Quick verdict: AMD vs ASML in 2026

Overall, ASML leads on 7 of 12 comparable metrics, indicating a stronger fundamental position and better valuation metrics despite AMD’s superior revenue growth. AMD stands out as the growth leader with a robust 34.3% YoY revenue increase, while ASML takes the crown for value and profitability with a P/E of 47.07x and significantly higher net margins of 29.71%. Analysts show a slightly stronger consensus for AMD in terms of buy ratings at 68.1%, but ASML offers greater potential upside according to its higher price target. Not investment advice.

AMD vs ASML: key metrics side by side

Full side-by-side comparison of AMD and ASML across valuation, profitability, growth and analyst sentiment. Data updated 2026-04-16.

AMD vs ASML valuation comparison

AMD vs ASML valuation presents a fascinating contrast for investors evaluating these two technology giants in 2026. Advanced Micro Devices (AMD) currently trades at a P/E ratio of 103.62x, which is considerably higher than ASML Holding N.V.’s P/E of 47.07x. This significant difference suggests that investors are willing to pay a much larger premium for AMD’s earnings, likely driven by its higher growth prospects and market expansion. On an earnings multiple basis, ASML appears to be the comparatively cheaper stock, offering a more attractive entry point for value-conscious investors.

However, when examining the Price-to-Book (P/B) ratio, the AMD vs ASML valuation picture shifts. AMD appears more attractive at 7.13x compared to ASML’s significantly higher 22.62x. This indicates that AMD’s market valuation is lower relative to its book value, which could appeal to investors focusing on asset-backed value. Both companies, despite their robust market positions and innovative technologies, face significant implied overvaluation according to discounted cash flow (DCF) models. AMD’s DCF suggests a substantial downside of -76.0%, while ASML’s model points to a -74.2% downside. While both are in deeply negative territory, ASML’s implied discount is marginally less severe. For investors prioritizing a lower earnings multiple, ASML offers a more appealing entry point, while those focusing on book value might find AMD’s valuation more palatable.

AMD vs ASML growth comparison

When evaluating AMD vs ASML growth, Advanced Micro Devices clearly demonstrates stronger momentum with a remarkable year-over-year revenue growth rate of 34.3%. This is more than double ASML Holding N.V.’s respectable revenue growth of 15.6%. AMD’s robust expansion reflects its aggressive strategic moves and increasing market share in high-demand sectors such as data centers, gaming, and artificial intelligence, continually challenging its competitors with innovative processor and graphics solutions. With total trailing twelve-month (TTM) revenue reported at $34.64 billion, AMD is slightly ahead of ASML’s $32.67 billion in TTM revenue, showcasing its larger revenue base combined with a significantly higher rate of expansion.

ASML’s growth, while not as explosive as AMD’s, is still impressive for a company operating at the absolute cutting edge of semiconductor manufacturing technology. Its critical and near-monopolistic role in providing essential lithography equipment to chipmakers worldwide ensures a steady, albeit more measured, demand for its products. ASML’s growth is often tied to the broader capital expenditure cycles of the semiconductor industry. However, for investors primarily focused on identifying companies with the strongest top-line expansion and market share gains in 2026, AMD’s significantly higher revenue growth rate positions it as the clear leader in this category. This indicates a more dynamic and rapidly expanding business compared to ASML, which operates in a more capital-intensive and cyclical, yet indispensable, part of the technology ecosystem.

AMD vs ASML profitability

In terms of AMD vs ASML profitability, ASML Holding N.V. stands out as a significantly more efficient and profitable enterprise. ASML boasts an impressive net margin of 29.71%, which is more than double Advanced Micro Devices’ net margin of 12.51%. This wide disparity indicates ASML’s superior ability to convert revenue into net income, highlighting its strong pricing power, operational efficiency, and possibly a less competitive landscape in its highly specialized niche market. The critical and complex nature of its advanced lithography machines means it operates with substantial barriers to entry, enabling these substantially higher margins.

