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ASML Holding N.V.

ASML Technology Semiconductor Equipment & Materials

ASML Holding N.V.’s revenue for fiscal 2025 (year ended December 2025) was $37.0 billion, up 20.8% from fiscal 2024. In the quarter to September 2026, revenue grew 52.8%, EPS grew 132.1%, free cash flow grew 4,578.0% and total debt fell 28.5%, each against the same quarter a year earlier. Member of the Nasdaq 100; revenue growth for ten consecutive years.

1,637.35 9.77 −0.59%
Market cap
$634.8B
P/E
40.6×
Fwd P/E
35.6×
Dividend yield
0.55%
F-score
8/9
Altman Z
9.14
Beneish M
−2.87
Dividend safety
80/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 634,830.00
Revenue 45,814.70
Net Income 15,199.40
Free Cash Flow 23,952.62
Net Debt (12,398.69)
Current Ratio 1.49
Debt/Equity 0.09 (at or below 0.5: strong)
P/E ratio 40.60 (above 35: high)
Fwd P/E 35.60 (above 35: high)
P/S ratio 13.80 (above 10: high)
P/B ratio 28.50 (above 6: high)
Past 5Y EPS Growth 23.60% (at or above 15%: strong)
This Y EPS Growth 55.17% (at or above 15%: strong)
Next Y EPS Growth 37.78% (at or above 15%: strong)
Next Y revenue growth 35.19% (at or above 10%: strong)
Next 5Y EPS Growth 41.26% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 13.6×, against a ten-year median of 9.2×; over the ten years it ranged from 5.0× in 2018 to 18.5× in 2026.
P/E against its own 10 years 62.71%
10-year low 10-year high
P/S against its own 10 years 83.38%
10-year low 10-year high
P/B against its own 10 years 94.55%
10-year low 10-year high
EV/Sales against its own 10 years 83.05%
10-year low 10-year high
EV/FCF against its own 10 years 15.48%
10-year low 10-year high

Dividends

Payout Ratio 0.22
Annual Dividend Rate 9.09
Annual Dividend Yield 0.55%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 10.39
1.91
3.17
2.15
2025 7.37
1.57
2.09
1.85
1.86
2024 6.71
1.56
1.87
1.64
1.64
2023 6.45
1.47
1.86
1.59
1.53
2022 6.63
3.90
1.40
1.34
2021 3.95
1.87
2.08
2020 2.85
1.46
1.40
2019 3.51
2.34
1.17
2018 1.69
1.69
2017 1.31
1.31
2016 1.21
1.21
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 7,587 13,787 15,072 14,658
Receivables 6,184 4,934 4,114 11,427
Inventory 9,579 11,786 12,931 13,705
Other 3,052 2,753 2,220 2,478
26,402 33,261 34,639 42,617
2023 2024 2025 Q'26
Payables 2,540 3,788 3,985 —
ST’ Debt 0 1,093 1,903 —
Other 12,383 13,603 18,110 28,665
17,614 21,698 27,452 28,665

Compound Annual Growth %

10y 5y 3y
Sales 18.13% 18.28% 18.33%
Cash Flow 20.34% 22.06% 17.00%
Earnings 21.58% 21.78% 22.42%
Book Value 9.07% 6.98% 33.71%

