NASDAQ : ASML
ASML Holding N.V. — Financial statements
Technology · Semiconductor Equipment & Materials · Netherlands
Last price 1675.7 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 648.27B
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Financial statements
ASML Holding N.V. (ASML) reported revenue of 39.47B EUR (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 39.47B | 32.67B | 28.26B | 27.56B | 21.17B | 18.61B |
| Cost of Revenue | 18.02B | 15.41B | 13.77B | 13.42B | 10.47B | 8.80B |
| Gross Profit | 21.45B | 17.26B | 14.49B | 14.14B | 10.70B | 9.81B |
| Selling, General & Admin | 1.33B | 1.26B | 1.17B | 1.11B | 945.90M | 725.60M |
| Research & Development | 4.90B | 4.70B | 4.30B | 3.98B | 3.25B | 2.55B |
| Operating Expenses | 6.23B | 5.96B | 5.47B | 5.09B | 4.20B | 3.27B |
| Operating Income | 15.22B | 11.30B | 9.02B | 9.04B | 6.50B | 6.54B |
| Interest Expense | -118.30M | -118.30M | -162.60M | -152.70M | -60.80M | -54.60M |
| Interest & Investment Income | 268.70M | 223.00M | 182.40M | 193.90M | 16.20M | 10.00M |
| Earnings From Equity Investments | 806.10M | 216.70M | 209.80M | 191.30M | 138.00M | 199.10M |
| EBT Excluding Unusual Items | 16.17B | 11.62B | 9.25B | 9.27B | 6.59B | 6.69B |
| Gain (Loss) on Sale of Assets | 213.70M | |||||
| Pretax Income | 16.17B | 11.62B | 9.25B | 9.27B | 6.59B | 6.90B |
| Income Tax Expense | 2.70B | 2.01B | 1.68B | 1.44B | 969.90M | 1.02B |
| Net Income | 13.47B | 9.61B | 7.57B | 7.84B | 5.62B | 5.88B |
| Net Income to Common | 13.47B | 9.61B | 7.57B | 7.84B | 5.62B | 5.88B |
| Shares Outstanding (Basic) | 384.82M | 388.50M | 393.30M | 393.80M | 397.70M | 409.80M |
| Shares Outstanding (Diluted) | 385.30M | 388.90M | 393.60M | 394.10M | 398.10M | 410.40M |
| EPS (Basic) | 35.01 | 24.73 | 19.25 | 19.91 | 14.14 | 14.36 |
| EPS (Diluted) | 34.97 | 24.71 | 19.24 | 19.89 | 14.13 | 14.34 |
| Free Cash Flow | 21.16B | 11.08B | 9.10B | 3.29B | 7.21B | 9.95B |
| Free Cash Flow Per Share | 54.92 | 28.50 | 23.12 | 8.34 | 18.10 | 24.23 |
| Dividend Per Share | 7.50 | 7.50 | 6.40 | 6.10 | 5.80 | 5.50 |
| Gross Margin | 54.34% | 52.83% | 51.28% | 51.30% | 50.54% | 52.70% |
| Operating Margin | 38.55% | 34.59% | 31.92% | 32.81% | 30.70% | 35.12% |
| Profit Margin | 34.13% | 29.42% | 26.79% | 28.44% | 26.56% | 31.61% |
| Free Cash Flow Margin | 53.61% | 33.93% | 32.19% | 11.93% | 34.03% | 53.44% |
| EBITDA | 16.18B | 12.27B | 9.86B | 9.78B | 7.08B | 6.99B |
| EBITDA Margin | 40.99% | 37.55% | 34.89% | 35.47% | 33.44% | 37.56% |
| D&A For EBITDA | 963.30M | 965.00M | 838.80M | 733.20M | 580.30M | 454.60M |
| EBIT | 15.22B | 11.30B | 9.02B | 9.04B | 6.50B | 6.54B |
| EBIT Margin | 38.55% | 34.59% | 31.92% | 32.81% | 30.70% | 35.12% |
| Effective Tax Rate | 16.69% | 17.32% | 18.16% | 15.48% | 14.71% | 14.79% |
| Revenue as Reported | 39.47B | 32.67B | 28.26B | 27.56B | 21.17B | 18.61B |
Balance sheet
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.03B | 12.92B | 12.74B | 7.00B | 7.27B | 6.95B |
| Short-Term Investments | 4.70B | 405.90M | 5.40M | 5.40M | 107.70M | 638.50M |
