ASML

No business description extracted yet.

20-F, Feb 25, 2026

Voices · third-party opinions, not SEC data

Not investment advice. They could be wrong or outdated. See the original source and date; the view may have changed.

What do investors say about ASML?

Tim GarrattInvestorJul 10, 2026Invests

Our summary: Garratt called ASML, with TSMC, an entrenched bottleneck with durable structural advantages and proven high margins.

CNBC interview ›

Details ⓘ

Speaker: Tim Garratt, Baillie Gifford
Role: Investor
Source: CNBC
Format: TV interview
Date: Jul 10, 2026
Checked: Oct 15, 2026

Voice details · not SEC data. As stated on Jul 10, 2026; the view may have changed.

Ben BarringerAnalystApr 15, 2026Mixed

Our summary: After ASML raised its 2026 guidance, Barringer said the market had already expected that growth and was a little ahead of the company.

“The market was a little bit ahead of them”

CNBC article ›

Details ⓘ

Speaker: Ben Barringer, Quilter Cheviot
Role: Analyst
Source: CNBC
Format: News article
Date: Apr 15, 2026
Checked: Oct 15, 2026

Voice details · not SEC data. As stated on Apr 15, 2026; the view may have changed.

All 2 Voices on ASML ›

Business

How does ASML make money?

Systems is 74.9% of revenue.

Systems74.9%

Installed Base25.1%

What is left of every €100?

Of every €100 in revenue, €29 is net income.

Revenue€100

Gross profit€53

Operating income€35

Net income€29

Free cash flow€34

Where do customers sit?

29.1% of revenue is from China.

China29.1%

Taiwan25.5%

South Korea25.0%

United States12.5%

Japan4.3%

Singapore1.9%

Rest of Europe & Middle East1.6%

Where did the growth actually come from?

Systems drove 77% of ASML’s growth.

Revenue FY2016€6.9B

Systems+€19.8B

Installed Base+€6.1B

Revenue FY2025€32.7B

Thesis

Why do people invest?

No filing sentence met the rules.

Dependencies

Who does ASML depend on?

No customer above the disclosure threshold.

Customers, suppliers, stakes and mentions ›

Only what filings state. Anonymous customers stay anonymous.

Largest customers (ASML annual report)

No customer with a reported share of revenue (the 10-K names none above the disclosure threshold).

Suppliers named by ASML

No supplier among the covered companies is named in the filings.

ASML holds stakes in

No stake in a covered company found in SEC filings.

Others name ASML

1 competitor mention (e.g. KLA) · 1 supplier mention (e.g. Intel) in covered companies’ filings. Mentions, not confirmed relationships.

Risks

What could go wrong?

No risk factor passed the rules and the verbatim check.

Who’s invested

Who owns more than 5%?

BlackRock, Inc. holds 6.7%.

BlackRock, Inc.6.7%
13G/A · as of Mar 31, 2025 · filed Apr 23, 2025

13F holders and insider trades ›

Largest institutional holders, 13F, quarter ending Jun 30, 2026

Fmr LLC7.2%
5.5M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Fisher Asset Management, LLC6.2%
4.7M shares · 13F filed Aug 4, 2026 · share of 13F-reported
Capital World Investors4.9%
3.7M shares · 13F filed Aug 12, 2026 · share of 13F-reported
Invesco Ltd.4.1%
3.1M shares · 13F filed Aug 14, 2026 · share of 13F-reported
State Farm Mutual Automobile Insurance Co3.6%
2.8M shares · 13F filed Aug 12, 2026 · share of 13F-reported

2,506 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding. 1 large filing with inconsistent reported value per share left out.

Insiders, last 12 months (Form 4, open market)

0 purchases · 0 sales · $0.00 sold

Grants, gifts and tax withholding counted separately · window Oct 13, 2025 – Oct 13, 2026

All metrics

All metrics · 36 SEC metrics, FY2016–FY2025

Income statement 10

Metric	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cost of revenue

D&A

Gross profit

Income taxes

Interest expense

Net income

Operating income

Research and development	not reported

Revenue

SG&A

Balance sheet 9

Metric	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents

Current liabilities

Current portion of long-term debt

Equity

Equity incl. NCI

Long-term debt

Total assets

Total debt calc.

Total liabilities & equity

Cash flow 7

Metric	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Buybacks

Capex

Dividends	not reported	not reported	not reported	not reported	not reported	not reported	not reported

Free cash flow calc.

Interest paid

Operating cash flow

Stock-based compensation

Per share & shares 4

Metric	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
EPS basic

EPS diluted

Wtd. shares basic

Wtd. shares diluted

Segments 2

Metric	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Installed Base Management sales

Net system sales

Other 4

Metric	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021
EUV bookings calc.	not reported	not reported	not reported	not reported	not reported	not reported

Other income (incl. interest) calc.

Pretax income

Total liabilities

ASML

Source and method

What do investors say about ASML?

Business

Systems is 74.9% of revenue. i

Source and method

Of every €100 in revenue, €29 is net income. i

Source and method

29.1% of revenue is from China. i

Source and method

Systems drove 77% of ASML’s growth.

Thesis

No filing sentence met the rules.

KPIs

Revenue grew 16% to €32.7B.

Per share, revenue grew 57.9%.

34.6% operating margin, up from 31.9%.

52.8% gross margin, up from 51.3%.

Operating income grew 25% to €11.3B.

Net income grew 27% to €9.6B.

R&D grew 9.2% to €4.7B.

SG&A grew 7.9% to €1.3B.

EPS diluted grew 28% to €24.71.

Keeps €34 of every €100 as free cash.

Operating cash flow grew 13% to €12.7B.

Capex fell 24% to €1.6B.

Buybacks grew 1090% to €6.0B.

Stock-based compensation grew 17% to €202M.

€12.9B cash vs €4.4B debt.

Total debt fell 6.3% to €4.4B.

Interest expense fell 27% to €118M.

Total assets grew 4.1% to €50.6B.

Equity grew 6.1% to €19.6B.

Cash grew 1.4% YoY to €12.9B.

Total debt fell 6.3% YoY to €4.4B.

Total assets grew 4.1% YoY to €50.6B.

Equity grew 6.1% YoY to €19.6B.

EUV bookings grew 92% to €14.5B.

Net system sales grew 12% to €24.5B.

Dependencies

No customer above the disclosure threshold.

Risks

No risk factor passed the rules and the verbatim check.

Who’s invested

BlackRock, Inc. holds 6.7%. i

Source and method

All metrics

Method

Systems is 74.9% of revenue.

Of every €100 in revenue, €29 is net income.

29.1% of revenue is from China.

BlackRock, Inc. holds 6.7%.