Furthermore, ASML’s EBITDA margin of 37.99% dwarfs AMD’s 21.03%, further underscoring its operational profitability before accounting for non-operating expenses and asset depreciation. While both companies have Return on Equity (ROE) reported as N/A, which limits a direct comparison on equity efficiency, ASML’s free cash flow (FCF) yield of 1.89% is also marginally higher than AMD’s 1.5%. This suggests ASML is slightly better at generating cash relative to its market capitalization, providing more financial flexibility for future investments or shareholder returns. Overall, in a direct comparison of AMD vs ASML profitability, ASML unequivocally demonstrates a stronger capacity to generate profits and free cash flow from its operations in 2026, solidifying its position as a highly efficient business.

Analyst ratings: AMD vs ASML

When examining analyst ratings for AMD vs ASML, both companies receive a consensus “Buy” recommendation from the financial community, underscoring their perceived strong market positions and future prospects. However, there are notable nuances in their analyst sentiment. Advanced Micro Devices (AMD) garners slightly higher conviction, with a substantial 68.1% of the 69 analysts covering the stock issuing a “Buy” rating. Their collective consensus price target for AMD is $299.9, which suggests an implied upside of +8.8% from its current price of $275.58. This indicates a strong belief in AMD’s continued growth trajectory and its ability to capture market share in key technology sectors.

ASML Holding N.V., while also enjoying a “Buy” consensus, has a slightly lower percentage of “Buy” ratings, with 57.8% of the 45 analysts covering the company. Despite this, ASML’s consensus price target is $1595.2, offering a more significant implied upside of +11.3% from its current price of $1433.11. This larger potential upside suggests that while fewer analysts might be as enthusiastic about ASML as they are about AMD, those who do cover it see substantial room for the stock to appreciate due to its foundational role in the semiconductor industry and robust profitability. Therefore, while AMD appears to be the broader analyst favorite in terms of conviction percentage, ASML currently offers a higher percentage upside according to their collective price targets, a key consideration for investors comparing AMD vs ASML in 2026.

Should I buy AMD or ASML stock in 2026?

Deciding whether to buy AMD or ASML stock in 2026 depends heavily on an investor’s specific objectives and risk tolerance, as both offer distinct investment profiles. For growth-oriented investors, AMD clearly presents a more compelling case. Its remarkable year-over-year revenue growth of 34.3% significantly outpaces ASML’s 15.6%, indicating a company that is expanding rapidly and gaining market share in critical technology segments like high-performance computing, data centers, and artificial intelligence. While AMD trades at a higher P/E ratio of 103.62x, this premium often reflects the market’s strong expectation of continued aggressive growth and innovation, making it an attractive option for those prioritizing top-line expansion and disruptive potential.

For value-focused investors, ASML might be the more appealing choice when considering AMD vs ASML fundamentals and valuation. Despite its higher absolute share price, ASML trades at a P/E ratio of 47.07x, which is considerably lower than AMD’s 103.62x, suggesting it offers better value per dollar of earnings. Furthermore, ASML’s superior profitability metrics, including a net margin of 29.71% and an EBITDA margin of 37.99%, highlight its operational efficiency and strong market position within its highly specialized industry. While both stocks show significant implied overvaluation by DCF models, ASML’s slightly less severe negative DCF upside (-74.2% vs. -76.0%) could be seen as a marginal advantage for value considerations, making ASML a potentially better choice for investors seeking a more fundamentally sound, albeit slower-growing, investment.

Regarding income, neither AMD nor ASML are significant dividend payers, which is common for growth-focused technology companies that prefer to reinvest earnings back into research and development. AMD currently has a dividend yield of 0%, meaning it channels all its earnings back into the business for future growth initiatives. ASML, while also largely focused on growth and innovation, offers a nominal dividend yield of 0.01%. For investors seeking substantial income from their portfolio, neither stock would be a primary choice. However, if even a marginal dividend is a factor, ASML technically offers a minimal return, although this should not be a deciding factor for investment in either of these technology giants in 2026. This is not investment advice; always conduct thorough personal research and consider your own financial situation.

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