Is ASML Holding (AMS:ASML) Using Too Much Debt?
May 05
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Dutch (AEX) Market Analysis & Valuation
UpdatedMay 05, 2025
DataAggregated Company Financials
Companies99
- 7D3.4%
- 3M-2.3%
- 1Y-6.6%
- YTD0.2%
The market has climbed by 3.4% over the past week, with every sector up and the Information Technology sector leading the way. Over the past year the market is down 6.6%. Looking forward, earnings are forecast to grow by 11% annually.
Market Valuation and Performance
Has the Dutch Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 05 May 2025 | €989.2b | €542.4b | €57.6b | 17.8x | 17.2x | 1.8x |
| Wed, 02 Apr 2025 | €985.8b | €544.7b | €57.5b | 17.6x | 17.2x | 1.8x |
| Fri, 28 Feb 2025 | €1.1t | €568.1b | €59.2b | 18.4x | 17.8x | 1.9x |
| Sun, 26 Jan 2025 | €1.0t | €565.1b | €51.8b | 16.8x | 19.3x | 1.8x |
| Tue, 24 Dec 2024 | €984.4b | €562.9b | €51.6b | 15.9x | 19.1x | 1.7x |
| Thu, 21 Nov 2024 | €950.3b | €561.5b | €50.6b | 16.7x | 18.8x | 1.7x |
| Sat, 19 Oct 2024 | €1.0t | €563.1b | €52.8b | 18.2x | 19.2x | 1.8x |
| Mon, 16 Sep 2024 | €1.0t | €567.1b | €40.1b | 16.5x | 25.4x | 1.8x |
| Wed, 14 Aug 2024 | €1.0t | €564.5b | €40.2b | 15.3x | 25.2x | 1.8x |
| Fri, 12 Jul 2024 | €1.1t | €560.9b | €41.1b | 16.3x | 27.4x | 2x |
| Sun, 09 Jun 2024 | €1.1t | €561.8b | €44.5b | 17.6x | 25.2x | 2x |
| Tue, 07 May 2024 | €1.1t | €561.8b | €44.4b | 17x | 24.1x | 1.9x |
| Thu, 04 Apr 2024 | €1.0t | €553.0b | €45.5b | 16.5x | 23x | 1.9x |
| Sat, 02 Mar 2024 | €1.0t | €569.4b | €48.7b | 17.3x | 20.8x | 1.8x |
| Mon, 29 Jan 2024 | €968.2b | €592.4b | €60.8b | 16.5x | 15.9x | 1.6x |
| Wed, 27 Dec 2023 | €914.1b | €594.2b | €60.1b | 16.5x | 15.2x | 1.5x |
| Fri, 24 Nov 2023 | €876.2b | €596.9b | €59.3b | 15.6x | 14.8x | 1.5x |
| Sun, 22 Oct 2023 | €790.4b | €593.5b | €51.0b | 15.4x | 15.5x | 1.3x |
| Tue, 19 Sep 2023 | €869.8b | €591.7b | €50.1b | 16.9x | 17.4x | 1.5x |
| Thu, 17 Aug 2023 | €887.3b | €575.7b | €47.3b | 16.9x | 18.8x | 1.5x |
| Sat, 15 Jul 2023 | €940.7b | €579.7b | €51.5b | 16.9x | 18.3x | 1.6x |
| Mon, 12 Jun 2023 | €910.8b | €587.0b | €48.4b | 16.8x | 18.8x | 1.6x |
| Wed, 10 May 2023 | €874.6b | €569.4b | €45.9b | 17.2x | 19.1x | 1.5x |
| Fri, 07 Apr 2023 | €891.2b | €562.0b | €50.4b | 15.6x | 17.7x | 1.6x |
| Sun, 05 Mar 2023 | €902.8b | €556.2b | €44.8b | 16.1x | 20.2x | 1.6x |
| Tue, 31 Jan 2023 | €911.5b | €542.0b | €53.7b | 15.7x | 17x | 1.7x |
| Thu, 29 Dec 2022 | €813.9b | €543.0b | €54.3b | 14.3x | 15x | 1.5x |
| Sat, 26 Nov 2022 | €862.4b | €545.6b | €54.7b | 14.8x | 15.8x | 1.6x |
| Mon, 24 Oct 2022 | €748.7b | €511.9b | €80.2b | 13.2x | 9.3x | 1.5x |
| Wed, 21 Sep 2022 | €772.3b | €511.1b | €73.3b | 12.8x | 10.5x | 1.5x |
| Fri, 19 Aug 2022 | €877.2b | €509.5b | €72.7b | 14.9x | 12.1x | 1.7x |
| Sun, 17 Jul 2022 | €819.8b | €519.9b | €76.1b | 15.1x | 10.8x | 1.6x |
| Tue, 14 Jun 2022 | €850.4b | €515.4b | €76.2b | 14.7x | 11.2x | 1.7x |
| Thu, 12 May 2022 | €873.6b | €529.0b | €75.2b | 15.4x | 11.6x | 1.7x |
Price to Earnings Ratio
11.6x
Current Market PE
- Investors are relatively neutral on the Dutch market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 17.7x.
Past Earnings Growth
- The earnings for Dutch listed companies have declined 8.5% per year over the last three years.
- Meanwhile revenues have been flat.
- This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.
Sector Trends
Which sectors have driven the changes within the Dutch Market?
| NL Market | 3.44% | |
| Consumer Discretionary | 5.94% | |
| Tech | 4.08% | |
| Telecom | 3.79% | |
| Real Estate | 3.71% | |
| Financials | 2.93% | |
| Industrials | 2.74% | |
| Energy | 2.49% | |
| Healthcare | 2.46% | |
| Consumer Staples | 2.31% | |
| Materials | 2.00% | |
| Utilities | 0% | 0 |
Sector PE
- Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 98.1x.
- Analysts are expecting annual earnings growth of 27.2%, which is lower than the prior year's growth of 37.3% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 45% over the next 5 years.
- In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ASML ASML Holding | €608.90 | 4.2% +€9.6b | -28.1% | PE27.5x | Tech | |
| PRX Prosus | €43.22 | 6.3% +€5.8b | 28.4% | PE14x | Consumer Discretionary | |
| INGA ING Groep | €18.27 | 7.7% +€3.8b | 14.1% | PB1.1x | Financials | |
| UMG Universal Music Group | €25.86 | 3.3% +€1.5b | -11.3% | PE22.7x | Telecom | |
| CCEP Coca-Cola Europacific Partners | €79.70 | 2.8% +€992.5m | 20.6% | PE25.8x | Consumer Staples |
