ASML HOLDING NV (ASML.AS) Stock Fundamental Analysis

AMS:ASML • NL0010273215

1255.6 EUR
+17.4 (+1.41%)
Last: Feb 20, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

Taking everything into account, ASML scores 6 out of 10 in our fundamental rating. ASML was compared to 66 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASML has a great profitability rating, there are some minor concerns on its financial health. ASML shows excellent growth, but is valued quite expensive already. These ratings would make ASML suitable for growth investing!


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year ASML was profitable.
  • ASML had a positive operating cash flow in the past year.
  • ASML had positive earnings in each of the past 5 years.
  • Each year in the past 5 years ASML had a positive operating cash flow.
ASML.AS Yearly Net Income VS EBIT VS OCF VS FCFASML.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

1.2 Ratios

  • ASML's Return On Assets of 19.00% is amongst the best of the industry. ASML outperforms 87.88% of its industry peers.
  • ASML has a better Return On Equity (49.00%) than 92.42% of its industry peers.
  • With an excellent Return On Invested Capital value of 35.18%, ASML belongs to the best of the industry, outperforming 92.42% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for ASML is significantly above the industry average of 14.33%.
  • The 3 year average ROIC (30.78%) for ASML is below the current ROIC(35.18%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 19%
ROE 49%
ROIC 35.18%
ROA(3y)18.07%
ROA(5y)17.83%
ROE(3y)49.42%
ROE(5y)54.02%
ROIC(3y)30.78%
ROIC(5y)30.25%
ASML.AS Yearly ROA, ROE, ROICASML.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

1.3 Margins

  • Looking at the Profit Margin, with a value of 29.42%, ASML belongs to the top of the industry, outperforming 86.36% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ASML has grown nicely.
  • The Operating Margin of ASML (34.60%) is better than 86.36% of its industry peers.
  • ASML's Operating Margin has improved in the last couple of years.
  • ASML has a better Gross Margin (52.83%) than 66.67% of its industry peers.
  • ASML's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 34.6%
PM (TTM) 29.42%
GM 52.83%
OM growth 3Y4.06%
OM growth 5Y3.6%
PM growth 3Y3.46%
PM growth 5Y2.96%
GM growth 3Y1.49%
GM growth 5Y1.67%
ASML.AS Yearly Profit, Operating, Gross MarginsASML.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ASML is creating value.
  • ASML has a better debt/assets ratio than last year.
ASML.AS Yearly Shares OutstandingASML.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
ASML.AS Yearly Total Debt VS Total AssetsASML.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • The Debt to FCF ratio of ASML is 0.25, which is an excellent value as it means it would take ASML, only 0.25 years of fcf income to pay off all of its debts.
  • ASML has a better Debt to FCF ratio (0.25) than 89.39% of its industry peers.
  • A Debt/Equity ratio of 0.14 indicates that ASML is not too dependend on debt financing.
  • ASML has a Debt to Equity ratio of 0.14. This is in the better half of the industry: ASML outperforms 69.70% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 0.25
Altman-Z N/A
ROIC/WACC3.18
WACC11.07%
ASML.AS Yearly LT Debt VS Equity VS FCFASML.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 1.26 indicates that ASML should not have too much problems paying its short term obligations.
  • ASML's Current ratio of 1.26 is on the low side compared to the rest of the industry. ASML is outperformed by 92.42% of its industry peers.
  • ASML has a Quick Ratio of 1.26. This is a bad value and indicates that ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
  • ASML has a Quick ratio of 0.79. This is amonst the worse of the industry: ASML underperforms 90.91% of its industry peers.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 0.79
ASML.AS Yearly Current Assets VS Current LiabilitesASML.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • ASML shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 27.44%, which is quite impressive.
  • ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.66% yearly.
  • The Revenue has grown by 15.58% in the past year. This is quite good.
  • ASML shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 18.50% yearly.
EPS 1Y (TTM)27.44%
EPS 3Y20.08%
EPS 5Y23.66%
EPS Q2Q%4.39%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%1.88%

