BE Semiconductor Industries
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BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries worldwide. The last earnings update was 59 days ago. More info.
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- BE Semiconductor Industries has significant price volatility in the past 3 months.
BESI Share Price and Events
7 Day Returns
1 Year Returns
BESI Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| BE Semiconductor Industries (BESI) | 3.9% | 0.1% | -10.8% | -10.7% | 81.8% | 224.3% |
| Europe Semiconductor | 3.8% | 2.2% | 2.6% | -14.7% | 74.8% | 85.3% |
| NL Market | 1.5% | 2.1% | 3.7% | 0.3% | 30.9% | 26.3% |
1 Year Return vs Industry and Market
- BESI outperformed the Semiconductor industry which returned -14.7% over the past year.
- BESI underperformed the Market in Netherlands which returned 0.3% over the past year.
BESI Value
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
BE Semiconductor Industries
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for BE Semiconductor Industries.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.9% |
| 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.
| 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))
= 1.228 (1 + (1- 25%) (18.91%)) |
1.269 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.27 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.37% + (1.269 * 5.96%) |
7.94% |
Discounted Cash Flow Calculation for ENXTAM:BESI using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for BE Semiconductor Industries 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.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 7.94%) |
|
|---|---|---|---|
| 2019 | 92.63 | Analyst x3 | 85.82 |
| 2020 | 98.93 | Analyst x3 | 84.92 |
| 2021 | 122.50 | Analyst x2 | 97.42 |
| 2022 | 114.56 | Est @ -6.48% | 84.40 |
| 2023 | 109.48 | Est @ -4.43% | 74.74 |
| 2024 | 106.21 | Est @ -2.99% | 67.17 |
| 2025 | 104.11 | Est @ -1.98% | 61.00 |
| 2026 | 102.78 | Est @ -1.28% | 55.80 |
| 2027 | 101.97 | Est @ -0.78% | 51.29 |
| 2028 | 101.53 | Est @ -0.44% | 47.31 |
| Present value of next 10 years cash flows | €709.87 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €101.53 × (1 + 0.37%) ÷ (7.94% – 0.37%) |
€1,347.02 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €1,347.02 ÷ (1 + 7.94%)10 |
€627.69 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €709.87 + €627.69 |
€1,337.56 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €1,337.56 / 72.50 |
€18.45 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €18.45 |
| Current discount | Discount to share price of
€20.99
= -1 x (€20.99 - €18.45) / €18.45 |
-13.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of BE Semiconductor Industries is above its future cash flow value.
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 BE Semiconductor Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
BE Semiconductor Industries's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in EUR | €1.47 |
| ENXTAM:BESI Share Price ** | ENXTAM (2019-06-24) in EUR | €20.99 |
| Europe Semiconductor Industry PE Ratio | Median Figure of 27 Publicly-Listed Semiconductor Companies | 22.77x |
| Netherlands Market PE Ratio | Median Figure of 82 Publicly-Listed Companies | 17.23x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of BE Semiconductor Industries.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTAM:BESI Share Price ÷ EPS (both in EUR) = 20.99 ÷ 1.47 |
14.32x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BE Semiconductor Industries is good value based on earnings compared to the Europe Semiconductor industry average.
- BE Semiconductor Industries is good value based on earnings compared to the Netherlands market.
Price based on expected Growth
Does
BE Semiconductor Industries's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.32x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
20.8%per year |
| Europe Semiconductor Industry PEG Ratio | Median Figure of 20 Publicly-Listed Semiconductor Companies | 1.32x |
| Netherlands Market PEG Ratio | Median Figure of 66 Publicly-Listed Companies | 1.44x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 14.32x ÷ 20.8% |
0.69x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BE Semiconductor Industries is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
BE Semiconductor Industries's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in EUR | €5.12 |
| ENXTAM:BESI Share Price * | ENXTAM (2019-06-24) in EUR | €20.99 |
| Europe Semiconductor Industry PB Ratio | Median Figure of 39 Publicly-Listed Semiconductor Companies | 1.82x |
| Netherlands Market PB Ratio | Median Figure of 104 Publicly-Listed Companies | 1.91x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTAM:BESI Share Price ÷ Book Value per Share (both in EUR) = 20.99 ÷ 5.12 |
4.1x |
* Primary Listing of BE Semiconductor Industries.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BE Semiconductor Industries is overvalued based on assets compared to the Europe Semiconductor industry average.
Value checks
We assess BE Semiconductor Industries's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check) BE Semiconductor Industries 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.
BESI Future Performance
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!
