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ASM International

ENXTAM:ASM
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASM
ENXTAM
€3B
Market Cap
  1. Home
  2. NL
  3. Semiconductors
Company description

ASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices. The last earnings update was 63 days ago. More info.


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ASM Share Price and Events
7 Day Returns
1.7%
ENXTAM:ASM
1.2%
Europe Semiconductor
-0.2%
NL Market
1 Year Returns
14.8%
ENXTAM:ASM
-12.2%
Europe Semiconductor
0.8%
NL Market
ASM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ASM International (ASM) 1.7% 0.5% 16.9% 14.8% 59.5% 77.5%
Europe Semiconductor 1.2% 0.7% 5.4% -12.2% 73.8% 81.3%
NL Market -0.2% 1.3% 2.3% 0.8% 28.4% 24%
1 Year Return vs Industry and Market
  • ASM outperformed the Semiconductor industry which returned -12.2% over the past year.
  • ASM outperformed the Market in Netherlands which returned 0.8% over the past year.
Price Volatility
ASM
Industry
5yr Volatility vs Market

ASM Value

 Is ASM International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ASM International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ASM International.

ENXTAM:ASM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year NL Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTAM:ASM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NL Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.226 (1 + (1- 25%) (0.92%))
1.157
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.37% + (1.157 * 5.96%)
7.27%

Discounted Cash Flow Calculation for ENXTAM:ASM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for ASM International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTAM:ASM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.27%)
2019 144.04 Analyst x5 134.28
2020 169.48 Analyst x6 147.30
2021 83.00 Analyst x1 67.25
2022 43.26 Est @ -47.88% 32.68
2023 28.81 Est @ -33.4% 20.29
2024 22.11 Est @ -23.27% 14.51
2025 18.53 Est @ -16.18% 11.34
2026 16.45 Est @ -11.21% 9.39
2027 15.18 Est @ -7.74% 8.07
2028 14.37 Est @ -5.31% 7.13
Present value of next 10 years cash flows €452.25
ENXTAM:ASM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €14.37 × (1 + 0.37%) ÷ (7.27% – 0.37%)
€209.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €209.22 ÷ (1 + 7.27%)10
€103.75
ENXTAM:ASM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €452.25 + €103.75
€555.99
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €555.99 / 49.34
€11.27
ENXTAM:ASM Discount to Share Price
Calculation Result
Value per share (EUR) From above. €11.27
Current discount Discount to share price of €54.96
= -1 x (€54.96 - €11.27) / €11.27
-387.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of ASM International is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ASM International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ASM International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTAM:ASM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €3.75
ENXTAM:ASM Share Price ** ENXTAM (2019-06-26) in EUR €54.96
Europe Semiconductor Industry PE Ratio Median Figure of 27 Publicly-Listed Semiconductor Companies 23.72x
Netherlands Market PE Ratio Median Figure of 82 Publicly-Listed Companies 17.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ASM International.

ENXTAM:ASM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:ASM Share Price ÷ EPS (both in EUR)

= 54.96 ÷ 3.75

14.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASM International is good value based on earnings compared to the Europe Semiconductor industry average.
  • ASM International is good value based on earnings compared to the Netherlands market.
Price based on expected Growth
Does ASM International's expected growth come at a high price?
Raw Data
ENXTAM:ASM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.9%per year
Europe Semiconductor Industry PEG Ratio Median Figure of 20 Publicly-Listed Semiconductor Companies 1.4x
Netherlands Market PEG Ratio Median Figure of 66 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

ENXTAM:ASM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.65x ÷ 9.9%

1.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASM International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ASM International's assets?
Raw Data
ENXTAM:ASM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €34.77
ENXTAM:ASM Share Price * ENXTAM (2019-06-26) in EUR €54.96
Europe Semiconductor Industry PB Ratio Median Figure of 39 Publicly-Listed Semiconductor Companies 1.78x
Netherlands Market PB Ratio Median Figure of 104 Publicly-Listed Companies 1.93x
ENXTAM:ASM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:ASM Share Price ÷ Book Value per Share (both in EUR)

= 54.96 ÷ 34.77

1.58x

* Primary Listing of ASM International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASM International is good value based on assets compared to the Europe Semiconductor industry average.
X
Value checks
We assess ASM International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. ASM International has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ASM Future Performance

