ASML HOLDING NV (ASML.AS) Fundamental Analysis & Valuation

AMS:ASML • NL0010273215

Current stock price

1161 EUR
-26.6 (-2.24%)
Last:

This ASML.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. ASML.AS Profitability Analysis

1.1 Basic Checks

  • ASML had positive earnings in the past year.
  • ASML had a positive operating cash flow in the past year.
  • Each year in the past 5 years ASML has been profitable.
  • 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 84.48% of its industry peers.
  • ASML has a better Return On Equity (49.00%) than 89.66% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 35.18%, ASML belongs to the top of the industry, outperforming 89.66% 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 14.98%.
  • 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

  • ASML's Profit Margin of 29.42% is fine compared to the rest of the industry. ASML outperforms 79.31% of its industry peers.
  • ASML's Profit Margin has improved in the last couple of years.
  • The Operating Margin of ASML (34.60%) is better than 82.76% of its industry peers.
  • In the last couple of years the Operating Margin of ASML has grown nicely.
  • ASML has a Gross Margin of 52.83%. This is in the better half of the industry: ASML outperforms 60.34% 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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5

2. ASML.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ASML is creating value.
  • Compared to 1 year ago, ASML has an improved debt to assets ratio.
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

  • ASML has a debt to FCF ratio of 0.25. This is a very positive value and a sign of high solvency as it would only need 0.25 years to pay back of all of its debts.
  • ASML has a better Debt to FCF ratio (0.25) than 86.21% of its industry peers.
  • ASML has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.
  • With a decent Debt to Equity ratio value of 0.14, ASML is doing good in the industry, outperforming 63.79% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 0.25
Altman-Z N/A
ROIC/WACC3.16
WACC11.12%
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

  • ASML has a Current Ratio of 1.26. This is a normal value and indicates that ASML is financially healthy and should not expect problems in meeting 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 93.10% 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.
  • Looking at the Quick ratio, with a value of 0.79, ASML is doing worse than 91.38% of the companies in the same industry.
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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7

3. ASML.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 28.48% over the past year.
  • ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.86% yearly.
  • ASML shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.58%.
  • Measured over the past years, ASML shows a quite strong growth in Revenue. The Revenue has been growing by 18.50% on average per year.
EPS 1Y (TTM)28.48%
EPS 3Y20.41%
EPS 5Y23.86%
EPS Q2Q%7.31%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%4.92%

3.2 Future

  • Based on estimates for the next years, ASML will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.85% on average per year.
  • ASML is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.07% yearly.
EPS Next Y22.09%
EPS Next 2Y25.89%
EPS Next 3Y22.66%
EPS Next 5Y19.85%
Revenue Next Year14.6%
Revenue Next 2Y16.28%
Revenue Next 3Y14.55%
Revenue Next 5Y13.07%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of 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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2

4. ASML.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • ASML is valuated quite expensively with a Price/Earnings ratio of 46.97.
  • ASML's Price/Earnings ratio is a bit more expensive when compared to the industry. ASML is more expensive than 62.07% of the companies in the same industry.
  • ASML is valuated expensively when we compare the Price/Earnings ratio to 25.60, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 38.47, ASML can be considered very expensive at the moment.
  • Based on the Price/Forward Earnings ratio, ASML is valued a bit more expensive than 70.69% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.84, ASML is valued quite expensively.
Industry RankSector Rank
PE 46.97
Fwd PE 38.47
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 the industry average as 68.97% of the companies are valued more cheaply.
  • Based on the Price/Free Cash Flow ratio, ASML is valued a bit cheaper than the industry average as 72.41% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 40.87
EV/EBITDA 35.66
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.
  • A more expensive valuation may be justified as ASML's earnings are expected to grow with 22.66% in the coming years.
PEG (NY)2.13
PEG (5Y)1.97
EPS Next 2Y25.89%
EPS Next 3Y22.66%