Earnings growth vs Low Risk Savings
- BE Semiconductor Industries's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
- BE Semiconductor Industries's earnings growth is expected to exceed the Netherlands market average.
- BE Semiconductor Industries's revenue growth is expected to exceed the Netherlands market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTAM:BESI Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 20.8% |
| ENXTAM:BESI Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 12.7% |
| Europe Semiconductor Industry Earnings Growth Rate | Market Cap Weighted Average | 23.1% |
| Europe Semiconductor Industry Revenue Growth Rate | Market Cap Weighted Average | 8% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 686 | 199 | 1 | |
| 2022-12-31 | 624 | 174 | 1 | |
| 2021-12-31 | 532 | 134 | 144 | 4 |
| 2020-12-31 | 485 | 107 | 120 | 5 |
| 2019-12-31 | 379 | 101 | 72 | 5 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 452 | 177 | 109 |
| 2018-12-31 | 525 | 184 | 136 |
| 2018-09-30 | 586 | 205 | 157 |
| 2018-06-30 | 629 | 182 | 181 |
| 2018-03-31 | 637 | 205 | 186 |
| 2017-12-31 | 593 | 168 | 173 |
| 2017-09-30 | 533 | 124 | 146 |
| 2017-06-30 | 468 | 112 | 110 |
| 2017-03-31 | 407 | 97 | 81 |
| 2016-12-31 | 375 | 99 | 65 |
| 2016-09-30 | 360 | 98 | 58 |
| 2016-06-30 | 338 | 88 | 48 |
*GAAP earnings excluding extraordinary items.
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 5 Analyst Estimates (S&P Global) | See Below |
All data from BE Semiconductor Industries Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 2.37 | 2.37 | 2.37 | 1.00 |
| 2021-12-31 | 1.89 | 2.11 | 1.51 | 4.00 |
| 2020-12-31 | 1.56 | 1.80 | 1.25 | 5.00 |
| 2019-12-31 | 0.93 | 1.40 | 0.68 | 5.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2019-03-31 | 1.47 |
| 2018-12-31 | 1.83 |
| 2018-09-30 | 2.10 |
| 2018-06-30 | 2.42 |
| 2018-03-31 | 2.49 |
| 2017-12-31 | 2.32 |
| 2017-09-30 | 1.96 |
| 2017-06-30 | 1.47 |
| 2017-03-31 | 1.09 |
| 2016-12-31 | 0.87 |
| 2016-09-30 | 0.77 |
| 2016-06-30 | 0.63 |
*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.
- BE Semiconductor Industries is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
Future performance checks
We assess BE Semiconductor Industries's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
BE Semiconductor Industries has a total score of 5/6, 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.
BESI Past Performance
How has BE Semiconductor Industries 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
Past Earnings growth analysis
- BE Semiconductor Industries has delivered over 20% year on year earnings growth in the past 5 years.
- BE Semiconductor Industries's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- BE Semiconductor Industries's 1-year earnings growth is negative, it can't be compared to the Europe Semiconductor industry average.
Earnings and Revenue History
All data from BE Semiconductor Industries Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 451.72 | 108.64 | 81.75 | 34.68 |
| 2018-12-31 | 525.26 | 136.26 | 89.31 | 35.45 |
| 2018-09-30 | 585.99 | 156.94 | 96.44 | 37.09 |
| 2018-06-30 | 628.61 | 180.74 | 97.63 | 37.70 |
| 2018-03-31 | 637.48 | 185.79 | 100.34 | 37.36 |
| 2017-12-31 | 592.79 | 172.99 | 93.31 | 35.88 |
| 2017-09-30 | 532.62 | 146.23 | 89.61 | 35.04 |
| 2017-06-30 | 467.61 | 109.82 | 87.36 | 34.59 |
| 2017-03-31 | 406.66 | 81.49 | 81.84 | 35.41 |
| 2016-12-31 | 375.38 | 65.22 | 79.81 | 35.82 |
| 2016-09-30 | 360.13 | 58.27 | 76.20 | 36.23 |
| 2016-06-30 | 337.96 | 47.88 | 76.82 | 39.36 |
| 2016-03-31 | 333.22 | 39.46 | 76.47 | 39.28 |
| 2015-12-31 | 349.21 | 48.98 | 74.69 | 40.46 |
| 2015-09-30 | 360.42 | 58.76 | 74.84 | 38.64 |
| 2015-06-30 | 391.80 | 74.11 | 70.36 | 33.72 |
| 2015-03-31 | 403.75 | 81.39 | 68.50 | 31.36 |
| 2014-12-31 | 378.80 | 70.88 | 65.37 | 27.50 |
| 2014-09-30 | 342.81 | 52.72 | 60.93 | 25.44 |
| 2014-06-30 | 304.70 | 35.63 | 59.63 | 24.06 |
| 2014-03-31 | 260.90 | 19.28 | 56.18 | 23.88 |
| 2013-12-31 | 254.94 | 16.02 | 55.02 | 24.55 |
| 2013-09-30 | 258.20 | 15.72 | 54.60 | 26.04 |
| 2013-06-30 | 267.38 | 15.67 | 58.43 | 27.15 |
| 2013-03-31 | 281.96 | 19.14 | 58.57 | 27.25 |
| 2012-12-31 | 273.72 | 15.59 | 59.34 | 26.85 |
| 2012-09-30 | 287.81 | 17.77 | 62.36 | 26.77 |
| 2012-06-30 | 288.77 | 18.02 | 63.18 | 27.05 |
*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.
