BN · rank #2 · 2026-09-08
ASM
AMSTERDAM · EUR · $49.05B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | 0.86 |
|---|---|
| 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. | +30.2% |
| Last EPS surprise Most recent reported EPS versus consensus. | +5% |
| Market cap (USD) | $49.05B |
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 European semiconductor equipment maker specializing in proprietary wafer-processing deposition tools critical for advanced logic, HBM DRAM, and mature node fabs.
Rationale
The bottleneck-solver thesis is directly reinforced by ASM's sole-source deposition positions at leading-edge foundries and memory makers, record Q2 2026 revenue of €1,003M (+24% YoY), raised 2027 guidance above €4.6B, and a fwd PEG of 1.14 that prices in 28.5% revenue growth at a modest premium — structural scarcity, not sentiment rotation.
Material risks
- 1U.S. export control escalation targeting advanced deposition tools to China could abruptly impair the China segment, which is currently a meaningful growth contributor and bookings source — a regulatory stroke that would directly shrink the addressable market without any operational offset.
- 2Customer concentration at TSMC and Samsung means a capex pause or node delay at either fab (e.g., 2nm ramp slippage) would compress near-term order intake and threaten the raised H2 2026 and 2027 revenue targets that underpin the current valuation.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.