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4

5. ASML.AS Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.64%, ASML is not a good candidate for dividend investing.
  • ASML's Dividend Yield is comparable with the industry average which is at 0.78.
  • With a Dividend Yield of 0.64, ASML pays less dividend than the S&P500 average, which is at 1.88.
Industry RankSector Rank
Dividend Yield 0.64%

5.2 History

  • The dividend of ASML is nicely growing with an annual growth rate of 14.78%!
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

  • 26.54% of the earnings are spent on dividend by ASML. This is a low number and sustainable payout ratio.
  • ASML's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP26.54%
EPS Next 2Y25.89%
EPS Next 3Y22.66%
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

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ASML.AS Fundamentals: All Metrics, Ratios and Statistics

ASML HOLDING NV

AMS:ASML (4/2/2026, 7:00:00 PM)

1161

-26.6 (-2.24%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-28
Earnings (Next)04-15
Inst Owners44.32%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap450.64B
Revenue(TTM)32.67B
Net Income(TTM)9.61B
Analysts78.1
Price Target1398.33 (20.44%)
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)-3.12%
Min EPS beat(2)-4.81%
Max EPS beat(2)-1.44%
EPS beat(4)2
Avg EPS beat(4)1.71%
Min EPS beat(4)-4.81%
Max EPS beat(4)11.23%
EPS beat(8)5
Avg EPS beat(8)3.9%
EPS beat(12)9
Avg EPS beat(12)5.26%
EPS beat(16)13
Avg EPS beat(16)6.06%
Revenue beat(2)0
Avg Revenue beat(2)-3.17%
Min Revenue beat(2)-5.4%
Max Revenue beat(2)-0.95%
Revenue beat(4)1
Avg Revenue beat(4)-2.28%
Min Revenue beat(4)-5.4%
Max Revenue beat(4)0.27%
Revenue beat(8)4
Avg Revenue beat(8)-1.08%
Revenue beat(12)7
Avg Revenue beat(12)-0.26%
Revenue beat(16)10
Avg Revenue beat(16)0.11%
PT rev (1m)0.51%
PT rev (3m)40.34%
EPS NQ rev (1m)0%
EPS NQ rev (3m)18.88%
EPS NY rev (1m)10.44%
EPS NY rev (3m)13.65%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)11.12%
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)9.8%
Valuation
Industry RankSector Rank
PE 46.97
Fwd PE 38.47
P/S 13.79
P/FCF 40.87
P/OCF 35.6
P/B 22.98
P/tB 31.11
EV/EBITDA 35.66
EPS(TTM)24.72
EY2.13%
EPS(NY)30.18
Fwd EY2.6%
FCF(TTM)28.41
FCFY2.45%
OCF(TTM)32.61
OCFY2.81%
SpS84.16
BVpS50.53
TBVpS37.31
PEG (NY)2.13
PEG (5Y)1.97
Graham Number167.64
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
WACC11.12%
ROIC/WACC3.16
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)28.48%
EPS 3Y20.41%
EPS 5Y23.86%
EPS Q2Q%7.31%
EPS Next Y22.09%
EPS Next 2Y25.89%
EPS Next 3Y22.66%
EPS Next 5Y19.85%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%4.92%
Revenue Next Year14.6%
Revenue Next 2Y16.28%
Revenue Next 3Y14.55%
Revenue Next 5Y13.07%
EBIT growth 1Y-10.34%
EBIT growth 3Y20.24%
EBIT growth 5Y22.77%
EBIT Next Year28.54%
EBIT Next 3Y23.46%
EBIT Next 5Y19.34%
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 Fundamental Analysis 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.


Can you provide the profitability details for ASML HOLDING NV?

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


What are the PE and PB ratios of ASML HOLDING NV (ASML.AS) stock?

The Price/Earnings (PE) ratio for ASML HOLDING NV (ASML.AS) is 46.97 and the Price/Book (PB) ratio is 22.98.


Can you provide the dividend sustainability for ASML stock?

The dividend rating of ASML HOLDING NV (ASML.AS) is 4 / 10 and the dividend payout ratio is 26.54%.