ASM International N.V. (ASMIY) Stock Analysis & Winston Score

ASM International is a Dutch company that makes machines used to build computer chips. Its main product is equipment for a process called atomic layer deposition (ALD), which deposits extremely thin layers of material onto silicon wafers — layers just a few atoms thick. Chipmakers like TSMC, Samsung, and Intel use ASM's machines to manufacture advanced semiconductors found in phones, computers, and data centers.

ASM earns revenue by selling this specialized equipment and providing related services and spare parts to chip factories around the world. It operates primarily in Europe, Asia, and North America, with a heavy customer concentration in Asia where most chip manufacturing takes place. The company holds a strong position in ALD technology, which is increasingly required as chips shrink to smaller sizes — giving ASM a technical moat. The key growth driver is rising demand for advanced chips used in AI and high-performance computing, while its main risk is the cyclical nature of semiconductor capital spending.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+927.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$384M/ year

→ Flat (+4% vs prior year)

12.6% of revenue

In line with sector average (15%)

Steady R&D investment year-over-year

Insider Activity

4.8%ownership

Relatively low insider ownership

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$1.9B cash & investments at current burn rate

Growth context

ASM International N.V. is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.6% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 48.9M (2021) → 49.2M (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

53.3%

Healthy — 53.3% gross margin

Operating Margin

32.3%

Excellent — 32.3% operating margin

ROCE

6.5%

Weak — 6.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+1.8%

Nearly flat sales (1.8% YoY)

EPS YoY

+106.7%

Earnings growing fast (106.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

78%

Modest — 78% of profit becomes cash

FCF Margin

13.3%

Converts sales into free cash efficiently (13.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

N/A

Data not available

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

48.8x

Expensive — P/E 48.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+17.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (48.8 → 31.3)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

0.37%

Small dividend — 0.37% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+71.0%

Dividend growing fast (71.0% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial