AS
ASML Holding (US-listed NY registry shares)
ConvictionStrong
Capital-equipment OEM: sells advanced lithography scanners (EUV / High-NA EUV / DUV) to leading-edge logic and memory fabs, plus a high-margin recurring Installed Base Management (service, upgrades, spares) annuity on a fleet of ~6,500 systems.
Revenuefact
€32.7B FY2025€36–40B guided FY2026 (raised from €34–39B at Q1Rev growthfact
+16% FY2025 YoY+13% YoY in Q1 FY26 to €8.8B (factGross margin
52.8% FY202553.0% Q1 FY26 (fact, high end of guideOp marginfact
~33% FY2025est); net margin 31.4% Q1 FY26Capex intensity
Low/asset-light: capex ~5–6% of salesest, ~€1.5–2B/yr); the heavy capex sits with ASML's fab customers, not ASMLMarket cap
~$698B25 Jun 2026, factAcross the boards
The thesis on this name
opportunityModerate
State of AI Compute
Full context
position · longWeak
State of AI Compute
Full context
book · long
State of AI Compute
Full context
opportunityModerate
State of the Memory Supercycle
Full context
position · longStrong
State of the Memory Supercycle
Full context
book · long
State of the Memory Supercycle
Full context
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for ASML Holding (US-listed NY registry shares)
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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