ASML HOLDING NV (ASML.AS) Stock Fundamental Analysis

AMS:ASML • NL0010273215

1249.2 EUR
-6.4 (-0.51%)
Last: Feb 23, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to ASML. ASML was compared to 61 industry peers in the Semiconductors & Semiconductor Equipment industry. ASML has an excellent profitability rating, but there are some minor concerns on its financial health. ASML is valued quite expensive, but it does show an excellent growth. These ratings would make ASML suitable for growth investing!


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year ASML was profitable.
  • ASML had a positive operating cash flow in the past year.
  • In the past 5 years ASML has always been profitable.
  • 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 has a better Return On Assets (19.00%) than 88.52% 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 91.80% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 35.18%, ASML belongs to the best of the industry, outperforming 91.80% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ASML is significantly above the industry average of 14.78%.
  • The last Return On Invested Capital (35.18%) for ASML is above the 3 year average (30.78%), which is a sign of increasing profitability.
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 amongst the best in the industry. ASML outperforms 85.25% of its industry peers.
  • ASML's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 34.60%, ASML belongs to the best of the industry, outperforming 86.89% of the companies in the same industry.
  • In the last couple of years the Operating Margin of ASML has grown nicely.
  • ASML has a better Gross Margin (52.83%) than 65.57% 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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ROAROEROICOperating and Profit MarginShow most profitable peers

5

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.
  • The debt/assets ratio for ASML has been reduced compared to a year ago.
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.
  • Looking at the Debt to FCF ratio, with a value of 0.25, ASML belongs to the top of the industry, outperforming 90.16% of the companies in the same industry.
  • 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 72.13% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 0.25
Altman-Z N/A
ROIC/WACC3.25
WACC10.81%
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 90.16% 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 88.52% 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. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 27.44% 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 23.66% 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.
  • 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)27.44%
EPS 3Y20.08%
EPS 5Y23.66%
EPS Q2Q%4.39%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%1.88%

3.2 Future

  • The Earnings Per Share is expected to grow by 19.57% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 12.74% on average over the next years. This is quite good.
EPS Next Y11.45%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
EPS Next 5Y19.57%
Revenue Next Year4.75%
Revenue Next 2Y9.75%
Revenue Next 3Y9.98%
Revenue Next 5Y12.74%

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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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 50.95, ASML can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, ASML is valued a bit more expensive than the industry average as 65.57% of the companies are valued more cheaply.
  • ASML's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.64.
  • The Price/Forward Earnings ratio is 45.71, which means the current valuation is very expensive for ASML.
  • Based on the Price/Forward Earnings ratio, ASML is valued a bit more expensive than the industry average as 72.13% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of ASML to the average of the S&P500 Index (27.75), we can say ASML is valued expensively.
Industry RankSector Rank
PE 50.95
Fwd PE 45.71
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 72.13% of the companies are valued more cheaply.
  • Based on the Price/Free Cash Flow ratio, ASML is valued a bit cheaper than 77.05% of the companies in the same industry.
Industry RankSector Rank
P/FCF 43.97
EV/EBITDA 38.64
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)4.45
PEG (5Y)2.15
EPS Next 2Y18.51%
EPS Next 3Y16.04%

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

4

5. Dividend

5.1 Amount

  • ASML has a yearly dividend return of 0.64%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.78, ASML has a dividend in line with its industry peers.
  • With a Dividend Yield of 0.64, ASML pays less dividend than the S&P500 average, which is at 1.80.
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

  • 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 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 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 HOLDING NV

AMS:ASML (2/23/2026, 7:00:00 PM)

1249.2

-6.4 (-0.51%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-28
Earnings (Next)04-15
Inst Owners44.3%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap484.88B
Revenue(TTM)32.67B
Net Income(TTM)9.61B
Analysts77.62
Price Target1348.47 (7.95%)
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)-4.33%
Min EPS beat(2)-7.23%
Max EPS beat(2)-1.44%
EPS beat(4)2
Avg EPS beat(4)1.1%
Min EPS beat(4)-7.23%
Max EPS beat(4)11.23%
EPS beat(8)5
Avg EPS beat(8)3.6%
EPS beat(12)9
Avg EPS beat(12)5.05%
EPS beat(16)13
Avg EPS beat(16)5.91%
Revenue beat(2)0
Avg Revenue beat(2)-4.95%
Min Revenue beat(2)-5.4%
Max Revenue beat(2)-4.51%
Revenue beat(4)1
Avg Revenue beat(4)-3.17%
Min Revenue beat(4)-5.4%
Max Revenue beat(4)0.27%
Revenue beat(8)4
Avg Revenue beat(8)-1.53%
Revenue beat(12)7
Avg Revenue beat(12)-0.56%
Revenue beat(16)10
Avg Revenue beat(16)-0.11%
PT rev (1m)27.29%
PT rev (3m)42.25%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.76%
EPS NY rev (1m)0%
EPS NY rev (3m)4.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)6.31%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 50.95
Fwd PE 45.71
P/S 14.84
P/FCF 43.97
P/OCF 38.3
P/B 24.72
P/tB 33.48
EV/EBITDA 38.64
EPS(TTM)24.52
EY1.96%
EPS(NY)27.33
Fwd EY2.19%
FCF(TTM)28.41
FCFY2.27%
OCF(TTM)32.61
OCFY2.61%
SpS84.16
BVpS50.53
TBVpS37.31
PEG (NY)4.45
PEG (5Y)2.15
Graham Number166.96
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
WACC10.81%
ROIC/WACC3.25
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)27.44%
EPS 3Y20.08%
EPS 5Y23.66%
EPS Q2Q%4.39%
EPS Next Y11.45%
EPS Next 2Y18.51%
EPS Next 3Y16.04%
EPS Next 5Y19.57%
Revenue 1Y (TTM)15.58%
Revenue growth 3Y15.55%
Revenue growth 5Y18.5%
Sales Q2Q%1.88%
Revenue Next Year4.75%
Revenue Next 2Y9.75%
Revenue Next 3Y9.98%
Revenue Next 5Y12.74%
EBIT growth 1Y-10.34%
EBIT growth 3Y20.24%
EBIT growth 5Y22.77%
EBIT Next Year14.16%
EBIT Next 3Y15.37%
EBIT Next 5Y18.94%
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 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 50.95 and the Price/Book (PB) ratio is 24.72.


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.