ASML (ASML) Q2 2025 Pre Recorded earnings summary

Executive summary

• Q2 2025 net sales reached €7.7 billion, with net income of €2.3 billion and gross margin of 53.7%, both at the high end of guidance, driven by strong demand in the semiconductor industry and AI adoption.

• Net bookings for Q2 were €5.5 billion, including €2.3 billion from EUV systems.

• The first EXE:5200B High NA tool was shipped, offering significant productivity improvements and reinforcing technology leadership.

• Net sales for H1 2025 reached €15.4 billion, up 33.8% year-over-year, with net income up 58.4% to €5.0 billion.

• Significant R&D investments supported ongoing innovation in EXE, NXE, DUV, and applications programs.

Financial highlights

• Q2 2025 net system sales were €5.6 billion, with Installed Base Management sales at €2.1 billion.

• Gross margin for Q2 2025 was 53.7%, operating margin 34.6%, and net income margin 29.8%.

• Earnings per share (basic) for Q2 2025 was €5.90.

• Cash and cash equivalents at end of Q2 2025: €7.2 billion, down from €12.7 billion at year-end 2024.

• Share buybacks of €1.4 billion completed in Q2 2025; total 2024 dividend was €6.40 per share, with a Q3 2025 interim dividend of €1.60 planned.

Outlook and guidance

• Q3 2025 net sales expected between €7.4 billion and €7.9 billion, with gross margin guidance at 50–52%.

• Full-year 2025 revenue expected to increase by about 15% year-over-year, with gross margin around 52%.

• Installed base revenue for Q3 projected at approximately €2 billion.

• Revenue and shipments are expected to be weighted toward the second half, especially Q4.

• Long-term forecast for 2030: revenue between €44–60 billion and gross margin of 56–60%.