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

AMS:ASML • NL0010273215

Current stock price

1128.2 EUR
-40.4 (-3.46%)
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 has a better Return On Assets (19.00%) than 88.06% of its industry peers.
  • ASML has a Return On Equity of 49.00%. This is amongst the best in the industry. ASML outperforms 91.04% of its industry peers.
  • ASML has a better Return On Invested Capital (35.18%) than 91.04% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ASML is significantly above the industry average of 14.50%.
  • 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

  • The Profit Margin of ASML (29.42%) is better than 83.58% 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 88.06% of its industry peers.
  • ASML's Operating Margin has improved in the last couple of years.
  • The Gross Margin of ASML (52.83%) is better than 64.18% of its industry peers.
  • In the last couple of years the Gross Margin of ASML has grown nicely.
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. ASML.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 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

  • 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 86.57% of its industry peers.
  • A Debt/Equity ratio of 0.14 indicates that ASML is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.14, ASML is in the better half of the industry, outperforming 67.16% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 0.25
Altman-Z N/A
ROIC/WACC3.17
WACC11.1%
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.
  • Looking at the Current ratio, with a value of 1.26, ASML is doing worse than 92.54% of the companies in the same industry.
  • A Quick Ratio of 0.79 indicates that ASML may have some problems paying its short term obligations.
  • ASML has a worse Quick ratio (0.79) than 91.04% 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. ASML.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 28.48% over the past year.
  • The Earnings Per Share has been growing by 23.86% on average over the past years. This is a very strong growth
  • The Revenue has grown by 15.58% in the past year. This is quite good.
  • The Revenue has been growing by 18.50% on average over the past years. This is quite good.
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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Find the best growth stocksShow best growing peers

2

4. ASML.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • ASML is valuated quite expensively with a Price/Earnings ratio of 45.64.
  • Based on the Price/Earnings ratio, ASML is valued a bit more expensive than the industry average as 64.18% of the companies are valued more cheaply.
  • When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (25.23), we can say ASML is valued expensively.
  • A Price/Forward Earnings ratio of 37.38 indicates a quite expensive valuation of ASML.
  • 71.64% of the companies in the same industry are cheaper than ASML, based on the Price/Forward Earnings ratio.
  • ASML's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.28.
Industry RankSector Rank
PE 45.64
Fwd PE 37.38
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

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ASML is valued a bit more expensive than the industry average as 70.15% of the companies are valued more cheaply.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML indicates a somewhat cheap valuation: ASML is cheaper than 74.63% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 39.71
EV/EBITDA 35.9
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.
  • ASML's earnings are expected to grow with 22.66% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.07
PEG (5Y)1.91
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 0.64%, which is pretty low.
  • ASML's Dividend Yield is a higher than the industry average which is at 0.86.
  • 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 0.64%

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

More info and screens

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ASML.AS Fundamentals: All Metrics, Ratios and Statistics

ASML HOLDING NV

AMS:ASML (3/20/2026, 7:00:00 PM)

1128.2

-40.4 (-3.46%)

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 Cap437.91B
Revenue(TTM)32.67B
Net Income(TTM)9.61B
Analysts78.1
Price Target1391.22 (23.31%)
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)3.17%
PT rev (3m)42.19%
EPS NQ rev (1m)9.98%
EPS NQ rev (3m)18.88%
EPS NY rev (1m)10.44%
EPS NY rev (3m)13.78%
Revenue NQ rev (1m)6.24%
Revenue NQ rev (3m)11.12%
Revenue NY rev (1m)9.8%
Revenue NY rev (3m)9.91%
Valuation
Industry RankSector Rank
PE 45.64
Fwd PE 37.38
P/S 13.41
P/FCF 39.71
P/OCF 34.59
P/B 22.33
P/tB 30.24
EV/EBITDA 35.9
EPS(TTM)24.72
EY2.19%
EPS(NY)30.18
Fwd EY2.68%
FCF(TTM)28.41
FCFY2.52%
OCF(TTM)32.61
OCFY2.89%
SpS84.16
BVpS50.53
TBVpS37.31
PEG (NY)2.07
PEG (5Y)1.91
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
WACC11.1%
ROIC/WACC3.17
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.


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 45.64 and the Price/Book (PB) ratio is 22.33.


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 22.09% in the next year.