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STOCK COMPARISON

ASML Holding vs KLA: Fair Value & Quality

Both stocks run through our valuation models. Here is how ASML Holding (ASML) and KLA (KLAC) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees KLA as the less overvalued of the two: ASML Holding trades at €1,467 versus a fair value of €604 (-59%), while KLA trades at $173 versus $74.58 (-57%).
ASML Holding
ASML.AS · EUR · Information Technology
-59%
upside to fair value
overvalued
Price€1,467
Fair Value€604
Quality82/100
KLA
KLAC · USD · Information Technology
-57%
upside to fair value
overvalued
Price$173
Fair Value$74.58
Quality82/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

ASML HoldingKLA
Valuation
60.6×P/E (TTM)60.3×
19.41×P/S (TTM)21.22×
34.97×P/B—
50.1×EV/EBITDA48.2×
2.19×PEG2.27×
−58.8%Fair value upside−56.9%
0.4%Dividend yield0.4%
€6.56Dividend per share$7.60
Profitability
37%Operating margin41%
1.19×EBIT margin trend (5Y)1.42×
54%Return on equity95%
16%Return on assets21%
Growth
21%Revenue growth (YoY)12%
15.6%Avg. growth/yr (3Y)9.7%
18.5%Avg. growth/yr (5Y)15.9%
+24.3%Value creation/yr+28.5%
Balance & size
95.5×Interest coverage (EBIT/interest)17.3×
0.14×Debt / equity1.25×
$686BMarket cap$278B
healthyGrowth qualityhealthy

KLA leads: 6 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

ASML Holdingof which business quality 79 · market factors 66 KLAof which business quality 79 · market factors 51
ProfitabilityMargins and returns on capital today
81
88
Quality GrowthAre margins and returns improving?
77
92
CashflowEarnings quality: real cash, not paper profit
86
82
Fin. StrengthBalance sheet, leverage, solvency risk
85
62
InvestmentDisciplined investing over empire-building
42
51
Low VolatilityCalm price path (market factor)
35
15
MomentumPrice trend over the last 3–12 months (market factor)
73
63
52W MomentumDistance to the 52-week high (market factor)
88
70
Net IssuanceBuybacks instead of dilution
92
99

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyASML HoldingPrice €1,467KLAPrice $173
DCF Models-44%below the price€822-51%below the price$84.92
Earnings-Based-73%below the price€393-76%below the price$42.07
Dividend Discount-91%below the price€127-92%below the price$13.23
Multiples-65%below the price€515-64%below the price$62.96
Asset-Based-98%below the price€34.21-99%below the price$2.41
Growth DCF-48%below the price€756-62%below the price$65.93
Economic Profit-74%below the price€376-73%below the price$47.10
Growth Earnings-54%below the price€675-57%below the price$74.54
Minimum-98%below the price€34.21-99%below the price$2.41
Maximum-44%below the price€822-51%below the price$84.92
Median-69%below the price€454-68%below the price$55.03
Geometric mean-78%below the price€329-81%below the price$33.69

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

ASML Holding: 26 of 26 models see the stock below the current price.

KLA: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

ASML Holding
Bear €425Fair Value €604Bull €877
€1,467 = current price (white tick)
KLA
Bear $40.67Fair Value $74.58Bull $96.90
$173 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

ASML Holding · Information Technology

Quality score82 · Top 25%
Fair value upside-59% · below median

KLA · Information Technology

Quality score82 · Top 25%
Fair value upside-57% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees KLA as the less overvalued of the two: ASML Holding trades at €1,467 versus a fair value of €604 (-59%), while KLA trades at $173 versus $74.58 (-57%).

KLA has the higher quality score (82/100).

See the full analysis →
ASML Holding · KLA

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.