Company Valuation: ASML Holding N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 287,256 200,985 268,992 266,748 355,841 628,923 - -
Change - -30.03% 33.84% -0.83% 33.4% 76.74% - -
Enterprise Value (EV) 1 283,740 197,123 266,613 257,684 345,228 617,999 610,467 602,234
Change - -30.53% 35.25% -3.35% 33.97% 79.01% -1.22% -1.35%
P/E 49.3x 35.7x 34.3x 35.3x 37.3x 51.6x 37.6x 30.6x
PBR 28.6x 22.7x 20x 14.5x 18.2x 27.3x 19.9x 14.6x
PEG - -24.38x 0.8x -10.8x 1.3x 1.8x 1x 1.3x
Capitalization / Revenue 15.4x 9.49x 9.76x 9.44x 10.9x 16x 12.9x 11.4x
EV / Revenue 15.2x 9.31x 9.67x 9.12x 10.6x 15.7x 12.5x 10.9x
EV / EBITDA 40.5x 27.8x 27.3x 25.9x 28x 40x 29.2x 24.9x
EV / EBIT 43.4x 30.3x 29.5x 28.6x 30.5x 43.1x 31.3x 25.9x
EV / FCF 28.5x 27.4x 81.1x 28.3x 31.1x 91.8x 43.5x 34.4x
FCF Yield 3.51% 3.66% 1.23% 3.53% 3.21% 1.09% 2.3% 2.91%
Dividend per Share 2 5.5 5.8 6.1 6.4 7.5 8.768 10.8 12.87
Rate of return 0.78% 1.15% 0.89% 0.94% 0.81% 0.54% 0.66% 0.79%
EPS 2 14.34 14.13 19.89 19.24 24.71 31.69 43.51 53.48
Distribution rate 38.4% 41% 30.7% 33.3% 30.4% 27.7% 24.8% 24.1%
Net sales 1 18,611 21,173 27,558 28,263 32,667 39,275 48,926 55,380
EBITDA 1 7,007 7,084 9,782 9,941 12,327 15,439 20,896 24,148
EBIT 1 6,536 6,501 9,042 9,023 11,301 14,335 19,527 23,224
Net income 1 5,883 5,624 7,839 7,572 9,393 12,219 16,480 19,639
Net Debt 1 -3,515 -3,862 -2,379 -9,064 -10,613 -10,924 -18,455 -26,689
Reference price 2 706.70 503.80 681.70 678.70 921.40 1,634.40 1,634.40 1,634.40
Nbr of stocks (in thousands) 406,474 398,937 394,590 393,028 386,196 384,803 - -
Announcement Date 1/19/22 1/25/23 1/24/24 1/29/25 1/28/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
62.64x18.9x50.59x0.29% 439B
46.1x10.13x31.89x1.08% 206B
40.14x4.11x18.77x1.26% 93.65B
189.13x56.12x144.34x0.13% 31.4B
56.39x18.16x37.74x0.68% 26.48B
56.8x7.35x26.02x0.28% 22.37B
30.76x4.64x19.63x0.99% 22.21B
33.32x2.43x13.26x0.49% 17.26B
59.22x10.8x34.37x - 15.3B
Average 63.83x 14.74x 41.84x 0.65% 97.16B
Weighted average by Cap. 59.08x 15.44x 43.31x 0.61%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield