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ASML Holding Q2 Earnings and Revenues Surpass Expectations

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Key Takeaways

  • ASML reported Q2 EPS of 5.90 euros, up 47.1% year over year, topping estimates by 12.8%.
  • ASML reported Q2 EPS of 5.90 euros, up 47.1% year over year, topping estimates by 12.8%.
  • ASML expects Q3 revenues between 7.4B euros and 7.9B euros and full-year sales growth of around 15%.

ASML Holding (ASML - Free Report) reported second-quarter 2025 earnings of €5.90 per share, which increased 47.1% year over year. Converted to USD, ASML’s second-quarter 2025 earnings came at $6.7 per share, which surpassed the Zacks Consensus Estimates by 12.8%.

ASML reported total net sales of €7.69 billion for the second quarter of 2025, up 23.2% year over year. Converted to USD, ASML’s second-quarter 2025 revenues were $8.7 billion, which surpassed the Zacks Consensus Estimate by 1.8%.

ASML’s Financials in Detail

Segment-wise, ASML’s Systems net sales were €5.596 billion, which contributed 72.8% to its top line, reflecting growth of 17.5% from the year-ago quarter. The Systems’ sales were mainly driven by traction in logic, followed by memory.

ASML Holding’s Services and Field segment’s net sales were pegged at €2.095 billion (27.2% of topline), up 41.4% from the prior-year quarter.

ASML Holding N.V. Price, Consensus and EPS Surprise

ASML Holding N.V. Price, Consensus and EPS Surprise

ASML Holding N.V. price-consensus-eps-surprise-chart | ASML Holding N.V. Quote

ASML’s gross margin was 53.68%, which expanded 223 basis points (bps) from the year-ago quarter.

Operating expenses were €1.47 billion, up 6.4% from the year-ago quarter. As a percentage of sales, the figure contracted 302 bps from the year-earlier quarter to 19.05%.

The non-GAAP operating margin of 34.64% expanded 525 bps year over year.

Balance Sheet & Cash Flow of ASML

As of June 29, 2025, cash, cash equivalent balances and short-term investments were €7.25 billion, down from €9.1 billion as of March 30, 2025.

Inventories were €11.58 billion in the second quarter compared with €11.02 billion in first-quarter 2025. Accounts receivables increased to €4.996 billion from €4.59 billion in the previous quarter.

The long-term debt was €3.698 billion at the end of the quarter, which changed marginally from the previous quarter’s €3.68 billion. ASML posted a net negative cash flow of €1.854 billion.

Guidance

For the third quarter of 2025, ASML expects total net sales between €7.4 billion and €7.9 billion. In terms of USD, the projection stands between $8.6 billion and $9.2 billion. The Zacks Consensus Estimate is pegged at $9.81 billion.

The company anticipates a gross margin between 50% and 52%. Research and development costs are projected to be around €1.2 billion, while selling, general and administrative expenses are expected to be approximately €310 million.

For full-year 2025, ASML expects total net sales to grow by approximately 15% year over year, with a gross margin of around 52%.

Zacks Rank and Stocks to Consider

Currently, ASML carries a Zacks Rank #3 (Hold).

ACI Worldwide (ACIW - Free Report) , Adobe (ADBE - Free Report) and Advanced Energy Industries (AEIS - Free Report) are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. ACIW, ADBE and AEIS carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ACIW shares have lost 14.8% year to date. The Zacks Consensus Estimate for ACIW’s full-year 2025 earnings is pegged at $2.84 per share, up by a penny over the past seven days, suggesting a growth of 7.58% from the year-ago quarter’s reported figure.

ADBE shares have lost 18.7% year to date. The Zacks Consensus Estimate for ADBE’s full-year fiscal 2025 earnings has been revised upward to $20.63 in the past 30 days, suggesting year-over-year growth of 12%.

AEIS shares have gained 20.5% year to date. The Zacks Consensus Estimate for AEIS’ full-year 2025 earnings is pegged at $5.16 per share, implying a rise of 39% from the year-ago quarter’s levels.

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