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ASML HOLDING NV-NY REG SHS (ASML) Stock Fundamental Analysis

NASDAQ:ASML - Nasdaq - USN070592100 - Currency: USD

735.96  -1.25 (-0.17%)

After market: 736 +0.04 (+0.01%)

Fundamental Rating

6

Taking everything into account, ASML scores 6 out of 10 in our fundamental rating. ASML was compared to 107 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASML has a great profitability rating, there are some minor concerns on its financial health. ASML has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year ASML was profitable.
In the past year ASML had a positive cash flow from operations.
Of the past 5 years ASML 4 years were profitable.
ASML had a positive operating cash flow in 4 of the past 5 years.
ASML Yearly Net Income VS EBIT VS OCF VS FCFASML Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

1.2 Ratios

ASML has a better Return On Assets (16.75%) than 90.65% of its industry peers.
ASML's Return On Equity of 41.56% is amongst the best of the industry. ASML outperforms 94.39% of its industry peers.
ASML has a better Return On Invested Capital (25.97%) than 95.33% 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 11.66%.
Industry RankSector Rank
ROA 16.75%
ROE 41.56%
ROIC 25.97%
ROA(3y)18.13%
ROA(5y)15.59%
ROE(3y)52.84%
ROE(5y)40.26%
ROIC(3y)29.48%
ROIC(5y)23.28%
ASML Yearly ROA, ROE, ROICASML Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

1.3 Margins

Looking at the Profit Margin, with a value of 29.16%, ASML belongs to the top of the industry, outperforming 90.65% of the companies in the same industry.
In the last couple of years the Profit Margin of ASML has grown nicely.
ASML's Operating Margin of 34.01% is amongst the best of the industry. ASML outperforms 93.46% of its industry peers.
ASML's Operating Margin has improved in the last couple of years.
ASML's Gross Margin of 50.63% is fine compared to the rest of the industry. ASML outperforms 65.42% of its industry peers.
ASML's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 34.01%
PM (TTM) 29.16%
GM 50.63%
OM growth 3Y4.37%
OM growth 5Y5.55%
PM growth 3Y3.65%
PM growth 5Y5%
GM growth 3Y3.14%
GM growth 5Y3%
ASML Yearly Profit, Operating, Gross MarginsASML Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

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6

2. Health

2.1 Basic Checks

ASML has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
There is no outstanding debt for ASML. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
ASML Yearly Shares OutstandingASML Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M
ASML Yearly Total Debt VS Total AssetsASML Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 10B 20B 30B 40B

2.2 Solvency

ASML has an Altman-Z score of 8.27. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of ASML (8.27) is better than 72.90% of its industry peers.
The Debt to FCF ratio of ASML is 1.54, which is an excellent value as it means it would take ASML, only 1.54 years of fcf income to pay off all of its debts.
ASML has a better Debt to FCF ratio (1.54) than 73.83% of its industry peers.
A Debt/Equity ratio of 0.26 indicates that ASML is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.26, ASML perfoms like the industry average, outperforming 40.19% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 1.54
Altman-Z 8.27
ROIC/WACC2.51
WACC10.35%
ASML Yearly LT Debt VS Equity VS FCFASML Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.3 Liquidity

ASML has a Current Ratio of 1.50. This is a normal value and indicates that ASML is financially healthy and should not expect problems in meeting its short term obligations.
ASML has a worse Current ratio (1.50) than 82.24% of its industry peers.
ASML has a Quick Ratio of 1.50. This is a bad value and indicates that ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.82, ASML is doing worse than 88.78% 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 RankSector Rank
Current Ratio 1.5
Quick Ratio 0.82
ASML Yearly Current Assets VS Current LiabilitesASML Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B

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4

3. Growth

3.1 Past

ASML shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.27%.
Measured over the past years, ASML shows a very strong growth in Earnings Per Share. The EPS has been growing by 25.62% on average per year.
EPS 1Y (TTM)-3.27%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%31.54%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.99%

3.2 Future

ASML is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.74% yearly.
The Revenue is expected to grow by 12.60% on average over the next years. This is quite good.
EPS Next Y25.97%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
EPS Next 5Y18.74%
Revenue Next Year16.39%
Revenue Next 2Y14.36%
Revenue Next 3Y13.2%
Revenue Next 5Y12.6%

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.
ASML Yearly Revenue VS EstimatesASML Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B
ASML Yearly EPS VS EstimatesASML Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20 40 60

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 36.56 indicates a quite expensive valuation of ASML.
The rest of the industry has a similar Price/Earnings ratio as ASML.
Compared to an average S&P500 Price/Earnings ratio of 29.53, ASML is valued a bit more expensive.
A Price/Forward Earnings ratio of 29.02 indicates a quite expensive valuation of ASML.
Based on the Price/Forward Earnings ratio, ASML is valued a bit cheaper than the industry average as 62.62% of the companies are valued more expensively.
ASML's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.65.
Industry RankSector Rank
PE 36.56
Fwd PE 29.02
ASML Price Earnings VS Forward Price EarningsASML Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

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 61.68% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 92.57
EV/EBITDA 28.32
ASML Per share dataASML EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

ASML's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
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 22.32% in the coming years.
PEG (NY)1.41
PEG (5Y)1.43
EPS Next 2Y23.37%
EPS Next 3Y22.32%

