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ASML Holding

ENXTAM:ASML
Snowflake Description

Outstanding track record with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASML
ENXTAM
€75B
Market Cap
  1. Home
  2. NL
  3. Semiconductors
Company description

ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography related systems primarily in the Netherlands, the United States, and Asia. The last earnings update was 70 days ago. More info.


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ASML Share Price and Events
7 Day Returns
2.3%
ENXTAM:ASML
1.2%
Europe Semiconductor
-0.2%
NL Market
1 Year Returns
4.8%
ENXTAM:ASML
-12.2%
Europe Semiconductor
0.8%
NL Market
ASML Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ASML Holding (ASML) 2.3% 3.6% 9.6% 4.8% 107.3% 160.9%
Europe Semiconductor 1.2% 0.7% 5.4% -12.2% 73.8% 81.3%
NL Market -0.2% 1.3% 2.3% 0.8% 28.4% 24%
1 Year Return vs Industry and Market
  • ASML outperformed the Semiconductor industry which returned -12.2% over the past year.
  • ASML outperformed the Market in Netherlands which returned 0.8% over the past year.
Price Volatility
ASML
Industry
5yr Volatility vs Market

Value

 Is ASML Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ASML Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ASML Holding.

ENXTAM:ASML Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 31 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year NL Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTAM:ASML
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NL Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.226 (1 + (1- 25%) (4.09%))
1.177
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.37% + (1.177 * 5.96%)
7.38%

Discounted Cash Flow Calculation for ENXTAM:ASML using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for ASML Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTAM:ASML DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.38%)
2019 2,110.58 Analyst x13 1,965.48
2020 3,299.64 Analyst x17 2,861.54
2021 3,449.62 Analyst x7 2,785.94
2022 3,278.50 Analyst x2 2,465.71
2023 3,771.50 Analyst x2 2,641.48
2024 3,870.99 Est @ 2.64% 2,524.77
2025 3,946.76 Est @ 1.96% 2,397.22
2026 4,005.22 Est @ 1.48% 2,265.48
2027 4,051.19 Est @ 1.15% 2,133.95
2028 4,088.24 Est @ 0.91% 2,005.42
Present value of next 10 years cash flows €24,046.99
ENXTAM:ASML DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €4,088.24 × (1 + 0.37%) ÷ (7.38% – 0.37%)
€58,515.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €58,515.64 ÷ (1 + 7.38%)10
€28,703.81
ENXTAM:ASML Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €24,046.99 + €28,703.81
€52,750.80
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €52,750.80 / 420.94
€125.32
ENXTAM:ASML Discount to Share Price
Calculation Result
Value per share (EUR) From above. €125.32
Current discount Discount to share price of €179.00
= -1 x (€179.00 - €125.32) / €125.32
-42.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of ASML Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ASML Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ASML Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTAM:ASML PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €5.69
ENXTAM:ASML Share Price ** ENXTAM (2019-06-26) in EUR €179
Europe Semiconductor Industry PE Ratio Median Figure of 27 Publicly-Listed Semiconductor Companies 23.72x
Netherlands Market PE Ratio Median Figure of 82 Publicly-Listed Companies 17.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ASML Holding.

ENXTAM:ASML PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:ASML Share Price ÷ EPS (both in EUR)

= 179 ÷ 5.69

31.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASML Holding is overvalued based on earnings compared to the Europe Semiconductor industry average.
  • ASML Holding is overvalued based on earnings compared to the Netherlands market.
Price based on expected Growth
Does ASML Holding's expected growth come at a high price?
Raw Data
ENXTAM:ASML PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts
26.3%per year
Europe Semiconductor Industry PEG Ratio Median Figure of 20 Publicly-Listed Semiconductor Companies 1.4x
Netherlands Market PEG Ratio Median Figure of 66 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

ENXTAM:ASML PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.48x ÷ 26.3%

1.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASML Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ASML Holding's assets?
Raw Data
ENXTAM:ASML PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €28.42
ENXTAM:ASML Share Price * ENXTAM (2019-06-26) in EUR €179
Europe Semiconductor Industry PB Ratio Median Figure of 39 Publicly-Listed Semiconductor Companies 1.78x
Netherlands Market PB Ratio Median Figure of 104 Publicly-Listed Companies 1.93x
ENXTAM:ASML PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:ASML Share Price ÷ Book Value per Share (both in EUR)

