BE Semiconductor (BESI) AI Stock Analysis

BE Semiconductor

(Amsterdam:BESI)

Select Model

Rating:64Neutral

Price Target:EUR 174.00▲(12.19% Upside)

Action:reiterated

Date:10/28/26

The score is supported primarily by strong TTM financial performance (robust margins, improving leverage, and solid cash conversion). This is offset by weak technical positioning (price below key moving averages with negative MACD) and a relatively expensive valuation (high P/E with a modest dividend yield).

Positive Factors

Revenue recovery and strong marginsTTM revenue recovery and stronger margins show Besi can convert renewed semiconductor demand into improved operating earnings. The combination of growth and operating leverage strengthens internal funding capacity and provides a more resilient base for investment over the next several quarters.

Negative Factors

Cyclical revenue demandInconsistent annual revenue growth demonstrates that Besi remains exposed to semiconductor industry cycles and customer capital-expenditure timing. Downturns or delayed capacity additions can interrupt the recent rebound, making future revenue and earnings less predictable across the next several quarters.

BE Semiconductor (BESI) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 12.43B
Dividend Yield: 1.03%
Average Volume (3M): 505.20K
Price to Earnings (P/E): 42.4
Beta (1Y): 1.99
Revenue Growth: 52.92%
EPS Growth: 94.33%
Country: Netherlands
Employees: 1,902
Sector: General
Sector Strength: 55
Industry: Semiconductors

BE Semiconductor Business Overview & Revenue Model

Company Description

BE Semiconductor Industries N.V. (BESI) specializes in the creation, manufacturing, global distribution, and servicing of advanced machinery vital for semiconductor assembly within the electronics and chip manufacturing industries. Its extensive prod...

How the Company Makes Money

Besi primarily makes money by selling semiconductor assembly equipment (capital equipment) to chip manufacturers and OSATs. Revenue is largely generated from (1) system sales: customers purchase Besi tools (e.g., die attach and packaging/assembly sys...

BE Semiconductor Financial Statement Overview

Summary

Strong TTM rebound with revenue up ~20.5% and high profitability (gross margin ~62.5%, EBIT margin ~36.2%, net margin ~28.4%). Cash generation is solid with operating cash flow slightly exceeding net income (~1.17x) and free cash flow closely tracking earnings (~0.97x). Balance sheet leverage improved meaningfully (debt-to-equity ~0.62), but results and cash flow show cyclical volatility across years.

Income Statement

84Very Positive

Balance Sheet

76Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	884.50M	591.33M	607.47M	578.86M	722.87M	749.30M
Gross Profit	560.45M	374.27M	395.94M	375.79M	443.07M	446.82M
EBITDA	400.21M	206.78M	224.19M	245.09M	310.69M	332.37M
Net Income	290.58M	131.64M	181.99M	177.08M	240.65M	282.42M
Balance Sheet
Total Assets	1.27B	1.11B	1.23B	896.55M	1.14B	1.14B
Cash, Cash Equivalents and Short-Term Investments	591.89M	542.99M	342.32M	188.48M	491.69M	451.39M
Total Debt	355.33M	529.63M	544.71M	319.16M	342.88M	312.48M
Total Liabilities	605.65M	697.35M	733.21M	475.14M	506.65M	524.77M
Stockholders Equity	662.08M	416.40M	501.26M	421.41M	628.53M	619.27M
Cash Flow
Free Cash Flow	287.71M	162.35M	169.61M	180.55M	243.48M	249.50M
Operating Cash Flow	295.80M	178.14M	201.08M	208.57M	271.87M	277.85M
Investing Cash Flow	-81.09M	113.05M	-136.48M	-72.95M	16.32M	-24.84M
Financing Cash Flow	-191.91M	-261.28M	88.67M	-439.80M	-247.68M	-182.07M

BE Semiconductor Technical Analysis

Technical Analysis SentimentNegative

Last Price155.10

Price Trends

50DMA181.35Negative

100DMA214.09Negative

200DMA214.11Negative

Market Momentum

MACD-8.64Negative

RSI39.82Neutral

STOCH67.40Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:BESI, the sentiment is Negative. The current price of 155.10 is below the 20-day moving average (MA) of 167.06, below the 50-day MA of 181.35, and below the 200-day MA of 214.11, indicating a bearish trend. The MACD of -8.64 indicates Negative momentum. The RSI at 39.82 is Neutral, neither overbought nor oversold. The STOCH value of 67.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:BESI.

BE Semiconductor Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:BESI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:ASML	76Outperform	EUR 539.67B	40.34	63.91%	0.57%	22.54%	44.56%
NL:ASM	73Outperform	EUR 35.51B	35.76	22.92%	0.45%	13.38%	27.58%
NL:TWEKA	66Neutral	EUR 1.98B	15.40	14.22%	2.72%	9.11%	101.67%
NL:BESI	64Neutral	EUR 12.43B	42.42	55.12%	1.03%	52.92%	94.33%
NL:IMCD	62Neutral	EUR 6.03B	26.22	11.06%	1.77%	2.64%	-14.83%
NL:AALB	61Neutral	EUR 4.45B	29.44	6.21%	2.79%	0.24%	2.12%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

NL:BESI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:BESI	BE Semiconductor Industries NV BESI	154.00	9.11	6.29%
NL:AALB	Aalberts Industries N.V.	41.22	14.87	56.46%
NL:ASM	Asm International Nv	729.80	168.78	30.09%
NL:ASML	ASML Holding NV	1412.80	491.93	53.42%
NL:IMCD	IMCD N.V.	102.25	15.92	18.44%
NL:TWEKA	TKH Group N.V.	49.58	12.73	34.56%

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.

Date of analysis: Oct 28, 2026

BE Semiconductor AI Stock Analysis