ASML HOLDING NV (ASML.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:ASML - NL0010273215 - Common Stock
1140 EUR
+19.6 (+1.75%)
We assign a fundamental rating of 7 out of 10 to ASML. ASML was compared to 68 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the health and profitability get an excellent rating, making ASML a very profitable company, without any liquidiy or solvency issues. ASML is valued quite expensively, but it does show have an excellent growth rating. With these ratings, ASML could be worth investigating further for growth and quality investing!.
1. Profitability
1.1 Basic Checks
- ASML had positive earnings in the past year.
- ASML had a positive operating cash flow in the past year.
- ASML had positive earnings in each of the past 5 years.
- Each year in the past 5 years ASML had a positive operating cash flow.
1.2 Ratios
- ASML has a better Return On Assets (20.71%) than 91.18% of its industry peers.
- Looking at the Return On Equity, with a value of 47.39%, ASML belongs to the top of the industry, outperforming 91.18% of the companies in the same industry.
- With an excellent Return On Invested Capital value of 32.62%, ASML belongs to the best of the industry, outperforming 92.65% 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 14.62%.
- The last Return On Invested Capital (32.62%) for ASML is above the 3 year average (27.67%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 20.71% | ||
| ROE | 47.39% | ||
| ROIC | 32.62% |
ROA(3y)17.06%
ROA(5y)16.62%
ROE(3y)48.22%
ROE(5y)44.12%
ROIC(3y)27.67%
ROIC(5y)25.41%
1.3 Margins
- ASML's Profit Margin of 31.73% is amongst the best of the industry. ASML outperforms 88.24% of its industry peers.
- ASML's Profit Margin has improved in the last couple of years.
- ASML's Operating Margin of 37.74% is amongst the best of the industry. ASML outperforms 91.18% of its industry peers.
- In the last couple of years the Operating Margin of ASML has grown nicely.
- With a decent Gross Margin value of 51.93%, ASML is doing good in the industry, outperforming 67.65% of the companies in the same industry.
- ASML's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.74% | ||
| PM (TTM) | 31.73% | ||
| GM | 51.93% |
OM growth 3Y-1.42%
OM growth 5Y8.87%
PM growth 3Y-3.59%
PM growth 5Y6.23%
GM growth 3Y-0.04%
GM growth 5Y4.04%
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 number of shares outstanding for ASML remains at a similar level compared to 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.
2.2 Solvency
- ASML has an Altman-Z score of 11.67. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
- With a decent Altman-Z score value of 11.67, ASML is doing good in the industry, outperforming 73.53% of the companies in the same industry.
- The Debt to FCF ratio of ASML is 0.51, which is an excellent value as it means it would take ASML, only 0.51 years of fcf income to pay off all of its debts.
- Looking at the Debt to FCF ratio, with a value of 0.51, ASML belongs to the top of the industry, outperforming 85.29% of the companies in the same industry.
- ASML has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
- Looking at the Debt to Equity ratio, with a value of 0.17, ASML is in the better half of the industry, outperforming 64.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.17 | ||
| Debt/FCF | 0.51 | ||
| Altman-Z | 11.67 |
ROIC/WACC3.18
WACC10.25%
2.3 Liquidity
- A Current Ratio of 1.41 indicates that ASML should not have too much problems paying its short term obligations.
- ASML has a Current ratio of 1.41. This is amonst the worse of the industry: ASML underperforms 88.24% of its industry peers.
- ASML has a Quick Ratio of 1.41. This is a bad value and indicates that ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
- With a Quick ratio value of 0.79, ASML is not doing good in the industry: 86.76% of the companies in the same industry are doing better.
- 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 | 1.41 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
- ASML shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 37.61%, which is quite impressive.
- ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 25.62% yearly.
- The Revenue has been growing slightly by 2.56% in the past year.
- Measured over the past years, ASML shows a quite strong growth in Revenue. The Revenue has been growing by 19.05% on average per year.
EPS 1Y (TTM)37.61%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%3.79%
Revenue 1Y (TTM)2.56%
Revenue growth 3Y14.94%
Revenue growth 5Y19.05%
Sales Q2Q%0.65%
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 19.44% on average per year.
- The Revenue is expected to grow by 12.10% on average over the next years. This is quite good.
EPS Next Y31.25%
EPS Next 2Y17.48%
EPS Next 3Y19.72%
EPS Next 5Y19.44%
Revenue Next Year16.7%
Revenue Next 2Y10.56%
Revenue Next 3Y12.02%
Revenue Next 5Y12.1%
3.3 Evolution
- Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past 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. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 47.07 indicates a quite expensive valuation of ASML.
- The rest of the industry has a similar Price/Earnings ratio as ASML.
- When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (27.38), we can say ASML is valued expensively.
- With a Price/Forward Earnings ratio of 42.93, ASML can be considered very expensive at the moment.
- 69.12% of the companies in the same industry are cheaper than ASML, based on the Price/Forward Earnings ratio.
- ASML is valuated expensively when we compare the Price/Forward Earnings ratio to 24.29, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.07 | ||
| Fwd PE | 42.93 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, ASML is valued a bit more expensive than 60.29% of the companies in the same industry.
- 67.65% of the companies in the same industry are more expensive than ASML, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.58 | ||
| EV/EBITDA | 32.32 |
4.3 Compensation for Growth
- The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- The excellent profitability rating of ASML may justify a higher PE ratio.
- ASML's earnings are expected to grow with 19.72% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.51
PEG (5Y)1.84
EPS Next 2Y17.48%
EPS Next 3Y19.72%
5. Dividend
5.1 Amount
- With a yearly dividend of 0.39%, ASML is not a good candidate for dividend investing.
