ASML's revenue rebounded from a -21.6% contraction in 2024Q1 to +55.2% growth in 2026Q3 ($5.3B to $11.7B quarterly), supported by what appears to be a powerful EUV/High-NA adoption cycle that has lifted gross margin 640bps to 57.4% and operating margin to 44.4% on a largely fixed R&D/SG&A base that grew only 21% over…
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Revenue growth accelerated to +55.2% in 2026Q3 with gross margin at a peak 57.4% and operating margin at 44.4%, reflecting operating leverage as R&D plus SG&A grew only 21% while operating income expanded 3.7x since 2024Q1 — a combination that warrants investigation given ASML's simultaneous peak in growth and margins alongside skipped forward guidance.
ASML is the world's leading producer of lithography systems, positioning it to benefit from the booming AI infrastructure market as data centers upgrade.
The recovery and expansion of the memory market, particularly for high-bandwidth memory (HBM) chips, is expected to boost ASML's sales of advanced EUV systems.
ASML raised its 2026 revenue guidance and has a backlog of orders valued at approximately $46.4 billion at the end of 2025, providing revenue visibility.
The proposed MATCH Act could ban exports of ASML's DUV lithography machines to China, impacting revenue from a region that was substantial in 2025.
ASML's stock is trading at a high earnings multiple, raising risks that valuation compression could limit stock price gains if growth estimates are not met.
ASML faces long-term risks of reaching physical limits in lithography and potential competition from China developing its own EUV technology.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 14, 2026 | $14.89+19.4% vs $12.47 | $13.0B-1.3% vs $13.1B |
Q3 2026 Jul 15, 2026 | $8.68+8.8% vs $7.98 | $10.7B+4.2% vs $10.2B |
Q2 2026 Apr 15, 2026 | $8.37+8.4% vs $7.72 | $10.3B+2.4% vs $10.1B |
Q1 2026 Jan 28, 2026 | $8.55-5.4% vs $9.04 | $11.6B+3.8% vs $11.2B |
ASML is the only company in the world capable of making the lithography machines used to manufacture AI chips. The stock has averaged a 23% annualized return over the past 20 years and a 20% annualized return over the past 30.
ASML holds a global monopoly on the extreme ultraviolet lithography machines required to manufacture the most advanced microchips. Marvell Technology is a leading provider of data infrastructure and connectivity solutions designed for the artificial intelligence era.
ASML (ASML) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The demand for ASML's machines has increased significantly, as they are used to manufacture advanced chips for AI applications. TSMC is the world's largest semiconductor foundry, and it has a strong clientele that uses its advanced process nodes to make AI chips.
Benchmark ASML against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for ASML Holding N.V. (ASML)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1424.75 | $549.12B | 51.59 | 15.58% | 29.42% | 50.47% | 0.49% | |
| $332.72 | $264.16B | 38.42 | 4.39% | 30.05% | 40.44% | 0.51% | |
| $200.44 | $250.66B | 34.80 | 26.02% | 32.34% | 71.75% | 0.5% | |
| $138.49 | $180.91B | 37.84 | 11.71% | 36.25% | 87.02% | 0.58% | |
| $173.28 | $8.62B | 62.33 | 1.82% | 11.84% | 6.5% | — | |
| $38.49 | $1.82B | -24.21 | 12.74% | -3.97% | -2.9% | — |
ASML Holding N.V. (ASML) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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ASML Holding N.V. (ASML) stock FAQ — growth, dividends, profitability & financials explained
ASML Holding N.V. (ASML) reported $39.47B in revenue over the trailing twelve months. Revenue was $32.67B in fiscal year 2025. That is 5174% more than the $619.4M of fiscal year 1996.
ASML Holding N.V. (ASML) grew revenue by 15.6% in fiscal year 2025, compared with the prior fiscal year.
Yes. ASML Holding N.V. (ASML) earned $13.47B in net income over the trailing twelve months (a 34.1% net margin).
Yes. ASML Holding N.V. (ASML) pays a dividend that yields 0.49% at the current price, a small yield.
ASML Holding N.V. (ASML) had a return on equity (ROE) of 50.5% in fiscal year 2025. That is well above the market's typical 10-15%.
ASML Holding N.V. (ASML) generated $20.75B in free cash flow over the trailing twelve months.
