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ASML

ASML Holding ENXTAM:ASML Stock Report

Last Price

€431.90

Market Cap

€171.6b

7D

-3.4%

1Y

-33.1%

Updated

29 Sep, 2022

Data

Company Financials +
ASML fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance4/6
Financial Health5/6
Dividends0/6

ASML Stock Overview

ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography, metrology, and inspection related systems for memory and logic chipmakers.

ASML Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ASML Holding
Historical stock prices
Current Share Price€431.90
52 Week High€777.50
52 Week Low€403.45
Beta1.18
1 Month Change-11.93%
3 Month Change0.15%
1 Year Change-33.13%
3 Year Change95.78%
5 Year Change200.77%
Change since IPO24,542.92%

Recent News & Updates

Sep 10
ASML Holding (AMS:ASML) Has A Rock Solid Balance Sheet

ASML Holding (AMS:ASML) Has A Rock Solid Balance Sheet

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Aug 30
Calculating The Intrinsic Value Of ASML Holding N.V. (AMS:ASML)

Calculating The Intrinsic Value Of ASML Holding N.V. (AMS:ASML)

Today we will run through one way of estimating the intrinsic value of ASML Holding N.V. ( AMS:ASML ) by estimating the...

Aug 19
We Like ASML Holding's (AMS:ASML) Returns And Here's How They're Trending

We Like ASML Holding's (AMS:ASML) Returns And Here's How They're Trending

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...

Jul 28
Do ASML Holding's (AMS:ASML) Earnings Warrant Your Attention?

Do ASML Holding's (AMS:ASML) Earnings Warrant Your Attention?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...

Shareholder Returns

ASMLNL SemiconductorNL Market
7D-3.4%-4.4%-4.1%
1Y-33.1%-32.2%-26.7%

Return vs Industry: ASML underperformed the Dutch Semiconductor industry which returned -29.2% over the past year.

Return vs Market: ASML underperformed the Dutch Market which returned -25.2% over the past year.

Price Volatility

Is ASML's price volatile compared to industry and market?
ASML volatility
ASML Average Weekly Movement5.7%
Semiconductor Industry Average Movement7.0%
Market Average Movement4.7%
10% most volatile stocks in NL Market7.8%
10% least volatile stocks in NL Market2.8%

Stable Share Price: ASML is not significantly more volatile than the rest of Dutch stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: ASML's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198432,627Peter T. F. Wenninkhttps://www.asml.com

ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography, metrology, and inspection related systems for memory and logic chipmakers. The company provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography solutions to manufacture various range of semiconductor nodes and technologies. It also offers metrology and inspection systems, including YieldStar optical metrology solutions to measure the quality of patterns on the wafers; and HMI e-beam solutions to locate and analyze individual chip defects.

ASML Holding Fundamentals Summary

How do ASML Holding's earnings and revenue compare to its market cap?
ASML fundamental statistics
Market Cap€171.55b
Earnings (TTM)€5.62b
Revenue (TTM)€19.19b

30.5x

P/E Ratio

8.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ASML income statement (TTM)
Revenue€19.19b
Cost of Revenue€9.38b
Gross Profit€9.81b
Other Expenses€4.19b
Earnings€5.62b

Last Reported Earnings

Jul 03, 2022

Next Earnings Date

Oct 19, 2022

Earnings per share (EPS)14.15
Gross Margin51.10%
Net Profit Margin29.28%
Debt/Equity Ratio57.7%

How did ASML perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

36%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ASML undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ASML?

Other financial metrics that can be useful for relative valuation.

ASML key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.9x
Enterprise Value/EBITDA25.7x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

How does ASML's PE Ratio compare to its peers?

ASML PE Ratio vs Peers
The above table shows the PE ratio for ASML vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.6x
ASM ASM International
20.1x13.8%€11.4b
BESI BE Semiconductor Industries
12x11.5%€3.5b
AMAT Applied Materials
10.9x2.8%US$72.6b
LRCX Lam Research
11x0.6%US$50.7b
ASML ASML Holding
30.5x21.3%€171.6b

Price-To-Earnings vs Peers: ASML is expensive based on its Price-To-Earnings Ratio (30.5x) compared to the peer average (13.6x).


Price to Earnings Ratio vs Industry

How does ASML's PE Ratio compare vs other companies in the European Semiconductor Industry?

Price-To-Earnings vs Industry: ASML is expensive based on its Price-To-Earnings Ratio (30.5x) compared to the European Semiconductor industry average (21.1x)


Price to Earnings Ratio vs Fair Ratio

What is ASML's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ASML PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.5x
Fair PE Ratio45.8x

Price-To-Earnings vs Fair Ratio: ASML is good value based on its Price-To-Earnings Ratio (30.5x) compared to the estimated Fair Price-To-Earnings Ratio (45.8x).


