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US equity markets/AI Value chain/ASML

ASML

ASML·NASDAQ·USD

1,590.90+19.10 (+1.22%)

Regular-session close2026-10-26Last available data·Definitions

Equipment sales and installed-base upgrades jointly determine revenue conversionBusiness mechanism

Price history1995-03-15 — 2026-10-23Valid trading days: 7,956 · Available range · History update delayed

Operating history2016-12-31 — 2026-09-2725 historical metrics · 15 workpaper periods

Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The history starts with the provider’s first actual observation; this starting point is not a verified initial listing date.

The earliest available price is not proof of the listing date. Coverage since listing remains unverified.

Security basis: The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

Original verification records

first-provider-observation-listing-date-not-verified

History update reason: source-rate-limited-until 2026-10-27T04:21:45.657Z

Current ticker/issuer checked across available sources. Earlier issuer continuity and first listing date are not independently established; provider first observation is not an IPO claim.

View sources and versions ↗

Public financial analysis · Annual

Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.

Coverage and applicability

2016-12-31 — 2025-12-31 · Valid observations: 125. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.

Cash purchases of productive assets / revenue: The selected capital-expenditure measure does not represent the broader concept of productive-asset purchases.

Price and operations

Research history

Reproducible calculations from public filings, without inferring segment-level results.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

2026-10-23Last value in range

Time rangeASML Share price

2021-10-23 — 2026-10-23

Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Dense daily plots retain the first, last, highest and lowest observations in each pixel interval. The cursor, data table, CSV and statistics still use all original values. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Some daily market or calendar coverage is unverified. Only consecutive calendar dates are connected; gaps between dates are not assumed to be complete. Annual observations retain annual frequency; guidance and scenarios are labeled separately. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Underlying data Operating metrics: 4

Observations in this chart, including unverified periods or dates · original values and source versions retained

Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period end	Gross margin% · Calculated from disclosures	Operating margin% · Calculated from disclosures	Net margin% · Calculated from disclosures	(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
2025-12-312025-12-31	52.83% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR grossProfit 17,258,000,000 Revenue 32,667,300,000 Input source document 0 role numerator Original XBRL field us-gaap:GrossProfit Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 17,258,000,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 32,667,300,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	34.60% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR operatingIncome 11,301,400,000 Revenue 32,667,300,000 Input source document 0 role numerator Original XBRL field us-gaap:OperatingIncomeLoss Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 11,301,400,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 32,667,300,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	29.42% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR Net income 9,609,400,000 Revenue 32,667,300,000 Input source document 0 role numerator Original XBRL field us-gaap:NetIncomeLoss Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 9,609,400,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 32,667,300,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	33.93% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 5 items Currency EUR Operating cash flow 12,658,500,000 Cash capital expenditure 1,573,600,000 Revenue 32,667,300,000 Input source document 0 role numerator Original XBRL field us-gaap:NetCashProvidedByUsedInOperatingActivities Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 12,658,500,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role numerator Original XBRL field us-gaap:PaymentsToAcquirePropertyPlantAndEquipment Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 1,573,600,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign -1 sourceIds 0 asml-sec-0001628280-26-011378 2 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2025-01-01 Period end 2025-12-31 value 32,667,300,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25
2024-12-312024-12-31	51.28% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR grossProfit 14,492,000,000 Revenue 28,262,900,000 Input source document 0 role numerator Original XBRL field us-gaap:GrossProfit Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 14,492,000,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 28,262,900,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	31.92% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR operatingIncome 9,022,600,000 Revenue 28,262,900,000 Input source document 0 role numerator Original XBRL field us-gaap:OperatingIncomeLoss Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 9,022,600,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 28,262,900,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	26.79% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR Net income 7,571,600,000 Revenue 28,262,900,000 Input source document 0 role numerator Original XBRL field us-gaap:NetIncomeLoss Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 7,571,600,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 28,262,900,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	32.19% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 5 items Currency EUR Operating cash flow 11,166,200,000 Cash capital expenditure 2,067,200,000 Revenue 28,262,900,000 Input source document 0 role numerator Original XBRL field us-gaap:NetCashProvidedByUsedInOperatingActivities Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 11,166,200,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role numerator Original XBRL field us-gaap:PaymentsToAcquirePropertyPlantAndEquipment Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 2,067,200,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign -1 sourceIds 0 asml-sec-0001628280-26-011378 2 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2024-01-01 Period end 2024-12-31 value 28,262,900,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25
2023-12-312023-12-31	51.29% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR grossProfit 14,136,100,000 Revenue 27,558,500,000 Input source document 0 role numerator Original XBRL field us-gaap:GrossProfit Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 14,136,100,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 27,558,500,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	32.81% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR operatingIncome 9,042,300,000 Revenue 27,558,500,000 Input source document 0 role numerator Original XBRL field us-gaap:OperatingIncomeLoss Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 9,042,300,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 27,558,500,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	28.44% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 4 items Currency EUR Net income 7,839,000,000 Revenue 27,558,500,000 Input source document 0 role numerator Original XBRL field us-gaap:NetIncomeLoss Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 7,839,000,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 27,558,500,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25	11.93% Basis · Calculated from disclosures Source version date: 2026-02-25 View calculation inputs · 5 items Currency EUR Operating cash flow 5,443,400,000 Cash capital expenditure 2,155,600,000 Revenue 27,558,500,000 Input source document 0 role numerator Original XBRL field us-gaap:NetCashProvidedByUsedInOperatingActivities Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 5,443,400,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 1 role numerator Original XBRL field us-gaap:PaymentsToAcquirePropertyPlantAndEquipment Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 2,155,600,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign -1 sourceIds 0 asml-sec-0001628280-26-011378 2 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2023-01-01 Period end 2023-12-31 value 27,558,500,000 Filing date 2026-02-25 form 20-F accn 0001628280-26-011378 Input sign 1 sourceIds 0 asml-sec-0001628280-26-011378 ASML · 20-F · Filing version 2026-02-25
2022-12-312022-12-31	50.54% Basis · Calculated from disclosures Source version date: 2025-03-05 View calculation inputs · 4 items Currency EUR grossProfit 10,700,100,000 Revenue 21,173,400,000 Input source document 0 role numerator Original XBRL field us-gaap:GrossProfit Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 10,700,100,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 21,173,400,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 ASML · 20-F · Filing version 2025-03-05	30.70% Basis · Calculated from disclosures Source version date: 2025-03-05 View calculation inputs · 4 items Currency EUR operatingIncome 6,500,700,000 Revenue 21,173,400,000 Input source document 0 role numerator Original XBRL field us-gaap:OperatingIncomeLoss Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 6,500,700,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 21,173,400,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 ASML · 20-F · Filing version 2025-03-05	26.56% Basis · Calculated from disclosures Source version date: 2025-03-05 View calculation inputs · 4 items Currency EUR Net income 5,624,200,000 Revenue 21,173,400,000 Input source document 0 role numerator Original XBRL field us-gaap:NetIncomeLoss Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 5,624,200,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 21,173,400,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 ASML · 20-F · Filing version 2025-03-05	34.03% Basis · Calculated from disclosures Source version date: 2025-03-05 View calculation inputs · 5 items Currency EUR Operating cash flow 8,486,800,000 Cash capital expenditure 1,281,800,000 Revenue 21,173,400,000 Input source document 0 role numerator Original XBRL field us-gaap:NetCashProvidedByUsedInOperatingActivities Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 8,486,800,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 1 role numerator Original XBRL field us-gaap:PaymentsToAcquirePropertyPlantAndEquipment Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 1,281,800,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign -1 sourceIds 0 asml-sec-0000937966-25-000009 2 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2022-01-01 Period end 2022-12-31 value 21,173,400,000 Filing date 2025-03-05 form 20-F accn 0000937966-25-000009 Input sign 1 sourceIds 0 asml-sec-0000937966-25-000009 ASML · 20-F · Filing version 2025-03-05
2021-12-312021-12-31	52.71% Basis · Calculated from disclosures Source version date: 2024-02-14 View calculation inputs · 4 items Currency EUR grossProfit 9,809,000,000 Revenue 18,611,000,000 Input source document 0 role numerator Original XBRL field us-gaap:GrossProfit Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 9,809,000,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 18,611,000,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 ASML · 20-F · Filing version 2024-02-14	36.27% Basis · Calculated from disclosures Source version date: 2024-02-14 View calculation inputs · 4 items Currency EUR operatingIncome 6,750,100,000 Revenue 18,611,000,000 Input source document 0 role numerator Original XBRL field us-gaap:OperatingIncomeLoss Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 6,750,100,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 18,611,000,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 ASML · 20-F · Filing version 2024-02-14	31.61% Basis · Calculated from disclosures Source version date: 2024-02-14 View calculation inputs · 4 items Currency EUR Net income 5,883,200,000 Revenue 18,611,000,000 Input source document 0 role numerator Original XBRL field us-gaap:NetIncomeLoss Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 5,883,200,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 1 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 18,611,000,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 ASML · 20-F · Filing version 2024-02-14	53.44% Basis · Calculated from disclosures Source version date: 2024-02-14 View calculation inputs · 5 items Currency EUR Operating cash flow 10,845,800,000 Cash capital expenditure 900,700,000 Revenue 18,611,000,000 Input source document 0 role numerator Original XBRL field us-gaap:NetCashProvidedByUsedInOperatingActivities Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 10,845,800,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 1 role numerator Original XBRL field us-gaap:PaymentsToAcquirePropertyPlantAndEquipment Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 900,700,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign -1 sourceIds 0 asml-sec-0000937966-24-000008 2 role denominator Original XBRL field us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax Original unit EUR Period start 2021-01-01 Period end 2021-12-31 value 18,611,000,000 Filing date 2024-02-14 form 20-F accn 0000937966-24-000008 Input sign 1 sourceIds 0 asml-sec-0000937966-24-000008 ASML · 20-F · Filing version 2024-02-14

