M	-330M
Net Property Plant And Equipment	192M	237M	284M	344M	420M
Long-term Investments	778M	743M	849M	692M	873M
Goodwill	11.27M	11.27M	11.27M	318M	320M
Other Intangibles, Total	6.73M	5.6M	7.16M	306M	281M
Deferred Tax Assets Long-Term	3.06M	196K	69K	181K	179K
Deferred Charges Long-Term	182M	204M	268M	340M	424M
Other Long-Term Assets, Total	55.61M	77.5M	72.49M	78.3M	98.29M
Total Assets	2.18B	2.23B	2.71B	3.75B	4.23B
Liabilities
Accounts Payable, Total	122M	131M	185M	264M	218M
Accrued Expenses, Total	46.68M	51.86M	73.83M	102M	133M
Current Portion of Leases	7M	6.22M	7.57M	9.52M	10.87M
Current Income Taxes Payable	34.6M	67.86M	14.52M	43.78M	21.92M
Unearned Revenue Current, Total	32.15M	47M	68.72M	198M	300M
Other Current Liabilities	78.26M	36.82M	57.99M	163M	55.25M
Total Current Liabilities	321M	340M	408M	780M	739M
Long-Term Leases	15.77M	13.04M	15.89M	18.6M	22.68M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	20.14M	21.89M	45.75M	124M	150M
Other Non Current Liabilities	-	-	-	78.65M	88.3M
Total Liabilities	356M	375M	469M	1B	1B
Common Stock, Total	2.05M	1.99M	1.97M	1.97M	1.98M
Additional Paid In Capital	43.68M	34.5M	25.28M	47.96M	71.32M
Retained Earnings	1.82B	1.9B	2.24B	2.51B	3.14B
Treasury Stock	-170M	-105M	-155M	-3.45M	-89.57M
Comprehensive Income and Other	127M	26.18M	129M	195M	104M
Total Common Equity	1.82B	1.85B	2.24B	2.75B	3.23B
Total Equity	1.82B	1.85B	2.24B	2.75B	3.23B
Total Liabilities And Equity	2.18B	2.23B	2.71B	3.75B	4.23B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	48.84M	48.63M	48.57M	49.33M	49.2M
ECS Total Common Shares Outstanding	48.87M	48.71M	48.57M	49.33M	49.2M
Book Value / Share	37.22	38.07	46.16	55.74	65.58
Tangible Book Value	1.8B	1.84B	2.22B	2.13B	2.63B
Tangible Book Value Per Share	36.85	37.73	45.78	43.08	53.36
Total Debt	22.78M	19.27M	23.46M	28.12M	33.56M
Net Debt	-475M	-416M	-468M	-391M	-604M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-579K	-1.43M	-1.98M	-2.56M	-2.92M
Debt Equivalent Oper. Leases	65.35M	2.16M	512K	2.01M	4M
Equity Method Investments, Total	778M	743M	849M	686M	862M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	112M	119M	175M	356M	409M
Inventories - Work In Process, Total	53.67M	39.92M	31.63M	114M	91.63M
Inventories - Finished Goods, Total	20.43M	17.9M	18.5M	84.83M	65.36M
Land - (BS)	-	-	137M	171M	190M
Buildings, Total	87.35M	135M	-	-	-
Machinery, Total	266M	269M	329M	394M	475M
Full Time Employees	2.34K	2.58K	3.31K	4.26K	4.54K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	278K	361K	444K	642K	1.45M
Order Backlog	351M	324M	811M	1.67B	1.43B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	329M	285M	495M	389M	752M
Depreciation & Amortization - CF	52.97M	53.57M	67M	79.69M	92.81M
Amortization of Goodwill and Intangible Assets - (CF)	14.46M	13.15M	12.22M	6.05M	36.59M
Depreciation & Amortization, Total	67.42M	66.72M	79.22M	85.74M	129M
Amortization of Deferred Charges, Total - (CF)	20.12M	25.05M	26.61M	36.69M	46.86M
(Gain) Loss From Sale Of Asset	-	-	-4.07M	-40K	185K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	215M	-215M