= 179 ÷ 28.42

6.3x

* Primary Listing of ASML Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASML Holding is overvalued based on assets compared to the Europe Semiconductor industry average.
X
Value checks
We assess ASML Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. ASML Holding has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is ASML Holding expected to perform in the next 1 to 3 years based on estimates from 31 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
26.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ASML Holding expected to grow at an attractive rate?
  • ASML Holding's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • ASML Holding's earnings growth is expected to exceed the Netherlands market average.
  • ASML Holding's revenue growth is expected to exceed the Netherlands market average.
Annual Growth Rates Comparison
Raw Data
ENXTAM:ASML Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTAM:ASML Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts 26.3%
ENXTAM:ASML Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 31 Analysts 8.5%
Europe Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 23%
Europe Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 8.1%
Netherlands Market Earnings Growth Rate Market Cap Weighted Average 9%
Netherlands Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTAM:ASML Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTAM:ASML Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 16,096 3,447 2
2022-12-31 14,961 2,823 2
2021-12-31 14,076 4,156 4,132 16
2020-12-31 12,902 3,813 3,471 31
2019-12-31 11,689 2,601 2,495 29
ENXTAM:ASML Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 10,888 2,407 2,407
2018-12-31 10,944 3,073 2,592
2018-09-30 10,272 2,405 2,355
2018-07-01 9,943 2,313 2,231
2018-04-01 9,304 2,090 2,146
2017-12-31 8,963 1,818 2,067
2017-10-01 8,400 2,054 2,006
2017-07-02 7,767 1,752 1,874
2017-04-02 7,405 1,907 1,787
2016-12-31 6,875 1,666 1,558
2016-10-02 6,322 1,849 1,371
2016-07-03 6,056 2,257 1,329
2016-04-03 5,971 2,033 1,380

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ASML Holding's earnings are expected to grow significantly at over 20% yearly.
  • ASML Holding's revenue is expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTAM:ASML Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below

All data from ASML Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:ASML Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 10.45 11.45 7.57 7.00
2020-12-31 8.38 9.98 6.86 23.00
2019-12-31 5.94 6.49 4.88 22.00
ENXTAM:ASML Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 5.69
2018-12-31 6.10
2018-09-30 5.55
2018-07-01 5.25
2018-04-01 5.02
2017-12-31 4.81
2017-10-01 4.67
2017-07-02 4.38
2017-04-02
2016-12-31 3.66
2016-10-02 3.22
2016-07-03 3.11
2016-04-03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ASML Holding is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess ASML Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ASML Holding has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has ASML Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ASML Holding's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ASML Holding's year on year earnings growth rate has been positive over the past 5 years.
  • ASML Holding's 1-year earnings growth exceeds its 5-year average (12.2% vs 12.1%)
  • ASML Holding's earnings growth has exceeded the Europe Semiconductor industry average in the past year (12.2% vs -16.3%).
Earnings and Revenue History
ASML Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ASML Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:ASML Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 10,888.10 2,407.30 494.80 1,691.50
2018-12-31 10,944.00 2,591.60 488.00 1,575.90
2018-09-30 10,271.80 2,354.50 466.10 1,538.70
2018-07-01 9,943.10 2,231.20 447.60 1,456.90
2018-04-01 9,304.10 2,145.50 432.20 1,379.40
2017-12-31 8,962.70 2,066.70 416.60 1,259.70
2017-10-01 8,399.80 2,005.70 392.00 1,133.70
2017-07-02 7,767.02 1,874.08 377.46 995.62
2017-04-02 7,405.20 1,787.00 365.80 757.10
2016-12-31 6,875.10 1,557.80 374.80 1,105.80
2016-10-02 6,321.58 1,370.99 357.33 717.16
2016-07-03 6,056.20 1,329.45 353.79 720.29
2016-04-03 5,970.68 1,380.29 351.33 745.16
2015-12-31 6,287.40 1,619.50 345.30 710.20
2015-09-27 6,347.18 1,660.22 334.67 653.75
2015-06-28 6,120.16 1,574.47 324.57 658.81
2015-03-29 6,109.68 1,605.02 314.97 670.75
2014-12-31 5,856.28 1,418.32 318.67 719.45
2014-09-28 6,210.63 1,564.34 321.34 759.87
2014-06-29 6,206.60 1,489.91 336.31 737.57
2014-03-30 5,749.73 1,321.44 327.24 665.57
2013-12-31 5,245.33 1,193.84 303.54 554.47
2013-09-29 4,420.16 827.62 291.80 753.08
2013-06-30 4,330.69 1,082.45 279.53 360.07
2013-03-31 4,371.76 1,176.05 262.08 248.25
2012-12-31 4,731.56 1,302.35 254.78 291.85
2012-09-30 4,919.48 1,218.27 230.67 440.61
2012-07-01 5,149.10 1,298.80 217.16 446.54

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ASML Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • ASML Holding used its assets more efficiently than the Europe Semiconductor industry average last year based on Return on Assets.
  • ASML Holding has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ASML Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ASML Holding has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is ASML Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up ASML Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ASML Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ASML Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ASML Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ASML Holding Company Filings, last reported 2 months ago.