- BE Semiconductor Industries has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- BE Semiconductor Industries used its assets more efficiently than the Europe Semiconductor industry average last year based on Return on Assets.
- BE Semiconductor Industries has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess BE Semiconductor Industries's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
BE Semiconductor Industries has a total score of 4/6, 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.
BESI Health
How is BE Semiconductor Industries'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 BE Semiconductor Industries's finances.
The net worth of a company is the difference between its assets and liabilities.
- BE Semiconductor Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- BE Semiconductor Industries's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 2.2x debt.
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.
All data from BE Semiconductor Industries Company Filings, last reported 2 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 374.82 | 277.81 | 457.50 |
| 2018-12-31 | 372.19 | 276.14 | 425.76 |
| 2018-09-30 | 364.25 | 283.43 | 443.49 |
| 2018-06-30 | 342.92 | 285.21 | 395.46 |
| 2018-03-31 | 472.33 | 280.93 | 570.98 |
| 2017-12-31 | 434.13 | 280.24 | 527.97 |
| 2017-09-30 | 383.72 | 131.96 | 297.36 |
| 2017-06-30 | 343.75 | 131.53 | 263.06 |
| 2017-03-31 | 366.04 | 133.34 | 309.02 |
| 2016-12-31 | 345.04 | 136.70 | 305.00 |
| 2016-09-30 | 322.18 | 21.36 | 153.26 |
| 2016-06-30 | 312.46 | 21.35 | 132.08 |
| 2016-03-31 | 338.69 | 21.35 | 169.76 |
| 2015-12-31 | 332.22 | 21.35 | 158.02 |
| 2015-09-30 | 324.04 | 23.80 | 132.83 |
| 2015-06-30 | 326.87 | 22.32 | 113.69 |
| 2015-03-31 | 367.30 | 28.47 | 161.56 |
| 2014-12-31 | 328.82 | 17.36 | 136.29 |
| 2014-09-30 | 312.91 | 19.33 | 105.38 |
| 2014-06-30 | 286.70 | 21.30 | 83.79 |
| 2014-03-31 | 272.23 | 19.14 | 91.93 |
| 2013-12-31 | 264.16 | 18.63 | 89.59 |
| 2013-09-30 | 262.52 | 22.50 | 78.49 |
| 2013-06-30 | 260.28 | 24.90 | 81.14 |
| 2013-03-31 | 267.47 | 27.66 | 91.89 |
| 2012-12-31 | 264.95 | 26.85 | 107.41 |
| 2012-09-30 | 267.42 | 30.61 | 89.78 |
| 2012-06-30 | 262.64 | 27.90 | 77.27 |
- BE Semiconductor Industries's level of debt (74.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (7% vs 74.1% today).
- Debt is well covered by operating cash flow (63.7%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 14.5x coverage).
Financial health checks
We assess BE Semiconductor Industries's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) BE Semiconductor Industries has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
BESI Dividends
What is BE Semiconductor Industries'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
If you bought
€2,000 of
BE Semiconductor Industries
shares you are expected to receive
€159
in your first year as a dividend.
Dividend Amount
- BE Semiconductor Industries's pays a higher dividend yield than the bottom 25% of dividend payers in Netherlands (2.3%).
- BE Semiconductor Industries's dividend is above the markets top 25% of dividend payers in Netherlands (5.78%).
