Question 1

What is ASML's P/FCF ratio?

Accepted Answer

ASML (ASML) P/FCF ratio is 63.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for ASML?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For ASML specifically, the relevant sector benchmark is the current sector median of 21.6×.

Question 5

Is ASML's P/FCF ratio high or low?

Accepted Answer

ASML's P/FCF ratio of 63.5× is above its own 5-year average of 49.1× and above the sector median of 21.6×. That places the current reading at the 78th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, ASML (ASML) P/FCF ratio has ranged from a low of 5.3× in 2011 to a high of 329.4× in 2013. The 5-year average is 49.1× and the 5-year median is 32.6×.

Question 7

What was ASML's P/FCF ratio in 2025?

Accepted Answer

ASML (ASML) P/FCF ratio at the end of 2025 was 33.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does ASML's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$413.37B	$12.53B	33.0×	+6.2×	Dec 31, 2025
2024	$272.58B	$10.17B	26.8×	-53.9×	Dec 31, 2024
2023	$281.63B	$3.49B	80.7×	+51.3×	Dec 31, 2023
2022	$215.60B	$7.32B	29.5×	+2.4×	Dec 31, 2022
2021	$322.22B	$11.89B	27.1×	-23.5×	Dec 31, 2021
2020	$203.52B	$4.02B	50.6×	+4.4×	Dec 31, 2020
2019	$124.41B	$2.69B	46.2×	+24.2×	Dec 31, 2019
2018	$65.57B	$2.97B	22.0×	-21.7×	Dec 31, 2018
2017	$76.14B	$1.74B	43.7×	+12.5×	Dec 31, 2017
2016	$47.86B	$1.53B	31.2×	+10.4×	Dec 31, 2016
2015	$38.08B	$1.83B	20.9×	-32.7×	Dec 31, 2015
2014	$46.64B	$870.02M	53.6×	+16.6×	Dec 31, 2014
2013	$41.48B	$1.12B	37.0×	-6.8×	Dec 31, 2013
2012	$29.11B	$663.89M	43.9×	+36.8×	Dec 31, 2012
2011	$17.37B	$2.46B	7.0×	-8.7×	Dec 31, 2011
2010	$16.74B	$1.06B	15.7×	—	Dec 31, 2010
2009	$14.80B	−$16.44M	—	—	Dec 31, 2009
2008	$7.79B	$73.10M	106.6×	+87.0×	Dec 31, 2008
2007	$13.50B	$690.67M	19.6×	-5.0×	Dec 31, 2007
2006	$13.13B	$535.19M	24.5×	+10.6×	Dec 31, 2006
2005	$10.95B	$788.43M	13.9×	-26.9×	Dec 31, 2005
2004	$8.65B	$212.07M	40.8×	+19.4×	Dec 31, 2004
2003	$10.89B	$509.62M	21.4×	—	Dec 31, 2003
2002	$4.54B	—	—	—	Dec 31, 2002
2001	$9.06B	—	—	—	Dec 31, 2001


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Lyft (LYFT)	4.5×

P/FCF Ratio for ASML (ASML)

P/FCF Ratio daily chart for ASML (ASML)

Historical P/FCF Ratio for ASML (ASML) from 2001 to 2025

About P/FCF Ratio at ASML (ASML)

ASML P/FCF Ratio by Year

ASML P/FCF Ratio 2025: 33.0×

ASML P/FCF Ratio 2024: 26.8×

ASML P/FCF Ratio 2023: 80.7×

ASML P/FCF Ratio 2022: 29.5×

ASML P/FCF Ratio 2021: 27.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

ASML (ASML) Key Financials

P/FCF Ratio daily chart for ASML (ASML)

Historical P/FCF Ratio for ASML (ASML) from 2001 to 2025

About P/FCF Ratio at ASML (ASML)

ASML P/FCF Ratio by Year

ASML P/FCF Ratio 2025: 33.0×

ASML P/FCF Ratio 2024: 26.8×

ASML P/FCF Ratio 2023: 80.7×

ASML P/FCF Ratio 2022: 29.5×

ASML P/FCF Ratio 2021: 27.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is ASML's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for ASML?

+Is ASML's P/FCF ratio high or low?

+What is ASML's historical P/FCF ratio range?

+What was ASML's P/FCF ratio in 2025?

+Why does ASML's P/FCF ratio change over time?

ASML (ASML) Key Financials