ASML is scheduled to release its fourth-quarter 2025 results on January 28 before markets open. Analysts project quarterly revenue of approximately €7.6 billion, representing a 12% year-over-year increase, driven by sustained demand for extreme ultraviolet (EUV) lithography tools. Consensus earnings per share estimates stand at €6.10, up from €5.30 in Q4 2024. Investors will focus on guidance for capital equipment orders, with management’s outlook on supply chain constraints and end-market demand for next-generation 3nm and 2nm chip production likely to be key drivers of share performance in the coming quarter.

ASML remains the sole supplier of EUV lithography machines, the critical equipment used to etch the smallest features on cutting-edge semiconductors. In 2025 the company shipped 34 EUV systems—each priced above €150 million—and generated 52.7% gross margins on its advanced-node product lines. With semiconductor foundries such as TSMC and Samsung ramping next-generation node production this year, ASML’s order backlog exceeded €45 billion at year-end 2025, securing visibility into revenue and cash flow through at least 2027.

ASML currently trades at a forward price-to-earnings multiple of 34, reflecting its unique market position but outpacing peers Nvidia and TSMC, which trade at 25x and 21x respectively. Wall Street consensus forecasts 15% earnings growth for ASML in the fiscal year ending December 2026 versus 51% for Nvidia and 31% for TSMC. The stock offers a 0.53% dividend yield, underscoring a capital deployment strategy that balances a modest payout with aggressive share repurchases. Investors will need to weigh the premium multiple against the company’s durable competitive moat and order-book visibility when deciding on new or additional positions heading into 2026.