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
- In the past year ASML was profitable.
- ASML had a positive operating cash flow in the past year.
- ASML had positive earnings in each of the past 5 years.
- In the past 5 years ASML always reported a positive cash flow from operatings.
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's Return On Equity of 60.75% is amongst the best of the industry. ASML outperforms 92.42% of its industry peers.
- With an excellent Return On Invested Capital value of 45.44%, ASML belongs to the best of the industry, outperforming 96.97% 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 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's Profit Margin of 30.66% is amongst the best of the industry. ASML outperforms 83.33% of its industry peers.
- In the last couple of years the Profit Margin of ASML has grown nicely.
- Looking at the Operating Margin, with a value of 36.02%, ASML belongs to the top of the industry, outperforming 89.39% of the companies in the same industry.
- ASML's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 52.15%, ASML is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
- 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
- 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.
- The number of shares outstanding for ASML has been reduced compared to 5 years ago.
- The debt/assets ratio for ASML has been reduced compared to a year ago.
2.2 Solvency
- ASML has an Altman-Z score of 11.55. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
- With a Altman-Z score value of 11.55, ASML perfoms like the industry average, outperforming 59.09% of the companies in the same industry.
- ASML has a debt to FCF ratio of 0.42. This is a very positive value and a sign of high solvency as it would only need 0.42 years to pay back of 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.
- Looking at the Debt to Equity ratio, with a value of 0.12, ASML is in the better half of the industry, outperforming 69.70% of the companies in the same industry.
| 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.
- ASML's Current ratio of 1.24 is on the low side compared to the rest of the industry. ASML is outperformed by 89.39% 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.
- ASML has a Quick ratio of 0.77. This is amonst the worse of the industry: ASML underperforms 90.91% of its industry peers.
- 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.
- 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.
- ASML shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 18.50% yearly.
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 20.95% on average over the next years. This is a very strong growth
- 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.
- 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.
4. ASML.AS Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 45.30, ASML can be considered very expensive at the moment.
- ASML's Price/Earnings ratio is a bit cheaper when compared to the industry. ASML is cheaper than 65.15% of the companies in the same industry.
- When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (26.91), 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.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of ASML is on the same level as its industry peers.
- When comparing the Price/Forward Earnings ratio of ASML to the average of the S&P500 Index (21.99), we can say ASML is valued slightly more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 45.3 | ||
| Fwd PE | 29.68 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ASML indicates a somewhat cheap valuation: ASML is cheaper than 60.61% of the companies listed in the same industry.
- ASML's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ASML is cheaper than 81.82% of the companies 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.
- ASML's Dividend Yield is a higher than the industry average which is at 0.49.
- With a Dividend Yield of 0.61, ASML pays less dividend than the S&P500 average, which is at 1.82.
| Industry Rank | Sector 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
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 around the same rate as the earnings are growing. If this keeps up 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, 7:00:00 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%.