ASML Holding(US:ASML) Ge Long Hui·2025-10-15 10:08Core Insights - ASML reported strong Q3 performance driven by the AI boom, with order intake of €5.4 billion exceeding expectations, revenue of €7.52 billion, and net profit of €2.13 billion also surpassing forecasts [1][2]. 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 [2]. - Net profit reached €2.13 billion (approximately ¥176 billion), down 6.4% year-on-year, slightly above the market expectation of €2.08 billion [2]. - Gross margin stood at 51.6%, a decrease of 2.1 percentage points year-on-year [2]. Orders and Sales - New orders for the quarter amounted to €5.4 billion, surpassing market expectations of €4.89 billion, with €3.6 billion attributed to EUV lithography machine orders [2]. - The company sold 66 new lithography machines during the quarter, a decrease of 1 unit year-on-year, and 6 used machines, down by 3 units [2]. Future Outlook - ASML projects Q4 2025 net sales between €9.2 billion and €9.8 billion, with a gross margin between 51% and 53% [3]. - For the full year 2025, net sales are expected to be around €32.5 billion, reflecting a year-on-year growth of approximately 15%, with a gross margin of about 52% [3]. - The company anticipates that net sales in 2026 will not be lower than the levels of 2025, with total revenue expected to reach between €44 billion and €60 billion by 2030, and gross margins projected to be between 56% and 60% [3]. Market Challenges - The CEO indicated that while the third quarter's performance was strong, there are expectations of a significant decline in customer demand and sales in the Chinese market in 2024 and 2025 [5]. - The company is currently facing dual impacts from export restrictions in the Netherlands and U.S. tariff policies [5]. Shareholder Returns - ASML will pay an interim dividend of €1.60 per share on November 6, 2025 [6]. - In Q3 2025, ASML repurchased approximately €148 million worth of shares, with a total of €5.9 billion spent on share buybacks under the current plan [6].