ASML Technology

ASML Holding N.V.

$1,552.14+1.70%

Price as of close on Nov 3, 2026 · Financials updated Nov 1, 2026

Basics

Sector: Technology
Industry: Semiconductor Equipment & Materials
Country: Netherlands
Market cap: 598.2B USD
Enterprise value: 622.6B USD
Full-time employees: 44,681

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.30 vs a peer median of 0.87)bigger price swings (beta 1.30 vs peers 0.87)
Drawback: less short-term liquidity (current ratio 1.26 vs a peer median of 1.83)less liquidity (current ratio 1.26 vs peers 1.83)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #486 of 1,612 technology companies (top 31%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from EUR 14.0B in 2020 to EUR 32.7B in 2025.
ASML's fiscal-year revenue rose in each of the five years to 2025, from EUR 14.0B to EUR 32.7B.
Profit is backed by cash. Free cash flow is 115% of reported profit.
ASML's free cash flow is 115% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 35% (12 months to Dec 2025) vs a peer median of 6.3%.Operating margin 35% vs peers 6.3%.
ASML keeps 35% of revenue as operating profit, more than 95% of peers (median 6.3%).

StockQuotient Score

60/ 100▲ 1 since Oct 27 close

Oct 5 59 → Nov 4 60 (+1)

Valuation

Is the price right?

35/100

Weak

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.8%

SEC filings · 12 months to Dec 2025 · EUR→USD at the current rateReported value30% base weight · Z-score -0.20Sector median: 0.0225 · MAD: 0.0225

EBITDA yield2.4%

SEC filings · 12 months to Dec 2025 · EUR→USD at the current rateReported value50% base weight · Z-score -0.52Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield2.1%

SEC filings · 12 months to Dec 2025 · EUR→USD at the current rate · operating cash flow − capital spendingReported value20% base weight · Z-score -0.24Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield3.7%

SEC filings · latest balance sheet · EUR→USD at the current rateOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

71/100

Moderate

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 15.6%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth29.5%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 0.60Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth15.6%

SEC filings · 3 years to Dec 2025Reported value33% base weight · Z-score 1.35Sector median: 0.0483 · MAD: 0.0793

Revenue growth15.6%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 0.69Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

99/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Operating margin rose 2.7 points to 34.6%

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin34.6%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.63Sector median: 0.0631 · MAD: 0.0710

Return on assets19.0%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.87Sector median: 0.0293 · MAD: 0.0362

Return on invested capital80.5%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 6.00Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin52.8%

SEC filings · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity49.0%

SEC filings · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 32 → 34

Company's reported figures updated+2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Held back by:

▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.30

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.16Sector median: 0.8710 · MAD: 0.3700

Current ratio1.26×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.83Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.22×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.11Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about ASML

Is ASML getting weaker?: Its latest SEC filing (Feb 25, 2026) got stronger: operating margin rose 2.7 points to 34.6%. Its overall score is 60/100, up 1 since Oct 28, 2026.
How is ASML valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,711 technology peers. EBITDA yield 2.4% vs a peer median of 4.2% (weaker than 66% of peers).EBITDA yield 2.4% vs peers 4.2% (weaker than 66% of peers).
Is ASML growing?: Yes, faster than most of its peers. Growth scores 71/100 against 1,711 technology peers. 3-year revenue growth 15.6% vs a peer median of 4.8% (stronger than 79% of peers).3-year revenue growth 15.6% vs peers 4.8% (stronger than 79% of peers).
How profitable is ASML?: More profitable than most of its peers. Profitability scores 99/100 against 1,711 technology peers. Operating margin 34.6% vs a peer median of 6.3% (stronger than 95% of peers).Operating margin 34.6% vs peers 6.3% (stronger than 95% of peers).
How risky is ASML?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.26× vs a peer median of 1.83× (weaker than 76% of peers).Current ratio 1.26× vs peers 1.83× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Feb 25, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Operating margin rose 2.7 points to 34.6%

