Capital allocation policy
Find out the details of our capital allocation policy
At ASM, we have set four priorities for our capital allocation:
1. Invest to support future growth
ASM's first priority remains investing in the growth of our business, both organically – investing in capex and R&D – and also scanning the market for potential M&A opportunities.
2. Maintain a strong balance sheet
Second, it is key for us to maintain a strong balance sheet. At the Investor Day in September 2025, we communicated our goal of maintaining a minimum cash position of €800 million.
3. Sustainable dividend payments
Third, we are committed to paying a sustainable dividend.
4. Return of excess cash to shareholders through share buybacks
Finally, our policy regarding excess cash is unchanged: we continue to return excess cash to our shareholders.