Calculations and sources 4 items

Gross margin% · Calculated from disclosures

Calculation basis

Gross profit / revenue × 100

Reading guide

Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Supporting sources

ASML · 20-F · Filing version 2019-02-06 ASML · 20-F · Filing version 2020-02-12 ASML · 20-F · Filing version 2021-02-10 ASML · 20-F · Filing version 2022-02-09 ASML · 20-F · Filing version 2023-02-15 ASML · 20-F · Filing version 2024-02-14 ASML · 20-F · Filing version 2025-03-05 ASML · 20-F · Filing version 2026-02-25

Operating margin% · Calculated from disclosures

Calculation basis

Operating income / revenue × 100

Reading guide

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Supporting sources

Net margin% · Calculated from disclosures

Calculation basis

Selected net-income concept / revenue × 100

Reading guide

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Supporting sources

(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures

Calculation basis

(Operating cash flow − cash purchases of PP&E) / revenue × 100

Reading guide

A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Supporting sources

Business and operating model

Where revenue comes from and which operating changes still require verification.

Company filings ↗

ASML provides equipment, software and services for semiconductor patterning. New system sales, installed-base upgrades and services all contribute revenue. Forecast customer demand still requires supply and acceptance before it becomes actual sales. [1]

Primary company business materials are availableSources as of 2026-10-14Check supporting sources ↗

How revenue, profit and capital connect
Operating mechanism	How operating results are affected	Verifiable metrics
Equipment sales → revenue recognition → gross margin	Read system sales units alongside revenue. Values differ substantially by model; total revenue divided by total units is not a uniform equipment selling price. [1]	New lithography systems sold Service and field-upgrade revenue Quarterly gross margin Analyze alongside the share price ↗
Installed-base upgrades → capacity efficiency → service revenue	Customers can improve productivity through upgrades. This generates service and upgrade revenue and can also affect the timing of demand for new equipment. [1]	Service and field-upgrade revenue Analyze alongside the share price ↗
Demand forecasts → supply chain expansion → actual deliveries	Management's assessment of future supply and demand is forward-looking. Expressions of demand, backlog, equipment deliveries and recognized revenue are recorded separately. [1]	New lithography systems sold Analyze alongside the share price ↗

Products, paying customers and use cases

Products and services

New lithography systems: Use actual systems sold to track deliveries. The unit count is not limited to EUV products and does not equal production in the quarter. [1]
Installed Base Management: Includes services and field upgrade options. These must be separated from new equipment sales to explain changes in revenue and gross margin mix. [1]

How supply, demand and capital affect the company

Upstream

Carl Zeiss SMT GmbH Supply

Related-party optics supply · ASML purchases EUR 4.41bn in 2025 (EUR 3.95bn in 2024) · EUR 1.19bn advance payments · EUR 1.09bn payables · Original-currency amounts retained; no USD conversion shown because a reproducible conversion basis was not established [4]

Signed or existing

Downstream

Anonymous customers · ASML (chipmakers, each >10% of FY2025 net sales) Customer

Four customers each >10% of net sales · EUR 20.0bn combined · 61.2% of FY2025 net sales · Original-currency amounts retained; no USD conversion shown because a reproducible conversion basis was not established [5]

Signed or existing

Uses of funds

Mistral AI Capital and financing

Lead investor in Mistral AI Series C · EUR 1.3bn · 11.1% fully-diluted stake at 2025-12-31 · Original-currency amounts retained; no USD conversion shown because a reproducible conversion basis was not established [2]

Signed or existing

Uses of funds

Carl Zeiss SMT GmbH Capital and financing

24.90% ownership · EUR 1.91bn loans receivable at 2025-12-31 (prior year EUR 1.44bn) · 2021/2024/2025 loan agreements capped at EUR 1bn each · Original-currency amounts retained; no USD conversion shown because a reproducible conversion basis was not established [3]

Signed or existing

Verify entities, agreements and primary sources in the relationship map ↗

Company profile and filings

Legal name: ASML HOLDING NV
Exchange / quote currency: NASDAQ / USD
Reporting currency: EUR
Source industry classification: Industrial Machinery/Components
Financial period end / Source version used: 2025-12-31 / 2026-02-25
Value-chain roles (not revenue shares): Semiconductor equipment and materials

Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.