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.
| 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 5 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 | 2.3% |
| Netherlands Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 2.40 | 1.00 |
| 2022-12-31 | 1.87 | 1.00 |
| 2021-12-31 | 1.85 | 4.00 |
| 2020-12-31 | 1.39 | 5.00 |
| 2019-12-31 | 0.86 | 5.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-20 | 1.670 | 7.244 |
| 2018-04-26 | 2.320 | 11.248 |
| 2017-05-02 | 0.870 | 2.821 |
| 2016-03-21 | 0.500 | 3.419 |
| 2016-02-25 | 0.500 | 4.398 |
| 2015-02-26 | 0.750 | 7.365 |
| 2014-04-30 | 0.165 | 2.316 |
| 2013-04-24 | 0.110 | 2.566 |
| 2012-07-27 | 0.110 | 3.755 |
| 2012-07-26 | 0.110 | 3.540 |
| 2012-02-29 | 0.110 | 3.863 |
| 2011-05-26 | 0.100 | 3.982 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BE Semiconductor Industries has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but BE Semiconductor Industries only paid a dividend in the past 8 years.
Income/ dividend checks
We assess BE Semiconductor Industries's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can BE Semiconductor Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) BE Semiconductor Industries 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.
BESI Management
CEO
| COMPENSATION | €6,808,460 |
| AGE | 64 |
| TENURE AS CEO | 23.6 years |
CEO Bio
Mr. Richard W. Blickman has been the Chairman of Management Board and Chief Executive Officer at BE Semiconductor Industries N.V., since November 1995 and served as its President since November 1995 until April 2018. Mr. Blickman served as the Head of Marketing Sales & Customer Support at BE Semiconductor Industries N.V. He served as the Managing Director of BE Semiconductor Industries N.V.'s Fico subsidiary, a position he has held since February 1991 and Managing Director of its Meco subsidiary, a position he has held since January 1996. He served as the Managing Director and a Management Board member of BE Semiconductor Industries N.V.'s PBE joint venture. He held the position of Worldwide Sales Manager of Fico from September 1989 to February 1991. Prior to joining Fico, Mr. Blickman served as the European Marketing and Sales Manager for Advanced Semiconductor Materials International N.V.
CEO Compensation
- Richard's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
- Richard's remuneration is higher than average for companies of similar size in Netherlands.
Management Team Tenure
Average tenure and age of the BE Semiconductor Industries management team in years:
- The tenure for the BE Semiconductor Industries management team is about average.
Management Team
Richard Blickman
Chairman of Management Board & CEO
€7M
64
23.6 yrs
J. te Hennepe
Senior Vice President of Finance
60
Henk-Jan Poerink
Senior Vice President of Global Operations
48
Ruurd Boomsma
Chief Technology Officer of Besi
62
5.4 yrs
René Hendriks
Senior Vice President of Sales - North America & Europe
57
Hans Wunderl
Senior Vice President of Strategic Development
67
J. Park
Senior Vice President of Sales & Customer Support - APAC
53
Jeroen Kleijburg
Senior Vice President of Packaging
44
Christoph Scheiring
Senior Vice President of Die Attach
48
1.2 yrs
René Betschart
Senior Vice President of Besi Products for Asia
45
1.2 yrs
Board of Directors Tenure
Average tenure and age of the BE Semiconductor Industries board of directors in years:
- The average tenure for the BE Semiconductor Industries board of directors is less than 3 years, this suggests a new board.
Board of Directors
Lodewijk van den Bergh
Chairman of the Supervisory Board
55
0.4 yrs
Doug Dunn
Vice Chairman of Supervisory Board
74
Niek Hoek
Member of Supervisory Board
62
1.2 yrs
Mona ElNaggar
Member of Supervisory Board
51
7.2 yrs
Carlo Bozotti
Member of Supervisory Board
66
0.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 21. Feb 19 | Sell | Richard Blickman | Individual | 21. Feb 19 | 21. Feb 19 | -100,000 | €22.46 | €-2,246,000 | ||
Management checks
We assess BE Semiconductor Industries's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) BE Semiconductor Industries 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.
BESI News
Simply Wall St News
Here's What BE Semiconductor Industries N.V.'s (AMS:BESI) ROCE Can Tell Us
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 BE Semiconductor Industries: 0.20 = €140m ÷ (€795m - €109m) (Based on the trailing twelve months to March 2019.) So, BE Semiconductor Industries has an ROCE of 20%. … 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. … The Bottom Line On BE Semiconductor Industries's ROCE Low current liabilities and high ROCE is a good combination, making BE Semiconductor Industries look quite interesting.
Simply Wall St - – Full articleHave Investors Priced In BE Semiconductor Industries N.V.'s (AMS:BESI) Growth?
(AMS:BESI) is considered a high-growth stock, but its last closing price of €20.81 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … BE Semiconductor Industries is poised for significantly high earnings growth in the near future. … But, seeing as BE Semiconductor Industries is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio.
Simply Wall St - – Full articleDoes The Data Make BE Semiconductor Industries N.V. (AMS:BESI) An Attractive Investment?
