Annual rank98
Netherlands · Technology
ASM International
Semiconductor equipment provider focused on deposition tools, including atomic layer deposition and silicon epitaxy systems.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Machines that add the functional layers inside a semiconductor
ASM International builds tools used in wafer fabrication, before a silicon wafer is cut into individual chips or packaged. Its equipment adds functional layers that form transistor gates, contacts and power-device structures: atomic layer deposition lays down ultrathin conformal films, plasma-enhanced deposition works at lower temperatures, vertical furnaces treat many wafers together and epitaxy grows a crystal layer with controlled composition. ASM combines materials research with platforms designed for repeatable factory operation.
Inside the vacuum chamber
A wafer receives a film one atomic layer at a time
Inside an ALD chamber, a wafer sees one precursor gas, a purge, a second reactant and another purge. Each surface reaction stops by itself, so the cycle adds an exceptionally controlled film even around narrow three-dimensional features. Those films can insulate, conduct or separate parts of a transistor. ASM's official explainer makes a normally sealed chipmaking step visible.
- See how ALD builds a film Alternating gas pulses, self-limiting reactions and conformal coverage
- Read the ALD explainer ASM's non-specialist introduction to the nanoscale process
- ▶ VideoWatch atomic layer deposition Official English ASM animation of the layer-by-layer sequence
From process to production
Several chambers turn a precise reaction into factory throughput
High-volume fabs need more than a chemical reaction: wafers must enter, move through chambers and leave with the same result around the clock. Synergis performs thermal ALD, while XP8 DCM and Magma use plasma-enhanced processes or PECVD across several chambers. SONORA takes a different route, treating batches of up to 150 wafers in a vertical furnace.
- Explore Synergis Thermal ALD with up to eight independent chambers
- Explore XP8 DCM PEALD Plasma-enhanced ALD for 300 mm semiconductor wafers
- Explore XP8 DCM PECVD Low-temperature dielectric films across eight reaction chambers
- Explore XP8 Magma Parallel plasma-enhanced processing for logic and memory
- See the SONORA batch furnace Thermal processing of as many as 150 wafers together
Growing the crystal
Epitaxy changes the wafer by extending its crystal structure
Epitaxy continues the wafer's crystal structure while changing its composition and electrical properties. Silicon, silicon-germanium and silicon-phosphorus layers can form transistor channels or source and drain regions; silicon carbide is used for power devices. Epsilon and Intrepid serve silicon applications, while PE2O8 is a dual-chamber platform for 200 mm silicon-carbide wafers in volume production.
- Understand epitaxy Crystal growth, silicon alloys and device applications
- Explore Intrepid ES Multi-reactor epitaxy for advanced silicon devices
- Explore Epsilon 2000 Single-wafer silicon epitaxy and selective processing
- Explore PE2O8 Dual-chamber epitaxy for 200 mm silicon-carbide wafers
- ▶ VideoWatch epitaxy explained Official English ASM film on growing a crystalline layer
- ▶ VideoWatch PE2O8 in context Official English product film for the silicon-carbide platform
From laboratory to installed tool
Research, product development and service form one operating chain
ASM describes a development path that starts with materials and process research in Helsinki, integrates candidate steps at imec in Leuven and finishes products at development centres. In Korea, its US$100 million Hwaseong centre combines manufacturing, R&D and two cleanrooms, with a focus on plasma-enhanced ALD. Service products then address uptime, process drift, maintenance and productivity in customer fabs.
- Follow ASM's three-stage R&D path Materials research, device integration and production-tool development
- Visit the Hwaseong centre Manufacturing, R&D and cleanrooms in South Korea
- Explore service products Maintenance, tool matching, drift control and productivity support
- Open the 2025 annual-report hub Group operations, technology, risk and governance in one official source
Official profile sources: ASM Annual Report 2024 · Our story | ASM
Current 2026 update
What is changing at ASM International in 2026?
ASM is moving on three clocks: initial 1.4nm revenue contributions, current HBM demand versus future DRAM architecture, and services shifting from transactions toward contracts aimed at defined performance outcomes.
The change in one sentence
New chip architectures can add deposition content before they reach volume production.
