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BE Semiconductor Industries N.V. (BSI) Fair Value & Analysis

Technology · DE · Market cap €20.2B

What is BE Semiconductor Industries N.V. really worth?

BS BE Semiconductor Industries N.V. BSI · XETRA
Price€197.05
Fair Value€27.16
Upside−86.2%
Quality76/100

A strong business, but trading 626% above our fair value of €27.16.

As of Aug 13, 2026, the fair value of BE Semiconductor Industries N.V. is €27.16 per share against a price of €197.05, so the fair value sits 86% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 24.0% net margin
Moderate debt · generates free cash flow
Wide moat 93/100

Risks

!Weak Growth (revenue 3y −6.5 %/yr)
!Mixed vs. peers (6/13)
!Evidence only low, so the estimate is less certain
!Weak on dividend: 16 out of 100

For context

·0.80% dividend yield
Evidence: Low Range €18.63 – €35.81

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 23 days ago

Share price −8.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 76/100), 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 (€35.81). 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 (€18.63 to €35.81) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€320.90 €5.08 Fair Value €27.16 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €5.08 – €320.90 · fair‑value band €18.63 – €35.81 · the €197.05 price screens above the €27.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

BE Semiconductor Industries N.V. (BSI) currently trades at €197.05, while our model-based Fair Value estimate is €27.16, implying the stock looks roughly 625.7% overvalued today. The Quality Score stands at 76/100 (high quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of €34.88 per share, and 0 of the 24 models we run sit above the €197.05 price. Bear case: the Asset-Based group reads lowest at €3.52, and 24 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, BE Semiconductor Industries N.V. generated revenue of €632M at a net margin of 24.0%. Revenue grew 28.3% year over year. It earns a return on equity of 31.3%. Net debt stands at €134M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €18.63 (bear case) to €35.81 (bull case); at €197.05, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 32% below its 52-week high and 90% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at −86%, BSI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.2183 per share, which is 0.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (€3.52 to €50.76). Read the values as a conservative anchor, not as a price target.
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. Evidence
Highest evidence
FCF DCF €15.04 €21.61 €33.78 76
Growth DCF €15.82 €22.20 €33.10 75
Owner Earnings €13.47 €19.43 €30.45 73
All 24 models by family
DCF Models
FCF DCF €15.04 €21.61 €33.78 76
Owner Earnings €13.47 €19.43 €30.45 73
5Y Revenue Exit €15.96 €24.60 €37.17 69
5Y EBITDA Exit €23.30 €37.30 €55.86 71
5Y P/E Exit €23.12 €36.99 €53.53 67
10Y Revenue Exit €14.94 €21.36 €28.28 65
10Y EBITDA Exit €19.92 €29.21 €39.25 66
10Y P/E Exit €19.81 €29.02 €37.89 62
Earnings-Based
Graham-Dodd €11.30 €13.82 €15.54 65
EPV €14.75 €17.49 €19.89 71
Dividend Discount
Gordon GGM €20.04 €21.93 €24.82 67
DDM Multi-Stage €20.04 €25.14 €32.29 65
Multiples
P/E Multiple €34.91 €46.55 €58.18 63
P/S Multiple €21.20 €28.26 €35.33 58
P/B Multiple €21.20 €28.26 €35.33 55
EV/EBIT €37.64 €50.76 €63.87 66
EV/EBITDA €33.56 €45.31 €57.06 67
EV/Revenue €18.19 €26.72 €35.24 53
Asset-Based
NCAV (Graham) €2.63 €3.52 €5.26 54
Growth DCF
Growth DCF €15.82 €22.20 €33.10 75
Rev-Margin DCF €15.96 €25.00 €36.02 69
Economic Profit
Residual Income €9.63 €11.44 €35.80 62
ROIC Compounder €14.75 €18.17 €21.60 69
Growth Earnings
Growth-Adj P/E €24.42 €34.88 €45.35 65

Widest divergence: Growth Earnings (€34.88) versus Asset-Based (€3.52). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 103.2
P/S ratio 23.0 P/E × margin
EPS (TTM) €1.91 price ÷ EPS = P/E 103.2
Dividend yield 0.8% payout 82.7%
Net margin 22.3% FY2025
Return on equity 31.3% TTM
More key figures
Profitability
Return on assets (EBIT) 21.8% avg 5y
Operating margin 34.6% TTM
Growth
Revenue (TTM) €632M TTM
Revenue growth (YoY) +28.3% 3y avg −6.5%
EPS growth (YoY) +63.5%
Balance sheet & cash flow
Free cash flow €136M FY2025
Net debt €134M FY2025 · ≈ 1.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 71 · Market factors (momentum, volatility) 51

Profitability 72
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally. It operates through three segments: Die Attach, Packaging, and Plating.