 How is ASM International expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ASM International expected to grow at an attractive rate?
  • ASM International's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • ASM International's earnings growth is expected to exceed the Netherlands market average.
  • ASM International's revenue growth is expected to exceed the Netherlands market average.
Annual Growth Rates Comparison
Raw Data
ENXTAM:ASM Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTAM:ASM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.9%
ENXTAM:ASM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 7%
Europe Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 23%
Europe Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 8.1%
Netherlands Market Earnings Growth Rate Market Cap Weighted Average 9%
Netherlands Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTAM:ASM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTAM:ASM Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,292 1
2022-12-31 1,208 1
2021-12-31 1,040 259 227 5
2020-12-31 977 235 209 12
2019-12-31 930 206 183 12
ENXTAM:ASM Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 908 154 192
2018-12-31 818 137 157
2018-09-30 751 74 334
2018-06-30 734 102 332
2018-03-31 740 116 427
2017-12-31 737 116 452
2017-09-30 722 115 294
2017-06-30 688 102 289
2017-03-31 612 118 171
2016-12-31 598 91 135
2016-09-30 570 102 85
2016-06-30 588 146 95

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ASM International's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • ASM International's revenue is expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTAM:ASM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from ASM International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:ASM Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 6.50 6.50 6.50 1.00
2022-12-31 6.09 6.09 6.09 1.00
2021-12-31 5.00 5.55 4.05 5.00
2020-12-31 4.29 4.92 3.71 10.00
2019-12-31 3.71 4.15 3.28 10.00
ENXTAM:ASM Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 3.75
2018-12-31 3.00
2018-09-30 6.09
2018-06-30 5.90
2018-03-31 7.44
2017-12-31 7.72
2017-09-30 4.99
2017-06-30 4.85
2017-03-31 2.83
2016-12-31 2.23
2016-09-30 1.39
2016-06-30 1.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ASM International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ASM International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ASM International has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ASM Past Performance

  How has ASM International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ASM International's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ASM International has delivered over 20% year on year earnings growth in the past 5 years.
  • ASM International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ASM International's 1-year earnings growth is negative, it can't be compared to the Europe Semiconductor industry average.
Earnings and Revenue History
ASM International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ASM International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:ASM Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 907.89 191.61 127.95 87.41
2018-12-31 818.08 157.13 121.26 87.31
2018-09-30 751.40 333.62 112.13 80.39
2018-06-30 733.75 331.82 107.85 81.08
2018-03-31 739.54 426.93 104.14 84.91
2017-12-31 737.40 452.40 99.93 88.44
2017-09-30 721.95 293.72 100.41 91.14
2017-06-30 688.07 289.48 95.86 92.95
2017-03-31 612.33 170.53 91.64 91.29
2016-12-31 597.93 135.47 91.13 87.55
2016-09-30 570.08 84.80 87.87 87.87
2016-06-30 587.84 94.57 90.55 79.01
2016-03-31 650.07 100.83 94.23 76.87
2015-12-31 669.62 157.28 93.02 73.58
2015-09-30 649.21 168.33 91.61 67.90
2015-06-30 609.44 180.06 87.46 68.27
2015-03-31 556.87 172.83 82.70 63.76
2014-12-31 545.60 138.16 80.61 60.41
2014-09-30 548.25 -217.68 76.06 60.36
2014-06-30 542.48 -273.12 74.37 59.43
2014-03-31 522.67 -331.12 73.06 59.03
2013-12-31 612.28 1,051.89 94.78 75.39
2013-09-30 805.23 1,364.14 129.92 97.89
2013-06-30 1,098.09 1,369.92 165.26 123.02
2013-03-31 1,347.37 1,411.04 200.46 146.22
2012-12-31 1,418.07 7.15 200.80 149.22
2012-09-30 1,450.12 44.33 187.42 147.03
2012-06-30 1,416.97 120.39 178.69 141.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ASM International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ASM International used its assets more efficiently than the Europe Semiconductor industry average last year based on Return on Assets.
  • ASM International has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ASM International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ASM International has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ASM Health

 How is ASM International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up ASM International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ASM International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ASM International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ASM International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • ASM International has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ASM International Company Filings, last reported 2 months ago.

