Financials ASML Holding N.V.

Equities

ASML

NL0010273215

Semiconductor Equipment & Testing

Real-time Euronext Amsterdam Other stock markets 03:37:25 22/01/2026 pm IST			5-day change	1st Jan Change
1,192.60 ^EUR	+3.27%		+9.98%	+29.41%

12:38pm	ASML : Gets a Buy rating from Bernstein	ZD
22/01	ASML : Buy rating from JP Morgan	ZD

Projected Income Statement: ASML Holding N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	13,978	18,611	21,173	27,558	28,263	32,474	35,155	40,867
Change	-	33.14%	13.77%	30.16%	2.56%	14.9%	8.25%	16.25%
EBITDA ¹	4,542	7,007	7,084	9,782	9,941	12,315	13,420	16,876
Change	-	54.27%	1.1%	38.08%	1.63%	23.88%	8.97%	25.76%
EBIT ¹	4,052	6,536	6,501	9,042	9,023	11,297	12,323	15,431
Change	-	61.33%	-0.55%	39.1%	-0.22%	25.21%	9.07%	25.22%
Interest Paid ¹	-34.9	-44.6	-44.6	41.2	19.8	-44	-50	-50
Earnings before Tax (EBT) ¹	4,017	6,706	6,456	9,084	9,042	11,442	12,282	15,515
Change	-	66.94%	-3.72%	40.7%	-0.45%	26.54%	7.35%	26.32%
Net income ¹	3,554	5,883	5,624	7,839	7,572	9,662	10,493	13,061
Change	-	65.55%	-4.4%	39.38%	-3.41%	27.61%	8.6%	24.47%
Announcement Date	20/01/21	19/01/22	25/01/23	24/01/24	29/01/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	4,254	4,364	4,020	5,241	4,986	3,534	5,431	5,778	6,430	6,746	6,902	6,673	7,237	5,290	6,243	7,467	9,263	7,742	7,692	7,516	9,576	8,128	8,396	9,059	10,132	9,714	9,899	10,491
Change	-	2.58%	-7.88%	30.37%	-4.87%	-29.12%	53.68%	6.39%	11.29%	4.91%	2.31%	-3.32%	8.45%	-26.9%	18.02%	19.61%	24.04%	-16.42%	-0.65%	-2.28%	27.41%	-15.12%	3.29%	7.9%	11.84%	-4.13%	1.91%	5.98%
EBITDA ¹	1,629	1,678	1,352	2,036	1,942	915.6	1,785	2,076	2,307	2,375	2,444	2,359	2,604	1,606	2,062	2,676	3,596	2,979	2,919	2,743	3,754	3,018	3,063	3,458	4,344	3,644	3,767	3,947
Change	-	3.03%	-19.47%	50.59%	-4.61%	-52.85%	94.94%	16.33%	11.13%	2.94%	2.9%	-3.5%	10.4%	-38.33%	28.42%	29.78%	34.39%	-17.16%	-2.02%	-6.03%	36.86%	-19.6%	1.47%	12.9%	25.63%	-16.1%	3.36%	4.79%
EBIT ¹	1,504	1,561	1,239	1,919	1,818	784.6	1,653	1,938	2,124	2,205	2,263	2,182	2,392	1,391	1,835	2,440	3,355	2,738	2,664	2,468	3,443	2,718	2,851	3,214	3,733	3,534	3,634	3,923
Change	-	3.78%	-20.61%	54.91%	-5.3%	-56.83%	110.73%	17.24%	9.58%	3.8%	2.63%	-3.56%	9.6%	-41.83%	31.85%	33.02%	37.49%	-18.4%	-2.7%	-7.35%	39.5%	-21.07%	4.88%	12.73%	16.17%	-5.33%	2.83%	7.95%
Charge d'intérêts	-8	-12.1	-9.8	-10.5	-12.2	-15.6	-10.8	-15.1	-3.1	12.2	16.7	7.1	5.2	26.2	-	-0.8	6.3	49.2	24.8	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,496	1,548	1,229	1,909	2,019	769	1,643	1,923	2,121	2,217	2,280	2,190	2,397	1,418	1,823	2,440	3,362	2,787	2,689	2,488	3,453	2,691	2,897	3,284	3,612	3,641	3,715	4,013
Change	-	3.53%	-20.62%	55.29%	5.77%	-61.91%	113.6%	17.09%	10.28%	4.53%	2.82%	-3.96%	9.48%	-40.86%	28.58%	33.89%	37.75%	-17.09%	-3.52%	-7.48%	38.79%	-22.06%	7.66%	13.36%	9.99%	0.78%	2.03%	8.02%
Net income ¹	1,350	1,331	1,038	1,740	1,774	695	1,411	1,702	1,816	1,956	1,942	1,893	2,048	1,224	1,578	2,076	2,693	2,355	2,290	2,125	2,912	2,366	2,443	2,730	3,194	3,062	3,121	3,357
Change	-	-1.41%	-22.02%	67.62%	1.94%	-60.82%	103.02%	20.59%	6.76%	7.67%	-0.72%	-2.49%	8.17%	-40.25%	28.93%	31.6%	29.71%	-12.56%	-2.75%	-7.22%	37.02%	-18.74%	3.27%	11.73%	17%	-4.13%	1.91%	7.57%
Announcement Date	20/01/21	21/04/21	21/07/21	20/10/21	19/01/22	20/04/22	20/07/22	19/10/22	25/01/23	19/04/23	19/07/23	18/10/23	24/01/24	17/04/24	17/07/24	15/10/24	29/01/25	16/04/25	16/07/25	15/10/25	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2023 S1	2023 S2	2024 S2
Net sales ¹	13,648	13,910	16,730
Change	-	1.92%	20.27%
EBITDA	-	-	-
Change	-	-	-
EBIT	-	-	-
Change	-	-	-
Charge d'intérêts	-	-	-
Earnings before Tax (EBT)	-	-	-
Change	-	-	-
Net income	-	-	-
Change	-	-	-
Announcement Date	19/07/23	24/01/24	29/01/25