Share Price vs Fair Value

What is the Fair Price of ASML when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ASML (€431.9) is trading below our estimate of fair value (€823.23)

Significantly Below Fair Value: ASML is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

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

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


21.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASML's forecast earnings growth (21.3% per year) is above the savings rate (0.1%).

Earnings vs Market: ASML's earnings (21.3% per year) are forecast to grow faster than the Dutch market (4.1% per year).

High Growth Earnings: ASML's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ASML's revenue (14.2% per year) is forecast to grow faster than the Dutch market (9.1% per year).

High Growth Revenue: ASML's revenue (14.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASML's Return on Equity is forecast to be very high in 3 years time (74.7%).


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Past Performance

How has ASML Holding performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


24.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ASML has high quality earnings.

Growing Profit Margin: ASML's current net profit margins (29.3%) are higher than last year (28.8%).


Past Earnings Growth Analysis

Earnings Trend: ASML's earnings have grown significantly by 24.4% per year over the past 5 years.

Accelerating Growth: ASML's earnings growth over the past year (17.6%) is below its 5-year average (24.4% per year).

Earnings vs Industry: ASML earnings growth over the past year (17.6%) underperformed the Semiconductor industry 65.7%.


Return on Equity

High ROE: ASML's Return on Equity (73.5%) is considered outstanding.


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Financial Health

How is ASML Holding's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ASML's short term assets (€19.8B) exceed its short term liabilities (€14.6B).

Long Term Liabilities: ASML's short term assets (€19.8B) exceed its long term liabilities (€9.6B).


Debt to Equity History and Analysis

Debt Level: ASML's net debt to equity ratio (0.1%) is considered satisfactory.

Reducing Debt: ASML's debt to equity ratio has increased from 27.5% to 57.7% over the past 5 years.

Debt Coverage: ASML's debt is well covered by operating cash flow (230.9%).

Interest Coverage: ASML's interest payments on its debt are well covered by EBIT (125.8x coverage).


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.27%

Current Dividend Yield

Dividend Yield vs Market

ASML Holding Dividend Yield vs Market
How does ASML Holding dividend yield compare to the market?
SegmentDividend Yield
Company (ASML Holding)1.3%
Market Bottom 25% (NL)2.5%
Market Top 25% (NL)6.8%
Industry Average (Semiconductor)1.3%
Analyst forecast in 3 Years (ASML Holding)1.6%

Notable Dividend: ASML's dividend (1.27%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (2.45%).

High Dividend: ASML's dividend (1.27%) is low compared to the top 25% of dividend payers in the Dutch market (7.11%).


Stability and Growth of Payments

Stable Dividend: ASML is not paying a notable dividend for the Dutch market, therefore no need to check if payments are stable.

Growing Dividend: ASML is not paying a notable dividend for the Dutch market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: ASML is not paying a notable dividend for the Dutch market.


Cash Payout to Shareholders

Cash Flow Coverage: ASML is not paying a notable dividend for the Dutch market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

9.2yrs

Average management tenure


CEO

Peter T. F. Wennink (65 yo)

23.17yrs

Tenure

€4,820,000

Compensation

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 Int...


CEO Compensation Analysis

Peter T. F. Wennink's Compensation vs ASML Holding Earnings
How has Peter T. F. Wennink's remuneration changed compared to ASML Holding's earnings?
DateTotal Comp.SalaryCompany Earnings
Jul 03 2022n/an/a

€6b

Apr 03 2022n/an/a

€5b

Dec 31 2021€5m€1m

€6b

Oct 03 2021n/an/a

€5b

Jul 04 2021n/an/a

€5b

Apr 04 2021n/an/a

€4b

Dec 31 2020€5m€1m

€4b

Sep 27 2020n/an/a

€3b

Jun 28 2020n/an/a

€3b

Mar 29 2020n/an/a

€3b

Dec 31 2019€4m€1m

€3b

Sep 29 2019n/an/a

€2b

Jun 30 2019n/an/a

€2b

Mar 31 2019n/an/a

€2b

Dec 31 2018€3m€978k

€3b

Sep 30 2018n/an/a

€2b

Jul 01 2018n/an/a

€2b

Apr 01 2018n/an/a

€2b

Dec 31 2017€3m€978k

€2b

Oct 01 2017n/an/a

€2b

Jul 02 2017n/an/a

€2b

Apr 02 2017n/an/a

€2b

Dec 31 2016€3m€978k

€2b

Oct 02 2016n/an/a

€1b

Jul 03 2016n/an/a

€1b

Apr 03 2016n/an/a

€1b

Dec 31 2015€4m€954k

€2b

Compensation vs Market: Peter T. F.'s total compensation ($USD4.71M) is about average for companies of similar size in the Dutch market ($USD4.65M).

