COMPOSITE RISK SCORE
56
MODERATE
VAL:10/25 · FIN:20/25 · GRO:13/25 · TECH:13/25
📖 P/B RATIO
1210.0x
Price to Book
🏛 MARKET CAP
$534.6B
Large Cap
📊 ROE
52.2%
Return on Equity
Overview
Technical
Financials
Analysis
Verdict
🏢 Company Analysis · ASML Holding N.V.
💼 BUSINESS MODEL
ASML Holding N.V.. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems.. The company offers lithography, metrology, and inspection systems.. It also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography systems solutions to manufacture various range of semiconductor nodes and technologies.. Operates in Semiconductor Equipment & Materials within the Technology sector. Workforce of 43,882 employees.
🏰 MOAT & COMPETITION
Mega-cap ($535B) — dominant market position with significant scale advantages. ROE of 52.2% indicates strong competitive advantage and efficient capital deployment. Profit margin of 29.7% suggests pricing power / cost moat.
🚀 CATALYSTS
ASML Guidance Climbs As AI And Memory Orders Reshape Growth Outlook (Simply Wall St.)
⚖️ ASYMMETRY CHECK
Analyst target range: $905 — $1,996 (mean $1,658, 15 analysts). Moderate asymmetry — upside +44% vs downside -35% (1.3x).P/E of 45.8x — premium valuation , growth must sustain to avoid de-rating risk.
🔭 FUTURE OUTLOOK
Analyst consensus: Strong Buy (15 analysts). Latest quarter earnings grew 17% YoY — positive trajectory.
P/E at 46x
P/B at 1210.0x
Analyst target: $1,657.79 (+19.5%)
1Y return: +109.9%
ROE: 52.2%
Profit margin: 29.7%
Revenue growth: 13.2%
Debt/Equity: 13%
Revenue growth: 13.2%
Earnings growth: 19.2%
Beta: 1.38
Sector: Technology
RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals
📈 Price Movement
1D 1W 1M
6M 1Y 3Y 5Y
🕯 Candlestick Chart
1D 1W 1M
6M 1Y 3Y 5Y
🎯 Price Prediction · Analyst Target Cone
📉 Valuation Trends (at current CMP)
P/E P/B MCap/Sales EPS
99.2
86.4
73.5
60.6
47.7
2022
2023
2024
2025
2022: 86.3 2023: 67.4 2024: 72.1 2025: 56.1 56.1
69.8
58.1
46.5
34.8
23.2
2022
2023
2024
2025
2022: 60.7 2023: 39.7 2024: 28.9 2025: 27.3 27.3
29.0
25.3
21.5
17.7
13.9
2022
2023
2024
2025
2022: 25.2 2023: 19.4 2024: 18.9 2025: 16.4 16.4
28.4
24.7
21.0
17.3
13.7
2022
2023
2024
2025
2022: 16.1 2023: 20.6 2024: 19.2 2025: 24.7 24.7
💎 Valuation & Financial Metrics
P/E RATIO
45.8x
Trailing twelve months
P/B RATIO
1210.0x
Price to Book value
PROFIT MARGIN
29.7%
Net profit margin
OPM
36.0%
Operating profit margin
ANALYST TARGET
$1,657.79
Range: $904.84 - $1,996.02
PEG RATIO
2.06
Price/Earnings to Growth
EV/EBITDA
41.6x
Enterprise value ratio
CURRENT RATIO
1.36
Liquidity measure
DIVIDEND YIELD
64.00%
Annual yield
GROSS MARGIN
52.6%
Gross profit margin
SECTOR BENCHMARKS — SEMICONDUCTOR EQUIPMENT & MATERIALS
P/E (fair) 35.0x (sector mid)
P/B (fair) 8.0x (sector mid)
ROE (good) 25% (sector target)
OPM (good) 25% (sector target)
D/E comfort <20 (sector)
📋 Quarterly Performance Trend
Quarter Revenue QoQ % Net Profit QoQ % Op. Cash Flow EBITDA Margin
Q4 '24
N/A —
N/A —
N/A
N/A
Q1 '25
$7.7B —
$2.4B —
$-58.6M
38.5%
Q2 '25
$7.7B -0.6%
$2.7B +13.6%
$1.3B
47.4%
Q3 '25
$7.5B -2.3%
$2.1B -20.6%
$559.1M
36.5%
Q4 '25
$9.7B +29.3%
$2.8B +33.7%
$11.4B
37.9%
Q1 '26
$8.8B -9.8%
$2.8B -2.9%
$-2.2B
36.0%
📊 Year-on-Year Trend
FY Revenue YoY % Net Profit YoY % Op. Cash Flow YoY %
2021
N/A —
N/A —
N/A —
2022
$21.2B —
$5.6B —
$8.5B —
2023
$27.6B +30.2%
$7.8B +39.4%
$5.4B -35.9%
2024
$28.3B +2.6%
$7.6B -3.4%
$11.2B +105.1%
2025
$32.7B +15.6%
$9.6B +26.9%
$12.7B +13.4%
📈 Revenue vs Earnings
Quarterly
Annual
💰 How ASML Holding N.V. Makes Its Money
Quarterly
Annual
Revenue
$8.8B
Cost of Revenue
$4.1B
Gross Profit
$4.6B
R&D
$1.2B
SG&A
$302M
Operating Inc.
