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AMAT
Applied Materials, Inc. · Technology
$617.11
+51.66% this month
VERSUS
⟷
COMPARE
ASML
ASML Holding N.V. · Technology
$1,929.68
+32.22% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
AMAT
3
ASML
2
Comparison scoreboard
AMAT LEADS 3/5AI Score
AMAT ✓72.8
ASML 65.7
1Y Return
AMAT ✓+254.48%
ASML +153.36%
Fwd P/E
AMAT ✓34.89
ASML 38.83
Target Up.
AMAT -8.81%
ASML ✓-8.44%
Op. Margin
AMAT 31.90%
ASML ✓36.02%
Metrics last refreshed: 6/20/2026
Quick take
AMAT vs ASML Stock Comparison: AI Score, Valuation, Performance and Upside
Applied Materials and ASML are both essential semiconductor equipment companies but with very different competitive positions. ASML has a complete monopoly on EUV lithography — the single most critical step in advanced chip manufacturing. Applied Materials has the broadest equipment portfolio across all process steps except lithography. ASML's monopoly creates extraordinary pricing power and backlog visibility; AMAT's breadth provides diversification across all chip manufacturing technology transitions.
AMAT vs ASML is the broadest semiconductor equipment portfolio covering all process steps except lithography (Applied Materials) versus the absolute monopoly on EUV lithography — the single most critical enabling technology in advanced chip manufacturing (ASML) — ASML's monopoly moat is unmatched in the semiconductor equipment industry.
Live analysis · updated 6/20/2026
AMAT holds the edge across 3 of 5 key metrics in this comparison. AMAT leads on both 1-year return (+254.48%) and forward P/E (34.89x vs 38.83x for ASML), a relatively favorable combination of momentum and valuation. ASML leads on both revenue growth (13.20%) and operating margin (36.02%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies similar upside for both: -8.81% for AMAT and -8.44% for ASML.
Normalized 1Y performance
AMAT
ASML
Recent returns
AMAT
ASML
Analyst price targets & sentiment
AMAT · 32 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.7/5.0)
Price target range
analyst low$152.00
analyst mean$517.28
current price$617.11
-8.8% upside to analyst mean
ASML · 12 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
Price target range
analyst low$715.03
analyst mean$1,706.26
current price$1,929.68
-8.4% upside to analyst mean
Who should consider this stock?
AMAT may suit investors who:
- →prefer broad semiconductor equipment exposure across deposition, etch, CMP, inspection, and advanced packaging without lithography concentration
- →value Applied Materials' diverse customer base including TSMC, Samsung, Intel, Micron, and Chinese chipmakers across all process nodes
- →want semiconductor equipment compounding from gate-all-around transistor and advanced packaging transitions that create AMAT-specific new tool demand
- →are comfortable with China export control revenue headwinds, WFE spending cyclicality, and ASML lithography monopoly in the most critical process step
ASML may suit investors who:
- →prefer the only manufacturer of EUV lithography machines — the most strategically important single monopoly in the global semiconductor supply chain
- →value ASML's 2+ year EUV backlog providing extraordinary revenue visibility rarely available in capital equipment businesses
- →want the highest-moat semiconductor infrastructure position available — ASML's monopoly is more durable than any other equipment maker's competitive position
- →are comfortable with EUV China export restrictions, quarterly revenue volatility from large machine deliveries, and very high valuation reflecting the monopoly quality
Performance & AI score
| Metric | AMAT | ASML |
|---|---|---|
| AI score | 72.8 | 65.7 |
| AI rank | #31 | #60 |
| Latest close | $617.11 | $1,929.68 |
| 1M return | +51.66% | +32.22% |
| 6M return | +148.56% | +90.04% |
| 1Y return | +254.48% | +153.36% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | AMAT | ASML |
|---|---|---|
| 1Y ago | $35.7K (+257.0%) started 2025-06-18 | $25.34K (+153.4%) started 2025-06-18 |
| 5Y ago | $49.47K (+394.7%) started 2021-06-21 | $28.76K (+187.6%) started 2021-06-18 |
| 10Y ago | $319.73K (+3097.3%) started 2016-06-20 | $199.24K (+1892.4%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | AMAT | ASML |
|---|---|---|
| Market cap | $450.37B | $718.25B |
| Trailing P/E | 53.46 | 62.49 |
| Forward P/E | 34.89 | 38.83 |
| Price/Sales | 4.76 | 9.64 |
| EV/Revenue | 15.48 | 1184.09 |
| Analyst target | $517.28 | $1,706.26 |
| Target upside | -8.81% | -8.44% |
Growth, profitability & risk
| Metric | AMAT | ASML |
|---|---|---|
| Revenue growth | 11.40% | 13.20% |
| Earnings growth | 33.50% | 19.20% |
| EPS growth | +33.50% | +19.20% |
| FCF margin | +10.48% | +24.47% |
| Operating margin | 31.90% | 36.02% |
| Profit margin | 29.31% | 29.71% |
| ROIC proxy | 39.69% | 52.24% |
| Return on equity | 39.69% | 52.24% |