- ASML's Dividend Yield is comparable with the industry average which is at 0.72.
- Compared to an average S&P500 Dividend Yield of 1.84, ASML's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.39% |
5.2 History
- On average, the dividend of ASML grows each year by 14.61%, which is quite nice.
Dividend Growth(5Y)14.61%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
- 24.55% 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.
DP24.55%
EPS Next 2Y17.48%
EPS Next 3Y19.72%
AMS:ASML (1/20/2026, 5:40:02 PM)
1140
+19.6 (+1.75%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)10-15 2025-10-15/bmo
Earnings (Next)01-28 2026-01-28/amc
Inst Owners44.3%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap442.49B
Revenue(TTM)28.26B
Net Income(TTM)10.20B
Analysts77.5
Price Target1059.33 (-7.08%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.39% |
Yearly Dividend6.24
Dividend Growth(5Y)14.61%
DP24.55%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.54%
Min EPS beat(2)1.85%
Max EPS beat(2)11.23%
EPS beat(4)3
Avg EPS beat(4)5.03%
Min EPS beat(4)-0.46%
Max EPS beat(4)11.23%
EPS beat(8)7
Avg EPS beat(8)5.91%
EPS beat(12)11
Avg EPS beat(12)7.64%
EPS beat(16)15
Avg EPS beat(16)7.77%
Revenue beat(2)1
Avg Revenue beat(2)-1.38%
Min Revenue beat(2)-3.04%
Max Revenue beat(2)0.27%
Revenue beat(4)3
Avg Revenue beat(4)-0.06%
Min Revenue beat(4)-3.04%
Max Revenue beat(4)2.45%
Revenue beat(8)5
Avg Revenue beat(8)-0.26%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)8.27%
PT rev (3m)35.57%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.15%
EPS NY rev (3m)4.08%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.21%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.07 | ||
| Fwd PE | 42.93 | ||
| P/S | 13.76 | ||
| P/FCF | 47.58 | ||
| P/OCF | 35.69 | ||
| P/B | 20.55 | ||
| P/tB | 37.57 | ||
| EV/EBITDA | 32.32 |
EPS(TTM)24.22
EY2.12%
EPS(NY)26.56
Fwd EY2.33%
FCF(TTM)23.96
FCFY2.1%
OCF(TTM)31.94
OCFY2.8%
SpS82.86
BVpS55.47
TBVpS30.34
PEG (NY)1.51
PEG (5Y)1.84
Graham Number173.87
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 20.71% | ||
| ROE | 47.39% | ||
| ROCE | 39.61% | ||
| ROIC | 32.62% | ||
| ROICexc | 42.72% | ||
| ROICexgc | 73.26% | ||
| OM | 37.74% | ||
| PM (TTM) | 31.73% | ||
| GM | 51.93% | ||
| FCFM | 28.91% |
ROA(3y)17.06%
ROA(5y)16.62%
ROE(3y)48.22%
ROE(5y)44.12%
ROIC(3y)27.67%
ROIC(5y)25.41%
ROICexc(3y)41.66%
ROICexc(5y)38.87%
ROICexgc(3y)84.2%
ROICexgc(5y)83.08%
ROCE(3y)33.6%
ROCE(5y)30.86%
ROICexgc growth 3Y-12.45%
ROICexgc growth 5Y21.45%
ROICexc growth 3Y-3.42%
ROICexc growth 5Y22.02%
OM growth 3Y-1.42%
OM growth 5Y8.87%
PM growth 3Y-3.59%
PM growth 5Y6.23%
GM growth 3Y-0.04%
GM growth 5Y4.04%
F-Score8
Asset Turnover0.65
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.17 | ||
| Debt/FCF | 0.51 | ||
| Debt/EBITDA | 0.28 | ||
| Cap/Depr | 250.54% | ||
| Cap/Sales | 9.63% | ||
| Interest Coverage | 85.97 | ||
| Cash Conversion | 92.68% | ||
| Profit Quality | 91.13% | ||
| Current Ratio | 1.41 | ||
| Quick Ratio | 0.79 | ||
| Altman-Z | 11.67 |
F-Score8
WACC10.25%
ROIC/WACC3.18
Cap/Depr(3y)273.2%
Cap/Depr(5y)236.91%
Cap/Sales(3y)11.06%
Cap/Sales(5y)10.7%
Profit Quality(3y)88.17%
Profit Quality(5y)105.34%
High Growth Momentum
Growth
EPS 1Y (TTM)37.61%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%3.79%
EPS Next Y31.25%
EPS Next 2Y17.48%
EPS Next 3Y19.72%
EPS Next 5Y19.44%
Revenue 1Y (TTM)2.56%
Revenue growth 3Y14.94%
Revenue growth 5Y19.05%
Sales Q2Q%0.65%
Revenue Next Year16.7%
Revenue Next 2Y10.56%
Revenue Next 3Y12.02%
Revenue Next 5Y12.1%
EBIT growth 1Y40.28%
EBIT growth 3Y13.31%
EBIT growth 5Y29.61%
EBIT Next Year39.88%
EBIT Next 3Y21.29%
EBIT Next 5Y19.19%
FCF growth 1Y58.59%
FCF growth 3Y-2.76%
FCF growth 5Y30.05%
OCF growth 1Y43.18%
OCF growth 3Y2.19%
OCF growth 5Y27.61%
ASML HOLDING NV / ASML.AS 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 3 / 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 47.07 and the Price/Book (PB) ratio is 20.55.
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 31.25% in the next year.