ASML Holding NV (ASML) is overvalued and KLA Corp (KLAC) is overvalued.
Both trade above our estimate of their intrinsic value. ASML is the closer of the two: -53%, against -77% for KLAC.
Values as of the 22 Sept 2026 close.
A 10.6x revenue multiple, adjusted for growth and margin, values the shares at $1145.30; the price of $1747.90 is 53% above that value.
Leak Score 59/100 on 3 of 12 signals
A 10.6x revenue multiple, adjusted for growth and margin, values the shares at $106.46; the price of $188.32 is 77% above that value.
Leak Score 57/100 on 8 of 12 signals
| Metric | ASML | KLAC |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $1747.90 | $188.32 |
| Intrinsic value | $1145.30 | $106.46 |
| Margin of safety | -53% | -77% |
| Leak Score | 59/100 (3/12) | 57/100 (8/12) |
| Market cap | $673.7B | $246.0B |
| Revenue growth, 5 years | 18.3% | 14.4% |
| Operating margin | 35.4% | 41.7% |
| Net margin | 30.1% | 35.6% |
| Return on equity | 54.4% | 87.5% |
| Debt to equity | 0.09 | 0.97 |
| P/E | 54.4x | 51.4x |
| Forward P/E | 28.8x | 27.9x |
| P/B | 27.0x | 38.8x |
| Dividend yield | 0.6% | 0.5% |