ASML HOLDING NV (ASML.AS) Fundamental Analysis & Valuation
AMS:ASML • NL0010273215
Current stock price
1222.4 EUR
+29.8 (+2.5%)
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.
- Each year in the past 5 years ASML has been profitable.
- Each year in the past 5 years ASML had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of ASML (26.44%) is better than 89.39% of its industry peers.
- ASML has a better Return On Equity (60.75%) than 89.39% of its industry peers.
- The Return On Invested Capital of ASML (45.44%) is better than 93.94% of its industry peers.
- The Average Return On Invested Capital over the past 3 years 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 80.30% of its industry peers.
- In the last couple of years the Profit Margin of ASML has grown nicely.
- With an excellent Operating Margin value of 36.02%, ASML belongs to the best of the industry, outperforming 86.36% of the companies in the same industry.
- In the last couple of years the Operating Margin of ASML has grown nicely.
- Looking at the Gross Margin, with a value of 52.15%, ASML is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
- 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.
- Compared to 1 year ago, ASML has less shares outstanding
- ASML has less shares outstanding than it did 5 years ago.
- Compared to 1 year ago, ASML has an improved debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 11.40 indicates that ASML is not in any danger for bankruptcy at the moment.
- With a Altman-Z score value of 11.40, 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.
- ASML has a Debt to FCF ratio of 0.42. This is amongst the best in the industry. ASML outperforms 83.33% of its industry peers.
- ASML has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
- With a decent Debt to Equity ratio value of 0.12, ASML is doing good in the industry, outperforming 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.42 | ||
| Altman-Z | 11.4 |
ROIC/WACC3.87
WACC11.75%
2.3 Liquidity
- A Current Ratio of 1.24 indicates that ASML should not have too much problems paying its short term obligations.
- ASML has a worse Current ratio (1.24) than 92.42% of its industry peers.
- 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 93.94% 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.
- ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.86% yearly.
- 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.
- ASML is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.75% yearly.
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
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
- 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
- A Price/Earnings ratio of 47.25 indicates a quite expensive valuation of ASML.
- ASML's Price/Earnings ratio is a bit cheaper when compared to the industry. ASML is cheaper than 62.12% of the companies in the same industry.
- When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (26.54), we can say ASML is valued expensively.
- A Price/Forward Earnings ratio of 30.96 indicates a quite expensive valuation of ASML.
- ASML's Price/Forward Earnings is on the same level as the industry average.
- The average S&P500 Price/Forward Earnings ratio is at 21.68. ASML is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.25 | ||
| Fwd PE | 30.96 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASML.
- Based on the Price/Free Cash Flow ratio, ASML is valued a bit cheaper than 78.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.68 | ||
| EV/EBITDA | 24.28 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- The excellent profitability rating of ASML 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)2.11
PEG (5Y)1.98
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
- 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
- 17.36% of the earnings are spent on dividend by ASML. This is a low number and 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 (4/30/2026, 5:36:15 PM)
1222.4
+29.8 (+2.5%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Industry Strength97.97
Industry Growth93.33
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 Cap474.47B
Revenue(TTM)32.67B
Net Income(TTM)14.69B
Analysts78.57
Price Target1405.83 (15.01%)
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 | 47.25 | ||
| Fwd PE | 30.96 | ||
| P/S | 9.9 | ||
| P/FCF | 42.68 | ||
| P/OCF | 34.32 | ||
| P/B | 19.62 | ||
| P/tB | 33.46 | ||
| EV/EBITDA | 24.28 |
EPS(TTM)25.87
EY2.12%
EPS(NY)39.48
Fwd EY3.23%
FCF(TTM)28.64
FCFY2.34%
OCF(TTM)35.62
OCFY2.91%
SpS123.47
BVpS62.31
TBVpS36.53
PEG (NY)2.11
PEG (5Y)1.98
Graham Number190.442 (-84.42%)
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 | 11.4 |
F-Score7
WACC11.75%
ROIC/WACC3.87
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 47.25 and the Price/Book (PB) ratio is 19.62.
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%.