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BE Semiconductor Industries

ENXTAM:BESI
Snowflake Description

High growth potential with proven track record.

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

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
3.9%
ENXTAM:BESI
3.8%
Europe Semiconductor
1.5%
NL Market
1 Year Returns
-10.7%
ENXTAM:BESI
-14.7%
Europe Semiconductor
0.3%
NL Market
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.
Price Volatility
BESI
Industry
5yr Volatility vs Market

BESI Value

 Is BE Semiconductor Industries 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 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BE Semiconductor Industries.

ENXTAM:BESI Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for ENXTAM:BESI
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.

ENXTAM:BESI DCF 1st Stage: Next 10 year cash flow forecast
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
ENXTAM:BESI DCF 2nd Stage: Terminal Value
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
ENXTAM:BESI Total Equity Value
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
ENXTAM:BESI Discount to Share Price
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.
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 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?
Raw Data
ENXTAM:BESI PE (Price to Earnings) Ratio Data Sources
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.

ENXTAM:BESI PE (Price to Earnings) Ratio Calculation
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?
Raw Data
ENXTAM:BESI PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

ENXTAM:BESI PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
ENXTAM:BESI PB (Price to Book) Ratio Data Sources
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
ENXTAM:BESI PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess BE Semiconductor Industries'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. 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

 How is BE Semiconductor Industries expected to perform in the next 1 to 3 years based on estimates from 5 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
20.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BE Semiconductor Industries expected to grow at an attractive rate?
  • 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
Raw Data
ENXTAM:BESI Future Growth Rates Data Sources
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
Raw Data
ENXTAM:BESI Analysts Growth Expectations Data Sources
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 numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTAM:BESI Future Estimates Data
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
ENXTAM:BESI Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • BE Semiconductor Industries's earnings are expected to grow significantly at over 20% yearly.
  • BE Semiconductor Industries's revenue is expected to grow by 12.7% 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:BESI 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.

ENXTAM:BESI Future Estimates Data
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
ENXTAM:BESI Past Financials Data
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%).
X
Future performance checks
We assess BE Semiconductor Industries'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.
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
Below we compare BE Semiconductor Industries'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.
  • 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
BE Semiconductor Industries'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 BE Semiconductor Industries Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:BESI Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 451.72 108.64 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).
X
Past performance checks
We assess BE Semiconductor Industries'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.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of BE Semiconductor Industries'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.
  • 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.
Raw Data

All data from BE Semiconductor Industries Company Filings, last reported 2 months ago.

ENXTAM:BESI Past Debt and Equity Data
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).
X
Financial health checks
We assess BE Semiconductor Industries'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. BE Semiconductor Industries has a total score of 4/6, 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.

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
Dividend payments
7.96%
Current annual income from BE Semiconductor Industries dividends. Estimated to be 6.84% next year.
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
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?
  • 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.
Raw Data
ENXTAM:BESI 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 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.

ENXTAM:BESI Future Dividends Estimate Data
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
ENXTAM:BESI Past Annualized Dividends Data
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.
Current Payout to shareholders
What portion of BE Semiconductor Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess BE Semiconductor Industries'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 BE Semiconductor Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

 What is the CEO of BE Semiconductor Industries'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
Richard Blickman
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:

3.3
Average Tenure
55
Average Age
  • The tenure for the BE Semiconductor Industries management team is about average.
Management Team

Richard Blickman

TITLE
Chairman of Management Board & CEO
COMPENSATION
€7M
AGE
64
TENURE
23.6 yrs

J. te Hennepe

TITLE
Senior Vice President of Finance
AGE
60

Henk-Jan Poerink

TITLE
Senior Vice President of Global Operations
AGE
48

Ruurd Boomsma

TITLE
Chief Technology Officer of Besi
AGE
62
TENURE
5.4 yrs

René Hendriks

TITLE
Senior Vice President of Sales - North America & Europe
AGE
57

Hans Wunderl

TITLE
Senior Vice President of Strategic Development
AGE
67

J. Park

TITLE
Senior Vice President of Sales & Customer Support - APAC
AGE
53

Jeroen Kleijburg

TITLE
Senior Vice President of Packaging
AGE
44

Christoph Scheiring

TITLE
Senior Vice President of Die Attach
AGE
48
TENURE
1.2 yrs

René Betschart

TITLE
Senior Vice President of Besi Products for Asia
AGE
45
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the BE Semiconductor Industries board of directors in years:

1
Average Tenure
62
Average Age
  • 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

TITLE
Chairman of the Supervisory Board
AGE
55
TENURE
0.4 yrs

Doug Dunn

TITLE
Vice Chairman of Supervisory Board
AGE
74

Niek Hoek

TITLE
Member of Supervisory Board
AGE
62
TENURE
1.2 yrs

Mona ElNaggar

TITLE
Member of Supervisory Board
AGE
51
TENURE
7.2 yrs

Carlo Bozotti

TITLE
Member of Supervisory Board
AGE
66
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
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
X
Management checks
We assess BE Semiconductor Industries'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. 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 -

Have 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 -

Does 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 -

Does 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 -

Does 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 -

Calculating 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 -

The 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 -

Is 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 -

A 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 -

Read 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 -

BESI 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
Staff numbers
1,626
BE Semiconductor Industries employees.
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.