¹EUR in Million

Estimates

Forecast Balance Sheet: ASML Holding N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-2,689	-3,515	-3,862	-2,379	-9,064	-6,756	-8,819	-11,456
Change	-	-30.72%	-9.87%	38.4%	-281%	25.46%	-30.54%	-29.9%
Announcement Date	20/01/21	19/01/22	25/01/23	24/01/24	29/01/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: ASML Holding N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	962	900.7	1,282	2,156	2,067	1,712	1,960	2,067
Change	-	-6.37%	42.31%	68.17%	-4.1%	-17.19%	14.5%	5.48%
Free Cash Flow (FCF) ¹	3,666	9,945	7,205	3,288	9,099	5,187	8,801	11,122
Change	-	171.31%	-27.55%	-54.37%	176.75%	-42.99%	69.67%	26.37%
Announcement Date	20/01/21	19/01/22	25/01/23	24/01/24	29/01/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: ASML Holding N.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	32.49%	37.65%	33.46%	35.5%	35.17%	37.92%	38.17%	41.3%
EBIT Margin (%)	28.98%	35.12%	30.7%	32.81%	31.92%	34.79%	35.05%	37.76%
EBT Margin (%)	28.73%	36.03%	30.49%	32.96%	31.99%	35.23%	34.94%	37.97%
Net margin (%)	25.42%	31.61%	26.56%	28.44%	26.79%	29.75%	29.85%	31.96%
FCF margin (%)	26.22%	53.44%	34.03%	11.93%	32.19%	15.97%	25.04%	27.21%
FCF / Net Income (%)	103.15%	169.05%	128.11%	41.94%	120.17%	53.69%	83.88%	85.16%
Profitability
ROA	14.24%	20.46%	16.91%	20.56%	17.1%	19.18%	20.27%	23.32%
ROE	26.86%	49.01%	59.35%	70.42%	47.43%	50.3%	49.39%	52.38%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	6.88%	4.84%	6.05%	7.82%	7.31%	5.27%	5.58%	5.06%
CAPEX / EBITDA (%)	21.18%	12.85%	18.09%	22.04%	20.79%	13.9%	14.61%	12.25%
CAPEX / FCF (%)	26.24%	9.06%	17.79%	65.56%	22.72%	33%	22.27%	18.59%
Items per share
Cash flow per share ¹	11.04	26.43	13.44	13.81	28.37	25.3	28.86	36.63
Change	-	139.34%	-49.14%	2.77%	105.39%	-10.83%	14.09%	26.92%
Dividend per Share ¹	2.75	5.5	5.8	6.1	6.4	7.338	8.24	9.726
Change	-	100%	5.45%	5.17%	4.92%	14.66%	12.29%	18.04%
Book Value Per Share ¹	33.15	24.75	22.15	34.13	46.94	50.92	60.05	75.16
Change	-	-25.35%	-10.47%	54.07%	37.53%	8.48%	17.92%	25.17%
EPS ¹	8.48	14.34	14.13	19.89	19.24	24.89	27.52	34.71
Change	-	69.1%	-1.46%	40.76%	-3.27%	29.35%	10.58%	26.12%
Nbr of stocks (in thousands)	4,10,673	4,06,474	3,98,937	3,94,590	3,93,028	3,86,196	3,86,196	3,86,196
Announcement Date	20/01/21	19/01/22	25/01/23	24/01/24	29/01/25	-	-	-