ASML Holding N.V. logo
ASML Holding N.V. ASML
$ 1 696.16 0.08%
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Annual report 2025
added 07-15-2026

ASML Holding N.V. Financial Ratios 2025-2006 | ASML

Brief overview of ASML Holding N.V.'s valuation multiples

Ratios are assessed across five available annual reports in the 2021–2025 interval.

The latest available valuation ratios are P/E 58.58x (median 46.46x), EV/EBITDA 37.8x (median 37.8x), P/S 14.68x (median 9.73x). Valuation is 26.1% above five-year reference levels. The premium requires support from earnings and returns.

The inverse P/E implies an earnings yield of 1.7%. This is not a dividend yield, but current earnings relative to market price.

Current measures of operating quality are ROE 49%, ROA 19%, ROCE 43%. Current resource returns are convincing and help explain a higher market valuation.

PEG is 2.25x. Price is well ahead of embedded growth, making market expectations demanding.

The cash conversion cycle decreased 66.4 days to 142.5 days, supporting working-capital efficiency.

Overall picture

ASML Holding N.V.'s business looks strong while multiples exceed historical reference points. Investors are pricing in continued momentum.

Annual Financial Ratios ASML Holding N.V.

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

P/E

58.6 37.8 47.0 46.5 46.4 66.6 44.4 29.2 39.2 29.9 24.2 32.3 30.7 23.7 10.6 15.5 -81.3 50.7 26.4 -

P/S

17.2 10.1 13.4 12.3 14.7 16.9 9.7 6.9 8.9 6.5 5.3 6.6 5.9 5.7 2.7 - - - - -

EPS

24.7 19.2 19.9 14.1 14.4 8.5 6.2 6.1 4.8 3.7 3.2 2.7 2.4 2.7 3.5 2.4 -0.3 0.8 1.4 -

EV (Enterprise Value)

581 B 304 B 388 B 282 B 293 B 244 B 122 B 80.9 B 78.7 B 52.3 B 37.1 B 43 B 34.2 B 30.1 B 15.5 B 17.3 B 13.2 B 17.2 B 16.5 B -1.66 B

EBITDA per Share

31.7 25.3 24.8 17.8 17.6 10.9 7.7 7.97 6.65 4.73 4.32 3.52 2.97 3.17 4.24 3.22 -0.05 0.95 2.04 -

EV/EBITDA

47.1 30.5 39.7 39.7 37.8 48.9 39.1 21.6 35.7 33.2 24.4 34.5 34.9 26.7 9.9 12.4 -615.2 41.8 17.5 -

PEG

2.25 1.3 1.67 1.92 1.45 3.1 2.48 1.31 2.3 4.01 1.38 2.0 -2.43 -1.09 0.23 - - - - -

P/B

28.7 15.5 27.4 29.7 26.9 17.1 9.1 6.5 - 4.5 4.0 5.1 4.5 6.7 4.5 5.7 6.9 8.2 - -

P/CF

44.5 25.6 67.7 30.8 25.2 51.1 35.1 24.6 44.5 - - - 294.7 - - 16.9 123.7 57.7 25.3 -

ROE %

49.00 40.98 58.27 63.83 58.02 25.63 20.59 22.26 19.18 14.99 16.54 15.93 14.67 28.19 42.59 36.84 -8.50 16.21 35.48 -

ROA %

19.00 15.58 19.62 15.49 19.46 13.03 11.46 12.87 - 170.00 10.43 9.81 97.72 15.47 20.20 16.53 -4.01 8.18 - -

ROCE %

42.97 31.62 38.18 35.49 37.64 19.61 15.56 18.14 17.46 192.29 - - 118.04 - - 31.09 -6.00 9.87 43.08 -

Current Ratio

1.6 1.6 1.5 1.3 1.5 2.0 2.3 2.4 - 124.0 - - 3.3 - - 1.8 1.9 2.0 - -

DSO

41.9 56.9 64.0 45.9 12.8 40.4 50.7 54.5 49.8 3.1 - - 8.4 - - - - - - -

DIO

264.4 261.6 218.2 215.7 202.1 212.9 202.3 197.4 211.9 10.9 - - 35.8 - - 175.9 314.8 94.1 - -

DPO

83.2 77.5 66.8 81.6 72.4 62.0 56.5 55.6 52.8 0.4 - - 18.0 - - 54.4 64.2 18.2 - -

Operating Cycle

306.3 318.5 282.2 261.6 215.0 253.4 253.0 251.9 261.8 14.0 - - 44.3 - - 175.9 314.8 94.1 - -

Cash Conversion Cycle

223.1 241.0 215.4 180.0 142.5 191.3 196.4 196.4 208.9 13.6 - - 26.3 - - 121.5 250.7 75.8 - -

All numbers in EUR currency

Quarterly Financial Ratios ASML Holding N.V.

2025-Q4 2024-Q4 2023-Q4 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2009-Q4 2008-Q4 2007-Q4 2006-Q4

EPS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2.35 -0.35 0.75 1.45 -

EBITDA per Share

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3.22 -0.05 0.95 2.04 -

ROE %

44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 44.54 80.03 -8.50 16.21 35.48 -

ROA %

20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 20.71 16.53 -4.01 8.18 - -

ROCE %

34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 34.96 78.04 -6.00 9.87 43.08 -

Current Ratio

1.6 1.6 1.5 1.3 - - - 1.5 - - - 2.0 - - - 2.2 - - - 2.4 - - - 2.5 - - - 2.3 - - - 2.7 - - - 2.6 - - - 2.5 - - - 2.2 - - - 1.9 - - - 1.8 1.9 2.0 - -

DIO

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 44.0 78.7 23.5 - -

DPO

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 13.6 16.0 4.6 - -

All numbers in EUR currency

Multiples are an important financial analysis tool for the company ASML Holding N.V., allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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