Revenue $m

Mar Jun Sep Dec Year
’26 10,261 10,844 13,423 — —
’25 8,156 8,732 8,785 11,287 36,960
’24 5,743 6,723 8,211 9,906 30,583
’23 7,241 7,496 7,263 7,826 29,827
’22 3,966 5,787 5,820 6,735 22,308
’21 5,261 4,844 6,181 5,733 22,019
’20 2,692 3,662 4,627 4,986 15,968
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (2,558) 1,997 13,585 — —
’25 (62) 844 677 12,863 14,322
’24 (273) 997 1,060 10,300 12,083
’23 787 427 1,231 3,446 5,891
’22 (658) 2,754 1,063 5,783 8,942
’21 (1,135) 4,301 2,057 7,609 12,832
’20 (668) 411 208 5,336 5,286
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (3,052) 1,551 13,079 — —
’25 (501) 323 280 12,374 12,476
’24 (734) 421 581 9,561 9,829
’23 208 (171) 673 2,804 3,514
’22 (940) 2,515 725 5,252 7,552
’21 (1,373) 4,003 1,827 7,263 11,719
’20 (936) 156 (84) 5,006 4,143
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 8.37 8.81 14.89 — —
’25 6.31 6.69 6.41 8.55 27.95
’24 3.38 4.32 5.80 7.30 20.82
’23 5.31 5.37 5.23 5.60 21.53
’22 1.94 3.77 4.32 4.70 14.89
’21 3.86 3.04 5.02 5.01 16.40
’20 1.03 1.97 2.96 3.85 9.69
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 77.17 109.62 144.50 147.38 191.25 489.74 363.15 545.77 645.45 578.51 +25.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 112.66 186.37 221.66 298.50 492.66 895.93 799.36 771.98 1,110.09 1,141.72 +29.3% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 14,072 19,216 23,247 24,900 26,614 32,016 39,086 42,416 44,027 44,209 +13.6% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.53 0.53 0.56 0.53 0.60 0.69 0.57 0.70 0.69 0.84 +5.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 7,519 10,232 12,925 13,238 15,968 22,019 22,308 29,827 30,583 36,960 +19.4% 49,965 64,287 79,491 +29.1%
Gross margin, % 44.81 45.03 45.95 44.67 48.63 52.71 50.54 51.29 51.28 52.83 +8.0 pt
EBT 1,872 2,765 3,469 3,098 4,588 7,933 6,802 9,831 9,785 12,905 +23.9%
EBT margin, % 24.89 27.02 26.84 23.40 28.73 36.03 30.49 32.96 31.99 34.92 +10.0 pt
Net income 1,629 2,395 3,061 2,903 4,059 6,960 5,926 8,484 8,193 10,872 +23.5%
Depreciation 395 472 499 502 561 557 615 801 994 1,161 +12.7%
Per share, $
Per share, $ Revenue 17.67 23.81 30.42 31.46 38.17 53.73 56.09 75.74 77.76 95.13 +20.6%
Earnings 3.83 5.57 7.20 6.90 9.70 16.42 14.90 21.55 20.83 27.97 +24.7%
Cash flow 4.33 4.73 8.54 8.72 12.64 31.31 22.48 14.96 30.72 36.86 +26.9%
Capex (0.84) (0.94) (1.69) (2.36) (2.73) (2.71) (3.50) (6.04) (5.73) (4.75) +21.2%
Free cash flow 3.49 3.79 6.85 6.36 9.90 28.60 18.99 8.92 24.99 32.11 +28.0%
Book value 25.53 28.08 32.36 33.52 37.86 29.28 23.34 36.97 50.84 57.12 +9.4%
Shares, m 426 430 425 421 418 410 398 394 393 389 (1.0%)
Valuation, ×
Valuation, × P/E 28.99 32.31 21.70 43.02 49.67 46.97 37.27 33.28 33.31 38.23 36.5
P/S 6.25 7.47 5.12 9.41 12.78 14.82 9.80 9.47 8.91 11.25 9.5
P/B 4.33 6.33 4.81 8.83 12.88 27.19 23.54 19.39 13.63 18.73 14.0
EV/Sales 6.14 7.44 5.03 9.27 12.59 14.66 9.65 9.38 8.63 10.97 9.4
EV/FCF 31.12 46.73 22.33 45.85 48.51 27.54 28.51 79.60 26.85 32.50 39.0
Cash, $m
Cash, $m Operating cash flow 1,843 2,033 3,629 3,670 5,286 12,832 8,942 5,891 12,083 14,322 +25.6%
Capex (359) (405) (720) (992) (1,143) (1,112) (1,390) (2,377) (2,254) (1,846) +19.9%
Free cash flow 1,484 1,628 2,909 2,677 4,143 11,719 7,552 3,514 9,829 12,476 +26.7%
Balance, $m
Balance, $m Working capital 5,839 6,403 7,959 8,329 10,654 6,971 5,354 8,787 11,563 7,187 +2.3%
Total debt 3,673 3,419 3,627 3,544 5,344 5,423 4,489 5,013 5,072 4,968 +3.4%
Net debt (816) (297) (1,137) (1,740) (3,054) (3,557) (3,283) (2,574) (8,715) (10,105) +32.3%
Shareholders’ equity 10,867 12,067 13,748 14,103 15,838 11,997 9,283 14,560 19,994 22,189 +8.3%
Returns, %
Returns, % ROA 9.64 12.09 13.80 11.82 14.37 20.80 16.01 20.82 17.10 19.81 +10.2 pt
ROIC 11.41 14.98 17.36 15.80 22.62 59.13 71.34 51.03 54.10 66.13 +54.7 pt
ROE 16.14 20.88 23.71 20.85 27.12 50.01 55.69 71.17 47.42 51.55 +35.4 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 16 Oct 2026

