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ASML

ASML Holding N.V.

ASML

ASML Holding N.V. • NASDAQ
$1059.92 ▲ 1.82% (+18.95)
Market Cap $410.83 B
52w High $1086.11
52w Low $578.51
Dividend Yield 6.70%
P/E 37.99
Volume 824.16K
Outstanding Shares 387.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.516B ▼ $1.412B ▲ $2.124B ▼ 28.266% ▼ $5.49 ▼ $2.841B ▼
Q2-2025 $7.692B ▼ $905.8M ▼ $2.676B ▲ 34.793% ▲ $5.71 ▼ $3.65B ▲
Q1-2025 $7.742B ▼ $1.442B ▲ $2.355B ▼ 30.42% ▲ $5.84 ▼ $2.979B ▼
Q4-2024 $9.263B ▲ $1.434B ▲ $2.693B ▲ 29.078% ▲ $7.05 ▲ $3.779B ▲
Q3-2024 $7.467B $1.352B $2.076B 27.808% $5.19 $2.677B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.128B ▼ $45.097B ▲ $26.104B ▼ $18.994B ▲
Q2-2025 $7.263B ▼ $44.939B ▼ $27.285B ▼ $17.653B ▲
Q1-2025 $9.085B ▼ $45.387B ▼ $27.921B ▼ $17.465B ▼
Q4-2024 $12.741B ▲ $48.589B ▲ $30.112B ▲ $18.476B ▲
Q3-2024 $4.98B $41.731B $25.593B $16.138B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.124B ▼ $559.1M ▼ $-1.928B ▼ $-742M ▲ $-2.117B ▼ $263.2M ▼
Q2-2025 $2.676B ▲ $1.346B ▲ $-987.4M ▼ $-2.203B ▲ $-1.855B ▲ $357.7M ▲
Q1-2025 $2.29B ▼ $-56.98M ▼ $-404.206M ▲ $-3.064B ▼ $-3.104B ▼ $-460.505M ▼
Q4-2024 $2.774B ▲ $10.03B ▲ $-1.3B ▼ $-604.461M ▼ $7.369B ▲ $9.286B ▲
Q3-2024 $2.042B $923.535M $-212.102M $-553.272M $356.471M $518.159M

Five-Year Company Overview

Income Statement

Income Statement ASML’s income statement shows a company with strong and durable profitability. Sales have roughly doubled over the last five years, and profits have grown even faster, indicating healthy pricing power and efficient operations. More recently, growth has slowed a bit and net profit dipped slightly despite higher sales, which hints at some cost pressure or mix shifts, but overall margins remain very strong by industry standards.

Balance Sheet

Balance Sheet The balance sheet looks solid and has strengthened over time. Total assets and cash reserves have grown meaningfully, while debt has stayed fairly stable, so the company appears less leveraged than in the past. Equity has increased sharply, reflecting the accumulation of retained earnings and giving ASML a thicker financial cushion to support large R&D programs and manage industry cycles.

Cash Flow

Cash Flow ASML generates substantial cash from its core operations, though the amounts can swing from year to year with the semiconductor cycle and working capital needs. Even after funding rising capital investments, free cash flow remains robust, which provides flexibility for R&D, capacity expansion, and shareholder returns. The recent jump in operating and free cash flow suggests strong underlying demand and better cash conversion compared with the weaker year in the middle of the period.

Competitive Edge

Competitive Edge ASML occupies an exceptional position in the semiconductor equipment landscape, especially as the sole supplier of EUV lithography systems. Its machines are deeply embedded in the production lines of the leading chipmakers, creating high switching costs and long, collaborative relationships. The moat is reinforced by extreme technical complexity, a specialized supply chain, and a lack of realistic alternatives at the cutting edge, though this comes with exposure to industry cycles, export controls, and a concentrated customer base.

Innovation and R&D

Innovation and R&D Innovation is the core of ASML’s identity and moat. The company has spent decades pushing lithography from deep ultraviolet to EUV and now toward High-NA EUV, each step requiring breakthroughs in optics, light sources, software, and process control. Its “holistic lithography” approach—combining hardware, software, metrology, and services—deepens its integration with customers and supports recurring revenue. The main risks are technical execution, timing of customer adoption, and the sheer complexity and cost of the next generation of tools.

Summary

ASML combines dominant technology, strong profitability, and a reinforced balance sheet, making it a critical infrastructure provider for the global chip industry. Financially, it shows high margins and strong cash generation with some normal cyclical variation. Strategically, its near-monopoly in EUV and long-term R&D roadmap give it unusual staying power, but also tie its fortunes to semiconductor demand cycles, geopolitical developments, and continued success in delivering ever more advanced—and ever more complex—systems.

NEWS

November 10, 2025 · 8:00 AM UTC

ASML reports transactions under its current share buyback program

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October 15, 2025 · 1:00 AM UTC

ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025

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October 9, 2025 · 2:00 AM UTC

ASML appoints next Chief Technology Officer

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September 9, 2025 · 1:00 AM UTC

ASML, Mistral AI enter strategic partnership

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