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ASML Holding N.V. vs Orion Oyj: Which Stock Looks Stronger in 2026?

Orion Oyj holds the cleaner structural position, with the lead spread across valuation and stability. ASML does not offset that deficit through any equally strong structural edge elsewhere. The market setup is broadly comparable for both — no clear directional signal from price behavior. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the STOXX 600 universe, making them directly comparable.

Updated 2026-05-17

This is not just a one-metric split: both valuation and stability materially support the lead. The overall score gap is 27 points in favour of Orion Oyj.

Trajectory Similarity
0.67
Moderately similar
Peer-set rank: #18
within ASML Holding N.V.'s functional peer set

This pair is matched through long-term financial trajectory similarity within the selected peer universe.

This level of similarity points to a meaningful structural match, though not a tight one.

Most of the shared profile comes through operating margin level and revenue growth trajectory.

Similarity drivers
operating margin levelrevenue growth trajectory
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
ASML.AS
ASML Holding N.V.
35
Peer-Score
Signal qualityMedium
Peer basis: STOXX 600
vs
ORNBV.HE
Orion Oyj
62
Peer-Score
Signal qualitylow
Peer basis: STOXX 600

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

Score differences across key dimensions.

Dimension spread: ASML.AS vs ORNBV.HE Profitability 42 33 Stability 34 77 Valuation 27 73 Growth 39 72 ASML.AS ORNBV.HE
Gap Ranking
#1 Valuation +46
#2 Stability +43
#3 Growth +33
#4 Profitability +9
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for ASML.AS and ORNBV.HE Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ASML.ASORNBV.HE Relative valuation Structural strength

Orion Oyj looks stronger on relative valuation, while the broader price setup remains mixed.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where ASML.AS and ORNBV.HE each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY ASML.AS Elevated · above norm 0th 50th 100th 4 pct gap ORNBV.HE Elevated · near norm 0th 50th 100th 99th 95th
ASML.AS (99th percentile) and ORNBV.HE (95th percentile) both sit in the upper portion of their own 5-year ranges. The historical entry context is broadly similar for both. This reflects entry timing, not which company is structurally stronger.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Valuation
Orion Oyj ranks near the top of the group on valuation; ASML Holding N.V. sits in the weaker half.
Stability
On stability, the gap still runs the same way: Orion Oyj sits near the top of the group, while ASML Holding N.V. remains in the weaker half.
Valuation — Dominant Gap
ASML.AS
27
ORNBV.HE
73
Gap+46in favour of ORNBV.HE

The multiple-based pricing edge comes from a forward P/E that is 16.7 turns lower.

What keeps the gap from being one-sided

Profitability still favours ASML, with a 8.6-point operating margin advantage keeping the comparison from looking fully resolved.

What this means for the comparison

The lead is built on both valuation and stability, making it broader than a single-dimension result.

Explore full peer positioning in AssetNext

Break down the ASML.AS vs ORNBV.HE comparison across all dimensions with the full interactive tool.

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Similar valuation-and-stability comparisons

Explore how ASML.AS and ORNBV.HE each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.