QM · rank #14 · 2026-10-27
ASM
AMSTERDAM · EUR · $38.85B (USD)
The exact numbers the algorithm saw.
| Momentum 12-1 Return from 12 months ago to 1 month ago. | +71.99% |
|---|---|
| ROE TTM Return on equity, trailing 12 months. | +26.8% |
| Profit margin Net profit margin, trailing 12 months. | +31.9% |
| Market cap (USD) Size filter: > $300M required (USD-equivalent). | $38.85B |
| Anchor (recent) Close on 2026-09-25 | $844.60 |
| Anchor (far) Close on 2025-09-26 | $491.09 |
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 the dominant supplier of single-wafer ALD and epitaxy equipment, holding >55% share in a process step that becomes more intensive at each successive logic node transition (3nm→2nm→1.4nm GAA).
Rationale
The 72% trailing momentum is structurally grounded—record Q2 revenue, 24% YoY growth, 51.9% gross margin, and management's >20% H2 step-up confirm that quality metrics (ROE 26.8%, margin 31.9%) reflect genuine earnings power at an inflection in ALD tool intensity, not multiple expansion alone.
Material risks
- 1China export-control tightening could abruptly remove the mature-logic/foundry demand that contributed materially to H1 revenue, creating a gap that leading-edge ramps cannot immediately fill and breaking the near-term earnings trajectory.
- 2Q3 2026 results drop October 27 (one day after as-of date), meaning the position enters earnings blind—a miss versus the €1.1B guide or margin disappointment would immediately reprice momentum and quality signals.
AI verdict council
Each pick is reviewed independently by 3 models before any order. 2 of 3 voted to proceed.