Slide 1: ASML 2025 fourth-quarter and full-year results
ASML reports €32.7 billion total net sales and €9.6 billion net income in 2025 ASML expects 2026 total net sales to be between €34 billion and €39 billion, with a gross margin between 51% and 53% ASML 2025 fourth-quarter and full-year results Veldhoven, the Netherlands January 28, 2026
Slide 2: Agenda
Agenda • Investor key messages • Business summary • Outlook • Financial statements January 28, 2026 Page 2 Public
Slide 3: Investor key messages
Investor key messages January 28, 2026 Page 3
Slide 4: Investor key messages
Investor key messages1 • The semiconductor industry remains strong, driven by artificial intelligence adoption across an expanding applications space and is expected to surpass $1 trillion in revenue by 2030 • The industry will require major innovations to address AI power consumption and cost chall
Slide 5: Business summary
Business summary January 28, 2026 Page 5
Slide 6: Q4 results summary
Q4 results summary Q4 2025 Total net sales €9.7 billion Net system sales €7.6 billion Installed Base Management1 sales €2.1 billion Gross Margin 52.2% Operating margin2 35.3% Net income as a percentage of total net sales 29.2% Earnings per share (basic) €7.35 Net bookings3 €13.2 billion of which EUV
Slide 7: 2025 - Business summary
2025 - Business summary ASML: • Total net sales of €32.7 billion at 52.8% gross margin • Net income at €9.6 billion resulted in an earnings per share (basic) of €24.73 • Returned €8.5 billion to shareholders through dividends and share buybacks • Invested €1.3 billion in Mistral AI, a strategic part
Slide 8: Net system sales breakdown (Quarterly)
Net system sales breakdown (Quarterly) Q4’25 Net system sales €7,584 million Q3’25 Net system sales €5,554 million January 28, 2026 Page 8 Public
Slide 9: Net system sales breakdown (Yearly)
Net system sales breakdown (Yearly) 2025 Net system sales €24,474 million 2024 Net system sales €21,769 million January 28, 2026 Page 9 Public
Slide 10: Total net sales by End-use
Total net sales by End-use Installed Base Management1 Logic Memory 1 Installed Base Management equals our net service and field option sales. January 28, 2026 Page 10 Public
Slide 11: Net bookings activity by End-use
Net bookings1 activity by End-use (quarterly) Q4’25 net bookings €13,158 million Q3’25 net bookings €5,399 million 1 Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. January 28, 2026 Page 11 Public
Slide 12: Backlog in Value (for the period-ended)
Backlog1 in Value (for the period-ended) End use Technology FY 2025 total value €38,797 million FY 2024 total value €35,938 million 1 Backlog contains accumulated sales values for all system sales orders and inflation-related adjustments, for which written authorizations have been accepted, and not
Slide 13: Cash return to shareholders
Cash return to shareholders • ASML intends to declare a total dividend for the year 2025 of €7.50 per ordinary share. An interim dividend of €1.60 per ordinary share will be made payable on February 18, 2026 • Recognizing this (third) interim dividend and the two interim dividends of €1.60 per ordin
Slide 14: Outlook
Outlook January 28, 2026 Page 14
Slide 15: Outlook
Outlook Q1 2026 Total net sales between €8.2 billion and €8.9 billion of which Installed Base Management1 sales around €2.4 billion Gross margin between 51% and 53% R&D costs around €1.2 billion SG&A costs around €0.3 billion FY 2026 Total net sales between €34 billion and €39 billion Gross margin b
Slide 16: Financial Statements
Financial Statements January 28, 2026 Page 16
Slide 17: Consolidated statements of operations
Consolidated statements of operations Quarter on Quarter (in millions €, except otherwise indicated) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Total net sales 9,263 7,742 7,692 7,516 9,718 Gross profit 4,790 4,180 4,130 3,880 5,068 Gross margin % 51.7 54.0 53.7 51.6 52.2 R&D costs (1,116) (1,161) (1,1
Slide 18: Consolidated statements of operations
Consolidated statements of operations Year on Year (in millions €, except otherwise indicated) 2021 2022 2023 2024 2025 Total net sales 18,611 21,173 27,559 28,263 32,667 Gross profit 9,809 10,700 14,136 14,492 17,258 Gross margin % 52.7 50.5 51.3 51.3 52.8 Other income 1 214 — — — — R&D costs (2,54
Slide 19: Consolidated statements of cash flows
Consolidated statements of cash flows Quarter on Quarter (in millions €) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Cash and cash equivalents, beginning of period 4,979 12,736 9,098 7,243 5,126 Net cash provided by (used in) operating activities 9,545 (59) 748 559 11,410 Net cash provided by (used in)
Slide 20: Consolidated statements of cash flows
Consolidated statements of cash flows Year on Year (in millions €) 2021 2022 2023 2024 2025 Cash and cash equivalents, beginning of period 6,049 6,952 7,268 7,005 12,736 Net cash provided by (used in) operating activities 10,847 8,487 5,443 11,166 12,659 Net cash provided by (used in) investing acti
Slide 21: Consolidated balance sheets
Consolidated balance sheets Quarter End (in millions €) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Assets Cash & cash equivalents and short-term investments 12,741 9,103 7,248 5,128 13,322 Accounts receivable and finance receivables, net 4,877 5,132 5,703 6,030 3,649 Contract assets 321 407 275 367 441
Slide 22: Consolidated balance sheets
Consolidated balance sheets Year End (in millions €) 2021 2022 2023 2024 2025 Assets Cash & cash equivalents and short-term investments 7,590 7,376 7,010 12,741 13,322 Accounts receivable and finance receivables, net 4,597 6,680 5,774 4,877 3,649 Contract assets 165 132 240 321 441 Inventories, net
Slide 23: Forward looking statements
Forward looking statements This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including expected trends in the semi
Slide 24: ASML
ASML