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ASM International NV (0NX3) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of ASM International NV €370, price €947, upside -60.9%, quality 86 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · GB · ISIN NL0000334118

AI Thin data Oct 3, 2026

ASM International NV

0NX3 · LSE

Quality Too ExpensiveQuality growthExcellent quality, but the valuation looks stretched.

!Fair value €370.02 · Strongly overvalued (−60.9%)
✓Quality 86/100
!Mixed Growth (revenue 3y +21.7 %/yr)
✓Highly profitable · 31.0% net margin (TTM)
✓1.2% dividend yield · Well covered
✓Wide moat 85/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€1,083 €196.05 Fair Value €370.02 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range €196.05 – €1,083 · fair‑value band €246.78 – €481.02 · the €947.00 price screens above the €370.02 fair value. Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

ASM International NV, together with its subsidiaries, engages in the research, development, manufacturing, marketing, and servicing of equipment and materials used to produce semiconductor devices in the United States, Europe, and Asia.

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ASM International NV, together with its subsidiaries, engages in the research, development, manufacturing, marketing, and servicing of equipment and materials used to produce semiconductor devices in the United States, Europe, and Asia. The company offers equipment used in wafer processing, which encompasses the fabrication steps in which silicon wafers are layered with semiconductor devices. It also provides wafer-processing deposition systems for surface modification, atomic layer deposition (ALD), such as plasma enhanced ALD (PEALD); epitaxy (Epi); plasma enhanced chemical vapor deposition (PECVD); and vertical furnace systems, including low pressure chemical vapor deposition (LPCVD), diffusion, oxidation, and cure. In addition, the company provides silicon carbide epitaxy (SiC Epi) tools for power and wafer applications; chemical mechanical polishing equipment for compound semiconductors and More-than-Moore manufacturing; and spare parts and support services. It sells its products to semiconductor manufacturers. The company was formerly known as Advanced Semiconductor Materials International NV. ASM International NV was incorporated in 1968 and is headquartered in Almere, the Netherlands.

Stock analysis

ASM International NV (0NX3) currently trades at €947.00, while our model-based Fair Value estimate is €370.02, 60.9% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €270.35 per share, and 0 of the 25 models we run sit above the €947.00 price.

Bear case: the Dividend Discount group reads lowest at €39.04, and 25 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: €246.78 (bear) to €481.02 (bull), the price of €947.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 86/100 (high quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

ASM International NV reported revenue of €1.3B in FY2020 versus €598M in FY2016, a compound +22.1%/yr. Reported net income was €285M in FY2020, compounding +20.5%/yr from FY2016.

Key figures

Market cap €13.6B · P/E ratio 0.3 · P/S ratio 0.06 · EPS (TTM) €10.53 · Dividend yield 1.2% · Net margin 21.5% · Return on equity 24.9% · Return on assets (EBIT) 9.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

The share trades about 13% below its 52-week high and 104% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −28% fair-value upside, at −61%, 0NX3 screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (€24.78 to €317.90). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear €246.78 Fair Value €370.02 Bull €481.02
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income €37.81 €49.02 €74.79 71
EPV €40.12 €46.81 €52.66 70
FCF DCF €174.63 €285.91 €617.75 69
All 25 models by family
DCF Models
FCF DCF €174.63 €285.91 €617.75 69
5Y Revenue Exit €93.78 €155.72 €275.90 64
5Y EBITDA Exit €127.83 €228.32 €413.62 66
5Y P/E Exit €133.82 €270.35 €446.47 62
10Y Revenue Exit €114.58 €208.03 €297.07 60
10Y EBITDA Exit €141.24 €274.42 €515.53 59
10Y P/E Exit €145.49 €286.10 €527.94 55
Earnings-Based
Graham-Dodd €38.69 €269.83 €378.67 60
Lynch FV €84.56 €120.80 €157.04 58
PEG = 1.0 €84.56 €120.80 €157.04 55
EPV €40.12 €46.81 €52.66 70
Dividend Discount
Gordon GGM €22.27 €46.30 €73.45 63
DDM Multi-Stage €22.27 €39.04 €48.60 64
Multiples
P/E Multiple €119.49 €159.32 €199.15 63
P/S Multiple €72.55 €96.73 €120.91 58
P/B Multiple €72.55 €96.73 €120.91 55
EV/EBIT €117.41 €156.54 €195.67 63
EV/EBITDA €111.13 €148.17 €185.22 64
EV/Revenue €59.36 €84.79 €110.23 51
Asset-Based
NCAV (Graham) €18.49 €24.78 €36.98 51
Growth DCF
Growth DCF €165.61 €317.90 €615.01 67
Rev-Margin DCF €93.78 €170.52 €286.30 64
Economic Profit
Residual Income €37.81 €49.02 €74.79 71
ROIC Compounder €43.20 €61.28 €77.75 67
Growth Earnings
Growth-Adj P/E €129.51 €185.01 €240.51 65

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Quality Score breakdown

Overall quality 86/100

Of which business quality 81 · Market factors (momentum, volatility) 63

Profitability 63
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 76
Price trend over the last 3–12 months (market factor)
52W Momentum 89
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
13.8% (2016) → 24.6% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0NX3 screens overvalued: fair value 61% below the price. Compare with ASML Holding →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductor Equipment & Materials · 214 stocks

Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 86 · Top 25%
Fair Value upside −86.9% · Bottom 25%
Profitability
Return on equity (TTM) 24.9% · Top 25%
Return on assets 10.9% · Top 25%
Net margin (TTM) 31.0% · Top 25%
Operating margin (TTM) 32.2% · Top 25%
Growth and dividend
Revenue growth 2.8% · Bottom 25%
Dividend yield (TTM) 1.2% · Above median

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 0.3× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,597 €1,350 −15%
Lam Research Corporation LRCX $314.47 $250.94 −20%
Applied Materials, Inc AMAT $511.38 $368.52 −28%
KLA Corporation KLAC $187.92 $160.12 −15%
Teradyne, Inc TER $415.79 $65.79 −84%
Advanced Micro-Fabrication Equipment Inc 688012 ¥339.30 ¥110.10 −68%
Hon. Precision, Inc 7769 5,670 TWD 4,864 TWD −14%
Piotech Inc 688072 ¥700.90 ¥320.60 −54%
Qnity Electronics, Inc Q $124.69 $70.44 −44%
Entegris, Inc ENTG $151.89 $92.64 −39%

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ASM International NV · Fair Value
€370.02 −61%Fair Value
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Cite: Fair Value Calculator (2026). "ASM International NV Fair Value". https://www.fairvalue-calculator.com/stock/0NX3

Frequently asked questions

Is ASM International NV (0NX3) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of €370.02 versus a price of €947.00, about −61% upside (overvalued).
What is the fair value of 0NX3?
Our model-based fair value for ASM International NV is €370.02 (as of Oct 3, 2026), built from audited fundamentals. The current price: €947.00.
What is the quality score of 0NX3?
ASM International NV has a Quality Score of 86/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ASM International NV (0NX3)?
Our model-based price target is the fair value of €370.02 (as of Oct 3, 2026) from 25 valuation models. Cautious scenario €246.78, optimistic scenario €481.02. It is a calculation from audited fundamentals, not an analyst target.
What is the ASM International NV stock forecast for 2026?
Our models put fair value at €370.02, about −61% upside versus a price of €947.00 (overvalued). Cautious scenario €246.78, optimistic scenario €481.02. The calculation is refreshed regularly with new filings.
What is the revenue of ASM International NV (0NX3)?
ASM International NV reported trailing-twelve-month revenue of about €3.2B (latest available figure, as of Oct 3, 2026).
Does ASM International NV pay a dividend?
ASM International NV currently shows a dividend yield of about 1.17% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of ASM International NV (0NX3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASM International NV it is €370.02 per share (as of Oct 3, 2026), against a price of €947.00. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is ASM International NV stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0NX3 trades above its calculated fair value: price €947.00, fair value €370.02, a gap of about −61% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0NX3?
No. The price is what the market pays today (€947.00); the fair value is what the company's own numbers justify (€370.02). For ASM International NV the two are €576.98 per share apart. That gap is exactly why we show both numbers side by side.
How much is ASM International NV worth?
The market values ASM International NV at about €13.6B (market capitalisation, as of Oct 3, 2026). Per share that is €947.00; our models calculate a fair value of €370.02 per share.
What do the bullish and bearish scenarios say about 0NX3?
Our models span a range for ASM International NV: cautious scenario €246.78, base €370.02, optimistic €481.02 per share (as of Oct 3, 2026, price €947.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0NX3?
ASM International NV trades at a price-to-earnings ratio of 0.3 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €370.02 is built from several models across several years.
How solid is the balance sheet of ASM International NV (0NX3)?
Balance-sheet figures for ASM International NV (as of Oct 3, 2026): return on equity 24.9%. They feed the Quality Score of 86/100, which measures business quality independently of the share price.
How far is 0NX3 from its 52-week high?
ASM International NV trades at €947.00, about 13% below its 52-week high of €1,083 and 104% above the low of €464.39 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €370.02 is for.
Which stocks are comparable to ASM International NV?
From the same area (Technology) we also value ASML Holding, Lam Research Corporation, Applied Materials, Inc, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ASM International NV stock attractive at the current price?
The data as of Oct 3, 2026: price €947.00, calculated fair value €370.02 (−61%), Quality Score 86/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0NX3 calculated?
We run ASM International NV through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €370.02, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. ASM International NV itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ASM International NV (0NX3)?
The closing price on Oct 2, 2026 was €947.00. Our model-based fair value is €370.02, about −61% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASM International NV right now?
A high-quality business (quality 86/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (€481.02). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (€246.78 to €481.02) leaves room in how you read the outcome.

Key figures of ASM International NV

How large is the market capitalisation of ASM International NV (0NX3)?
The market capitalisation of ASM International NV is €13.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ASM International NV (0NX3)?
The price-to-sales ratio of ASM International NV is 0.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ASM International NV (0NX3)?
Earnings per share at ASM International NV are €10.53 (price ÷ EPS = P/E 0.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASM International NV (0NX3)?
The dividend yield of ASM International NV is 1.2% (payout 105%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ASM International NV (0NX3)?
The net margin of ASM International NV is 21.5% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ASM International NV (0NX3)?
The return on equity (ROE) of ASM International NV is 24.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ASM International NV (0NX3)?
On an EBIT basis the return on assets of ASM International NV is 9.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ASM International NV (0NX3)?
The operating margin of ASM International NV is 32.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASM International NV (0NX3)?
Revenue at ASM International NV is growing +2.8% versus a year earlier (3y avg +21.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ASM International NV (0NX3)?
Earnings per share at ASM International NV are growing −26.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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