ENXTAM:ASM Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,715.32 0.00 312.50
2018-12-31 1,641.55 0.00 285.91
2018-09-30 1,611.37 0.00 265.64
2018-06-30 1,943.22 0.00 651.17
2018-03-31 1,908.44 0.00 741.10
2017-12-31 2,011.51 0.00 836.46
2017-09-30 1,944.69 0.00 525.27
2017-06-30 1,975.43 0.00 522.78
2017-03-31 2,022.76 0.00 378.94
2016-12-31 1,998.14 0.00 378.16
2016-09-30 1,908.91 0.00 363.00
2016-06-30 1,906.96 0.00 370.12
2016-03-31 1,880.00 0.00 416.34
2015-12-31 1,948.38 0.00 446.92
2015-09-30 1,830.31 0.00 427.92
2015-06-30 1,870.08 0.00 363.01
2015-03-31 1,894.29 0.00 422.81
2014-12-31 1,743.02 0.00 385.78
2014-09-30 1,660.82 0.00 409.59
2014-06-30 1,515.70 0.00 368.34
2014-03-31 1,485.36 0.00 370.78
2013-12-31 1,447.25 0.00 312.44
2013-09-30 1,837.87 0.00 303.61
2013-06-30 2,203.06 0.00 535.44
2013-03-31 2,136.42 0.00 564.60
2012-12-31 1,049.99 80.62 290.48
2012-09-30 978.04 229.35 297.32
2012-06-30 1,018.77 221.49 333.73
  • ASM International has no debt.
  • ASM International had no debt 5 years ago.
  • ASM International has no debt, it does not need to be covered by operating cash flow.
  • ASM International has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess ASM International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. ASM International has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ASM Dividends

 What is ASM International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.82%
Current annual income from ASM International dividends. Estimated to be 2.2% next year.
If you bought €2,000 of ASM International shares you are expected to receive €36 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ASM International's pays a lower dividend yield than the bottom 25% of dividend payers in Netherlands (2.24%).
  • ASM International's dividend is below the markets top 25% of dividend payers in Netherlands (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTAM:ASM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Europe Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.6%
Netherlands Market Average Dividend Yield Market Cap Weighted Average of 69 Stocks 3.9%
Netherlands Minimum Threshold Dividend Yield 10th Percentile 1.6%
Netherlands Bottom 25% Dividend Yield 25th Percentile 2.2%
Netherlands Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTAM:ASM Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.50 1.00
2022-12-31 1.35 1.00
2021-12-31 1.39 5.00
2020-12-31 1.18 9.00
2019-12-31 1.09 9.00
ENXTAM:ASM Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-24 1.000 1.805
2018-05-28 0.800 1.847
2017-03-09 0.700 1.283
2017-03-02 0.700 1.440
2016-05-25 0.700 1.833
2015-05-21 0.600 1.658
2014-04-09 0.500 1.517
2013-05-16 0.500 1.960
2012-08-08 0.500 1.837
2012-05-15 0.500 1.690
2011-05-23 0.400 1.757
2009-10-30 0.000 0.000
2009-10-29 0.000 0.000
2009-09-01 0.000 0.000
2009-07-30 0.000 0.000
2009-06-26 0.000 0.000
2009-04-29 0.000 0.000
2009-03-24 0.000 0.000
2009-02-25 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, ASM International has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but ASM International only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of ASM International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess ASM International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ASM International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ASM International has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ASM Management

 What is the CEO of ASM International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chuck del Prado
COMPENSATION €2,260,000
AGE 57
TENURE AS CEO 11.3 years
CEO Bio

Mr. Charles Dean del Prado, also known as Chuck, has been the Chief Executive Officer and President at ASM International NV since March 1, 2008 and serves as its Chairman of the Management Board. Mr. Del Prado has been a Member of the Management Board at ASM International NV since May 18, 2006. He served as Managing Director of ASM International NV. He served as the President and General Manager of ASM America, Inc., a subsidiary of ASM International NV. from February 1, 2003 to 2008. From January 1, 2008 to February 29, 2008, he acted as Executive Vice President of Front-end Operations. Mr. Del Prado served as Regional Manager for Front-end Operations U.S.A. of ASM International NV. He served with ASM International N.V. as Director of Marketing, Sales & Service of ASM Europe since March 2001. He has two decades of experience in the computer and semiconductor industries. He spent five years as a manager in sales and manufacturing with ASM Lithography, in Taiwan and the Netherlands. Mr. Del Prado worked with IBM Nederland N.V. at the marketing and sales department from 1989 to 1996. He worked in various management capacities with ASM Lithography from February 1996 to 2001 having roles in production, sales, manufacturing and logistics. He serves as Chairman of ASM America, Inc. He has been a Non Executive Director of ASM Pacific Technology Ltd. since April 29, 2010. Mr. Del Prado holds a Master of Science degree from the University of Twente in the Netherlands with a concentration in Industrial Engineering, Computer Science and Technology Management.

