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 1 287,256 200,985 268,992 266,748 355,841 590,362 - -
Change - -30.03% 33.84% -0.83% 33.4% 65.91% - -
Enterprise Value (EV) 1 283,740 197,123 266,613 257,684 345,228 576,736 568,410 556,619
Change - -30.53% 35.25% -3.35% 33.97% 67.06% -1.44% -2.07%
P/E 49.3x 35.7x 34.3x 35.3x 37.3x 40.2x 30.3x 23.6x
PBR 28.6x 22.7x 20x 14.5x 18.2x 23x 16.7x 12.2x
PEG - -24.38x 0.8x -10.8x 1.3x 0.7x 0.9x 0.8x
Capitalization / Revenue 15.4x 9.49x 9.76x 9.44x 10.9x 13.7x 11x 9.24x
EV / Revenue 15.2x 9.31x 9.67x 9.12x 10.6x 13.4x 10.6x 8.72x
EV / EBITDA 40.5x 27.8x 27.3x 25.9x 28x 31.5x 23.5x 18.6x
EV / EBIT 43.4x 30.3x 29.5x 28.6x 30.5x 33.8x 25x 19.7x
EV / FCF 28.5x 27.4x 81.1x 28.3x 31.1x 62.5x 33.2x 26.5x
FCF Yield 3.51% 3.66% 1.23% 3.53% 3.21% 1.6% 3.01% 3.77%
Dividend per Share 2 5.5 5.8 6.1 6.4 7.5 9.112 11.68 14.13
Rate of return 0.78% 1.15% 0.89% 0.94% 0.81% 0.59% 0.76% 0.92%
EPS 2 14.34 14.13 19.89 19.24 24.71 38.19 50.73 65.17
Distribution rate 38.4% 41% 30.7% 33.3% 30.4% 23.9% 23% 21.7%
Net sales 1 18,611 21,173 27,558 28,263 32,667 42,969 53,541 63,868
EBITDA 1 7,007 7,084 9,782 9,941 12,327 18,313 24,145 29,849
EBIT 1 6,536 6,501 9,042 9,023 11,301 17,047 22,753 28,287
Net income 1 5,883 5,624 7,839 7,572 9,393 14,400 18,959 23,255
Net Debt 1 -3,515 -3,862 -2,379 -9,064 -10,613 -13,625 -21,951 -33,743
Reference price 2 706.70 503.80 681.70 678.70 921.40 1,537.00 1,537.00 1,537.00
Nbr of stocks (in thousands) 406,474 398,937 394,590 393,028 386,196 384,100 - -
Announcement Date 19/01/22 25/01/23 24/01/24 29/01/25 28/01/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
55.82x16.84x45.05x0.33% 392B
40.74x8.97x28.09x1.22% 182B
35.92x3.73x16.96x1.45% 83.15B
49.65x15.9x33.02x0.77% 23.12B
26.61x4.01x16.87x1.14% 19.23B
53.73x6.98x24.69x0.29% 21.16B
30.11x2.21x12.07x0.54% 15.6B
53.88x9.77x31.1x - 13.92B
40.55x3.6x22.5x1.31% 8.63B
Average 43.00x 8.00x 25.59x 0.88% 84.32B
Weighted average by Cap. 48.30x 12.30x 35.06x 0.72%

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