ASML financial statements

The full income statement, balance sheet, and cash-flow statement for ASML Holding N.V. (ADR) (ASML), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2017-12 427.4M2018-12 421.1M2019-12 419.8M2020-12 416.5M2021-12 402.6M2022-12 394.6M2023-12 393.4M2024-12 393.3M2025-12 385.4M-9.8% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	37.0B YoY+20.9%	30.6B YoY+2.6%	29.8B YoY+33.9%	22.3B YoY+1.1%	22.0B YoY+38.1%
	19.5B YoY+24.5%	15.7B YoY+2.6%	15.3B YoY+35.9%	11.2B YoY-3.0%	11.6B YoY+49.7%
Cost of revenue	17.4B YoY+17.0%	14.9B YoY+2.7%	14.5B YoY+31.8%	11.0B YoY+5.8%	10.4B YoY+27.2%
Research & development	5.32B YoY+14.2%	4.66B YoY+8.2%	4.31B YoY+25.9%	3.42B YoY+13.5%	3.01B YoY+20.1%
Selling, general & administrative	1.42B YoY+12.8%	1.26B YoY+4.8%	1.20B YoY+21.1%	994M YoY+15.9%	858M YoY+38.2%
Amortization of intangibles	140M YoY+2.5%	136M YoY-1.2%	138M YoY-2.8%	142M YoY-9.7%	157M YoY+11.7%
Operating income	12.8B YoY+31.0%	9.76B YoY-0.2%	9.78B YoY+43.1%	6.83B YoY-14.4%	7.98B YoY+72.9%
Interest expense	134M YoY-23.9%	176M YoY+6.5%	165M YoY+158.3%	63.9M YoY-1.0%	64.6M YoY+30.8%
Interest & investment income	252M YoY+27.9%	197M YoY-5.9%	210M YoY+1131.2%	17.0M YoY+44.0%	11.8M
Equity-method income	245M YoY+8.0%	227M YoY+9.7%	207M YoY+42.6%	145M YoY-38.4%	236M YoY+133.2%
Pre-tax income	12.9B YoY+31.9%	9.78B YoY-0.4%	9.82B YoY+44.7%	6.79B YoY-14.4%	7.93B YoY+73.2%
Income tax	2.28B YoY+25.3%	1.82B YoY+17.1%	1.55B YoY+52.3%	1.02B YoY-15.6%	1.21B YoY+92.2%
Net income	10.9B YoY+32.7%	8.19B YoY-3.4%	8.48B YoY+43.4%	5.91B YoY-15.0%	6.96B YoY+71.8%
	$27.96 YoY+34.3%	$20.82 YoY-3.2%	$21.51 YoY+44.8%	$14.86 YoY-12.4%	$16.96 YoY+75.5%
EPS (basic)	$27.99 YoY+34.4%	$20.83 YoY-3.3%	$21.53 YoY+44.8%	$14.87 YoY-12.5%	$16.99 YoY+75.5%
	389M YoY-1.2%	393M YoY-0.1%	394M YoY-1.0%	398M YoY-3.0%	410M YoY-2.0%
	389M YoY-1.2%	394M YoY-0.1%	394M YoY-1.0%	398M YoY-3.0%	410M YoY-2.1%
Dividends per share	$7.49 YoY+8.1%	$6.93 YoY+5.0%	$6.60 YoY+8.2%	$6.10 YoY-6.3%	$6.51 YoY+107.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	36.0B YoY+12.2%	32.1B YoY+18.7%	27.0B YoY+9.8%	24.6B YoY+19.0%	20.7B YoY+5.9%
Cash & equivalents	15.2B YoY+14.2%	13.3B YoY+71.3%	7.75B YoY+0.1%	7.75B YoY-1.9%	7.90B YoY+6.5%
Accounts receivable	3.55B YoY-24.0%	4.67B YoY-2.7%	4.80B YoY-15.5%	5.68B YoY+65.0%	3.44B YoY+114.3%
Inventory	13.4B YoY+18.2%	11.4B YoY+16.0%	9.80B YoY+27.6%	7.68B YoY+30.5%	5.88B YoY+5.1%
Prepaid expenses	1.68B YoY-16.8%	2.02B YoY+15.8%	1.75B YoY-0.3%	1.75B YoY+54.1%	1.14B YoY+15.7%
Other current assets	412M YoY+104.1%	202M YoY+97.0%	102M YoY-64.0%	284M YoY+68.0%	169M YoY+49.0%
	59.4B YoY+17.2%	50.7B YoY+14.6%	44.2B YoY+14.3%	38.7B YoY+12.7%	34.3B YoY+2.8%
Property, plant & equipment	9.27B YoY+29.8%	7.14B YoY+17.4%	6.08B YoY+44.6%	4.20B YoY+24.1%	3.39B YoY+11.9%
Operating lease right-of-use	—	—	—	—	181M YoY-17.9%
Goodwill	5.39B YoY+12.6%	4.79B YoY-5.8%	5.08B YoY+4.6%	4.86B YoY-6.2%	5.18B YoY-8.8%
Intangible assets	571M YoY-11.9%	648M YoY-21.1%	821M YoY-8.6%	898M YoY-17.0%	1.08B YoY-15.8%
Deferred tax assets	2.02B YoY-0.2%	2.02B YoY-2.3%	2.07B YoY+16.2%	1.78B YoY+42.9%	1.25B YoY+51.7%
Other non-current assets	14.9M YoY-49.5%	29.5M YoY+96.1%	15.1M YoY-11.2%	17.0M YoY-0.5%	17.0M YoY-6.7%
Total non-current assets	23.4B YoY+25.9%	18.6B YoY+8.1%	17.2B YoY+22.1%	14.1B YoY+3.2%	13.7B YoY-1.5%
	28.5B YoY+36.3%	20.9B YoY+16.1%	18.0B YoY-6.0%	19.2B YoY+37.2%	14.0B YoY+72.7%
Accounts payable	4.14B YoY+13.3%	3.65B YoY+40.5%	2.60B YoY-5.0%	2.73B YoY+13.7%	2.40B YoY+42.4%
Deferred revenue	18.8B YoY+43.4%	13.1B YoY+3.5%	12.7B YoY-4.8%	13.3B YoY+47.6%	9.01B YoY+86.1%
Short-term & current debt	1.98B YoY+87.5%	1.05B	—	796M YoY+37.5%	578M YoY+2965.0%
Current lease liability	—	—	—	—	49.6M YoY-12.9%
Other current liabilities	3.02B YoY+7.6%	2.80B YoY+16.3%	2.41B YoY+20.5%	2.00B YoY+22.6%	1.63B YoY+16.1%
Finance lease liability (current)	—	—	—	—	3.29M YoY-42.8%
	36.4B YoY+15.8%	31.4B YoY+7.1%	29.3B YoY+0.1%	29.3B YoY+28.4%	22.8B YoY+39.0%
Long-term debt	3.18B YoY-17.0%	3.84B YoY-25.2%	5.13B YoY+36.8%	3.75B YoY-19.1%	4.63B YoY-19.0%
Deferred revenue (non-current)	3.95B YoY-32.6%	5.87B YoY+9.8%	5.34B YoY-4.9%	5.62B YoY+53.3%	3.66B YoY+82.4%
Non-current lease liability	—	—	—	—	134M YoY-15.7%
Operating lease liability (total)	—	—	251M YoY+19.9%	210M YoY+14.2%	184M YoY-15.0%
Finance lease liability (total)	19.4M YoY+10.0%	17.6M	—	—	5.91M YoY-62.3%
Finance lease liability	—	—	—	—	2.61M YoY-73.7%
Other non-current liabilities	508M YoY+5.9%	479M YoY+7.9%	444M YoY-8.4%	485M YoY+70.0%	285M YoY-9.6%
Total non-current liabilities	7.86B YoY-25.1%	10.5B YoY-7.3%	11.3B YoY+11.7%	10.1B YoY+14.5%	8.85B YoY+6.3%
	23.0B YoY+19.5%	19.3B YoY+29.4%	14.9B YoY+58.5%	9.39B YoY-18.5%	11.5B YoY-32.2%
Additional paid-in capital	4.82B YoY+14.2%	4.22B YoY-4.6%	4.43B YoY+5.3%	4.20B YoY-4.6%	4.40B YoY-4.9%
Retained earnings	20.7B YoY+37.4%	15.0B YoY+9.7%	13.7B YoY+42.1%	9.64B YoY+2.1%	9.45B YoY-28.1%
Treasury stock	2.65B YoY+433.1%	496M YoY-86.4%	3.66B YoY-26.0%	4.95B YoY+79.8%	2.75B YoY+160.2%
Accumulated other comprehensive income	160M YoY-66.3%	474M YoY+24.0%	382M YoY-16.4%	457M YoY+20.5%	379M YoY+72.4%
Total liabilities & equity	59.4B YoY+17.2%	50.7B YoY+14.6%	44.2B YoY+14.3%	38.7B YoY+12.7%	34.3B YoY+2.8%
	385M YoY-2.0%	393M YoY-0.0%	393M YoY-0.3%	395M YoY-2.0%	403M YoY-3.3%
	385M YoY-2.0%	393M YoY-0.0%	393M YoY-0.3%	395M YoY-2.0%	403M YoY-3.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	14.3B YoY+18.6%	12.1B YoY+105.2%	5.89B YoY-34.0%	8.92B YoY-30.4%	12.8B YoY+143.2%
Depreciation & amortization	1.16B YoY+16.8%	994M YoY+24.2%	800M YoY+30.4%	614M YoY+10.1%	557M YoY-0.4%
