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STOCK COMPARISON

ASML Holding vs Advantest Corp DRC: Fair Value & Quality

Both stocks run through our valuation models. Here is how ASML Holding (ASML) and Advantest Corp DRC (ATEYY) compare, as of Sep 30, 2026.

As of Sep 30, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: ASML Holding trades at €1,601 versus a fair value of €1,350 (−15.7%), while Advantest Corp DRC trades at $222 versus $172 (−22.3%).
ASML Holding
ASML.AS · EUR · Information Technology
−15.7%
upside to fair value
overvalued
Price€1,601
Fair Value€1,350
Quality82/100
Advantest Corp DRC
ATEYY · USD · Information Technology
−22.3%
upside to fair value
overvalued
Price$222
Fair Value$172
Quality88/100
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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

ASML HoldingAdvantest Corp DRC
Valuation
62.9×P/E (TTM)69.4×
31.0×Forward P/E (FY2027)n/a
35.5×Median P/E at FY-end (10 FY, ex one-offs where documented)n/a
17.48×P/S (TTM)20.53×
31.49×P/B31.66×
45.0×EV/EBITDA42.8×
1.57×PEG1.54×
−15.7%Fair value upside−22.3%
0.4%Dividend yield0.2%
€6.56Dividend per share$59.00
Profitability
37.1%Operating margin51.7%
1.19×EBIT margin trend (5Y)1.95×
53.9%Return on equity56.9%
16.5%Return on assets29.3%
Growth
21.3%Revenue growth (YoY)39.3%
15.6%Avg. growth/yr (3Y)28.8%
18.5%Avg. growth/yr (5Y)30.8%
+24.3%Value creation/yr+40.7%
Balance & size
95.5×Interest coverage (EBIT/interest)180.3×
0.14×Debt / equityn/a
$700BMarket cap$162B
healthyGrowth qualityhealthy
ASML Holding, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 35.5.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Advantest Corp DRC leads: 5 to 9 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.

ASML Holdingof which business quality 79 · market factors 70 Advantest Corp DRCof which business quality 86 · market factors 70
ProfitabilityMargins and returns on capital today
81
95
Quality GrowthAre margins and returns improving?
77
100
CashflowEarnings quality: real cash, not paper profit
86
79
Fin. StrengthBalance sheet, leverage, solvency risk
85
99
InvestmentDisciplined investing over empire-building
42
32
Low VolatilityCalm price path (market factor)
36
24
MomentumPrice trend over the last 3–12 months (market factor)
78
86
52W MomentumDistance to the 52-week high (market factor)
94
94
Net IssuanceShare count: buybacks or dilution?
89
94

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 familyASML HoldingPrice €1,601Advantest Corp DRCPrice $222
DCF Models−48.6%below the price€824−47.8%below the price$116
Earnings-Based−75.5%below the price€393−44.8%below the price$123
Dividend Discount−92.1%below the price€127−97.4%below the price$5.87
Multiples−67.8%below the price€515−67.5%below the price$72.17
Asset-Based−97.9%below the price€34.21−97.9%below the price$4.71
Growth DCF−52.5%below the price€761−59.1%below the price$90.88
Economic Profit−80.6%below the price€310−78.0%below the price$48.86
Growth Earnings−57.9%below the price€675−20.2%below the price$177
Minimum−97.9%below the price€34.21−97.9%below the price$4.71
Maximum−48.6%below the price€824−20.2%below the price$177
Median−71.7%below the price€454−63.3%below the price$81.53
Geometric mean−79.9%below the price€322−79.0%below the price$46.61

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%.

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

Advantest Corp DRC: 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.

ASML Holding
Price €1,601
Fair Value €1,350
Bear €856Bull €1,755
Advantest Corp DRC
Price $222
Fair Value $172
Bear $89.38Bull $281

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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.

ASML Holding · Information Technology

Quality score82 · Top 25%
Fair value upside−15.7% · above median

Advantest Corp DRC · Information Technology

Quality score88 · Top 25%
Fair value upside−22.3% · below median

Bottom line

As of Sep 30, 2026, Fair Value Calculator sees ASML Holding as the less overvalued of the two: ASML Holding trades at €1,601 versus a fair value of €1,350 (−15.7%), while Advantest Corp DRC trades at $222 versus $172 (−22.3%).

Advantest Corp DRC has the higher quality score (88/100).

Open ASML Holding live analysis →

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