Full company description

BE Semiconductor Industries N.V. develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally. It operates through three segments: Die Attach, Packaging, and Plating. The company offers single chip, multi chip, multi module, flip chip, epoxy and soft solder die bonding systems, hybrid, TCB and embedded bridge die bonding, die lid attach, and fan out wafer level packaging systems; and conventional, ultra-thin and wafer level molding, trim and form, and singulation systems. It also provides tin, copper, precious metal and solar plating systems, and related process chemicals; and tooling, conversion kits, spare parts, and other services. The company sells its products under the Fico, Meco, Datacon, and Esec brands. It serves multinational chip manufacturers, foundries, assembly subcontractors and electronics, and industrial companies. BE Semiconductor Industries N.V. was incorporated in 1995 and is headquartered in Duiven, the Netherlands.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BE Semiconductor Industries N.V. reported revenue of €591M in FY2025 versus €749M in FY2021, a compound −5.7%/yr. Reported net income was €132M in FY2025, compounding −17.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€591M
Latest YoY
−2.7%
Avg. revenue growth/yr (3Y) 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.
−6.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−13.6% · in EUR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−14.4%
Dividend yield0.8%
Operating margin (EBIT) 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.42.4% (2021) → 29.3% (2025) · falling
Worst earnings drop37% (2023) · in EUR
Revenue −5.7%/yr
FY21 €749M
FY22 €723M
FY23 €579M
FY24 €607M
FY25 €591M
Net income −17.4%/yr
FY21 €282M
FY22 €241M
FY23 €177M
FY24 €182M
FY25 €132M

BSI screens 626% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "BE Semiconductor Industries N.V. Fair Value". https://www.fairvalue-calculator.com/stock/BSI.XETRA

Peer Group

Semiconductor Equipment & Materials · 212 stocks

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.

Quality Score 76 · Top 25%
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 31% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 35% · Top 25%
Revenue growth 28% · Above median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 1.22× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 103.2× · Pricier than 75% of peers
P/S (TTM) 37.10× · Pricier than 75% of peers
P/FCF 172.0× · Pricier than 75% of peers
PEG 1.48× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 59
PAST100 · sector 31
HEALTH39 · sector 96
DIVIDEND16 · sector 17

VALUE 0: the price sits above our fair-value range.

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 (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,494 €604.27 −60%
Applied Materials, Inc AMAT $454.71 $183.10 −60%
Lam Research Corporation LRCX $301.90 $91.80 −70%
KLA Corporation KLAC $175.54 $74.58 −58%
NAURA Technology Group 002371 ¥707.90 ¥205.30 −71%
Teradyne, Inc TER $354.97 $65.80 −81%
Advanced Micro-Fabrication Equipment Inc 688012 ¥335.42 ¥55.05 −84%
Piotech Inc 688072 ¥685.11 ¥89.27 −87%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD −72%
Hangzhou Changchuan Technology Co 300604 ¥284.80 ¥46.26 −84%

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Frequently asked questions

Is BE Semiconductor Industries N.V. (BSI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €27.16 versus a price of €197.05, about −86% upside (overvalued).
What is the fair value of BSI?
Our model-based fair value for BE Semiconductor Industries N.V. is €27.16 (as of Aug 13, 2026), built from audited fundamentals. The current price: €197.05.
What is the quality score of BSI?
BE Semiconductor Industries N.V. has a Quality Score of 76/100. 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 BE Semiconductor Industries N.V. (BSI)?
Our model-based price target is the fair value of €27.16 (as of Aug 13, 2026) from 24 valuation models. Cautious scenario €18.63, optimistic scenario €35.81. It is a calculation from audited fundamentals, not an analyst target.
What is the BE Semiconductor Industries N.V. stock forecast for 2026?
Our models put fair value at €27.16, about −86% upside versus a price of €197.05 (overvalued). Cautious scenario €18.63, optimistic scenario €35.81. The calculation is refreshed regularly with new filings.
What is the revenue of BE Semiconductor Industries N.V. (BSI)?
BE Semiconductor Industries N.V. reported trailing-twelve-month revenue of about €632M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BSI?
The net profit margin of BE Semiconductor Industries N.V. is about 24.0%, meaning it keeps roughly 24.0% of revenue as net income. Based on the latest reported figures.
Does BE Semiconductor Industries N.V. pay a dividend?
BE Semiconductor Industries N.V. currently shows a dividend yield of about 0.80% relative to its recent price (as of Aug 13, 2026).
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