Update shared on 19 Nov 2025
Fair value Increased 1.48%ASM International's analyst price target has increased from €617.05 to €626.16, as analysts cite continued margin strength and a positive outlook, despite a slightly lower revenue growth projection.
Analyst Commentary
Recent changes in analyst coverage for ASM International reflect differing perspectives on the company's growth outlook and valuation. Several analysts have made significant adjustments to their price targets in recent months, supporting both bullish and cautious views.
Bullish Takeaways
- Bullish analysts have raised their price targets, with recent updates setting new highs. This reflects growing confidence in ASM International's long-term value.
- There is continued optimism regarding the company's ability to sustain margin strength. This is seen as a key driver for upward earnings revisions and valuation expansion.
- The company's execution in a challenging market environment is regarded as robust. This supports a positive stance on future growth despite lapses in revenue momentum.
- Overall, buy ratings have been maintained across major coverage updates. This reinforces the consensus that ASM International has solid fundamentals.
Bearish Takeaways
- Bearish analysts have become more cautious on prospects for near-term revenue growth, which has led to some downward adjustments in price targets.
- Certain price target reductions signal concerns about potential challenges in sustaining the recent pace of earnings growth.
- There is some uncertainty around valuation, with higher price levels perceived to already reflect much of the prospective upside.
What's in the News
- ASM International provided revenue guidance for the fourth quarter 2025, expecting revenue in the range of €630 to €660 million, and projected close to 10% revenue growth for full year 2025 at constant currencies (Key Developments).
- Despite anticipating a slower start in 2026, ASM International expects its revenue to continue growing into that year (Key Developments).
- The company updated its long-term outlook and is targeting revenue of more than €5.7 billion by 2030. ASM International also adjusted its 2027 revenue target to €3.7 to €4.6 billion after currency adjustment (Key Developments).
- ASM International lowered revenue guidance for the fourth quarter and full year of 2025 due to weaker demand in leading-edge logic/foundry and certain other markets. The company now expects second half 2025 revenue to be 5% to 10% lower than in the first half (Key Developments).
- The updated outlook now places 2025 full-year revenue growth at the lower end of the previously guided 10% to 20% range (Key Developments).
Valuation Changes
- Consensus Analyst Price Target has risen slightly from €617.05 to €626.16, reflecting updated expectations for the company's value.
- Discount Rate increased from 8.24% to 8.40%, indicating a marginally higher perceived risk or cost of capital in analyst models.
- Revenue Growth projections have edged down from 11.81% to 11.45%, suggesting a more cautious outlook on top-line expansion.
- Net Profit Margin improved slightly from 25.24% to 25.31%, supporting continued expectations for margin strength.
- Future P/E ratio has gone up from 32.42x to 33.27x, reflecting increased valuation multiples assigned by analysts.
Disclaimer
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