BE Semiconductor Industries
Market Cap
€1.9b
Last Updated
2020/03/30 20:49 UTC
Data Sources
Company Financials +
Executive Summary
BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries worldwide.
Rewards
Risk Analysis
Dividend of 3.76% is not well covered by earnings or forecast to be in the next 3 years
Snowflake Analysis
High growth potential with adequate balance sheet.
Similar Companies
Share Price & News
How has BE Semiconductor Industries's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BESI's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
18.0%
BESI
15.5%
NL Semiconductor
9.6%
NL Market
1 Year Return
11.9%
BESI
21.1%
NL Semiconductor
-22.7%
NL Market
Return vs Industry: BESI underperformed the Dutch Semiconductor industry which returned 18.8% over the past year.
Return vs Market: BESI exceeded the Dutch Market which returned -24% over the past year.
Shareholder returns
| BESI | Industry | Market | |
|---|---|---|---|
| 7 Day | 18.0% | 15.5% | 9.6% |
| 30 Day | -23.4% | -10.9% | -14.1% |
| 90 Day | -22.0% | -16.2% | -23.7% |
| 1 Year | 19.2%11.9% | 23.7%21.1% | -19.5%-22.7% |
| 3 Year | 65.3%38.5% | 45.9%38.6% | -3.6%-14.1% |
| 5 Year | 137.6%78.8% | 101.7%85.1% | 10.0%-11.2% |
Price Volatility Vs. Market
How volatile is BE Semiconductor Industries's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Downgrade: Here's How Analysts See BE Semiconductor Industries N.V. (AMS:BESI) Performing In The Near Term6 days ago | Simply Wall St
Zooming in on AMS:BESI's 3.9% Dividend Yield2 weeks ago | Simply Wall St
How Does BE Semiconductor Industries's (AMS:BESI) P/E Compare To Its Industry, After The Share Price Drop?Valuation
Is BE Semiconductor Industries undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BESI (€26.87) is trading below our estimate of fair value (€56.32)
Significantly Below Fair Value: BESI is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BESI is poor value based on its PE Ratio (24.1x) compared to the Semiconductor industry average (23x).
PE vs Market: BESI is poor value based on its PE Ratio (24.1x) compared to the Dutch market (14.6x).
Price to Earnings Growth Ratio
PEG Ratio: BESI is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: BESI is overvalued based on its PB Ratio (6.5x) compared to the XE Semiconductor industry average (1.9x).
Next Steps
Future Growth
How is BE Semiconductor Industries forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
20.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BESI's forecast earnings growth (20.8% per year) is above the savings rate (-0.2%).
Earnings vs Market: BESI's earnings (20.8% per year) are forecast to grow faster than the Dutch market (13.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BESI's revenue (16.3% per year) is forecast to grow faster than the Dutch market (5.3% per year).
High Growth Revenue: BESI's revenue (16.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BESI's Return on Equity is forecast to be very high in 3 years time (40.1%).
Next Steps
Past Performance
How has BE Semiconductor Industries performed over the past 5 years?
14.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BESI has high quality earnings.
Growing Profit Margin: BESI's current net profit margins (22.8%) are lower than last year (25.9%).
Past Earnings Growth Analysis
Earnings Trend: BESI's earnings have grown by 14.4% per year over the past 5 years.
Accelerating Growth: BESI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BESI had negative earnings growth (-40.3%) over the past year, making it difficult to compare to the Semiconductor industry average (-30.8%).
Return on Equity
High ROE: BESI's Return on Equity (27.2%) is considered high.
Next Steps
Financial Health
How is BE Semiconductor Industries's financial position?
Financial Position Analysis
Short Term Liabilities: BESI's short term assets (€550.3M) exceed its short term liabilities (€86.6M).
Long Term Liabilities: BESI's short term assets (€550.3M) exceed its long term liabilities (€311.7M).
Debt to Equity History and Analysis
Debt Level: BESI's debt to equity ratio (93.1%) is considered high.