$3.2B
Tax
$547M
Net Income
$2.8B
(31.4% margin)
Mar 2026 · All values in $ Millions
Revenue
$9.7B
Cost of Revenue
$4.6B
Gross Profit
$5.1B
R&D
$1.3B
SG&A
$375M
Operating Inc.
$3.4B
Tax
$619M
Net Income
$2.8B
(29.2% margin)
Dec 2025 · All values in $ Millions
Revenue
$7.5B
Cost of Revenue
$3.6B
Gross Profit
$3.9B
R&D
$1.1B
SG&A
$303M
Operating Inc.
$2.5B
Tax
$442M
Net Income
$2.1B
(28.3% margin)
Sep 2025 · All values in $ Millions
Revenue
$7.7B
Cost of Revenue
$3.6B
Gross Profit
$4.0B
R&D
$607M
SG&A
$299M
Operating Inc.
$3.1B
Tax
$575M
Net Income
$2.7B
(34.8% margin)
Jun 2025 · All values in $ Millions
Revenue
$32.7B
Cost of Revenue
$15.4B
Gross Profit
$17.3B
R&D
$4.7B
SG&A
$1.3B
Operating Inc.
$11.3B
Tax
$2.0B
Net Income
$9.6B
(29.4% margin)
Dec 2025 · All values in $ Millions
Revenue
$28.3B
Cost of Revenue
$13.8B
Gross Profit
$14.5B
R&D
$4.3B
SG&A
$1.2B
Operating Inc.
$9.0B
Tax
$1.7B
Interest
$163M
Net Income
$7.6B
(26.8% margin)
Dec 2024 · All values in $ Millions
Revenue
$27.6B
Cost of Revenue
$13.4B
Gross Profit
$14.1B
R&D
$4.0B
SG&A
$1.1B
Operating Inc.
$9.0B
Tax
$1.4B
Interest
$153M
Net Income
$7.8B
(28.4% margin)
Dec 2023 · All values in $ Millions
Revenue
$21.2B
Cost of Revenue
$10.5B
Gross Profit
$10.7B
R&D
$3.3B
SG&A
$946M
Operating Inc.