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Operating observations and counterevidence

Continue checking facts that could change the conclusions; no hypothetical thresholds are assigned to observations without reliable inputs.

Evidence and gaps ↗

Validate new systems and installed-base services separately

Compare system units, service and upgrade revenue, and gross margin. Quarterly orders that the company no longer provides are not reverse-engineered from other figures. [1]

New lithography systems sold Service and field-upgrade revenue Quarterly gross margin Analyze alongside the share price ↗

What evidence would weaken these conclusions?

Can demand visibility translate into deliveries?
If forecasts of customer demand rise without corresponding actual system sales, service and upgrade revenue, or total revenue, check supply constraints, acceptance schedules and order delays. Demand statements alone do not establish price implications. [1]
New lithography systems sold Service and field-upgrade revenue Analyze alongside the share price ↗

Conclusions not yet supported

Can model mix, order conversion and capacity expansion be verified over time?: Model-level sales and annual order information are needed. Future capacity expansion targets are not treated as realized production. [1]

MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

1,590.90 +1.22%

2026-07-23 — 2026-10-23Price change over the selected period -12.82%

Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 7956 / trading dates: 7956Market data source

Compare company

MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close: 1,571.80
Session open: 1,588.02
Session range: 1,582.88 – 1,612.00
Session volume: 1.95 M
20 Average daily volume: 1.52 M
Historical range: 2.37 – 1,999.96

Valuation and cash

Market cap · USD: 613.16 B
Price / sales · Annual: Not applicable
Free cash flow yield: Not applicable

Financial denominator

Revenue · Annual: 32.67 B EUR
Period end: 2025-12-31
Source version: 2026-02-25

Quote 2026-10-26Market cap retrieved 2026-10-27Financial period end 2025-12-31

Quote currency: USD; financial reporting currency: EUR. Cross-currency valuation is not calculated without a verified applicable exchange rate and security/ADR basis.

Research archiveNo standalone articles or full reports for this company have been included yet

Public financial and operating analysis is available. Standalone research has not yet been published; exploreOperating data、Financial comparison and SourceSource document。

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Annual · As of 2025-12-31Source version used 2026-02-25 · Original currency EUR

Current periodCompareEUR · Annual

Current period 2025-01-01 — 2025-12-31Comparison period 2024-01-01 — 2024-12-31

Financial comparison of two defined periods; expand values for source records
Line item	Current period	Comparison period	Amount change	Growth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive	32.67 B Raw value 32,667,300,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	28.26 B Raw value 28,262,900,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	+4.40 B	+15.58%
Gross profitGross margin 52.83% · Change +1.55 percentage points	17.26 B Raw value 17,258,000,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	14.49 B Raw value 14,492,000,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	+2.77 B	+19.09%
Operating incomeOperating margin 34.60% · Change +2.67 percentage points	11.30 B Raw value 11,301,400,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	9.02 B Raw value 9,022,600,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	+2.28 B	+25.26%
Net incomeNet margin 29.42% · Change +2.63 percentage points	9.61 B Raw value 9,609,400,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	7.57 B Raw value 7,571,600,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	+2.04 B	+26.91%
Operating cash flowOperating cash flow / revenue 38.75% · Change -0.76 percentage points	12.66 B Raw value 12,658,500,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	11.17 B Raw value 11,166,200,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	+1.49 B	+13.36%
Capital expenditureCapital expenditure / revenue 4.82% · Change -2.50 percentage points	1.57 B Raw value 1,573,600,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗	2.07 B Raw value 2,067,200,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	-493.60 M	-23.88%

