ASML

SPublicFounded 1984🇳🇱Veldhoven, Netherlands

CEO

Christophe Fouquet

Data verified as of Jul 15, 2026

Summary

ASML, founded in 1984 as a Philips/ASM International joint venture that built its first machine in a shed in Eindhoven, is the world's dominant supplier of photolithography systems (~83% of the market) and the only company on Earth that makes EUV machines — the $180M–$400M tools without which no leading-edge chip can be manufactured. That monopoly has made the Veldhoven company Europe's most valuable tech firm (~$693B, July 2026). 2025 revenue reached €32.7B with a record €13.2B in Q4 bookings and a €38.8B year-end backlog, and in April 2026 ASML raised its 2026 guidance to €36–40B as CEO Christophe Fouquet declared chip demand to be outpacing supply, with 60+ EUV shipments planned for the year. The next act is High-NA EUV: the first EXE:5000 shipped to Intel in December 2023, the first production-grade EXE:5200B arrived at Intel in Q4 2025 for its 14A node (risk production 2027), and Samsung, SK hynix, TSMC, and imec have early systems — fewer than a dozen exist worldwide, at roughly $380M each. TSMC has committed to High-NA from its A14 node (~2028). ASML also made an uncharacteristic strategic bet in September 2025, investing €1.3B to become the largest shareholder (~11%) of French AI lab Mistral AI. The main headwind is geopolitics: China was 33% of 2025 sales but is expected to fall to ~20% in 2026 under expanding US and Dutch export controls, with new congressional proposals targeting even DUV servicing.

Main Products

EUV Lithography (TWINSCAN NXE)

Active

The 0.33 NA extreme-ultraviolet scanners that are the only tools on Earth capable of patterning leading-edge chips from 7nm down to 2nm. The latest NXE:3800E runs 220 wafers per hour — 37% faster than its predecessor — at roughly $180M per machine; 48 EUV systems were recognized in 2025 revenue.

Shipping at scale — 60+ EUV shipments planned for 2026 on surging logic and DRAM demand

Throughput (NXE:3800E)220 wafers/hour (+37% vs NXE:3600D)

System price~$180M (NXE:3800E)

2025 EUV revenue€11.6B (+39%, 48 systems)

High-NA EUV (TWINSCAN EXE)

Active

The 0.55 NA anamorphic-optics scanners for sub-2nm chipmaking — at ~$380M each, the most expensive production tools ever built. The production-grade EXE:5200B (175 wafers/hour, ~60% faster than the EXE:5000) installed at Intel in Q4 2025 for the 14A node; Samsung, SK hynix, TSMC, and imec hold the rest of a worldwide fleet still under a dozen systems.

Early production ramp: Intel 14A risk production 2027 is the first insertion; ~10 High-NA deliveries planned in 2027; TSMC adopts at A14 (~2028)

Throughput (EXE:5200B)175 wafers/hour (~60% above EXE:5000)

System price~$380M ($350–400M installed)

Fleet<12 systems worldwide (early 2026)

DUV Lithography (TWINSCAN NXT)

Active

Deep-ultraviolet immersion and dry scanners — the workhorses that pattern the large majority of layers on every chip made, from leading-edge logic to mature automotive nodes. The flagship NXT:2100i immersion system runs 295 wafers per hour; 279 DUV systems were recognized in 2025.

Shipping at scale; China DUV sales and servicing are the focus of proposed new US restrictions

Throughput (NXT:2100i)295 wafers/hour

2025 DUV revenue€12.0B (279 systems, 47% immersion)

What's Next

Deliver the raised 2026 guidance: €36–40B

The April 2026 guidance raise implies 10–22% growth at a 51–53% gross margin, built on 60+ planned EUV shipments and customers accelerating capacity expansion — the cleanest yearly test of whether AI-driven equipment demand holds.

Year-end 2026

imec qualifies the EXE:5200 for sub-2nm

The imec research hub's newly installed EXE:5200 — one of fewer than a dozen High-NA tools worldwide — targets sub-2nm process qualification in Q4 2026, de-risking High-NA recipes for the whole industry.

