Added to YB: 2026-04-20
Pitch date: 2026-04-16
ASML [neutral]
ASML Holding N.V.
+3.58%
current return
Author Info
No bio for this author
Company Info
ASML Holding N.V. provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems.
Market Cap
EUR 478.8B
Pitch Price
EUR 1.2K
Price Target
N/A
Dividend
0.60%
EV/EBITDA
36.22
P/E
48.11
EV/Sales
14.04
Sector
Semiconductors and Semiconductor Equipment
Category
value
ASML 1Q26 Earnings: The Bottleneck Gets Priced Differently
ASML (earnings): Q1 sales beat, raised FY26 guide to €36-40B (non-China demand drove uplift). Installed Base Mgmt (IBM) hit €2.49B (+24% YoY), €10B annualized recurring biz w/ high-margin software upgrades—being valued like lumpy hardware, not infrastructure annuity. Mgmt dropped bookings metric, signaling shift to backlog conversion model. Main risk: MATCH Act/export controls on China (20% sales). 2027 CMD likely catalyst for IBM segment disclosure = forced model rebuild. Bull: IBM re-rating + 80+ EUV systems in 2027. Bear: DUV servicing ban + TSMC capex cut.
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