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 2026-05-20.
Applied Materials, Inc. · Technology
$406.91
-12.0% upside to fair value
Grade B-
High Quality
VS
ASML Holding N.V. · Technology
$1,458.97
+45.0% upside to fair value
Grade B
High Quality
QuantHub Verdict
ASML has more upside to fair value
(+45.0%).
AMAT trades at a lower forward P/E
(30.3x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
ASML |
| Current Price |
$406.91 |
$1,458.97 |
| Fair Value Estimate |
$358.00 |
$2,115.51 |
| Upside to Fair Value |
-12.0%
|
+45.0%
|
| Market Cap |
$322.9B |
$562.3B |
| Forward P/E |
30.3x
|
48.3x
|
| EV / EBITDA |
30.2x
|
37.6x
|
| Price / Sales |
10.2x
|
14.4x
|
| Price / FCF |
51.6x
|
54.4x
|
| Revenue Growth YoY |
+11.0%
|
+13.2%
|
| Gross Margin |
49.9%
|
52.6%
|
| Operating Margin |
31.9%
|
34.8%
|
| Return on Equity |
47.0%
|
52.0%
|
| Dividend Yield |
0.45% |
0% |
| FCF Yield |
1.94%
|
1.84%
|
| Analyst Consensus |
Strong Buy
|
Strong Buy
|
Investment Thesis
Applied Materials is the world's leading semiconductor and display equipment company, and the May 14 Q2 fiscal 2026 print materially strengthened the operating story. Revenue grew 11 percent year over year to a record $7.91 billion, non-GAAP earnings per share of $2.86 beat consensus of $2.68, and management guided Q3 to a record $8.95 billion in revenue with non-GAAP earnings per share of $3.36 …
ASML Holding N.V. is a leading technology company specializing in semiconductor manufacturing equipment, particularly extreme ultraviolet lithography machines which hold a near-monopoly position. The company benefits from a durable competitive moat driven by its technological leadership, high barriers to entry, and strong demand from semiconductor manufacturers globally, especially in China. Desp…
Accumulation Zones
| Metric |
AMAT |
ASML |
| Zone Low |
$268.50 |
$1,586.63 |
| Zone High |
$304.30 |
$1,798.18 |
| In Buy Zone? |
No
|
Yes
|