Q4 2026

First High-NA production insertion: Intel 14A risk production

Intel's 14A node is the first process built around High-NA EUV, with risk production slated for 2027 and high-volume manufacturing in 2027–2028; ASML plans ~10 High-NA plus 56 Low-NA EUV deliveries in 2027 to support the ramp.

2027

TSMC adopts High-NA at A14

TSMC is skipping High-NA for its 2nm and A16 generations but has committed to it from the A14 node — the volume order flow that would cement High-NA economics beyond Intel.

~2028

Hyper-NA EUV (0.75 NA) for sub-1nm nodes

ASML's next optical leap targets ~2030, alongside a demonstrated next-generation EUV light source that could lift chip output 50% by decade's end — the projects that would extend the monopoly another decade.

~2030

Track Record

3 of 3 announced dates hit

2025 total net sales of €30–35B

Target Year-end 2025 · Resolved Jan 28, 2026

FY2025 closed at €32.7B (+~16% YoY), inside the €30–35B guidance range given in October 2024, with a record €13.2B in Q4 bookings on top.

Hit

Ship the first second-generation High-NA (EXE:5200) in 2025

Target 2025 · Resolved Dec 31, 2025

The first EXE:5200 shipment was confirmed in July 2025, and the production-grade EXE:5200B shipped and installed at Intel in Q4 2025, with two High-NA systems recognized in Q4 revenue.

Hit

Ship the first High-NA EUV system by end of 2023

Target End of 2023 · Resolved Dec 21, 2023

The first TWINSCAN EXE:5000 shipped to Intel on December 21, 2023, meeting the long-promised 2023 delivery window for the industry's first High-NA system — it arrived in Oregon in 250 crates the following month.

Hit

Recent News

View all →

Jul 15

ASML posts €9.3B Q2 sales, raises full-year 2026 outlook

ASML reported second-quarter 2026 net sales of €9.3 billion, net income of €2.9 billion and a 54.0% gross margin, and lifted its full-year revenue guidance to between €43 billion and €45 billion from prior forecasts. The Dutch lithography monopolist guided to €11-12 billion of third-quarter sales and said order intake stayed strong through the first half, helped by a record €6.86 billion booking from memory maker SK Hynix earlier in July. Citing that momentum, ASML said it plans to add about 30% to both its low-NA EUV and DUV immersion tool capacity for 2027, with a possible further 30% in 2028.

Operations & Revenue

StatusOperational — record backlog, guidance raised

Q2 2026 revenue was €9.3B at a 54.0% gross margin with €2.9B net income, and ASML again raised full-year guidance — to €43–45B, up from €36–40B — as AI-driven demand pushed customers to pull capacity plans forward, helped by a record €6.86B EUV order from SK hynix earlier in July. On that momentum ASML said it plans to add ~30% to both its low-NA EUV and DUV immersion capacity for 2027 (with a possible further 30% in 2028), guiding Q3 to €11–12B on top of a multi-year backlog. The High-NA ramp is proceeding on schedule, anchored by Intel's 14A node. Key risks: China revenue falling from 33% toward ~20% under expanding US and Dutch export controls (with new US congressional proposals targeting even DUV servicing in China), and the industry's inherent cyclicality should AI capex correct.

Revenue Streams

EUV systems (NXE + EXE)

0.33 NA and High-NA extreme-ultraviolet scanners — €11.6B in 2025 (+39%, 48 systems), roughly 35% of revenue and growing fastest as every leading-edge logic and DRAM fab expands.

DUV systems (TWINSCAN NXT/XT)

Deep-ultraviolet immersion and dry scanners that pattern the majority of layers on every chip — €12.0B in 2025 (279 systems), with China exposure making this the stream most affected by export controls.

Installed Base Management (service & upgrades)

Service contracts, spares, software, and performance upgrades across the global fleet — €8.2B in 2025 (~25% of revenue), the recurring stabilizer that keeps growing even in downturns (€2.5B in Q1 2026 alone).

Metrology & inspection

YieldStar optical metrology and HMI e-beam inspection systems that close the litho control loop — the remaining ~€1B of 2025 sales.

