We see Besi’s third-quarter results as a clearing event that addressed the two key concerns we highlighted in our Oct. 7 note. Orders of EUR 343 million were ahead of our expectations, giving visibility into a strong 2027.
Besi's clients still need to build their hybrid bonding installed base over the next decade. The average selling price of hybrid bonding is several times that of previous generations, and it also generates higher service revenue due to higher complexity
The semiconductor industry is cyclical, causing big swings in revenue, profit, and the share price. This can cause prolonged depressions in the share price, followed by strong recoveries.
|
Metric
|
BESI
|
00522
|
AMAT
|
|---|---|---|---|
Price/Earnings (Normalized) | 43.99 | 27.41 | 36.25 |
Price/Book Value | 19.49 | 2.95 | 12.26 |
Price/Sales | 14.71 | 3.10 | 10.26 |
Price/Cash Flow | 33.30 | 54.62 | 35.09 |
|
Metric
|
BESI
|
00522
|
AMAT
|
|---|---|---|---|
Quick Ratio | 2.82 | 1.88 | 1.67 |
Current Ratio | 4.49 | 3.07 | 2.42 |
Interest Coverage | 15.65 | 15.30 | 33.00 |
|
Metric
|
BESI
|
00522
|
AMAT
|
|---|---|---|---|
Return on Assets (Normalized) | 26.39% | 4.66% | 22.69% |
Return on Equity (Normalized) | 62.09% | 7.26% | 39.18% |
Return on Invested Capital (Normalized) | 34.29% | 6.28% | 25.01% |
|
1-Day Chart
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Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
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United States