ASML vs. ON: ASML vs. ON Semiconductor Stock Comparison

November 11, 2026

How do ASML (ASML) and ON Semiconductor (ON) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

ASML (ASML) and ON Semiconductor (ON) both belong to the Semiconductors & Semiconductor Equipment industry, though ASML is classified under Semiconductor Materials & Equipment while ON falls under Semiconductors.

ON Semiconductor (ON) trades as ordinary local shares, while ASML (ASML) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for ASML (ASML) and ON Semiconductor (ON)
Profile Item	ASML	ON
Name	ASML Holding N.V. NY Registered Shares	ON Semiconductor Corporation
Country/Region	Netherlands	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment	Semiconductors
Market Capitalization	549.12 billion USD	24.65 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	March 15, 1995	May 2, 2000
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

ASML

GSPC

ASML (ASML) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for ASML (ASML) and ON Semiconductor (ON). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ASML (ASML) and ON Semiconductor (ON). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Total Return (1Y)	50.12%	43.93%
Total Return (3Y, Annualized)	34.80%	2.27%
Total Return (5Y, Annualized)	13.32%	3.42%

Risk Profile

Drawdown History

ASML

GSPC

ASML (ASML) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for ASML (ASML) and ON Semiconductor (ON). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Volatility (1Y, Annualized)	48.80%	64.26%
Beta (5Y)	1.80	2.14
Max Drawdown (5Y)	-56.47%	-70.44%
Avg. Volume (3M)	1.42M	10.22M

Risk-Adjusted Performance

Risk-Return Positioning

ASML and ON are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Sharpe Ratio (1Y)	0.94	0.62
Sortino Ratio (1Y)	1.39	0.88

Profitability

ROE (TTM)

ASML (ASML) at 65.64% clears its industry range for ROE, a sharper capital-efficiency signal than ON Semiconductor (ON) at 8.91%, which is closer to a typical peer reading.

ASML

Semiconductors & Semiconductor Equipment industry group

65.64%

ASML: 65.64%
Max: 52.82%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

ON

Semiconductors & Semiconductor Equipment industry group

8.91%

Max: 52.82%
Q3: 22.26%
Median: 10.58%
ON: 8.91%
Q1: 1.29%
Min: -16.89%

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

ASML (ASML) at 34.14% retains a top-quartile share of revenue as profit, ahead of ON Semiconductor (ON) at 10.82%, which keeps about the industry-typical share.

ASML

Semiconductors & Semiconductor Equipment industry group

34.14%

Max: 63.80%
ASML: 34.14%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

ON

Semiconductors & Semiconductor Equipment industry group

10.82%

Max: 63.80%
Q3: 28.36%
Median: 11.44%
ON: 10.82%
Q1: 0.90%
Min: -37.77%

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

ASML (ASML) at 44.36% operates in the top operating margin quartile, ahead of ON Semiconductor (ON) at 22.23%, which runs around its industry’s norm.

ASML

Semiconductors & Semiconductor Equipment industry group

44.36%

Max: 58.66%
ASML: 44.36%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

ON

Semiconductors & Semiconductor Equipment industry group

22.23%

Max: 58.66%
Q3: 30.23%
ON: 22.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
ROE (TTM)	65.64%	8.91%
ROA (TTM)	18.28%	6.03%
Net Margin (TTM)	34.14%	10.82%
Operating Margin (TTM)	44.36%	22.23%
Gross Margin (TTM)	54.34%	39.90%

Growth

Revenue Growth

ASML (ASML) at 15.58% is around its peer norm for revenue growth, while ON Semiconductor (ON) at -15.35% drops into the bottom quartile, signaling weaker demand or pricing momentum.

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their Revenue Growth across different time periods.

EPS Growth

ASML (ASML) at 28.43% is around its peer norm for EPS growth, while ON Semiconductor (ON) at -92.01% drops into the bottom quartile, signaling weaker earnings momentum.

