ASML (ASML) Q4 2024 Pre Recorded earnings summary

Executive summary

• Q4 2024 net sales reached €9.3 billion and gross margin was 51.7%, both above guidance, driven by upgrades and High NA EUV system revenue recognition.

• Full-year 2024 net sales totaled €28.3 billion, with net income of €7.6 billion and gross margin of 51.3%.

• EPS for 2024 was €19.25; Q4 EPS was €6.85.

• Returned €3.0 billion to shareholders via dividends and share buybacks in 2024.

• Q4 net bookings were €7.1 billion, with a year-end backlog of €36 billion.

Financial highlights

• Operating income for 2024 was €9.0 billion, representing 31.9% of net sales.

• Free cash flow for 2024 was €9.1 billion, up from €3.2 billion in 2023.

• End-2024 cash and short-term investments totaled €12.7 billion.

• Installed Base Management sales grew 16% to €6.5 billion.

• Operating cash flow for FY 2024 was €11.2 billion, up from €5.4 billion in 2023.

Outlook and guidance

• 2025 net sales expected between €30 billion and €35 billion, with gross margin guidance of 51%-53%.

• Q1 2025 net sales guidance is €7.5–8.0 billion, with gross margin expected at 52%-53%.

• R&D costs for Q1 2025 projected at €1,140 million; SG&A at €290 million.

• Export control impacts from U.S. and Dutch regulations are reflected in the 2025 guidance.

• Long-term outlook projects 2030 revenue between €44 billion and €60 billion, with gross margin of 56%-60%.