$6.5B
Tax
$970M
Net Income
$5.6B
(26.6% margin)
Dec 2022 · All values in $ Millions
Mar 2026
Dec 2025
Sep 2025
Jun 2025
🏦 Snapshot of ASML Holding N.V.'s Balance Sheet
Quarterly
Annual
Total Assets
$48.1B
Cash & Equiv.: $8.0B (16.6%)
Receivables: $4.4B (9.2%)
Inventory: $11.7B (24.4%)
Other Current: $3.5B (7.3%)
PP&E: $8.1B (16.8%)
Goodwill: $4.6B (9.5%)
Other Intangibles: $532M (1.1%)
Other Non-Curr.: $7.3B (15.1%)
Liab. + Equity
$48.1B
Current Liab.: $20.3B (42.2%)
Long-Term Debt: $2.7B (5.6%)
Other Liab.: $4.2B (8.8%)
Equity: $20.8B (43.3%)
As of Mar 2026 · All values in $ Millions
Total Assets
$50.6B
Cash & Equiv.: $12.9B (25.5%)
Receivables: $3.0B (6.0%)
Inventory: $11.4B (22.6%)
Other Current: $3.2B (6.4%)
PP&E: $8.2B (16.3%)
Goodwill: $4.6B (9.1%)
Other Intangibles: $540M (1.1%)
Other Non-Curr.: $6.6B (13.0%)
Liab. + Equity
$50.6B
Current Liab.: $24.3B (48.0%)
Long-Term Debt: $2.7B (5.4%)
Other Liab.: $4.0B (7.9%)
Equity: $19.6B (38.8%)
As of Dec 2025 · All values in $ Millions
Total Assets
$45.1B
Cash & Equiv.: $5.1B (11.4%)
Receivables: $5.4B (11.9%)
Inventory: $11.8B (26.1%)
Other Current: $2.9B (6.4%)
PP&E: $8.0B (17.8%)
Goodwill: $4.6B (10.2%)
Other Intangibles: $556M (1.2%)
Other Non-Curr.: $6.8B (15.0%)
Liab. + Equity
$45.1B
Current Liab.: $19.2B (42.6%)
Long-Term Debt: $2.7B (6.0%)
Other Liab.: $4.2B (9.3%)
Equity: $19.0B (42.1%)
As of Sep 2025 · All values in $ Millions
Total Assets
$44.8B
Cash & Equiv.: $7.2B (16.2%)
Receivables: $5.0B (11.1%)
Inventory: $11.6B (25.8%)
Other Current: $2.9B (6.5%)
PP&E: $7.7B (17.1%)
Goodwill: $4.6B (10.2%)
Other Intangibles: $566M (1.3%)
Other Non-Curr.: $5.3B (11.9%)
Liab. + Equity
$44.8B
Current Liab.: $18.6B (41.5%)
Long-Term Debt: $3.7B (8.2%)
Other Liab.: $4.9B (11.0%)
Equity: $17.6B (39.3%)
As of Jun 2025 · All values in $ Millions
Total Assets
$50.6B
Cash & Equiv.: $12.9B (25.5%)
Receivables: $3.0B (6.0%)
Inventory: $11.4B (22.6%)
Other Current: $3.2B (6.4%)
PP&E: $8.2B (16.3%)
Goodwill: $4.6B (9.1%)
Other Intangibles: $540M (1.1%)
Other Non-Curr.: $6.6B (13.0%)
Liab. + Equity
$50.6B
Current Liab.: $24.3B (48.0%)
Long-Term Debt: $2.7B (5.4%)
Other Liab.: $4.0B (7.9%)
Equity: $19.6B (38.8%)
As of Dec 2025 · All values in $ Millions
Total Assets
$48.6B
Cash & Equiv.: $12.7B (26.2%)
Receivables: $4.5B (9.2%)
Inventory: $10.9B (22.4%)
Other Current: $2.6B (5.4%)
PP&E: $7.2B (14.9%)
Goodwill: $4.6B (9.4%)
Other Intangibles: $621M (1.3%)
Other Non-Curr.: $5.4B (11.1%)
Liab. + Equity
$48.6B
Current Liab.: $20.1B (41.3%)
Long-Term Debt: $3.7B (7.6%)
Other Liab.: $6.4B (13.1%)
Equity: $18.5B (38.0%)
As of Dec 2024 · All values in $ Millions
Total Assets
$40.0B
Cash & Equiv.: $7.0B (17.5%)
Receivables: $4.3B (10.8%)
Inventory: $8.9B (22.2%)
Other Current: $4.2B (10.5%)
PP&E: $5.8B (14.5%)
Goodwill: $4.6B (11.5%)
Other Intangibles: $742M (1.9%)
Other Non-Curr.: $4.4B (11.1%)
Liab. + Equity
$40.0B
Current Liab.: $16.3B (40.7%)
Long-Term Debt: $4.6B (11.6%)
Other Liab.: $5.6B (14.0%)
Equity: $13.5B (33.7%)
As of Dec 2023 · All values in $ Millions
Total Assets
$36.3B
Cash & Equiv.: $7.3B (20.0%)
Receivables: $5.3B (14.7%)
Inventory: $7.2B (19.8%)
Other Current: $3.3B (9.0%)
PP&E: $4.1B (11.4%)
Goodwill: $4.6B (12.5%)
Other Intangibles: $842M (2.3%)
Other Non-Curr.: $3.7B (10.2%)
Liab. + Equity
$36.3B
Current Liab.: $18.0B (49.5%)
Long-Term Debt: $3.5B (9.7%)
Other Liab.: $6.0B (16.5%)
Equity: $8.8B (24.3%)
As of Dec 2022 · All values in $ Millions
Mar 2026
Dec 2025
Sep 2025
Jun 2025
💸 Looking into ASML Holding N.V.'s Cash Flow
Quarterly
Annual
Operating CF
$11.4B
Capital Exp.