Key Metrics

Employees

44,209 FTE (as of Dec 31, 2025)

Est. Annual Revenue

€32.7B (FY2025); 2026 guided to €43–45B (raised at Q2 2026)

EUV market share

100% — sole producer of EUV lithography machines

Overall lithography market share

~83% of worldwide system sales

2025 revenue

€32.7B (net income €9.6B; gross margin 52.8%)

Q2 2026 revenue

€9.3B (net income €2.9B; gross margin 54.0%); Q3 guided to €11–12B

Order backlog

€38.8B (end of 2025; record €13.2B Q4 bookings)

Market cap

~$693B (Jul 2026) — Europe's most valuable tech company

2025 systems delivered

48 EUV + 279 DUV revenue-recognized

High-NA fleet worldwide

<12 systems (Intel, TSMC, Samsung, SK hynix, imec)

China revenue share

33% (2025) → ~20% expected (2026)

Timeline

20262026 guidance raised to €36–40B on AI demand

Q1 2026 delivers €8.8B in sales at a 53% gross margin, and ASML raises full-year guidance from €34–39B to €36–40B — Fouquet: 'demand for chips is outpacing supply. Our customers are accelerating capacity expansion plans for 2026 and beyond.'

2025€1.3B investment makes ASML Mistral AI's largest shareholder

On September 9, 2025, ASML leads Mistral's €1.7B Series C at a ~€11.7B valuation, taking ~11% and a board seat — an uncharacteristic strategic bet pairing Europe's chip champion with its leading AI lab.

2025First production High-NA ships; record Q4 bookings

The production-grade EXE:5200B ships and installs at Intel in Q4 2025 for the 14A node, with two High-NA systems recognized in revenue; Q4 net bookings hit a record €13.2B (€7.4B EUV) and FY2025 closes at €32.7B with a €38.8B backlog.

2024Christophe Fouquet becomes President & CEO

Fouquet, who joined ASML in 2008 and previously ran the EUV business, succeeds Peter Wennink in April 2024.

2023First High-NA EUV system ships to Intel

On December 21, 2023, ASML ships the industry's first High-NA system (TWINSCAN EXE:5000, 0.55 NA) to Intel in Oregon — it arrives in 250 crates — opening the sub-2nm era.

2017First production-ready EUV system ordered in volume

The NXE:3400 becomes the first EUV machine ordered in volume for production use, after two decades and billions of euros of development — the 100th EUV system ships in early 2020.

2013Acquires EUV light-source maker Cymer for $2.55B

ASML buys San Diego-based Cymer, vertically integrating the laser-produced-plasma light source that is EUV's hardest subsystem; e-beam metrology firm Hermes Microvision follows in 2016 for $3.1B.

2012Intel, TSMC, and Samsung co-fund EUV development

With EUV's cost threatening to sink it, ASML's three biggest customers buy in — Intel alone invests $4.1B for 15% — funding the decade-long push to make extreme-ultraviolet lithography work.

2001TWINSCAN dual-stage architecture launches

TWINSCAN exposes one wafer while measuring the next — a throughput breakthrough that remains the basis of every ASML system; the company also acquires Silicon Valley Group the same year.

1995IPO on Amsterdam and New York exchanges

ASML goes public, becoming fully independent as Philips divests over the following years — today it is dual-listed on Euronext Amsterdam and Nasdaq.

1991PAS 5500 breakthrough makes ASML profitable

The PAS 5500 platform wins key customers and turns the struggling venture profitable — the foundation of ASML's rise against then-dominant Japanese rivals Nikon and Canon.

1984Founded as a Philips/ASM joint venture — in a shed

ASM Lithography launches as a 50/50 joint venture of Philips and ASM International, building its first stepper (PAS 2000) in a shed next to a Philips office in Eindhoven.

Funding

Round	Date	Amount	Investors
Founding joint venture	1984	50/50 JV	Philips and ASM International
IPO (Amsterdam + Nasdaq)	Mar 1995	IPO	Public markets; Philips divested over the following years
Customer co-investment program	2012	$4.1B from Intel alone (15% stake)	Intel, TSMC, Samsung — funding EUV development