ASML HOLDING NV-NY REG SHS (ASML)
USN070592100
We assign a fundamental rating of 4 out of 10 to ASML. ASML was compared to 107 industry peers in the Semiconductors & Semiconductor Equipment industry. While ASML is still in line with the averages on profitability rating, there are concerns on its financial health. ASML shows excellent growth, but is valued quite expensive already.
1. Profitability
1.1 Basic Checks
ASML had positive earnings in the past year.
In the past 5 years ASML has always been profitable.
In the past 5 years ASML always reported a positive cash flow from operatings.
1.2 Ratios
The profitability ratios for ASML are negative, so there is not much use analyzing them.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | N/A | ||
| ROE | N/A | ||
| ROIC | N/A |
ROA(3y)18.14%
ROA(5y)15.59%
ROE(3y)52.84%
ROE(5y)40.26%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
ASML has a better Profit Margin (29.45%) than 91.51% of its industry peers.
In the last couple of years the Profit Margin of ASML has grown nicely.
The Operating Margin of ASML (34.52%) is better than 92.45% of its industry peers.
In the last couple of years the Operating Margin of ASML has grown nicely.
With a decent Gross Margin value of 49.98%, ASML is doing good in the industry, outperforming 65.09% of the companies in the same industry.
In the last couple of years the Gross Margin of ASML has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.52% | ||
| PM (TTM) | 29.45% | ||
| GM | 49.98% |
OM growth 3Y4.37%
OM growth 5Y5.55%
PM growth 3Y3.65%
PM growth 5Y4.99%
GM growth 3Y3.14%
GM growth 5Y3%
2. Health
2.1 Basic Checks
ASML does not have a ROIC to compare to the WACC, probably because it is not profitable.
ASML has less shares outstanding than it did 1 year ago.
ASML has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, ASML has an improved debt to assets ratio.
2.2 Solvency
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | N/A | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC9.95%
2.3 Liquidity
A Current Ratio of 1.48 indicates that ASML should not have too much problems paying its short term obligations.
ASML's Current ratio of 1.48 is on the low side compared to the rest of the industry. ASML is outperformed by 83.02% of its industry peers.
ASML has a Quick Ratio of 1.48. This is a bad value and indicates that ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
ASML has a worse Quick ratio (0.94) than 83.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.48 | ||
| Quick Ratio | 0.94 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 4.24% over the past year.
ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 26.71% yearly.
Looking at the last year, ASML shows a very strong growth in Revenue. The Revenue has grown by 30.16%.
Measured over the past years, ASML shows a very strong growth in Revenue. The Revenue has been growing by 20.29% on average per year.
EPS 1Y (TTM)4.24%
EPS 3Y32.87%
EPS 5Y26.71%
EPS growth Q2Q-35.83%
Revenue 1Y (TTM)30.16%
Revenue growth 3Y25.39%
Revenue growth 5Y20.29%
Revenue growth Q2QN/A
3.2 Future
The Earnings Per Share is expected to grow by 17.71% on average over the next years. This is quite good.
Based on estimates for the next years, ASML will show a quite strong growth in Revenue. The Revenue will grow by 9.30% on average per year.
EPS Next Y-3.21%
EPS Next 2Y22.04%
EPS Next 3Y20.31%
EPS Next 5Y17.71%
Revenue Next Year2.01%
Revenue Next 2Y13.93%
Revenue Next 3Y12.61%
Revenue Next 5Y9.3%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
ASML is valuated quite expensively with a Price/Earnings ratio of 44.68.
The rest of the industry has a similar Price/Earnings ratio as ASML.
Compared to an average S&P500 Price/Earnings ratio of 24.80, ASML is valued quite expensively.
With a Price/Forward Earnings ratio of 27.33, ASML can be considered very expensive at the moment.
ASML's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ASML is cheaper than 63.21% of the companies in the same industry.
ASML's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 21.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.68 | ||
| Fwd PE | 27.33 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as ASML.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 31.02 |
4.3 Compensation for Growth
ASML has a very decent profitability rating, which may justify a higher PE ratio.
ASML's earnings are expected to grow with 20.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)1.67
EPS Next 2Y22.04%
EPS Next 3Y20.31%
5. Dividend
5.1 Amount
With a yearly dividend of 0.72%, ASML is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 1.95, ASML pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.72, ASML pays less dividend than the S&P500 average, which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.72% |
5.2 History
On average, the dividend of ASML grows each year by 33.44%, which is quite nice.
ASML has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)33.44%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The dividend of ASML is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DPN/A
EPS Next 2Y22.04%
EPS Next 3Y20.31%
ASML HOLDING NV-NY REG SHS
NASDAQ:ASML (4/19/2024, 1:01:03 PM)
864.57
-24.46 (-2.75%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
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Market Cap340.14B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.72% |
Dividend Growth(5Y)
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Surprises & Revisions
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Revenue NQ rev (1m)
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.68 | ||
| Fwd PE | 27.33 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)1.67
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | N/A | ||
| ROE | N/A | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 34.52% | ||
| PM (TTM) | 29.45% | ||
| GM | 49.98% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset TurnoverN/A
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | N/A | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.48 | ||
| Quick Ratio | 0.94 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)4.24%
EPS 3Y32.87%
EPS 5Y
EPS growth Q2Q
EPS Next Y-3.21%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)30.16%
Revenue growth 3Y25.39%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
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EBIT Next 5Y
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