Want to see HK:0522 full AI Analyst Report?
Top Page
ASMPT Ltd
(0522)
Select Model
Select Model
Rating:56Neutral
Price Target:
HK$125.00
â–¼(-22.31% Downside)
Action:Reiterated
Date:10/28/26
The score is held back primarily by weakened financial performance (notably negative 2025 free cash flow) and bearish technicals with the stock trading below major moving averages. These are partially offset by a strong, AI-driven earnings-call outlook with record bookings and upbeat guidance, while valuation remains somewhat demanding given the 33.2 P/E and modest yield.
Positive Factors
Strong balance sheet
Moderate leverage and a growing equity base provide ASMPT with financial flexibility through semiconductor-cycle volatility. This supports continued investment in technology and capacity while reducing the risk that weaker periods force overly defensive capital allocation or constrain strategic options.
Negative Factors
Weak recent financial performance
The sharp 2025 revenue decline and reduced profitability show that ASMPT remains exposed to semiconductor and electronics demand cycles. Even with a recent recovery, earnings are still below prior peaks, limiting the certainty that improved quarterly results will translate into durable annual growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Moderate leverage and a growing equity base provide ASMPT with financial flexibility through semiconductor-cycle volatility. This supports continued investment in technology and capacity while reducing the risk that weaker periods force overly defensive capital allocation or constrain strategic options.
Read all positive factors
ASMPT Ltd (0522) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$47.48B
Dividend Yield1.86%
Average Volume (3M)2.54M
Price to Earnings (P/E)31.0
Beta (1Y)0.66
Revenue Growth21.38%
EPS Growth414.20%
CountryHK
Employees9,000
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)5.58
Shares Outstanding419,408,230
10 Day Avg. Volume3,338,892
30 Day Avg. Volume2,544,486
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.58
Price to Sales (P/S)1.96
P/FCF Ratio-106.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$224.20Price Target Upside39.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)4.45
Revenue Forecast (FY)HK$19.43B
ASMPT Ltd Business Overview & Revenue Model
Company Description
Operating on a global scale, ASMPT Limited functions as an investment holding company dedicated to the engineering, manufacturing, and commercialization of critical machinery, tools, and materials for the semiconductor and electronics assembly ind...
ASMPT Ltd Earnings Call Summary
Earnings Call Date:Oct 27, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Positive
The call was strongly positive, supported by record bookings, substantial year-on-year revenue and profit growth, improving gross margins, robust AI-driven demand across TCB, Photonics, SEMI and SMT, and Q4 guidance above consensus. The main challenges were delayed memory investment schedules, 6 to 9 month advanced-packaging lead times, sequentially lower SEMI segment profit, higher operating expenses, sluggish consumer end markets and Q4 bookings expected below the Q3 record due to one-off orders and pull-ins. Overall, the highlights significantly outweighed the lowlights.Positive Updates
Record Group Bookings and Strong Book-to-Bill
Q3 group bookings reached a record USD 1.13 billion, up 24.7% quarter-on-quarter and 137.9% year-on-year, driven by continued AI infrastructure investments, one-off bulk orders and demand pull-in due to extended lead times. Book-to-bill was 1.69, the highest since Q1 2021.
Negative Updates
Memory Investment Schedules Were Pushed Out
In memory TCB, customers are reassessing the balance between memory density, thermal management and cost. Larger capability-driven investments are being pushed out, although management believes capacity additions and selective upgrades remain necessary and views this as an adjustment to timing rather than a change in underlying demand.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Group Bookings and Strong Book-to-Bill
Q3 group bookings reached a record USD 1.13 billion, up 24.7% quarter-on-quarter and 137.9% year-on-year, driven by continued AI infrastructure investments, one-off bulk orders and demand pull-in due to extended lead times. Book-to-bill was 1.69, the highest since Q1 2021.
Read all positive updates
Company Guidance
Management expects Q4 2026 revenue to be in the range of USD 670 million and USD 730 million, with a midpoint of USD 700 million representing an increase of 4.6% Q-on-Q and 37.5% year-on-year; double-digit SMT revenue growth, SEMI revenue flat, and Q4 bookings significantly elevated year-on-year but below Q3 record level. AI demand is expected to drive sustained revenue growth in 2027; AP lead time remains 6 to 9 months, Photonics is expected to be a high-growth year in '26, with Photonics to grow significantly in second half compared to the first half and growth in 2027, NPO to ramp earlier than CPO, and CPO volume production more towards the end of this decade. TCB TAM is expected to expand beyond $1.6 billion by 2028, panel orders could come potentially late '27 with revenue realization starting with 2028, and hybrid bonding demand growth would happen probably in the next 12 to 18 months.ASMPT Ltd Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
72
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.33B | 13.74B | 12.48B | 14.70B | 19.36B | 21.95B |
| Gross Profit | 7.51B | 5.26B | 5.29B | 5.77B | 7.97B | 8.91B |
| EBITDA | 4.19B | 1.39B | 1.28B | 1.93B | 4.10B | 4.80B |
| Net Income | 2.25B | 902.03M | 345.26M | 715.35M | 2.62B | 3.17B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 26.16B | 23.67B | 23.96B | 24.78B | 26.50B |
| Cash, Cash Equivalents and Short-Term Investments | 5.88B | 5.68B | 5.10B | 4.80B | 4.41B | 4.88B |
| Total Debt | 0.00 | 4.23B | 4.56B | 4.03B | 3.76B | 4.24B |
| Total Liabilities | -17.30B | 9.03B | 8.38B | 8.16B | 8.92B | 11.09B |
| Stockholders Equity | 17.30B | 17.03B | 15.19B | 15.69B | 15.74B | 15.28B |
Cash Flow | ||||||
| Free Cash Flow | 623.27M | -251.42M | 566.24M | 1.89B | 2.45B | 2.19B |
| Operating Cash Flow | 1.03B | 242.52M | 1.02B | 2.35B | 2.94B | 2.54B |
| Investing Cash Flow | 984.70M | 233.16M | -607.26M | -607.42M | -598.84M | -518.73M |
| Financing Cash Flow | -910.59M | -619.51M | -234.63M | -1.62B | -2.55B | -1.72B |
ASMPT Ltd Technical Analysis
Negative
160.90
Price Trends
155.86
Negative
167.40
Negative
147.25
Negative
Market Momentum
-12.84
Positive
26.03
Positive
14.18
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0522, the sentiment is Negative. The current price of 160.9 is above the 20-day moving average (MA) of 145.91, above the 50-day MA of 155.86, and above the 200-day MA of 147.25, indicating a bearish trend. The MACD of -12.84 indicates Positive momentum. The RSI at 26.03 is Positive, neither overbought nor oversold. The STOCH value of 14.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0522.
