ASM stock: Record quarter pulls 2030 target into 2027
Published on 11/09/2026 at 10:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth and capital returns
- ASM reported record third-quarter revenue driven by advanced logic, memory and AI-related capacity investments.
- Management expects 2027 revenue above EUR 5.7 billion at constant currencies, bringing the 2030 target forward by three years.
- A new share buyback authorization of up to EUR 300 million adds a capital-return focus, while tight supply chains remain a constraint.
ASM International reported record third-quarter revenue on October 27, 2026, and raised its 2027 revenue outlook above EUR 5.7 billion. The company also authorized a new share buyback program of up to EUR 300 million. The figures and outlook were published in ASM's third-quarter results release.
Record quarter resets growth expectations
Revenue reached EUR 1,159.4 million in the three months ended September 30, up 45 percent from EUR 800.0 million a year earlier and 16 percent from the second quarter. At constant currencies, growth was 44 percent year on year. Equipment revenue rose 48 percent year on year to EUR 936.4 million, while spares and services revenue increased 32 percent to EUR 223.1 million.
ASM attributed the advance to strong demand in advanced logic and foundry, including an initial contribution from 1.4-nanometer investments, as well as higher memory sales. The company said customer capacity remained tight as chipmakers moved to expand output for AI-related applications. Supply-chain conditions were also increasingly tight, creating an execution risk as shipments ramp.
Margins and earnings show mixed effects
Gross margin held at 52.0 percent, compared with 51.9 percent in both the second quarter and the year-earlier quarter. Adjusted operating margin rose to 33.4 percent from 33.0 percent in the second quarter and 30.9 percent a year earlier. Adjusted net earnings increased to EUR 315.4 million from EUR 206.2 million.
Reported net earnings fell to EUR 308.1 million from EUR 384.1 million in the prior-year quarter. ASM's release shows that the earlier period included a EUR 181.4 million impairment reversal related to investments in associates, making the adjusted comparison more representative of underlying operating progress.
Higher targets and buyback
For the fourth quarter, ASM expects revenue of EUR 1,230 million, plus or minus 5 percent, at constant currencies. On that basis, 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 EUR 5.7 billion at constant currencies. That would reach the revenue target set for 2030 at the 2025 Investor Day three years ahead of plan. Advanced logic and foundry are expected to remain the strongest growth driver, supported by further 2-nanometer sales and momentum at 1.4 nanometers. Memory is also expected to grow strongly.
The new buyback authorization follows completion of a previous program of up to EUR 150 million. ASM said that program repurchased 185,522 shares at an average price of EUR 808.53 between August 10 and September 14, 2026. Details of the new program are due before it begins.
ASM stock traded at 653.00 euros on Lang & Schwarz at 10:31 CET on Monday, November 9, 2026. The real-time quote of ASM stock is available for investors tracking the current market.
ASM International at a glance
- Company: ASM International N.V.
- ISIN: NL0000334118
- Ticker: ASM
- Home exchange: Euronext Amsterdam
- Lang & Schwarz price: 653.00 euros at 10:31 CET on November 9, 2026
The Dutch AEX market remains the relevant broader European equity backdrop for ASM investors.
More news and analyses on ASM stock will focus on the start and execution details of the new buyback as well as progress against the accelerated growth targets.