CEO Compensation
  • Chuck's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Chuck's remuneration is about average for companies of similar size in Netherlands.
Management Team Tenure

Average tenure and age of the ASM International management team in years:

6.1
Average Tenure
61
Average Age
  • The average tenure for the ASM International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Chuck del Prado

TITLE
Chairman of the Management Board
COMPENSATION
€2M
AGE
57
TENURE
11.3 yrs

Peter van Bommel

TITLE
CFO & Member of the Management Board
COMPENSATION
€1M
AGE
61
TENURE
8.8 yrs

Bruce Ragsdale

TITLE
Vice President of Global Operations
TENURE
3.4 yrs

Ivo Raaijmakers

TITLE
CTO and Corporate VP R&D
AGE
61
TENURE
19.9 yrs

Victor Bareño

TITLE
Director of Investor Relations

Han Westendorp

TITLE
Vice President of Corporate Marketing
AGE
62
TENURE
3.4 yrs

YK Kim

TITLE
Vice President of Global Sales & Service
TENURE
3.3 yrs

Ralph Otte

TITLE
Corporate Vice President of Global Human Resources
Board of Directors Tenure

Average tenure and age of the ASM International board of directors in years:

5.9
Average Tenure
60
Average Age
  • The tenure for the ASM International board of directors is about average.
Board of Directors

Jan Lobbezoo

TITLE
Chairman of the Supervisory Board
AGE
72
TENURE
5.9 yrs

Martin C. van Pernis

TITLE
Member of Supervisory Board
AGE
73
TENURE
9.1 yrs

Stefanie Kahle-Galonske

TITLE
Member of Supervisory Board
AGE
49
TENURE
2.1 yrs

Ulrich H. Schumacher

TITLE
Member of Supervisory Board
AGE
60
TENURE
11.1 yrs

Marc de Jong

TITLE
Member of Supervisory Board
AGE
57
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by ASM International individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
23. Apr 19 Sell Charles del Prado Individual 23. Apr 19 23. Apr 19 -4,020 €54.13 €-217,603
23. Apr 19 Buy Charles del Prado Individual 23. Apr 19 23. Apr 19 7,752 €54.13 €419,616
23. Apr 19 Sell Petrus Antonius van Bommel Individual 23. Apr 19 23. Apr 19 -2,027 €54.13 €-109,722
23. Apr 19 Buy Petrus Antonius van Bommel Individual 23. Apr 19 23. Apr 19 3,908 €54.13 €211,540
03. Dec 18 Sell Charles del Prado Individual 03. Dec 18 03. Dec 18 -70,589 €39.44 €-2,784,030
03. Dec 18 Buy Charles del Prado Individual 03. Dec 18 03. Dec 18 96,328 €39.44 €3,799,176
04. Dec 18 Sell Petrus Antonius van Bommel Individual 04. Dec 18 04. Dec 18 -50,353 €38.19 €-1,922,981
04. Dec 18 Buy Petrus Antonius van Bommel Individual 04. Dec 18 04. Dec 18 68,071 €38.19 €2,599,632
X
Management checks
We assess ASM International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. ASM International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ASM News

Simply Wall St News

Here's What ASM International NV's (AMS:ASM) P/E Ratio Is Telling Us

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for ASM International: P/E of 14.67 = €55.04 ÷ €3.75 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that buyers have to pay a higher price for each €1 the company has earned over the last year. … In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth.

