QM · rank #9 · 2026-09-10
BESI
AMSTERDAM · EUR · $17.40B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +86.28% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +44.9% |
| Profit margin Net profit margin, trailing 12 months. | +28.4% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $17.40B |
| Anchor (recent) Close on 2026-08-11 | $225.00 |
| Anchor (far) Close on 2025-08-11 | $120.79 |
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
Besi is a Netherlands-based semiconductor assembly equipment maker specializing in hybrid bonding, die attach, and advanced packaging systems, increasingly positioned as a critical enabler of AI-driven chiplet and 2.5D/3D integration architectures.
Rationale
The quality_momentum signal is directly reinforced by hard data — Q2-26 revenue +68.7% YoY, net margin expanding to 35.6%, orders surging 128.8% YoY, and a raised long-term revenue target, all confirming that both the earnings quality and price momentum legs of the screen reflect genuine fundamental acceleration rather than sentiment alone.
Material risks
- 1Hybrid bonding customer count rising from 15 to 21 in one quarter signals rapid ecosystem expansion, but also raises the risk that larger IDMs or OSATs (e.g., TSMC, Intel, Samsung) internalize bonding capability, eroding Besi's sole-supplier leverage at key accounts.
- 2Order concentration in AI datacenter and mobile hybrid bonding means any pause in hyperscaler capex or a technology transition away from current 2.5D/hybrid bonding architectures (e.g., monolithic integration advances) could cause sharp order deceleration given the lumpy, capex-cycle nature of equipment spending.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.