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

BIT:1ASML - Borsa Italiana Milan - NL0010273215 - Common Stock - Currency: EUR

707.4  -0.7 (-0.1%)

Fundamental Rating

5

Taking everything into account, 1ASML scores 5 out of 10 in our fundamental rating. 1ASML was compared to 56 industry peers in the Semiconductors & Semiconductor Equipment industry. 1ASML has an excellent profitability rating, but 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.
1ASML had positive earnings in 4 of the past 5 years.
Of the past 5 years 1ASML 4 years had a positive operating cash flow.
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 Return On Assets of 16.75%. This is in the better half of the industry: 1ASML outperforms 73.21% of its industry peers.
Looking at the Return On Equity, with a value of 41.56%, 1ASML belongs to the top of the industry, outperforming 89.29% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 25.97%, 1ASML belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for 1ASML is significantly above the industry average of 16.97%.
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

The Profit Margin of 1ASML (29.16%) is better than 89.29% of its industry peers.
In the last couple of years the Profit Margin of 1ASML has grown nicely.
With an excellent Operating Margin value of 34.01%, 1ASML belongs to the best of the industry, outperforming 83.93% of the companies in the same industry.
1ASML's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 50.63%, 1ASML is doing good in the industry, outperforming 67.86% of the companies in the same industry.
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.
1ASML has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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 8.45 indicates that 1ASML is not in any danger for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 8.45, 1ASML belongs to the top of the industry, outperforming 82.14% of the companies in the same industry.
1ASML has a debt to FCF ratio of 1.54. This is a very positive value and a sign of high solvency as it would only need 1.54 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.54, 1ASML is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
1ASML has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of 1ASML (0.26) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 1.54
Altman-Z 8.45
ROIC/WACC2.24
WACC11.6%
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

1ASML has a Current Ratio of 1.50. This is a normal value and indicates that 1ASML is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of 1ASML (1.50) is worse than 78.57% of its industry peers.
1ASML has a Quick Ratio of 1.50. This is a bad value and indicates that 1ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
1ASML has a worse Quick ratio (0.82) than 82.14% of its industry peers.
1ASML does not score too well on the current and quick ratio evaluation. However, as it has 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 -2.38% in the last year.
The Earnings Per Share has been growing by 25.85% on average over the past years. This is a very strong growth
EPS 1Y (TTM)-2.38%
EPS 3Y10.58%
EPS 5Y25.85%
EPS Q2Q%34.95%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%31.26%

3.2 Future

The Earnings Per Share is expected to grow by 18.52% on average over the next years. This is quite good.
Based on estimates for the next years, 1ASML will show a quite strong growth in Revenue. The Revenue will grow by 12.61% on average per year.
EPS Next Y21.83%
EPS Next 2Y22.88%
EPS Next 3Y23.82%
EPS Next 5Y18.52%
Revenue Next Year14.42%
Revenue Next 2Y13.96%
Revenue Next 3Y13.84%
Revenue Next 5Y12.61%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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

A Price/Earnings ratio of 36.43 indicates a quite expensive valuation of 1ASML.
Compared to the rest of the industry, the Price/Earnings ratio of 1ASML indicates a slightly more expensive valuation: 1ASML is more expensive than 60.71% of the companies listed in the same industry.
1ASML is valuated rather expensively when we compare the Price/Earnings ratio to 28.58, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 29.90, the valuation of 1ASML can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of 1ASML indicates a slightly more expensive valuation: 1ASML is more expensive than 66.07% of the companies listed in the same industry.
1ASML's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 95.03.
Industry RankSector Rank
PE 36.43
Fwd PE 29.9
1ASML.MI Price Earnings VS Forward Price Earnings1ASML.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, 1ASML is valued a bit more expensive than 67.86% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, 1ASML is valued a bit more expensive than the industry average as 62.50% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 94.47
EV/EBITDA 29.11
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.
The excellent profitability rating of 1ASML may justify a higher PE ratio.
1ASML's earnings are expected to grow with 23.82% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.67
PEG (5Y)1.41
EPS Next 2Y22.88%
EPS Next 3Y23.82%

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4

5. Dividend

5.1 Amount

With a yearly dividend of 0.91%, 1ASML is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 1.49, 1ASML pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.28, 1ASML's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.91%

5.2 History

On average, the dividend of 1ASML grows each year by 33.46%, which is quite nice.
Dividend Growth(5Y)33.46%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

32.36% of the earnings are spent on dividend by 1ASML. This is a low number and sustainable payout ratio.
1ASML's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.36%
EPS Next 2Y22.88%
EPS Next 3Y23.82%
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 (2/5/2025, 7:00:00 PM)

707.4

-0.7 (-0.1%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-29 2025-01-29/bmo
Earnings (Next)N/A N/A
Inst Owners52.27%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap282.66B
Analysts80
Price Target859.32 (21.48%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.91%
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)0.28%
PT rev (3m)-2.09%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.28%
EPS NY rev (3m)0.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.04%
Valuation
Industry RankSector Rank
PE 36.43
Fwd PE 29.9
P/S 11.11
P/FCF 94.47
P/OCF 46.15
P/B 15.83
P/tB 31.7
EV/EBITDA 29.11
EPS(TTM)19.42
EY2.75%
EPS(NY)23.66
Fwd EY3.34%
FCF(TTM)7.49
FCFY1.06%
OCF(TTM)15.33
OCFY2.17%
SpS63.67
BVpS44.68
TBVpS22.32
PEG (NY)1.67
PEG (5Y)1.41
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 8.45
F-Score6
WACC11.6%
ROIC/WACC2.24
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)-2.38%
EPS 3Y10.58%
EPS 5Y25.85%
EPS Q2Q%34.95%
EPS Next Y21.83%
EPS Next 2Y22.88%
EPS Next 3Y23.82%
EPS Next 5Y18.52%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%31.26%
Revenue Next Year14.42%
Revenue Next 2Y13.96%
Revenue Next 3Y13.84%
Revenue Next 5Y12.61%
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%