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ASML Holding N.V. (ASML) 10-Year Financial Performance & Capital Metrics

ASML • • Industrial / General
TechnologySemiconductorsSemiconductor Manufacturing EquipmentWafer Fabrication Equipment
AboutASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers. It offers advanced semiconductor equipment systems, including lithography, metrology, and inspection systems. The company also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography solutions to manufacture various range of semiconductor nodes and technologies. In addition, it offers metrology and inspection systems, including YieldStar optical metrology systems to assess the quality of patterns on the wafers; and HMI electron beam solutions to locate and analyze individual chip defects. Further, the company provides computational lithography solutions, and lithography systems and control software solutions; and refurbishes and upgrades lithography systems, as well as offers customer support and related services. It operates in Japan, South Korea, Singapore, Taiwan, China, rest of Asia, the Netherlands, rest of Europe, the Middle East, Africa, and the United States. The company was formerly known as ASM Lithography Holding N.V. and changed its name to ASML Holding N.V. in 2001. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands.Show more
  • Revenue $28.26B +2.6%
  • EBITDA $9.94B +1.6%
  • Net Income $7.57B -3.4%
  • EPS (Diluted) 19.24 -1.5%
  • Gross Margin 51.28%
  • EBITDA Margin 35.17% -0.9%
  • Operating Margin 31.92% -2.7%
  • Net Margin 26.79% -5.8%
  • ROE 47.35% -32.8%
  • ROIC 61.28% -21.8%
  • Debt/Equity 0.27 -25.2%
  • Interest Coverage 56.20 -7.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 59.1%
  • ✓Strong 5Y profit CAGR of 23.9%
  • ✓FCF machine: 33.6% free cash flow margin
  • ✓Momentum leader: RS Rating 89 (top 11%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 19.0%

✗Weaknesses

  • ✗Expensive at 28.4x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y17.05%
5Y19.05%
3Y14.94%
TTM22.77%

Profit (Net Income) CAGR

10Y20.26%
5Y23.91%
3Y8.77%
TTM42.2%

EPS CAGR

10Y21.3%
5Y25.99%
3Y8.8%
TTM38.1%

ROCE

10Y Avg25.24%
5Y Avg33.93%
3Y Avg37.86%
Latest34.5%

Peer Comparison

Wafer Fabrication Equipment
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
UCTTUltra Clean Holdings, Inc.1.97B43.3683.3820.93%-7.52%-20.33%0.08%0.71
ASMLASML Holding N.V.516.86B1331.6069.212.56%30.58%51.86%1.84%0.27
LRCXLam Research Corporation273.15B217.4752.4023.68%29.66%57.01%1.98%0.48
AMATApplied Materials, Inc.253.01B319.0836.854.39%24.67%34.28%2.25%0.32
ACMRACM Research, Inc.3.12B52.2034.1140.23%13.3%6.21%2.24%0.17
VECOVeeco Instruments Inc.2.06B34.0927.727.63%7.23%5.62%2.22%0.41
ACLSAxcelis Technologies, Inc.2.96B96.5015.69-9.97%15.93%13.32%4.34%0.04
ASYSAmtech Systems, Inc.203.87M14.20-23.67-10.68%-38.18%-61.74%2.43%0.21

