ASML Backlog Tracker Q424_ Restoring some balance

EU Semiconductors ASML Holding NV Rating Our analysis leads us to conclude that our 2025 estimates are covered by the current backlog, assuming that all non-EUV bookings are for 2025. There is a risk that some have been pushed to 2026, but as lead times for these systems are typically 6-9 months, we believe the risk that the backlog would not be covered in time is low. This also implies that ASML still needs just over 19B of bookings to cover the 2026 backlog for our estimates, with just over 7B (or ~32 uni ...