Data as of:
LIVE
KLAC
KLA Corporation · Technology
$175.45
-4.03% this month
VERSUS
COMPARE
ASML
ASML Holding N.V. · Technology
$1,696.01
+4.11% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
KLAC
4
ASML
1
Comparison scoreboard
KLAC LEADS 4/5AI Score
KLAC ✓77.4
ASML 73.0
1Y Return
KLAC +101.20%
ASML ✓+128.38%
Fwd P/E
KLAC ✓26.30
ASML 28.16
Target Up.
KLAC ✓+33.50%
ASML +26.41%
Op. Margin
KLAC ✓42.49%
ASML 37.06%
Metrics last refreshed: 8/31/2026
Quick take
KLAC vs ASML: KLA vs ASML Stock Comparison: AI Score, Valuation, Performance and Upside
KLA is the world's leading process control equipment company that inspects wafers throughout manufacturing, while ASML is the world's sole EUV lithography provider whose machines are required for every leading-edge chip. ASML has the most durable monopoly in all of semiconductor equipment; KLA has the most critical quality control function with less direct monopoly power.
KLAC vs ASML is process control market leader versus the world's only EUV lithography monopoly — ASML has the highest pricing power of any semiconductor equipment company because no substitute exists; KLA benefits from increasing defect inspection intensity at each advanced node.
Live analysis · updated 8/31/2026
KLAC holds the edge across 4 of 5 key metrics in this comparison. ASML has delivered stronger 1-year price return (+128.38% vs +101.20%), though KLAC has the better forward P/E setup (26.30x vs 28.16x for ASML). On fundamentals, ASML is growing revenue faster (21.30%), while KLAC maintains the higher operating margin (42.49%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for KLAC (+33.50%) than for ASML (+26.41%).
Want a full valuation workup? 16-section report — AI Score, Monte Carlo forecast, bull/bear case, DCF, and more.
Normalized 1Y performance
KLAC
ASML
Recent returns
KLAC
ASML
Analyst price targets & sentiment
KLAC · 26 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.1/5.0)
Price target range
analyst high$900.00
analyst mean$234.35
current price$175.45
+33.5% upside to analyst mean
ASML · 12 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
Price target range
analyst low$715.03
analyst mean$2,144.13
current price$1,696.01
+26.4% upside to analyst mean
Who should consider this stock?
KLAC may suit investors who:
- want the dominant process control equipment company benefiting from defect inspection intensity at advanced nodes
- value KLA's advanced packaging process control as a new revenue driver for AI chip packaging
- prefer a more US-centric equipment company with somewhat lower China export control exposure than DUV-focused peers
- believe process control spending as a percent of overall WFE will grow as nodes advance
ASML may suit investors who:
- want the world's most dominant semiconductor equipment monopoly through EUV lithography exclusivity
- value ASML's High-NA EUV as the next-generation equipment that sustains EUV revenue at premium ASPs
- are comfortable with China DUV restriction impact in exchange for the deepest moat in semiconductor equipment
- prefer a European-listed semiconductor equipment company with TSMC and Samsung as anchor customers
Performance & AI score
| Metric | KLAC | ASML |
|---|---|---|
| AI score | 77.4 | 73.0 |
| AI rank | #16 | #26 |
| Latest close | $175.45 | $1,696.01 |
| 1M return | -4.03% | +4.11% |
| 6M return | +14.30% | +19.14% |
| 1Y return | +101.20% | +128.38% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | KLAC | ASML |
|---|---|---|
| 1Y ago | $20.73K (+107.3%) started 2025-09-02 | $23.37K (+133.7%) started 2025-09-02 |
| 5Y ago | $82.05K (+720.5%) started 2021-09-01 | $20.14K (+101.4%) started 2021-09-01 |
| 10Y ago | $1.39M (+13770.2%) started 2016-09-01 | $157.78K (+1477.8%) started 2016-09-01 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | KLAC | ASML |
|---|---|---|
| Market cap | $229.35B | $651.5B |
| Trailing P/E | 48.09 | 57.15 |
| Forward P/E | 26.30 | 28.16 |
| Price/Sales | 9.25 | 9.64 |
| EV/Revenue | 16.98 | 1024.37 |
| Analyst target | $234.35 | $2,144.13 |
| Target upside | +33.50% | +26.41% |
Growth, profitability & risk
| Metric | KLAC | ASML |
|---|---|---|
| Revenue growth | 15.20% | 21.30% |
| Earnings growth | 13.80% | 28.50% |
| EPS growth | +13.80% | +28.50% |
| FCF margin | +19.33% | +23.88% |
| Operating margin | 42.49% | 37.06% |
| Profit margin | 35.57% | 30.11% |
| ROIC proxy | 87.50% | 53.94% |
| Return on equity | 87.50% | 53.94% |
| Dividend yield | 0.50% | 0.52% |
| Beta | 1.46 | 1.36 |
| Debt/equity | 96.88 | 9.09 |
| Current ratio | 2.88 | 1.33 |
| Quick ratio | 1.84 | 0.72 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
KLAC max drawdown43.59%
ASML max drawdown22.05%
KLAC max wkly drop26.69%
ASML max wkly drop13.94%
5Y risk snapshot
KLAC max drawdown43.59%
ASML max drawdown57.37%
KLAC max wkly drop26.69%
ASML max wkly drop19.20%
10Y risk snapshot
KLAC max drawdown43.59%
ASML max drawdown57.37%
KLAC max wkly drop26.69%
ASML max wkly drop25.42%
Performance metrics by period
| Period | Metric | KLAC | ASML |
|---|---|---|---|
| 1Y | Growth | +107.30% | +133.66% |
| CAGR | +108.19% | +134.67% | |
| Sharpe ratio | 1.46 | 1.98 | |
| Max drawdown | 43.59% | 22.05% | |
| Max daily drop | 15.24% | 7.82% | |
| Max wkly drop | 26.69% | 13.94% | |
| 5Y | Growth | +444.96% | +101.39% |
| CAGR | +40.38% | +15.04% | |
| Sharpe ratio | 0.87 | 0.44 | |
| Max drawdown | 43.59% | 57.37% | |
| Max daily drop | 15.24% | 16.26% | |
| Max wkly drop | 26.69% | 19.20% | |
| 10Y | Growth | +2783.43% | +1477.83% |
| CAGR | +39.96% | +31.78% | |
| Sharpe ratio | 0.89 | 0.79 | |
| Max drawdown | 43.59% | 57.37% | |
| Max daily drop | 15.24% | 17.35% | |
| Max wkly drop | 26.69% | 25.42% |
Business comparison
| Category | KLAC | ASML |
|---|---|---|
| Company | KLA Corporation | ASML Holding N.V. |
| Sector | Technology | Technology |
| Industry | Semiconductor Equipment & Materials | Semiconductor Equipment & Materials |
| Core business | World's leading semiconductor process control and yield management equipment company. KLA's inspection and metrology tools find defects on wafers at each manufacturing step, allowing fabs to improve yield before processing more layers. KLA serves logic, memory, and advanced packaging fabs. | Dutch semiconductor equipment company and the only manufacturer of extreme ultraviolet (EUV) lithography machines, which are required to pattern the smallest features on advanced logic chips (3nm, 2nm, 1.4nm). ASML also makes deep ultraviolet (DUV) and immersion lithography systems. |
| Investor focus | Advanced logic and memory process control intensity, AI-driven inspection system adoption, advanced packaging yield management demand, and China revenue exposure. | EUV and High-NA EUV backlog, TSMC and Samsung leading-edge node capex, China DUV export restrictions, and High-NA EUV revenue ramp. |
KLAC strengths
- Process control is essential at every node — KLA benefits as leading-edge nodes require more inspection steps to manage defect risk at smaller geometries
- KLA is the only truly scaled independent process control company — competitors are smaller or captive within larger equipment companies
- Advanced packaging for AI chips (CoWoS, SoIC) requires process control at each bonding and stacking step — a growing incremental market
ASML strengths
- ASML is a complete global monopoly in EUV lithography — there is no alternative supplier. No leading-edge chip is possible without ASML machines
- EUV average selling price exceeds $200M per machine for the standard and $350M+ for High-NA EUV — extremely high unit revenue and pricing power
- Semiconductor roadmap extending to 1nm+ nodes requires more EUV layers per chip, increasing ASML's machine intensity per wafer
Risks to watch — KLAC
- China revenue concentration carries ongoing export control risk as US restricts advanced semiconductor equipment to Chinese fabs
- Process control intensity per node has limits — some inspection steps are consolidated rather than multiplied at each node
- Memory downturn cycles reduce inspection and metrology tool demand at NAND and DRAM fabs
Risks to watch — ASML
- China DUV export restrictions significantly reduce ASML's addressable market in one of the world's largest semiconductor equipment buyers
- EUV machine backlog execution and chip shipments at TSMC and Intel depend on customer demand cycles
- High-NA EUV production ramp must accelerate to sustain revenue growth above DUV capacity — early yields at Intel have been challenging
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