ASML Holding N.V. (ASML) vs KLA Corporation (KLAC)

ASML Holding N.V. and KLA Corporation are both Semiconductor Equipment & Materials companies. ASML Holding N.V. is the larger, with a market value of $522.9B against $169.1B — 3.1× the size. KLA Corporation trades at the lower P/E: 32.7× against 33.7×. ASML Holding N.V. grew revenue faster over the last twelve months: 28.8% against 15.8%. KLA Corporation has the higher net margin (36.3% vs 34.1%) and the lower return on invested capital (51.5% vs 84.9%). Both pay a dividend; ASML Holding N.V. yields more (0.68% vs 0.64%). Across the 23 metrics below, ASML Holding N.V. leads on 14 and KLA Corporation on 9.

Valuation

Metric ASML KLAC Semiconductor Equipment & Materials median
P/E 33.70 32.72 33.70
P/S 11.46 11.83 4.22
P/B 23.65 26.30 2.94
Price to free cash flow 21.91 42.61 31.49
EV/EBITDA 27.35 26.34 22.64
EV/Sales 11.23 11.95 4.97
Earnings yield 2.97% 3.06% 2.02%
Free cash flow yield 4.56% 2.35% 2.27%

Profitability

Metric ASML KLAC Semiconductor Equipment & Materials median
Gross margin 54.35% 61.47% 46.86%
Operating margin 38.55% 42.64% 12.02%
Net margin 34.13% 36.25% 10.16%
Free cash flow margin 52.28% 27.83% 6.73%
Return on equity 0.00% 91.38% 5.31%
Return on assets 25.93% 30.29% 4.10%
Return on invested capital 84.93% 51.51% 6.36%

Growth

Metric ASML KLAC Semiconductor Equipment & Materials median
Revenue growth (TTM) 28.77% 15.82% 15.82%
EPS growth (last fiscal year) 34.25% 20.51% (4.56%)
Revenue growth, 5-year CAGR 18.28% 14.44% 10.11%
Net income growth, 5-year CAGR 21.78% 18.38% 0.00%

Health

Metric ASML KLAC Semiconductor Equipment & Materials median
Debt to equity 0.09 0.88 0.09
Current ratio 1.49 2.76 3.56
Net debt to EBITDA (0.72) 0.16 (0.49)

Dividend

Metric ASML KLAC Semiconductor Equipment & Materials median
Dividend yield 0.68% 0.64% 0.59%
Payout ratio 0.23 0.21 0.16

Size

Metric ASML KLAC Semiconductor Equipment & Materials median
Market cap 522.88b 169.12b 3.04b

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