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

AMS:ASML • NL0010273215

Current stock price

1237 EUR
-8 (-0.64%)
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.
  • In the past year ASML had a positive cash flow from operations.
  • In the past 5 years ASML has always been profitable.
  • ASML had a positive operating cash flow in each of the past 5 years.
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 26.44% is amongst the best of the industry. ASML outperforms 89.23% of its industry peers.
  • ASML has a Return On Equity of 60.75%. This is amongst the best in the industry. ASML outperforms 89.23% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 45.44%, ASML belongs to the top of the industry, outperforming 95.38% 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 16.18%.
  • The last Return On Invested Capital (45.44%) for ASML is above the 3 year average (28.63%), which is a sign of increasing profitability.
Industry RankSector 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%
ASML.AS Yearly ROA, ROE, ROICASML.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

1.3 Margins

  • With an excellent Profit Margin value of 30.66%, ASML belongs to the best of the industry, outperforming 83.08% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ASML has grown nicely.
  • ASML's Operating Margin of 36.02% is amongst the best of the industry. ASML outperforms 86.15% of its industry peers.
  • ASML's Operating Margin has improved in the last couple of years.
  • With a decent Gross Margin value of 52.15%, ASML is doing good in the industry, outperforming 63.08% 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 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%
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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8

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.
  • ASML has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ASML has less shares outstanding
  • 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 2025 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

  • An Altman-Z score of 11.79 indicates that ASML is not in any danger for bankruptcy at the moment.
  • ASML has a Altman-Z score (11.79) which is comparable to the rest of the industry.
  • 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.
  • The Debt to FCF ratio of ASML (0.42) is better than 86.15% of its industry peers.
  • A Debt/Equity ratio of 0.12 indicates that ASML is not too dependend on debt financing.
  • ASML has a Debt to Equity ratio of 0.12. This is in the better half of the industry: ASML outperforms 66.15% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 0.42
Altman-Z 11.79
ROIC/WACC4.01
WACC11.32%
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 20B

2.3 Liquidity

  • A Current Ratio of 1.24 indicates that ASML should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.24, ASML is not doing good in the industry: 90.77% of the companies in the same industry are doing better.
  • 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.
  • The Quick ratio of ASML (0.77) is worse than 89.23% of its industry peers.
  • ASML does not score too well on the current and quick ratio evaluation. However, as it has 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 1.24
Quick Ratio 0.77
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 nice 16.90% over the past year.
  • ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.86% yearly.
  • 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)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.
  • 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 Y22.44%
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

  • 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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4

4. ASML.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • ASML is valuated quite expensively with a Price/Earnings ratio of 47.82.
  • ASML's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.71. ASML is valued rather expensively when compared to this.
  • A Price/Forward Earnings ratio of 31.33 indicates a quite expensive valuation of ASML.
  • The rest of the industry has a similar Price/Forward Earnings ratio as ASML.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.09, ASML is valued at the same level.
Industry RankSector Rank
PE 47.82
Fwd PE 31.33
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

  • ASML's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. ASML is cheaper than 61.54% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, ASML is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 43.19
EV/EBITDA 25.37
ASML.AS Per share dataASML.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

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)2.13
PEG (5Y)2
EPS Next 2Y26.38%
EPS Next 3Y22.61%

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4

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 0.62.
  • Compared to an average S&P500 Dividend Yield of 1.81, ASML's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.61%

5.2 History

  • The dividend of ASML is nicely growing with an annual growth rate of 20.76%!
Dividend Growth(5Y)20.76%
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

  • 17.36% of the earnings are spent on dividend by ASML. This is a low number and sustainable payout ratio.
  • The dividend of ASML is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP17.36%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
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 (4/21/2026, 7:00:00 PM)

1237

-8 (-0.64%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)04-15
Earnings (Next)07-15
Inst Owners45.24%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap480.14B
Revenue(TTM)32.67B
Net Income(TTM)14.69B
Analysts78.57
Price Target1405.83 (13.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector 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 RankSector Rank
PE 47.82
Fwd PE 31.33
P/S 10.02
P/FCF 43.19
P/OCF 34.73
P/B 19.85
P/tB 33.86
EV/EBITDA 25.37
EPS(TTM)25.87
EY2.09%
EPS(NY)39.48
Fwd EY3.19%
FCF(TTM)28.64
FCFY2.32%
OCF(TTM)35.62
OCFY2.88%
SpS123.47
BVpS62.31
TBVpS36.53
PEG (NY)2.13
PEG (5Y)2
Graham Number190.442 (-84.6%)
Profitability
Industry RankSector 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 RankSector 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 11.79
F-Score7
WACC11.32%
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 4 / 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 47.82 and the Price/Book (PB) ratio is 19.85.


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%.