$470M
Free Cash Flow
$10.9B
Dividends
$619M
Buybacks
$1.7B
Debt Repaid
$1.1B
Retained / Other
$7.6B
FY2025 · All values in $ Millions
Operating CF
$559M
Capital Exp.
$315M
Free Cash Flow
$244M
Dividends
$620M
Buybacks
$172M
FY2025 · All values in $ Millions
Operating CF
$1.3B
Capital Exp.
$988M
Free Cash Flow
$358M
Dividends
$714M
Buybacks
$1.5B
FY2025 · All values in $ Millions
Operating CF
$12.7B
Capital Exp.
$1.6B
Free Cash Flow
$11.0B
Dividends
$2.6B
Buybacks
$6.0B
Debt Repaid
$1.1B
Retained / Other
$1.5B
FY2025 · All values in $ Millions
Operating CF
$11.2B
Capital Exp.
$2.1B
Free Cash Flow
$9.1B
Dividends
$2.5B
Buybacks
$500M
Retained / Other
$6.1B
FY2024 · All values in $ Millions
Operating CF
$5.4B
Capital Exp.
$2.2B
Free Cash Flow
$3.2B
Dividends
$2.3B
Buybacks
$1.0B
Debt Repaid
$753M
FY2023 · All values in $ Millions
Operating CF
$8.5B
Capital Exp.
$1.3B
Free Cash Flow
$7.2B
Dividends
$2.6B
Buybacks
$4.6B
Debt Repaid
$516M
FY2022 · All values in $ Millions
FY2025
FY2025
FY2025
🎯 EPS: Estimate vs Actual
Estimates
Quarterly
Annual
📅 Quarterly Results
Item Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Total Revenue $8.77B $9.72B $7.52B $7.69B $7.74B — Cost of Revenue $4.12B $4.65B $3.64B $3.65B $3.56B — Gross Profit $4.64B $5.07B $3.88B $4.04B $4.18B — Operating Expense $1.49B $1.64B $1.41B $905.8M $1.44B — Operating Income $3.16B $3.43B $2.47B $3.14B $2.74B — Interest Expense $40.9M $11.2M $19.4M $24.8M $49.2M — Pretax Income $3.20B $3.44B $2.49B $3.16B $2.79B — Tax Provision $546.6M $618.7M $442.2M $575.3M $465.1M — Net Income $2.76B $2.84B $2.12B $2.68B $2.35B — EBITDA $3.16B $3.69B $2.74B $3.65B $2.98B — EPS (Basic) $7.15 $7.35 $5.49 — $6.00 $6.85 EPS (Diluted) $7.15 $7.34 $5.48 — $6.00 $6.84 Shares Outstanding 385.7M 387.0M 387.6M — 392.5M 393.6M
📊 Profit & Loss Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Revenue $32.67B $28.26B $27.56B $21.17B — Cost of Revenue $15.41B $13.77B $13.42B $10.47B — Gross Profit $17.26B $14.49B $14.14B $10.70B — Operating Expense $5.96B $5.47B $5.09B $4.20B — Operating Income $11.30B $9.02B $9.04B $6.50B — Interest Expense $118.3M $162.6M $152.7M $60.8M — Pretax Income $11.41B $9.04B $9.08B $6.46B — Tax Provision $2.01B $1.68B $1.44B $969.9M — Net Income $9.61B $7.57B $7.84B $5.62B — EBITDA $12.55B $10.12B $9.98B $7.10B — EPS (Basic) $24.73 $19.25 $20.61 $16.08 — EPS (Diluted) $24.71 $19.24 $20.59 $16.07 — Shares Outstanding 388.9M 393.6M 394.1M 398.0M —
🏦 Balance Sheet
