ASML Holding(US:ASML) Ge Long Hui·2025-10-15 10:02Core Insights - ASML reported strong Q3 performance driven by the AI boom, with quarterly orders of €5.4 billion exceeding expectations, revenue of €7.52 billion, and net profit of €2.13 billion also surpassing forecasts [1][3] Financial Performance - Q3 revenue was €7.52 billion (approximately ¥623 billion), a year-on-year decline of 2.3%, while market expectations were €7.71 billion [3] - Net profit reached €2.13 billion (approximately ¥176 billion), down 6.4% year-on-year, slightly above the market expectation of €2.08 billion [3] - Gross margin stood at 51.6%, a decrease of 2.1 percentage points year-on-year [3] Orders and Sales - New orders for the quarter amounted to €5.4 billion, exceeding the market expectation of €4.89 billion, with €3.6 billion attributed to EUV lithography machine orders [3] - The company sold 66 new lithography machines, a decrease of 1 unit year-on-year, and 6 used machines, down by 3 units [3] Future Outlook - ASML expects Q4 2025 net sales to be between €9.2 billion and €9.8 billion, with a gross margin between 51% and 53% [4] - For the full year 2025, net sales are projected to be around €32.5 billion, representing a year-on-year growth of approximately 15%, with a gross margin of about 52% [4] - The company anticipates that net sales in 2026 will not be lower than the levels of 2025, and total revenue could reach between €44 billion and €60 billion by 2030, with gross margins expected to be between 56% and 60% [5] Market Challenges - The CEO indicated that despite a strong Q3, there are expectations of a significant decline in customer demand and sales in the Chinese market in 2024 and 2025 [7] - The company is currently facing dual impacts from export restrictions in the Netherlands and U.S. tariff policies [7] Shareholder Returns - ASML will pay an interim dividend of €1.60 per share on November 6, 2025 [9] - In Q3 2025, ASML repurchased approximately €148 million worth of shares, with a total of €5.9 billion repurchased under the current plan as of September 28, 2025 [10]