Compensation vs Earnings: Peter T. F.'s compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ASML's management team is seasoned and experienced (9.2 years average tenure).


Board Members

Experienced Board: ASML's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ENXTAM:ASML Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
24 Jan 22Sell€2,344,542Frederic J. Schneider-MaunouryIndividual3,842€610.24
24 Jan 22Sell€3,792,031Peter T. F. WenninkIndividual6,214€610.24
24 Jan 22Sell€7,527,310Roger J. DassenIndividual12,335€610.24
24 Jan 22Sell€3,792,031Martin van den BrinkIndividual6,214€610.24
24 Jan 22Sell€2,344,542Christophe FouquetIndividual3,842€610.24
20 Jan 22Sell€5,169,281Martin van den BrinkIndividual8,255€626.20
19 Jan 22Sell€1,005,842Peter T. F. WenninkIndividual1,550€648.93
19 Jan 22Sell€2,598,880Frederic J. Schneider-MaunouryIndividual4,000€649.72
19 Jan 22Sell€919,821Christophe FouquetIndividual1,415€650.05
22 Nov 21Sell€15,220Birgit ConixIndividual20€761.00

Ownership Breakdown

What is the ownership structure of ASML?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders97,9860.02%
General Public185,138,21046.6%
Institutions211,963,80453.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 32.92% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.45%
BlackRock, Inc.
25,613,315€11.1b-25.42%0.28%
3.81%
T. Rowe Price Group, Inc.
15,137,225€6.5b-36.07%0.78%
3.65%
The Vanguard Group, Inc.
14,517,546€6.3b1.51%0.15%
2.74%
Capital Research and Management Company
10,871,744€4.7b-8.48%0.33%
2.29%
Norges Bank Investment Management
9,108,714€3.9b0%0.54%
2.25%
FMR LLC
8,927,641€3.9b4.02%0.37%
1.23%
Fisher Asset Management, LLC
4,883,378€2.1b3.73%1.57%
0.82%
WCM Investment Management, LLC
3,245,210€1.4b-5.52%3.24%
0.8%
Amundi Asset Management
3,170,598€1.4b-2.8%0.43%
0.75%
Morgan Stanley Investment Management Inc.
2,998,116€1.3b-3.49%1.02%
0.74%
Edgewood Management LLC
2,919,498€1.3b23.64%4.01%
0.71%
State Farm Insurance Companies, Asset Management Arm
2,834,225€1.2b0%1.42%
0.64%
J.P. Morgan Asset Management, Inc.
2,547,345€1.1b-2.73%0.21%
0.63%
Deutsche Asset & Wealth Management
2,520,728€1.1b0%0.48%
0.62%
Janus Henderson Group plc
2,445,041€1.1b4.46%0.6%
0.6%
Massachusetts Financial Services Company
2,384,068€1.0b0.94%0.27%
0.59%
Geode Capital Management, LLC
2,326,622€1.0b2.53%0.13%
0.54%
Sands Capital Management, LLC
2,134,447€921.9m1.23%2.9%
0.54%
UBS Asset Management
2,125,343€917.9m-0.52%0.18%
0.5%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
1,977,346€854.0m0.09%0.3%
0.48%
Franklin Resources, Inc.
1,896,016€818.9m-16.2%0.36%
0.43%
Van Eck Associates Corporation
1,694,999€732.1m61.18%1.56%
0.4%
Comgest S.A.
1,590,203€686.8m-0.16%3.39%
0.36%
ClearBridge Investments, LLC
1,447,707€625.3m1.32%0.59%
0.36%
Union Asset Management Holding AG
1,424,283€615.1m0.23%0.73%

Company Information

ASML Holding N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: ASML Holding N.V.
  • Ticker: ASML
  • Exchange: ENXTAM
  • Founded: 1984
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: €171.551b
  • Shares outstanding: 397.20m
  • Website: https://www.asml.com

Number of Employees


Location

  • ASML Holding N.V.
  • De Run 6501
  • Veldhoven
  • Noord-Brabant
  • 5504 DR
  • Netherlands


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASML.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ASMLENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJan 1992
ASMEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
ASMLABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
0QB8LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ASMEXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
ASMLWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
ASML NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
ASMLBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
ASMEBUL (Bulgaria Stock Exchange)YesOrdinary SharesBGEURJan 1992
ASMLNasdaqGS (Nasdaq Global Select)EUR0.09 NY REGISTRY SHS 2012USUSDMar 1995
ASMFDB (Deutsche Boerse AG)EUR0.09 NY REGISTRY SHS 2012DEEURMar 1995
ASMNWBAG (Wiener Boerse AG)EUR0.09 NY REGISTRY SHS 2012ATEURMar 1995
ASML34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REPR 1 ADRBRBRLSep 2022

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/07/03
Annual Earnings2021/12/31


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.