ENXTAM:ASML Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 11,965.70 3,082.50 3,275.10
2018-12-31 11,641.00 3,058.50 4,063.20
2018-09-30 11,154.00 2,985.90 2,947.50
2018-07-01 12,279.40 3,057.80 2,980.00
2018-04-01 12,479.70 3,067.00 3,194.10
2017-12-31 10,776.40 3,088.60 3,316.70
2017-10-01 11,553.30 3,100.20 2,677.60
2017-07-02 11,228.13 3,092.61 2,514.16
2017-04-02 11,449.90 3,335.80 3,835.60
2016-12-31 11,028.70 3,355.80 4,087.40
2016-10-02 9,690.60 2,641.80 4,313.00
2016-07-03 9,299.52 1,156.67 2,926.05
2016-04-03 9,429.40 1,149.90 3,138.40
2015-12-31 9,491.15 1,132.40 3,445.27
2015-09-27 9,191.80 1,131.60 2,680.90
2015-06-28 8,951.57 1,122.26 2,519.97
2015-03-29 9,019.40 1,162.40 2,838.50
2014-12-31 8,365.93 1,157.72 2,780.76
2014-09-28 8,090.90 1,140.70 2,684.60
2014-06-29 7,781.12 1,121.69 2,710.66
2014-03-30 7,711.80 1,100.20 2,997.80
2013-12-31 7,544.80 1,073.74 3,034.78
2013-09-29 7,204.70 1,079.60 2,723.70
2013-06-30 7,050.72 736.76 2,350.62
2013-03-31 4,172.10 746.60 2,620.10
2012-12-31 4,498.20 761.28 2,724.78
2012-09-30 6,905.72 749.91 6,158.77
2012-07-01 3,595.50 741.80 2,701.80
  • ASML Holding's level of debt (24.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (14.3% vs 24.6% today).
  • Debt is well covered by operating cash flow (81.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 103.4x coverage).
X
Financial health checks
We assess ASML Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. ASML Holding has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is ASML Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.17%
Current annual income from ASML Holding dividends. Estimated to be 1.37% next year.
If you bought €2,000 of ASML Holding shares you are expected to receive €23 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ASML Holding's pays a lower dividend yield than the bottom 25% of dividend payers in Netherlands (2.24%).
  • ASML Holding's dividend is below the markets top 25% of dividend payers in Netherlands (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTAM:ASML Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
Europe Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.6%
Netherlands Market Average Dividend Yield Market Cap Weighted Average of 69 Stocks 3.9%
Netherlands Minimum Threshold Dividend Yield 10th Percentile 1.6%
Netherlands Bottom 25% Dividend Yield 25th Percentile 2.2%
Netherlands Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTAM:ASML Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.03 12.00
2020-12-31 2.47 22.00
2019-12-31 2.12 22.00
ENXTAM:ASML Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-06 2.100 1.228
2019-01-23 2.100 1.367
2018-02-07 1.400 0.873
2018-01-17 1.400 0.863
2017-04-26 1.200 0.896
2016-01-20 1.050 1.101
2015-04-08 0.700 0.807
2014-02-12 0.610 0.822
2014-01-22 0.610 0.954
2013-01-17 0.530 0.853
2012-04-25 0.460 1.077
2011-04-04 0.400 1.382
2010-01-29 0.200 0.797
2010-01-20 0.200 0.863
2009-03-27 0.200 1.126

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ASML Holding is not paying a notable dividend for Netherlands, therefore no need to check if the payments are stable.
  • ASML Holding is not paying a notable dividend for Netherlands, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of ASML Holding's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of ASML Holding's dividends as it is not paying a notable one for Netherlands.
Future Payout to shareholders
  • No need to calculate the sustainability of ASML Holding's dividends in 3 years as they are not expected to pay a notable one for Netherlands.
X
Income/ dividend checks
We assess ASML Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ASML Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ASML Holding has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of ASML Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter T. F. Wennink
COMPENSATION €3,540,890
AGE 61
TENURE AS CEO 5.9 years
CEO Bio

Mr. Peter T. F. M. Wennink has been the Chief Executive Officer and President at ASML Holding NV. since July 1, 2013 and its Member of Management Board since July 1, 1999. Mr. Wennink was previously an Interim Chief Financial Officer from July 1, 2013 to November 17, 2013, the Chief Financial Officer and Executive Vice President from January 1, 1999 to July 1, 2013 and a Principal Accounting Officer. He serves as Chairman of the Board of Management at ASML Holding NV. He serves as Member of the Board of Management at ASML Netherlands B.V. Previously, he served as a Partner at Deloitte & Touche, specializing in the high technology industry with an emphasis on the semiconductor equipment industry. He has an extensive background in finance and accounting. He serves as a Member of Supervisory Board at Bank Insinger de Beaufort N.V. Mr. Wennink is a member of the Netherlands Institute of Registered Accountants.