Asset Writedown & Restructuring Costs	4.76M	10.13M	-6.01M	-20.51M	-27.58M
(Income) Loss On Equity Investments - (CF)	-18.04M	-44.81M	-86.6M	-64.77M	-17.54M
Stock-Based Compensation (CF)	10.54M	12.79M	17.24M	29.88M	37.31M
Other Operating Activities, Total	52.75M	51.61M	-72.86M	29.47M	-13.69M
Change In Accounts Receivable	-23.94M	-93M	-154M	-125M	89.14M
Change In Inventories	3.06M	498K	-39.15M	-277M	-3.54M
Change In Accounts Payable	81.13M	-12.7M	103M	291M	-9.31M
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	-37.95M	-37.33M	22.49M	-48.18M	-32.04M
Cash from Operations	489M	264M	381M	541M	736M
Capital Expenditure	-48.71M	-95.44M	-72.2M	-101M	-154M
Sale of Property, Plant, and Equipment	28K	2.35M	6.16M	940K	3.56M
Cash Acquisitions	-	-	-	-314M	-
Sale (Purchase) of Intangible assets	-62.52M	-67.36M	-84.65M	-107M	-164M
Investment in Marketable and Equity Securities, Total	-	-	-	-1.97M	-5.64M
Other Investing Activities, Total	31.96M	16.14M	36.3M	48.92M	30.75M
Cash from Investing	-79.24M	-144M	-114M	-475M	-289M
Long-Term Debt Repaid, Total	-12.05M	-7.82M	-7.85M	-10.29M	-12.6M
Total Debt Repaid	-12.05M	-7.82M	-7.85M	-10.29M	-12.6M
Issuance of Common Stock	6.77M	2.77M	4.63M	-	863K
Repurchase of Common Stock	-101M	-66.72M	-140M	-	-101M
Common Dividends Paid	-99.3M	-98.69M	-96.89M	-122M	-123M
Common & Preferred Stock Dividends Paid	-99.3M	-98.69M	-96.89M	-122M	-123M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-660K	-
Cash from Financing	-206M	-170M	-240M	-133M	-236M
Foreign Exchange Rate Adjustments	7.99M	-12.24M	30.29M	-6.2M	7.15M
Net Change in Cash	212M	-62.65M	56.28M	-72.19M	218M
Supplemental Items
Cash Income Tax Paid (Refund)	6.19M	8.06M	152M	90.48M	119M
Levered Free Cash Flow	283M	95.41M	117M	178M	337M
Unlevered Free Cash Flow	285M	96.66M	118M	179M	339M
Change In Net Working Capital	-66.62M	47.85M	146M	154M	-35.6M
Net Debt Issued / Repaid	-12.05M	-7.82M	-7.85M	-10.29M	-12.6M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	11.49	9.21	12.07	12.03	10.23
Return on Total Capital	13.27	10.91	14.41	15.41	13.51
Return On Equity %	19.02	15.54	24.15	15.59	25.17
Return on Common Equity	19.02	15.54	24.15	15.59	25.17
Margin Analysis
Gross Profit Margin %	49.73	46.95	47.87	47.4	48.27
SG&A Margin	11.6	11.85	10.96	11.35	11.72
EBITDA Margin %	33.47	28.88	31.69	28.94	29.21
EBITA Margin %	29.92	25.42	28.29	26.04	26.17
EBIT Margin %	28.79	24.43	27.58	25.79	24.78
Income From Continuing Operations Margin %	25.63	21.49	28.6	16.14	28.55
Net Income Margin %	25.63	21.49	28.6	16.14	28.55
Net Avail. For Common Margin %	25.63	21.49	28.6	16.14	28.55
Normalized Net Income Margin	18.86	16.2	21.5	18.82	15.74
Levered Free Cash Flow Margin	22.07	7.18	6.75	7.38	12.79
Unlevered Free Cash Flow Margin	22.16	7.28	6.83	7.42	12.88
Asset Turnover
Asset Turnover	0.64	0.6	0.7	0.75	0.66
Fixed Assets Turnover	7.53	6.18	6.64	7.68	6.9
Receivables Turnover (Average Receivables)	5.9	4.82	4.42	4.35	4.42
Inventory Turnover (Average Inventory)