| Trading Asset Securities | 200.00K | 9.30M | 1.70M | 36.60M | ||
| Cash & Short-Term Investments | 12.74B | 13.32B | 12.75B | 7.01B | 7.38B | 7.63B |
| Accounts Receivable | 10.38B | 4.08B | 4.88B | 5.95B | 6.81B | 4.38B |
| Other Receivables | 145.40M | 276.10M | 562.70M | 1.30B | 234.60M | 178.70M |
| Receivables | 10.83B | 4.62B | 5.44B | 7.26B | 7.05B | 4.56B |
| Inventory | 11.91B | 11.43B | 10.89B | 8.85B | 7.20B | 5.18B |
| Prepaid Expenses | 538.00M | 555.50M | 472.10M | 678.60M | 374.30M | |
| Other Current Assets | 1.55B | 707.40M | 1.10B | 804.20M | 761.90M | 452.90M |
| Total Current Assets | 37.03B | 30.62B | 30.74B | 24.39B | 23.06B | 18.19B |
| Property, Plant & Equipment | 8.40B | 8.23B | 7.23B | 5.80B | 4.14B | 3.15B |
| Long-Term Investments | 3.37B | 2.14B | 903.00M | 930.90M | 923.60M | 939.80M |
| Goodwill | 4.59B | 4.59B | 4.59B | 4.59B | 4.56B | 4.56B |
| Other Intangible Assets | 582.50M | 540.10M | 621.30M | 741.70M | 842.40M | 952.10M |
| Long-Term Accounts Receivable | 13.30M | 317.20M | 60.60M | 383.00M | ||
| Long-Term Deferred Tax Assets | 1.69B | 1.72B | 1.94B | 1.87B | 1.67B | 1.10B |
| Other Long-Term Assets | 1.55B | 1.06B | 790.80M | 640.50M | 739.80M | 839.70M |
| Total Assets | 58.98B | 50.57B | 48.59B | 39.96B | 36.30B | 30.23B |
| Accounts Payable | 3.52B | 3.50B | 2.35B | 2.57B | 2.12B | |
| Accrued Expenses | 2.43B | 2.53B | 2.04B | 1.75B | 1.39B | |
| Current Portion of Long-Term Debt | 1.71B | 1.05B | 67.50M | 794.00M | 509.10M | |
| Current Portion of Leases | 60.80M | 68.60M | 46.70M | 47.60M | 46.60M | |
| Current Income Taxes Payable | 486.60M | 283.30M | 308.90M | 315.30M | 301.90M | |
| Current Unearned Revenue | 16.01B | 12.57B | 11.44B | 12.48B | 7.94B | |
| Other Current Liabilities | 24.90B | 44.90M | 42.70M | 26.60M | 34.40M | 2.80M |
| Total Current Liabilities | 24.90B | 24.26B | 20.05B | 16.27B | 17.98B | 12.30B |
| Long-Term Debt | 1.96B | 2.73B | 3.71B | 4.69B | 3.69B | 4.08B |
| Long-Term Leases | 190.60M | 237.40M | 181.20M | 149.10M | 115.10M | |
| Long-Term Unearned Revenue | 9.30B | 3.37B | 5.63B | 4.83B | 5.27B | 3.23B |
| Long-Term Deferred Tax Liabilities | 289.20M | 8.50M | 46.10M | 122.60M | 51.50M | 34.70M |
| Other Long-Term Liabilities | 460.20M | 396.20M | 445.90M | 406.90M | 342.30M | 341.90M |
| Total Liabilities | 36.92B | 30.95B | 30.11B | 26.51B | 27.49B | 20.09B |
| Common Stock | 22.06B | 34.90M | 35.40M | 36.00M | 36.30M | 36.50M |
| Additional Paid-In Capital | 4.11B | 4.05B | 4.00B | 3.94B | 3.88B | |
| Retained Earnings | 17.59B | 14.41B | 12.38B | 9.05B | 8.32B | |
| Treasury Stock | -2.25B | -476.00M | -3.31B | -4.64B | -2.42B | |
| Comprehensive Income & Other | 135.80M | 454.10M | 345.00M | 428.30M | 333.50M | |
| Shareholders' Equity | 22.06B | 19.61B | 18.48B | 13.45B | 8.81B | 10.14B |
| Total Liabilities & Equity | 58.98B | 50.57B | 48.59B | 39.96B | 36.30B | 30.23B |
| Total Debt | 1.96B | 4.69B | 5.06B | 4.99B | 4.68B | 4.75B |
| Net Cash (Debt) | 10.77B | 8.63B | 7.69B | 2.02B | 2.69B | 2.88B |
