BN · rank #1 · 2026-07-27
BESI
AMSTERDAM · EUR · $20.50B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | 1.55 |
|---|---|
| Forward revenue growth Consensus forward revenue growth. | +35.0% |
| Forward net margin Consensus forward net margin. | +31.6% |
| Net margin TTM Trailing twelve month net margin. | +28.4% |
| Margin expansion Forward minus trailing net margin (percentage points). | +3.2% |
| Forward PEG Forward P/E to growth. Below 1 is cheap for the growth. | 1.29 |
| Debt / FCF Net debt relative to free cash flow. Lower is safer. | 1.48× |
| Analyst upside Spread between the consensus 12m target and the current price. | +30.9% |
| Last EPS surprise Most recent reported EPS versus consensus. | -3% |
| Market cap (USD) | $20.50B |
The AI research card
Independent qualitative review of each pick before the order is placed. On the rare day the research service is unavailable, the paper book trades on the quant ranking alone and no card appears here.
Summary
BE Semiconductor Industries (BESI) is a Dutch manufacturer of advanced semiconductor assembly and hybrid bonding equipment, serving AI infrastructure, high-end mobile, and data center packaging markets.
Rationale
Besi's record hybrid bonding order intake (€292.9M in Q2, +128.8% YoY) and dominant position in 2.5D/3D advanced packaging directly validate the bottleneck-solver thesis — it is a critical enabler of AI chip scaling with rising backlog providing revenue visibility.
Material risks
- 1Softer near-term margin guidance despite record orders signals potential cost inflation from development and customer support scaling, which could compress the 35.6% net margin that underpins the fwd_peg of 1.29 and the quality component of the signal.
- 2Concentrated demand exposure to AI infrastructure and high-end mobile means any capex pause by TSMC, Intel, or major OSATs would hit orders sharply given semiconductor equipment's inherently cyclical order patterns.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.