ASMPT Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | HK$1.37B | 6.18 | 8.41% | 5.33% | 6.61% | -46.73% | |
58 Neutral | HK$37.19B | 41.38 | 14.45% | 0.29% | 21.04% | 115.77% | |
56 Neutral | HK$47.48B | 31.01 | 8.39% | 1.86% | 21.38% | 414.20% | |
51 Neutral | HK$524.53M | -16.73 | -2.79% | 1.85% | -6.32% | -159.42% | |
41 Neutral | HK$52.21M | -2.07 | -18.17% | 3.19% | -17.27% | 74.09% |
* Technology Sector Average
HK:0522
ASMPT Ltd
113.20
32.21
39.77%
HK:1385
Shanghai Fudan Microelectronics Group Co
22.64
-19.58
-46.37%
HK:2878
Solomon Systech (International) Ltd.
0.21
-0.29
-58.00%
HK:8490
Niche-Tech Semiconductor Materials Limited
0.07
-0.07
-49.66%
HK:0085
China Electronics Huada Technology Company Limited
0.68
-0.75
-52.76%
HK:1304
Fortior Technology (Shenzhen) Co., Ltd. Class H
119.30
-37.73
-24.03%
ASMPT Ltd Corporate Events
ASMPT Books Record Q3 Orders on AI-Driven TCB and Photonics Demand
Oct 27, 2026
ASMPT reported record group bookings in the third quarter of 2026, driven by strong demand for TCB, SMT products and photonics solutions tied to AI infrastructure investments. Revenue from continuing operations rose 6.3% quarter-on-quarter and 48....
ASMPT Updates Board Composition and Committee Roles
Oct 19, 2026
ASMPT Limited has updated its board composition, outlining a mix of independent non‑executive, non‑executive and executive directors, including Chairman John Lok Kam Chong and Group CEO Bassel Haddad. The structure reinforces governanc...
ASMPT Elevates CFO Katie Xu Yifan to Executive Director Role
Oct 19, 2026
ASMPT Limited has appointed Group Chief Financial Officer Katie Xu Yifan as an Executive Director, effective 19 October 2026, adding deep finance and investor relations expertise to its board. Xu, who joined the company in 2022 and was elevated to...
ASMPT Sets Board Meeting to Approve Nine-Month Unaudited Results
Oct 9, 2026
ASMPT Limited has scheduled a meeting of its Board of Directors for 27 October 2026 to review and approve the unaudited consolidated results for the nine months ended 30 September 2026. The company plans to publish these results on the morning of ...
ASMPT Announces 2027 Exit of Independent Director and Audit Chair
Oct 5, 2026
ASMPT Limited has announced that Independent Non-Executive Director Siu Hera Kitwan will resign from the board and step down as Chair of the Audit Committee effective 1 January 2027. Her departure is driven by board seat limitations tied to her mu...
ASMPT Grants CEO Share Award Tied to Performance and Retention
Aug 12, 2026
ASMPT Limited has granted 59,500 shares, representing about 0.01% of its issued share capital, to Director and Group Chief Executive Officer Bassel Haddad under its employee share incentive scheme. The award, approved by the remuneration committee...
ASMPT Sets Out Board Line-up and Committee Roles in Governance Update
Aug 11, 2026
ASMPT Limited has updated its corporate governance disclosure with a detailed list of its board of directors, highlighting a mix of independent non-executive, non-executive and executive leadership led by chairman John Lok Kam Chong and group CEO ...
ASMPT rides AI and advanced packaging boom to strong first-half 2026 results
Jul 28, 2026
ASMPT reported robust first-half 2026 results from continuing operations, with revenue rising 18.9% half-on-half and 42.5% year-on-year to HK$8.90 billion, driven by mainstream and photonics demand and record SMT bookings. The group highlighted AI...
ASMPT declares interim dividend of HKD 0.97 per share for first half of 2026
Jul 28, 2026
ASMPT Limited has declared an interim ordinary dividend of HKD 0.97 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The ex-dividend date is set for 11 August 2026, with the record date on 17 August ...
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.