Asml Holding Nv Stock Beneish M Score

ASML Stock  USD 990.94  39.26  4.13%   
This module uses fundamental data of ASML Holding to approximate the value of its Beneish M Score. ASML Holding M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out ASML Holding Piotroski F Score and ASML Holding Altman Z Score analysis.
At this time, ASML Holding's Debt Current is quite stable as compared to the past year. Issuance Repayment of Debt Securities is expected to rise to about 283.3 M this year, although the value of Total Debt will most likely fall to about 4.2 B. At this time, ASML Holding's Earnings per Diluted Share is quite stable as compared to the past year. Enterprise Value over EBIT is expected to rise to 32.74 this year, although Book Value per Share will most likely fall to 32.32.
At this time, it appears that ASML Holding NV is a possible manipulator. The earnings manipulation may begin if ASML Holding's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by ASML Holding executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of ASML Holding's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
Beneish M Score - Possible Manipulator
Elasticity of Receivables


Asset Quality


Expense Coverage


Gross Margin Strengs


Accruals Factor


Depreciation Resistance


Net Sales Growth


Financial Leverage Condition



ASML Holding Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if ASML Holding's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense907.4 M1.1 B
Significantly Down
Slightly volatile
Revenues29.7 B27.6 B
Significantly Up
Slightly volatile
Trade and Non Trade Receivables3.5 B4.3 B
Significantly Down
Slightly volatile
Property Plant and Equipment Net6.3 B5.8 B
Significantly Up
Slightly volatile
Operating Income9.8 BB
Significantly Up
Slightly volatile
Net Cash Flow from Operations5.1 B5.4 B
Notably Down
Slightly volatile
Liabilities Non Current8.4 B10.2 B
Significantly Down
Slightly volatile
Current Liabilities17.6 B16.3 B
Significantly Up
Slightly volatile
Total Liabilities21.1 B26.5 B
Significantly Down
Slightly volatile
Investments Non Current1.5 B1.9 B
Significantly Down
Slightly volatile
Investments Current1.6 B1.4 B
Fairly Up
Slightly volatile
Investments3.1 B3.3 B
Notably Down
Slightly volatile
Gross Margin0.540.513
Notably Up
Slightly volatile
Depreciation Amortization and Accretion637.3 M739.8 M
Fairly Down
Slightly volatile
Debt Non Current4.1 B4.6 B
Moderately Down
Slightly volatile
Debt Current102.6 K100 K
Fairly Up
Slightly volatile
Total Debt4.2 B4.6 B
Significantly Down
Slightly volatile
Assets Non Current13.7 B15.6 B
Fairly Down
Slightly volatile
Current Assets20.4 B24.4 B
Fairly Down
Slightly volatile
Total Assets34.1 B40 B
Fairly Down
Slightly volatile

ASML Holding NV Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between ASML Holding's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards ASML Holding in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find ASML Holding's degree of accounting gimmicks and manipulations.

About ASML Holding Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

637.32 Million

At this time, ASML Holding's Depreciation Amortization and Accretion is quite stable as compared to the past year.

ASML Holding Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as ASML Holding. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201920202021202220232024 (projected)
Total Assets22.6B27.3B30.2B36.3B40.0B34.1B
Current Assets12.1B15.9B18.2B23.1B24.4B20.4B
Assets Non Current10.5B11.3B12.0B13.2B15.6B13.7B
Total Liabilities10.0B13.4B20.1B27.5B26.5B21.1B
Current Liabilities4.7B6.6B12.3B18.0B16.3B17.6B
Total Debt3.1B4.7B4.6B4.3B4.6B4.2B
Debt Non Current3.1B4.7B4.1B3.5B4.6B4.1B
Operating Income2.8B4.1B6.8B6.5B9.0B9.8B
Investments Current1.8B3.0B1.8B1.5B1.4B1.6B

About ASML Holding Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze ASML Holding NV's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of ASML Holding using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of ASML Holding NV based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography, metrology, and inspection related systems for memory and logic chipmakers. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands. Asml Holdings is traded on NASDAQ Exchange in the United States.

ASML Holding Investors Sentiment

The influence of ASML Holding's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in ASML. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to ASML Holding's public news can be used to forecast risks associated with an investment in ASML. The trend in average sentiment can be used to explain how an investor holding ASML can time the market purely based on public headlines and social activities around ASML Holding NV. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
ASML Holding's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for ASML Holding's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average ASML Holding's news discussions. The higher the estimated score, the more favorable is the investor's outlook on ASML Holding.

ASML Holding Implied Volatility

ASML Holding's implied volatility exposes the market's sentiment of ASML Holding NV stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if ASML Holding's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that ASML Holding stock will not fluctuate a lot when ASML Holding's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards ASML Holding in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, ASML Holding's short interest history, or implied volatility extrapolated from ASML Holding options trading.

Pair Trading with ASML Holding

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ASML Holding position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ASML Holding will appreciate offsetting losses from the drop in the long position's value.

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The ability to find closely correlated positions to ASML Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASML Holding when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ASML Holding - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ASML Holding NV to buy it.
The correlation of ASML Holding is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ASML Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ASML Holding NV moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ASML Holding can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether ASML Holding NV is a strong investment it is important to analyze ASML Holding's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact ASML Holding's future performance. For an informed investment choice regarding ASML Stock, refer to the following important reports:

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When running ASML Holding's price analysis, check to measure ASML Holding's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ASML Holding is operating at the current time. Most of ASML Holding's value examination focuses on studying past and present price action to predict the probability of ASML Holding's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ASML Holding's price. Additionally, you may evaluate how the addition of ASML Holding to your portfolios can decrease your overall portfolio volatility.
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Is ASML Holding's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of ASML Holding. If investors know ASML will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about ASML Holding listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
Dividend Share
Earnings Share
Revenue Per Share
Quarterly Revenue Growth
The market value of ASML Holding NV is measured differently than its book value, which is the value of ASML that is recorded on the company's balance sheet. Investors also form their own opinion of ASML Holding's value that differs from its market value or its book value, called intrinsic value, which is ASML Holding's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ASML Holding's market value can be influenced by many factors that don't directly affect ASML Holding's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ASML Holding's value and its price as these two are different measures arrived at by different means. Investors typically determine if ASML Holding is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ASML Holding's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.