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ASML HOLDING NV (1ASML.MI) Stock Fundamental Analysis

BIT:1ASML - Euronext Milan - NL0010273215 - Common Stock - Currency: EUR

672.6  -2.4 (-0.36%)

Fundamental Rating

5

Overall 1ASML gets a fundamental rating of 5 out of 10. We evaluated 1ASML against 58 industry peers in the Semiconductors & Semiconductor Equipment industry. While 1ASML has a great profitability rating, there are some minor concerns on its financial health. 1ASML is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

1ASML had positive earnings in the past year.
1ASML had a positive operating cash flow in the past year.
Of the past 5 years 1ASML 4 years were profitable.
1ASML had a positive operating cash flow in 4 of the past 5 years.
1ASML.MI Yearly Net Income VS EBIT VS OCF VS FCF1ASML.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

1.2 Ratios

1ASML has a better Return On Assets (16.75%) than 74.14% of its industry peers.
1ASML has a better Return On Equity (41.56%) than 87.93% of its industry peers.
With an excellent Return On Invested Capital value of 25.97%, 1ASML belongs to the best of the industry, outperforming 86.21% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for 1ASML is significantly above the industry average of 16.14%.
Industry RankSector Rank
ROA 16.75%
ROE 41.56%
ROIC 25.97%
ROA(3y)18.13%
ROA(5y)15.59%
ROE(3y)52.84%
ROE(5y)40.26%
ROIC(3y)29.48%
ROIC(5y)23.28%
1ASML.MI Yearly ROA, ROE, ROIC1ASML.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

1.3 Margins

1ASML has a better Profit Margin (29.16%) than 82.76% of its industry peers.
1ASML's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 34.01%, 1ASML belongs to the best of the industry, outperforming 87.93% of the companies in the same industry.
In the last couple of years the Operating Margin of 1ASML has grown nicely.
The Gross Margin of 1ASML (50.63%) is better than 70.69% of its industry peers.
1ASML's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 34.01%
PM (TTM) 29.16%
GM 50.63%
OM growth 3Y4.37%
OM growth 5Y5.55%
PM growth 3Y3.65%
PM growth 5Y5%
GM growth 3Y3.14%
GM growth 5Y3%
1ASML.MI Yearly Profit, Operating, Gross Margins1ASML.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so 1ASML is creating value.
There is no outstanding debt for 1ASML. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
1ASML.MI Yearly Shares Outstanding1ASML.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M
1ASML.MI Yearly Total Debt VS Total Assets1ASML.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B 40B

2.2 Solvency

An Altman-Z score of 7.99 indicates that 1ASML is not in any danger for bankruptcy at the moment.
1ASML has a Altman-Z score of 7.99. This is in the better half of the industry: 1ASML outperforms 77.59% of its industry peers.
The Debt to FCF ratio of 1ASML is 1.54, which is an excellent value as it means it would take 1ASML, only 1.54 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of 1ASML (1.54) is better than 74.14% of its industry peers.
1ASML has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
1ASML has a Debt to Equity ratio (0.26) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 1.54
Altman-Z 7.99
ROIC/WACC2.54
WACC10.24%
1ASML.MI Yearly LT Debt VS Equity VS FCF1ASML.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.3 Liquidity

A Current Ratio of 1.50 indicates that 1ASML should not have too much problems paying its short term obligations.
1ASML's Current ratio of 1.50 is on the low side compared to the rest of the industry. 1ASML is outperformed by 79.31% of its industry peers.
A Quick Ratio of 0.82 indicates that 1ASML may have some problems paying its short term obligations.
With a Quick ratio value of 0.82, 1ASML is not doing good in the industry: 82.76% of the companies in the same industry are doing better.
The current and quick ratio evaluation for 1ASML is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.5
Quick Ratio 0.82
1ASML.MI Yearly Current Assets VS Current Liabilites1ASML.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B

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4

3. Growth

3.1 Past

The earnings per share for 1ASML have decreased by -3.27% in the last year.
1ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 25.62% yearly.
EPS 1Y (TTM)-3.27%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%31.54%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.99%

3.2 Future

Based on estimates for the next years, 1ASML will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.74% on average per year.
The Revenue is expected to grow by 12.60% on average over the next years. This is quite good.
EPS Next Y25.97%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
EPS Next 5Y18.74%
Revenue Next Year16.37%
Revenue Next 2Y14.5%
Revenue Next 3Y13.2%
Revenue Next 5Y12.6%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
1ASML.MI Yearly Revenue VS Estimates1ASML.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B
1ASML.MI Yearly EPS VS Estimates1ASML.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20 40 60

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2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 34.96, the valuation of 1ASML can be described as expensive.
Based on the Price/Earnings ratio, 1ASML is valued a bit more expensive than the industry average as 74.14% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of 1ASML to the average of the S&P500 Index (29.35), we can say 1ASML is valued inline with the index average.
1ASML is valuated quite expensively with a Price/Forward Earnings ratio of 27.75.
Based on the Price/Forward Earnings ratio, 1ASML is valued a bit more expensive than 72.41% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, 1ASML is valued a bit more expensive.
Industry RankSector Rank
PE 34.96
Fwd PE 27.75
1ASML.MI Price Earnings VS Forward Price Earnings1ASML.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

