Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In this edition: • AkzoNobel | 4Q24 shows a mixed picture; some bright spots ahead • ASML Holding | reiterates FY25 and long-term outlook / record quarterly FCF • InPost | AliExpress survey shows Polish shoppers are looking for 'engaging experiences'</li></ul>

In this edition: • AkzoNobel | 4Q24 shows a mixed picture; some bright spots ahead • ASML Holding | reiterates FY25 and long-term outlook / record quarterly FCF • InPost | AliExpress survey shows Polish shoppers are looking for 'engaging experiences'

What's New(s) in Amsterdam - 29 January (AkzoNobel | ASML Holding | | InPost)

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>ASML's total shareholder return is lagging behind its semicap peers and TSMC</li><li>The company's share price recently experienced a significant two-day drop</li><li>Despite past reservations, the author sees potential for a good risk/reward opportunity in buying ASML stock due to better pricing and negative investor sentiment on lithography</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

ASML's total shareholder return is lagging behind its semicap peers and TSMCThe company's share price recently experienced a significant two-day dropDespite past reservations, the author sees potential for a good risk/reward opportunity in buying ASML stock due to better pricing and negative investor sentiment on lithographyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Asml Holding Nv (ASML) - Wednesday, Oct 16, 2024

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>ASML CEO and delegation to visit TSMC, showcasing collaboration in semiconductor industry</li><li>US adds 13 firms, majority Chinese, to entity list amid ongoing tensions</li><li>Samsung Display to unveil 18.1-inch foldable OLED panel at CES 2025, showcasing advancements in display technology</li></ul>

ASML CEO and delegation to visit TSMC, showcasing collaboration in semiconductor industryUS adds 13 firms, majority Chinese, to entity list amid ongoing tensionsSamsung Display to unveil 18.1-inch foldable OLED panel at CES 2025, showcasing advancements in display technology

Tech Supply Chain Tracker (07-Jan-2025): ASML CEO visits TSMC next week.

Technology / Semiconductor / Internet Research

Nicolas Baratte

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC cash dividend has increased by 65% in 2 years or NT$2.75 in 4Q22 to NT$4.50 in 3Q24. It will keep increasing.</li>
<li>TSMC is spinning cash. 2nm-16A could increase Capex intensity but still we estimate that quarterly dividend can increase to NT$5.50 in 2025 and NT$6.00 in 2026.</li>
<li>Consensus forecasts similar EPS growth for TSMC and ASML: 30% in 2025, 20% in 2026. TSMC is 50% cheaper than ASML. 2025 PEx: TSMC 18x and ASML 28x.</li>
</ul>


TSMC cash dividend has increased by 65% in 2 years or NT$2.75 in 4Q22 to NT$4.50 in 3Q24. It will keep increasing.
TSMC is spinning cash. 2nm-16A could increase Capex intensity but still we estimate that quarterly dividend can increase to NT$5.50 in 2025 and NT$6.00 in 2026.
Consensus forecasts similar EPS growth for TSMC and ASML: 30% in 2025, 20% in 2026. TSMC is 50% cheaper than ASML. 2025 PEx: TSMC 18x and ASML 28x.


TSMC Has Increased Its Dividend. Again. It Will Keep Increasing.

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>August's WSTS semiconductor revenues registered a record high of more than $53 billion</li>
<li>Nobody seemed to notice, including the organization making the announcement</li>
<li>There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales</li>
</ul>


August's WSTS semiconductor revenues registered a record high of more than $53 billion
Nobody seemed to notice, including the organization making the announcement
There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales


Semis Just Broke a Record.  Why Did Nobody Notice?

Netherlands

ASML Holding N.V. develops, produces, and markets semiconductor manufacturing equipment, specifically machines for the production of chips through lithography. The Company services clients world wide.

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ASML Holding NV (ASML NA)

What's New(s) in Amsterdam - 29 January (AkzoNobel | ASML Holding | | InPost)

In this edition: • AkzoNobel | 4Q24 shows a mixed picture; some bright spots ahead • ASML Holding | reiterates FY25 and long-term outlook /...

The IDEA!

Asml Holding Nv (ASML) - Wednesday, Oct 16, 2024

ASML's total shareholder return is lagging behind its semicap peers and TSMC. The company's share price recently experienced a significant two-day...

Value Investors Club (VIC)

Tech Supply Chain Tracker (07-Jan-2025): ASML CEO visits TSMC next week.

ASML CEO to visit TSMC, US adds Chinese firms to entity list, AI predicted to dominate semiconductor market by 2030, Samsung Display to showcase...

Tech Supply Chain Tracker

TSMC Has Increased Its Dividend. Again. It Will Keep Increasing.

TSMC's cash dividend has surged by 65% in 2 years and is expected to keep increasing. Consensus forecasts show TSMC's EPS growth matching ASML's,...

Nicolas Baratte

Semis Just Broke a Record. Why Did Nobody Notice?

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

What's New(s) in Amsterdam - 29 January (AkzoNobel | ASML Holding | | InPost)

In this edition: • AkzoNobel | 4Q24 shows a mixed picture; some bright spots ahead • ASML Holding | reiterates FY25 and long-term outlook /...

The IDEA!

Asml Holding Nv (ASML) - Wednesday, Oct 16, 2024

ASML's total shareholder return is lagging behind its semicap peers and TSMC. The company's share price recently experienced a significant two-day...

Value Investors Club (VIC)

Tech Supply Chain Tracker (07-Jan-2025): ASML CEO visits TSMC next week.

ASML CEO to visit TSMC, US adds Chinese firms to entity list, AI predicted to dominate semiconductor market by 2030, Samsung Display to showcase...

Tech Supply Chain Tracker

TSMC Has Increased Its Dividend. Again. It Will Keep Increasing.

​TSMC's cash dividend has surged by 65% in 2 years and is expected to keep increasing. Consensus forecasts show TSMC's EPS growth matching ASML's,...

Nicolas Baratte

Semis Just Broke a Record. Why Did Nobody Notice?

​August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

TSMC's cash dividend has surged by 65% in 2 years and is expected to keep increasing. Consensus forecasts show TSMC's EPS growth matching ASML's,...

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...