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials

Comparable-period financial trends

2025-12-31Last value in range

Time rangeRevenue

2016-12-31 — 2025-12-31

Methodology and controls

Series with the same unit and frequency share a value axis. Annual observations retain annual frequency; guidance and scenarios are labeled separately. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Annual financials, EUR. Records without verified periods or units are excluded from comparison columns.
Reporting period end · EUR	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Revenue	6.88 B Raw value 6,875,100,000.00 EUR 2016-01-01 — 2016-12-31 · EUR · Reported data Original filing ↗	8.96 B Raw value 8,962,700,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	10.94 B Raw value 10,944,000,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	11.82 B Raw value 11,820,000,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	13.98 B Raw value 13,978,500,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	18.61 B Raw value 18,611,000,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	21.17 B Raw value 21,173,400,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	27.56 B Raw value 27,558,500,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	28.26 B Raw value 28,262,900,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	32.67 B Raw value 32,667,300,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗
Gross profit	3.15 B Raw value 3,145,300,000.00 EUR 2016-01-01 — 2016-12-31 · EUR · Reported data Original filing ↗	4.02 B Raw value 4,020,200,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	5.03 B Raw value 5,029,200,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	5.28 B Raw value 5,279,800,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	6.80 B Raw value 6,797,200,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	9.81 B Raw value 9,809,000,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	10.70 B Raw value 10,700,100,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	14.14 B Raw value 14,136,100,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	14.49 B Raw value 14,492,000,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	17.26 B Raw value 17,258,000,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗
Operating income	1.76 B Raw value 1,758,500,000.00 EUR 2016-01-01 — 2016-12-31 · EUR · Reported data Original filing ↗	2.44 B Raw value 2,439,700,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	2.97 B Raw value 2,965,300,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	2.79 B Raw value 2,790,800,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	4.05 B Raw value 4,051,500,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	6.75 B Raw value 6,750,100,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	6.50 B Raw value 6,500,700,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	9.04 B Raw value 9,042,300,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	9.02 B Raw value 9,022,600,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	11.30 B Raw value 11,301,400,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗
Net income	1.56 B Raw value 1,557,800,000.00 EUR 2016-01-01 — 2016-12-31 · EUR · Reported data Original filing ↗	2.07 B Raw value 2,066,700,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	2.59 B Raw value 2,591,600,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	2.59 B Raw value 2,592,300,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	3.55 B Raw value 3,553,700,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	5.88 B Raw value 5,883,200,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	5.62 B Raw value 5,624,200,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	7.84 B Raw value 7,839,000,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	7.57 B Raw value 7,571,600,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	9.61 B Raw value 9,609,400,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗
Operating cash flow	—	1.82 B Raw value 1,818,300,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	3.07 B Raw value 3,072,700,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	3.28 B Raw value 3,276,400,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	4.63 B Raw value 4,627,600,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	10.85 B Raw value 10,845,800,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	8.49 B Raw value 8,486,800,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	5.44 B Raw value 5,443,400,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	11.17 B Raw value 11,166,200,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	12.66 B Raw value 12,658,500,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗
Capital expenditure	316.30 M Raw value 316,300,000.00 EUR 2016-01-01 — 2016-12-31 · EUR · Reported data Original filing ↗	338.90 M Raw value 338,900,000.00 EUR 2017-01-01 — 2017-12-31 · EUR · Reported data Original filing ↗	574.00 M Raw value 574,000,000.00 EUR 2018-01-01 — 2018-12-31 · EUR · Reported data Original filing ↗	766.60 M Raw value 766,600,000.00 EUR 2019-01-01 — 2019-12-31 · EUR · Reported data Original filing ↗	962.00 M Raw value 962,000,000.00 EUR 2020-01-01 — 2020-12-31 · EUR · Reported data Original filing ↗	900.70 M Raw value 900,700,000.00 EUR 2021-01-01 — 2021-12-31 · EUR · Reported data Original filing ↗	1.28 B Raw value 1,281,800,000.00 EUR 2022-01-01 — 2022-12-31 · EUR · Reported data Original filing ↗	2.16 B Raw value 2,155,600,000.00 EUR 2023-01-01 — 2023-12-31 · EUR · Reported data Original filing ↗	2.07 B Raw value 2,067,200,000.00 EUR 2024-01-01 — 2024-12-31 · EUR · Reported data Original filing ↗	1.57 B Raw value 1,573,600,000.00 EUR 2025-01-01 — 2025-12-31 · EUR · Reported data Original filing ↗

Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗

2026-02-25Disclosed events

Carl Zeiss SMT GmbH · Capital and financing

2026-02-25Disclosed events

Carl Zeiss SMT GmbH · Supply

2026-02-25Disclosed events

Anonymous customers · ASML (chipmakers, each >10% of FY2025 net sales) · Customer

2025-09-09Disclosed events

Mistral AI · Capital and financing

Included financial source versions

2026-02-25
20-F Original financial filings ↗
This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.
2025-03-05
20-F Original financial filings ↗
This page cites periods ending through 2022-12-31.
2024-02-14
20-F Original financial filings ↗
This page cites periods ending through 2021-12-31.
2023-02-15
20-F Original financial filings ↗
This page cites periods ending through 2020-12-31.
2022-02-09
20-F Original financial filings ↗
This page cites periods ending through 2019-12-31.
2021-02-10
20-F Original financial filings ↗
This page cites periods ending through 2018-12-31.