In the case of BESI, it is a financially-healthy company with a strong history and a excellent future outlook. … Proven track record with reasonable growth potential BESI has a strong track record of performance. … In the previous year, BESI delivered an impressive double-digit return of 29% Not surprisingly, BESI outperformed its industry which returned 11%, giving us more conviction of the company's capacity to drive bottom-line growth going forward.
Simply Wall St - – Full articleDoes The BE Semiconductor Industries N.V. (AMS:BESI) Share Price Fall With The Market?
(AMS:BESI), 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. … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market. … What this means for you: Since BE Semiconductor Industries has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.
Simply Wall St - – Full articleDoes BE Semiconductor Industries N.V.'s (AMS:BESI) P/E Ratio Signal A Buying Opportunity?
The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for BE Semiconductor Industries: P/E of 15.82 = €23.19 ÷ €1.47 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … BE Semiconductor Industries's earnings per share fell by 41% in the last twelve months. … ENXTAM:BESI Price Estimation Relative to Market, May 16th 2019 Its relatively low P/E ratio indicates that BE Semiconductor Industries shareholders think it will struggle to do as well as other companies in its industry classification.
Simply Wall St - – Full articleCalculating The Fair Value Of BE Semiconductor Industries N.V. (AMS:BESI)
by taking the expected future cash flows and discounting them to today's value. … I will be using the Discounted Cash Flow (DCF) model. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleThe BE Semiconductor Industries (AMS:BESI) Share Price Has Soared 329%, Delighting Many Shareholders
(AMS:BESI) share price has soared 329% over five years. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Over half a decade, BE Semiconductor Industries managed to grow its earnings per share at 41% a year.
Simply Wall St - – Full articleIs BE Semiconductor Industries N.V. (AMS:BESI) Potentially Undervalued?
(AMS:BESI), which is in the semiconductor business, and is based in Netherlands,. … saw a significant share price rise of over 20% in the past couple of months on the ENXTAM. … 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?
Simply Wall St - – Full articleA Closer Look At BE Semiconductor Industries N.V.'s (AMS:BESI) Impressive ROE
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.37 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleRead This Before Buying BE Semiconductor Industries N.V. (AMS:BESI) Shares
But logic dictates you should pay some attention to whether insiders are buying or selling shares. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … That means that an insider was selling shares at slightly below the current price (€23.61).
Simply Wall St - – Full articleBESI Company Info
Description
BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries worldwide. The company’s principal products include die attach equipment, such as single chips, multi chips, multi modules, flip chips, TCB and eWLB die bonding systems, and die sorting systems; and packaging equipment comprising conventional, ultra thin, and wafer level molding, as well as trim and form, and singulation systems. Its principal products also comprise plating equipment consisting of tin, copper, and precious metal plating systems, as well as related process chemicals; and tooling, conversion kits, spare parts, and other services. The company provides its products primarily to chip manufacturers, assembly subcontractors, and electronics and industrial companies. BE Semiconductor Industries N.V. was founded in 1995 and is headquartered in Duiven, the Netherlands.
Details
| Name: | BE Semiconductor Industries N.V. |
| BESI | |
| Exchange: | ENXTAM |
| Founded: | 1995 |
| €1,521,790,154 | |
| 72,500,722 | |
| Website: | http://www.besi.com |
| Address: |
BE Semiconductor Industries N.V. Ratio 6, Duiven, Gelderland, 6921 RW, Netherlands |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTAM | BESI | Ordinary Shares | Euronext Amsterdam | NL | EUR | 08. Dec 1995 | |
| OTCPK | BESV.F | Ordinary Shares | Pink Sheets LLC | US | USD | 08. Dec 1995 | |
| DB | BSI | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 08. Dec 1995 | |
| LSE | 0XVE | Ordinary Shares | London Stock Exchange | GB | EUR | 08. Dec 1995 | |
| BATS-CHIXE | BESIA | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 08. Dec 1995 | |
| OTCPK | BESI.Y | NY REGSTRY SHS | Pink Sheets LLC | US | USD | 05. Dec 1995 | |
| DB | BSI | EUR0.01 | Deutsche Boerse AG | DE | EUR | 02. May 2018 | |
| ENXTAM | BESI | EUR0.01 | Euronext Amsterdam | NL | EUR | 02. May 2018 |
Number of employees
Current staff
Industry
| Semiconductor Equipment | |
| Semiconductors |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/24 20:43 |
| End of day share price update: | 2019/06/24 00:00 |
| Last estimates confirmation: | 2019/06/18 |
| Last earnings filing: | 2019/04/26 |
| 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.
