Comprehensive Stock Comparison
Compare Axcelis Technologies, Inc. (ACLS) vs ASML Holding N.V. (ASML) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ASML | 11.0% revenue growth vs ACLS's -17.6% |
| Value | ACLS | Lower P/E (22.6x vs 41.3x), PEG 1.07 vs 1.68 |
| Quality / Margins | ASML | 29.4% net margin vs ACLS's 14.3% |
| Stability / Safety | ASML | Beta 1.45 vs ACLS's 1.62 |
| Dividends | ASML | 0.5% yield; ACLS pays no meaningful dividend |
| Momentum (1Y) | ASML | +105.6% vs ACLS's +50.8% |
| Efficiency (ROA) | ASML | 18.3% ROA vs ACLS's 8.8%, ROIC 80.9% vs 9.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Axcelis Technologies designs and manufactures ion implantation equipment used in semiconductor chip fabrication. It generates revenue primarily from selling its implanters — high energy, high current, and medium current models — with aftermarket services like spare parts and maintenance contributing a significant portion. The company's moat lies in its specialized expertise in ion implantation technology and its established relationships with major semiconductor manufacturers.
ASML is the world's only manufacturer of extreme ultraviolet (EUV) lithography machines — the most advanced equipment needed to produce cutting-edge semiconductors. It generates revenue primarily from selling these multi-million-dollar systems (over 80% of sales) and related services like maintenance and upgrades. Its monopoly on EUV technology — which took decades and billions to develop — creates an insurmountable moat, as no competitor can realistically replicate its complex ecosystem.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ASML leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). ACLS leads in 1 (Valuation Metrics).
Financial Metrics (TTM)
ASML is the larger business by revenue, generating $31.4B annually — 37.4x ACLS's $839M. ASML is the more profitable business, keeping 29.4% of every revenue dollar as net income compared to ACLS's 14.3%. On growth, ACLS holds the edge at -5.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| RevenueTrailing 12 months | $839M | $31.4B |
| EBITDAEarnings before interest/tax | $137M | $11.8B |
| Net IncomeAfter-tax profit | $120M | $9.2B |
| Free Cash FlowCash after capex | $107M | $10.7B |
| Gross MarginGross profit ÷ Revenue | +44.9% | +52.8% |
| Operating MarginEBIT ÷ Revenue | +14.2% | +34.6% |
| Net MarginNet income ÷ Revenue | +14.3% | +29.4% |
| FCF MarginFCF ÷ Revenue | +12.8% | +34.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -5.6% | -9.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -28.6% | -4.8% |
Valuation Metrics
At 21.7x trailing earnings, ACLS trades at a 58% valuation discount to ASML's 51.8x P/E. Adjusting for growth (PEG ratio), ACLS offers better value at 1.03x vs ASML's 2.10x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| Market CapShares × price | $2.7B | $563.0B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $551.0B |
| Trailing P/EPrice ÷ TTM EPS | 21.74x | 51.82x |
| Forward P/EPrice ÷ next-FY EPS est. | 22.64x | 41.31x |
| PEG RatioP/E ÷ EPS growth rate | 1.03x | 2.10x |
| EV / EBITDAEnterprise value multiple | 18.79x | 39.45x |
| Price / SalesMarket cap ÷ Revenue | 3.19x | 15.21x |
| Price / BookPrice ÷ Book value/share | 2.53x | 24.40x |
| Price / FCFMarket cap ÷ FCF | 25.01x | 44.83x |
Profitability & Efficiency
ASML delivers a 47.1% return on equity — every $100 of shareholder capital generates $47 in annual profit, vs $12 for ACLS. ACLS carries lower financial leverage with a 0.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to ASML's 0.14x. On the Piotroski fundamental quality scale (0–9), ASML scores 8/9 vs ACLS's 5/9, reflecting strong financial health.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| ROE (TTM)Return on equity | +11.6% | +47.1% |
| ROA (TTM)Return on assets | +8.8% | +18.3% |
| ROICReturn on invested capital | +9.6% | +80.9% |
| ROCEReturn on capital employed | +10.4% | +39.6% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.04x | 0.14x |
| Net DebtTotal debt minus cash | -$103M | -$10.2B |
| Cash & Equiv.Liquid assets | $145M | $12.9B |
| Total DebtShort + long-term debt | $42M | $2.7B |
| Interest CoverageEBIT ÷ Interest expense | 33.79x | — |
Total Returns (with DRIP)
A $10,000 investment in ASML five years ago would be worth $25,413 today (with dividends reinvested), compared to $20,803 for ACLS. Over the past 12 months, ASML leads with a +105.6% total return vs ACLS's +50.8%. The 3-year compound annual growth rate (CAGR) favors ASML at 33.5% vs ACLS's -13.7% — a key indicator of consistent wealth creation.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| YTD ReturnYear-to-date | -4.1% | +24.8% |
| 1-Year ReturnPast 12 months | +50.8% | +105.6% |
| 3-Year ReturnCumulative with dividends | -35.7% | +138.1% |
| 5-Year ReturnCumulative with dividends | +108.0% | +154.1% |
| 10-Year ReturnCumulative with dividends | +726.1% | +1540.9% |
| CAGR (3Y)Annualised 3-year return | -13.7% | +33.5% |
Risk & Volatility
ASML is the less volatile stock with a 1.45 beta — it tends to amplify market swings less than ACLS's 1.62 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ASML currently trades 93.8% from its 52-week high vs ACLS's 80.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.62x | 1.45x |
| 52-Week HighHighest price in past year | $102.93 | $1547.22 |
| 52-Week LowLowest price in past year | $40.40 | $578.51 |
| % of 52W HighCurrent price vs 52-week peak | +80.3% | +93.8% |
| RSI (14)Momentum oscillator 0–100 | 46.7 | 57.7 |
| Avg Volume (50D)Average daily shares traded | 597K | 1.5M |
Analyst Outlook
Wall Street rates ACLS as "Buy" and ASML as "Buy". Consensus price targets imply 33.2% upside for ACLS (target: $110) vs 0.5% for ASML (target: $1459). ASML is the only dividend payer here at 0.51% yield — a key consideration for income-focused portfolios.
