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ASML Holding — 护城河评估

$打开交互终端运行 `audit moat` 并使用自定义选项。→
资本流向回报率指标盈利质量负债纪律护城河评估
MOAT ASSESSMENT

TICKER: [US.ASML - ASML Holding]
PERIOD: [2010-ANNUAL ~ 2025-ANNUAL]


Parameter  Value
----------------
WACC         10%
Tax Rate   21.0%


[+] ROIC Quality: Median 31.5%
    ↳ Median > 15% = high returns
[~] ROIC Stability: CoV 66.5%
    ↳ CoV < 10% = highly stable
[+] Gross Margin Stability: 8.1%
    ↳ CoV < 10% = stable pricing power
[+] Economic Moat (ROIC-WACC): 21.5%
    ↳ > 5% = creating economic value


Metric  Gross Margin      ROIC
------------------------------
Mean           46.8%     49.7%
Median         45.9%     31.5%
Max            52.8%     98.9%
Min            41.5%     17.5%
StdDev          3.8%     33.0%
CoV             8.1%     66.5%
Slope       0.73%/yr  3.54%/yr
R²               83%       23%


[DATA]


Period       Revenue  Gross Profit    GM%   ROIC  ROIC-WACC
-----------------------------------------------------------
2010 ANNUAL    4.51B         1.96B  43.4%      -          -
2011 ANNUAL    5.65B         2.45B  43.3%  92.0%      82.0%
2012 ANNUAL    4.73B         2.01B  42.4%  54.0%      44.0%
2013 ANNUAL    5.25B         2.18B  41.5%  22.3%      12.3%
2014 ANNUAL    5.86B         2.60B  44.3%  17.7%       7.7%
2015 ANNUAL    6.29B         2.90B  46.1%  19.8%       9.8%
2016 ANNUAL    6.88B         3.15B  45.7%  17.5%       7.5%
2017 ANNUAL    8.96B         4.02B  44.9%  20.1%      10.1%
2018 ANNUAL   10.94B         5.03B  46.0%  24.5%      14.5%
2019 ANNUAL   11.82B         5.28B  44.7%  22.4%      12.4%
2020 ANNUAL   13.98B         6.80B  48.6%  31.5%      21.5%
2021 ANNUAL   18.61B         9.81B  52.7%  62.8%      52.8%
2022 ANNUAL   21.17B        10.70B  50.5%  93.7%      83.7%
2023 ANNUAL   27.56B        14.14B  51.3%  95.8%      85.8%
2024 ANNUAL   28.26B        14.49B  51.3%  72.5%      62.5%
2025 ANNUAL   32.67B        17.26B  52.8%  98.9%      88.9%
audit moat
MOAT ASSESSMENT TICKER: [US.ASML - ASML Holding] PERIOD: [2010-ANNUAL ~ 2025-ANNUAL]
Parameter Value
----------------
WACC 10%
Tax Rate 21.0%
[+] ROIC Quality: Median 31.5% ↳ Median > 15% = high returns
[~] ROIC Stability: CoV 66.5% ↳ CoV < 10% = highly stable
[+] Gross Margin Stability: 8.1% ↳ CoV < 10% = stable pricing power
[+] Economic Moat (ROIC-WACC): 21.5% ↳ > 5% = creating economic value
Metric Gross Margin ROIC
------------------------------
Mean 46.8% 49.7%
Median 45.9% 31.5%
Max 52.8% 98.9%
Min 41.5% 17.5%
StdDev 3.8% 33.0%
CoV 8.1% 66.5%
Slope 0.73%/yr 3.54%/yr
R² 83% 23%
[DATA]
Period Revenue Gross Profit GM% ROIC ROIC-WACC
-----------------------------------------------------------
2010 ANNUAL 4.51B 1.96B 43.4% - -
2011 ANNUAL 5.65B 2.45B 43.3% 92.0% 82.0%
2012 ANNUAL 4.73B 2.01B 42.4% 54.0% 44.0%
2013 ANNUAL 5.25B 2.18B 41.5% 22.3% 12.3%
2014 ANNUAL 5.86B 2.60B 44.3% 17.7% 7.7%
2015 ANNUAL 6.29B 2.90B 46.1% 19.8% 9.8%
2016 ANNUAL 6.88B 3.15B 45.7% 17.5% 7.5%
2017 ANNUAL 8.96B 4.02B 44.9% 20.1% 10.1%
2018 ANNUAL 10.94B 5.03B 46.0% 24.5% 14.5%
2019 ANNUAL 11.82B 5.28B 44.7% 22.4% 12.4%
2020 ANNUAL 13.98B 6.80B 48.6% 31.5% 21.5%
2021 ANNUAL 18.61B 9.81B 52.7% 62.8% 52.8%
2022 ANNUAL 21.17B 10.70B 50.5% 93.7% 83.7%
2023 ANNUAL 27.56B 14.14B 51.3% 95.8% 85.8%
2024 ANNUAL 28.26B 14.49B 51.3% 72.5% 62.5%
2025 ANNUAL 32.67B 17.26B 52.8% 98.9% 88.9%