ASML Holding(US:ASML)2026-01-28 07:00Financial Data and Key Metrics Changes - In Q4 2025, net revenue was EUR 9.7 billion, with a full-year revenue of EUR 32.7 billion, representing a 16% increase compared to 2024 [2] - Gross margin for Q4 was 52.2%, and for the full year, it was 52.8% [3] - Net income for Q4 was EUR 2.8 billion, and for the full year, it was EUR 9.6 billion [3] - Net bookings for the quarter were EUR 13.2 billion, including EUR 7.4 billion for EUV, with a total backlog of EUR 38.8 billion at the end of 2025, of which EUR 25.5 billion was for EUV [3] Business Line Data and Key Metrics Changes - Installed base business revenue for Q4 was EUR 2.1 billion, and for the full year, it was EUR 8.2 billion, driven by service revenue for EUV and strong demand for upgrades [2] - The EUV business is expected to see significant revenue growth compared to 2025, while the non-EUV system business is anticipated to remain flattish [12] Market Data and Key Metrics Changes - The market outlook has improved, particularly regarding capacity build-up for AI applications, leading to increased orders for advanced technology, especially EUV [9] - Customers in logic and DRAM sectors are accelerating their capacity planning, indicating strong demand for advanced nodes [10] Company Strategy and Development Direction - The company aims to increase EUV revenue significantly in 2026, while the non-EUV business is expected to remain stable with growth in advanced logic and memory sectors [12] - The installed base business is projected to grow, supported by the expansion of the EUV installed base and customer appetite for upgrades [14] Management's Comments on Operating Environment and Future Outlook - Management noted that customers have become more positive about medium-term market perspectives, particularly due to sustainable demand for AI [4] - The company expects net revenue for Q1 2026 to be between EUR 8.2 billion and EUR 8.9 billion, with a full-year revenue expectation of EUR 34 billion to EUR 39 billion [8] Other Important Information - The company announced an interim dividend of EUR 1.60 per share and proposed a final payment of EUR 2.70 per share, totaling EUR 7.50 per share for 2025, a 17% increase over 2024 [22] - A new share buyback program was announced for up to EUR 12 billion over three years [23] Q&A Session Summary Question: How is the technology roadmap developing for ASML? - The appetite for advanced technology from customers is very high, with significant progress in the qualification of new tools and increased utilization expected [16][18] Question: What is the long-term demand outlook for ASML? - Long-term demand is expected to be driven by AI applications requiring advanced technology in DRAM and logic, with projected revenue between EUR 44 billion and EUR 60 billion by 2030 [25]