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Total Assets $50.57B $48.59B $39.96B $36.30B — Current Assets $30.62B $30.74B $24.39B $23.06B — Cash & Equivalents $12.92B $12.74B $7.00B $7.27B — Accounts Receivable $3.02B $4.48B $4.33B $5.32B — Inventory $11.43B $10.89B $8.85B $7.20B — Non-Current Assets $19.95B $17.85B $15.56B $13.24B — Property Plant & Equip $8.23B $7.23B $5.80B $4.14B — Goodwill $4.59B $4.59B $4.59B $4.56B — Intangible Assets $5.13B $5.21B $5.33B $5.40B — Total Liabilities $30.95B $30.11B $26.51B $27.49B — Current Liabilities $24.26B $20.05B $16.27B $17.98B — Accounts Payable $3.52B $3.50B $2.35B $2.57B — Short-Term Debt $1.68B $1.01B $100.0K $746.2M — Long-Term Debt $2.71B $3.68B $4.63B $3.51B — Total Equity $19.61B $18.48B $13.45B $8.81B — Retained Earnings $17.59B $14.41B $12.38B $9.05B — Book Value/Share 14.48B 13.27B 8.12B 3.41B —
💰 Cash Flow Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Operating Cash Flow $12.66B $11.17B $5.44B $8.49B — Depreciation & Amort. $1.03B $918.6M $739.8M $583.6M — Change in Working Cap $1.03B $2.05B $-3.66B $2.44B — Capital Expenditure $-1.63B $-2.08B $-2.20B $-1.32B — Free Cash Flow $11.03B $9.08B $3.25B $7.17B — Investing Cash Flow $-3.78B $-2.61B $-2.69B $-1.03B — Acquisitions $0 $0 $-33.6M $0 — Financing Cash Flow $-8.67B $-2.83B $-3.00B $-7.14B — Debt Issued $754.2M $22.5M $997.8M $495.6M — Debt Repaid $-1.07B $-25.7M $-752.8M $-516.2M — Dividends Paid $-2.55B $-2.45B $-2.35B $-2.56B — Share Buyback $-5.95B $-500.0M $-1.00B $-4.64B — Net Change in Cash $210.2M $5.72B $-249.8M $319.6M —
📈 Key Financial Ratios
Ratio FY2025 FY2024 FY2023 FY2022 FY2021 Gross Margin % 52.8% 51.3% 51.3% 50.5% — Operating Margin % 34.6% 31.9% 32.8% 30.7% — Net Margin % 29.4% 26.8% 28.4% 26.6% — EBITDA Margin % 38.4% 35.8% 36.2% 33.5% — ROE % 49.0% 41.0% 58.3% 63.8% — ROA % 19.0% 15.6% 19.6% 15.5% — Debt/Equity % 22.4% 25.4% 34.4% 48.4% — Current Ratio 1.26 1.53 1.50 1.28 — FCF Margin % 33.8% 32.1% 11.8% 33.9% — Asset Turnover 0.65 0.58 0.69 0.58 —
🚀 Compounded Growth Rates
Revenue
1-Year +15.6% 3-Year CAGR +8.9%
Net Profit
1-Year +26.9% 3-Year CAGR +10.7%
EPS
1-Year +28.4% 3-Year CAGR +9.5%
🏭 Industry Peers — Semiconductor Equipment & Materials
Ticker Company Price P/E P/B MCap ROE Margin Rev Growth AAPL Apple Inc. $268.99 34.0 44.8 $3,949.1B 152.0% 27.0% 15.7% MSFT Microsoft Corporation $424.19 26.6 8.1 $3,152.8B 34.4% 39.0% 16.7% GOOGL Alphabet Inc. $350.50 32.4 10.2 $4,240.1B 35.7% 32.8% 18.0% META Meta Platforms, Inc. $671.70 28.6 7.8 $1,705.1B 30.2% 30.1% 23.8% NVDA NVIDIA Corporation $210.52 43.0 32.5 $5,116.7B 101.5% 55.6% 73.2% ORCL Oracle Corporation $162.80 29.2 14.0 $468.2B 57.6% 25.3% 21.7% CRM Salesforce, Inc. $180.14 23.1 2.8 $147.4B 12.4% 18.0% 12.1% ADBE Adobe Inc. $241.43 14.1 8.6 $97.6B 58.8% 29.5% 12.0%
Peers selected from Technology sector · Data from Yahoo Finance
