ASML Holding N.V. (ASML) Fundamental Analysis
ASML Holding N.V. is in a high-growth phase, expanding revenue 16% year-over-year as it scales. It is solidly profitable, with a latest net margin of 29%. Cash generation is healthy, funding the business from its own operations. On the latest filing the majority of indicators are constructive.
Beat Index assesses ASML Holding N.V. across sixteen analysis tabs, spanning revenue and income, margins, cash flow, returns, liquidity and leverage, working capital, intrinsic value, commitments, insider activity, risk, and its latest 20-F reads strongest on revenue growth, profit margins and cash generation while flagging balance-sheet strength for closer review. Every figure is taken as-reported from SEC EDGAR filings, with no vendor adjustments.
At a glance
- PositiveGrowth: Revenue up 16% YoY
- WatchBalance Sheet: Debt/equity 0.2x
- ConcernNo red flags in the latest quarter.
Trend matrix, last 4 quarters
| Dimension | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Growth | Revenue up 16% YoY | Revenue +3% YoY | Revenue up 30% YoY | Revenue up 14% YoY |
| Profitability | Net margin 29% | Net margin 27% | Net margin 28% | Net margin 27% |
| Cash Generation | FCF margin 34% | FCF margin 32% | FCF margin 12% | FCF margin 34% |
| Balance Sheet | Debt/equity 0.2x | Debt/equity 0.3x | Debt/equity 0.3x | Debt/equity 0.5x |
Quarterly financials
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | €32.67B | €28.26B | €27.56B | €21.17B | €18.61B |
| Cash & equivalents | €12.92B | €12.74B | €7.00B | €7.27B | €6.95B |
| Net income | €9.61B | €7.57B | €7.84B | €5.62B | €5.88B |
| Operating cash flow | €12.66B | €11.17B | €5.44B | €8.49B | €10.85B |
| Free cash flow | €11.08B | €9.10B | €3.29B | €7.21B | €9.95B |
Figures in EUR, as reported to the SEC. Longer history is available in the full analysis.
What's inside the full dashboard
Sixteen analysis tabs, all sourced from SEC filings, no estimates.
- Cash Flow: Free cash flow generation and operating cash flow trends.
- Intrinsic Value: Discounted cash flow (DCF) valuation and enterprise multiples.
- Liquidity & Leverage: Balance-sheet strength: assets, liabilities, debt and liquidity ratios.
- Margins: Gross, operating, and net profit margin analysis.
- Returns: Return on equity, return on assets, and return on invested capital.
- Revenue & Income: Revenue growth, composition, and year-over-year income trends.
- Working Capital: Working-capital efficiency, cash conversion and asset-turnover metrics.
- Risk: Debt levels, liquidity ratios, and financial risk indicators.
- Insider: Insider stock transactions and executive activity.
- Commitments: Operating leases, purchase commitments, and future obligations.
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Live valuation, management commentary, and peer comparison, all sourced directly from SEC filings. Free to access.