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STOCK COMPARISON

Shenzhen Newway Photomask Making Co. Ltd. A vs ASML Holding: Fair Value & Quality

Both stocks run through our valuation models. Here is how Shenzhen Newway Photomask Making Co. Ltd. A (688401) and ASML Holding (ASML) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: Shenzhen Newway Photomask Making Co. Ltd. A trades at ¥73.17 versus a fair value of ¥33.95 (-54%), while ASML Holding trades at €1,516 versus €1,350 (-11%).
Shenzhen Newway Photomask Making Co. Ltd. A
688401.SHG · CNY · Information Technology
-54%
upside to fair value
overvalued
Price¥73.17
Fair Value¥33.95
Quality60/100
ASML Holding
ASML.AS · EUR · Information Technology
-11%
upside to fair value
overvalued
Price€1,516
Fair Value€1,350
Quality82/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Shenzhen Newway Photomask Making Co. Ltd. AASML Holding
Valuation
53.4×P/E (TTM)59.8×
11.58×P/S (TTM)18.99×
8.51×P/B34.21×
34.2×EV/EBITDA49.0×
n/aPEG2.19×
−53.6%Fair value upside−11.0%
0.5%Dividend yield0.4%
¥0.40Dividend per share€6.56
Profitability
24%Operating margin37%
0.27×EBIT margin trend (5Y)1.19×
17%Return on equity54%
7%Return on assets16%
Growth
26%Revenue growth (YoY)21%
21.8%Avg. growth/yr (3Y)15.6%
23.5%Avg. growth/yr (5Y)18.5%
+40.4%Value creation/yr+24.3%
Balance & size
13.9×Interest coverage (EBIT/interest)95.5×
0.46×Debt / equity0.14×
$2BMarket cap$671B
expensiveGrowth qualityhealthy

Shenzhen Newway Photomask Making Co. Ltd. A leads: 8 to 7 metric wins.

n/a = 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.

Shenzhen Newway Photomask Making Co. Ltd. Aof which business quality 59 · market factors 62 ASML Holdingof which business quality 79 · market factors 66
ProfitabilityMargins and returns on capital today
49
81
Quality GrowthAre margins and returns improving?
58
77
CashflowEarnings quality: real cash, not paper profit
51
86
Fin. StrengthBalance sheet, leverage, solvency risk
79
85
InvestmentDisciplined investing over empire-building
26
42
Low VolatilityCalm price path (market factor)
27
35
MomentumPrice trend over the last 3–12 months (market factor)
76
74
52W MomentumDistance to the 52-week high (market factor)
78
89
Net IssuanceShare count: buybacks or dilution?
82
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 familyShenzhen Newway Photomask Making Co. Ltd. APrice ¥73.17ASML HoldingPrice €1,516
DCF Models-51%below the price¥35.62-46%below the price€824
Earnings-Based-55%below the price¥32.78-74%below the price€393
Dividend Discount-92%below the price¥5.56-92%below the price€127
Multiples-62%below the price¥27.61-66%below the price€515
Asset-Based-93%below the price¥5.42-98%below the price€34.21
Growth DCF-73%below the price¥19.73-50%below the price€761
Economic Profit-82%below the price¥12.97-75%below the price€376
Growth Earnings-36%below the price¥46.66-55%below the price€675
Minimum-93%below the price¥5.42-98%below the price€34.21
Maximum-36%below the price¥46.66-46%below the price€824
Median-68%below the price¥23.67-70%below the price€454
Geometric mean-75%below the price¥18.11-78%below the price€330

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%.

Shenzhen Newway Photomask Making 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.

Shenzhen Newway Photomask Making Co. Ltd. A
Price ¥73.17
Fair Value ¥33.95
Bear ¥14.69Bull ¥42.94
ASML Holding
Price €1,516
Fair Value €1,350
Bear €853Bull €2,668

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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.

Shenzhen Newway Photomask Making Co. Ltd. A · Information Technology

Quality score60 · above median
Fair value upside-54% · below median

ASML Holding · Information Technology

Quality score82 · Top 25%
Fair value upside-11% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: Shenzhen Newway Photomask Making Co. Ltd. A trades at ¥73.17 versus a fair value of ¥33.95 (-54%), while ASML Holding trades at €1,516 versus €1,350 (-11%).

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

Open ASML Holding live analysis →

More comparisons

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