ENXTAM:ASML

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has ASML Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.5%

ASML

-2.9%

NL Semiconductor

-0.2%

NL Market


1 Year Return

48.2%

ASML

31.4%

NL Semiconductor

5.1%

NL Market

Return vs Industry: ASML exceeded the Dutch Semiconductor industry which returned 31.4% over the past year.

Return vs Market: ASML exceeded the Dutch Market which returned 5.1% over the past year.


Shareholder returns

ASMLIndustryMarket
7 Day-3.5%-2.9%-0.2%
30 Day0%-1.4%-1.1%
90 Day14.3%11.5%-1.5%
1 Year49.9%48.2%33.1%31.4%9.7%5.1%
3 Year144.2%137.0%91.4%84.1%39.6%24.1%
5 Year220.8%205.3%156.7%139.2%66.1%32.6%

Price Volatility Vs. Market

How volatile is ASML Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ASML Holding undervalued compared to its fair value and its price relative to the market?

42.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: ASML (€228) is trading above our estimate of fair value (€144.67)

Significantly Undervalued: ASML is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ASML is poor value based on its PE Ratio (42.8x) compared to the Semiconductor industry average (24.5x).

PE vs Market: ASML is poor value based on its PE Ratio (42.8x) compared to the Dutch market (19.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: ASML is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: ASML is overvalued based on its PB Ratio (7.9x) compared to the XE Semiconductor industry average (2.4x).


Next Steps

Future Growth

How is ASML Holding forecast to perform in the next 1 to 3 years based on estimates from 33 analysts?

19.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASML's forecast earnings growth (19.2% per year) is above the savings rate (0.4%).

Earnings vs Market: ASML's earnings (19.2% per year) are forecast to grow faster than the Dutch market (12% per year).

High Growth Earnings: ASML's earnings are forecast to grow, but not significantly.

Revenue vs Market: ASML's revenue (10.2% per year) is forecast to grow faster than the Dutch market (5.9% per year).

High Growth Revenue: ASML's revenue (10.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: ASML's Return on Equity is forecast to be high in 3 years time (28%)


Next Steps

Past Performance

How has ASML Holding performed over the past 5 years?

11.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ASML's earnings have grown by 11.9% per year over the past 5 years.

Accelerating Growth: ASML's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ASML had negative earnings growth (-6.2%) over the past year, making it difficult to compare to the Semiconductor industry average (-4.8%).


Return on Equity

High ROE: ASML's Return on Equity (18.6%) is considered low.


Return on Assets

ROA vs Industry: ASML has a higher Return on Assets than the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: ASML has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is ASML Holding's financial position?


Financial Position Analysis

Short Term Liabilities: ASML's short term assets (€10.1B) exceeds its short term liabilities (€3.7B)

Long Term Liabilities: ASML's short term assets (10.1B) exceeds its long term liabilities (4.9B)


Debt to Equity History and Analysis

Debt Level: ASML's debt to equity ratio (25.1%) is considered satisfactory

Reducing Debt: ASML's debt to equity ratio has increased from 14.1% to 25.1% over the past 5 years.

Debt Coverage: ASML's debt is well covered by operating cash flow (44%).

Interest Coverage: ASML's interest payments on its debt are well covered by EBIT (84.4x coverage).


Balance Sheet

Inventory Level: ASML has a high level of physical assets or inventory.

Debt Coverage by Assets: ASML's debt is covered by short term assets (assets are 3.331380x debt).


Next Steps

Dividend

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

0.92%

Current Dividend Yield


Upcoming Dividend Payment

Purchase ASML Holding before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company0.9%marketbottom25%2.2%markettop25%6.0%industryaverage1.3%forecastin3Years1.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ASML's dividend (0.92%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (2.23%).

High Dividend: ASML's dividend (0.92%) is low compared to the top 25% of dividend payers in the Dutch market (5.97%).

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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ASML's dividend in 3 years as they are not forecast to pay a notable one for the Dutch market.


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Peter T. F. Wennink (62yo)

6.3yrs

Tenure

€3,540,890

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 In ...


CEO Compensation Analysis

Compensation vs. Market: Peter T. F.'s total compensation ($USD3.94M) is about average for companies of similar size in the Dutch market ($USD3.94M).

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


Management Age and Tenure

6.3yrs

Average Tenure

58.5yo

Average Age

Experienced Management: ASML's management team is seasoned and experienced (6.3 years average tenure).


Board Age and Tenure

4.5yrs

Average Tenure

66yo

Average Age

Experienced Board: ASML's board of directors are considered experienced (4.5 years average tenure).


