ASML reports EUR32.7 billion total net sales and EUR9.6 billion net income in 2025
ASML expects 2026 total net sales to be between EUR34 billion and EUR39 billion, with a gross margin between 51% and 53%
VELDHOVEN, the Netherlands, January 28, 2026 -- Today, ASML Holding NV $(ASML)$ has published its 2025 fourth-quarter and full-year results.
-- Q4 total net sales of EUR9.7 billion, gross margin of 52.2%, net income
of EUR2.8 billion
-- Quarterly net bookings in Q4 of EUR13.2 billion of which EUR7.4 billion
is EUV
-- 2025 total net sales of EUR32.7 billion, gross margin of 52.8%, net
income of EUR9.6 billion
-- Backlog at the end of 2025 of EUR38.8 billion
-- ASML expects Q1 2026 total net sales between EUR8.2 billion and EUR8.9
billion, and a gross margin between 51% and 53%
-- ASML expects 2026 total net sales to be between EUR34 billion and EUR39
billion, with a gross margin between 51% and 53%
-- ASML announces a new share buyback program of up to EUR12 billion to be
executed by December 31, 2028
-- ASML to strengthen focus on engineering and innovation by streamlining
the Technology and IT organizations
(Figures in millions of
euros unless otherwise
indicated) Q3 2025 Q4 2025 FY 2024 FY 2025
---------------------------- ------- ------- ------- --- ------- ---
Total net sales 7,516 9,718 28,263 32,667
...of which Installed Base
Management sales(1) 1,962 2,134 6,494 8,193
New lithography systems sold
(units) 66 94 380 300
Used lithography systems
sold (units) 6 8 38 27
Net bookings(2) 5,399 13,158 18,899 (3) 28,035 (3)
Backlog(4) 35,938 38,797
Gross profit 3,880 5,068 14,492 17,258
Gross margin (%) 51.6 52.2 51.3 52.8
Net income 2,125 2,840 7,572 9,609
EPS (basic; in euros) 5.49 7.35 19.25 24.73
End-quarter cash and cash
equivalents and short-term
investments 5,128 13,322 12,741 13,322
------- ------- ------- ------- ---
(1) Installed Base Management sales equals our net service and field option sales.
(2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
(3) The sum of quarterly net bookings over the full year.
(4) Backlog contains accumulated sales values for all system sales orders and inflation-related adjustments, for which written authorizations have been accepted, and not yet recorded in total net sales.
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com.
CEO statement and outlook
"ASML reported another record year in 2025, with total net sales of EUR32.7 billion and a gross margin of 52.8%. The fourth quarter was particularly strong: we reported record total net sales of EUR9.7 billion, including the revenue recognized for two High NA systems. Our gross margin for Q4 was in line with our guidance at 52.2%.
"In the last months, many of our customers have shared a notably more positive assessment of the medium-term market situation, primarily based on more robust expectations of the sustainability of AI-related demand. This is reflected in a marked step-up in their medium-term capacity plans and in our record order intake.
"Therefore, we expect 2026 to be another growth year for ASML's business, largely driven by a significant increase in EUV sales and growth in our installed base business sales(1) . We continue to invest in people and footprint to support that growth in 2026 and beyond.
"We expect first-quarter 2026 total net sales between EUR8.2 billion and EUR8.9 billion, with a gross margin between 51% and 53%. We expect R&D costs of around EUR1.2 billion and SG&A costs of around EUR0.3 billion. For the full year 2026, we expect total net sales to be between EUR34 billion and EUR39 billion, with a gross margin between 51% and 53%," said ASML President and Chief Executive Officer Christophe Fouquet.
Update dividend and share buyback program
ASML intends to declare a total dividend for the year 2025 of EUR7.50 per ordinary share, which is a 17% increase compared to 2024. An interim dividend of EUR1.60 per ordinary share will be made payable on February 18, 2026. Recognizing this interim dividend and the two interim dividends of EUR1.60 per ordinary share paid in 2025, this leads to a final dividend proposal to the Annual General Meeting of EUR2.70 per ordinary share.
In the fourth quarter, we purchased around EUR1.7 billion worth of shares under the 2022--2025 share buyback program. This program finished in December 2025, having repurchased a total of EUR7.6 billion out of the up to EUR12 billion program.
ASML announces a new share buyback program, effective today and to be executed by December 31, 2028. We intend to repurchase shares of an amount up to EUR12 billion, of which we expect a total of up to 2 million shares will be used to cover employee share plans. We intend to cancel the remainder of the shares repurchased.
The share buyback program will be executed within the limitations of the existing authority granted by the AGM on April 23, 2025, and of the authority to be granted by future AGMs. The share buyback program may be suspended, modified or discontinued at any time.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website (www.asml.com/investors).
Strengthening our focus on engineering and innovation
The semiconductor ecosystem is poised to experience significant growth in the coming years, and ASML is well positioned to leverage this positive development. To prepare for future opportunities, ASML intends to strengthen its focus on engineering and innovation in critical areas of the company through the streamlining of the Technology and the IT organizations. Employees and employee representatives are being informed of the proposed changes, and further details will be made available today on asml.com at 08:30 CET.
Media Relations contacts Investor Relations contacts Monique Mols +31 6 5284 4418 Jim Kavanagh +31 40 268 3938 Sarah de Crescenzo +1 925 899 Pete Convertito +1 203 919 1714 8985 Karen Lo +886 9 397 88635 Peter Cheang +886 3 659 6771
Quarterly video interview, annual press release conference and investor call
With this press release, ASML is publishing a video interview in which CEO Christophe Fouquet and CFO Roger Dassen discuss the 2025 fourth-quarter, full-year results and outlook for 2026. This video and the video transcript can be viewed on www.asml.com shortly after the publication of this press release.
CEO Christophe Fouquet and CFO Roger Dassen will host a press conference on January 28, 2026, at 11:00 Central European Time, which will also be accessible via a live webcast on www.asml.com.
An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on January 28, 2026 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML
ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML's more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML -- our products, technology and career opportunities -- at www.asml.com.
US GAAP Reporting
ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.
The consolidated balance sheets of ASML Holding N.V. as of December 31, 2025, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and twelve months ended December 31, 2025 as presented in this press release are unaudited.
In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS') for statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concerns the capitalization of certain product development costs, valuation of equity investments, and accounting for income taxes.
2025 Annual Reports
ASML will publish its 2025 Annual Report based on US GAAP and its 2025 Annual Report based on IFRS on February 25, 2026. Both reports will include sustainability statements in accordance with the Corporate Sustainability Reporting Directive. The reports and introductory video with CFO Roger Dassen will be published on our website, www.asml.com.
Regulated information
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