Q4 2025 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported strong financial results for the fourth quarter of 2025, with total net sales reaching EUR9.7 billion, aligning with their guidance.
- The company achieved a gross margin of 52.2% for the fourth quarter, which was within their expected range.
- ASML Holding NV (ASML) saw a significant increase in net bookings for the fourth quarter, totaling EUR13.2 billion, indicating strong demand for their products.
- The company ended the year with a robust backlog of around EUR38.8 billion, providing a solid foundation for future revenue.
- ASML Holding NV (ASML) announced a new share buyback program, aiming to repurchase shares up to EUR12 billion by December 31, 2028, demonstrating confidence in their financial position.
- Research and Development (R&D) expenses were slightly higher than expected at EUR1.3 billion due to higher nonrecurring personnel costs.
- Selling, General and Administrative (SG&A) expenses exceeded guidance at EUR375 million, driven by higher salary-related costs and IT spending.
- The effective tax rate for the fourth quarter was 18%, slightly higher than the annualized rate of 17.7% for 2025.
- ASML Holding NV (ASML) faces challenges in ramping up production capacity, with gradual increases in move rates required to meet demand.
- The company anticipates potential constraints in immersion tool supply, which could impact gross margins negatively.
Good day, and thank you for standing by. Welcome to the ASML 2025 fourth quarter and full year financial results conference call on January 28, 2026. (Operator Instructions). I would now like to hand the conference over to Mr. Jim Kavanagh. Please go ahead.
Thank you, operator. Welcome, everyone. This is Jim Kavanagh, Head of Investor Relations at ASML. Joining me today on the call are ASML's CEO, Christophe Fouquet; and our CFO, Roger Dassen. The subject of today's call is ASML's 2025 fourth quarter and full year results.
The length of this call will be 60 minutes, and questions will be taken in the order that they are received. This call is also being broadcast live over the Internet at www.asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call.
Before we begin, I would like to caution listeners that comments made
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