Showing the latest 6 recorded source versions. Find the remaining 11 in Source values in the full financial table.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Company in focus

Direct relationships: 4 · Excluded by current filters: 3

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Relationship records

4 records

Status / record date	Recorded amount	Capacity basis	Evidence source
Signed / existing2026-02-25	No reproducible USD conversion basis has been verified; no USD-equivalent amount is shownNominal debt / financing amount	Not structured	A · Original filingCheck public source ↗
Signed / existing2026-02-25	No reproducible USD conversion basis has been verified; no USD-equivalent amount is shownAmount classification not yet structured	Not structured	A · Original filingCheck public source ↗
Signed / existing2026-02-25	No reproducible USD conversion basis has been verified; no USD-equivalent amount is shownAmount classification not yet structured	Not structured	A · Original filingCheck public source ↗
Signed / existing2025-09-09	No reproducible USD conversion basis has been verified; no USD-equivalent amount is shownAmount classification not yet structured	Not structured	A · Original filingCheck public source ↗

1–4 / 4 records

Capital deployed · Debt and financing arrangement

ASML Carl Zeiss SMT

Signed / existing2026-02-25A · Original filing

Check public source ↗

What this relationship establishes

24.90% ownership

Relationship type: Debt and financing arrangement
Recorded as signed or existing; performance progress requires separate verification
Amount basis: Nominal debt / financing amount
No reproducible USD conversion basis has been verified; no USD-equivalent amount is shown
Facility limits, issuance proceeds, actual drawdowns and closing debt balances are different measures. Present interest, scheduled principal repayments, maturity balloon payments and distribution restrictions separately.
Attribution: Applies to this relationship; the original document determines the specific legal entities and attribution.
Concentration: A relationship amount and company denominator with matching periods and definitions are not provided
Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

A · Original filing

ASML 20-F (2026-02-25)

Capital investment and conditions for returns

The excerpts below come from this record. Verify signed status separately from actual completion.

This record does not specify performance milestones, payment arrangements or termination provisions.

Limitations in the original record

Three loan agreements, dated 2021, 2024 and 2025, each capped at €1bn

Inputs still needed to quantify the impact

Actual drawdowns, interest rates and the principal repayment schedule
Collateral, guarantees and restrictions on distributions
Cash attribution after debt service and refinancing terms

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

Financing terms
ASML → Carl Zeiss SMT: verify the debt amount, collateral and guarantees, and conditions precedent to drawing funds.
Drawdowns and debt service
Separate committed facilities, actual drawdowns, interest and scheduled principal amortization, presenting each by financing entity and period.
Financial outcomes
Track net debt, debt service coverage and covenants; project borrowings cannot automatically be treated as cash available to the parent company.
Testing price implications
Deduct interest, principal amortization and restricted funds from project cash before assessing cash attributable to shareholders and refinancing needs.

Cross-check relationship events against subsequent disclosures of company revenue, costs, working capital and cash flows; movements in the same direction alone do not establish causation.

Other records for the same counterparty

Review procurement, customer and capital relationships separately. The same cooperation may appear in multiple records; the amounts are not automatically additive.

Relationship type	Status / date	Evidence source
	Signed / existing2026-02-25	A · Original filing

Operating data to test the relationship

ASML · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Investment and funding needs

How much cash is required for construction and procurement before delivery?

Compare prepayments, cash capital expenditure and commissioning plans. Current-period revenue is not a substitute for a full investment-recovery calculation.

Operating metric	Latest value	Definition and boundaries
Cash purchases of PP&E / revenue ↗2025-12-31 · Research calculation	4.82%	Definition and boundaries Cash purchases of PP&E / revenue × 100 Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Show remaining company metrics (24)

Other operating observations

What verifiable information does this metric provide about this relationship?

Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.