🏛 Shareholding Pattern
TOP HOLDERS
Holder Type Shares % Held Fisher Asset Management, LLC Inst 4,484,949 1.16% Capital World Investors Inst 3,881,791 1.00% Capital International Investors Inst 3,409,421 0.88% State Farm Mutual Automobile Insura Inst 2,758,173 0.71% Van Eck Associates Corporation Inst 2,017,883 0.52% iShares Trust-iShares Core MSCI EAF MF 2,704,151 0.70% Invesco QQQ Trust, Series 1 MF 1,866,243 0.48% WASHINGTON MUTUAL INVESTORS FUND MF 1,665,604 0.43%
🟢 CATALYSTS
🏆 Positive Revenue Growth: Revenue growing at 13.2% YoY.
💹 High ROE (52.2%): Above sector norm of 25% — efficient capital use.
🔀 Healthy Margins (29.7%): Above sector norm of 25%.
🇺 Analyst Upside (20%): Mean target of $1,657.79 above current price.
🇸 Earnings Growth (19%): Above sector norm — strong profit expansion.
🔴 RISKS
📜 High P/B (1210.0x): Well above sector expensive threshold of 15x.
💰 High Beta (1.38): More volatile than market — higher swing risk.
🔓 Market Risk: Broader market correction or sentiment shift could impact stock.
🕸 Factor Analysis · Radar
Momentum 7/10: 1M +10.9%, 6M +30.0%, RSI 47, MACD bearish, Above 200DMA Sentiment 8/10: Analyst upside +19.5%, Rec: strong buy Value 1/10: P/E 45.8, P/B 1210.0, PEG 2.06, EV/EBITDA 41.6 Quality 9/10: ROE 52.2%, Margin 29.7%, D/E 13, CR 1.36 Low Volatility 3/10: Beta 1.38, Ann. vol 39% Momentum
7
Sentiment
8
Value
1
Quality
9
Low Vol
3
Momentum 7/10 1M +10.9%, 6M +30.0%, RSI 47, MACD bearish, Above 200DMA
Sentiment 8/10 Analyst upside +19.5%, Rec: strong buy
Value 1/10 P/E 45.8, P/B 1210.0, PEG 2.06, EV/EBITDA 41.6
Quality 9/10 ROE 52.2%, Margin 29.7%, D/E 13, CR 1.36
Low Volatility 3/10 Beta 1.38, Ann. vol 39%
🎯 Decision Matrix — Game Theory
Action If Stock Rises If Stock Falls
BUY Capture 19.5% analyst upside OPM of 36% provides margin buffer HOLD Retain existing position; wait for better entry Miss further upside if momentum continues; 1M return of +10.9% shows momentum SELL Lock in +109.9% 1Y return Avoid further drawdown
REASONS TO BUY
Analyst upside of 19.5% with mean target of $1,657.79
ROE of 52.2% above sector norm of 25%
Revenue growing at 13.2% YoY (sector norm: 12%)
Operating margin of 36% shows pricing power (sector norm: 25%)
REASONS TO SELL / AVOID
1Y return of +109.9% — profit booking opportunity
ASML Holding N.V. trades at $1,387.14 with a composite risk score of 56/100.
The stock scores 10/25 on valuation, 20/25 on financial health, 13/25 on growth, and 13/25 on technicals.
The company is currently profitable with strong return on equity.
Bottom Line: Neutral for Technology — wait for better entry or catalyst. The current recommendation is HOLD .
PROFITABLE
HIGH ROE
UPSIDE POTENTIAL
VOLATILE