BN · rank #2 · 2026-10-23
BESI
AMSTERDAM · EUR · $13.96B (USD)
The exact numbers the algorithm saw.
| Composite score Z-score blend of the factors below; drives the rank. | 1.08 |
|---|---|
| Forward revenue growth Consensus forward revenue growth. | +33.1% |
| Forward net margin Consensus forward net margin. | +31.7% |
| Net margin TTM Trailing twelve month net margin. | +28.4% |
| Margin expansion Forward minus trailing net margin (percentage points). | +3.3% |
| Forward PEG Forward P/E to growth. Below 1 is cheap for the growth. | 0.64 |
| 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. | +65.9% |
| Last EPS surprise Most recent reported EPS versus consensus. | +2% |
| Market cap (USD) | $13.96B |
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 NV (Besi) manufactures advanced semiconductor assembly equipment, specializing in high-precision die attach and copper-to-copper hybrid bonding systems for AI logic, HBM memory, and 3D packaging.
Rationale
The bottleneck_solvers signal is valid as Besi resolves critical high-density 3D packaging constraints in AI chip manufacturing, driving 116.5% H1-26 order growth and customer expansion to 21 hybrid-bonding adopters.
Material risks
- 1Intensifying hybrid-bonding competition from ASMPT, EV Group, SUSS MicroTec, and Samsung's Semes could compress equipment margins and contest customer share as packaging tools standardize.
- 2Heavy revenue concentration in Asia (~76% in 2025) leaves the company vulnerable to semiconductor export controls, geopolitical tensions, and China equipment localization mandates.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 1 of 3 voted to proceed.