Insider Trading

Insider Buying: ASML insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sell€1,007,00029 Aug 19
Frits van Hout
EntityIndividual
Role
Member of Management Board
Executive VP
Shares5,035
Max Price€200.00
Sell€1,000,00029 Aug 19
Frederic J. Schneider-Maunoury
EntityIndividual
Role
Member of Management Board
Executive VP
Shares5,000
Max Price€200.00
Sell€965,95006 Aug 19
Frederic J. Schneider-Maunoury
EntityIndividual
Role
Member of Management Board
Executive VP
Shares5,000
Max Price€193.19
Sell€569,92103 May 19
Frederic J. Schneider-Maunoury
EntityIndividual
Role
Member of Management Board
Executive VP
Shares6,150
Max Price€185.34
Sell€1,203,41303 May 19
Martin van den Brink
EntityIndividual
Role
Co-President
President
Shares12,986
Max Price€185.34
Sell€1,203,41303 May 19
Peter T. F. Wennink
EntityIndividual
Role
Chief Executive Officer
President
Shares12,986
Max Price€185.34
Sell€813,27203 May 19
Frits van Hout
EntityIndividual
Role
Member of Management Board
Executive VP
Shares8,776
Max Price€185.34
Buy€501,90022 Nov 18
Martin van den Brink
EntityIndividual
Role
Co-President
President
Shares3,500
Max Price€143.40
Buy€994,16019 Nov 18
Martin van den Brink
EntityIndividual
Role
Co-President
President
Shares6,800
Max Price€146.20
Buy€999,37215 Nov 18
Peter T. F. Wennink
EntityIndividual
Role
Chief Executive Officer
President
Shares6,600
Max Price€151.42
Buy€75,51014 Nov 18
Frits van Hout
EntityIndividual
Role
Member of Management Board
Executive VP
Shares500
Max Price€151.02

Ownership Breakdown


Management Team

  • Martin van den Brink (62yo)

    President

    • Tenure: 6.3yrs
    • Compensation: €3.54m
  • Peter T. F. Wennink (62yo)

    President

    • Tenure: 6.3yrs
    • Compensation: €3.54m
  • Jim Koonmen

    Executive VP of Applications Business

    • Tenure: 0yrs
  • Frits van Hout (59yo)

    Executive VP

    • Tenure: 10.6yrs
    • Compensation: €2.23m
  • Robert Roelofs

    Company Secretary

    • Tenure: 17.8yrs
  • Frederic J. Schneider-Maunoury (58yo)

    Executive VP

    • Tenure: 9.6yrs
    • Compensation: €2.23m
  • Roger Dassen (54yo)

    Executive VP

    • Tenure: 1.3yrs
    • Compensation: €1.19m
  • Skip Miller

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Christophe Fouquet (46yo)

    Executive VP of EUV & Member of Management Board

    • Tenure: 1.5yrs
    • Compensation: €1.14m
  • Ron Kool

    Executive Vice President of Business Line DUV

    • Tenure: 0yrs

Board Members

  • Gerard Kleisterlee (73yo)

    Chairman of Supervisory Board

    • Tenure: 3.5yrs
    • Compensation: €138.00k
  • Wolfgang Ziebart (69yo)

    Member of the Supervisory Board

    • Tenure: 10.6yrs
    • Compensation: €82.00k
  • Hans Stork (65yo)

    Member of the Supervisory Board

    • Tenure: 5.5yrs
    • Compensation: €100.00k
  • Doug Grose (69yo)

    Vice Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €115.00k
  • Rolf-Dieter Schwalb (67yo)

    Member of the Supervisory Board

    • Tenure: 4.5yrs
    • Compensation: €88.00k
  • Annet Aris (61yo)

    Member of the Supervisory Board

    • Tenure: 4.5yrs
    • Compensation: €80.00k
  • Carla Smits-Nusteling (53yo)

    Member of the Supervisory Board

    • Tenure: 6.5yrs
    • Compensation: €80.00k
  • Terri Kelly (58yo)

    Member of the Supervisory Board

    • Tenure: 1.5yrs
    • Compensation: €60.00k

Company Information

ASML Holding N.V.'s company bio, 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
  • Market Cap: €95.822b
  • Shares outstanding: 420.27m
  • 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
ASMLABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
ASMLBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
ASMLENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURJan 1992
ASMEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
ASMLSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1992
ASML NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
ASML.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
0QB8LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ASMEXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
ASMLWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
ASMFDB (Deutsche Boerse AG)N Y REGISTRY SHSDEEURMar 1995
ASMLNasdaqGS (Nasdaq Global Select)N Y REGISTRY SHSUSUSDMar 1995

Biography

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 As ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:41
End of Day Share Price2019/10/18 00:00
Earnings2019/09/29
Annual Earnings2018/12/31


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.