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

AMS:ASML • NL0010273215

Current stock price

1113.8 EUR
-47.2 (-4.07%)
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.
  • ASML had positive earnings in each of the past 5 years.
  • In the past 5 years ASML always reported a positive cash flow from operatings.
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 81.97% of its industry peers.
  • Looking at the Return On Equity, with a value of 49.00%, ASML belongs to the top of the industry, outperforming 88.52% of the companies in the same industry.
  • ASML has a Return On Invested Capital of 35.18%. This is amongst the best in the industry. ASML outperforms 88.52% of its industry peers.
  • ASML had an Average Return On Invested Capital over the past 3 years of 30.78%. This is significantly above the industry average of 15.39%.
  • 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 has a Profit Margin of 29.42%. This is in the better half of the industry: ASML outperforms 78.69% of its industry peers.
  • ASML's Profit Margin has improved in the last couple of years.
  • ASML's Operating Margin of 34.60% is amongst the best of the industry. ASML outperforms 81.97% 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 60.66% 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 85.25% 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 63.93% 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.
  • The Current ratio of ASML (1.26) is worse than 91.80% of its industry peers.
  • A Quick Ratio of 0.79 indicates that ASML may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.79, ASML is not doing good in the industry: 90.16% of the companies in the same industry are doing better.
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.
  • Measured over the past years, ASML shows a very strong growth in Earnings Per Share. The EPS has been growing by 23.86% on average per year.
  • ASML shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.58%.
  • 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)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

  • The Earnings Per Share is expected to grow by 19.85% on average over the next years. This is quite good.
  • Based on estimates for the next years, ASML will show a quite strong growth in Revenue. The Revenue will grow by 13.07% on average per year.
EPS Next Y22.09%
EPS Next 2Y25.89%
EPS Next 3Y22.66%
EPS Next 5Y19.85%
Revenue Next Year14.94%
Revenue Next 2Y16.69%
Revenue Next 3Y14.52%
Revenue Next 5Y13.07%

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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3

4. ASML.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 45.06, the valuation of ASML can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of ASML is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 26.21. ASML is valued rather expensively when compared to this.
  • With a Price/Forward Earnings ratio of 36.90, ASML can be considered very expensive at the moment.
  • ASML's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. ASML is more expensive than 67.21% of the companies in the same industry.
  • ASML's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.13.
Industry RankSector Rank
PE 45.06
Fwd PE 36.9
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

  • 65.57% of the companies in the same industry are cheaper than ASML, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, ASML is valued a bit cheaper than 75.41% of the companies in the same industry.
Industry RankSector Rank
P/FCF 39.2
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.
  • ASML has an outstanding profitability rating, which 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)2.04
PEG (5Y)1.89
EPS Next 2Y25.89%
EPS Next 3Y22.66%

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

5

5. ASML.AS Dividend Analysis

5.1 Amount

  • ASML has a yearly dividend return of 0.65%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.65, ASML pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.89, ASML's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.65%

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 Years2
Div Non Decr Years2
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 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 (4/7/2026, 5:39:34 PM)

1113.8

-47.2 (-4.07%)

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 Cap432.32B
Revenue(TTM)32.67B
Net Income(TTM)9.61B
Analysts78.57
Price Target1398.33 (25.55%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.65%
Yearly Dividend6.28
Dividend Growth(5Y)14.78%
DP26.54%
Div Incr Years2
Div Non Decr Years2
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)-0.01%
EPS NQ rev (3m)18.87%
EPS NY rev (1m)0%
EPS NY rev (3m)13.65%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)11.15%
Revenue NY rev (1m)0.29%
Revenue NY rev (3m)10.12%
Valuation
Industry RankSector Rank
PE 45.06
Fwd PE 36.9
P/S 13.23
P/FCF 39.2
P/OCF 34.15
P/B 22.04
P/tB 29.85
EV/EBITDA 35.66
EPS(TTM)24.72
EY2.22%
EPS(NY)30.18
Fwd EY2.71%
FCF(TTM)28.41
FCFY2.55%
OCF(TTM)32.61
OCFY2.93%
SpS84.16
BVpS50.53
TBVpS37.31
PEG (NY)2.04
PEG (5Y)1.89
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
WACC11.07%
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)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 Year14.94%
Revenue Next 2Y16.69%
Revenue Next 3Y14.52%
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 3 / 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 45.06 and the Price/Book (PB) ratio is 22.04.


Can you provide the dividend sustainability for ASML stock?

The dividend rating of ASML HOLDING NV (ASML.AS) is 5 / 10 and the dividend payout ratio is 26.54%.