ASML
ASML Holding N.V.

ASML Holding N.V.ASML

Technology · Semiconductor Equipment & Materials
1747.90USD
+2.14%
Sep 23, 2026
ASML overview ready
Critical Supplier of Lithography Equipment Enabling Advanced Chip Manufacturing
ASML is the critical lithography-equipment supplier to advanced logic and memory fabs; its systems are a production bottleneck for many leading-edge process transitions.
Strong narrative exposure
Exposed to the AI Compute Infrastructure Buildout narrative through Leading-Edge Semiconductor Fabrication Equipment — bottleneck supplier.
An early price trend
Longer-term context reads mature trend, with a near-term setup of daily advance.
Demanding valuation
ASML Holding N.V.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
Dependence on semiconductor industry capital expenditure cycles.
Market Sep 22Price action Sep 22Research Aug 28

Conviction Level

NarrativeHeat9.5ThemeHeat8.3PriceAction7.1Valuation0.3CompanyPosition9.3
Price
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Price Action

An early price trend
Longer-term context reads mature trend, with a near-term setup of daily advance.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$647.5B
Avg Volume (60D)
1.4M
60 sessions
Revenue Growth YoY
+17.9%
Trailing twelve months
Gross Margin
+52.7%
Trailing twelve months
Operating Margin
+35.4%
Trailing twelve months
Distance from 200DMA
+15.6%
Next Earnings
2026-10-14
P/E
52.3x
EV / Sales
15.6x
Market metrics as of Sep 22, 2026

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
ASML Holding N.V. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at 15.6x revenue, which requires sustained delivery to be justified.

Company Research

Thesis
ASML is the critical lithography-equipment supplier to advanced logic and memory fabs; its systems are a production bottleneck for many leading-edge process transitions.
Opportunity
Moderate opportunity
AI-driven demand for leading-edge logic and advanced memory is increasing fab capital expenditure and process-complexity spending on the specialized equipment required to manufacture advanced chips.
Key risk
Dependence on semiconductor industry capital expenditure cycles.

Narrative & Theme

AI Compute Infrastructure Buildout
Part of Leading-Edge Semiconductor Fabrication Equipment, with strong fit.
ASML has a direct, high-conviction exposure to the AI compute buildout through chipmakers' spending on advanced-node logic and AI-related memory capacity and technology migrations. Neither active theme represents front-end lithography/fab-equipment spending.
Narrative HeatHot9.5 / 10
Theme HeatHeating up8.3 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Semiconductor Equipment & Materials
What they do

ASML Holding N.V. Designs, manufactures, and services advanced lithography systems used in semiconductor manufacturing, enabling chipmakers to produce increasingly smaller and more complex semiconductor nodes.

How it earns

The company generates revenue primarily through the sale of lithography equipment and related servicing and upgrade contracts.

Products & services
Extreme ultraviolet (EUV) lithography systems
Deep ultraviolet (DUV) lithography systems
Metrology and inspection systems
Customers & end markets
Semiconductor manufacturers
Integrated device manufacturers
Market position

Market leader in lithography systems, particularly in EUV technology, with a dominant position in semiconductor equipment.

Demand drivers
High cyclicality

Semiconductor equipment demand is closely tied to the cyclical semiconductor industry and capital expenditure cycles of chipmakers.

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