3.2 Future

  • ASML is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.57% yearly.
  • ASML is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.74% yearly.
EPS Next Y11.45%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
EPS Next 5Y19.57%
Revenue Next Year4.75%
Revenue Next 2Y9.75%
Revenue Next 3Y9.98%
Revenue Next 5Y12.74%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
ASML.AS Yearly Revenue VS EstimatesASML.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B
ASML.AS Yearly EPS VS EstimatesASML.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20 40 60 80

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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • ASML is valuated quite expensively with a Price/Earnings ratio of 51.21.
  • Based on the Price/Earnings ratio, ASML is valued a bit more expensive than 69.70% of the companies in the same industry.
  • ASML is valuated expensively when we compare the Price/Earnings ratio to 27.09, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 45.95 indicates a quite expensive valuation of ASML.
  • Based on the Price/Forward Earnings ratio, ASML is valued a bit more expensive than 74.24% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.98, ASML is valued quite expensively.
Industry RankSector Rank
PE 51.21
Fwd PE 45.95
ASML.AS Price Earnings VS Forward Price EarningsASML.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ASML is valued a bit more expensive than 69.70% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML indicates a somewhat cheap valuation: ASML is cheaper than 74.24% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 44.2
EV/EBITDA 38.09
ASML.AS Per share dataASML.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ASML does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of ASML may justify a higher PE ratio.
  • ASML's earnings are expected to grow with 16.04% in the coming years. This may justify a more expensive valuation.
PEG (NY)4.47
PEG (5Y)2.16
EPS Next 2Y18.51%
EPS Next 3Y16.04%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • ASML has a yearly dividend return of 0.64%, which is pretty low.
  • ASML's Dividend Yield is a higher than the industry average which is at 0.76.
  • With a Dividend Yield of 0.64, ASML pays less dividend than the S&P500 average, which is at 1.85.
Industry RankSector Rank
Dividend Yield 0.64%

5.2 History

  • On average, the dividend of ASML grows each year by 14.78%, which is quite nice.
Dividend Growth(5Y)14.78%
Div Incr Years1
Div Non Decr Years1
ASML.AS Yearly Dividends per shareASML.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • ASML pays out 26.54% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of ASML is growing, but earnings are growing more, so the dividend growth is sustainable.
DP26.54%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
ASML.AS Yearly Income VS Free CF VS DividendASML.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B
ASML.AS Dividend Payout.ASML.AS Dividend Payout, showing the Payout Ratio.ASML.AS Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

ASML HOLDING NV

AMS:ASML (2/20/2026, 5:36:15 PM)

