Equity Brief · Technology2026-10-27
ASM.AS·Technology

Last results 27 Oct 2026

ASM International NV

I · AI Analysis

The brief

ASM International manufactures equipment used in wafer processing — the fabrication steps where silicon wafers are layered with semiconductor devices [Yahoo Finance]. Its product portfolio includes atomic layer deposition (ALD), epitaxy (Epi), chemical vapor deposition (CVD), and vertical furnace systems for semiconductor manufacturers worldwide [Yahoo Finance]. The company also produces silicon carbide epitaxy tools for power applications and provides spare parts and support services [Yahoo Finance].

ASM International is a Netherlands-based semiconductor equipment manufacturer that designs and sells deposition and surface-modification tools used in chip fabrication [Yahoo Finance]. The company reported trailing-twelve-month revenue of EUR 3.4 billion through 30 June 2026, with an operating margin of 30.6% and strong cash generation [Yahoo Finance]. It holds a Health Score of 9.5/10, reflecting robust profitability, net cash on the balance sheet, and a Piotroski score of 7/9 [Sentinellis calculation].

ASM International is financially healthy, with strong profitability, net cash on the balance sheet, and solid free cash flow generation.

The brief AI analysisConfidence 7/10

Sentinellis health

Financially healthy

9.5/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

14% of score10.0/10
Net margin+31.9%Gross margin+51.8%

Returns on capital

14% of score10.0/10
ROIC+24.1%Return on equity+24.2%

Growth & momentum

19% of score10.0/10
Revenue growth+20.0%Operating margin trend+0.5pp YoY

Balance sheet

29% of score10.0/10
Current ratio2.2xNet debt / EBITDA-0.9xInterest coverage1144.4xDebt / equity0.02

Cash generation

14% of score6.7/10
Free cash flowEUR 415.8MCash vs reported profitEUR 911.6M vs EUR 1.1B· need OCF > net income

Value creation

10% of score10.0/10
ROIC vs cost of capital+13.7pp

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 35.5B

Revenue (TTM)

EUR 3.4B

Explainers

How we read these numbers

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The company trades at a trailing P/E of 33.3x, which is elevated and leaves limited room for error if growth slows or if the semiconductor equipment cycle turns down [Yahoo Finance].

1 of 5 risks in this report

Risks

5

Opportunities

5

Leadership

8

9 more findings in the full report — free with any account.

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Produced 27 Oct 2026, 11:37 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated