ASML Holding N.V. (ASML34) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of ASML Holding N.V. BRL 137, price BRL 176, upside -22.3%, quality 80 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range R$35.99 – R$187.93 · fair‑value band R$76.90 – R$173.98 · the R$176.09 price screens above the R$136.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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ASML Holding N.V. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems. The company offers lithography, metrology, and inspection systems.
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ASML Holding N.V. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems. The company offers lithography, metrology, and inspection systems. It also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography systems solutions to manufacture various range of semiconductor nodes and technologies. In addition, the company offers metrology and inspection systems, including YieldStar optical metrology systems, a diffraction-based wafer metrology platform to assess the quality of patterns on the wafers; and HMI electron beam solutions to locate and analyze individual chip defects. Further, it provides computational lithography solutions, and lithography systems and control software solutions; and refurbishes and upgrades lithography systems, as well as offers customer support and related services. Additionally, the company offers hardware, software, and services to chipmakers to produce the patterns of integrated circuits. It operates in Japan, South Korea, Singapore, Taiwan, China, rest of Asia, the Netherlands, rest of Europe, the Middle East, Africa, and the United States. The company was formerly known as ASM Lithography Holding N.V. and changed its name to ASML Holding N.V. in 2001. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands.
Stock analysis
ASML Holding N.V. (ASML34) currently trades at R$176.09, while our model-based Fair Value estimate is R$136.90, 22.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of R$91.61 per share, and 0 of the 26 models we run sit above the R$176.09 price.
Bear case: the Economic Profit group reads lowest at R$30.83, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$76.90 (bear) to R$173.98 (bull), the price of R$176.09 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 80/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ASML Holding N.V. reported revenue of €32.7B in FY2025 versus €18.6B in FY2021, a compound +15.1%/yr. Reported net income was €10.2B in FY2025, compounding +14.8%/yr from FY2021.
Key figures
Market cap R$3.5T (≈ $667B) · P/E ratio 63.6 · P/S ratio 19.9 · EPS (TTM) R$2.77 · Dividend yield 3.4% · Net margin 31.3% · Return on equity 52.2% · Return on assets (EBIT) 21.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 90% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −39% fair-value upside, at −22%, ASML34 screens cheaper than that median.
Fair Value models
Bear R$76.90Fair Value R$136.90Bull R$173.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+15.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.5%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+28.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.3%
Dividend (yield on the price)3.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.29% → 37%
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductor Equipment & Materials · 214 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is ASML Holding N.V. (ASML34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$136.90 versus a price of R$176.09, about −22% upside (overvalued).
What is the fair value of ASML34?
Our model-based fair value for ASML Holding N.V. is R$136.90 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$176.09.
What is the quality score of ASML34?
ASML Holding N.V. has a Quality Score of 80/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ASML Holding N.V. (ASML34)?
Our model-based price target is the fair value of R$136.90 (as of Sep 29, 2026) from 26 valuation models. Cautious scenario R$76.90, optimistic scenario R$173.98. It is a calculation from audited fundamentals, not an analyst target.
What is the ASML Holding N.V. stock forecast for 2026?
Our models put fair value at R$136.90, about −22% upside versus a price of R$176.09 (overvalued). Cautious scenario R$76.90, optimistic scenario R$173.98. The calculation is refreshed regularly with new filings.
What is the revenue of ASML Holding N.V. (ASML34)?
ASML Holding N.V. reported trailing-twelve-month revenue of about €33.7B (latest available figure, as of Sep 29, 2026).
Does ASML Holding N.V. pay a dividend?
ASML Holding N.V. currently shows a dividend yield of about 3.35% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of ASML Holding N.V. (ASML34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ASML Holding N.V. it is R$136.90 per share (as of Sep 29, 2026), against a price of R$176.09. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is ASML Holding N.V. stock overvalued or undervalued in 2026?
As of Sep 29, 2026, ASML34 trades above its calculated fair value: price R$176.09, fair value R$136.90, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ASML34?
No. The price is what the market pays today (R$176.09); the fair value is what the company's own numbers justify (R$136.90). For ASML Holding N.V. the two are R$39.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is ASML Holding N.V. worth?
The market values ASML Holding N.V. at about R$3.5T (market capitalisation, as of Sep 29, 2026). Per share that is R$176.09; our models calculate a fair value of R$136.90 per share.
What do the bullish and bearish scenarios say about ASML34?
Our models span a range for ASML Holding N.V.: cautious scenario R$76.90, base R$136.90, optimistic R$173.98 per share (as of Sep 29, 2026, price R$176.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASML34?
ASML Holding N.V. trades at a price-to-earnings ratio of 63.6 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$136.90 is built from several models across several years. Other multiples: PEG 2.6.
What is the PEG ratio of ASML34?
The PEG ratio of ASML Holding N.V. is 2.56 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of ASML Holding N.V. (ASML34)?
Balance-sheet figures for ASML Holding N.V. (as of Sep 29, 2026): return on equity 52.2%, debt of 0.14 per unit of equity. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is ASML34 from its 52-week high?
ASML Holding N.V. trades at R$176.09, about 6% below its 52-week high of R$187.93 and 90% above the low of R$92.71 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$136.90 is for.
Which stocks are comparable to ASML Holding N.V.?
From the same area (Technology) we also value Lam Research Corporation, Applied Materials, Inc, KLA Corporation, Teradyne, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ASML Holding N.V. stock attractive at the current price?
The data as of Sep 29, 2026: price R$176.09, calculated fair value R$136.90 (−22%), Quality Score 80/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ASML34 calculated?
We run ASML Holding N.V. through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$136.90, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. ASML Holding N.V. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ASML Holding N.V. (ASML34)?
The closing price on Oct 2, 2026 was R$176.09. Our model-based fair value is R$136.90, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ASML Holding N.V. right now?
A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. A fairly wide model range (R$76.90 to R$173.98) leaves room in how you read the outcome.
Key figures of ASML Holding N.V.
How large is the market capitalisation of ASML Holding N.V. (ASML34)?
The market capitalisation of ASML Holding N.V. is R$3.5T (≈ $667B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ASML Holding N.V. (ASML34)?
The price-to-sales ratio of ASML Holding N.V. is 19.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ASML Holding N.V. (ASML34)?
Earnings per share at ASML Holding N.V. are R$2.77 (price ÷ EPS = P/E 63.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ASML Holding N.V. (ASML34)?
The dividend yield of ASML Holding N.V. is 3.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ASML Holding N.V. (ASML34)?
The net margin of ASML Holding N.V. is 31.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ASML Holding N.V. (ASML34)?
The return on equity (ROE) of ASML Holding N.V. is 52.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ASML Holding N.V. (ASML34)?
On an EBIT basis the return on assets of ASML Holding N.V. is 21.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ASML Holding N.V. (ASML34)?
The operating margin of ASML Holding N.V. is 36.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ASML Holding N.V. (ASML34)?
Revenue at ASML Holding N.V. is growing +13.2% versus a year earlier (3y avg +15.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ASML Holding N.V. (ASML34)?
Earnings per share at ASML Holding N.V. are growing +19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ASML Holding N.V. (ASML34) generate?
The free cash flow of ASML Holding N.V. is €11.0B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Sep 29, 2026