ASML Holding NVASMLF -1.56%91 Operating Margin % is 36.02% as of Mar. 2026, which is 21% above its 10-year median of 29.84. GuruFocus rates ASMLF with a GF Score™ of 91/100 and a GF Value™ of $1,103.19 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,023 Semiconductors companies, ASML Holding NV ranks better than 96.29% on this metric.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
ASML Holding NV Operating Margin % Related Terms
ASML Holding NV Operating Margin % Historical Data
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The historical data trend for ASML Holding NV's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASMLF vs LRCX, AMAT, KLAC: Operating Margin % Comparison
For the Semiconductor Equipment & Materials subindustry, ASML Holding NV's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ASML Holding NV Operating Margin % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, ASML Holding NV's Operating Margin % distribution charts can be found below:
* The bar in red indicates where ASML Holding NV's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
ASML Holding NV's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASML Holding NV (ASMLF) has a Operating Margin % of 36.02% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on ASML Holding NV and its competitors. This is 21% above median its historical median of 29.84. Over the past decade, ASML Holding NV's Operating Margin % has ranged from 23.61 to 36.20. According to the industry distribution chart, ASML Holding NV ranks #38 out of 1023 companies in the Semiconductors industry, placing it in the top 3.7%.
Is ASML Holding NV's Operating Margin % too high?
ASML Holding NV's current Operating Margin % of 36.02% is 21% above median its 10-year median of 29.84. Over the past 10 years, this metric has ranged from a low of 23.61 to a high of 36.20. The Semiconductors industry median Operating Margin % is 5.18. ASML Holding NV's value of 36.02% is 595.4% above this industry median. Based on the distribution chart, ASML Holding NV ranks #38 out of 1023 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, ASML Holding NV has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ASML Holding NV's Operating Margin % compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, ASML Holding NV ranks #38 out of 1023 companies for Operating Margin %. This places ASML Holding NV in the top 4% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 5.18. ASML Holding NV's value of 36.02% is 595.4% above this benchmark. Historically, ASML Holding NV's own Operating Margin % has ranged from 23.61 to 36.20 over the past decade. While the company's 10-year median is 29.84 vs. the industry median of 5.18, ASML Holding NV has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Semiconductors company?
The median Operating Margin % among Semiconductors companies is 5.18, based on 1,023 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ASML Holding NV's current Operating Margin % of 36.02% is 595.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on ASML Holding NV and its competitors. For the Semiconductors industry, the median Operating Margin % is 5.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASML Holding NV's current Operating Margin % is 36.02%, which is 21% above median its own 10-year median of 29.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASML Holding NV stock overvalued right now?
Based on GuruFocus' analysis, ASML Holding NV (ASMLF) is currently considered Significantly Overvalued. The stock's GF Value™ is $1,103.19, compared to a current price of $1,758.00 — trading 59.4% above its estimated fair value. The current Operating Margin % is 36.02%, which is 21% above median its 10-year median of 29.84 and 595.4% above the Semiconductors industry median of 5.18. ASML Holding NV's overall GF Score™ is 91/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For ASML Holding NV (ASMLF), the current Operating Margin % is 36.02% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ASML Holding NV (ASMLF) Overvalued in 2026?
Based on GuruFocus' analysis, ASML Holding NV stock appears to be overvalued.
The current stock price of $1,758.00 is trading 59.4% above its estimated GF Value™ of $1,103.19.
GuruFocus considers ASML Holding NV to be Significantly Overvalued.
Key valuation signals for ASMLF:
Operating Margin %: 36.02% (21% above median its 10-year median of 29.84)
GF Value™: $1,103.19 vs. price of $1,758.00 (59.4% above fair value)
Industry Position: 595.4% above the Semiconductors median (#38 of 1023)
No single metric tells the full story. See the ASMLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ASML is the leader in lithography systems for manufacturing semiconductors with 90% market share. Lithography is the process in which a light source is used to expose circuit patterns from a photo mask onto a semiconductor wafer. Lithography allows chipmakers to increase the number of transistors on the same area of silicon, with lithography historically representing a high portion of the cost of making cutting-edge chips. ASML outsources the manufacturing of most of its parts, acting like an assembler. ASML's largest clients are TSMC, Samsung, Intel, SK Hynix, and Micron.
91GF Score
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