	Previous year	Latest year	Change
Revenue (12 months)	28.3B EUR	32.7B EUR	+15.6%
Net income (12 months)	7.6B EUR	9.6B EUR	+26.9%
Operating margin	31.9%	34.6%	+2.7 pts
Free cash flow (12 months)	9.1B EUR	11.1B EUR	+21.8%
Debt	4.7B EUR	4.4B EUR	−6.3%
Cash	12.7B EUR	12.9B EUR	+1.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in EUR, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	52.7%	50.5%	51.3%	51.3%	52.8%	▲ 1.6 pts
Operating margin	36.3%	30.7%	32.8%	31.9%	34.6%	▲ 2.7 pts
Net margin	31.6%	26.6%	28.4%	26.8%	29.4%	▲ 2.6 pts
Return on assets (ROA)	19.5%	15.5%	19.6%	15.6%	19.0%	▲ 3.4 pts
Return on equity (ROE)	58.0%	63.8%	58.3%	41.0%	49.0%	▲ 8.0 pts
Free cash flow margin	53.4%	34.0%	11.9%	32.2%	33.9%	▲ 1.7 pts
Current ratio	1.48×	1.28×	1.50×	1.53×	1.26×	▼ 18%
Quick ratio	1.06×	0.88×	0.96×	0.99×	0.79×	▼ 20%
Debt to equity	0.45×	0.48×	0.34×	0.25×	0.22×	▼ 12%
Interest coverage	123.63×	106.92×	59.22×	55.49×	95.53×	▲ 72%

ASML price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.30 vs a peer median of 0.87)bigger price swings (beta 1.30 vs peers 0.87)

Drawback: less short-term liquidity (current ratio 1.26 vs a peer median of 1.83)less liquidity (current ratio 1.26 vs peers 1.83)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #486 of 1,612 technology companies (top 31%)

See how it ranks against its peers

Worth knowing

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from EUR 14.0B in 2020 to EUR 32.7B in 2025.

ASML's fiscal-year revenue rose in each of the five years to 2025, from EUR 14.0B to EUR 32.7B.

Profit is backed by cash. Free cash flow is 115% of reported profit.

ASML's free cash flow is 115% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 35% (12 months to Dec 2025) vs a peer median of 6.3%.Operating margin 35% vs peers 6.3%.

ASML keeps 35% of revenue as operating profit, more than 95% of peers (median 6.3%).

Questions investors ask about ASML

Is ASML getting weaker?

Its latest SEC filing (Feb 25, 2026) got stronger: operating margin rose 2.7 points to 34.6%. Its overall score is 60/100, up 1 since Oct 28, 2026.

How is ASML valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,711 technology peers. EBITDA yield 2.4% vs a peer median of 4.2% (weaker than 66% of peers).EBITDA yield 2.4% vs peers 4.2% (weaker than 66% of peers).

Is ASML growing?

Yes, faster than most of its peers. Growth scores 71/100 against 1,711 technology peers. 3-year revenue growth 15.6% vs a peer median of 4.8% (stronger than 79% of peers).3-year revenue growth 15.6% vs peers 4.8% (stronger than 79% of peers).

How profitable is ASML?

More profitable than most of its peers. Profitability scores 99/100 against 1,711 technology peers. Operating margin 34.6% vs a peer median of 6.3% (stronger than 95% of peers).Operating margin 34.6% vs peers 6.3% (stronger than 95% of peers).

How risky is ASML?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.26× vs a peer median of 1.83× (weaker than 76% of peers).Current ratio 1.26× vs peers 1.83× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

28.3B EUR

32.7B EUR

+15.6%

Net income (12 months)

7.6B EUR

9.6B EUR

+26.9%

Operating margin

31.9%

34.6%

+2.7 pts

Free cash flow (12 months)

9.1B EUR

11.1B EUR

+21.8%

Debt

4.7B EUR

4.4B EUR

−6.3%

Cash

12.7B EUR

12.9B EUR

+1.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

52.7%

50.5%

51.3%

52.8%

▲ 1.6 pts

Operating margin

36.3%

30.7%

32.8%

31.9%

34.6%

▲ 2.7 pts

Net margin

31.6%

26.6%

28.4%

26.8%

29.4%

▲ 2.6 pts

Return on assets (ROA)

19.5%

15.5%

19.6%

15.6%

19.0%

▲ 3.4 pts

Return on equity (ROE)

58.0%

63.8%

58.3%

41.0%

49.0%

▲ 8.0 pts

Free cash flow margin

53.4%

34.0%

11.9%

32.2%

33.9%

▲ 1.7 pts

Current ratio

1.48×

1.28×

1.50×

1.53×

1.26×

▼ 18%

Quick ratio

1.06×

0.88×

0.96×

0.99×

0.79×

▼ 20%

Debt to equity

0.45×

0.48×

0.34×

0.25×

0.22×

▼ 12%

Interest coverage

123.63×

106.92×

59.22×

55.49×

95.53×

▲ 72%