Question 1

What is ASML's P/B ratio?

Accepted Answer

ASML (ASML) P/B ratio is 27.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for ASML?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For ASML specifically, the relevant sector benchmark is the current sector median of 5.6×.

Question 5

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

Accepted Answer

ASML's P/B ratio of 27.8× is above its own 5-year average of 21.6× and above the sector median of 5.6×. 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 P/B ratio range?

Accepted Answer

In the available daily series, ASML (ASML) P/B ratio has ranged from a low of 2.5× in 2008 to a high of 31.9× in 2026. The 5-year average is 21.6× and the 5-year median is 22.3×.

Question 7

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

Accepted Answer

ASML (ASML) P/B ratio at the end of 2025 was 18.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$23B	18.0×	+3.7×	Dec 31, 2025
2024	$273B	$19.1B	14.2×	-4.6×	Dec 31, 2024
2023	$282B	$14.9B	18.9×	-4.2×	Dec 31, 2023
2022	$216B	$9.35B	23.1×	-4.8×	Dec 31, 2022
2021	$322B	$11.6B	27.8×	+15.8×	Dec 31, 2021
2020	$204B	$16.9B	12.0×	+3.1×	Dec 31, 2020
2019	$124B	$14B	8.9×	+4.0×	Dec 31, 2019
2018	$65.6B	$13.3B	4.9×	-0.9×	Dec 31, 2018
2017	$76.1B	$13.1B	5.8×	+1.2×	Dec 31, 2017
2016	$47.9B	$10.4B	4.6×	+0.4×	Dec 31, 2016
2015	$38.1B	$9.11B	4.2×	-1.0×	Dec 31, 2015
2014	$46.6B	$9.09B	5.1×	+1.1×	Dec 31, 2014
2013	$41.5B	$10.4B	4.0×	-1.4×	Dec 31, 2013
2012	$29.1B	$5.36B	5.4×	+1.5×	Dec 31, 2012
2011	$17.4B	$4.46B	3.9×	-0.6×	Dec 31, 2011
2010	$16.7B	$3.71B	4.5×	-1.3×	Dec 31, 2010
2009	$14.8B	$2.54B	5.8×	+3.0×	Dec 31, 2009
2008	$7.79B	$2.78B	2.8×	-2.0×	Dec 31, 2008
2007	$13.5B	$2.79B	4.8×	+0.2×	Dec 31, 2007
2006	$13.1B	$2.85B	4.6×	-0.8×	Dec 31, 2006
2005	$10.9B	$2.03B	5.4×	+0.8×	Dec 31, 2005
2004	$8.65B	$1.88B	4.6×	-3.0×	Dec 31, 2004
2003	$10.9B	$1.43B	7.6×	+4.3×	Dec 31, 2003
2002	$4.54B	$1.38B	3.3×	—	Dec 31, 2002


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P/B Ratio for ASML (ASML) 2002-2026

P/B Ratio daily chart for ASML (ASML)

Historical P/B Ratio for ASML (ASML) from 2002 to 2025

About P/B Ratio at ASML (ASML)

ASML P/B Ratio by Year

ASML P/B Ratio 2025: 18.0×

ASML P/B Ratio 2024: 14.2×

ASML P/B Ratio 2023: 18.9×

ASML P/B Ratio 2022: 23.1×

ASML P/B Ratio 2021: 27.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

ASML (ASML) Key Financials