AMAT vs ASML: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and ASML Holding N.V. — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-09-24.
Applied Materials, Inc. · Technology
$474.38
-3.5% upside to fair value
Med Conviction
Grade C
High Quality
VS
ASML Holding N.V. · Technology
$1,744.61
-0.7% upside to fair value
Med Conviction
Grade C
High Quality
QuantHub Verdict
ASML has more upside to fair value
(-0.7%).
These are model outputs — not personalized investment advice.
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Valuation & Fundamentals
| Metric |
AMAT |
ASML |
| Current Price |
$474.38 |
$1,744.61 |
| Fair Value Estimate |
$457.95 |
$1,732.49 |
| Upside to Fair Value |
-3.5%
|
-0.7%
|
| Market Cap |
$376.6B |
$672.4B |
| Forward P/E |
—
|
—
|
| EV / EBITDA |
33.1x
|
42.0x
|
| Price / Sales |
12.2x
|
19.0x
|
| Price / FCF |
67.0x
|
67.2x
|
| Revenue Growth YoY |
+24.8%
|
+21.3%
|
| Gross Margin |
49.4%
|
52.7%
|
| Operating Margin |
30.5%
|
35.4%
|
| Return on Equity |
40.4%
|
52.4%
|
| Dividend Yield |
0.42% |
0.51% |
| FCF Yield |
1.49%
|
1.49%
|
| Analyst Consensus |
Strong Buy
|
Buy
|
Investment Thesis
Applied Materials is the largest supplier of wafer fabrication equipment, providing deposition, etch, ion implantation, and process-control tools alongside a growing Applied Global Services aftermarket business to semiconductor manufacturers worldwide. The business quality is high: TTM gross margin of 49.4%, TTM operating margin of 30.5%, TTM net margin of 30.1%, and ROE of 40.4% reflect a durabl…
ASML Holding N.V. is the Dutch semiconductor equipment maker that supplies lithography, metrology, and inspection systems, including the extreme ultraviolet (EUV) machines required to pattern the most advanced logic and memory chips, and it holds what current coverage describes as a near-monopoly on those EUV tools. The business quality is genuinely high: TTM gross margin of 52.7%, TTM operating …
Accumulation Zones
| Metric |
AMAT |
ASML |
| Zone Low |
$343.46 |
$1,299.37 |
| Zone High |
$389.26 |
$1,472.62 |
| In Buy Zone? |
No
|
No
|