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 12.47 Actual 14.89

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 9.04 8.55 Miss by 0.49
Mar 2026 7.72 8.37 Beat by 0.65
Jun 2026 7.98 8.81 Beat by 0.83
Sep 2026 12.47 14.89 Beat by 2.42
Dec 2026 16.40 — Reports 27 January 2027

Charts ten years each

ASML Holding N.V. vs peers in Semiconductor Equipment & Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ASML ASML Holding N.V. $634.8B 40.6× 35.6× +52.79% (above 0%: growing) +132.14% (above 0%: growing) +4,578.01% (above 0%: growing) 57.45% 44.36%
LRCX Lam Research Corporation $340.6B 47.1× 28.0× +29.99% (above 0%: growing) +34.81% (above 0%: growing) −46.75% (below 0%: shrinking) 51.75% 37.39% Compare
AMAT Applied Materials, Inc. $327.8B 35.4× 12.4× +24.83% (above 0%: growing) +43.50% (above 0%: growing) +13.66% (above 0%: growing) 50.31% 33.74% Compare
KLAC KLA Corporation $217.2B 45.3× 30.8× +15.21% (above 0%: growing) +14.16% (above 0%: growing) −22.88% (below 0%: shrinking) 61.36% 42.49% Compare
TER Teradyne, Inc. $52.5B 46.0× 36.6× +103.90% (above 0%: growing) +387.76% (above 0%: growing) +187.39% (above 0%: growing) 59.79% 32.94% Compare
Q Qnity Electronics, Inc. $24.9B 42.6× 31.7× +22.14% (above 0%: growing) −37.61% (below 0%: shrinking) −29.91% (below 0%: shrinking) 46.61% 19.31% Compare
ENTG Entegris, Inc. $22.1B 72.4× 50.0× +11.46% (above 0%: growing) +74.29% (above 0%: growing) +148.72% (above 0%: growing) 47.55% 18.64% Compare
ONTO Onto Innovation Inc. $11.1B 84.4× 36.4× +35.30% (above 0%: growing) +76.81% (above 0%: growing) +30.97% (above 0%: growing) 53.41% 18.52% Compare
AMKR Amkor Technology, Inc. $10.4B 18.7× 16.4× +25.58% (above 0%: growing) +218.18% (above 0%: growing) −276.02% (below 0%: shrinking) 16.79% 10.53% Compare
Median of peers $38.7B 45.6× 31.3× +25.21% +58.90% −4.61% 51.03% 26.13%

All 29 Semiconductor Equipment & Materials stocks →

ASML Holding N.V. (ASML) key facts

  • Strength: ASML Holding N.V.’s revenue for fiscal 2025 (year ended December 2025) was $37.0 billion, up 20.8% from fiscal 2024.
  • Strength: Net income was $10.9 billion, or $27.97 per share (basic), a net margin of 29.4%.
  • ASML Holding N.V. (ASML) is a Semiconductor Equipment & Materials company in the Technology sector, traded in the US as an ADR.
  • As of October 20, 2026, ASML traded at $1,625.73, a market capitalization of $634.8 billion.
  • At that price the stock trades at 40.6× trailing-twelve-month earnings and 13.8× sales; its P/E is higher than 63% of its own readings over the past ten years.
  • ASML Holding N.V. pays an annual dividend of $9.09 per share, a yield of 0.55%, with a payout ratio of 22.4%.
  • Return on equity was 51.6% and debt-to-equity 0.09.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 9.14 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 16, 2026.

ASML Holding N.V. (ASML) Latest News

20 Oct

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19 Oct

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18 Oct

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16 Oct

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15 Oct

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14 Oct

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stockrow.com/ASML · Data as of Oct 16, 2026 · For information only; not investment advice. · © 2026 stockrow.com