Assessing ASM International’s Valuation As AI Demand Fuels Interest In Advanced Chipmaking Tools

Why the recent AI driven attention matters for ASM International ASM International (ENXTAM:ASM) is drawing fresh attention as chipmakers scale up advanced equipment needs for AI and cloud data centers, putting its atomic layer deposition and related tools in sharper focus for investors. See our latest analysis for ASM International. The recent excitement around AI exposed equipment has coincided with a strong 90 day share price return of 36.58% and a 1 year total shareholder return of 21.89%, while the 5 year total shareholder return of 201.53% shows how long term holders have been rewarded during the sector’s AI driven upswing. If ASM International’s AI exposure has caught your eye, it could be a good moment to see what else is moving in chipmaking by checking our screener of 34 AI infrastructure stocks as potential next ideas to research. With ASM International now at €695.20 after a sharp recent run and trading only about 9% below the average analyst target of €758.55, investors may want to consider whether there is still a buying opportunity or whether the market already reflects expectations for future growth. Most Popular Narrative: 6.7% Undervalued The most followed narrative puts ASM International’s fair value at €745.05, a touch above the last close of €695.20, which sets clear expectations for what needs to go right. The ramp-up of advanced nodes (2nm and 1.4nm gate-all-around) in logic/foundry, driven by accelerating AI and high-performance computing needs, is structurally expanding ASM International's served available market and increasing deposition intensity, directly supporting above-industry revenue growth and resilient orders. Read the complete narrative. Read the complete narrative. Curious what sits behind that premium view? The narrative leans on sustained revenue expansion, richer margins, and a future earnings multiple that assumes ASM keeps earning its current position. Result: Fair Value of €745.05 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, risks around China exposure and concentrated leading edge customers mean that any pullback in orders or new export controls could quickly challenge that optimistic setup. Find out about the key risks to this ASM International narrative. Another View: What ASM’s P/E Is Telling You While the popular narrative leans on a fair value of €745.05, the current P/E of 43.4x is slightly higher than the European semiconductor average of 42x, yet still below ASM International’s own fair ratio of 50.6x. So is the market already stretching, or still leaving some room on the table? See what the numbers say about this price — find out in our valuation breakdown. ENXTAM:ASM P/E Ratio as at Feb 2026 Build Your Own ASM International Narrative If you see the story differently or simply prefer to test the numbers yourself, you can pull together a fresh view in just a few minutes: Do it your way A great starting point for your ASM International research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. Looking for more investment ideas? If ASM International is already on your radar, do not stop there. Broaden your watchlist with a few focused idea lists that could sharpen your next move. Target quality at a discount by reviewing companies our screener ranks as 231 high quality undervalued stocks with solid fundamentals that might warrant a closer look. Prioritise resilience by scanning 320 resilient stocks with low risk scores that score well on stability and may help balance out bolder positions in your portfolio. Get ahead of the crowd by checking our screener containing 551 high quality undiscovered gems before they show up on everyone else's radar. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for Free