We are updating our long-term ASML forecasts as the firm intends to expand Low-NA EUV and DUV immersion capacity by 30% in 2027 and another potential 30% in 2028.
ASML’s machines can last 30 years, providing recurring service revenue. The switching costs and intangible assets required to displace these machines are enormous, with no competitor coming close to ASML’s technological leadership.
ASML sells a low-volume, high-price product. Lithography machines represent a high proportion of customer costs, so if the company fails to innovate, customers will look for alternatives.
|
Metric
|
ASML
|
KLAC
|
AMAT
|
|---|---|---|---|
Price/Earnings (Normalized) | 59.91 | 63.22 | 60.23 |
Price/Book Value | 28.79 | 51.65 | 19.78 |
Price/Sales | 17.88 | 23.26 | 16.42 |
Price/Cash Flow | 48.43 | 57.87 | 59.29 |
|
Metric
|
ASML
|
KLAC
|
AMAT
|
|---|---|---|---|
Quick Ratio | 0.73 | 1.98 | 1.67 |
Current Ratio | 1.33 | 3.03 | 2.51 |
Interest Coverage | — | 19.31 | 30.18 |
|
Metric
|
ASML
|
KLAC
|
AMAT
|
|---|---|---|---|
Return on Assets (Normalized) | 22.69% | 29.68% | 21.71% |
Return on Equity (Normalized) | 54.81% | 96.44% | 37.83% |
Return on Invested Capital (Normalized) | 47.02% | 44.22% | 22.22% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| ASML Holding NV
ASMLF
| LOCK|<t@<CdJ | LOCK|W< | $682B | |||
| ASML Holding NV ADR
ASML
| LOCK|^R$z%LH | LOCK|&! | $682B | |||
| Applied Materials Inc
AMAT
| LOCK|M^p?#%< | LOCK|^$! | $473B | |||
| Lam Research Corp
LRCX
| LOCK|F$v^#zqq | LOCK|L$^ | $433B | |||
| KLA Corp
KLAC
| LOCK|VNS&ctr | LOCK|^v | $301B | |||
| Tokyo Electron Ltd
TOELF
| — | LOCK|Bvx | $199B | |||
| Tokyo Electron Ltd ADR
TOELY
| — | LOCK|d^ | $199B | |||
| Teradyne Inc
TER
| LOCK|^j<M^d | LOCK|nls | $55B | |||
| Qnity Electronics Inc
Q
| LOCK|Wv#s$s? | LOCK|C?<# | $30B | |||
| Entegris Inc
ENTG
| LOCK|Q!C$>X | LOCK|TQ | $21B |
United States