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+6.29B6.88B8.96B10.94B11.82B13.98B18.61B21.17B27.56B28.26B
Revenue Growth %0.07%0.09%0.3%0.22%0.08%0.18%0.33%0.14%0.3%0.03%
Cost of Goods Sold+3.39B3.73B4.94B5.91B6.54B7.18B8.8B10.47B13.42B13.77B
COGS % of Revenue0.54%0.54%0.55%0.54%0.55%0.51%0.47%0.49%0.49%0.49%
Gross Profit+2.9B3.15B4.02B5.03B5.28B6.8B9.81B10.7B14.14B14.49B
Gross Margin %0.46%0.46%0.45%0.46%0.45%0.49%0.53%0.51%0.51%0.51%
Gross Profit Growth %0.12%0.09%0.28%0.25%0.05%0.29%0.44%0.09%0.32%0.03%
Operating Expenses+1.33B1.39B1.58B2.06B2.49B2.75B3.06B4.2B5.09B5.47B
OpEx % of Revenue0.21%0.2%0.18%0.19%0.21%0.2%0.16%0.2%0.18%0.19%
Selling, General & Admin345.7M374.8M416.6M488M520.5M544.9M725.6M945.9M1.11B1.17B
SG&A % of Revenue0.05%0.05%0.05%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Research & Development1.07B1.11B1.26B1.58B1.97B2.2B2.55B3.25B3.98B4.3B
R&D % of Revenue0.17%0.16%0.14%0.14%0.17%0.16%0.14%0.15%0.14%0.15%
Other Operating Expenses-83.2M-93.8M-95.8M000-213.7M000
Operating Income+1.57B1.76B2.44B2.97B2.79B4.05B6.75B6.5B9.04B9.02B
Operating Margin %0.25%0.26%0.27%0.27%0.24%0.29%0.36%0.31%0.33%0.32%
Operating Income Growth %0.22%0.12%0.39%0.22%-0.06%0.45%0.67%-0.04%0.39%-0%
EBITDA+1.86B2.12B2.86B3.39B3.24B4.54B7.22B7.08B9.78B9.94B
EBITDA Margin %0.3%0.31%0.32%0.31%0.27%0.32%0.39%0.33%0.35%0.35%
EBITDA Growth %0.21%0.14%0.35%0.19%-0.04%0.4%0.59%-0.02%0.38%0.02%
D&A (Non-Cash Add-back)296.9M356.9M417.5M422.7M448.5M490.8M471M583.6M739.8M918.6M
EBIT1.48B1.66B2.34B2.97B2.8B4.06B6.76B6.52B9.24B9.21B
Net Interest Income+-16.81M-22.72M-48.47M-29.23M-24.64M-32.48M-46.49M-43.56M41.06M29.98M
Interest Income11.09M17.33M6.94M13.94M11.44M7.82M10.42M15.82M190.49M190.53M
Interest Expense27.9M40.06M55.41M43.17M36.08M40.29M56.92M59.38M149.42M160.55M
Other Income/Expense-16.5M33.7M-67M-22.1M-6.8M53.7M154.5M93.4M232.5M229.6M
Pretax Income+1.55B1.79B2.37B2.94B2.78B4.11B6.9B6.59B9.27B9.25B
Pretax Margin %0.25%0.26%0.26%0.27%0.24%0.29%0.37%0.31%0.34%0.33%
Income Tax+161.4M234.4M306M351.6M191.7M551.5M1.02B969.9M1.44B1.68B
Effective Tax Rate %0.9%0.87%0.87%0.88%0.93%0.87%0.85%0.85%0.85%0.82%
Net Income+1.39B1.56B2.07B2.59B2.59B3.55B5.88B5.62B7.84B7.57B
Net Margin %0.22%0.23%0.23%0.24%0.22%0.25%0.32%0.27%0.28%0.27%
Net Income Growth %0.16%0.12%0.33%0.25%0%0.37%0.66%-0.04%0.39%-0.03%
Net Income (Continuing)1.39B1.56B2.07B2.59B2.59B3.55B5.88B5.62B7.84B7.57B
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+3.263.634.616.286.067.8914.9413.8019.5419.24
EPS Growth %0.17%0.11%0.27%0.36%-0.04%0.3%0.89%-0.08%0.42%-0.02%
EPS (Basic)3.283.654.636.306.077.9114.9713.8119.5619.25
Diluted Shares Outstanding432.64M427.68M431.6M426.4M421.6M419.1M410.4M398M394.1M393.6M
Basic Shares Outstanding430.64M425.6M429.8M424.9M420.8M418.3M409.8M397.7M393.8M393.3M
