ENXTAM:BESI

Stock Analysis Report

BE Semiconductor Industries

Executive Summary

BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries worldwide.

Snowflake

Fundamentals

High growth potential with adequate balance sheet.

Risks

  • BE Semiconductor Industries has significant price volatility in the past 3 months.

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


Market Performance


7 Day Return

1.6%

ENXTAM:BESI

5.3%

NL Semiconductor

1.3%

NL Market


1 Year Return

63.5%

ENXTAM:BESI

23.8%

NL Semiconductor

3.4%

NL Market

BESI outperformed the Semiconductor industry which returned 23.8% over the past year.

BESI outperformed the Market in Netherlands which returned 3.4% over the past year.


Share holder returns

BESIIndustryMarket
7 Day1.6%5.3%1.3%
30 Day12.2%18.0%5.6%
90 Day39.1%30.5%1.9%
1 Year74.1%63.5%25.5%23.8%8.0%3.4%
3 Year142.9%103.5%106.0%98.2%46.8%30.6%
5 Year462.3%323.1%142.7%125.8%54.6%23.3%

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

Valuation

Is BE Semiconductor Industries undervalued based on future cash flows and its price relative to the stock market?

26.39x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

BE Semiconductor Industries's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

BE Semiconductor Industries's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

BE Semiconductor Industries is overvalued based on earnings compared to the Europe Semiconductor industry average.

BE Semiconductor Industries is overvalued based on earnings compared to the Netherlands market.


Price Based on Expected Growth

BE Semiconductor Industries is good value based on expected growth next year.


Price Based on Value of Assets

BE Semiconductor Industries is overvalued based on assets compared to the Europe Semiconductor industry average.


Next Steps

Future Growth

How is BE Semiconductor Industries expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

27.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

BE Semiconductor Industries's revenue is expected to grow by 16.4% yearly, however this is not considered high growth (20% yearly).

BE Semiconductor Industries's earnings are expected to grow significantly at over 20% yearly.

BE Semiconductor Industries's revenue growth is expected to exceed the Netherlands market average.

BE Semiconductor Industries's earnings growth is expected to exceed the Netherlands market average.

BE Semiconductor Industries's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

BE Semiconductor Industries is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).


Next Steps

Past Performance

How has BE Semiconductor Industries performed over the past 5 years?

23.2%

Historical annual earnings growth


Earnings and Revenue History


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.


Return on Equity

Whilst BE Semiconductor Industries has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.


Return on Assets

BE Semiconductor Industries used its assets more efficiently than the Europe Semiconductor industry average last year based on Return on Assets.


Return on Capital Employed

BE Semiconductor Industries has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is BE Semiconductor Industries's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

BE Semiconductor Industries's level of debt (104.3%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (7.2% vs 104.3% today).

Debt is well covered by operating cash flow (61.5%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 14.1x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 1.9x debt.


Next Steps

Dividend

What is BE Semiconductor Industries's current dividend yield, its reliability and sustainability?

4.79%

Expected Dividend Yield


Dividend Yield and Payments Analysis

BE Semiconductor Industries's pays a higher dividend yield than the bottom 25% of dividend payers in Netherlands (2.24%).

BE Semiconductor Industries's dividend is below the markets top 25% of dividend payers in Netherlands (5.83%).

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

Dividends paid are not well covered by earnings (0.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are not well covered by earnings (1.1x coverage).


Next Steps

Management

What is the CEO of BE Semiconductor Industries's salary, the management and board of directors tenure and is there insider trading?

3.5yrs

Average management tenure


CEO

Richard Blickman (65yo)

23.8yrs

Tenure

€6,808,460

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

Richard's remuneration is higher than average for companies of similar size in Netherlands.

Richard's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

3.5yrs

Average Tenure

56yo

Average Age

The tenure for the BE Semiconductor Industries management team is about average.


Board Age and Tenure

1.3yrs

Average Tenure

63yo

Average Age

The average tenure for the BE Semiconductor Industries board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Sell€2,246,00021 Feb 19
Richard Blickman
EntityIndividual
Role
Chief Executive Officer
Chairman of Management Board & CEO
Shares100,000
Max Price€22.46

Ownership Breakdown


Management Team

  • Hans Wunderl (68yo)

    Senior Vice President of Strategic Development

    • Tenure: 0yrs
  • Richard Blickman (65yo)

    Chairman of Management Board & CEO

    • Tenure: 23.8yrs
    • Compensation: €6.81m
  • René Hendriks (58yo)

    Senior Vice President of Sales - North America & Europe

    • Tenure: 0yrs
  • J. te Hennepe (61yo)

    Senior Vice President of Finance

    • Tenure: 0yrs
  • J. Park (54yo)

    Senior Vice President of Sales & Customer Support - APAC

    • Tenure: 0yrs
  • Henk-Jan Poerink (49yo)

    Senior Vice President of Global Operations

    • Tenure: 0yrs
  • Ruurd Boomsma (63yo)

    Chief Technology Officer of Besi

    • Tenure: 5.7yrs
  • Jeroen Kleijburg (45yo)

    Senior Vice President of Packaging

    • Tenure: 0yrs
  • Christoph Scheiring (49yo)

    Senior Vice President of Die Attach

    • Tenure: 1.4yrs
  • René Betschart (46yo)

    Senior Vice President of Besi Products for Asia

    • Tenure: 1.4yrs

Board Members

  • Carlo Bozotti (67yo)

    Member of Supervisory Board

    • Tenure: 1.2yrs
  • Doug Dunn (75yo)

    Vice Chairman of Supervisory Board

    • Tenure: 0yrs
  • Niek Hoek (63yo)

    Member of Supervisory Board

    • Tenure: 1.4yrs
  • Mona ElNaggar (52yo)

    Member of Supervisory Board

    • Tenure: 7.4yrs
  • Lodewijk van den Bergh (56yo)

    Chairman of the Supervisory Board

    • Tenure: 0.7yrs

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: €2.084b
  • Shares outstanding: 72.39m
  • Website: https://www.besi.com

Number of Employees


Location

  • BE Semiconductor Industries N.V.
  • Ratio 6
  • Duiven
  • Gelderland
  • 6921 RW
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BESI.YOTCPK (Pink Sheets LLC)NY REGSTRY SHSUSUSDDec 1995
BESIENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURDec 1995
0XVELSE (London Stock Exchange)YesOrdinary SharesGBEURDec 1995
BSIDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 1995
BESIABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 1995
BESV.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 1995
BSIDB (Deutsche Boerse AG)EUR0.01DEEURMay 2018
BESIENXTAM (Euronext Amsterdam)EUR0.01NLEURMay 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 pr ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/16 20:42
End of Day Share Price2019/09/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.