| Net Cash Per Share | 27.96 | 22.20 | 19.53 | 5.13 | 6.77 | 7.02 |
| Filing Date Shares Outstanding | 383.10M | 385.42M | 393.28M | 393.42M | 394.59M | 402.60M |
| Total Common Shares Outstanding | 383.10M | 385.42M | 393.28M | 393.42M | 394.59M | 402.60M |
| Working Capital | 12.12B | 6.35B | 10.69B | 8.12B | 5.08B | 5.89B |
| Book Value Per Share | 57.59 | 50.89 | 46.98 | 34.19 | 22.33 | 25.19 |
| Tangible Book Value | 16.89B | 14.48B | 13.27B | 8.12B | 3.41B | 4.63B |
| Tangible Book Value Per Share | 44.10 | 37.58 | 33.73 | 20.64 | 8.65 | 11.51 |
| Land | 6.42B | 5.45B | 229.70M | 178.70M | 137.50M | |
| Buildings | 4.09B | 3.14B | 2.67B | |||
| Machinery | 5.77B | 5.02B | 4.28B | 3.27B | 2.44B | |
| Leasehold Improvements | 629.00M | 594.50M | 478.50M | 400.80M | 368.60M | |
| Order Backlog | 38.80B |
Cash flow statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 13.47B | 9.61B | 7.57B | 7.84B | 5.62B | 5.88B |
| Depreciation & Amortization | 963.30M | 965.00M | 838.80M | 733.20M | 580.30M | 454.60M |
| Other Amortization | 74.50M | 74.50M | 79.80M | 6.60M | 3.30M | 16.40M |
| Loss (Gain) From Sale of Assets | 31.70M | 31.70M | 10.70M | -213.70M | ||
| Asset Writedown & Restructuring Costs | 15.70M | 18.00M | 25.10M | 37.50M | 39.30M | -15.90M |
| Loss (Gain) on Equity Investments | -514.40M | 94.60M | 4.40M | 4.20M | 15.30M | -49.80M |
| Stock-Based Compensation | 218.40M | 202.30M | 172.60M | 134.80M | 68.90M | 117.50M |
| Other Operating Activities | 584.90M | 636.50M | 409.90M | 351.70M | -285.70M | -238.90M |
| Change in Accounts Receivable | 2.54B | 2.54B | 1.73B | -604.70M | 4.29B | 3.77B |
| Change in Inventory | -832.50M | -832.50M | -1.86B | -1.65B | -2.08B | -483.20M |
| Change in Accounts Payable | 13.40M | 13.40M | 1.13B | -261.70M | 406.20M | 718.60M |
| Change in Income Taxes | 334.10M | 334.10M | 689.50M | -939.40M | 33.60M | 214.40M |
| Change in Other Net Operating Assets | 5.82B | -1.03B | 365.20M | -210.90M | -212.40M | 667.70M |
| Operating Cash Flow | 22.73B | 12.66B | 11.17B | 5.44B | 8.49B | 10.85B |
| Capital Expenditures | -1.56B | -1.57B | -2.07B | -2.16B | -1.28B | -900.70M |
| Cash Acquisitions | -33.60M | |||||
| Divestitures | 329.00M | |||||
| Sale (Purchase) of Intangibles | -162.90M | -57.60M | -15.90M | -40.60M | -37.50M | -39.60M |
| Investment in Securities | -5.20B | -1.70B | 102.00M | 530.40M | 663.70M | |
| Investing Cash Flow | -7.11B | -3.78B | -2.61B | -2.69B | -1.03B | -72.00M |
| Long-Term Debt Issued | 754.20M | 22.50M | 997.80M | 495.60M | ||
| Long-Term Debt Repaid | -1.07B | -25.70M | -752.80M | -516.20M | -12.10M | |
| Net Debt Issued (Repaid) | -2.02B | -312.50M | -3.20M | 245.00M | -20.60M | -12.10M |
| Issuance of Common Stock | 141.10M | 142.30M | 124.00M | 99.40M | 81.80M | 49.00M |
| Repurchase of Common Stock | -7.85B | -5.95B | -500.00M | -1.00B | -4.64B | -8.56B |
| Common Dividends Paid | -3.00B | -2.55B | -2.45B | -2.35B | -2.56B | -1.37B |
| Financing Cash Flow | -12.72B | -8.67B | -2.83B | -3.00B | -7.14B | -9.89B |
| Foreign Exchange Rate Adjustments | 9.50M | -30.10M | 6.40M | -13.80M | -3.10M | 20.30M |
