Aslan Research · Chip equipment
ASML HOLDING NV (ASML)
Data as of 2026-08-21 · 29 quarters · filed in EUR · outside the industry averages
Revenue reached €35.3 billion over the trailing year, versus €20.4 billion of expenses. Revenue also grew 19% per year, ahead of expense growth at 14%.
Earned, collected early, and merely signed
Reports €3.7B of debt; has promised €3.7B
Committed money matches reported debt at 1.0x. The €3.7 billion committed total is entirely debt, with no additional lease or purchase commitments shown.
What the promised total is made of, latest quarter
Spending, by reported line
When the promises come due
Debt and other commitments due in the next five years equal 0.7x the future revenue promised over that period. A further €507 million is due after year five, while deferred revenue stands at €13.9 billion.
The rates that matter
Expenses as filed vs after cited reconciliation
33 patterns worth a second look
The filings show financing for Carl Zeiss SMT GmbH alongside substantial purchases and supplier-cost concentration with that related party. The data review also dropped figures where extraction passes disagreed, affecting two of 29 quarters.
circular financing · 1
The filings show ASML financing Carl Zeiss SMT GmbH while also reporting substantial purchases and supplier-cost concentration with that related party.
extraction disagreement · 26
6-K a20200415q1presentationf.htm: the two extraction passes read ocf for 2019-03-31 as -481000000 vs 481000000; the figure was dropped.
6-K a20200415q1presentationf.htm: the two extraction passes read ocf for 2020-03-31 as -606000000 vs 606000000; the figure was dropped.
6-K a20200415q1presentationf.htm: the two extraction passes read cash for 2019-03-31 as 2253000000 vs 3275000000; the figure was dropped.
+ 23 more
off balance sheet · 1
The filings report factoring of receivables and supplier-finance obligations that affect how operating obligations and customer receivables are financed.
one time dressing · 1
The filings repeatedly present delayed customer-acceptance revenue and fast shipments as near-term revenue opportunities.
redefinition · 2
The share-buyback commitment changes from the 2020–2022 program to successive 2021–2023, 2022–2025, and 2026–2028 programs with different amounts and dates.
The FY2024 filing reports remaining performance obligations of EUR 45.0 billion, while the FY2025 filing reports EUR 43.3 billion and the FY2025 annual report later reports EUR 46.5 billion.
related party exposure · 1
The filings show sustained and increasing financing, advance-payment, investment, and purchasing exposure to Carl Zeiss SMT GmbH.
subsequent event · 1
The FY2025 filing is followed by a materially higher 2026 outlook and a new strategic investment disclosure.