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Revenue Growth (YoY)	15.58%	-15.35%
Revenue Growth (3Y CAGR)	15.55%	-10.37%
EPS Growth (YoY)	28.43%	-92.01%
EPS Growth (3Y CAGR)	15.42%	-59.10%

Financial Strength

Current Ratio (MRQ)

ON Semiconductor (ON) at 3.55 keeps current ratio within its industry’s typical mid-range, while ASML (ASML) at 1.49 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ASML.

ASML

Semiconductors & Semiconductor Equipment industry group

1.49

Max: 10.33
Q3: 5.62
Median: 3.33
Q1: 2.35
ASML: 1.49
Min: 1.03

ON

Semiconductors & Semiconductor Equipment industry group

3.55

Max: 10.33
Q3: 5.62
ON: 3.55
Median: 3.33
Q1: 2.35
Min: 1.03

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

Both ASML (ASML) at 0.09 and ON Semiconductor (ON) at 0.62 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

ASML

Semiconductors & Semiconductor Equipment industry group

0.09

Max: 1.46
Q3: 0.65
Median: 0.27
ASML: 0.09
Q1: 0.04
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

0.62

Max: 1.46
Q3: 0.65
ON: 0.62
Median: 0.27
Q1: 0.04
Min: 0.00

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Current Ratio (MRQ)	1.49	3.55
Debt / Equity (MRQ)	0.09	0.62
Net Debt / EBITDA	-0.67	0.18

Dividends

Dividend Yield (TTM)

ON Semiconductor (ON) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile ASML (ASML) reports a yield of 0.55%, ranking against industry peers normally.

ASML

Semiconductors & Semiconductor Equipment industry group

0.55%

Max: 1.37%
Q3: 0.65%
ASML: 0.55%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 1.37%
Q3: 0.65%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

ON Semiconductor (ON) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile ASML (ASML) reports a payout of 22.26%, ranking against industry peers normally.

ASML

Semiconductors & Semiconductor Equipment industry group

22.26%

Max: 49.64%
ASML: 22.26%
Q3: 21.71%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
Dividend Yield (TTM)	0.55%	0.00%
Dividend Payout Ratio (TTM)	22.26%	0.00%

Valuation

P/E Ratio (TTM)

Both ASML (ASML) at 35.06 and ON Semiconductor (ON) at 37.02 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

ASML

Semiconductors & Semiconductor Equipment industry group

35.06

Max: 110.34
Q3: 66.81
Median: 37.02
ASML: 35.06
Q1: 23.96
Min: 8.12

ON

Semiconductors & Semiconductor Equipment industry group

37.02

Max: 110.34
Q3: 66.81
ON: 37.02
Median: 37.02
Q1: 23.96
Min: 8.12

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

ON Semiconductor (ON) at 3.87 is priced about in line with its industry on P/S ratio, while ASML (ASML) at 13.91 sits in the pricier quartile — ASML costs more per dollar of sales.

ASML

Semiconductors & Semiconductor Equipment industry group

13.91

Max: 21.42
ASML: 13.91
Q3: 12.27
Median: 5.76
Q1: 2.73
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

3.87

Max: 21.42
Q3: 12.27
Median: 5.76
ON: 3.87
Q1: 2.73
Min: 0.00

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

ON Semiconductor (ON) at 3.26 sits near its industry’s typical P/B ratio, while ASML (ASML) at 1,223.36 prices above its benchmark range — ASML looks rich relative to book.

ASML

Semiconductors & Semiconductor Equipment industry group

1,223.36

ASML: 1,223.36
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

ON

Semiconductors & Semiconductor Equipment industry group

3.26

Max: 14.06
Q3: 7.44
Median: 4.29
ON: 3.26
Q1: 2.30
Min: 0.20

ASML (ASML) vs. ON Semiconductor (ON): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for ASML (ASML) and ON Semiconductor (ON)
Metric	ASML	ON
P/E Ratio (TTM)	35.06	37.02
P/S Ratio (TTM)	13.91	3.87
P/B Ratio (MRQ)	1,223.36	3.26
Free Cash Flow Yield (TTM)	1.89%	6.55%