ASML HOLDING NV (ASML.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:ASML • NL0010273215

1224.8 EUR
+9.2 (+0.76%)
Last: Feb 2, 2026, 07:00 PM
Fundamental Rating

6

Overall ASML gets a fundamental rating of 6 out of 10. We evaluated ASML against 63 industry peers in the Semiconductors & Semiconductor Equipment industry. ASML scores excellent points on both the profitability and health parts. This is a solid base for a good stock. ASML is quite expensive at the moment. It does show a decent growth rate. This makes ASML very considerable for quality investing!


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year ASML was profitable.
  • In the past year ASML had a positive cash flow from operations.
  • Of the past 5 years ASML 4 years were profitable.
  • Of the past 5 years ASML 4 years 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 2B 4B 6B 8B 10B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 20.71%, ASML belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
  • ASML's Return On Equity of 47.39% is amongst the best of the industry. ASML outperforms 88.89% of its industry peers.
  • ASML has a Return On Invested Capital of 32.62%. This is amongst the best in the industry. ASML outperforms 88.89% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ASML is significantly above the industry average of 15.01%.
  • The 3 year average ROIC (27.67%) for ASML is below the current ROIC(32.62%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 20.71%
ROE 47.39%
ROIC 32.62%
ROA(3y)17.06%
ROA(5y)16.62%
ROE(3y)48.22%
ROE(5y)44.12%
ROIC(3y)27.67%
ROIC(5y)25.41%
ASML.AS Yearly ROA, ROE, ROICASML.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

1.3 Margins

  • ASML's Profit Margin of 31.73% is amongst the best of the industry. ASML outperforms 85.71% of its industry peers.
  • In the last couple of years the Profit Margin of ASML has grown nicely.
  • Looking at the Operating Margin, with a value of 37.74%, ASML belongs to the top of the industry, outperforming 87.30% of the companies in the same industry.
  • In the last couple of years the Operating Margin of ASML has grown nicely.
  • Looking at the Gross Margin, with a value of 51.93%, ASML is in the better half of the industry, outperforming 65.08% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ASML has grown nicely.
Industry RankSector Rank
OM 37.74%
PM (TTM) 31.73%
GM 51.93%
OM growth 3Y-1.42%
OM growth 5Y8.87%
PM growth 3Y-3.59%
PM growth 5Y6.23%
GM growth 3Y-0.04%
GM growth 5Y4.04%
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 10 20 30 40 50

More info and screens

7

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 no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
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 10B 20B 30B 40B 50B

2.2 Solvency

  • ASML has an Altman-Z score of 12.47. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 12.47, ASML is in the better half of the industry, outperforming 76.19% of the companies in the same industry.
  • The Debt to FCF ratio of ASML is 0.51, which is an excellent value as it means it would take ASML, only 0.51 years of fcf income to pay off all of its debts.
  • ASML has a Debt to FCF ratio of 0.51. This is amongst the best in the industry. ASML outperforms 84.13% of its industry peers.
  • ASML has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
  • ASML has a Debt to Equity ratio (0.17) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 0.51
Altman-Z 12.47
ROIC/WACC3.03
WACC10.77%
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 5B 10B 15B 20B

2.3 Liquidity

  • ASML has a Current Ratio of 1.41. This is a normal value and indicates that ASML is financially healthy and should not expect problems in meeting its short term obligations.
  • ASML has a worse Current ratio (1.41) than 92.06% of its industry peers.
  • A Quick Ratio of 0.79 indicates that ASML may have some problems paying its short term obligations.
  • The Quick ratio of ASML (0.79) is worse than 90.48% of its industry peers.
  • The current and quick ratio evaluation for ASML 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 1.41
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 10B 20B 30B

More info and screens

5

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.
  • The Earnings Per Share has been growing by 23.66% on average over the past years. This is a very strong growth
EPS 1Y (TTM)27.44%
EPS 3Y20.08%
EPS 5Y23.66%
EPS Q2Q%4.39%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%1.88%

3.2 Future

  • The Earnings Per Share is expected to grow by 17.17% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 10.80% on average over the next years. This is quite good.
EPS Next Y11.45%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
EPS Next 5Y17.17%
Revenue Next Year4.75%
Revenue Next 2Y9.75%
Revenue Next 3Y9.98%
Revenue Next 5Y10.8%

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.
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

More info and screens

2

4. Valuation

4.1 Price/Earnings Ratio

  • ASML is valuated quite expensively with a Price/Earnings ratio of 49.95.
  • Based on the Price/Earnings ratio, ASML is valued a bit more expensive than 60.32% of the companies in the same industry.
  • ASML is valuated expensively when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 44.82 indicates a quite expensive valuation of ASML.
  • Based on the Price/Forward Earnings ratio, ASML is valued a bit more expensive than the industry average as 76.19% of the companies are valued more cheaply.
  • The average S&P500 Price/Forward Earnings ratio is at 25.64. ASML is valued rather expensively when compared to this.
Industry RankSector Rank
PE 49.95
Fwd PE 44.82
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 66.67% of the companies are valued more cheaply.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 51.12
EV/EBITDA 35.09
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 an expensive valuation of the company.
  • ASML has an outstanding profitability rating, which 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)4.36
PEG (5Y)2.11
EPS Next 2Y18.51%
EPS Next 3Y16.04%

More info and screens

4

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.63%, ASML is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.78, ASML pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 0.63, ASML pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 0.63%

5.2 History

  • On average, the dividend of ASML grows each year by 14.61%, which is quite nice.
Dividend Growth(5Y)14.61%
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 24.55% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of ASML is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP24.55%
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 2B 4B 6B 8B
ASML.AS Dividend Payout.ASML.AS Dividend Payout, showing the Payout Ratio.ASML.AS Dividend Payout.PayoutRetained Earnings

More info and screens

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 49.95 and the Price/Book (PB) ratio is 22.08.


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.