ASM International Valuation method update
With this note we provide colour on the changed valuation method. Previously we used a DCF based approach. We still include a 50% weight for our DCF, and add 30% weight on Peer multiples and 20% weight on 2025 PE multiples. Furthermore, we increase revenue forecasts and include higher margins. All components combined result in a valuation of € 545 per share. As all valuation methods show downside, do we reiterate our reduce rating.ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.