ASML - Public Comps and Valuation Multiples

ASML Overview

About ASML

ASML is the market leader in lithography systems for manufacturing semiconductors. Lithography is the process in which a light source is used to expose circuit patterns from a photo mask onto a semiconductor wafer. Lithography allows chipmakers to increase the number of transistors on the same area of silicon, with lithography historically representing a high portion of the cost of making cutting-edge chips. ASML outsources the manufacturing of most of its parts, acting like an assembler. ASML’s largest clients are TSMC, Samsung, and Intel.

Founded

1994

HQ

Employees

44.0K+

Website

asml.com

Sectors

Semiconductors
Electronic Equipment
DeepTech

Financials

LTM Revenue $37.0B

LTM EBITDA $13.9B

EV

$391B

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ASML Financials

As of October 2025, ASML reported last 12-month revenue of $37.0B and EBITDA of $13.9B.

In the same period, ASML generated $19.4B in LTM gross profit and $10.8B in net income.

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ASML P&L

In the most recent fiscal year, ASML reported revenue of $32.7B and EBITDA of $11.7B.

ASML expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$37.0B	XXX	$32.7B	XXX	XXX	XXX
Gross Profit	$19.4B	XXX	$16.8B	XXX	XXX	XXX
Gross Margin	53%	XXX	51%	XXX	XXX	XXX
EBITDA	$13.9B	XXX	$11.7B	XXX	XXX	XXX
EBITDA Margin	37%	XXX	36%	XXX	XXX	XXX
EBIT	$12.7B	XXX	$10.4B	XXX	XXX	XXX
EBIT Margin	34%	XXX	32%	XXX	XXX	XXX
Net Profit	$10.8B	XXX	$8.8B	XXX	XXX	XXX
Net Margin	29%	XXX	27%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for ASML including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $37.0B. EBITDA for the last twelve months was $13.9B. In the most recent fiscal year, ASML achieved $32.7B in revenue and $11.7B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$37.0B	Analyst estimates available to subscribers	$32.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$19.4B	Analyst estimates available to subscribers	$16.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	52.5% gross margin	Analyst estimates available to subscribers	51.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$13.9B	Analyst estimates available to subscribers	$11.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	37.5% EBITDA margin	Analyst estimates available to subscribers	35.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$12.7B	Analyst estimates available to subscribers	$10.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	34.3% EBIT margin	Analyst estimates available to subscribers	31.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$10.8B	Analyst estimates available to subscribers	$8.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	29.2% net profit margin	Analyst estimates available to subscribers	26.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for ASML

This financial data table provides comprehensive performance metrics for ASML, a company based in Netherlands. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

ASML generated $37.0B in revenue over the last twelve months.
The company achieved $13.9B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $19.4B.
Net income over the last twelve months reached $10.8B.

Fiscal Year Performance

In the most recent fiscal year, ASML reported $32.7B in total revenue.
Fiscal year EBITDA was $11.7B.
The company maintained a gross profit margin of 51.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 35.8%.
Net profit margin reached 26.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for ASML. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

ASML Stock Performance

ASML has current market cap of EUR 340B (or $394B), and EV of EUR 338B (or $391B).

Market Cap Evolution

ASML Stock Data

As of November 19, 2025, ASML's stock price is EUR 876 (or $1014).

See ASML trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$391B	$394B	XXX	XXX	XXX	XXX	$27.90

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ASML Valuation Multiples

ASML's trades at 12.0x EV/Revenue multiple, and 33.4x EV/EBITDA.

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ASML Financial Valuation Multiples

As of November 19, 2025, ASML has market cap of $394B and EV of $391B.

Equity research analysts estimate ASML's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

ASML has a P/E ratio of 36.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$394B	XXX	$394B	XXX	XXX	XXX
EV (current)	$391B	XXX	$391B	XXX	XXX	XXX
EV/Revenue	10.6x	XXX	12.0x	XXX	XXX	XXX
EV/EBITDA	28.2x	XXX	33.4x	XXX	XXX	XXX
EV/EBIT	30.8x	XXX	37.4x	XXX	XXX	XXX
EV/Gross Profit	20.1x	XXX	n/a	XXX	XXX	XXX
P/E	36.4x	XXX	44.9x	XXX	XXX	XXX
EV/FCF	71.1x	XXX	37.2x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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ASML Margins & Growth Rates

ASML's last 12 month revenue growth is 6%

ASML's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.1M for the same period.

ASML's rule of 40 is 42% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ASML's rule of X is 52% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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ASML Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	6%	XXX	10%	XXX	XXX	XXX
EBITDA Margin	37%	XXX	36%	XXX	XXX	XXX
EBITDA Growth	6%	XXX	11%	XXX	XXX	XXX
Rule of 40	42%	XXX	42%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	52%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	15%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	19%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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