ASML vs TER: ASML Holding NV ADR and Teradyne compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- ASML Holding NV ADR is the larger company, worth $651.6B, about 10.4 times Teradyne.
- Teradyne grew revenue faster over the last year (+103.9% vs +15.6%).
- ASML Holding NV ADR keeps more of each dollar of revenue as operating profit (34.6% vs 30.2%).
- On earnings, ASML Holding NV ADR is the cheaper stock (55.7x vs 74.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ASML | TER |
|---|---|---|
| Market cap | $651.6B | $62.7B |
| Share price | $1,780.34 | $411.78 |
| Revenue (last fiscal year) | $32.7B | $3.2B |
| Free cash flow (last fiscal year) | $11.1B | $450M |
| Revenue growth, last year | +15.6% | +103.9% |
| Revenue growth per year, last 5 fiscal years | +15.1% | -3.7% |
| Operating margin | 34.6% | 30.2% |
| Net margin | 29.4% | 25.8% |
| Return on equity | 49.0% | 33.5% |
| P/E (trailing) | 55.7x | 74.0x |
| Price / free cash flow | 61.2x | 139.2x |
| EV / EBITDA | 42.1x | 41.0x |
| FCF growth the price implies | — | 31.0% |
| Dividend yield | 0.52% | 0.12% |
| Debt / equity | 1.58x | 0.42x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 5 |
| Insider purchases, last 12 months | 0 | 9 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
ASML Holding NV ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.6B | $9.9B | 36.3% |
| 2022 | $21.2B | $7.2B | 30.7% |
| 2023 | $27.6B | $3.3B | 32.8% |
| 2024 | $28.3B | $9.1B | 31.9% |
| 2025 | $32.7B | $11.1B | 34.6% |
Teradyne
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.7B | $966M | 32.4% |
| 2022 | $3.2B | $415M | 26.4% |
| 2023 | $2.7B | $426M | 18.7% |
| 2024 | $2.8B | $474M | 21.1% |
| 2025 | $3.2B | $450M | 20.4% |
Where the revenue comes from
ASML Holding NV ADR · by products, 2025
Product$24.5B75%
Net service and field option sales$8.2B25%
Teradyne · by segments, 2025
Semiconductor Test$2.5B79%
Product Test$358M11%
Robotics$308M10%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ASML in InvestinglyQuestions
Which is bigger, ASML Holding NV ADR or Teradyne?
ASML Holding NV ADR (ASML), at $651.6B against $62.7B.
Is ASML or TER cheaper?
By trailing P/E, ASML Holding NV ADR (55.7x) is cheaper than Teradyne (74.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, ASML or TER?
Teradyne: revenue grew +103.9% over the last year, against +15.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.