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ASML Holding NV ADR ASML

Morningstar Rating
$1,085.26 +22.76 (2.14%)
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Company Report

ASML: Raising Our Fair Value Estimate to EUR 900; TSMC Adopting High-NA EUV Earlier Than Expected

We raise wide-moat ASML’s fair value estimate to EUR 900 from EUR 790 as we increase our long-term revenue and EBIT forecasts. While our 2025 estimates remain unchanged we raise our long-term revenue forecasts due to higher confidence in ASML’s long-term prospects and better certainty of high-NA extreme ultraviolet adoption. Our fair value represents a 2025 P/E ratio of 31.5 times.

Price vs Fair Value

ASML is trading at a 722% premium.
Price
$1,085.26
Fair Value
$729.00
Uncertainty
High
1-Star Price
$8,849.50
5-Star Price
$257.00
Economic Moat
Ztzl
Capital Allocation
Mqdfmhty

Bulls Say, Bears Say

Bulls

ASML’s machines last more than 30 years, providing recurring service revenue. The switching costs and intangible assets required to displace these machines are enormous, with no competitor coming even close to ASML’s technological leadership

Bears

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.

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News

Trading Information

Previous Close Price
$1,062.50
Day Range
$1,066.301,100.62
52-Week Range
$564.001,110.09
Bid/Ask
$1,085.27 / $1,088.79
Market Cap
$426.96 Bil
Volume/Avg
1.1 Mil / 1.0 Mil

Key Statistics

Price/Earnings (Normalized)
55.17
Price/Sales
15.09
Dividend Yield (Trailing)
0.61%
Dividend Yield (Forward)
0.61%
Total Yield
0.84%

Company Profile

ASML is the leader in photolithography systems used in the manufacturing of semiconductors. Photolithography is the process in which a light source is used to expose circuit patterns from a photo mask onto a semiconductor wafer. The latest technological advances in this segment allow chipmakers to continually increase the number of transistors on the same area of silicon, with lithography historically representing a high portion of the cost of making cutting-edge chips. ASML outsources the manufacturing of most of its parts, acting like an assembler. ASML’s main clients are TSMC, Samsung, and Intel.
Sector
Technology
Industry
Semiconductor Equipment & Materials
Stock Style Box
Large Growth
Total Number of Employees
42,713

Competitors

Valuation

Metric
ASML
AMAT
KLAC
Price/Earnings (Normalized)
55.1729.5438.02
Price/Book Value
28.6611.0737.33
Price/Sales
15.097.7112.22
Price/Cash Flow
46.5625.9834.41
Price/Earnings
ASML
AMAT
KLAC

Financial Strength

Metric
ASML
AMAT
KLAC
Quick Ratio
0.761.821.36
Current Ratio
1.542.802.14
Interest Coverage
32.4210.76
Quick Ratio
ASML
AMAT
KLAC

Profitability

Metric
ASML
AMAT
KLAC
Return on Assets (Normalized)
19.23%22.48%21.67%
Return on Equity (Normalized)
60.82%42.56%104.66%
Return on Invested Capital (Normalized)
44.24%28.55%35.79%
Return on Assets
ASML
AMAT
KLAC
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Semiconductor Equipment & Materials Industry Comparables

1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ASML Holding NV
ASMLF
RczwbyktrDmsjd$428.7 Bil
Applied Materials Inc
AMAT
RdydwvgqhVrj$201.5 Bil
Lam Research Corp
LRCX
TlndpdfcjSzvp$139.9 Bil
KLA Corp
KLAC
JqylghrkhkVfxm$115.5 Bil
Tokyo Electron Ltd
TOELF
Bhrg$103.8 Bil
Tokyo Electron Ltd ADR
TOELY
Bwk$103.8 Bil
Disco Corp
DISPF
Pmgq$42.8 Bil
Disco Corp ADR
DSCSY
Smvmt$42.8 Bil
Teradyne Inc
TER
TwlkygfqYbcvq$24.4 Bil

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