Dividend Payout Ratio0.22%0.3%0.24%0.24%0.5%0.28%0.24%0.44%0.29%0.34%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+7.68B8.6B9.12B10.54B11.99B15.91B18.24B22.87B24.49B30.74B
Cash & Short-Term Investments3.4B4.08B3.37B4.04B4.66B7.34B7.61B7.32B7.04B12.74B
Cash Only2.45B2.92B953.7M779.15M3.49B4.5B4.83B7.21B7.03B12.74B
Short-Term Investments947.13M1.16B2.42B3.26B1.17B2.84B2.78B106.81M5.42M5.4M
Accounts Receivable1.16B1.23B2.26B2.4B2.82B3.33B4.57B6.99B7.28B5.44B
Days Sales Outstanding67.4165.1492.0980.1487.0386.9289.64120.4896.4870.3
Inventory2.64B2.87B3.15B3.67B3.98B4.83B5.48B7.62B9.58B11.71B
Days Inventory Outstanding284.19280.59232.36226.7222.05245.45227.41265.43260.48310.3
Other Current Assets297.95M236.17M131.42M126M163.72M131.44M201.6M281.36M112.73M289.89M
Total Non-Current Assets+5.57B8.69B9.54B9.61B10.38B11.32B12.08B13.13B15.62B17.85B
Property, Plant & Equipment1.62B1.7B1.76B1.73B2.3B2.81B3.16B4.1B5.82B7.23B
Fixed Asset Turnover3.89x4.05x5.10x6.33x5.15x4.97x5.90x5.16x4.73x3.91x
Goodwill2.62B4.9B4.66B4.54B4.49B4.62B4.57B4.52B4.61B4.59B
Intangible Assets735.94M1.33B1.2B1.1B1.09B1.05B954.92M835.46M744.51M621.29M
Long-Term Investments210.62M213.27M1.35B1.4B1.41B1.37B1.33B1.28B1.93B2.68B
Other Non-Current Assets362.56M519.97M551.44M596.19M652.12M804.1M958.93M733.71M642.93M790.79M
Total Assets+13.25B17.29B18.66B20.15B22.37B27.23B30.32B36B40.11B48.59B
Asset Turnover0.47x0.40x0.48x0.54x0.53x0.51x0.61x0.59x0.69x0.58x
Asset Growth %0.16%0.3%0.08%0.08%0.11%0.22%0.11%0.19%0.11%0.21%
Total Current Liabilities+3.1B3.3B3.25B3.8B4.64B6.6B12.33B17.84B16.34B20.05B
Accounts Payable417.63M596.21M859.01M964.8M1.05B1.38B2.12B2.54B2.36B3.5B
Days Payables Outstanding44.9458.3463.4459.5458.6169.9588.0288.6664.0792.78
Short-Term Debt4.2M248.93M59.5M46.34M54.97M61.82M554.44M787.26M46.98M1.08B
Deferred Revenue (Current)001000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities2.67B2.25B608.07M865.82M973.14M1.1B1.4B1.81B2.14B2.62B
Current Ratio2.48x2.61x2.80x2.78x2.58x2.41x1.48x1.28x1.50x1.53x
Quick Ratio1.63x1.74x1.84x1.81x1.73x1.68x1.03x0.86x0.91x0.95x
Cash Conversion Cycle306.65287.39261.01247.3250.47262.42229.02297.25292.88287.82
Total Non-Current Liabilities+1.79B4.13B4.35B4.71B5.28B6.79B7.82B9.43B10.27B10.06B
Long-Term Debt1.12B3.09B3.08B3.03B3.06B4.65B4.08B3.49B4.65B3.68B
Capital Lease Obligations0083.1M93.78M161.45M137.73M120.66M150.25M181.89M237.4M
Deferred Tax Liabilities255.96M398.85M349.94M251.41M231.74M238M241.31M264.8M373.61M299.19M
Other Non-Current Liabilities415.55M639.48M203.44M108.09M86.21M127.54M133.49M300.9M220.83M222.1M
Total Liabilities4.89B7.42B7.6B8.5B9.92B13.39B20.15B27.26B26.61B30.11B
Total Debt+1.13B3.34B3.22B3.17B3.28B4.85B4.76B4.42B4.88B4.99B
Net Debt-1.33B414.69M2.27B2.39B-212.17M349.96M-74.52M-2.79B-2.15B-7.74B
Debt / Equity0.13x0.34x0.29x0.27x0.26x0.35x0.47x0.51x0.36x0.27x
