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ASML

ASML Q4 2025 Earnings

Reported Jan 28, 2026 at 6:03 AM ET · SEC Source

Q4 25 EPS

$8.53

MISS 0.87%

Est. $8.60

Q4 25 Revenue

$11.29B

vs S&P Since Q4 25

-2.8%

TRAILING MARKET

ASML +0.8% vs S&P +3.6%

Full Year 2025 Results

FY 25 EPS

$28.70

BEAT +15.31%

Est. $24.89

FY 25 Revenue

$37.94B

BEAT +16.81%

Est. $32.48B

Market Reaction

Did ASML Beat Earnings? Q4 2025 Results

ASML closed out a record-setting fiscal year with a mixed but ultimately compelling Q4 2025 report, posting earnings per share of $8.53 against a consensus of $8.60, a narrow miss of 0.87%, while revenue of $11.29 billion ran 18.41% above the $9.53 b… Read more ASML closed out a record-setting fiscal year with a mixed but ultimately compelling Q4 2025 report, posting earnings per share of $8.53 against a consensus of $8.60, a narrow miss of 0.87%, while revenue of $11.29 billion ran 18.41% above the $9.53 billion estimate and grew 4.9% year over year. The revenue outperformance was fueled by recognition of two High NA EXE systems alongside robust EUV demand, capping a full year in which ASML recorded $37.94 billion in total net sales and $11.16 billion in net income at a 52.8% gross margin. Perhaps more telling than the quarterly figures was the surge in new bookings, with Q4 net orders reaching $15.28 billion, $8.60 billion of which was EUV, lifting the year-end backlog to $45.06 billion as AI-driven capacity expansion prompted customers to materially upgrade their medium-term outlooks. Management guided Q1 2026 revenue between $9.52 billion and $10.34 billion, with full-year 2026 expected between $39.49 billion and $45.30 billion at stable gross margins of 51% to 53%.

Key Takeaways

  • • Record Q4 net sales including revenue recognition for two High NA systems
  • • EUV system sales increased 39% year-over-year to €11.6 billion in FY 2025
  • • Installed Base Management sales increased 26% to €8.2 billion driven by higher service and upgrade business
  • • Record Q4 net bookings of €13.2 billion reflecting customers' more positive medium-term outlook
  • • AI-related demand sustainability driving customer capacity expansion plans
24/7 Wall St

ASML YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

ASML Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“ASML reported another record year in 2025, with total net sales of €32.7 billion and a gross margin of 52.8%. The fourth quarter was particularly strong: we reported record total net sales of €9.7 billion, including the revenue recognized for two High NA systems. Our gross margin for Q4 was in line with our guidance at 52.2%.”

— Christophe Fouquet, Q4 2025 Earnings Press Release

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