ASML Holding N.V. (ASML) Financial Ratios
30 years of historical data (1996–2025) · Technology · Semiconductors
EV/EBITDA
↓
42.29
↑+27% vs avg
5yr avg: 33.35
30Y Low8.8·High61.2
P/FCF
↑
47.98
+8% vs avg
5yr avg: 44.51
30Y Low9.4·High184.5
P/B Ratio
↓
26.11
+13% vs avg
5yr avg: 23.02
30Y Low3.0·High32.1
ROE
↓
48.5%
-12% vs avg
5yr avg: 55.0%
30Y Low-41%·High70%
Debt/EBITDA
↓
0.23
↓-55% vs avg
5yr avg: 0.50
30Y Low0.2·High15.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ASML Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ASML Holding N.V. trades at 55.5x earnings, 30% above its 5-year average of 42.5x, sitting at the 88th percentile of its historical range. Compared to the Technology sector median P/E of 27.5x, the stock trades at a premium of 102%. On a free-cash-flow basis, the stock trades at 48.0x P/FCF, 8% above the 5-year average of 44.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $599.6B | $416.1B | $272.8B | $298.3B | $217.5B | $326.7B | $204.4B | $124.8B | $66.4B | $75.0B | $48.0B |
| Enterprise Value | $587.6B | $405.9B | $265.1B | $296.1B | $214.7B | $326.7B | $204.8B | $124.6B | $68.7B | $77.3B | $48.4B |
| P/E Ratio → | 55.47 | 45.08 | 36.02 | 38.74 | 39.59 | 53.29 | 61.81 | 48.83 | 24.78 | 37.70 | 30.91 |
| P/S Ratio | 16.28 | 13.26 | 9.65 | 10.82 | 10.27 | 17.56 | 14.62 | 10.56 | 6.06 | 8.37 | 6.98 |
| P/B Ratio | 26.11 | 21.22 | 14.76 | 22.09 | 24.89 | 32.13 | 14.76 | 10.02 | 5.70 | 6.79 | 4.86 |
| P/FCF | 47.98 | 39.08 | 28.70 | 92.35 | 30.90 | 31.52 | 59.93 | 50.43 | 25.71 | 52.62 | 33.73 |
| P/OCF | 42.02 | 34.22 | 23.39 | 55.78 | 26.24 | 28.90 | 47.47 | 38.63 | 20.91 | 42.81 | 27.33 |
P/E links to full P/E history page with 30-year chart
ASML EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ASML Holding N.V.'s enterprise value stands at 42.3x EBITDA, 27% above its 5-year average of 33.4x. The Technology sector median is 17.4x, placing the stock at a 143% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.93 | 9.38 | 10.75 | 10.14 | 17.55 | 14.65 | 10.54 | 6.28 | 8.62 | 7.04 |
| EV / EBITDA | 42.29 | 34.28 | 26.66 | 30.27 | 30.30 | 45.24 | 45.08 | 38.45 | 20.29 | 27.05 | 22.88 |
| EV / EBIT | 46.13 | 37.05 | 28.79 | 32.06 | 32.94 | 48.32 | 50.43 | 44.45 | 23.18 | 32.97 | 29.07 |
| EV / FCF | — | 38.12 | 27.89 | 91.69 | 30.51 | 31.51 | 60.03 | 50.34 | 26.64 | 54.21 | 34.02 |
ASML Profitability
Margins and return-on-capital ratios measuring operating efficiency
ASML Holding N.V. earns an operating margin of 34.6%. Operating margins have expanded from 32.8% to 34.6% over the past 3 years, signaling improving operational efficiency. Return on equity of 48.5% is exceptionally high. ROIC of 80.9% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.8% | 52.8% | 51.3% | 51.3% | 50.5% | 52.7% | 48.6% | 44.7% | 46.0% | 44.9% | 45.7% |
| Operating Margin | 34.6% | 34.6% | 31.9% | 32.8% | 30.7% | 36.3% | 29.0% | 23.6% | 27.1% | 27.2% | 25.6% |
| Net Profit Margin | 29.4% | 29.4% | 26.8% | 28.4% | 26.6% | 31.6% | 25.4% | 21.9% | 23.7% | 23.1% | 22.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 48.5% | 48.5% | 47.4% | 70.5% | 59.5% | 49.0% | 27.0% | 21.5% | 22.8% | 19.8% | 17.1% |
| ROA | 18.6% | 18.6% | 17.1% | 20.6% | 17.0% | 20.4% | 14.3% | 12.2% | 13.4% | 11.5% | 10.2% |
| ROIC | 80.9% | 80.9% | 61.3% | 78.4% | 60.8% | 41.7% | 23.0% | 15.9% | 16.3% | 15.5% | 15.2% |
| ROCE | 39.6% | 39.6% | 34.5% | 43.1% | 36.0% | 35.0% | 21.1% | 16.4% | 18.7% | 16.6% | 14.6% |
ASML Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ASML Holding N.V. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (92% below the sector average of 2.9x). The company holds a net cash position — cash of $12.9B exceeds total debt of $2.7B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.14 | 0.14 | 0.27 | 0.36 | 0.51 | 0.47 | 0.35 | 0.26 | 0.27 | 0.29 | 0.34 |
| Debt / EBITDA | 0.23 | 0.23 | 0.50 | 0.50 | 0.62 | 0.66 | 1.07 | 1.01 | 0.94 | 1.13 | 1.58 |
| Net Debt / Equity | — | -0.52 | -0.42 | -0.16 | -0.32 | -0.01 | 0.03 | -0.02 | 0.21 | 0.21 | 0.04 |
| Net Debt / EBITDA | -0.86 | -0.86 | -0.78 | -0.22 | -0.39 | -0.01 | 0.08 | -0.07 | 0.71 | 0.79 | 0.20 |
| Debt / FCF | — | -0.96 | -0.81 | -0.67 | -0.40 | -0.01 | 0.10 | -0.09 | 0.93 | 1.59 | 0.29 |
| Interest Coverage | — | — | 56.20 | 60.51 | 109.48 | 118.59 | 100.55 | 77.35 | 68.68 | 44.03 | 43.90 |