CEO Compensation
  • Peter T. F.'s compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter T. F.'s remuneration is about average for companies of similar size in Netherlands.
Management Team Tenure

Average tenure and age of the ASML Holding management team in years:

5.9
Average Tenure
57.5
Average Age
  • The average tenure for the ASML Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter T. F. Wennink

TITLE
President
COMPENSATION
€4M
AGE
61
TENURE
5.9 yrs

Martin van den Brink

TITLE
President
COMPENSATION
€4M
AGE
61
TENURE
5.9 yrs

Roger Dassen

TITLE
Executive VP
COMPENSATION
€1M
AGE
53
TENURE
1 yrs

Frits van Hout

TITLE
Executive VP
COMPENSATION
€2M
AGE
58
TENURE
10.3 yrs

Frederic J. Schneider-Maunoury

TITLE
Executive VP
COMPENSATION
€2M
AGE
57
TENURE
9.4 yrs

Christophe Fouquet

TITLE
Executive VP of EUV & Member of Management Board
COMPENSATION
€1M
AGE
45
TENURE
1.2 yrs

Skip Miller

TITLE
Vice President of Investor Relations

Jim Koonmen

TITLE
Executive VP of Applications Business

Ron Kool

TITLE
Executive Vice President of Business Line DUV

Robert Roelofs

TITLE
Company Secretary
TENURE
17.4 yrs
Board of Directors Tenure

Average tenure and age of the ASML Holding board of directors in years:

4.2
Average Tenure
65
Average Age
  • The tenure for the ASML Holding board of directors is about average.
Board of Directors

Gerard Kleisterlee

TITLE
Chairman of Supervisory Board
COMPENSATION
€138K
AGE
72
TENURE
3.2 yrs

Doug Grose

TITLE
Vice Chairman of the Supervisory Board
COMPENSATION
€115K
AGE
68

Carla Smits-Nusteling

TITLE
Member of the Supervisory Board
COMPENSATION
€80K
AGE
52
TENURE
6.2 yrs

Rolf-Dieter Schwalb

TITLE
Member of the Supervisory Board
COMPENSATION
€88K
AGE
66
TENURE
4.2 yrs

Wolfgang Ziebart

TITLE
Member of the Supervisory Board
COMPENSATION
€82K
AGE
68
TENURE
10.3 yrs

Hans Stork

TITLE
Member of the Supervisory Board
COMPENSATION
€100K
AGE
64
TENURE
5.2 yrs

Annet Aris

TITLE
Member of the Supervisory Board
COMPENSATION
€80K
AGE
60
TENURE
4.2 yrs

Terri Kelly

TITLE
Member of the Supervisory Board
COMPENSATION
€60K
AGE
57
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • ASML Holding individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. May 19 Sell Frederic J. Schneider-Maunoury Individual 03. May 19 03. May 19 -6,150 €185.34 €-569,921
03. May 19 Sell Frits van Hout Individual 03. May 19 03. May 19 -8,776 €185.34 €-813,272
03. May 19 Sell Martin van den Brink Individual 03. May 19 03. May 19 -12,986 €185.34 €-1,203,413
03. May 19 Sell Peter T. F. Wennink Individual 03. May 19 03. May 19 -12,986 €185.34 €-1,203,413
22. Nov 18 Buy Martin van den Brink Individual 22. Nov 18 22. Nov 18 3,500 €143.40 €501,900
19. Nov 18 Buy Martin van den Brink Individual 19. Nov 18 19. Nov 18 6,800 €146.20 €994,160
15. Nov 18 Buy Peter T. F. Wennink Individual 15. Nov 18 15. Nov 18 6,600 €151.42 €999,372
14. Nov 18 Buy Frits van Hout Individual 14. Nov 18 14. Nov 18 500 €151.02 €75,510
X
Management checks
We assess ASML Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. ASML Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Should Investors Feel About ASML Holding N.V.'s (AMS:ASML) CEO Pay?

See our latest analysis for ASML Holding How Does Peter T. … I think that the total shareholder return of 114%, over three years, would leave most ASML Holding N.V. … Important note: ASML Holding may not be the best stock to buy.

