ASML HOLDING NV (ASML.AS) Fundamental Analysis & Valuation
AMS:ASML • NL0010273215
Current stock price
1249.6 EUR
+25.8 (+2.11%)
Last:
This ASML.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. ASML.AS Profitability Analysis
1.1 Basic Checks
- In the past year ASML was profitable.
- In the past year ASML had a positive cash flow from operations.
- In the past 5 years ASML has always been profitable.
- In the past 5 years ASML always reported a positive cash flow from operatings.
1.2 Ratios
- ASML's Return On Assets of 26.44% is amongst the best of the industry. ASML outperforms 90.77% of its industry peers.
- ASML has a Return On Equity of 60.75%. This is amongst the best in the industry. ASML outperforms 90.77% of its industry peers.
- With an excellent Return On Invested Capital value of 45.44%, ASML belongs to the best of the industry, outperforming 96.92% of the companies in the same industry.
- ASML had an Average Return On Invested Capital over the past 3 years of 28.63%. This is significantly above the industry average of 16.18%.
- The 3 year average ROIC (28.63%) for ASML is below the current ROIC(45.44%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.44% | ||
| ROE | 60.75% | ||
| ROIC | 45.44% |
ROA(3y)17.7%
ROA(5y)17.73%
ROE(3y)43.4%
ROE(5y)47.73%
ROIC(3y)28.63%
ROIC(5y)28.52%
1.3 Margins
- ASML's Profit Margin of 30.66% is amongst the best of the industry. ASML outperforms 84.62% of its industry peers.
- ASML's Profit Margin has improved in the last couple of years.
- ASML has a Operating Margin of 36.02%. This is amongst the best in the industry. ASML outperforms 87.69% of its industry peers.
- In the last couple of years the Operating Margin of ASML has grown nicely.
- The Gross Margin of ASML (52.15%) is better than 64.62% of its industry peers.
- In the last couple of years the Gross Margin of ASML has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 36.02% | ||
| PM (TTM) | 30.66% | ||
| GM | 52.15% |
OM growth 3Y2.19%
OM growth 5Y3.98%
PM growth 3Y1.15%
PM growth 5Y3.4%
GM growth 3Y1.44%
GM growth 5Y2.61%
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 less shares outstanding
- The number of shares outstanding for ASML has been reduced compared to 5 years ago.
- Compared to 1 year ago, ASML has an improved debt to assets ratio.
2.2 Solvency
- ASML has an Altman-Z score of 11.63. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
- ASML has a Altman-Z score (11.63) which is in line with its industry peers.
- The Debt to FCF ratio of ASML is 0.42, which is an excellent value as it means it would take ASML, only 0.42 years of fcf income to pay off all of its debts.
- With an excellent Debt to FCF ratio value of 0.42, ASML belongs to the best of the industry, outperforming 87.69% of the companies in the same industry.
- A Debt/Equity ratio of 0.12 indicates that ASML is not too dependend on debt financing.
- Looking at the Debt to Equity ratio, with a value of 0.12, ASML is in the better half of the industry, outperforming 67.69% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.42 | ||
| Altman-Z | 11.63 |
ROIC/WACC4.01
WACC11.33%
2.3 Liquidity
- A Current Ratio of 1.24 indicates that ASML should not have too much problems paying its short term obligations.
- ASML's Current ratio of 1.24 is on the low side compared to the rest of the industry. ASML is outperformed by 89.23% of its industry peers.
- ASML has a Quick Ratio of 1.24. 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 0.77, ASML is doing worse than 87.69% of the companies in the same industry.
- 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 Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.24 | ||
| Quick Ratio | 0.77 |
3. ASML.AS Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an nice 16.90% 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.
- Looking at the last year, ASML shows a quite strong growth in Revenue. The Revenue has grown by 15.58% in the last year.
- The Revenue has been growing by 18.50% on average over the past years. This is quite good.
EPS 1Y (TTM)16.9%
EPS 3Y20.41%
EPS 5Y23.86%
EPS Q2Q%19.17%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%13.25%
3.2 Future
- The Earnings Per Share is expected to grow by 19.85% on average over the next years. This is quite good.
- The Revenue is expected to grow by 13.07% on average over the next years. This is quite good.
EPS Next Y22.44%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
EPS Next 5Y19.85%
Revenue Next Year15.71%
Revenue Next 2Y17.59%
Revenue Next 3Y14.56%
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.
- The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. ASML.AS Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 48.30, ASML can be considered very expensive at the moment.
- Compared to the rest of the industry, the Price/Earnings ratio of ASML indicates a somewhat cheap valuation: ASML is cheaper than 64.62% of the companies listed in the same industry.
- ASML is valuated expensively when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 31.65, the valuation of ASML can be described as expensive.
- 61.54% of the companies in the same industry are more expensive than ASML, based on the Price/Forward Earnings ratio.
- ASML is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.24, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.3 | ||
| Fwd PE | 31.65 |
4.2 Price Multiples
- ASML's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. ASML is cheaper than 64.62% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, ASML is valued cheaply inside the industry as 83.08% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 43.63 | ||
| EV/EBITDA | 24.93 |
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.
- A more expensive valuation may be justified as ASML's earnings are expected to grow with 22.61% in the coming years.
