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ASML (ASML) investor relations material
ASML Q2 2025 Investor Call earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 Investor Call earnings summary16 Jul, 2025
Executive summary
Q2 2025 net sales reached €7.7B, with net income of €2.3B and EPS of €5.90, driven by strong AI-fueled demand and advanced lithography.
Gross margin for Q2 was 53.7%, at the high end of guidance.
Net bookings for Q2 totaled €5.5B, including €2.3B in EUV systems, with logic dominating at 84%.
First EXE:5200B high NA system shipped, supporting advanced chip manufacturing.
China revenue expected to exceed 25% of total for the year, reflecting backlog alignment.
Financial highlights
Q2 2025 net system sales: €5.6B (EUV: €2.7B, non-EUV: €2.9B); logic 69%, memory 31%.
Installed Base Management sales: €2.1B, above guidance.
Gross margin: 53.7%; operating margin: 34.6%; net income margin: 29.8%.
Cash, equivalents, and short-term investments: €7.2B at quarter-end.
Q2 2025 free cash flow: €319M; operating cash flow: €747.7M.
Outlook and guidance
Full-year 2025 revenue expected to grow 15% with gross margin around 52%.
Q3 2025 net sales guided between €7.4B and €7.9B; gross margin expected at 50–52%.
Installed Base Management revenue projected to grow over 20% year-over-year.
R&D costs for Q3 2025 estimated at €1.2B; SG&A at €310M.
2026 outlook remains uncertain due to macro and geopolitical factors.
What drove the Q2 gross margin above guidance?
What is the interim dividend per share?
Assess macro, geopolitical uncertainty on 2026 growth.
Assess impact of tariffs on GDP growth.
How does AI drive growth in memory and logic?
When will High NA be ready for volume mfg?
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Q3 2025 Pre Recorded15 Oct, 2025
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Frequently asked questions
Supplying the Semiconductor Industry
ASML Holding N.V. is a provider of advanced semiconductor manufacturing equipment, specializing in photolithography systems. These systems are essential for producing integrated circuits, which are foundational components in various electronic devices.
ASML's key products include extreme ultraviolet (EUV) and deep ultraviolet (DUV) lithography machines, which enable the miniaturization of semiconductor devices. The company serves major semiconductor manufacturers globally, playing a critical role in the production of chips used in smartphones, data centers, automotive applications, and consumer electronics. The company is headquartered in Veldhoven, Netherlands, and its shares are listed on the NASDAQ.
Specialized in Lithography Systems
ASML specializes in semiconductor lithography systems, used in the manufacturing of integrated circuits (ICs) or microchips. Their products, including state-of-the-art lithography machines, enable chip manufacturers to create smaller and more powerful microchips all while keeping the end product highly energy-efficient. These machines use advanced technologies like extreme ultraviolet (EUV) light to precisely print intricate patterns on silicon wafers, which is a crucial step in semiconductor fabrication.
ASML's machines are unique, as they are the only systems in the world capable of extreme ultraviolet (EUV) lithography, a critical technology for producing advanced semiconductors. These machines enable chipmakers to create smaller, faster, and more energy-efficient chips by etching incredibly fine patterns onto silicon wafers. The complexity and precision required for EUV lithography make ASML's machines unparalleled in the industry, with each system containing thousands of components and taking years to develop.
This exclusivity positions ASML as a key supplier to leading semiconductor companies like Intel, TSMC, and Samsung.
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