Operating metric	Latest value	Definition and boundaries
Revenue growth YoY ↗2025-12-31 · Research calculation	15.58%	Definition and boundaries (Current-period revenue / comparable prior-year revenue − 1) × 100 Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Operating cash flow / net income ↗2025-12-31 · Research calculation	1.32 x	Definition and boundaries Operating cash flow / net income（Net income > 0） Examines cash conversion when earnings are positive. No multiple is calculated when net income is non-positive; taxes, non-cash charges and working capital can all cause divergence. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
(Net income − operating cash flow) / revenue ↗2025-12-31 · Research calculation	-9.33%	Definition and boundaries (Net income − operating cash flow) / revenue × 100 The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Days sales outstanding (average balance) ↗2025-12-31 · Research calculation	41.9 days	Definition and boundaries (Opening net receivables + closing net receivables) / 2 / revenue × actual days in the period A company-wide proxy for manufacturing and hardware businesses using average opening and closing balances. It is not the payment term in customer contracts. Comparison is with the corresponding prior-year period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Days inventory outstanding (average balance) ↗2025-12-31 · Research calculation	264.36 days	Definition and boundaries (Opening inventory + closing inventory) / 2 / (revenue − gross profit) × actual days in the period Costs are reconstructed as revenue less reported gross profit for the same period and currency. Inventory mix and impairments can affect the result; it does not establish demand on its own. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Days payable outstanding (average balance) ↗2025-12-31 · Research calculation	83.17 days	Definition and boundaries (Opening accounts payable + closing accounts payable) / 2 / (revenue − gross profit) × actual days in the period Cost of revenue is used as a proxy for purchases and may include non-purchasing costs. This is not a supplier payment term and does not separate supplier financing. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Cash conversion cycle (average balances) ↗2025-12-31 · Research calculation	223.09 days	Definition and boundaries Average-balance DSO + DIO − DPO Calculated only when all three balances, revenue and costs are available. This company-wide turnover proxy does not replace analysis of contract assets, customer prepayments or supplier financing. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Quarterly gross profit (EUR) ↗2026Q3 · Reported data	6,699.8 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Quarterly operating income (EUR) ↗2026Q3 · Reported data	5,172.8 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Quarterly net income (EUR) ↗2026Q3 · Reported data	4,960.4 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Total lithography systems sold (including used systems) ↗2026Q3 · Reported data	121 units	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
New lithography systems sold ↗2026Q3 · Reported data	113 units	Definition and boundaries Directly reported in the source document New equipment only. Actual quarter-end dates come from the financial exhibit in the same 6-K; total system counts are not treated as counts of new systems.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.

Operating metric	Latest value	Definition and boundaries
Gross margin ↗2025-12-31 · Research calculation	52.83%	Definition and boundaries Gross profit / revenue × 100 Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Operating margin ↗2025-12-31 · Research calculation	34.6%	Definition and boundaries Operating income / revenue × 100 Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Net margin ↗2025-12-31 · Research calculation	29.42%	Definition and boundaries Selected net-income concept / revenue × 100 May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Operating cash flow / revenue ↗2025-12-31 · Research calculation	38.75%	Definition and boundaries Operating cash flow / revenue × 100 Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
(CFO − cash purchases of PP&E) / revenue ↗2025-12-31 · Research calculation	33.93%	Definition and boundaries (Operating cash flow − cash purchases of PP&E) / revenue × 100 A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Quarterly gross margin ↗2026Q3 · Research calculation	57.45%	Definition and boundaries (Quarterly gross profit (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.
Quarterly operating margin ↗2026Q3 · Research calculation	44.36%	Definition and boundaries (Quarterly operating income (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.
Quarterly net margin ↗2026Q3 · Research calculation	42.53%	Definition and boundaries (Quarterly net income (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.

Revenue realization

Has relationship expansion converted into recognizable business revenue?

Reconcile by business and financial period. Total company revenue does not establish the selected customer's individual contribution.

Operating metric	Latest value	Definition and boundaries
System sales revenue ↗2026Q3 · Reported data	8,373.2 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Service and field-upgrade revenue ↗2026Q3 · Reported data	3,288.8 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Quarterly total revenue (EUR) ↗2026Q3 · Reported data	11,662 EURm	Definition and boundaries Directly reported in the source document The source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.
Service and field-upgrade share of revenue ↗2026Q3 · Research calculation	28.2%	Definition and boundaries (Service and field-upgrade revenue) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.

Related companies in the value chain 21 companies · Semiconductor equipment and materials

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

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Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology

