ASML HOLDING NV-NY REG SHS (ASML) Stock Fundamental Analysis
USA - NASDAQ:ASML - USN070592100
963.51 USD
+5.71 (+0.6%)
966 USD
+2.49 (+0.26%)
Overall ASML gets a fundamental rating of 7 out of 10. We evaluated ASML against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. ASML gets an excellent profitability rating and is at the same time showing great financial health properties. ASML is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings would make ASML suitable for growth and quality investing!
1. Profitability
1.1 Basic Checks
ASML had positive earnings in the past year.
ASML had a positive operating cash flow in the past year.
ASML had positive earnings in each of the past 5 years.
ASML had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
ASML has a better Return On Assets (19.14%) than 91.07% of its industry peers.
The Return On Equity of ASML (43.78%) is better than 94.64% of its industry peers.
Looking at the Return On Invested Capital, with a value of 30.33%, ASML belongs to the top of the industry, outperforming 97.32% of the companies in the same industry.
ASML had an Average Return On Invested Capital over the past 3 years of 27.63%. This is significantly above the industry average of 10.87%.
The last Return On Invested Capital (30.33%) for ASML is above the 3 year average (27.63%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.14% | ||
| ROE | 43.78% | ||
| ROIC | 30.33% |
ROA(3y)16.75%
ROA(5y)16.43%
ROE(3y)48.67%
ROE(5y)44.39%
ROIC(3y)27.63%
ROIC(5y)25.44%
1.3 Margins
With an excellent Profit Margin value of 29.31%, ASML belongs to the best of the industry, outperforming 91.07% of the companies in the same industry.
In the last couple of years the Profit Margin of ASML has grown nicely.
With an excellent Operating Margin value of 34.90%, ASML belongs to the best of the industry, outperforming 93.75% of the companies in the same industry.
In the last couple of years the Operating Margin of ASML has grown nicely.
ASML's Gross Margin of 52.58% is fine compared to the rest of the industry. ASML outperforms 69.64% of its industry peers.
In the last couple of years the Gross Margin of ASML has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.9% | ||
| PM (TTM) | 29.31% | ||
| GM | 52.58% |
OM growth 3Y-4.54%
OM growth 5Y6.79%
PM growth 3Y-6.68%
PM growth 5Y4.17%
GM growth 3Y0.44%
GM growth 5Y4.34%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ASML is creating value.
ASML has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for ASML has been reduced compared to 5 years ago.
The debt/assets ratio for ASML has been reduced compared to a year ago.
2.2 Solvency
ASML has an Altman-Z score of 9.13. This indicates that ASML is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 9.13, ASML is in the better half of the industry, outperforming 70.54% of the companies in the same industry.
ASML has a debt to FCF ratio of 0.51. This is a very positive value and a sign of high solvency as it would only need 0.51 years to pay back of all of its debts.
The Debt to FCF ratio of ASML (0.51) is better than 80.36% of its industry peers.
A Debt/Equity ratio of 0.17 indicates that ASML is not too dependend on debt financing.
ASML has a Debt to Equity ratio (0.17) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.17 | ||
| Debt/FCF | 0.51 | ||
| Altman-Z | 9.13 |
ROIC/WACC2.98
WACC10.16%
2.3 Liquidity
A Current Ratio of 1.41 indicates that ASML should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.41, ASML is doing worse than 85.71% of the companies in the same industry.
A Quick Ratio of 0.79 indicates that ASML may have some problems paying its short term obligations.
With a Quick ratio value of 0.79, ASML is not doing good in the industry: 91.96% of the companies in the same industry are doing better.
ASML does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.41 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 40.22% over the past year.
Measured over the past years, ASML shows a very strong growth in Earnings Per Share. The EPS has been growing by 25.62% on average per year.
The Revenue has grown by 26.41% in the past year. This is a very strong growth!
ASML shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.05% yearly.
EPS 1Y (TTM)40.22%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%47.13%
Revenue 1Y (TTM)26.41%
Revenue growth 3Y14.94%
Revenue growth 5Y19.05%
Sales Q2Q%23.21%
3.2 Future
Based on estimates for the next years, ASML will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.24% on average per year.
ASML is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.02% yearly.
EPS Next Y25.9%
EPS Next 2Y15.57%
EPS Next 3Y17.44%
EPS Next 5Y17.24%
Revenue Next Year15.84%
Revenue Next 2Y9.3%
Revenue Next 3Y10.51%
Revenue Next 5Y11.02%
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 estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. Valuation
4.1 Price/Earnings Ratio
ASML is valuated quite expensively with a Price/Earnings ratio of 34.05.
Based on the Price/Earnings ratio, ASML is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
ASML's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.41.
Based on the Price/Forward Earnings ratio of 31.83, the valuation of ASML can be described as expensive.
ASML's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.87. ASML is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.05 | ||
| Fwd PE | 31.83 |
4.2 Price Multiples
ASML's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. ASML is cheaper than 67.86% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASML indicates a somewhat cheap valuation: ASML is cheaper than 74.11% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 34.94 | ||
| EV/EBITDA | 26.08 |
4.3 Compensation for Growth
ASML's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
ASML has an outstanding profitability rating, which may justify a higher PE ratio.
ASML's earnings are expected to grow with 17.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.31
PEG (5Y)1.33
EPS Next 2Y15.57%
EPS Next 3Y17.44%
5. Dividend
5.1 Amount
ASML has a yearly dividend return of 0.82%, which is pretty low.
