ASML HOLDING NV-NY REG SHS (ASML) Stock Fundamental Analysis
USA - NASDAQ:ASML - USN070592100
932.15 USD
+4.35 (+0.47%)
961.7 USD
+29.55 (+3.17%)
Taking everything into account, ASML scores 7 out of 10 in our fundamental rating. ASML was compared to 112 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the health and profitability get an excellent rating, making ASML a very profitable company, without any liquidiy or solvency issues. ASML is growing strongly while it is still valued neutral. This is a good combination! This makes ASML very considerable for growth and quality investing!
1. Profitability
1.1 Basic Checks
In the past year ASML was profitable.
In the past year ASML had a positive cash flow from operations.
ASML had positive earnings in each of the past 5 years.
In the past 5 years ASML always reported a positive cash flow from operatings.
1.2 Ratios
ASML's Return On Assets of 19.14% is amongst the best of the industry. ASML outperforms 91.07% of its industry peers.
ASML has a Return On Equity of 43.78%. This is amongst the best in the industry. ASML outperforms 94.64% of its industry peers.
ASML's Return On Invested Capital of 30.33% is amongst the best of the industry. ASML outperforms 97.32% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ASML is significantly above the industry average of 10.87%.
The 3 year average ROIC (27.63%) for ASML is below the current ROIC(30.33%), indicating increased profibility in the last year.
| 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
ASML's Profit Margin of 29.31% is amongst the best of the industry. ASML outperforms 91.07% of its industry peers.
ASML's Profit Margin has improved in the last couple of years.
ASML's Operating Margin of 34.90% is amongst the best of the industry. ASML outperforms 93.75% of its industry peers.
ASML's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 52.58%, ASML is in the better half of the industry, outperforming 69.64% of the companies in the same industry.
ASML's Gross Margin has improved in the last couple of years.
| 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.
Compared to 1 year ago, ASML has about the same amount of shares outstanding.
Compared to 5 years ago, ASML has less shares outstanding
Compared to 1 year ago, ASML has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 8.97 indicates that ASML is not in any danger for bankruptcy at the moment.
ASML has a Altman-Z score of 8.97. This is in the better half of the industry: ASML outperforms 70.54% of its industry peers.
The Debt to FCF ratio of ASML is 0.51, which is an excellent value as it means it would take ASML, only 0.51 years of fcf income to pay off all of its debts.
ASML's Debt to FCF ratio of 0.51 is amongst the best of the industry. ASML outperforms 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 | 8.97 |
ROIC/WACC2.99
WACC10.15%
2.3 Liquidity
ASML has a Current Ratio of 1.41. This is a normal value and indicates that ASML is financially healthy and should not expect problems in meeting its short term obligations.
ASML has a worse Current ratio (1.41) than 85.71% of its industry peers.
ASML has a Quick Ratio of 1.41. This is a bad value and indicates that ASML is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.79, ASML is doing worse than 91.96% of the companies in the same industry.
The current and quick ratio evaluation for ASML is rather negative, while it does have 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
ASML shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 40.22%, which is quite impressive.
ASML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 25.62% yearly.
Looking at the last year, ASML shows a very strong growth in Revenue. The Revenue has grown by 26.41%.
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
The Earnings Per Share is expected to grow by 17.24% on average over the next years. This is quite good.
The Revenue is expected to grow by 11.02% on average over the next years. This is quite good.
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
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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
Based on the Price/Earnings ratio of 33.07, the valuation of ASML can be described as expensive.
Based on the Price/Earnings ratio, ASML is valued a bit cheaper than 64.29% of the companies in the same industry.
When comparing the Price/Earnings ratio of ASML to the average of the S&P500 Index (27.38), we can say ASML is valued slightly more expensively.
A Price/Forward Earnings ratio of 30.91 indicates a quite expensive valuation of ASML.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ASML is on the same level as its industry peers.
ASML is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.86, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.07 | ||
| Fwd PE | 30.91 |
4.2 Price Multiples
66.96% of the companies in the same industry are more expensive than ASML, based on the Enterprise Value to EBITDA ratio.
ASML's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ASML is cheaper than 73.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 33.93 | ||
| EV/EBITDA | 25.47 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of ASML may justify a higher PE ratio.
A more expensive valuation may be justified as ASML's earnings are expected to grow with 17.44% in the coming years.
PEG (NY)1.28
PEG (5Y)1.29
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.
Compared to an average industry Dividend Yield of 2.23, ASML pays a better dividend. On top of this ASML pays more dividend than 80.36% of the companies listed in the same industry.
With a Dividend Yield of 0.82, ASML pays less dividend than the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.82% |
5.2 History
On average, the dividend of ASML grows each year by 14.61%, which is quite nice.
ASML has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of ASML decreased 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.
ASML's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP26.57%
EPS Next 2Y15.57%
EPS Next 3Y17.44%
932.15
+4.35 (+0.47%)
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 Cap367.11B
Analysts75.61
Price Target884.91 (-5.07%)
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 | 33.07 | ||
| Fwd PE | 30.91 | ||
| P/S | 9.73 | ||
| P/FCF | 33.93 | ||
| P/OCF | 27.95 | ||
| P/B | 14.53 | ||
| P/tB | 26.56 | ||
| EV/EBITDA | 25.47 |
EPS(TTM)28.19
EY3.02%
EPS(NY)30.16
Fwd EY3.24%
FCF(TTM)27.47
FCFY2.95%
OCF(TTM)33.36
OCFY3.58%
SpS95.85
BVpS64.16
TBVpS35.1
PEG (NY)1.28
PEG (5Y)1.29
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 | 8.97 |
F-Score8
WACC10.15%
ROIC/WACC2.99
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%