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ASML Holding N.V.

Rank #172Capital ReturnWatchlistCompare with other stocks

ASML · Nasdaq · Technology

ASML Holding N.V. (ASML) — Rank #172 by gross profitability (GP/assets 0.34) · ROE 49.0% · Piotroski F-Score 8 / 9.

As-of 2026-10-30 · CIK 0000937966 · all metrics point-in-time as of the filing date.

About

ASML Holding N.V. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems.

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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. In addition, the company offers metrology and inspection systems, including YieldStar optical metrology systems, a diffraction-based wafer metrology platform to assess the quality of patterns on the wafers; and HMI electron beam solutions to locate and analyze individual chip defects. Further, it provides computational lithography solutions, and lithography systems and control software solutions; and refurbishes and upgrades lithography systems, as well as offers customer support and related services. Additionally, the company offers hardware, software, and services to chipmakers to produce the patterns of integrated circuits. It operates in Japan, South Korea, Singapore, Taiwan, China, rest of Asia, the Netherlands, rest of Europe, the Middle East, Africa, and the United States. The company was formerly known as ASM Lithography Holding N.V. and changed its name to ASML Holding N.V. in 2001. ASML Holding N.V.

was founded in 1984 and is headquartered in Veldhoven, the Netherlands.

Industry
Semiconductor Equipment & Materials
Sector
Technology
Filer Category
Large accelerated filer
Fiscal Year End
December 31
Website
asml.com

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

44,681

Industry

Semiconductor Equipment & Materials

Exchange

Nasdaq

12/12

Flags passed

ASML passes 12/12 quality flags

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.34
Return on equity
49.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.58
Current ratio
1.26×
Net cash
$8.93B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.6%

Growth

2/2 pass
Revenue growth
15.6%
Piotroski F-Score
8 / 9
Share dilution
-1.2%

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 76th percentile of 26 SIC 35 peers

Gross profitability (GP / assets)

0.34

Primary signal (Novy-Marx).

76th pctl of 26 SIC 35 peers

Return on equity

49.0%

Gross margin

52.8%

76th pctl of 26 SIC 35 peers

Revenue growth (YoY)

15.6%

RPO growth (YoY)

7.4%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.6%

Revenue CAGR (5Y)

18.5%

Earnings CAGR (3Y)

19.5%

FCF CAGR (3Y)

15.4%

Cash Flow Health

Is the cash real?

No warning flags · FCF 15% above net income

Free cash flow

$11.08B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

15.4%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.6%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $8.93B, F-Score 8/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.58

8th pctl of 26 SIC 35 peers (best = lowest)

Current ratio

1.26×

8th pctl of 26 SIC 35 peers

Quick ratio

0.67×

Net cash

$8.93B

Cash & equivalents minus total debt.

Piotroski F-Score

8 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

3.0 / 5

Good
Share count trend(net buybacks)
-1.2%3/5 Good
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
1.7%3/5 Good

Lifecycle Phase History

20202025
Op. Leverage
Hypergrowth
Capital Return
Value

Price History

ASML+102.1% · +15.1% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports