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ASML Holding NV
XBER:ASME

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ASML Holding NV
XBER:ASME
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Price: 908.1 EUR Market Closed
Market Cap: €357.1B

P/FCFE

44.4
Current
17%
More Expensive
vs 3-y average of 37.9

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
44.4
=
Market Cap
€471.2B
/
Free Cash Flow to Equity
€10.6B

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
44.4
=
Market Cap
€471.2B
/
Free Cash Flow to Equity
€10.6B

Valuation Scenarios

ASML Holding NV is trading above its 3-year average

If P/FCFE returns to its 3-Year Average (37.9), the stock would be worth €776.65 (14% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-63%
Maximum Upside
+12%
Average Downside
21%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 44.4 €908.1
0%
3-Year Average 37.9 €776.65
-14%
5-Year Average 37 €756.83
-17%
Industry Average 49.7 €1 017.22
+12%
Country Average 16.4 €335
-63%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
Market Cap P/FCFE P/E
NL
ASML Holding NV
XBER:ASME
471.1B EUR 44.4 46.1
US
Lam Research Corp
NASDAQ:LRCX
321B USD 61.2 47.9
US
Applied Materials Inc
NASDAQ:AMAT
308.8B USD 49.2 39.4
US
KLA Corp
NASDAQ:KLAC
226.4B USD 54.7 49.7
US
Brooks Automation Inc
LSE:0HQ1
210.4B USD 7 025.7 -3 636.7
JP
Tokyo Electron Ltd
TSE:8035
21.6T JPY 67.4 37.6
JP
Advantest Corp
TSE:6857
20.2T JPY 68.6 70
CN
NAURA Technology Group Co Ltd
SZSE:002371
389.1B CNY 55.4 70.5
US
Teradyne Inc
NASDAQ:TER
53.9B USD 83.2 97.3
JP
Disco Corp
TSE:6146
7.8T JPY 79.7 57.8
NL
ASM International NV
AEX:ASM
40.6B EUR 151.1 41

Market Distribution

In line with most companies in Netherlands
Percentile
70th
Based on 402 companies
70th percentile
33
Low
1.8 — 11.7
Typical Range
11.7 — 33.6
High
33.6 —
Distribution Statistics
Netherlands
Min 1.8
30th Percentile 11.7
Median 16.4
70th Percentile 33.6
Max 11 481.8

ASML Holding NV
Glance View

In the intricate and high-stakes world of semiconductor manufacturing, ASML Holding NV stands as a pivotal player, commanding both respect and influence. Originating from the Netherlands, ASML has positioned itself as a critical cog in the machinery of the digital age. With its unmatched ability to design and manufacture advanced lithography machines, ASML ensures the continuous shrinkage of microchips—a paramount necessity as the demand for faster, more efficient, and compact devices surges globally. The company’s bread and butter are its state-of-the-art Extreme Ultraviolet (EUV) lithography systems, which employ a complex interplay of light and lenses to etch extremely fine patterns onto silicon wafers. This technology is central to fabricating the most advanced semiconductors, found at the heart of every contemporary technology, from smartphones to supercomputers. ASML’s business model thrives on the integration of cutting-edge innovation and strategic partnerships. By collaborating closely with major chipmakers like Intel, Samsung, and TSMC, ASML ensures its technology not only meets but anticipates industry needs. The company generates revenue through the sale of these sophisticated machines, each potentially priced at over $100 million, complemented by lucrative long-term service agreements. In addition to selling new systems, ASML capitalizes on servicing and upgrading approximately 7,000 lithography machines operating worldwide. This approach provides a stable and continuous revenue stream, cementing ASML’s role as a linchpin in the semiconductor supply chain. Through relentless innovation and strategic maneuvers, ASML not only adapts to but shapes the future of technology.

ASME Intrinsic Value
511.65 EUR
Overvaluation 44%
Intrinsic Value
Price €908.1
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