ASML HOLDING NV (ASML.AS) Stock Fundamental Analysis
Europe - Euronext Amsterdam - AMS:ASML - NL0010273215 - Common Stock
1141 EUR
+20.6 (+1.84%)
Overall ASML gets a fundamental rating of 7 out of 10. We evaluated ASML against 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.
- 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.
1.2 Ratios
- ASML has a Return On Assets of 20.71%. This is amongst the best in the industry. ASML outperforms 91.18% of its industry peers.
- ASML has a better Return On Equity (47.39%) than 91.18% of its industry peers.
- The Return On Invested Capital of ASML (32.62%) is better than 92.65% 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 14.62%.
- The 3 year average ROIC (27.67%) for ASML is below the current ROIC(32.62%), indicating increased profibility in the last year.
| 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 has a Profit Margin of 31.73%. This is amongst the best in 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.
- ASML's Operating Margin has improved in the last couple of years.
- ASML's Gross Margin of 51.93% is fine compared to the rest of the industry. ASML outperforms 67.65% of its industry peers.
- 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.
- ASML has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for ASML has been reduced compared to 5 years ago.
- ASML has a better debt/assets ratio than last year.
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.
- ASML has a debt to FCF ratio of 0.51. This is a very positive value and a sign of high solvency as it would only need 0.51 years to pay back of all of its debts.
- With an excellent Debt to FCF ratio value of 0.51, ASML belongs to the best of the industry, outperforming 85.29% of the companies in the same industry.
- A Debt/Equity ratio of 0.17 indicates that ASML is not too dependend on debt financing.
- ASML's Debt to Equity ratio of 0.17 is fine compared to the rest of the industry. ASML outperforms 64.71% of its industry peers.
| 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.
- Looking at the Current ratio, with a value of 1.41, ASML is doing worse than 88.24% of the companies in the same industry.
- A Quick Ratio of 0.79 indicates that ASML may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.79, ASML is doing worse than 86.76% of the companies in the same industry.
- 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 | 1.41 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 37.61% over the past year.
- The Earnings Per Share has been growing by 25.62% on average over the past years. This is a very strong growth
- Looking at the last year, ASML shows a small growth in Revenue. The Revenue has grown by 2.56% in the last year.
- The Revenue has been growing by 19.05% on average over the past years. This is quite good.
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.
- ASML is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.10% yearly.
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
- The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
- The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 47.11, which means the current valuation is very expensive for ASML.
- Compared to the rest of the industry, the Price/Earnings ratio of ASML is on the same level as its industry peers.
- ASML's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.38.
- With a Price/Forward Earnings ratio of 42.97, ASML can be considered very expensive at the moment.
- Based on the Price/Forward Earnings ratio, ASML is valued a bit more expensive than the industry average as 69.12% of the companies are valued more cheaply.
- When comparing the Price/Forward Earnings ratio of ASML to the average of the S&P500 Index (24.29), we can say ASML is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.11 | ||
| Fwd PE | 42.97 |
4.2 Price Multiples
- ASML's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. ASML is more expensive than 60.29% of the companies in the same industry.
- ASML's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ASML is cheaper than 67.65% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.62 | ||
| EV/EBITDA | 32.32 |
4.3 Compensation for Growth
- ASML's 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.
- Compared to an average industry Dividend Yield of 0.72, ASML has a dividend in line with its industry peers.
- 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.
- The dividend of ASML is growing, but earnings are growing more, so the dividend growth is sustainable.
DP24.55%
EPS Next 2Y17.48%
EPS Next 3Y19.72%
AMS:ASML (1/20/2026, 5:13:19 PM)
1141
+20.6 (+1.84%)
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 Cap442.88B
Revenue(TTM)28.26B
Net Income(TTM)10.20B
Analysts77.5
Price Target1059.33 (-7.16%)
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 | 47.11 | ||
| Fwd PE | 42.97 | ||
| P/S | 13.77 | ||
| P/FCF | 47.62 | ||
| P/OCF | 35.73 | ||
| P/B | 20.57 | ||
| P/tB | 37.6 | ||
| 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 47.11 and the Price/Book (PB) ratio is 20.57.
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.