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ASM International
(OTC:ASMIY)
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Rating:75Outperform
Price Target:
$932.00
▼(-3.57% Downside)
Action:Reiterated
Date:10/28/26
The score is driven primarily by very strong fundamentals (high margins, improving leverage, and a near debt-free balance sheet) and a bullish earnings call with ambitious growth targets. This is tempered by weak technicals (below major moving averages with bearish momentum) and limited valuation support (high P/E and low dividend yield).
Positive Factors
Strong Profitability
ASM International’s high gross and operating margins show strong economics in its deposition-equipment franchise. Sustained profitability provides resources for research, customer support, and capacity investment while helping absorb cyclical semiconductor demand over the next several quarters.
Negative Factors
Logic/Foundry Concentration
The heavy reliance on logic and foundry customers makes results sensitive to node transitions, customer production plans, and spending cadence in one major segment. Smaller memory and power/analog contributions provide diversification, but currently do not fully offset this concentration.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
ASM International’s high gross and operating margins show strong economics in its deposition-equipment franchise. Sustained profitability provides resources for research, customer support, and capacity investment while helping absorb cyclical semiconductor demand over the next several quarters.
Read all positive factors
ASM International (ASMIY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.23B
Dividend Yield0.46%
Average Volume (3M)344.00
Price to Earnings (P/E)33.8
Beta (1Y)1.36
Revenue Growth10.55%
EPS Growth116.79%
CountryUS
Employees4,519
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)22.07
Shares Outstanding49,328,550
10 Day Avg. Volume0
30 Day Avg. Volume344
Financial Highlights & Ratios
PEG Ratio22.98
Price to Book (P/B)6.28
Price to Sales (P/S)8.26
P/FCF Ratio30.86
Enterprise Value/Market Cap1.37
Enterprise Value/Revenue16.38
Enterprise Value/Gross Profit31.59
Enterprise Value/Ebitda37.14
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)26.91
Revenue Forecast (FY)$4.76B
ASM International Business Overview & Revenue Model
Company Description
ASM International N.V., together with its subsidiary companies, operates internationally, focusing on the design, production, sales, and maintenance of cutting-edge equipment and specialized materials vital for creating semiconductor devices. Thei...
How the Company Makes Money
ASMI primarily makes money by selling semiconductor manufacturing equipment (capital equipment) and by providing recurring services and support associated with its installed base. The company’s largest revenue stream is the sale of deposition tool...
ASM International Earnings Call Summary
Earnings Call Date:Oct 27, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 23, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. ASM reported record revenue, significant year-on-year growth, improved operating profitability, strong cash generation, expanding customer visibility, and a 2027 revenue target of more than EUR 5.7 billion that reaches the prior 2030 target three years early. The company also highlighted substantial opportunities in 1.4 nanometer, high-performance DRAM, advanced packaging, photonics, PECVD, and Flowable Carbon. The main negative topics were tight supply-chain conditions, incomplete conversion of customer visibility into purchase orders, a currency translation loss, higher expenses and an R&D impairment, limited expected China growth, and regulatory uncertainty. These challenges were explicitly acknowledged but did not outweigh the breadth and magnitude of the reported growth and opportunity.Positive Updates
Record Third-Quarter Revenue and Strong Growth
Q3 revenue reached a new record of $1.16 billion, at the upper end of the guided range at constant currencies. Revenue increased 44% year-on-year at constant currencies and 14% sequentially; the CEO also described year-on-year growth as 45%.
Negative Updates
Supply Chain Constraints and 2027 Execution Risk
Supply chain conditions are increasingly tight, with stress at several critical suppliers and some components in short supply. Management described the supply chain as challenging, acknowledged that there is risk, and said it will remain an increased risk going into 2027.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Third-Quarter Revenue and Strong Growth
Q3 revenue reached a new record of $1.16 billion, at the upper end of the guided range at constant currencies. Revenue increased 44% year-on-year at constant currencies and 14% sequentially; the CEO also described year-on-year growth as 45%.
Read all positive updates
Company Guidance
ASM expects Q4 revenue of EUR 1.23 billion, plus or minus 5%, at constant currencies, full-year revenue growth of approximately 35% at constant currencies, equipment revenue growth of more than 40%, full-year gross margin of around 52%, SG&A of around 8% of revenue, and full-year CapEx to exceed EUR 250 million; for 2027, it projects revenue to exceed EUR 5.7 billion at constant currencies, with industry growth over 30%, R&D at least low double digits, SG&A below 7%, equipment growth exceeding service products growth, 1.4 nanometer the biggest contributor, further growth in 2 nanometer, strong growth in memory, and the recovery in power, analog, and wafer to strengthen further, while it expects good growth continuing beyond 2027 into 2028 and 1.4 nanometer HVM production in 2028.ASM International Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.36B | 3.05B | 2.93B | 2.63B | 2.41B | 1.73B |
| Gross Profit | 1.74B | 1.58B | 1.48B | 1.27B | 1.14B | 828.13M |
| EBITDA | 1.48B | 1.15B | 990.54M | 834.57M | 628.93M | 694.92M |
| Net Income | 1.07B | 695.14M | 685.73M | 752.07M | 389.11M | 494.71M |
Balance Sheet | ||||||
| Total Assets | 6.13B | 5.33B | 5.16B | 4.23B | 3.75B | 2.71B |
| Cash, Cash Equivalents and Short-Term Investments | 1.18B | 1.03B | 926.00M | 637.26M | 419.31M | 491.51M |
| Total Debt | 70.47M | 63.97M | 35.26M | 33.56M | 28.12M | 23.46M |
| Total Liabilities | 1.69B | 1.33B | 1.41B | 999.92M | 1.00B | 469.33M |
| Stockholders Equity | 4.45B | 4.00B | 3.75B | 3.23B | 2.75B | 2.24B |
Cash Flow | ||||||
| Free Cash Flow | 643.96M | 815.59M | 532.92M | 418.18M | 333.01M | 223.79M |
| Operating Cash Flow | 996.27M | 1.03B | 897.65M | 735.89M | 541.49M | 380.64M |
| Investing Cash Flow | -629.93M | -608.59M | -349.97M | -289.04M | -474.88M | -114.40M |
| Financing Cash Flow | -287.16M | -301.13M | -301.03M | -236.05M | -132.60M | -240.26M |
ASM International Technical Analysis
Negative
966.47
Price Trends
938.18
Negative
989.67
Negative
932.06
Negative
Market Momentum
-45.53
Positive
37.85
Neutral
21.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASMIY, the sentiment is Negative. The current price of 966.47 is above the 20-day moving average (MA) of 923.53, above the 50-day MA of 938.18, and above the 200-day MA of 932.06, indicating a bearish trend. The MACD of -45.53 indicates Positive momentum. The RSI at 37.85 is Neutral, neither overbought nor oversold. The STOCH value of 21.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASMIY.
ASM International Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $40.23B | 33.83 | 25.91% | 0.46% | 10.55% | 116.79% | |
73 Outperform | $314.21B | 33.93 | 40.44% | 0.50% | 7.77% | 38.45% | |
73 Outperform | $300.86B | 35.68 | 71.75% | 0.46% | 33.36% | 48.32% | |
69 Neutral | $200.53B | 41.71 | 85.38% | 0.55% | 11.72% | 20.58% | |
68 Neutral | $10.51B | 79.91 | 6.50% | ― | 8.08% | -33.87% | |
65 Neutral | $2.68B | 114.46 | 2.62% | ― | -2.52% | -64.30% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
ASMIY
ASM International
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.