Net cash position: cash ($12.9B) exceeds total debt ($2.7B)
ASML Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.26x means ASML Holding N.V. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.79x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.50x to 1.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.53 | 1.50 | 1.28 | 1.48 | 2.41 | 2.58 | 2.78 | 2.80 | 2.61 |
| Quick Ratio | 0.79 | 0.79 | 0.95 | 0.91 | 0.86 | 1.03 | 1.68 | 1.73 | 1.81 | 1.84 | 1.74 |
| Cash Ratio | 0.55 | 0.55 | 0.64 | 0.43 | 0.41 | 0.62 | 1.11 | 1.01 | 1.06 | 1.04 | 1.24 |
| Asset Turnover | — | 0.62 | 0.58 | 0.69 | 0.59 | 0.61 | 0.51 | 0.53 | 0.54 | 0.48 | 0.40 |
| Inventory Turnover | 1.30 | 1.30 | 1.18 | 1.40 | 1.38 | 1.61 | 1.49 | 1.64 | 1.61 | 1.57 | 1.30 |
| Days Sales Outstanding | — | 48.44 | 70.30 | 96.48 | 120.48 | 89.64 | 86.92 | 87.03 | 80.14 | 92.09 | 65.14 |
ASML Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ASML Holding N.V. returns 1.6% to shareholders annually — split between a 0.5% dividend yield and 1.1% buyback yield. The payout ratio of 26.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.6% | 0.9% | 0.8% | 1.1% | 0.4% | 0.5% | 1.0% | 0.9% | 0.7% | 1.0% |
| Payout Ratio | 26.5% | 26.5% | 33.8% | 29.4% | 44.5% | 24.2% | 27.9% | 50.4% | 23.8% | 24.1% | 30.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.8% | 2.2% | 2.8% | 2.6% | 2.5% | 1.9% | 1.6% | 2.0% | 4.0% | 2.7% | 3.2% |
| FCF Yield | 2.1% | 2.6% | 3.5% | 1.1% | 3.2% | 3.2% | 1.7% | 2.0% | 3.9% | 1.9% | 3.0% |
| Buyback Yield | 1.1% | 1.4% | 0.2% | 0.3% | 2.1% | 2.7% | 0.5% | 0.3% | 1.8% | 0.6% | 0.9% |
| Total Shareholder Yield | 1.6% | 2.0% | 1.1% | 1.1% | 3.2% | 3.2% | 1.0% | 1.4% | 2.7% | 1.3% | 1.9% |
| Shares Outstanding | — | $389M | $394M | $394M | $398M | $410M | $419M | $422M | $426M | $432M | $428M |
Peer Comparison
Compare ASML with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ASMLYou | $600B | 55.5 | 42.3 | 48.0 | 52.8% | 34.6% | 48.5% | 80.9% | 0.2 |
 AMAT | $340B | 49.5 | 40.4 | 59.7 | 48.7% | 29.2% | 35.5% | 33.3% | 0.8 |
 LRCX | $371B | 71.6 | 58.8 | 68.5 | 48.7% | 32.0% | 58.2% | 55.7% | 0.8 |
 KLAC | $239B | 59.8 | 43.1 | 63.8 | 62.3% | 43.1% | 100.8% | 46.5% | 1.1 |
 ONTO | $15B | 105.8 | 73.9 | 48.8 | 49.7% | 13.2% | 6.8% | 5.7% | 0.1 |
 COHU | $2B | -31.2 | — | 217.2 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 TER | $60B | 110.0 | 73.2 | 133.1 | 58.6% | 21.7% | 19.7% | 19.8% | 0.4 |
 MKSI | $20B | 67.2 | 26.2 | 39.8 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 ENTG | $24B | 100.6 | 20.8 | 59.9 | 44.4% | 28.9% | 6.2% | 9.3% | 3.0 |
 ACLS | $6B | 45.0 | 39.7 | 51.8 | 44.9% | 14.2% | 11.7% | 9.6% | 0.3 |
 CAMT | $7B | 83.7 | — | — | 48.9% | 25.2% | 23.1% | 13.7% | 1.7 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Full ASML Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Should I Buy ASML Right Now?
Bull case, key risks, Wall St analyst verdict, and what council investors are saying — updated daily.
See ASML's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs ASML Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare ASML vs AMAT
Side-by-side business, growth, and profitability comparison vs Applied Materials, Inc..
Start ComparisonASML — Frequently Asked Questions
Quick answers to the most common questions about buying ASML stock.
What is ASML Holding N.V.'s P/E ratio?
ASML Holding N.V.'s current P/E ratio is 55.5x. The historical average is 40.4x. This places it at the 88th percentile of its historical range.
What is ASML Holding N.V.'s EV/EBITDA?
ASML Holding N.V.'s current EV/EBITDA is 42.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 26.0x.
What is ASML Holding N.V.'s ROE?
ASML Holding N.V.'s return on equity (ROE) is 48.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 25.1%.
Is ASML stock overvalued?
Based on historical data, ASML Holding N.V. is trading at a P/E of 55.5x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is ASML Holding N.V.'s dividend yield?
ASML Holding N.V.'s current dividend yield is 0.48% with a payout ratio of 26.5%.
What are ASML Holding N.V.'s profit margins?
ASML Holding N.V. has 52.8% gross margin and 34.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does ASML Holding N.V. have?
ASML Holding N.V.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.