ASM INTERNATIONAL NV Financials ASM International NV OTC Markets
Equities
ASMIY
USN070451026
Semiconductor Equipment & Testing
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 660.5 USD | -0.84% |
|
+5.55% | +27.21% |
| 04-25 | The specter of stagflation rears its ugly head again |  |
| 04-25 | ASM INTERNATIONAL : Q1 24: Strong start to the year, full year growth outlook maintained |  |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,872 | 8,764 | 18,954 | 11,485 | 23,117 | 30,532 | - | - |
| Enterprise Value (EV) 1 | 4,374 | 8,329 | 18,479 | 11,085 | 22,503 | 29,693 | 29,412 | 28,846 |
| P/E ratio | 15.2 x | 31.1 x | 38.4 x | 29.7 x | 31 x | 46 x | 34.3 x | 28 x |
| Yield | 1.5% | 1.11% | 0.64% | 1.06% | 0.59% | 0.55% | 0.66% | 0.76% |
| Capitalization / Revenue | 3.79 x | 6.6 x | 11 x | 4.76 x | 8.78 x | 10.7 x | 8.54 x | 7.3 x |
| EV / Revenue | 3.41 x | 6.27 x | 10.7 x | 4.6 x | 8.54 x | 10.4 x | 8.23 x | 6.89 x |
| EV / EBITDA | 9.57 x | 20.5 x | 31.5 x | 14.7 x | 27 x | 31.9 x | 24.1 x | 19.5 x |
| EV / FCF | 9.94 x | 48.6 x | 59.9 x | 25.2 x | 38.7 x | 72.8 x | 38.9 x | 28.7 x |
| FCF Yield | 10.1% | 2.06% | 1.67% | 3.97% | 2.59% | 1.37% | 2.57% | 3.49% |
| Price to Book | 2.72 x | 4.73 x | 8.42 x | 4.23 x | 7.17 x | 8.32 x | 7.14 x | 6.05 x |
| Nbr of stocks (in thousands) | 48,649 | 48,703 | 48,763 | 48,740 | 49,191 | 49,214 | - | - |
| Reference price 2 | 100.2 | 180.0 | 388.7 | 235.6 | 470.0 | 620.4 | 620.4 | 620.4 |
| Announcement Date | 25/02/20 | 25/02/21 | 22/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,284 | 1,328 | 1,730 | 2,411 | 2,634 | 2,844 | 3,575 | 4,185 |
| EBITDA 1 | 457 | 405.4 | 587 | 754.9 | 834.6 | 931.9 | 1,222 | 1,479 |
| EBIT 1 | 378.7 | 327.1 | 491.5 | 632.4 | 699.5 | 763.2 | 1,025 | 1,270 |
| Operating Margin | 29.5% | 24.63% | 28.41% | 26.23% | 26.55% | 26.83% | 28.67% | 30.34% |
| Earnings before Tax (EBT) 1 | 382.7 | 334.1 | 597.3 | 505 | 866.5 | 850.6 | 1,112 | 1,364 |
| Net income 1 | 329 | 285.4 | 494.7 | 389.1 | 752.1 | 670.1 | 877.5 | 1,061 |
| Net margin | 25.62% | 21.49% | 28.6% | 16.14% | 28.55% | 23.56% | 24.55% | 25.35% |
| EPS 2 | 6.580 | 5.780 | 10.11 | 7.930 | 15.18 | 13.48 | 18.07 | 22.18 |
| Free Cash Flow 1 | 440.2 | 171.3 | 308.4 | 440.3 | 581.8 | 407.6 | 756.5 | 1,007 |
| FCF margin | 34.29% | 12.9% | 17.83% | 18.26% | 22.08% | 14.33% | 21.16% | 24.06% |
| FCF Conversion (EBITDA) | 96.32% | 42.24% | 52.55% | 58.33% | 69.71% | 43.74% | 61.92% | 68.05% |
| FCF Conversion (Net income) | 133.8% | 60.01% | 62.35% | 113.16% | 77.36% | 60.83% | 86.21% | 94.88% |
| Dividend per Share 2 | 1.500 | 2.000 | 2.500 | 2.500 | 2.750 | 3.431 | 4.079 | 4.734 |
