ASM stock: Record quarter pulls 2030 target into 2027

Published on 11/09/2026 at 17:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ASM stock stays in focus after record Q3 revenue and a higher 2027 target. A new buyback adds a capital-return angle for investors.

Growth targets move forward

ASM posted record third-quarter revenue of 1,159.4 million euros, supported by advanced logic, foundry, memory and AI-related demand.
Management expects 2027 revenue above 5.7 billion euros at constant currencies, three years ahead of the former 2030 target.
A new buyback authorization of up to 300 million euros adds a capital-return focus while supply-chain execution remains important.

ASM, NL0000334118, Illustration mit AI erstellt.

ASM stock traded at 679.80 euros on Lang & Schwarz at 17:10 CET on Monday, November 9, 2026. That was 4.11 percent above the 653.00-euro quote cited in the latest report published earlier the same day at 10:33 CET; this since-report move is separate from the daily Xetra comparison.

Record quarter lifts expectations

ASM International reported its third-quarter results on October 27, 2026. According to the company’s official Q3 results release, revenue reached a record 1,159.4 million euros in the three months ended September 30, up 45 percent from the prior-year quarter and 16 percent from the second quarter. Growth at constant currencies was 44 percent.

Equipment revenue rose 48 percent year on year to 936.4 million euros. Spares and services revenue increased 32 percent to 223.1 million euros. ASM linked the quarter to strong demand in advanced logic and foundry, including an initial contribution from 1.4-nanometer investments, as well as higher memory sales tied to customer capacity expansion for AI applications.

Margins and earnings send mixed signals

Gross margin was 52.0 percent, while adjusted operating margin reached 33.4 percent, up from 30.9 percent a year earlier. Adjusted net earnings increased to 315.4 million euros from 206.2 million euros.

Reported net earnings declined to 308.1 million euros from 384.1 million euros in the prior-year quarter. The comparison was affected by a 181.4 million euro impairment reversal in the earlier period, making the adjusted figures more representative of operating progress.

2027 target comes into view

ASM expects fourth-quarter revenue of 1,230 million euros, plus or minus 5 percent, at constant currencies. Full-year 2026 revenue is expected to rise by approximately 35 percent, with equipment revenue growing by more than 40 percent.

Management now expects 2027 revenue to exceed 5.7 billion euros at constant currencies. That would match the revenue target set for 2030 at the 2025 Investor Day three years ahead of schedule. Advanced logic and foundry are expected to remain the strongest growth drivers, while memory demand is also projected to grow strongly.

Buyback adds capital-return focus

The Management Board authorized a new share buyback program of up to 300 million euros on October 27. ASM had completed its previous program of up to 150 million euros after repurchasing 185,522 shares at an average price of 808.53 euros. Details of the new program are due before it begins.

The Dutch AEX market remains the relevant broader equity backdrop for ASM investors.