Reducing Debt: BESI's debt to equity ratio has increased from 5.3% to 93.1% over the past 5 years.
Debt Coverage: BESI's debt is well covered by operating cash flow (43.2%).
Interest Coverage: BESI's interest payments on its debt are well covered by EBIT (9.2x coverage).
Balance Sheet
Inventory Level: BESI has a low level of unsold assets or inventory.
Debt Coverage by Assets: BESI's debt is covered by short term assets (assets are 2x debt).
Next Steps
Dividend
What is BE Semiconductor Industries's current dividend yield, its reliability and sustainability?
3.76%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: BESI's dividend (3.76%) is higher than the bottom 25% of dividend payers in the Dutch market (2.99%).
High Dividend: BESI's dividend (3.76%) is low compared to the top 25% of dividend payers in the Dutch market (7.71%).
Stability and Growth of Payments
Stable Dividend: BESI has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BESI's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (90.4%), BESI's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BESI's dividends in 3 years are not forecast to be well covered by earnings (94.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.2yrs
Average management tenure
CEO
Richard Blickman (65yo)
24.33s
Tenure
€4,534,603
Compensation
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 ...
CEO Compensation Analysis
Compensation vs Market: Richard's total compensation ($USD5.00M) is above average for companies of similar size in the Dutch market ($USD2.06M).
Compensation vs Earnings: Richard's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of Management Board & CEO | 24.33yrs | €4.53m | 2.28% €44.3m | |
| Senior Vice President of Finance | no data | no data | no data | |
| Senior Vice President of Global Operations | no data | no data | no data | |
| Chief Technology Officer of Besi | 6.17yrs | no data | no data | |
| Senior Vice President of Sales - North America & Europe | no data | no data | no data | |
| Senior Vice President of Strategic Development | no data | no data | no data | |
| Senior Vice President of Sales & Customer Support - APAC | no data | no data | no data | |
| Senior Vice President of Packaging | no data | no data | no data | |
| Senior Vice President of Die Attach | 1.92yrs | no data | no data | |
| Senior Vice President of Finance - Asia & Die Attach | no data | no data | no data |
6.2yrs
Average Tenure
56yo
Average Age
Experienced Management: BESI's management team is seasoned and experienced (6.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Member of Supervisory Board | 1.67yrs | €62.70k | no data | |
| Vice Chairman of Supervisory Board | no data | €66.00k | no data | |
| Member of Supervisory Board | 1.92yrs | €66.00k | no data | |
| Member of Supervisory Board | 7.92yrs | €70.70k | no data | |
| Chairman of the Supervisory Board | 1.17yrs | €53.90k | no data |
1.8yrs
Average Tenure
63yo
Average Age
Experienced Board: BESI's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BESI insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
BE Semiconductor Industries N.V.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: BE Semiconductor Industries N.V.
- Ticker: BESI
- Exchange: ENXTAM
- Founded: 1995
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: €1.940b
- Shares outstanding: 72.21m
- Website: https://www.besi.com
Number of Employees
Location
- BE Semiconductor Industries N.V.
- Ratio 6
- Duiven
- Gelderland
- 6921 RW
- Netherlands
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BESI.Y | OTCPK (Pink Sheets LLC) | NY REGSTRY SHS | US | USD | Dec 1995 | |
| BESI | ENXTAM (Euronext Amsterdam) | Yes | Ordinary Shares | NL | EUR | Dec 1995 |
| 0XVE | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Dec 1995 |
| BSI | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 1995 |
| BESIA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Dec 1995 |
| BESV.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Dec 1995 |
| BSI | DB (Deutsche Boerse AG) | EUR0.01 | DE | EUR | May 2018 | |
| BESI | ENXTAM (Euronext Amsterdam) | EUR0.01 | NL | EUR | May 2018 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/30 20:49 |
| End of Day Share Price | 2020/03/30 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.