ASML's Dividend Yield is rather good when compared to the industry average which is at 2.23. ASML pays more dividend than 80.36% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, ASML's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.82% |
5.2 History
The dividend of ASML is nicely growing with an annual growth rate of 14.61%!
ASML has paid a dividend for at least 10 years, which is a reliable track record.
ASML has decreased its dividend recently.
Dividend Growth(5Y)14.61%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
26.57% of the earnings are spent on dividend by ASML. This is a low number and sustainable payout ratio.
The dividend of ASML is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP26.57%
EPS Next 2Y15.57%
EPS Next 3Y17.44%
963.51
+5.71 (+0.6%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners50.81%
Inst Owner Change-14.63%
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap379.46B
Analysts75.61
Price Target884.91 (-8.16%)
Short Float %0.7%
Short Ratio1.45
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.82% |
Yearly Dividend7.32
Dividend Growth(5Y)14.61%
DP26.57%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.54%
Min EPS beat(2)1.85%
Max EPS beat(2)11.23%
EPS beat(4)3
Avg EPS beat(4)5.03%
Min EPS beat(4)-0.46%
Max EPS beat(4)11.23%
EPS beat(8)7
Avg EPS beat(8)5.91%
EPS beat(12)11
Avg EPS beat(12)7.64%
EPS beat(16)15
Avg EPS beat(16)7.77%
Revenue beat(2)1
Avg Revenue beat(2)-1.38%
Min Revenue beat(2)-3.04%
Max Revenue beat(2)0.27%
Revenue beat(4)3
Avg Revenue beat(4)-0.06%
Min Revenue beat(4)-3.04%
Max Revenue beat(4)2.45%
Revenue beat(8)5
Avg Revenue beat(8)-0.26%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.08%
PT rev (3m)-1.8%
EPS NQ rev (1m)-0.29%
EPS NQ rev (3m)-8.37%
EPS NY rev (1m)0%
EPS NY rev (3m)1.18%
Revenue NQ rev (1m)-0.31%
Revenue NQ rev (3m)-5.93%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.66%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.05 | ||
| Fwd PE | 31.83 | ||
| P/S | 10.01 | ||
| P/FCF | 34.94 | ||
| P/OCF | 28.78 | ||
| P/B | 14.96 | ||
| P/tB | 27.35 | ||
| EV/EBITDA | 26.08 |
EPS(TTM)28.3
EY2.94%
EPS(NY)30.27
Fwd EY3.14%
FCF(TTM)27.58
FCFY2.86%
OCF(TTM)33.48
OCFY3.48%
SpS96.21
BVpS64.41
TBVpS35.23
PEG (NY)1.31
PEG (5Y)1.33
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.14% | ||
| ROE | 43.78% | ||
| ROCE | 36.63% | ||
| ROIC | 30.33% | ||
| ROICexc | 39.72% | ||
| ROICexgc | 68.12% | ||
| OM | 34.9% | ||
| PM (TTM) | 29.31% | ||
| GM | 52.58% | ||
| FCFM | 28.66% |
ROA(3y)16.75%
ROA(5y)16.43%
ROE(3y)48.67%
ROE(5y)44.39%
ROIC(3y)27.63%
ROIC(5y)25.44%
ROICexc(3y)43.14%
ROICexc(5y)39.83%
ROICexgc(3y)80.76%
ROICexgc(5y)81.19%
ROCE(3y)33.37%
ROCE(5y)30.72%
ROICexcg growth 3Y-15.63%
ROICexcg growth 5Y18.79%
ROICexc growth 3Y0.79%
ROICexc growth 5Y25.18%
OM growth 3Y-4.54%
OM growth 5Y6.79%
PM growth 3Y-6.68%
PM growth 5Y4.17%
GM growth 3Y0.44%
GM growth 5Y4.34%
F-Score8
Asset Turnover0.65
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.17 | ||
| Debt/FCF | 0.51 | ||
| Debt/EBITDA | 0.3 | ||
| Cap/Depr | 206.83% | ||
| Cap/Sales | 6.14% | ||
| Interest Coverage | 79.5 | ||
| Cash Conversion | 91.9% | ||
| Profit Quality | 97.79% | ||
| Current Ratio | 1.41 | ||
| Quick Ratio | 0.79 | ||
| Altman-Z | 9.13 |
F-Score8
WACC10.16%
ROIC/WACC2.98
Cap/Depr(3y)258.74%
Cap/Depr(5y)228.24%
Cap/Sales(3y)8.6%
Cap/Sales(5y)9.22%
Profit Quality(3y)91.44%
Profit Quality(5y)107.3%
High Growth Momentum
Growth
EPS 1Y (TTM)40.22%
EPS 3Y10.24%
EPS 5Y25.62%
EPS Q2Q%47.13%
EPS Next Y25.9%
EPS Next 2Y15.57%
EPS Next 3Y17.44%
EPS Next 5Y17.24%
Revenue 1Y (TTM)26.41%
Revenue growth 3Y14.94%
Revenue growth 5Y19.05%
Sales Q2Q%23.21%
Revenue Next Year15.84%
Revenue Next 2Y9.3%
Revenue Next 3Y10.51%
Revenue Next 5Y11.02%
EBIT growth 1Y37.16%
EBIT growth 3Y9.72%
EBIT growth 5Y27.13%
EBIT Next Year33.08%
EBIT Next 3Y21.81%
EBIT Next 5Y17.22%
FCF growth 1Y57.21%
FCF growth 3Y-3.05%
FCF growth 5Y29.82%
OCF growth 1Y29.28%
OCF growth 3Y-1.24%
OCF growth 5Y25.03%