Simply Wall St -

How Good Is ASM International NV (AMS:ASM), When It Comes To ROE?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for ASM International: 11% = €192m ÷ €1.7b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining ASM International's Debt And Its 11% Return On Equity Although ASM International does use a little debt, its debt to equity ratio of just 0.015 is very low. … If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

Simply Wall St -

Are ASM International NV’s (AMS:ASM) Returns Worth Your While?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for ASM International: 0.086 = €150m ÷ (€1.9b - €199m) (Based on the trailing twelve months to March 2019.) So, ASM International has an ROCE of 8.6%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Why ASM International NV (AMS:ASM) Is A Star In A Falling Market

Check out our latest analysis for ASM International ASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices. … This is the beginning of your research, but before you decide to buy ASM, I highly urge you to understand more about the company, in particular, in these following areas: Future Outlook: What are well-informed industry analysts predicting for ASM’s future growth? … Take a look at our free research report of analyst consensus for ASM’s outlook.

Simply Wall St -

ASM International NV (AMS:ASM): What Does Its Beta Value Mean For Your Portfolio?

If you're interested in ASM International NV (AMS:ASM), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Who Has Been Buying ASM International NV (AMS:ASM) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in ASM International NV (AMS:ASM). … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company.

Simply Wall St -

Do Investors Have Good Reason To Be Wary Of ASM International NV's (AMS:ASM) 1.8% Dividend Yield?

Is ASM International NV (AMS:ASM) a good dividend stock? … With a 1.8% yield and a eight-year payment history, investors probably think ASM International looks like a reliable dividend stock. … The recent jump in the share price will make ASM International's dividend yield look smaller, even though the company prospects could be improving.

Simply Wall St -

How Should Investors Feel About ASM International NV's (AMS:ASM) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Chuck del Prado's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that ASM International NV has a market cap of €2.6b, and is paying total annual CEO compensation of €2.3m.

Simply Wall St -

Is ASM International NV (AMS:ASM) Potentially Undervalued?

led the ENXTAM gainers with a relatively large price hike in the past couple of weeks. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on ASM International’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

What Are Analysts Saying About The Future Of ASM International NV's (AMS:ASM)?

On 31 December 2018, ASM International NV (AMS:ASM) released its earnings update. … with earnings expected to grow by 8.2% in the upcoming year … the higher past 5-year average growth rate of 18%.

Simply Wall St -

ASM Company Info

Description

ASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices. The company operates through two segments, Front-end and Back-end. The Front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices in Europe, the United States, Japan, South Korea, and Southeast Asia. The Back-end segment manufactures and sells equipment and materials that are used in the assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and assembled, packaged, and tested in Hong Kong, the People’s Republic of China, Singapore, Malaysia, and Germany. The company’s product platforms include Advance, a batch vertical furnace tool, which is used for smaller wafer sizes; XP Platform, a single wafer product platform that enables high-volume multi-chamber parallel processing or integration of sequential process steps on one platform; XP8 Platform, which provides productivity with up to eight chambers integrated on a single wafer platform; and Epsilon, a single wafer and chamber tool that deposits silicon-based materials for various applications, such as high-temperature silicon, low-temperature silicon, silicon-germanium, silicon-carbon, and other silicon-based compounds. It serves manufacturers of semiconductor devices and integrated circuits. The company was formerly known as Advanced Semiconductor Materials International NV. ASM International NV was founded in 1968 and is headquartered in Almere, the Netherlands.

Details
Name: ASM International NV
ASM
Exchange: ENXTAM
Founded: 1968
€2,711,506,560
49,336,000
Website: http://www.asm.com
Address: ASM International NV
Versterkerstraat 8,
Almere,
Flevoland, 1322 AP,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM ASM Common Shares Euronext Amsterdam NL EUR 13. Dec 1996
DB AVS Common Shares Deutsche Boerse AG DE EUR 13. Dec 1996
LSE 0NX3 Common Shares London Stock Exchange GB EUR 13. Dec 1996
BATS-CHIXE ASMA Common Shares BATS 'Chi-X Europe' GB EUR 13. Dec 1996
OTCPK ASMI.Y NY REGISTRY SHARES Pink Sheets LLC US USD 12. May 1981
BST AVSN NY REGISTRY SHARES Boerse-Stuttgart DE EUR 12. May 1981
Number of employees
Current staff
Staff numbers
2,181
ASM International employees.
Industry
Semiconductor Equipment
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 20:44
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/18
Last earnings filing: 2019/04/24
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.