Company25 / 25 items

Operating metric	Latest value	Period / classification	Definition and interpretation boundaries	Analysis
Revenue growth YoY	15.58%	2025-12-31Research calculation	(Current-period revenue / comparable prior-year revenue − 1) × 100Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Gross margin	52.83%	2025-12-31Research calculation	Gross profit / revenue × 100Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Operating margin	34.6%	2025-12-31Research calculation	Operating income / revenue × 100Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Net margin	29.42%	2025-12-31Research calculation	Selected net-income concept / revenue × 100May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Operating cash flow / revenue	38.75%	2025-12-31Research calculation	Operating cash flow / revenue × 100Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
(CFO − cash purchases of PP&E) / revenue	33.93%	2025-12-31Research calculation	(Operating cash flow − cash purchases of PP&E) / revenue × 100A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Operating cash flow / net income	1.32 x	2025-12-31Research calculation	Operating cash flow / net income（Net income > 0）Examines cash conversion when earnings are positive. No multiple is calculated when net income is non-positive; taxes, non-cash charges and working capital can all cause divergence. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Cash purchases of PP&E / revenue	4.82%	2025-12-31Research calculation	Cash purchases of PP&E / revenue × 100Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
(Net income − operating cash flow) / revenue	-9.33%	2025-12-31Research calculation	(Net income − operating cash flow) / revenue × 100The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Days sales outstanding (average balance)	41.9 days	2025-12-31Research calculation	(Opening net receivables + closing net receivables) / 2 / revenue × actual days in the periodA company-wide proxy for manufacturing and hardware businesses using average opening and closing balances. It is not the payment term in customer contracts. Comparison is with the corresponding prior-year period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Days inventory outstanding (average balance)	264.36 days	2025-12-31Research calculation	(Opening inventory + closing inventory) / 2 / (revenue − gross profit) × actual days in the periodCosts are reconstructed as revenue less reported gross profit for the same period and currency. Inventory mix and impairments can affect the result; it does not establish demand on its own. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Days payable outstanding (average balance)	83.17 days	2025-12-31Research calculation	(Opening accounts payable + closing accounts payable) / 2 / (revenue − gross profit) × actual days in the periodCost of revenue is used as a proxy for purchases and may include non-purchasing costs. This is not a supplier payment term and does not separate supplier financing. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
Cash conversion cycle (average balances)	223.09 days	2025-12-31Research calculation	Average-balance DSO + DIO − DPOCalculated only when all three balances, revenue and costs are available. This company-wide turnover proxy does not replace analysis of contract assets, customer prepayments or supplier financing. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.	View full series ↗
System sales revenue	8,373.2 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Service and field-upgrade revenue	3,288.8 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Quarterly total revenue (EUR)	11,662 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Quarterly gross profit (EUR)	6,699.8 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Quarterly operating income (EUR)	5,172.8 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Quarterly net income (EUR)	4,960.4 EURm	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Total lithography systems sold (including used systems)	121 units	2026Q3Reported data	Directly reported in the source documentThe source document reports actual quarter-end dates; start dates remain null when not provided. Total systems sold include new and used equipment. This is neither the number of EUV systems nor production volume.	View full series ↗
Quarterly gross margin	57.45%	2026Q3Research calculation	(Quarterly gross profit (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.	View full series ↗
Quarterly operating margin	44.36%	2026Q3Research calculation	(Quarterly operating income (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.	View full series ↗
Quarterly net margin	42.53%	2026Q3Research calculation	(Quarterly net income (EUR)) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.	View full series ↗
Service and field-upgrade share of revenue	28.2%	2026Q3Research calculation	(Service and field-upgrade revenue) / Quarterly total revenue (EUR) × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document.	View full series ↗
New lithography systems sold	113 units	2026Q3Reported data	Directly reported in the source documentNew equipment only. Actual quarter-end dates come from the financial exhibit in the same 6-K; total system counts are not treated as counts of new systems.	View full series ↗

Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions

Quotes and valuation

2026-10-26 · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-27. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately.

Original verification notes

first-provider-observation-listing-date-not-verified

Current ticker/issuer checked across available sources. Earlier issuer continuity and first listing date are not independently established; provider first observation is not an IPO claim.

Nasdaq Quote source page Price-history source page

Financial statements

Reporting period 2025-12-31; filed 2026-02-25. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

SEC Company filings Raw financial data · JSON

Business evidence

Primary company business sources · Through 2026-10-14

Citations: 5 · Documents: 5

1ASML Q3 2026 Form 6-K earnings exhibitPrimary sources

Exhibit 99.1 summary tables, CEO statement and notes 1–2 · document date 2026-10-14

Revenue is in EUR; the Q4 and 2027–2028 supply-demand assessments are company forward-looking statements.

Open source

2ASML 20-F (2026-02-25)Value-chain archive

ASML 20-F (2026-02-25) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source

3ASML 20-F (2026-02-25)Value-chain archive

ASML 20-F (2026-02-25) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source

4ASML 20-F (2026-02-25)Value-chain archive

ASML 20-F (2026-02-25) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source

5ASML 20-F (2026-02-25)Value-chain archive

ASML 20-F (2026-02-25) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source

Relationships: Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version: 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644