Question 1

What is ASML's EV/EBITDA ratio?

Accepted Answer

ASML (ASML) EV/EBITDA ratio is 42.0× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for ASML?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For ASML specifically, the relevant sector benchmark is the current sector median of 20.3×.

Question 5

Is ASML's EV/EBITDA ratio high or low?

Accepted Answer

ASML's EV/EBITDA ratio of 42.0× is above its own 5-year average of 30.2× and above the sector median of 20.3×. That places the current reading at the 92th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is ASML's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, ASML (ASML) EV/EBITDA ratio has ranged from a low of 4.1× in 2011 to a high of 474.3× in 2003. The 5-year average is 30.2× and the 5-year median is 28.5×.

Question 7

What was ASML's EV/EBITDA ratio in 2025?

Accepted Answer

ASML (ASML) EV/EBITDA ratio at the end of 2025 was 27.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does ASML's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$413B	$14.5B	27.6×	+3.8×	Dec 31, 2025
2024	$273B	$11.1B	23.8×	-1.6×	Dec 31, 2024
2023	$282B	$11B	25.4×	-2.9×	Dec 31, 2023
2022	$216B	$7.48B	28.3×	-9.6×	Dec 31, 2022
2021	$322B	$8.41B	37.9×	-0.3×	Dec 31, 2021
2020	$204B	$5.24B	38.2×	+4.3×	Dec 31, 2020
2019	$124B	$3.61B	33.9×	+17.8×	Dec 31, 2019
2018	$65.6B	$3.99B	16.1×	-7.6×	Dec 31, 2018
2017	$76.1B	$3.2B	23.7×	+1.6×	Dec 31, 2017
2016	$47.9B	$2.12B	22.1×	+4.0×	Dec 31, 2016
2015	$38.1B	$1.98B	18.0×	-5.1×	Dec 31, 2015
2014	$46.6B	$1.94B	23.1×	-0.9×	Dec 31, 2014
2013	$41.5B	$1.62B	24.0×	+8.6×	Dec 31, 2013
2012	$29.1B	$1.73B	15.4×	+9.7×	Dec 31, 2012
2011	$17.4B	$2.6B	5.7×	-2.4×	Dec 31, 2011
2010	$16.7B	$1.88B	8.0×	-266.6×	Dec 31, 2010
2009	$14.8B	$51.9M	274.6×	+263.3×	Dec 31, 2009
2008	$7.79B	$641M	11.3×	+1.9×	Dec 31, 2008
2007	$13.5B	$1.33B	9.4×	-0.0×	Dec 31, 2007
2006	$13.1B	$1.21B	9.5×	-4.1×	Dec 31, 2006
2005	$10.9B	$677M	13.5×	-0.4×	Dec 31, 2005
2004	$8.65B	$580M	14.0×	-460.3×	Dec 31, 2004
2003	$10.9B	$22.5M	474.3×	—	Dec 31, 2003
2002	$4.54B	-$446M	—	—	Dec 31, 2002


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IBM (IBM)	3.8×

EV/EBITDA for ASML (ASML) 2003-2026

EV/EBITDA daily chart for ASML (ASML)

Historical EV/EBITDA for ASML (ASML) from 2002 to 2025

About EV/EBITDA at ASML (ASML)

ASML EV/EBITDA by Year

ASML EV/EBITDA 2025: 27.6×

ASML EV/EBITDA 2024: 23.8×

ASML EV/EBITDA 2023: 25.4×

ASML EV/EBITDA 2022: 28.3×

ASML EV/EBITDA 2021: 37.9×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

ASML (ASML) Key Financials