Simply Wall St -

Should ASML Holding N.V. (AMS:ASML) Be Your Next Stock Pick?

If you're interested in understanding beyond my broad commentary, take a look at the report on ASML Holding here. … Outstanding track record with high growth potential One reason why investors are attracted to ASML is its earnings growth potential in the near future of 26% which is expected to flow into an impressive return on equity of 25% over the next couple of years. … Dividend Income vs Capital Gains: Does ASML return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?

Simply Wall St -

How Many ASML Holding N.V. (AMS:ASML) Shares Do Institutions Own?

A look at the shareholders of ASML Holding N.V. … See our latest analysis for ASML Holding ENXTAM:ASML Ownership Summary, May 28th 2019 What Does The Institutional Ownership Tell Us About ASML Holding? … Insider Ownership Of ASML Holding The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Are Insiders Buying ASML Holding N.V. (AMS:ASML) Stock?

So we'll take a look at whether insiders have been buying or selling shares in ASML Holding N.V. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for ASML Holding The Last 12 Months Of Insider Transactions At ASML Holding The President, Peter T. … ASML Holding Insiders Are Selling The Stock Over the last three months, we've seen significant insider selling at ASML Holding.

Simply Wall St -

Here's Why I Think ASML Holding (AMS:ASML) Is An Interesting Stock

In contrast to all that, I prefer to spend time on companies like ASML Holding (AMS:ASML), which has not only revenues, but also profits. … I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). … On the one hand, ASML Holding's EBIT margins fell over the last year, but on the other hand, revenue grew.

Simply Wall St -

Does ASML Holding N.V.'s (AMS:ASML) 12% Earnings Growth Make It An Outperformer?

Today I will assess ASML's recent performance announced on 31 March 2019 and compare these figures to its long-term trend and industry movements. … Did ASML beat its long-term earnings growth trend and its industry. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 12%, indicating the rate at which ASML is growing has accelerated

Simply Wall St -

Should You Be Excited About ASML Holding N.V.'s (AMS:ASML) 22% Return On Equity?

Our data shows ASML Holding has a return on equity of 22% for the last year. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is It Too Late To Buy ASML Holding N.V. (AMS:ASML) At Its April Price?

(AMS:ASML) is considered a high-growth stock, but its last closing price of €179.32 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … ASML Holding is poised for significantly high earnings growth in the near future

Simply Wall St -

Is It Too Late To Consider Buying ASML Holding N.V. (AMS:ASML)?

led the ENXTAM gainers with a relatively large price hike in the past couple of weeks. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, could the stock still be trading at a relatively cheap price?

Simply Wall St -

What Does ASML Holding N.V.'s (AMS:ASML) P/E Ratio Tell You?

To keep it practical, we'll show how ASML Holding N.V.'s (AMS:ASML) P/E ratio could help you assess the value on offer. … ASML Holding has a P/E ratio of 27.38, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography related systems primarily in the Netherlands, the United States, and Asia. It sells Holistic Lithography solutions, which integrate its three categories of products, including DUV lithography, EUV lithography, and Applications. The company offers TWINSCAN N)XT (DUV) systems for imaging wafers, which consists of systems that operate at a specific wavelength of the light source, such as i-line, krypton fluoride, and argon fluoride. It also provides TWINSCAN NXE (EUV) lithography systems, which are equipped with new EUV light source technology and a new optical technology that uses reflective mirrors rather than the traditional lenses; and scanner products with a applications portfolio of software and metrology and inspection products. The company was formerly known as ASM Lithography Holding N.V. and changed its name to ASML Holding N.V. in 2001. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands.

Details
Name: ASML Holding N.V.
ASML
Exchange: ENXTAM
Founded: 1984
€75,348,883,278
420,943,482
Website: http://www.asml.com
Address: ASML Holding N.V.
De Run 6501,
Veldhoven,
Noord-Brabant, 5504 DR,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM ASML Ordinary Shares Euronext Amsterdam NL EUR 02. Jan 1992
OTCPK ASML.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB ASME Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA ASME Ordinary Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0QB8 Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX ASML Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BIT ASML Ordinary Shares Borsa Italiana IT EUR 02. Jan 1992
WBAG ASML Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BMV ASML N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE ASMLA Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
NasdaqGS ASML EUR0.09 NY REG 2012 Nasdaq Global Select US USD 15. Mar 1995
DB ASMF EUR0.09 NY REG 2012 Deutsche Boerse AG DE EUR 15. Mar 1995
Number of employees
Current staff
Staff numbers
21,461
ASML Holding employees.
Industry
Semiconductor Equipment
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 20:48
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/20
Last earnings filing: 2019/04/17
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.