72.41% of the companies in the same industry are cheaper than 1ASML, based on the Enterprise Value to EBITDA ratio.
1ASML's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. 1ASML is more expensive than 65.52% of the companies in the same industry.
Industry RankSector Rank
P/FCF 88.53
EV/EBITDA 27.04
1ASML.MI Per share data1ASML.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
1ASML has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as 1ASML's earnings are expected to grow with 22.32% in the coming years.
PEG (NY)1.35
PEG (5Y)1.36
EPS Next 2Y23.37%
EPS Next 3Y22.32%

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4

5. Dividend

5.1 Amount

1ASML has a yearly dividend return of 0.96%, which is pretty low.
1ASML's Dividend Yield is a higher than the industry average which is at 1.50.
With a Dividend Yield of 0.96, 1ASML pays less dividend than the S&P500 average, which is at 2.33.
Industry RankSector Rank
Dividend Yield 0.96%

5.2 History

The dividend of 1ASML is nicely growing with an annual growth rate of 33.46%!
Dividend Growth(5Y)33.46%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

1ASML pays out 32.36% of its income as dividend. This is a sustainable payout ratio.
The dividend of 1ASML is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP32.36%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
1ASML.MI Yearly Income VS Free CF VS Dividend1ASML.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B
1ASML.MI Dividend Payout.1ASML.MI Dividend Payout, showing the Payout Ratio.1ASML.MI Dividend Payout.PayoutRetained Earnings

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ASML HOLDING NV

BIT:1ASML (3/6/2025, 7:00:00 PM)

672.6

-2.4 (-0.36%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-29 2025-01-29/bmo
Earnings (Next)04-16 2025-04-16/amc
Inst Owners52.38%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap264.89B
Analysts80.47
Price Target867.76 (29.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.96%
Yearly Dividend5.96
Dividend Growth(5Y)33.46%
DP32.36%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.68%
Min EPS beat(2)6.94%
Max EPS beat(2)10.42%
EPS beat(4)4
Avg EPS beat(4)6.79%
Min EPS beat(4)2.72%
Max EPS beat(4)10.42%
EPS beat(8)8
Avg EPS beat(8)8.94%
EPS beat(12)12
Avg EPS beat(12)8.68%
EPS beat(16)15
Avg EPS beat(16)10.25%
Revenue beat(2)1
Avg Revenue beat(2)-1.05%
Min Revenue beat(2)-3.8%
Max Revenue beat(2)1.71%
Revenue beat(4)2
Avg Revenue beat(4)-0.47%
Min Revenue beat(4)-3.8%
Max Revenue beat(4)2.74%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.98%
PT rev (3m)0.7%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)-0.02%
Valuation
Industry RankSector Rank
PE 34.96
Fwd PE 27.75
P/S 10.41
P/FCF 88.53
P/OCF 43.25
P/B 14.84
P/tB 29.7
EV/EBITDA 27.04
EPS(TTM)19.24
EY2.86%
EPS(NY)24.24
Fwd EY3.6%
FCF(TTM)7.6
FCFY1.13%
OCF(TTM)15.55
OCFY2.31%
SpS64.6
BVpS45.33
TBVpS22.64
PEG (NY)1.35
PEG (5Y)1.36
Profitability
Industry RankSector Rank
ROA 16.75%
ROE 41.56%
ROCE 30.74%
ROIC 25.97%
ROICexc 31.6%
ROICexgc 51.5%
OM 34.01%
PM (TTM) 29.16%
GM 50.63%
FCFM 11.76%
ROA(3y)18.13%
ROA(5y)15.59%
ROE(3y)52.84%
ROE(5y)40.26%
ROIC(3y)29.48%
ROIC(5y)23.28%
ROICexc(3y)44.3%
ROICexc(5y)34.53%
ROICexgc(3y)99.52%
ROICexgc(5y)75.22%
ROCE(3y)34.89%
ROCE(5y)27.56%
ROICexcg growth 3Y14.86%
ROICexcg growth 5Y14.44%
ROICexc growth 3Y19.08%
ROICexc growth 5Y18.21%
OM growth 3Y4.37%
OM growth 5Y5.55%
PM growth 3Y3.65%
PM growth 5Y5%
GM growth 3Y3.14%
GM growth 5Y3%
F-Score6
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 1.54
Debt/EBITDA 0.47
Cap/Depr 279.36%
Cap/Sales 12.31%
Interest Coverage 51.88
Cash Conversion 62.66%
Profit Quality 40.33%
Current Ratio 1.5
Quick Ratio 0.82
Altman-Z 7.99
F-Score6
WACC10.24%
ROIC/WACC2.54
Cap/Depr(3y)246.99%
Cap/Depr(5y)212.26%
Cap/Sales(3y)10.19%
Cap/Sales(5y)10.45%
Profit Quality(3y)105.74%
Profit Quality(5y)102.48%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.27%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%31.54%
EPS Next Y25.97%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
EPS Next 5Y18.74%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.99%
Revenue Next Year16.37%
Revenue Next 2Y14.5%
Revenue Next 3Y13.2%
Revenue Next 5Y12.6%
EBIT growth 1Y-4.96%
EBIT growth 3Y30.87%
EBIT growth 5Y26.96%
EBIT Next Year9.39%
EBIT Next 3Y17.64%
EBIT Next 5Y17.64%
FCF growth 1Y-67.69%
FCF growth 3Y-2.7%
FCF growth 5Y6.05%
OCF growth 1Y-44.62%
OCF growth 3Y7.19%
OCF growth 5Y14.18%