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ASML Holding NV
(ASML)
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Rating:76Outperform
Price Target:
€1,737.00
▲(39.63% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by ASML’s very strong financial profile (high, stable margins; low leverage; substantial free cash flow). Technicals are supportive on a longer-term basis but show some near-term softness versus the 20-day trend. The biggest offset is valuation, with a high P/E and minimal dividend yield limiting the score despite strong fundamentals.
Positive Factors
High-NA EUV adoption
Production use of ASML’s High-NA EUV with Intel on 18A is a structural validation of ASML’s technology roadmap. It cements ASML’s leadership in next-generation patterning, creates high switching costs via co-development data, and supports multi-year demand from leading foundries.
Negative Factors
Customer concentration
High revenue concentration in a few major customers makes ASML’s top-line timing and magnitude highly sensitive to those firms’ capex cycles and procurement choices. That dependence increases demand volatility and gives large customers leverage over delivery schedules and feature priorities.
Read all positive and negative factors
Positive Factors
Negative Factors
High-NA EUV adoption
Production use of ASML’s High-NA EUV with Intel on 18A is a structural validation of ASML’s technology roadmap. It cements ASML’s leadership in next-generation patterning, creates high switching costs via co-development data, and supports multi-year demand from leading foundries.
Read all positive factors
ASML Holding NV (ASML) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€580.92B
Dividend Yield0.47%
Average Volume (3M)779.56K
Price to Earnings (P/E)58.7
Beta (1Y)2.13
Revenue Growth9.84%
EPS Growth14.73%
CountryNL
Employees43,129
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)27.56
Shares Outstanding388,147,670
10 Day Avg. Volume839,276
30 Day Avg. Volume779,560
Financial Highlights & Ratios
PEG Ratio1.31
Price to Book (P/B)18.25
Price to Sales (P/S)10.96
P/FCF Ratio32.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€2,103.25Price Target Upside69.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
EPS Forecast (FY)37.67
Revenue Forecast (FY)€42.88B
ASML Holding NV Business Overview & Revenue Model
Company Description
ASML Holding N.V. specializes in the design, manufacturing, sales, and servicing of cutting-edge semiconductor manufacturing equipment. Their product portfolio encompasses sophisticated lithography, metrology, and inspection systems, primarily cat...
How the Company Makes Money
ASML primarily makes money by selling lithography equipment and by providing recurring services and software that support those systems over their multiyear operating lives.
1) Lithography system sales (largest driver)
- EUV lithography systems: ...
ASML Holding NV Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.33B | 32.67B | 28.26B | 27.56B | 21.17B | 18.61B |
| Gross Profit | 18.63B | 17.26B | 14.08B | 13.84B | 10.47B | 9.65B |
| EBITDA | 13.56B | 12.43B | 10.18B | 10.02B | 7.16B | 7.21B |
| Net Income | 10.64B | 9.61B | 7.57B | 7.84B | 5.62B | 5.88B |
Balance Sheet | ||||||
| Total Assets | 50.21B | 50.57B | 48.59B | 39.96B | 36.30B | 30.23B |
| Cash, Cash Equivalents and Short-Term Investments | 7.58B | 13.32B | 12.74B | 7.01B | 7.38B | 7.59B |
| Total Debt | 1.98B | 2.71B | 4.69B | 4.63B | 4.26B | 4.58B |
| Total Liabilities | 28.39B | 30.95B | 30.11B | 26.51B | 27.49B | 20.09B |
| Stockholders Equity | 21.83B | 19.61B | 18.48B | 13.45B | 8.81B | 10.14B |
Cash Flow | ||||||
| Free Cash Flow | 10.00B | 11.08B | 9.08B | 3.25B | 7.22B | 9.91B |
| Operating Cash Flow | 11.49B | 12.66B | 11.17B | 5.44B | 8.49B | 10.85B |
| Investing Cash Flow | -4.35B | -3.78B | -2.61B | -2.69B | -1.03B | -72.00M |
| Financing Cash Flow | -7.71B | -8.67B | -2.83B | -3.00B | -7.14B | -9.89B |
ASML Holding NV Technical Analysis
Positive
1244.00
Price Trends
1513.58
Positive
1359.72
Positive
1180.69
Positive
Market Momentum
7.23
Positive
53.20
Neutral
31.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:ASML, the sentiment is Positive. The current price of 1244 is below the 20-day moving average (MA) of 1582.39, below the 50-day MA of 1513.58, and above the 200-day MA of 1180.69, indicating a bullish trend. The MACD of 7.23 indicates Positive momentum. The RSI at 53.20 is Neutral, neither overbought nor oversold. The STOCH value of 31.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:ASML.
ASML Holding NV Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €41.69B | 42.29 | 19.21% | 0.58% | 2.03% | 105.75% | |
76 Outperform | €580.92B | 58.74 | 52.14% | 0.73% | 9.84% | 14.73% | |
68 Neutral | €18.04B | 117.02 | 35.84% | 1.65% | 4.42% | -15.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
NL:ASML
ASML Holding NV
1,593.40
991.61
164.78%
NL:ASM
ASM International NV
902.60
453.45
100.96%
NL:BESI
BE Semiconductor
239.50
116.63
94.91%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.