ASM International NV Earnings Recaps
Q1 2026
Apr 22, 2026
ASM delivered a strong Q1 2026, surpassing revenue guidance with 16% YoY growth at constant currency, driven by robust demand in logic/foundry and spares & services amid a supply-tight semiconductor environment.
Key takeaways
- Revenue reached EUR 863 million, at the high end of guidance, with 26% growth compared to Q4 2025, fueled by AI-driven demand across segments.
- Operating margin hit a record 33.1%, supported by favorable product mix and ongoing cost efficiencies; gross margin remained stable at 53.3%.
- Spares & services grew 23% YoY, reflecting expanded outcome-based offerings and high customer utilization rates.
- Market environment remains bullish on AI, prompting expectations of increased capacity investments, especially in advanced logic and memory segments.
- Cash flow was impacted by working capital build-up; free cash flow stood at EUR -48 million, with CapEx exceeding previous guidance to support new site development.
Q3 2025
Oct 29, 2025
ASM International reported solid Q3 2025 results with revenue of EUR 800 million, reflecting an 8% year-on-year increase at constant currency, driven primarily by strong equipment sales.
Key takeaways
- Equipment sales rose 10% year-on-year, particularly in advanced logic/foundry and ALD segments.
- Gross margin held steady at 51.9%, up from 49.4% year-on-year, though expected to slightly decline in Q4 due to a less stable product mix.
- New order intake decreased 7% year-on-year, primarily impacted by a significant drop in orders from China.
- SG&A expenses were 10% lower year-on-year, aligning with ongoing cost efficiency measures.
- Cash position improved to EUR 1.1 billion, with reduced working capital days indicating better operational efficiency.