| Metric | ACLSAxcelis Technolog… | ASMLASML Holding N.V. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $110.00 | $1458.50 |
| # AnalystsCovering analysts | 12 | 44 |
| Dividend YieldAnnual dividend ÷ price | — | +0.5% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | — | $6.30 |
| Buyback YieldShare repurchases ÷ mkt cap | +4.5% | +1.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Axcelis Technologie… (ACLS) | 100 | 370.2 | +270.2% |
| ASML Holding N.V. (ASML) | 100 | 520.9 | +420.9% |
ASML Holding N.V. (ASML) returned +154% over 5 years vs Axcelis Technologie… (ACLS)'s +108%. A $10,000 investment in ASML 5 years ago would be worth $25,413 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Axcelis Technologie… (ACLS) | $267M | $839M | +214.3% |
| ASML Holding N.V. (ASML) | $6.9B | $31.4B | +356.4% |
Axcelis Technologies, Inc.'s revenue grew from $267M (2016) to $839M (2025) — a 13.6% CAGR. ASML Holding N.V.'s revenue grew from $6.9B (2016) to $31.4B (2025) — a 18.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Axcelis Technologie… (ACLS) | 4.1% | 14.3% | +247.8% |
| ASML Holding N.V. (ASML) | 22.7% | 29.4% | +29.8% |
Axcelis Technologies, Inc.'s net margin went from 4% (2016) to 14% (2025). ASML Holding N.V.'s net margin went from 23% (2016) to 29% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Axcelis Technologie… (ACLS) | 7.6 | 21.1 | +177.6% |
| ASML Holding N.V. (ASML) | 37.7 | 45.1 | +19.6% |
Axcelis Technologies, Inc. has traded in a 8x–48x P/E range over 9 years; current trailing P/E is ~22x. ASML Holding N.V. has traded in a 25x–62x P/E range over 9 years; current trailing P/E is ~52x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Axcelis Technologie… (ACLS) | 0.36 | 3.8 | +955.6% |
| ASML Holding N.V. (ASML) | 3.63 | 23.73 | +553.7% |
Axcelis Technologies, Inc.'s EPS grew from $0.36 (2016) to $3.80 (2025) — a 30% CAGR. ASML Holding N.V.'s EPS grew from $3.63 (2016) to $23.73 (2025) — a 23% CAGR.
Chart 6Free Cash Flow — 5 Years
Axcelis Technologies, Inc. generated $107M FCF in 2025 (-24% vs 2021). ASML Holding N.V. generated $11B FCF in 2025 (+3% vs 2021).
ACLS vs ASML: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ACLS or ASML a better buy right now?
Axcelis Technologies, Inc. (ACLS) offers the better valuation at 21.7x trailing P/E (22.6x forward), making it the more compelling value choice. Analysts rate Axcelis Technologies, Inc. (ACLS) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ACLS or ASML?
On trailing P/E, Axcelis Technologies, Inc. (ACLS) is the cheapest at 21.7x versus ASML Holding N.V. at 51.8x. On forward P/E, Axcelis Technologies, Inc. is actually cheaper at 22.6x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Axcelis Technologies, Inc. wins at 1.07x versus ASML Holding N.V.'s 1.68x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — ACLS or ASML?
Over the past 5 years, ASML Holding N.V. (ASML) delivered a total return of +154.1%, compared to +108.0% for Axcelis Technologies, Inc. (ACLS). A $10,000 investment in ASML five years ago would be worth approximately $25K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ASML returned +1541% versus ACLS's +726.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ACLS or ASML?
By beta (market sensitivity over 5 years), ASML Holding N.V. (ASML) is the lower-risk stock at 1.45β versus Axcelis Technologies, Inc.'s 1.62β — meaning ACLS is approximately 12% more volatile than ASML relative to the S&P 500. On balance sheet safety, Axcelis Technologies, Inc. (ACLS) carries a lower debt/equity ratio of 4% versus 14% for ASML Holding N.V. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ACLS or ASML?
ASML Holding N.V. (ASML) is the more profitable company, earning 29.4% net margin versus 14.3% for Axcelis Technologies, Inc. — meaning it keeps 29.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ASML leads at 34.6% versus 14.2% for ACLS. At the gross margin level — before operating expenses — ASML leads at 52.8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ACLS or ASML more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Axcelis Technologies, Inc. (ACLS) is the more undervalued stock at a PEG of 1.07x versus ASML Holding N.V.'s 1.68x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Axcelis Technologies, Inc. (ACLS) trades at 22.6x forward P/E versus 41.3x for ASML Holding N.V. — 18.7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ACLS: 33.2% to $110.00.
07Which pays a better dividend — ACLS or ASML?
In this comparison, ASML (0.5% yield) pays a dividend. ACLS does not pay a meaningful dividend and should not be held primarily for income.
08Is ACLS or ASML better for a retirement portfolio?
For long-horizon retirement investors, ASML Holding N.V. (ASML) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (0.5% yield, +1541% 10Y return). Axcelis Technologies, Inc. (ACLS) carries a higher beta of 1.62 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ASML: +1541%, ACLS: +726.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ACLS and ASML?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. ASML pays a dividend while ACLS does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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