ASML Holding N.V. · NASDAQ-listed shares (1 ADR = 1 share) · Veldhoven, Netherlands

The only company that makes the machines that print AI chips.

ASML is the only maker of EUV lithography machines, the tools needed to print the most advanced chips. Sales rose 21% to €9.3B (about $10.8B) last quarter, and the 2026 guide was raised to €43–45B as memory and logic makers add capacity for AI. The catches: China is still about a fifth of sales and faces tighter US export rules, and the stock trades at about 55 times trailing earnings.

Last close · Oct 9, 2026

$1,780.34

Market cap

$684B

at current price

52-week range

$935–1,989

closing low / high

P/E (trailing)

~55×

TTM EPS ~$32 · forward ~31×

Revenue TTM

Q3 2026 guide

€11.0–12.0B

~$12.7–13.8B · GM 55–57% · FY €43–45B

Next earnings

Oct 14

Q3 2026 results · before the US open

Price, last 12 months

Daily closes of the NASDAQ-listed shares with the 50-day average. Each ADR is one ordinary share. ASML has closed between about $1,550 and $1,990 since June.

1Y closing high

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1Y closing low

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SMA 50

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SMA 200

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RSI 14

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Avg daily move

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last 20 sessions

Beta

1.30

vs. S&P 500

From peak

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Revenue and margins, by quarter

Revenue in US$ millions, with GAAP gross margin on the right axis. ASML reports in euros on a calendar year; each quarter is converted at that quarter's average EUR/USD rate (from about 1.01 in Q3 2022 to about 1.16–1.17 in 2025–26), so part of the dollar growth since 2025 is the stronger euro. EPS is per share (1 ADR = 1 share), converted the same way. The last bar is the midpoint of the €11.0–12.0B Q3 2026 guide at about 1.15 $/€.

RevenueGross margin (right axis)Guidance

Q2 2026

$10.8B

€9.33B · +21% YoY · above guide

EUV systems

$4.4B

€3.8B · 16 units incl. 1 High NA · ~€230M each (est.)

Installed base

$3.2B

€2.76B · ~€300M above guide on upgrades

China share

14%

of system sales · 19% in Q1, 36% in Q4 25

Bookings

n/a

no longer reported · last €13.2B (Q4 25), backlog €38.8B

EPS (diluted)

$8.81

€7.58 · +28% YoY · GM 54.0%

Quarter	Ended	Revenue, US$M	YoY	Gross margin	Op. margin	EPS (GAAP)

Watch list

What moves the thesis, sorted by direction.

Tailwind

2027 nearly sold out

Management says 2027 low-NA EUV output is close to fully covered by orders. ASML plans about 30% more EUV (from ~65 to ~85 units) and immersion DUV capacity (from ~130) in 2027.

Tailwind

Upgrades and pricing

Installed base sales of €2.76B beat guidance by about €300M as customers paid for productivity upgrades. Service and upgrade sales should grow more than 30% this year, and management says it has more room on pricing.

Watch

No bookings number

ASML stopped reporting quarterly orders in 2026. The last figure was a record €13.2B in Q4 2025, with a €38.8B backlog, so the market now leans on what management says about 2027 and 2028.

Watch

A big Q3 step-up

The €11.0–12.0B Q3 guide is about 53% above last year's €7.5B at the midpoint, with gross margin of 55–57%. Analysts expect about $13.2B of revenue.

Risk

China and the MATCH Act

China fell to 14% of Q2 system sales but is still about 20% of full-year sales. The proposed US MATCH Act would block immersion DUV sales to China and could limit servicing there.

Risk

Valuation

At about 55 times trailing earnings the stock prices in strong growth. It fell 15% in the two weeks after the July report even though guidance was raised.

Calendar

Oct 14, 2026

Q3 2026 earnings

Before the US open. Guide: €11.0–12.0B sales, 55–57% gross margin. Analysts expect about $13.2B revenue and EPS of about $12.1–12.5; first comments on 2027.

Oct 27, 2026

Interim dividend (Nasdaq ex-date)

The dividend is announced with results on Oct 14 and paid Nov 4. The last interim dividend was €1.88 per share.

Late Jan 2027

Q4 2026 earnings

Full-year results and the 2027 outlook. MarketScreener lists Jan 26; ASML has not confirmed the date.