Debt / EBITDA0.60x1.58x1.13x0.94x1.01x1.07x0.66x0.62x0.50x0.50x
Net Debt / EBITDA-0.71x0.20x0.79x0.71x-0.07x0.08x-0.01x-0.39x-0.22x-0.78x
Interest Coverage56.09x43.90x44.03x68.68x77.35x100.55x118.59x109.48x60.51x56.20x
Total Equity+8.36B9.87B11.06B11.65B12.45B13.85B10.17B8.74B13.5B18.48B
Equity Growth %0.19%0.18%0.12%0.05%0.07%0.11%-0.27%-0.14%0.55%0.37%
Book Value per Share19.3323.0825.6227.3229.5333.0424.7821.9634.2646.94
Total Shareholders' Equity8.36B9.87B11.06B11.65B12.45B13.85B10.17B8.74B13.5B18.48B
Common Stock38.67M39.59M39.81M38.63M37.77M37.55M36.61M36M36.14M35.4M
Retained Earnings5.27B6.31B7.5B9.21B9.42B10.72B8.34B8.97B12.43B14.41B
Treasury Stock-475.48M-800.21M-572.37M-1.62B-1.01B-862.12M-2.43B-4.6B-3.32B-475.99M
Accumulated OCI470.89M604.22M258.02M285.24M274.65M179.18M334.49M424.77M346.31M454.09M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+2.06B1.76B1.75B3.17B3.23B4.31B11.31B8.29B5.35B11.66B
Operating CF Margin %0.33%0.26%0.2%0.29%0.27%0.31%0.61%0.39%0.19%0.41%
Operating CF Growth %0.96%-0.15%-0%0.81%0.02%0.33%1.63%-0.27%-0.35%1.18%
Net Income1.41B1.55B1.99B2.68B2.56B3.31B6.13B5.49B7.7B7.91B
Depreciation & Amortization299.44M373.49M398.67M432.88M434.44M442.19M473.9M625.73M772.37M1.03B
Stock-Based Compensation0000000000
Deferred Taxes46.15M-611.37K-8.09M-246.34M-233.44M-196.62M-437.42M-551.02M-131.25M-151.26M
Other Non-Cash Items286.31M142.51M224.54M371.73M363.37M259.06M36.69M336.84M604.57M730.48M
Working Capital Changes17.83M-310.89M-854.49M-61.35M110.02M494.67M5.1B2.38B-3.6B2.14B
Change in Receivables99.55M32.98M-866.73M-478.94M-345.33M-574.98M-1.26B-2.08B855.97M938.88M
Change in Inventory-89.33M-46.02M-273.78M-532.65M-398.95M-657.61M-503.72M-2.03B-1.62B-1.94B
Change in Payables-78.46M53.67M256.92M101.12M-11.93M311.08M749.11M396.71M-257.1M1.18B
Cash from Investing+-1.18B-3.36B-1.18B-507.66M-1.14B-1.26B-75.06M-1B-2.64B-2.73B
Capital Expenditures-379.49M-342.29M-345M-629.54M-873.32M-931.28M-980.23M-1.29B-2.16B-2.18B
CapEx % of Revenue0.06%0.05%0.04%0.06%0.07%0.07%0.05%0.06%0.08%0.08%
Acquisitions----------
Investments----------
Other Investing0-7.83M963.67K4.54M887.22K-11.35M-129.68M-234.39M-551.62M-549.66M
Cash from Financing+-848.74M2.07B-1.17B-1.78B-1.69B-700.69M-10.31B-6.97B-2.95B-2.96B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-307.67M-469.98M-497.93M-616.73M-1.31B-992.32M-1.43B-2.5B-2.31B-2.56B
Share Repurchases----------
Other Financing3.72M929.71K232.63M0000000
Net Change in Cash----------
Free Cash Flow+1.68B1.42B1.43B2.58B2.47B3.41B10.37B7.04B3.23B9.5B
FCF Margin %0.27%0.21%0.16%0.24%0.21%0.24%0.56%0.33%0.12%0.34%
FCF Growth %1.46%-0.15%0%0.81%-0.04%0.38%2.04%-0.32%-0.54%1.94%
FCF per Share3.893.333.306.055.878.1425.2617.688.2024.15
FCF Conversion (FCF/Net Income)1.49x1.13x0.85x1.22x1.25x1.21x1.92x1.47x0.68x1.54x
Interest Paid000000000160M
Taxes Paid0000000001.1B