| Net Cash Flow | 2.90B | 180.10M | 5.73B | -263.60M | 316.50M | 902.40M |
| Free Cash Flow | 21.16B | 11.08B | 9.10B | 3.29B | 7.21B | 9.95B |
| Free Cash Flow Margin | 53.61% | 33.93% | 32.19% | 11.93% | 34.03% | 53.44% |
| Free Cash Flow Per Share | 54.92 | 28.50 | 23.12 | 8.34 | 18.10 | 24.23 |
| Levered Free Cash Flow | 10.37B | 10.85B | 6.71B | 1.56B | 3.63B | 6.88B |
| Unlevered Free Cash Flow | 10.45B | 10.93B | 6.81B | 1.65B | 3.67B | 6.91B |
| Cash Interest Paid | 114.50M | 114.50M | 160.00M | 137.80M | 82.20M | 83.00M |
| Cash Income Tax Paid | 1.62B | 1.62B | 1.10B | 2.57B | 1.73B | 1.24B |
| Change in Working Capital | 7.88B | 1.03B | 2.05B | -3.66B | 2.44B | 4.89B |
Ratios
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 603.23B | 417.80B | 276.17B | 297.33B | 214.80B | 326.69B |
| Enterprise Value | 591.20B | 414.95B | 275.86B | 297.35B | 214.95B | 326.29B |
| Last Close Price | 1,565.90 | 1,064.31 | 683.93 | 741.87 | 531.06 | 765.78 |
| PE Ratio | 40.09 | 37.03 | 35.23 | 34.31 | 35.74 | 48.83 |
| PS Ratio | 13.41 | 10.89 | 9.44 | 9.76 | 9.49 | 15.44 |
| PB Ratio | 23.99 | 18.14 | 14.44 | 20.00 | 22.81 | 28.33 |
| P/TBV Ratio | 31.33 | 24.57 | 20.11 | 33.12 | 58.89 | 62.00 |
| P/FCF Ratio | 25.52 | 32.10 | 29.32 | 81.81 | 27.89 | 28.88 |
| P/OCF Ratio | 23.76 | 28.11 | 23.89 | 49.42 | 23.68 | 26.48 |
| EV/Sales Ratio | 13.14 | 10.82 | 9.43 | 9.76 | 9.50 | 15.42 |
| EV/EBITDA Ratio | 32.06 | 28.81 | 27.02 | 27.52 | 28.40 | 41.04 |
| EV/EBIT Ratio | 34.09 | 31.27 | 29.53 | 29.75 | 30.94 | 43.89 |
| EV/FCF Ratio | 25.01 | 31.88 | 29.28 | 81.82 | 27.91 | 28.85 |
| Debt / Equity Ratio | 0.09 | 0.24 | 0.27 | 0.37 | 0.53 | 0.47 |
| Debt / EBITDA Ratio | 0.12 | 0.38 | 0.51 | 0.51 | 0.66 | 0.67 |
| Debt / FCF Ratio | 0.09 | 0.42 | 0.56 | 1.52 | 0.65 | 0.48 |
| Net Debt / Equity Ratio | -0.49 | -0.44 | -0.42 | -0.15 | -0.31 | -0.28 |
| Net Debt / EBITDA Ratio | -0.67 | -0.70 | -0.78 | -0.21 | -0.38 | -0.41 |
| Net Debt / FCF Ratio | -0.51 | -0.78 | -0.84 | -0.61 | -0.37 | -0.29 |
| Asset Turnover | 0.76 | 0.66 | 0.64 | 0.72 | 0.64 | 0.65 |
| Inventory Turnover | 1.52 | 1.38 | 1.40 | 1.67 | 1.69 | 1.81 |
| Quick Ratio | 0.93 | 0.73 | 0.91 | 0.88 | 0.80 | 0.99 |
| Current Ratio | 1.49 | 1.26 | 1.53 | 1.50 | 1.28 | 1.48 |
| Return on Equity (ROE) | 65.64% | 50.46% | 47.43% | 70.42% | 59.35% | 49.01% |
| Return on Assets (ROA) | 18.28% | 14.25% | 12.74% | 14.82% | 12.21% | 14.21% |
| Return on Invested Capital (ROIC) | 92.13% | 85.83% | 66.45% | 87.10% | 82.90% | 59.91% |
| Return on Capital Employed (ROCE) | 44.70% | 43.00% | 31.60% | 38.20% | 35.50% | 36.40% |
| Earnings Yield | 2.49% | 2.70% | 2.84% | 2.91% | 2.80% | 2.05% |
| FCF Yield | 3.92% | 3.12% | 3.41% | 1.22% | 3.58% | 3.46% |
| Dividend Yield | 0.51% | 0.81% | 0.94% | 0.89% | 1.14% | 0.77% |
| Payout Ratio | 20.20% | 26.54% | 32.40% | 29.96% | 45.51% | 23.26% |
| Buyback Yield / Dilution | 1.34% | 1.19% | 0.13% | 1.00% | 3.00% | 2.08% |
| Total Shareholder Return | 1.84% | 2.01% | 1.07% | 1.90% | 4.14% | 2.85% |