PEG (NY)2.15
PEG (5Y)2.02
EPS Next 2Y26.38%
EPS Next 3Y22.61%
5. ASML.AS Dividend Analysis
5.1 Amount
- With a yearly dividend of 0.61%, ASML is not a good candidate for dividend investing.
- ASML's Dividend Yield is a higher than the industry average which is at 0.58.
- With a Dividend Yield of 0.61, ASML pays less dividend than the S&P500 average, which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.61% |
5.2 History
- On average, the dividend of ASML grows each year by 20.76%, which is quite nice.
Dividend Growth(5Y)20.76%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
- ASML pays out 17.36% of its income as dividend. This is a sustainable payout ratio.
- ASML's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP17.36%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
ASML.AS Fundamentals: All Metrics, Ratios and Statistics
AMS:ASML (4/24/2026, 7:00:00 PM)
1249.6
+25.8 (+2.11%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)04-15 2026-04-15/bmo
Earnings (Next)07-15 2026-07-15/bmo
Inst Owners45.24%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap485.03B
Revenue(TTM)32.67B
Net Income(TTM)14.69B
Analysts78.57
Price Target1405.83 (12.5%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.61% |
Yearly Dividend6.55
Dividend Growth(5Y)20.76%
DP17.36%
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)11
Avg Revenue beat(16)9.77%
PT rev (1m)1.05%
PT rev (3m)32.71%
EPS NQ rev (1m)0.99%
EPS NQ rev (3m)20.05%
EPS NY rev (1m)0.28%
EPS NY rev (3m)13.97%
Revenue NQ rev (1m)0.81%
Revenue NQ rev (3m)12.01%
Revenue NY rev (1m)0.97%
Revenue NY rev (3m)10.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 48.3 | ||
| Fwd PE | 31.65 | ||
| P/S | 10.12 | ||
| P/FCF | 43.63 | ||
| P/OCF | 35.08 | ||
| P/B | 20.06 | ||
| P/tB | 34.21 | ||
| EV/EBITDA | 24.93 |
EPS(TTM)25.87
EY2.07%
EPS(NY)39.48
Fwd EY3.16%
FCF(TTM)28.64
FCFY2.29%
OCF(TTM)35.62
OCFY2.85%
SpS123.47
BVpS62.31
TBVpS36.53
PEG (NY)2.15
PEG (5Y)2.02
Graham Number190.442 (-84.76%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.44% | ||
| ROE | 60.75% | ||
| ROCE | 55.43% | ||
| ROIC | 45.44% | ||
| ROICexc | 79.43% | ||
| ROICexgc | 181.2% | ||
| OM | 36.02% | ||
| PM (TTM) | 30.66% | ||
| GM | 52.15% | ||
| FCFM | 23.19% |
ROA(3y)17.7%
ROA(5y)17.73%
ROE(3y)43.4%
ROE(5y)47.73%
ROIC(3y)28.63%
ROIC(5y)28.52%
ROICexc(3y)45.35%
ROICexc(5y)45.13%
ROICexgc(3y)91.3%
ROICexgc(5y)98.87%
ROCE(3y)34.92%
ROCE(5y)34.79%
ROICexgc growth 3Y6.72%
ROICexgc growth 5Y22.57%
ROICexc growth 3Y8.15%
ROICexc growth 5Y18.91%
OM growth 3Y2.19%
OM growth 5Y3.98%
PM growth 3Y1.15%
PM growth 5Y3.4%
GM growth 3Y1.44%
GM growth 5Y2.61%
F-Score7
Asset Turnover0.86
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.42 | ||
| Debt/EBITDA | 0.16 | ||
| Cap/Depr | 189.17% | ||
| Cap/Sales | 5.66% | ||
| Interest Coverage | 150.75 | ||
| Cash Conversion | 73.97% | ||
| Profit Quality | 75.66% | ||
| Current Ratio | 1.24 | ||
| Quick Ratio | 0.77 | ||
| Altman-Z | 11.63 |
F-Score7
WACC11.33%
ROIC/WACC4.01
Cap/Depr(3y)252.06%
Cap/Depr(5y)239.45%
Cap/Sales(3y)10.35%
Cap/Sales(5y)10.04%
Profit Quality(3y)86.81%
Profit Quality(5y)107.17%
High Growth Momentum
Growth
EPS 1Y (TTM)16.9%
EPS 3Y20.41%
EPS 5Y23.86%
EPS Q2Q%19.17%
EPS Next Y22.44%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
EPS Next 5Y19.85%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%13.25%
Revenue Next Year15.71%
Revenue Next 2Y17.59%
Revenue Next 3Y14.56%
Revenue Next 5Y13.07%
EBIT growth 1Y25.35%
EBIT growth 3Y18.08%
EBIT growth 5Y23.22%
EBIT Next Year28.84%
EBIT Next 3Y23.37%
EBIT Next 5Y19.34%
FCF growth 1Y21.3%
FCF growth 3Y15.46%
FCF growth 5Y24.71%
OCF growth 1Y11.78%
OCF growth 3Y13.59%
OCF growth 5Y21.11%
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 7 / 10 to ASML.AS.
Can you provide the valuation status for ASML HOLDING NV?
ChartMill assigns a valuation rating of 5 / 10 to ASML HOLDING NV (ASML.AS). This can be considered as Fairly Valued.
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 48.3 and the Price/Book (PB) ratio is 20.06.
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 17.36%.