ASML Holding N.V. — Financial Overview, Stock Price, Market Cap

Financial Performance

5Y price score: 151

10Y return: 1,564.6%

DATE RANGE:

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946.1

52-week range

1999.9

1,641.52

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Required return / cost of capital

FCFF terminal growth rate

Your fair value & Margin of safety

To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.

Forecast:

Valuation

Free Cash Flow Yield

1.4 %

Dividend Yield TTM

0.5 %

Market cap $

$ 633,148

Price / Earnings TTM

Price / Book TTM

25.4

PEG TTM

1.5

Earnings growth and return

LTM

5YR

10YR

Total return (price & dividends)

61.7 %

111.9 %

1,564.6 %

Free cash flow per share growth

4,621.4 %

229.4 %

646.1 %

Earnings per share growth

135.9 %

191.4 %

669.8 %

Founded: 1,984

Employees: 41,505

Business Summary:ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography, metrology, and inspection related systems for memory and logic chipmakers. The company 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. It also offers metrology and inspection systems, including YieldStar optical metrology solutions to measure the quality of patterns on the wafers; and HMI e-beam solutions to locate and analyze individual chip defects. In addition, the company provides computational lithography and software solutions to create applications that enhance the setup of the lithography system; and mature products and services that refurbish used lithography equipment and offers associated services. It operates in Japan, South Korea, Singapore, Taiwan, China, the Netherlands, Europe, the United States, and rest of Asia. 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.

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Fair Value Reference Estimate

Latest Earnings Call Takeaways

2026 Q3 (Oct 14, 2026)

1) Financial Highlights
- Total net sales reached a record €11.7 billion in Q3 2026, exceeding guidance.
- Net system sales were €8.4 billion, with €4.1 billion from EUV systems and €4.3 billion from non-EUV systems.
- Gross margin was 57.5%, above guidance, driven by high-margin components in installed base management.
- Net income for the quarter was €5.0 billion, resulting in earnings per share of €12.95.
- Free cash flow was robust at €11.4 billion, supporting strong order momentum.

2) Segment Performance
- Installed base management sales were €3.3 billion, exceeding guidance by €400 million due to strong demand for productivity upgrades.
- Sales split: 54% from logic and 46% from memory systems.
- Memory net system sales are expected to grow around 75% YoY, driven by capacity expansion and EUV adoption.
- Logic net system sales are projected to grow around 10% YoY.

3) Capacity Expansion and Operational Plans
- ASML anticipates ramping capacity significantly, targeting 65 low-NA EUV systems in 2026, a 50% increase from 2025.
- Plans to increase capacity by 30% in 2027 and potentially more in 2028 due to strong customer demand.
- New products, including next-generation low-NA EUV systems, are set to enhance wafer capacity significantly.
- The company is focused on optimizing production cycles and expanding its supplier base to meet demand.

4) Market Dynamics and Customer Engagement
- Strong demand signals from customers indicate that they expect demand to outpace supply through at least 2028, leading to accelerated capacity build-out plans.
- ASML is receiving orders for 2028 and 2029, reflecting increased visibility and commitment from customers.
- Discussions with customers about pricing have led to increases for critical products, with a focus on value-based pricing.
- The company is monitoring supply chain dynamics closely, ensuring alignment with customer demand and capacity expansion.

5) Guidance and Outlook
- Q4 2026 total net sales are expected to be between €14.2 billion and €15.2 billion, with a gross margin around 57%.
- Full-year 2026 total net sales are projected between €44 billion and €45 billion, with an anticipated YoY increase of around 36%.
- The transcript lacks specific details on the impact of pricing strategies on future gross margins and the exact capacity numbers for 2027 and 2028.

Bottom line: ASML's strong Q3 results and optimistic outlook are underpinned by robust demand for both logic and memory systems, significant capacity expansion plans, and effective pricing strategies. The company is well-positioned to capitalize on the growing semiconductor market, making it an attractive prospect for shareholders.