Coverage summary
Aardvark Labs Capital Research has covered ASML Holding N.V. (ASML) since July 17, 2025. The company is in the Technology sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published October 18, 2026. The current rating is Outperform, unchanged since the Q3 2025 Earnings Recap of October 16, 2025. The rating has changed once since coverage began.
Translations: 6 in Chinese, 1 in Japanese and 1 in Korean.
The Excel model for ASML holds 23 quarters and 5 fiscal years of history and 9 quarters and 5 fiscal years of projections. It was last updated October 19, 2026.
Rating history
All ASML reports
Recap: Q3 2026
Record €11.7B Quarter at 57.5% Margin, Q4 Guided to €14.2-15.2B, Price Increases Signed and 2028 Capacity Under Study Above +30%. The Semicap Tape Sold It Anyway. Maintaining Outperform.
Recap: Q2 2026
FY2026 Guide Blown Through to €43-45B With Margin to 54-56%, 2027 Nearly Sold Out at ~85 EUV Units, the 2030 Framework Reached Four Years Early. Amsterdam Still Closed Red. Maintaining Outperform.
Recap: Q1 2026
Q1 Top of Guide, FY2026 Raised + Narrowed to €36-40B, Non-EUV Upgraded From Flattish to Increase, 2027 Capacity 80+ EUV Low NA Units, 1,000-Watt Source Demonstrated, Memory Constraint Extends Beyond 2026 — Maintaining Outperform
Recap: Q4 2025
Q4/FY2025 Record on Every Metric, FY2026 Guide €34-39B (+12% Midpoint) Replaces "Not Below 2025", New €12B 3-Year Buyback Program, Memory CapEx Cycle Accelerating, NVIDIA Wafer Demand 4x by 2027 — Maintaining Outperform
Recap: Q3 2025
Q3 EUV Bookings €3.6B Reaccelerate +57% QoQ, 2026 Framework Upgraded From "Cannot Confirm" to "Not Below 2025", Q4 Guide €9.2-9.8B Implies Largest Sequential Ramp in 8+ Quarters, Mistral AI 11% Stake — Upgrading to Outperform on Multi-Quarter Framework Restoration
Recap: Q2 2025
Q2 Print Tops Guide But Management Cannot Confirm 2026 Growth on Tariff Uncertainty, €1.4B China Backlog Cancellations, EUV Growth Revised to ~30% From ~40% — Initiating Hold (CB) on the Cleanest EUV Monopoly Plus Concrete Near-Term Uncertainty