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)18.03%17.09%19.75%22.83%21.51%27.03%48.99%59.49%70.49%47.35%
Return on Invested Capital (ROIC)18.23%15.23%15.5%16.26%15.93%22.99%41.68%60.76%78.39%61.28%
Gross Margin46.06%45.75%44.85%45.95%44.67%48.63%52.71%50.54%51.29%51.28%
Net Margin22.06%22.66%23.06%23.68%21.93%25.42%31.61%26.56%28.44%26.79%
Debt / Equity0.13x0.34x0.29x0.27x0.26x0.35x0.47x0.51x0.36x0.27x
Interest Coverage56.09x43.90x44.03x68.68x77.35x100.55x118.59x109.48x60.51x56.20x
FCF Conversion1.49x1.13x0.85x1.22x1.25x1.21x1.92x1.47x0.68x1.54x
Revenue Growth7.36%9.35%30.36%22.11%8%18.26%33.14%13.77%30.16%2.56%

Revenue by Segment

2015201620172018201920202021202220232024
Product---6.2B9B10.32B13.65B15.43B21.94B21.77B
Product Growth----45.10%14.68%32.34%13.02%42.18%-0.77%
Krf----679.7M1.01B1.32B1.65B2.2B1.99B
Krf Growth-----48.93%30.52%25.16%33.19%-9.59%
Arf Dry----401.2M427M431.9M623.7M780.2M774.4M
Arf Dry Growth-----6.43%1.15%44.41%25.09%-0.74%
Metrology And Inspection--------536.1M645.5M
Metrology And Inspection Growth---------20.41%
I-Line----133.5M146.4M142.3M211.5M278.4M369.2M
I-Line Growth-----9.66%-2.80%48.63%31.63%32.61%
Arfi----4.71B3.92B4.96B5.24B9.02B-
Arfi Growth------16.80%26.62%5.58%72.20%-
Euv----2.8B4.46B6.28B7.05B--
Euv Growth-----59.44%40.78%12.11%--
Metrology and inspection----274.4M350.1M513.7M659.6M--
Metrology and inspection Growth-----27.59%46.73%28.40%--
Service And Field Options2.05B2.22B2.68B800M------
Service And Field Options Growth-8.46%20.48%-70.14%------
High NA selling price---270M------
High NA selling price Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
CHINA-779.55M920.6M1.84B1.38B2.32B2.74B2.92B7.25B10.2B
CHINA Growth--18.09%100.17%-25.24%68.72%17.91%6.39%148.69%40.59%
KOREA, REPUBLIC OF1.97B1.58B3.07B3.73B2.2B4.15B6.22B6.05B6.95B6.41B
KOREA, REPUBLIC OF Growth--19.87%94.21%21.41%-40.88%88.53%49.89%-2.85%14.95%-7.78%
UNITED STATES1.22B1.13B1.51B1.96B1.98B1.66B1.58B1.99B3.15B4.52B
UNITED STATES Growth--7.23%33.95%29.84%0.94%-16.32%-4.45%25.78%58.26%43.49%
TAIWAN-------8.1B8.07B4.35B
TAIWAN Growth---------0.26%-46.08%
JAPAN668.38M404.26M390.5M567.6M463.2M542.8M459.3M1.01B613.6M1.16B
JAPAN Growth--39.52%-3.40%45.35%-18.39%17.18%-15.38%119.60%-39.16%88.40%
SINGAPORE121.39M245.78M159.2M222.5M120M84.9M126.2M475.5M282.1M285M
SINGAPORE Growth-102.48%-35.23%39.76%-46.07%-29.25%48.65%276.78%-40.67%1.03%
NETHERLANDS3.52M1.51M3.9M1.2M2.6M1.6M14.2M9.2M25.1M16.6M
NETHERLANDS Growth--57.06%157.94%-69.23%116.67%-38.46%787.50%-35.21%172.83%-33.86%
Rest Of Asia--------3.9M3.5M
Rest Of Asia Growth----------10.26%
Europe and Middle East-551.33M850.8M631.7M314.6M483.3M134.6M624.5M--
Europe and Middle East Growth--54.32%-25.75%-50.20%53.62%-72.15%363.97%--
Asia---1.9M2.6M1.6M1.8M7.2M--
Asia Growth----36.84%-38.46%12.50%300.00%--
TAIWAN, PROVINCE OF CHINA1.55B2.08B2.15B1.99B5.36B4.73B7.33B---
TAIWAN, PROVINCE OF CHINA Growth-34.37%2.91%-7.26%169.26%-11.68%54.88%---
Segment Geographical Group of Countries Group One543.98M19.76M3.3M-------
Segment Geographical Group of Countries Group One Growth--96.37%-83.30%-------
Europe211.04M---------
Europe Growth----------

Frequently Asked Questions

Valuation & Price

ASML Holding N.V. (ASML) has a price-to-earnings (P/E) ratio of 69.2x. This suggests investors expect higher future growth.

Growth & Financials

ASML Holding N.V. (ASML) reported $32.21B in revenue for fiscal year 2024. This represents a 470% increase from $5.65B in 2011.

ASML Holding N.V. (ASML) grew revenue by 2.6% over the past year. Growth has been modest.

Yes, ASML Holding N.V. (ASML) is profitable, generating $9.85B in net income for fiscal year 2024 (26.8% net margin).

Dividend & Returns

Yes, ASML Holding N.V. (ASML) pays a dividend with a yield of 0.49%. This makes it attractive for income-focused investors.

ASML Holding N.V. (ASML) has a return on equity (ROE) of 47.4%. This is excellent, indicating efficient use of shareholder capital.

ASML Holding N.V. (ASML) generated $9.45B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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