ASM International ASM.AS
ASM International is a Dutch supplier of equipment and solutions for thin-film deposition (ALD, epitaxy) for semiconductor manufacturing, with a business model based on cutting-edge technology for clients such as TSMC, Intel, and Samsung. ASM International shows solid financial health (net cash, DN/EBITDA -0.96) and exceptional growth (revenue +20%, earnings +41.5%), but its demanding valuation (P/E 38.6, EV/EBITDA 34.9) and the potential peak of the semiconductor cycle limit its appeal.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
ASM International is a Dutch supplier of equipment and solutions for thin-film deposition (ALD, epitaxy) for semiconductor manufacturing, with a business model based on cutting-edge technology for clients such as TSMC, Intel, and Samsung. ASM International shows solid financial health (net cash, DN/EBITDA -0.96) and exceptional growth (revenue +20%, earnings +41.5%), but its demanding valuation (P/E 38.6, EV/EBITDA 34.9) and the potential peak of the semiconductor cycle limit its appeal.
Score by category
| Category | Score |
|---|---|
| Financial health | 8.5 |
| Quality / Moat | 7.0 |
| Valuation | 4.0 |
| Growth | 8.0 |
| Dividend | 3.6 |
| Momentum | 5.6 |
| Risk & Context | 3.5 |
OVERALL SCORE: 5.9/10
Context and risks
ASM is exposed to geopolitical tensions in semiconductors (US-China export controls) and uncertainty about the sustainability of the AI capex cycle, which could slow demand for its equipment. The rise in 10Y US yields pressures its long-duration valuation (P/E 38.6).
News considered in the analysis
- The Zacks Analyst Blog Highlights Analog Devices, Semtech, Taiwan Semiconductor and ASM — Listículo promocional de Zacks sin información nueva sobre ASM.
- 4 Top-Ranked Chip Stocks to Buy for Better Returns in October — Listículo genérico de recomendaciones sin catalizador específico para ASM.
- European AI-linked stocks rally After Anthropic’s $11.6 bln computing deal — El acuerdo de Anthropic refuerza la demanda de capacidad de cómputo, beneficiando indirectamente a ASM como proveedor de equipos de semiconductores.
- European AI-Related Stocks Rally as Confidence Returns — El repunte de la confianza en valores de IA europeos apoya el sentimiento positivo hacia ASM, aunque sin impacto directo en sus fundamentales.
- Tech, Media & Telecom Roundup: Market Talk — Compilación de comentarios de mercado sin información específica o material sobre ASM.
Verdict: Hold; quality and growth are high, but the valuation already discounts much of the good news and the AI cycle may be near its peak.
Main risk: Risk that the AI capex cycle decelerates, reducing demand for deposition equipment and leaving current growth (41.5%) below expectations, with a valuation that leaves no room for error.
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