ASML Holding NV (ASML) is overvalued and Lam Research Corp (LRCX) is overvalued.
Both trade above our estimate of their intrinsic value. ASML is the closer of the two: -53%, against -57% for LRCX.
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 $197.54; the price of $310.96 is 57% above that value.
Leak Score 65/100 on 10 of 12 signals
| Metric | ASML | LRCX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $1747.90 | $310.96 |
| Intrinsic value | $1145.30 | $197.54 |
| Margin of safety | -53% | -57% |
| Leak Score | 59/100 (3/12) | 65/100 (10/12) |
| Market cap | $673.7B | $389.1B |
| Revenue growth, 5 years | 18.3% | 9.7% |
| Operating margin | 35.4% | 35.3% |
| Net margin | 30.1% | 31.3% |
| Return on equity | 54.4% | 65.1% |
| Debt to equity | 0.09 | 0.33 |
| P/E | 54.4x | 54.0x |
| Forward P/E | 28.8x | 26.2x |
| P/B | 27.0x | 31.2x |
| Dividend yield | 0.6% | 0.4% |