Financials ASML Holding N.V. Thailand S.E.

Equities

ASML01

TH0809120601

Semiconductor Equipment & Testing

End-of-day quote Thailand S.E. Other stock markets 06:00:00 2024-05-30 pm EDT			5-day change	1st Jan Change
29.25 ^THB	-.--%		+0.86%	+34.17%

May. 29	Europe's business chiefs see EU-China relations worsening	RE
May. 28	Social Buzz: Wallstreetbets Stocks Advance Premarket Tuesday; Dell Technologies, CAVA Group to Open Higher	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	110,671	163,263	287,256	200,985	268,992	342,249	-	-
Enterprise Value (EV) ¹	109,061	160,574	283,740	197,123	266,613	338,363	337,273	332,630
P/E ratio	42.9 x	46.9 x	49.3 x	35.7 x	34.3 x	45.7 x	28.8 x	25 x
Yield	0.91%	0.69%	0.78%	1.15%	0.89%	0.77%	1.01%	1.13%
Capitalization / Revenue	9.36 x	11.7 x	15.4 x	9.49 x	9.76 x	12.4 x	9.45 x	8.67 x
EV / Revenue	9.23 x	11.5 x	15.2 x	9.31 x	9.67 x	12.2 x	9.32 x	8.43 x
EV / EBITDA	33.7 x	35.4 x	40.5 x	27.8 x	27.3 x	35.6 x	22.9 x	20.1 x
EV / FCF	43.5 x	43.8 x	28.5 x	27.4 x	81.1 x	68.2 x	36.4 x	28.1 x
FCF Yield	2.3%	2.28%	3.51%	3.66%	1.23%	1.47%	2.75%	3.56%
Price to Book	8.81 x	12 x	28.6 x	22.7 x	20 x	22 x	17.2 x	13.1 x
Nbr of stocks (in thousands)	419,686	410,673	406,474	398,937	394,590	393,028	-	-
Reference price ²	263.7	397.6	706.7	503.8	681.7	870.8	870.8	870.8
Announcement Date	1/22/20	1/20/21	1/19/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,820	13,978	18,611	21,173	27,558	27,683	36,207	39,464
EBITDA ¹	3,239	4,542	7,007	7,084	9,782	9,495	14,745	16,530
EBIT ¹	2,791	4,052	6,536	6,501	9,042	8,671	13,624	15,374
Operating Margin	23.61%	28.98%	35.12%	30.7%	32.81%	31.32%	37.63%	38.96%
Earnings before Tax (EBT) ¹	2,766	4,017	6,706	6,456	9,084	8,702	13,870	15,736
Net income ¹	2,592	3,554	5,883	5,624	7,839	7,445	11,522	13,186
Net margin	21.93%	25.42%	31.61%	26.56%	28.44%	26.89%	31.82%	33.41%
EPS ²	6.150	8.480	14.34	14.13	19.89	19.05	30.22	34.81
Free Cash Flow ¹	2,510	3,666	9,945	7,205	3,288	4,960	9,265	11,843
FCF margin	21.23%	26.22%	53.44%	34.03%	11.93%	17.92%	25.59%	30.01%
FCF Conversion (EBITDA)	77.48%	80.7%	141.92%	101.7%	33.61%	52.24%	62.84%	71.65%
FCF Conversion (Net income)	96.82%	103.15%	169.05%	128.11%	41.94%	66.62%	80.41%	89.82%
Dividend per Share ²	2.400	2.750	5.500	5.800	6.100	6.742	8.821	9.880
Announcement Date	1/22/20	1/20/21	1/19/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2
Net sales ¹	4,986	3,534	5,431	5,778	6,430	6,746	6,902	13,648	6,673	7,237	13,910	5,290	6,019	10,602	7,652	8,676	16,969	8,165	8,643
EBITDA ¹	1,942	915.6	1,785	2,076	2,307	2,375	2,444	-	2,359	2,604	-	1,606	1,875	-	2,767	3,264	-	3,168	3,277
EBIT ¹	1,818	784.6	1,653	1,938	2,124	2,205	2,263	-	2,182	2,392	-	1,391	1,704	-	2,529	3,015	-	2,899	3,157
Operating Margin	36.45%	22.2%	30.44%	33.55%	33.03%	32.69%	32.79%	-	32.7%	33.05%	-	26.3%	28.31%	-	33.04%	34.75%	-	35.51%	36.52%
Earnings before Tax (EBT) ¹	2,019	769	1,643	1,923	2,121	2,217	2,280	-	2,190	2,397	-	1,418	1,686	-	2,537	3,006	-	2,886	3,185
Net income ¹	1,774	695	1,411	1,702	1,816	1,956	1,942	-	1,893	2,048	-	1,224	1,434	-	2,153	2,558	-	2,448	2,687
Net margin	35.58%	19.67%	25.98%	29.45%	28.25%	28.99%	28.13%	-	28.37%	28.3%	-	23.13%	23.83%	-	28.13%	29.48%	-	29.98%	31.09%
EPS ²	4.380	1.730	3.540	4.290	4.600	4.950	4.930	-	4.810	5.200	10.00	3.110	3.671	5.330	5.582	6.525	13.54	6.337	6.936
Dividend per Share ²	3.700	-	3.700	1.370	1.690	1.370	1.690	-	-	1.750	-	-	1.754	-	1.671	1.542	-	1.958	1.787
Announcement Date	1/19/22	4/20/22	7/20/22	10/19/22	1/25/23	4/19/23	7/19/23	7/19/23	10/18/23	1/24/24	1/24/24	4/17/24	-	-	-	-	-	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,610	2,689	3,515	3,862	2,379	3,886	4,975	9,618
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	2,510	3,666	9,945	7,205	3,288	4,960	9,265	11,843
ROE (net income / shareholders' equity)	21.4%	26.9%	49%	59.4%	70.4%	50.2%	67.1%	57.6%
ROA (Net income/ Total Assets)	12.1%	14.2%	20.5%	16.9%	20.6%	17%	23.4%	22.7%
Assets ¹	21,386	24,949	28,748	33,266	38,129	43,824	49,151	58,099
Book Value Per Share ²	29.90	33.10	24.70	22.20	34.10	39.50	50.50	66.50
Cash Flow per Share ²	7.770	11.00	26.40	13.40	13.80	17.50	32.60	37.70
Capex ¹	767	962	901	1,282	2,156	1,799	1,767	1,859
Capex / Sales	6.49%	6.88%	4.84%	6.05%	7.82%	6.5%	4.88%	4.71%
Announcement Date	1/22/20	1/20/21	1/19/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ASML Holding N.V.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

870.8 EUR

Average target price

994.9 EUR

Spread / Average Target

+14.25%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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ZHEJIANG JINGSHENG MECHANICAL & ELECTRICAL CO., LTD.	-27.22%	5.79B
ASMPT LIMITED	+25.17%	4.94B
CAMTEK LTD.	+47.61%	4.62B

Other Semiconductor Equipment & Testing