| Dividend yield | 0.37% | 0.47% |
| Beta | 1.67 | 1.40 |
| Debt/equity | 30.40 | 12.99 |
| Current ratio | 2.51 | 1.36 |
| Quick ratio | 1.62 | 0.69 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
AMAT max drawdown21.60%
ASML max drawdown17.85%
AMAT max wkly drop15.30%
ASML max wkly drop14.28%
5Y risk snapshot
AMAT max drawdown55.14%
ASML max drawdown57.37%
AMAT max wkly drop16.59%
ASML max wkly drop19.20%
10Y risk snapshot
AMAT max drawdown55.14%
ASML max drawdown57.37%
AMAT max wkly drop25.36%
ASML max wkly drop25.42%
Performance metrics by period
| Period | Metric | AMAT | ASML |
|---|---|---|---|
| 1Y | Growth | +257.04% | +153.36% |
| CAGR | +257.69% | +153.52% | |
| Sharpe ratio | 2.75 | 2.28 | |
| Max drawdown | 21.60% | 17.85% | |
| Max daily drop | 14.07% | 8.33% | |
| Max wkly drop | 15.30% | 14.28% | |
| 5Y | Growth | +378.89% | +187.55% |
| CAGR | +36.85% | +23.53% | |
| Sharpe ratio | 0.83 | 0.61 | |
| Max drawdown | 55.14% | 57.37% | |
| Max daily drop | 14.07% | 16.26% | |
| Max wkly drop | 16.59% | 19.20% | |
| 10Y | Growth | +2783.05% | +1892.44% |
| CAGR | +39.98% | +34.90% | |
| Sharpe ratio | 0.90 | 0.85 | |
| Max drawdown | 55.14% | 57.37% | |
| Max daily drop | 20.36% | 17.35% | |
| Max wkly drop | 25.36% | 25.42% |
Business comparison
| Category | AMAT | ASML |
|---|---|---|
| Company | Applied Materials, Inc. | ASML Holding N.V. |
| Sector | Technology | Technology |
| Industry | Semiconductor Equipment & Materials | Semiconductor Equipment & Materials |
| Core business | Applied Materials is the world's largest semiconductor equipment company by revenue, providing a broad range of equipment used in chip manufacturing — CVD (chemical vapor deposition), PVD (physical vapor deposition), CMP (chemical mechanical planarization), etch, ion implant, and inspection systems. Applied serves chipmakers at all process nodes across logic, DRAM, NAND, and display manufacturing. Its Materials Engineering platform enables advanced chip packaging including gate-all-around transistors and 3D chip stacking. | ASML is the world's only manufacturer of extreme ultraviolet (EUV) lithography machines — the equipment that prints circuit patterns on chips at the most advanced nodes. Without ASML EUV machines, TSMC, Samsung, and Intel cannot manufacture chips at 5nm, 3nm, 2nm, or beyond. ASML's monopoly on EUV lithography makes it one of the most strategically important technology companies in the world. High-NA EUV (the next generation) enables 2nm and below. |
| Investor focus | Investors track wafer fabrication equipment (WFE) industry spending as the primary revenue driver, China equipment sales (large market subject to export controls), and AI-driven demand from advanced logic chip manufacturing at TSMC, Samsung, and Intel. | Investors track EUV system order backlog, High-NA EUV placement progress (initial systems placed at TSMC and Intel), and China DUV (immersion lithography) sales before export controls restrict additional sales. |
AMAT strengths
- →Broadest semiconductor equipment portfolio covering more manufacturing process steps than any competitor — high equipment diversity reduces single-technology risk
- →Gate-all-around (GAA) transistor transition and advanced packaging demand creates AMAT-specific growth beyond traditional deposition/etch tools
- →Strong service and support revenue from installed equipment base provides recurring income throughout the semiconductor equipment market cycle
ASML strengths
- →Complete monopoly on EUV lithography — ASML is the only company in the world that can produce EUV machines; no competitor exists or is likely for decades
- →EUV order backlog is 2+ years long — chipmakers must commit to ASML years in advance for EUV systems, providing extraordinary revenue visibility
- →High-NA EUV for 2nm and below extends ASML's monopoly into the next generation — TSMC and Intel have placed initial High-NA orders
Risks to watch — AMAT
- →US export controls on advanced semiconductor equipment to China significantly reduced a major revenue stream — China represented 30%+ of AMAT revenue before controls
- →WFE spending is cyclical — semiconductor capex cycles create multi-year oscillations in equipment demand affecting AMAT revenue
- →ASML's EUV dominance means the most critical manufacturing step (lithography) is controlled by a competitor — AMAT lacks lithography products
Risks to watch — ASML
- →Netherlands government has restricted exports of EUV lithography to China — ASML cannot sell its most advanced systems to Chinese chipmakers
- →EUV machines cost $170M–$380M (High-NA) each — customer capex cycles create large quarterly revenue swings as machines ship
- →ASML's sole supplier status makes it a geopolitical target — the Netherlands, US, Japan, and Netherlands export control coordination creates regulatory uncertainty around China sales
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