ASM's third-quarter sales grew 45% to EUR 1.16 billion. We are also pleased with ASM International’s upgraded 2027 revenue guidance of EUR 5.7 billion (we were modeling EUR 5.4 billion in sales), but it is the company's structural underlying drivers that keep us optimistic long-term.
ASM will outgrow the overall wafer fab equipment market, as the transition to gate-all-around transistors will increase adoption of ALD machines. We model a 13% 10-year sales CAGR.
ASM has smaller scale than closest competitors Applied Materials and Lam, which can offer a broad product portfolio to foundries, facilitating data sharing and software integration.
|
Metric
|
ASM
|
8035
|
AMAT
|
|---|---|---|---|
Price/Earnings (Normalized) | 34.72 | 37.01 | 35.71 |
Price/Book Value | 7.62 | 9.81 | 12.08 |
Price/Sales | 9.63 | 22.13 | 10.11 |
Price/Cash Flow | 27.94 | 84.77 | 34.57 |
|
Metric
|
ASM
|
8035
|
AMAT
|
|---|---|---|---|
Quick Ratio | 1.61 | 1.39 | 1.67 |
Current Ratio | 2.13 | 2.63 | 2.42 |
Interest Coverage | — | — | 33.00 |
|
Metric
|
ASM
|
8035
|
AMAT
|
|---|---|---|---|
Return on Assets (Normalized) | 18.82% | — | 22.69% |
Return on Equity (Normalized) | 25.77% | — | 39.18% |
Return on Invested Capital (Normalized) | 24.94% | — | 25.01% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| ASML Holding NV
ASMLF
| LOCK|?b>Mbcs | LOCK|g< | $609B | |||
| ASML Holding NV ADR
ASML
| LOCK|X&Prxs>j | LOCK|<T | $609B | |||
| Applied Materials Inc
AMAT
| LOCK|!>^YcR$ | LOCK|#V> | $310B | |||
| Lam Research Corp
LRCX
| LOCK|<&Jh!XL? | LOCK|Nk< | $299B | |||
| KLA Corp
KLAC
| LOCK|Hjr!x$@m | LOCK|Fd | $206B | |||
| Advantest Corp ADR
ATEYY
| — | LOCK|Y#< | $159B | |||
| Advantest Corp
ADTTF
| — | LOCK|C@d | $159B | |||
| Teradyne Inc
TER
| LOCK|wqvt!$Q | LOCK|%>Q | $43B | |||
| Qnity Electronics Inc
Q
| LOCK|b$%zd^ | LOCK|>>l | $24B | |||
| Entegris Inc
ENTG
| LOCK|<FDggS# | LOCK|t< | $24B |
United States