ASML demonstrated strong financial results in Q2 2025 with significant growth in EUV revenue and a robust order book. However, the company faces uncertainties due to geopolitical and macroeconomic challenges, particularly concerning tariffs, which may affect future growth. Revenue dependency on China is increasing, and there are gross margin challenges projected for the latter half of the year.

Company Guidance

During the ASML 2025 Second Quarter Financial Results Conference Call, the company reported total net sales of EUR 7.7 billion, surpassing their guidance due to strong revenue recognition from one High NA system and additional upgrade business. Net system sales were EUR 5.6 billion, with EUR 2.7 billion from EUV sales and EUR 2.9 billion from non-EUV sales. The logic segment accounted for 69% of system sales, while memory contributed 31%. Installed Base Management sales exceeded expectations at EUR 2.1 billion. The gross margin was reported at 53.7%, above guidance, attributed to increased upgrade business and lower costs. Operating expenses were in line with projections, with R&D at EUR 1.2 billion and SG&A at EUR 299 million. The effective tax rate for the quarter was 18.1%, with an anticipated annual rate of approximately 17% for 2025. Net income was EUR 2.3 billion, representing 29.8% of total net sales, equating to earnings per share of EUR 5.90. As of the end of the quarter, ASML had EUR 7.2 billion in cash, cash equivalents, and short-term investments. The order book showed net system bookings of EUR 5.5 billion, with Logic accounting for 84% and Memory 16%. ASML's backlog was approximately EUR 33 billion, reflecting a EUR 1.4 billion adjustment due to customer responses. The company also declared a quarterly interim dividend of EUR 1.60 per share, payable on August 6, 2025, and repurchased shares totaling EUR 1.4 billion during the quarter.

Strong Financial Performance

ASML's net sales for Q2 2025 were EUR 7.7 billion, at the upper end of guidance, with a gross margin above guidance at 53.7%.

EUV Revenue Growth

EUV revenue is expected to grow by around 30% in 2025 versus 2024, driven by increased demand from AI and advanced DRAM nodes.

Increase in Installed Base Management Sales

Sales in Installed Base Management exceeded guidance at EUR 2.1 billion, with a growth expectation of more than 20% over last year.

Strong Order Book

Q2 net system bookings were EUR 5.5 billion, with a backlog of around EUR 33 billion.

ASML Holding (DE:ASMF) Earnings, Revenues Date & History

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DE:ASMF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 15, 2025	2025 (Q3)	5.44 / -	4.911	―	―	―
Jul 16, 2025	2025 (Q2)	5.20 / 5.84	3.74	56.07% (+2.10)
Apr 16, 2025	2025 (Q1)	5.26 / 5.83	2.822	106.47% (+3.00)
Jan 29, 2025	2024 (Q4)	6.00 / 6.09	4.846	25.67% (+1.24)
Oct 15, 2024	2024 (Q3)	4.56 / 4.91	4.324	13.57% (+0.59)
Jul 17, 2024	2024 (Q2)	3.44 / 3.74	4.707	-20.54% (-0.97)
Apr 17, 2024	2024 (Q1)	2.69 / 2.82	4.637	-39.14% (-1.81)
Jan 24, 2024	2023 (Q4)	4.41 / 4.85	4.278	13.26% (+0.57)
Oct 18, 2023	2023 (Q3)	4.20 / 4.32	3.583	20.69% (+0.74)
Jul 19, 2023	2023 (Q2)	4.37 / 4.71	3.084	52.61% (+1.62)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:ASMF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 16, 2025	€710.47	€626.65	-11.80%
Apr 16, 2025	€599.10	€557.30	-6.98%
Jan 29, 2025	€645.71	€675.51	+4.62%
Oct 15, 2024	€795.14	€664.27	-16.46%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.