Intangible amortization	140M YoY+2.5%	136M YoY-1.2%	138M YoY-2.8%	142M YoY-9.7%	157M YoY+11.7%
Share-based compensation	229M YoY+22.6%	187M YoY+28.1%	146M YoY+101.3%	72.4M YoY-47.9%	139M YoY+126.2%
Deferred income taxes	18.4M YoY+125.8%	-71.6M YoY+69.5%	-235M YoY+57.6%	-554M YoY-27.6%	-434M YoY-64.5%
Change in receivables	-1.60B YoY-1158.1%	151M YoY+114.6%	-1.04B YoY-142.2%	2.46B YoY+18.4%	2.08B YoY+458.8%
Change in inventory	942M YoY-53.2%	2.01B YoY+13.1%	1.78B YoY-18.6%	2.19B YoY+282.8%	572M YoY-29.1%
Change in payables	15.2M YoY-98.8%	1.22B YoY+531.1%	-283M YoY-166.3%	427M YoY-49.8%	850M YoY+123.0%
	-4.28B YoY-51.4%	-2.82B YoY+2.9%	-2.91B YoY-168.9%	-1.08B YoY-1170.2%	-85.2M YoY+94.5%
Capital expenditure	1.78B YoY-20.4%	2.24B YoY-4.1%	2.33B YoY+73.0%	1.35B YoY+26.5%	1.07B YoY-2.9%
Free cash flow	12.5B YoY+27.4%	9.85B YoY+176.9%	3.56B YoY-53.1%	7.58B YoY-35.6%	11.8B YoY+181.5%
Acquisitions	0.00	0.00 YoY-100.0%	36.3M	0.00	0.00 YoY-100.0%
Sales/maturities of investments	6.00M YoY-98.2%	330M YoY+143.1%	136M YoY-85.1%	909M YoY-57.9%	2.16B YoY+39.4%
	-9.81B YoY-220.2%	-3.06B YoY+5.7%	-3.25B YoY+56.7%	-7.51B YoY+35.9%	-11.7B YoY-1263.0%
Long-term debt issued	853M YoY+3405.5%	24.3M YoY-97.7%	1.08B YoY+107.1%	521M	0.00 YoY-100.0%
Long-term debt repaid	0.00	0.00 YoY-100.0%	814M YoY+50.0%	543M YoY+3692.0%	14.3M YoY+280.5%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	6.73B YoY+1144.5%	541M YoY-50.0%	1.08B YoY-77.8%	4.88B YoY-51.8%	10.1B YoY+635.6%
Dividends paid	2.89B YoY+8.7%	2.65B YoY+4.5%	2.54B YoY-5.6%	2.69B YoY+66.3%	1.62B YoY+33.1%
FX effect on cash	-34.1M YoY-591.9%	6.93M YoY+146.4%	-14.9M YoY-357.9%	-3.26M YoY-113.6%	24.0M YoY+497.4%
Net change in cash	204M YoY-96.7%	6.20B YoY+2275.3%	-285M YoY-185.7%	333M YoY-68.8%	1.07B YoY-62.8%
Interest paid	130M YoY-25.2%	173M YoY+16.2%	149M YoY+72.4%	86.4M YoY-12.0%	98.2M YoY+34.4%
Income taxes paid	1.83B YoY+54.4%	1.19B YoY-57.2%	2.78B YoY+52.3%	1.82B YoY+24.8%	1.46B YoY+97.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	412B YoY+51.3%	273B YoY-8.7%	299B YoY+35.8%	220B YoY-31.4%	321B YoY+57.8%
P/E	37.9× YoY+14.0%	33.3× YoY-34.1%	50.5× YoY+59.8%	31.6× YoY-31.4%	46.1× YoY-8.1%
P/S	11.2× YoY+25.1%	8.9× YoY-33.6%	13.4× YoY+34.3%	10.0× YoY-31.4%	14.6× YoY+14.2%
P/B	17.9× YoY+26.5%	14.1× YoY-55.5%	31.8× YoY+66.5%	19.1× YoY-31.4%	27.8× YoY+132.7%
P/FCF	32.9× YoY+18.7%	27.7× YoY-29.8%	39.4× YoY+110.8%	18.7× YoY-31.4%	27.2× YoY-44.0%
	2.6% YoY-12.3%	3.0% YoY+51.8%	2.0% YoY-37.4%	3.2% YoY+45.7%	2.2% YoY+8.9%
	3.0% YoY-15.8%	3.6% YoY+42.4%	2.5% YoY-52.6%	5.3% YoY+45.7%	3.7% YoY+78.4%
	0.70% YoY-30.0%	1.00% YoY+14.6%	0.87% YoY-21.9%	1.1% YoY+36.6%	0.82% YoY+27.1%
Source filing	20-F	20-F	20-F	20-F	20-F

About this data

Source: ASML's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ASML filings on SEC EDGAR → Not investment advice.