BN · rank #4 · 2026-09-07
ASM
AMSTERDAM · EUR · $46.87B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | 0.87 |
|---|---|
| Forward revenue growth Consensus forward revenue growth. | +28.5% |
| Forward net margin Consensus forward net margin. | +32.3% |
| Net margin TTM Trailing twelve month net margin. | +31.9% |
| Margin expansion Forward minus trailing net margin (percentage points). | +0.4% |
| Forward PEG Forward P/E to growth. Below 1 is cheap for the growth. | 1.14 |
| Debt / FCF Net debt relative to free cash flow. Lower is safer. | 0.10× |
| Analyst upside Spread between the consensus 12m target and the current price. | +36.1% |
| Last EPS surprise Most recent reported EPS versus consensus. | +5% |
| Market cap (USD) | $46.87B |
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
ASM International is a leading provider of atomic layer deposition (ALD) and epitaxy tools that are structurally embedded in EUV-era logic and HBM DRAM manufacturing at the world's most advanced fabs.
Rationale
Record Q2 2026 revenue of €1.0B (+24% YoY), raised 2027 guidance above €4.6B, 51.9% gross margins, and a fwd PEG of 1.14 confirm that ASM is a genuine process-critical bottleneck solver with visible demand rather than a sentiment-driven rotation play.
Material risks
- 1China export-control escalation could abruptly curtail mature-node tool shipments that are currently a meaningful revenue contributor, directly compressing near-term growth and invalidating the raised guidance trajectory.
- 2Customer capex concentration in a handful of leading logic/foundry and HBM DRAM customers means a single large customer's spending pause or in-house process substitution could cause a sharp order air pocket despite the structural ALD moat.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.