Stock fact sheet · data as of
ASML Holding N.V. (ASML): fair value, margin of safety and Wheel Score
Ticker symbol ASML · Technology · Semiconductors · Netherlands · ADR · Growth Quality
ASML is an American depositary share (ADR): the US listing of ASML Holding N.V., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is ASML undervalued?
At 1,496.30 (close of 5 Nov 2026), ASML trades 26% over the GLS average fair value of 1,187.25. 3 of the 9 models land above the price and 6 below. A negative margin of safety fails the "below fair value" Wheel Trade Filter - the models see no discount, which does not make the business a poor one, only the price a full one.
There is a wide gap between DDM (134.81) and Payback Time (2,484.14). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, ASML is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 13, growth score 79, out of 100). It also carries the Quality tag (Quality = moat 7.5+ out of 10 and Piotroski 7+).
Nine valuation models for ASML
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 320.46 | -79% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 225.27 | -85% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 2,250.52 | +50% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 983.62 | -34% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2,408.69 | +61% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 1,440.54 | -4% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 2,484.14 | +66% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 134.81 | -91% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 437.16 | -71% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -0.9888 | -100% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 2,330.75 | +56% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
ASML Holding N.V. scores 9 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 8.8/10 puts ASML among the more durable businesses we track: over up to ten years its returns on capital have stayed high, its margins steady and its balance sheet sound.
Returns on capital are high - ROIC 40.0%, ROE 49.0%, ROA 19.0% - with debt at 0.22 times equity and a free-cash-flow yield of 4.1%.
The dividend yield is 0.61% with a payout ratio of 22% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from NXE 32%, ArF immersion 32%, Net service and field option sales 25% (fiscal year FY2025).
Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 4/10 on the GLS smart-money scales; the last recorded Congressional buy was on 7 Aug 2026.
| Piotroski F-score | 9 / 9 | ROIC | 40.0% |
|---|---|---|---|
| GLS Moat | 8.8 / 10 | ROE | 49.0% |
| Debt / equity | 0.22 | ROA | 19.0% |
| Free-cash-flow yield | 4.1% | Payout ratio | 22% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 4 / 10 |
Wheel Score 53: Fair
A Wheel Score of 53 keeps ASML Holding N.V. under 70, the mark only a stock that passes all 9 Wheel Trade Filters can reach: it fails filter 3, below fair value - trades 26% above our fair value. The parts: value weak, premium strong, moat strong, health strong, red flags strong, option trading strong, stability strong.
Implied volatility is 49% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. The option chain is deep: 92,969 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 2.0M shares a day on a market cap of $576.7B, with a beta of 1.32 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 26% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 26% above fair value | |
| Premium | Strong | implied volatility 49% | |
| Moat | Strong | moat 8.8/10 | |
| Health | Strong | Piotroski 9/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Strong | 17,227 contracts a day, 92,969 open interest | |
| Stability | Strong | beta 1.32, $576.7B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 27 Jan 2027, 83 days away - outside the window of a 30-45-day put sold today.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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The 12 companies below are the closest to ASML Holding N.V. by market cap within the Semiconductors industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about ASML
Is ASML undervalued right now?
No: at 1,496.30 the stock trades 26% above the GLS average fair value of 1,187.25 (data as of 5 Nov 2026). The margin of safety is negative.
What is the Wheel Score of ASML and what does it mean?
ASML scores 53 out of 100 (Fair) - it fails Wheel Trade Filter 3. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for ASML?
1,187.25 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does ASML Holding N.V. report earnings next?
The next earnings report is due on 27 Jan 2027, 83 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does ASML have listed options, and how liquid are they?
Yes. The nightly snapshot found 2,234 listed contracts with 92,969 open interest across all expiries and implied volatility of 49% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is ASML an ADR?
Yes. ASML is an American depositary share (ADR): the US listing of ASML Holding N.V., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.