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 1 287,256 200,985 268,992 266,748 355,841 572,160 - -
Change - -30.03% 33.84% -0.83% 33.4% 60.79% - -
Enterprise Value (EV) 1 283,740 197,123 266,613 257,684 345,228 558,460 550,138 538,363
Change - -30.53% 35.25% -3.35% 33.97% 61.77% -1.49% -2.14%
P/E 49.3x 35.7x 34.3x 35.3x 37.3x 39.3x 28.9x 22.4x
PBR 28.6x 22.7x 20x 14.5x 18.2x 22.3x 16.3x 11.9x
PEG - -24.38x 0.8x -10.8x 1.3x 0.7x 0.8x 0.8x
Capitalization / Revenue 15.4x 9.49x 9.76x 9.44x 10.9x 13.2x 10.5x 8.77x
EV / Revenue 15.2x 9.31x 9.67x 9.12x 10.6x 12.9x 10.1x 8.25x
EV / EBITDA 40.5x 27.8x 27.3x 25.9x 28x 29.7x 22.1x 17.3x
EV / EBIT 43.4x 30.3x 29.5x 28.6x 30.5x 32.3x 23.5x 18.5x
EV / FCF 28.5x 27.4x 81.1x 28.3x 31.1x 60.8x 32.2x 25.5x
FCF Yield 3.51% 3.66% 1.23% 3.53% 3.21% 1.64% 3.11% 3.92%
Dividend per Share 2 5.5 5.8 6.1 6.4 7.5 9.039 11.52 14.23
Rate of return 0.78% 1.15% 0.89% 0.94% 0.81% 0.61% 0.77% 0.95%
EPS 2 14.34 14.13 19.89 19.24 24.71 37.88 51.52 66.46
Distribution rate 38.4% 41% 30.7% 33.3% 30.4% 23.9% 22.4% 21.4%
Net sales 1 18,611 21,173 27,558 28,263 32,667 43,312 54,440 65,222
EBITDA 1 7,007 7,084 9,782 9,941 12,327 18,822 24,876 31,049
EBIT 1 6,536 6,501 9,042 9,023 11,301 17,298 23,375 29,172
Net income 1 5,883 5,624 7,839 7,572 9,393 14,722 19,420 24,097
Net Debt 1 -3,515 -3,862 -2,379 -9,064 -10,613 -13,700 -22,022 -33,797
Reference price 2 706.70 503.80 681.70 678.70 921.40 1,489.80 1,489.80 1,489.80
Nbr of stocks (in thousands) 406,474 398,937 394,590 393,028 386,196 384,052 - -
Announcement Date 1/19/22 A 1/25/23 A 1/24/24 A 1/29/25 A 1/28/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.76x13.04x30x0.6% 675B
33.4x11.12x27.56x0.37% 393B
32.37x7.17x22.26x1.52% 155B
31.49x3.42x15.74x1.68% 81.07B
52.59x6.97x24.32x0.28% 21.95B
40.86x13.14x27.27x0.92% 19.8B
20.8x3.02x12.91x1.46% 15.43B
49.19x9.07x26.99x - 14.39B
19.71x1.77x8.73x0.66% 12.49B
Average 35.57x 7.64x 21.75x 0.94% 154.28B
Weighted average by Cap. 36.58x 10.93x 27.07x 0.71%

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