revenue growth
30 pct
FY 2021
official guidance
ASML HOLDING N.V.
Last · Amsterdam€1445.80-6.00 (-0.41%)stale · yahoo · 146h ago
Market cap€555.3B384.1M sh
P/E · TTM56.9fwd 28.0 · eps 25.41
Beta1.36vs S&P 500
Div yield0.54%annual · TTM
52w range
€625.30€1741.00
Volume482.0Ksession
| Revenue | €32.7B |
|---|---|
| Operating income | €11.3B |
| Net income | €9.6B |
| Free cash flow | €11.1B |
| Operating margin | 34.6% |
| Net margin | 29.4% |
| Return on equity | 49.0% |
| Period | 2025 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
BuyHoldSell
Demand acceleration and EUV scarcity outweigh near-term revenue timing noise.
ASML delivered a strong Q1 with €4.4 billion of sales, nearly 54% gross margin and €4.7 billion of orders, roughly half EUV.
Management raised 2021 expectations to close to 30% sales growth and 51%-52% gross margin, supported by stronger Logic and Memory demand; the main near-term tension is a lighter Q2 from shipment acceptance timing and pulled-forward software upgrades.
Themes
- Euv Demand
- Euv Capacity
- Logic Growth
- Memory Growth
- Installed Base
- Supply Chain Capacity
Near term
Q2 sales and margin are guided lower because several DUV tools shipped without factory acceptance will not be recognized until Q3, while Installed Base software revenue falls from €1.2 billion in Q1 to roughly €0.9 billion.
Second-half revenue should be stronger as delayed DUV acceptance occurs and customer demand converts into shipments.
EUV supply remains constrained in 2021 because ASML did not plan additional systems; EUV is expected to grow about 30% this year.
Longer term
EUV adoption is broadening beyond leading-edge Logic into Memory, with major DRAM makers introducing EUV; customers are also applying more EUV layers in Logic than previously expected.
ASML is planning 55 NXE:3600D systems for 2022, with 15%-20% higher wafer-per-day productivity than the current generation.
Digital transformation, 5G, AI and high-performance computing support a multi-year semiconductor equipment demand cycle beyond the post-COVID catch-up.
Geopolitical efforts toward regional semiconductor self-sufficiency should increase capital intensity and equipment demand, benefiting ASML, though capacity expansion depends heavily on its supply chain.
Red flags
The company remains supply-constrained, and the ability to ramp EUV and DUV output depends on expanding internal and supplier capacity.
Q1 Installed Base strength was partly pulled forward through productivity software upgrades, creating a temporary Q2 comparison headwind.
Management cited strong longer-term demand but did not quantify a full multi-year revenue or earnings framework ahead of the September Capital Markets Day.
Forward outlook
gross margin
51–52 pct
FY 2021
official guidance
gross margin
49 pct
Q2 2021
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
Upcoming earnings
5:30 PM UTC+2
Period
Sep 2026
Est. EPS
$10.58
Est. revenue
11.7B
Earnings transcripts
- Issuer IR
DOWNLOAD Video transcript PDF
ASML HOLDING N.V.
- Issuer webcast
> Investor call webcast replay
ASML HOLDING N.V.
- Issuer IR
DOWNLOAD Video transcript PDF
ASML HOLDING N.V.
- Issuer webcast
Investor days Access webcasts and resources that underline the long-term vision of our industry and our role in it.
ASML HOLDING N.V.
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The rest of this company's wire — with summaries and source links — is part of Pro.
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