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4

5. Dividend

5.1 Amount

ASML has a yearly dividend return of 0.90%, which is pretty low.
Compared to an average industry Dividend Yield of 2.21, ASML pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.27, ASML's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.9%

5.2 History

The dividend of ASML is nicely growing with an annual growth rate of 33.46%!
ASML has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of ASML decreased recently.
Dividend Growth(5Y)33.46%
Div Incr Years1
Div Non Decr Years1
ASML Yearly Dividends per shareASML Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

5.3 Sustainability

32.36% of the earnings are spent on dividend by ASML. This is a low number and sustainable payout ratio.
ASML's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.36%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
ASML Yearly Income VS Free CF VS DividendASML Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B
ASML Dividend Payout.ASML Dividend Payout, showing the Payout Ratio.ASML Dividend Payout.PayoutRetained Earnings

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ASML HOLDING NV-NY REG SHS

NASDAQ:ASML (2/24/2025, 10:31:27 PM)

After market: 736 +0.04 (+0.01%)

735.96

-1.25 (-0.17%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)01-29 2025-01-29/bmo
Earnings (Next)04-16 2025-04-16/amc
Inst Owners52.38%
Inst Owner Change-80.64%
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap289.84B
Analysts80.93
Price Target915.22 (24.36%)
Short Float %0.43%
Short Ratio1
Dividend
Industry RankSector Rank
Dividend Yield 0.9%
Yearly Dividend5.96
Dividend Growth(5Y)33.46%
DP32.36%
Div Incr Years1
Div Non Decr Years1
Ex-Date04-28 2025-04-28 (1.919304)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.68%
Min EPS beat(2)6.94%
Max EPS beat(2)10.42%
EPS beat(4)4
Avg EPS beat(4)6.79%
Min EPS beat(4)2.72%
Max EPS beat(4)10.42%
EPS beat(8)8
Avg EPS beat(8)8.94%
EPS beat(12)12
Avg EPS beat(12)8.68%
EPS beat(16)15
Avg EPS beat(16)10.25%
Revenue beat(2)1
Avg Revenue beat(2)-1.05%
Min Revenue beat(2)-3.8%
Max Revenue beat(2)1.71%
Revenue beat(4)2
Avg Revenue beat(4)-0.47%
Min Revenue beat(4)-3.8%
Max Revenue beat(4)2.74%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)2.93%
PT rev (3m)0.28%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.28%
EPS NY rev (3m)0.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)-0.02%
Valuation
Industry RankSector Rank
PE 36.56
Fwd PE 29.02
P/S 10.89
P/FCF 92.57
P/OCF 45.22
P/B 15.51
P/tB 31.06
EV/EBITDA 28.32
EPS(TTM)20.13
EY2.74%
EPS(NY)25.36
Fwd EY3.45%
FCF(TTM)7.95
FCFY1.08%
OCF(TTM)16.28
OCFY2.21%
SpS67.61
BVpS47.44
TBVpS23.7
PEG (NY)1.41
PEG (5Y)1.43
Profitability
Industry RankSector Rank
ROA 16.75%
ROE 41.56%
ROCE 30.74%
ROIC 25.97%
ROICexc 31.6%
ROICexgc 51.5%
OM 34.01%
PM (TTM) 29.16%
GM 50.63%
FCFM 11.76%
ROA(3y)18.13%
ROA(5y)15.59%
ROE(3y)52.84%
ROE(5y)40.26%
ROIC(3y)29.48%
ROIC(5y)23.28%
ROICexc(3y)44.3%
ROICexc(5y)34.53%
ROICexgc(3y)99.52%
ROICexgc(5y)75.22%
ROCE(3y)34.89%
ROCE(5y)27.56%
ROICexcg growth 3Y14.86%
ROICexcg growth 5Y14.44%
ROICexc growth 3Y19.08%
ROICexc growth 5Y18.21%
OM growth 3Y4.37%
OM growth 5Y5.55%
PM growth 3Y3.65%
PM growth 5Y5%
GM growth 3Y3.14%
GM growth 5Y3%
F-Score6
Asset Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 1.54
Debt/EBITDA 0.47
Cap/Depr 279.36%
Cap/Sales 12.31%
Interest Coverage 51.88
Cash Conversion 62.66%
Profit Quality 40.33%
Current Ratio 1.5
Quick Ratio 0.82
Altman-Z 8.27
F-Score6
WACC10.35%
ROIC/WACC2.51
Cap/Depr(3y)246.99%
Cap/Depr(5y)212.26%
Cap/Sales(3y)10.19%
Cap/Sales(5y)10.45%
Profit Quality(3y)105.74%
Profit Quality(5y)102.48%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.27%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%31.54%
EPS Next Y25.97%
EPS Next 2Y23.37%
EPS Next 3Y22.32%
EPS Next 5Y18.74%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.99%
Revenue Next Year16.39%
Revenue Next 2Y14.36%
Revenue Next 3Y13.2%
Revenue Next 5Y12.6%
EBIT growth 1Y-4.96%
EBIT growth 3Y30.87%
EBIT growth 5Y26.96%
EBIT Next Year9.39%
EBIT Next 3Y17.64%
EBIT Next 5Y17.64%
FCF growth 1Y-67.69%
FCF growth 3Y-2.7%
FCF growth 5Y6.05%
OCF growth 1Y-44.62%
OCF growth 3Y7.19%
OCF growth 5Y14.18%