1255.6

+17.4 (+1.41%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-28
Earnings (Next)04-15
Inst Owners44.3%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap487.36B
Revenue(TTM)32.67B
Net Income(TTM)9.61B
Analysts77.62
Price Target1348.47 (7.4%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.64%
Yearly Dividend6.28
Dividend Growth(5Y)14.78%
DP26.54%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-4.33%
Min EPS beat(2)-7.23%
Max EPS beat(2)-1.44%
EPS beat(4)2
Avg EPS beat(4)1.1%
Min EPS beat(4)-7.23%
Max EPS beat(4)11.23%
EPS beat(8)5
Avg EPS beat(8)3.6%
EPS beat(12)9
Avg EPS beat(12)5.05%
EPS beat(16)13
Avg EPS beat(16)5.91%
Revenue beat(2)0
Avg Revenue beat(2)-4.95%
Min Revenue beat(2)-5.4%
Max Revenue beat(2)-4.51%
Revenue beat(4)1
Avg Revenue beat(4)-3.17%
Min Revenue beat(4)-5.4%
Max Revenue beat(4)0.27%
Revenue beat(8)4
Avg Revenue beat(8)-1.53%
Revenue beat(12)7
Avg Revenue beat(12)-0.56%
Revenue beat(16)10
Avg Revenue beat(16)-0.11%
PT rev (1m)35.34%
PT rev (3m)43.93%
EPS NQ rev (1m)8.1%
EPS NQ rev (3m)10.76%
EPS NY rev (1m)2.91%
EPS NY rev (3m)4.39%
Revenue NQ rev (1m)4.59%
Revenue NQ rev (3m)6.31%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 51.21
Fwd PE 45.95
P/S 14.92
P/FCF 44.2
P/OCF 38.5
P/B 24.85
P/tB 33.65
EV/EBITDA 38.09
EPS(TTM)24.52
EY1.95%
EPS(NY)27.33
Fwd EY2.18%
FCF(TTM)28.41
FCFY2.26%
OCF(TTM)32.61
OCFY2.6%
SpS84.16
BVpS50.53
TBVpS37.31
PEG (NY)4.47
PEG (5Y)2.16
Graham Number166.96
Profitability
Industry RankSector Rank
ROA 19%
ROE 49%
ROCE 42.97%
ROIC 35.18%
ROICexc 71.29%
ROICexgc 117.85%
OM 34.6%
PM (TTM) 29.42%
GM 52.83%
FCFM 33.76%
ROA(3y)18.07%
ROA(5y)17.83%
ROE(3y)49.42%
ROE(5y)54.02%
ROIC(3y)30.78%
ROIC(5y)30.25%
ROICexc(3y)95.08%
ROICexc(5y)81.02%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)37.59%
ROCE(5y)36.94%
ROICexgc growth 3Y-3.81%
ROICexgc growth 5Y19.89%
ROICexc growth 3Y8.04%
ROICexc growth 5Y22.14%
OM growth 3Y4.06%
OM growth 5Y3.6%
PM growth 3Y3.46%
PM growth 5Y2.96%
GM growth 3Y1.49%
GM growth 5Y1.67%
F-Score6
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 0.25
Debt/EBITDA 0.22
Cap/Depr 159%
Cap/Sales 4.99%
Interest Coverage 250
Cash Conversion 102.69%
Profit Quality 114.76%
Current Ratio 1.26
Quick Ratio 0.79
Altman-Z N/A
F-Score6
WACC11.07%
ROIC/WACC3.18
Cap/Depr(3y)227.55%
Cap/Depr(5y)221.67%
Cap/Sales(3y)6.78%
Cap/Sales(5y)6.32%
Profit Quality(3y)92.05%
Profit Quality(5y)114.39%
High Growth Momentum
Growth
EPS 1Y (TTM)27.44%
EPS 3Y20.08%
EPS 5Y23.66%
EPS Q2Q%4.39%
EPS Next Y11.45%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
EPS Next 5Y19.57%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%1.88%
Revenue Next Year4.75%
Revenue Next 2Y9.75%
Revenue Next 3Y9.98%
Revenue Next 5Y12.74%
EBIT growth 1Y-10.34%
EBIT growth 3Y20.24%
EBIT growth 5Y22.77%
EBIT Next Year14.16%
EBIT Next 3Y15.37%
EBIT Next 5Y18.94%
FCF growth 1Y21.4%
FCF growth 3Y15.44%
FCF growth 5Y24.91%
OCF growth 1Y13.36%
OCF growth 3Y14.26%
OCF growth 5Y22.29%

ASML HOLDING NV / ASML.AS FAQ

Can you provide the ChartMill fundamental rating for ASML HOLDING NV?

ChartMill assigns a fundamental rating of 6 / 10 to ASML.AS.


Can you provide the valuation status for ASML HOLDING NV?

ChartMill assigns a valuation rating of 2 / 10 to ASML HOLDING NV (ASML.AS). This can be considered as Overvalued.


How profitable is ASML HOLDING NV (ASML.AS) stock?

ASML HOLDING NV (ASML.AS) has a profitability rating of 9 / 10.


What is the valuation of ASML HOLDING NV based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ASML HOLDING NV (ASML.AS) is 51.21 and the Price/Book (PB) ratio is 24.85.


What is the earnings growth outlook for ASML HOLDING NV?

The Earnings per Share (EPS) of ASML HOLDING NV (ASML.AS) is expected to grow by 11.45% in the next year.