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STOCK COMPARISON

Hwatsing Technology Co. Ltd. A vs ASML Holding: Fair Value & Quality

Both stocks run through our valuation models. Here is how Hwatsing Technology Co. Ltd. A (688120) and ASML Holding (ASML) compare, as of Sep 14, 2026.

As of Sep 14, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: Hwatsing Technology Co. Ltd. A trades at ¥237 versus a fair value of ¥78.83 (-67%), while ASML Holding trades at €1,478 versus €1,350 (-9%).
Hwatsing Technology Co. Ltd. A
688120.SHG · CNY · Information Technology
-67%
upside to fair value
overvalued
Price¥237
Fair Value¥78.83
Quality57/100
ASML Holding
ASML.AS · EUR · Information Technology
-9%
upside to fair value
fairly valued
Price€1,478
Fair Value€1,350
Quality82/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Hwatsing Technology Co. Ltd. AASML Holding
Valuation
146.9×P/E (TTM)60.6×
32.53×P/S (TTM)19.41×
21.53×P/B34.97×
EV/EBITDA50.1×
PEG2.19×
−66.8%Fair value upside−8.7%
0.2%Dividend yield0.4%
¥0.40Dividend per share€6.56
Profitability
24%Operating margin37%
0.89×EBIT margin trend (5Y)1.19×
15%Return on equity54%
5%Return on assets16%
Growth
32%Revenue growth (YoY)21%
41.3%Avg. growth/yr (3Y)15.6%
64.5%Avg. growth/yr (5Y)18.5%
+36.6%Value creation/yr+24.3%
Balance & size
127.9×Interest coverage (EBIT/interest)95.5×
0.03×Debt / equity0.14×
$24BMarket cap$686B
mixedGrowth qualityhealthy

ASML Holding leads: 6 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Hwatsing Technology Co. Ltd. Aof which business quality 57 · market factors 75 ASML Holdingof which business quality 79 · market factors 64
ProfitabilityMargins and returns on capital today
50
81
Quality GrowthAre margins and returns improving?
66
77
CashflowEarnings quality: real cash, not paper profit
50
86
Fin. StrengthBalance sheet, leverage, solvency risk
87
85
InvestmentDisciplined investing over empire-building
37
42
Low VolatilityCalm price path (market factor)
50
35
MomentumPrice trend over the last 3–12 months (market factor)
91
69
52W MomentumDistance to the 52-week high (market factor)
77
89
Net IssuanceShare count: buybacks or dilution?
41
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyHwatsing Technology Co. Ltd. APrice ¥237ASML HoldingPrice €1,478
DCF Models-71%below the price¥68.88-44%below the price€822
Earnings-Based-68%below the price¥76.67-73%below the price€393
Dividend Discount-98%below the price¥4.93-91%below the price€127
Multiples-82%below the price¥43.69-65%below the price€515
Asset-Based-96%below the price¥10.10-98%below the price€34.21
Growth DCF-81%below the price¥44.93-49%below the price€756
Economic Profit-88%below the price¥28.70-75%below the price€376
Growth Earnings-53%below the price¥111-54%below the price€675
Minimum-98%below the price¥4.93-98%below the price€34.21
Maximum-53%below the price¥111-44%below the price€822
Median-81%below the price¥44.31-69%below the price€454
Geometric mean-86%below the price¥33.64-78%below the price€329

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Hwatsing Technology Co. Ltd. A: 26 of 26 models see the stock below the current price.

ASML Holding: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Hwatsing Technology Co. Ltd. A
Price ¥237
Fair Value ¥78.83
Bear ¥38.90Bull ¥130
ASML Holding
Price €1,478
Fair Value €1,350
Bear €849Bull €2,662

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Hwatsing Technology Co. Ltd. A · Information Technology

Quality score57 · above median
Fair value upside-67% · bottom 25%

ASML Holding · Information Technology

Quality score82 · Top 25%
Fair value upside-9% · above median

Bottom line

As of Sep 14, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: Hwatsing Technology Co. Ltd. A trades at ¥237 versus a fair value of ¥78.83 (-67%), while ASML Holding trades at €1,478 versus €1,350 (-9%).

ASML Holding has the higher quality score (82/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.