QM · rank #8 · 2026-09-11
BESI
AMSTERDAM · EUR · $17.40B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +88.49% |
|---|---|
| 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 2026-08-12 | $231.80 |
| Anchor (far) Close on 2025-08-12 | $122.97 |
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 co-packaged optics architectures.
Rationale
The quality_momentum signal is strongly reinforced by Q2-26 results showing 68.7% revenue growth, 35.6% net margins, and 128.8% order growth YoY, alongside a raised long-term revenue target, confirming that both the momentum and profitability legs of the screen reflect real fundamental acceleration rather than sentiment alone.
Material risks
- 1Hybrid bonding customer concentration risk — the jump from 15 to 21 customers is encouraging, but if a hyperscaler or leading-edge foundry (TSMC, Intel) internalizes hybrid bonding tooling or qualifies a competing platform (e.g., SET/Kulicke), Besi's sole-supplier pricing power erodes rapidly.
- 2Order-to-revenue timing risk: the 128.8% order surge creates a high comparison base entering H2-26/2027, and any AI capex pause or customer push-out could cause a sharp sequential revenue deceleration that breaks the momentum signal.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 3 of 3 voted to proceed.