ASML HOLDING NV (ASML.AS) Fundamental Analysis & Valuation
AMS:ASML • NL0010273215
Current stock price
1171.8 EUR
-40.8 (-3.36%)
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
- ASML had positive earnings in the past year.
- In the past year ASML had a positive cash flow from operations.
- Each year in the past 5 years ASML has been profitable.
- ASML had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of 26.44%, ASML belongs to the top of the industry, outperforming 92.42% of the companies in the same industry.
- ASML has a Return On Equity of 60.75%. This is amongst the best in the industry. ASML outperforms 92.42% of its industry peers.
- ASML's Return On Invested Capital of 45.44% is amongst the best of the industry. ASML outperforms 96.97% 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 15.52%.
- 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 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 has a better Profit Margin (30.66%) than 83.33% of its industry peers.
- ASML's Profit Margin has improved in the last couple of years.
- With an excellent Operating Margin value of 36.02%, ASML belongs to the best of the industry, outperforming 89.39% of the companies in the same industry.
- In the last couple of years the Operating Margin of ASML has grown nicely.
- ASML has a Gross Margin of 52.15%. This is in the better half of the industry: ASML outperforms 66.67% of its industry peers.
- ASML's Gross Margin has improved in the last couple of years.
| 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
- With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ASML is creating value.
- The number of shares outstanding for ASML has been reduced compared to 1 year ago.
- ASML has less shares outstanding than it did 5 years ago.
- ASML has a better debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 11.55 indicates that ASML is not in any danger for bankruptcy at the moment.
- ASML has a Altman-Z score (11.55) 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.
- The Debt to FCF ratio of ASML (0.42) is better than 86.36% 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 69.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.42 | ||
| Altman-Z | 11.55 |
ROIC/WACC3.86
WACC11.76%
2.3 Liquidity
- A Current Ratio of 1.24 indicates that ASML should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.24, ASML is doing worse than 89.39% of the companies in the same industry.
- A Quick Ratio of 0.77 indicates that ASML may have some problems paying its short term obligations.
- ASML's Quick ratio of 0.77 is on the low side compared to the rest of the industry. ASML is outperformed by 90.91% 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 Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.24 | ||
| Quick Ratio | 0.77 |
3. ASML.AS Growth Analysis
3.1 Past
- ASML shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 16.90%, which is quite good.
- 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.
- 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)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
- Based on estimates for the next years, ASML will show a very strong growth in Earnings Per Share. The EPS will grow by 20.95% on average per year.
- Based on estimates for the next years, ASML will show a quite strong growth in Revenue. The Revenue will grow by 13.75% on average per year.
EPS Next Y22.44%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
EPS Next 5Y20.95%
Revenue Next Year15.71%
Revenue Next 2Y17.59%
Revenue Next 3Y14.56%
Revenue Next 5Y13.75%
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.
4. ASML.AS Valuation Analysis
4.1 Price/Earnings Ratio
- ASML is valuated quite expensively with a Price/Earnings ratio of 45.30.
- Based on the Price/Earnings ratio, ASML is valued a bit cheaper than the industry average as 65.15% of the companies are valued more expensively.
- When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (27.15), we can say ASML is valued expensively.
- The Price/Forward Earnings ratio is 29.68, which means the current valuation is very expensive for ASML.
- The rest of the industry has a similar Price/Forward Earnings ratio as ASML.
- ASML's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.12.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.3 | ||
| Fwd PE | 29.68 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, ASML is valued a bit cheaper than the industry average as 60.61% of the companies are valued more expensively.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML indicates a rather cheap valuation: ASML is cheaper than 81.82% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 40.92 | ||
| EV/EBITDA | 24.69 |
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.
- A more expensive valuation may be justified as ASML's earnings are expected to grow with 22.61% in the coming years.
PEG (NY)2.02
PEG (5Y)1.9
EPS Next 2Y26.38%
EPS Next 3Y22.61%
5. ASML.AS Dividend Analysis
5.1 Amount
- ASML has a yearly dividend return of 0.61%, which is pretty low.
- Compared to an average industry Dividend Yield of 0.49, ASML pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, ASML's dividend is way lower than the S&P500 average.
| 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 around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP17.36%
EPS Next 2Y26.38%
EPS Next 3Y22.61%
ASML.AS Fundamentals: All Metrics, Ratios and Statistics
AMS:ASML (4/28/2026, 5:40:17 PM)
1171.8
-40.8 (-3.36%)
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 Cap454.83B
Revenue(TTM)32.67B
Net Income(TTM)14.69B
Analysts78.57
Price Target1405.83 (19.97%)
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)11.06%
EPS NY rev (1m)0.28%
EPS NY rev (3m)10.75%
Revenue NQ rev (1m)0.81%
Revenue NQ rev (3m)7.1%
Revenue NY rev (1m)0.97%
Revenue NY rev (3m)10.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.3 | ||
| Fwd PE | 29.68 | ||
| P/S | 9.49 | ||
| P/FCF | 40.92 | ||
| P/OCF | 32.9 | ||
| P/B | 18.81 | ||
| P/tB | 32.08 | ||
| EV/EBITDA | 24.69 |
EPS(TTM)25.87
EY2.21%
EPS(NY)39.48
Fwd EY3.37%
FCF(TTM)28.64
FCFY2.44%
OCF(TTM)35.62
OCFY3.04%
SpS123.47
BVpS62.31
TBVpS36.53
PEG (NY)2.02
PEG (5Y)1.9
Graham Number190.442 (-83.75%)
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 | 11.55 |
F-Score7
WACC11.76%
ROIC/WACC3.86
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 5Y20.95%
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 5Y13.75%
EBIT growth 1Y25.35%
EBIT growth 3Y18.08%
EBIT growth 5Y23.22%
EBIT Next Year28.84%
EBIT Next 3Y23.37%
EBIT Next 5Y20.72%
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 45.3 and the Price/Book (PB) ratio is 18.81.
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%.