ASML Holding N.V. Earnings Recaps
Q3 2026
Oct 16, 2026
ASML shares fell 5.3% after earnings, despite a record quarter and higher Q4 sales guidance. The likely concern is that full-year growth is expected to be heavily driven by memory: management forecasts about 75% growth in memory system sales versus around 10% in logic, while Q4 gross margin is expected to ease to around 57% from 57.5% in Q3.
Key takeaways
- Q3 net sales reached a record €11.7 billion; gross margin was 57.5%, and net income was €5.0 billion, including about €500 million from the higher valuation of ASML’s Mistral AI investment.
- Q4 sales are forecast at €14.2–15.2 billion, with gross margin around 57%.
- Full-year 2026 sales are expected at €44–45 billion, up around 36% year over year, with gross margin around 56%.
- Management expects 2026 EUV sales growth above 45%, non-EUV system sales growth around 20%, and installed base management sales growth around 50%.
- Q3 installed base management sales were €3.3 billion, nearly €400 million above guidance; ASML expects about €3.7 billion in Q4.
Q1 2026
Apr 15, 2026
ASML delivered a robust Q1 2026 with EUR 8.8 billion in revenues and a net income of EUR 2.8 billion, driven by strong Installed Base sales and high gross margins amidst record demand for advanced lithography solutions.
Key takeaways
- Q1 revenue within guidance at EUR 8.8B, with Installed Base revenue exceeding expectations at EUR 2.5B, contributing to a 53% gross margin.
- Anticipated FY 2026 revenues revised upward to EUR 36–40B, supported by surging demand across EUV and non-EUV segments, and strong capacity additions.
- Market momentum remains solid, fueled by persistent AI-driven demand, with customers actively expanding capacity into 2027 and beyond.
- ASML plans to sustain capacity growth, targeting at least 60 EUV Low NA systems in 2026 and up to 80 units in 2027, alongside capacity enhancements in deep UV and immersion lithography.
- Technological progress includes demonstration of 1,000-watt EUV sources and throughput improvements, ensuring extendibility and capacity ramp-up through 2028+ amid advancing High NA platform development.
Q3 2025
Oct 16, 2025
ASML Holding N.V. reported strong Q3 2025 results, with net sales of €7.5 billion and net income of €2.1 billion, bolstered by ongoing demand for advanced semiconductor technologies.
Key takeaways
- Q3 net sales included €2 billion in installed base revenue and one High NA system recognition.
- Gross margin for the quarter was 51.6%, in line with company guidance.
- Net bookings for the quarter were €5.4 billion, with €3.6 billion attributed to extreme ultraviolet (EUV) systems.
- Q4 revenue guidance is projected between €9.2 billion and €9.8 billion, anticipating strong seasonal demand.
- ASML's partnership with Mistral AI, including an 11% equity stake, aims to enhance software capabilities and accelerate product development.