| Announcement Date | 25/02/20 | 25/02/21 | 22/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 491.3 | 516.9 | 559.5 | 609.8 | 724.8 | 710 | 669.1 | 622.3 | 632.9 | 639 | 685.7 | 735.1 | 805.3 | 837.7 | 896 |
| EBITDA 1 | 158 | 168.5 | 174.7 | 191.5 | 220.2 | 263 | 214.5 | 190.9 | 183.3 | 233.4 | 216.6 | 217.5 | 242.8 | 273 | 294.1 |
| EBIT 1 | 131.3 | 143 | 147.6 | 159.9 | 181.9 | 204.2 | 170.7 | 157.2 | 141 | 191.8 | 182.5 | 186.5 | 210.2 | 234.5 | 257.8 |
| Operating Margin | 26.72% | 27.66% | 26.38% | 26.22% | 25.1% | 28.76% | 25.51% | 25.26% | 22.28% | 30.02% | 26.62% | 25.37% | 26.1% | 27.99% | 28.77% |
| Earnings before Tax (EBT) 1 | 160.1 | 172.1 | 197.6 | -119.7 | 254.9 | 417.8 | 187.7 | 151.5 | 109.5 | 219.1 | 205.4 | 206.4 | 229.1 | 256 | 263 |
| Net income 1 | 134.9 | 142.5 | 160.4 | -150.5 | 236.6 | 380.4 | 151.2 | 129.6 | 90.94 | 173.1 | 158.7 | 152.9 | 170.7 | 204.5 | 217.4 |
| Net margin | 27.45% | 27.57% | 28.67% | -24.68% | 32.65% | 53.57% | 22.6% | 20.83% | 14.37% | 27.09% | 23.14% | 20.8% | 21.2% | 24.41% | 24.26% |
| EPS 2 | 2.760 | 2.920 | 3.280 | -3.090 | 4.770 | 7.670 | 3.040 | 2.620 | 1.840 | 3.500 | 3.228 | 3.234 | 3.640 | 4.213 | 4.394 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | 2.750 | - | 2.289 | - | - | - | 3.921 |
| Announcement Date | 22/02/22 | 20/04/22 | 20/07/22 | 25/10/22 | 28/02/23 | 25/04/23 | 25/07/23 | 24/10/23 | 27/02/24 | 23/04/24 | - | - | - | - | - |
1EUR in Million2EUR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 498 | 435 | 476 | 401 | 615 | 840 | 1,121 | 1,686 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 440 | 171 | 308 | 440 | 582 | 408 | 757 | 1,007 |
| ROE (net income / shareholders' equity) | 19% | 15.5% | 24.2% | 15.6% | 19.5% | 19.1% | 21.7% | 23.4% |
| ROA (Net income/ Total Assets) | 16.4% | 13% | 20% | 12% | 14.6% | 14% | 15.7% | 16.7% |
| Assets 1 | 2,012 | 2,203 | 2,471 | 3,231 | 5,144 | 4,788 | 5,581 | 6,371 |
| Book Value Per Share 2 | 36.90 | 38.10 | 46.20 | 55.70 | 65.60 | 74.60 | 86.90 | 103.0 |
| Cash Flow per Share 2 | 9.780 | 5.360 | 7.780 | 11.00 | 14.80 | 16.30 | 20.70 | 24.90 |
| Capex 1 | 48.7 | 93.1 | 72.2 | 101 | 154 | 177 | 187 | 191 |
| Capex / Sales | 3.79% | 7.01% | 4.17% | 4.2% | 5.85% | 6.23% | 5.23% | 4.57% |
| Announcement Date | 25/02/20 | 25/02/21 | 22/02/22 | 28/02/23 | 27/02/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
620.4
EUR
Average target price
627.6
EUR
Spread / Average Target
+1.16%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +26.71% | 172B | |
| +42.54% | 35.5B | |
| -13.89% | 29.48B | |
| +27.31% | 23.33B | |
| -11.00% | 12.07B | |
| -7.37% | 10.61B | |
| +128.20% | 9.71B | |
| +39.97% | 6.39B | |
| -25.02% | 4.8B |
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