The 1.4nm node, 4F2 and 3D DRAM, and outcome-based services sit at different maturity levels; ASM's market-size and 2030 mix figures remain management estimates and targets.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · Pilot revenue before volume
Initial 1.4nm revenue is expected ahead of the roadmap node year
ASM's Q2 presentation expects initial 1.4nm contributions in H2 2026, while its technology roadmap places second-generation gate-all-around at 1.4nm in 2027, after first-generation 2nm. The early revenue signal is not evidence that high-volume manufacturing has begun. The commercial logic is architectural: greater device complexity and additional materials layers can increase atomic-layer-deposition and epitaxy content per wafer. ASM estimates the move from 2nm GAA to 1.4nm adds USD450m-500m to its combined ALD and Epi served available market per 100,000 wafer starts per month of capacity. That is the issuer's future-market estimate, not booked revenue, an order, contract value or the cost of production capacity.
- Current signalInitial H2 2026 contribution expected · 1.4nm roadmap year 2027 · USD450m-500m estimated SAM increment per 100k WSPM
- Why it mattersArchitecture transitions can raise ASM's addressable deposition content per wafer before the node reaches volume production.
- Q2 node, memory and service roadmap ASM International · 28 July 2026
02 · Two memory clocks
HBM demand is current; 4F2 and 3D DRAM are separate architecture transitions
Q2 memory growth came mainly from HBM-related DRAM; memory was 15% of H1 equipment revenue and management expected a larger H2 mix. ASM's 25 August explainer says HBM depends on dense, vertically stacked DRAM for throughput today. Separately, its roadmap moves DRAM cells from 6F2 with planar CMOS periphery to 4F2 with FinFET periphery and later to 3D DRAM. ASM estimates the 6F2-to-4F2 step adds USD400m-450m to its ALD and Epi served market per 100,000 monthly wafer starts of capacity. Future 3D DRAM stacks the memory cells themselves vertically rather than shrinking them laterally, creating deep structures and repeated interfaces that need conformal high-k films and tighter material control. Current HBM-related sales and future 3D-DRAM cell architecture are not the same product milestone.
- Current signalH1 memory: 15% of equipment revenue · HBM-led · 4F2 SAM increment is an ASM estimate
- Why it mattersThe distinction separates what is already selling from architecture changes that could add deposition steps later.
- Q2 node, memory and service roadmap ASM International · 28 July 2026
- 3D-DRAM materials explainer ASM International · 25 August 2026
03 · Services after installation
The installed base is moving from spare parts toward defined performance outcomes
Q2 Spares & Services revenue was EUR208.7m, up 34% year on year at constant currency. Separately, Spares & Services represented 21% of H1 total revenue. ASM attributes momentum to high fab utilisation, spares demand and greater adoption of outcome-based services. Its service page describes uptime, yield and performance work spanning tool matching, drift control, productivity optimisation, AI/ML insights, automation and a PM-bot maintenance system. The mix boundary matters: outcome-based arrangements were 25% of total Spares & Services sales in 2025, up from 20% in 2024. More than 50% is ASM's target for 2030, alongside a targeted Spares & Services CAGR above 12% from 2024 to 2030; neither is a 2026 achievement.
- Current signal2025 outcome-based mix: 25% of Spares & Services sales · 2030 target: over 50% · Q2 growth: 34% at constant currency
- Why it mattersASM is trying to turn installed tools into a recurring relationship around process stability and productivity rather than parts alone.
- Q2 node, memory and service roadmap ASM International · 28 July 2026
- Outcome-based service products ASM International · Current official page
04 · What to watch
Three questions for the next disclosures
Each transition needs confirmation on its own timeline rather than one generic AI-demand signal.
- 1.4nm maturityDoes ASM report the guided initial 1.4nm contributions and later distinguish them from a move into high-volume manufacturing at the 2027 roadmap node?
- Memory architectureDoes HBM-related demand remain strong, and separately does ASM disclose customer progress toward 4F2 or 3D-DRAM applications?
- Service mixDoes the outcome-based share move beyond its 2025 level of 25% toward the 2030 target of more than 50%?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 98 | +32% | +86% | +124% |