The beat-and-raise quarter confirms strong AI-driven demand momentum. Traders should watch for continued order intake strength and execution on capacity expansion plans. The raised guidance and multi-year capacity investments signal confidence in sustained growth. Monitor Q3 results on October 14, 2026 for further validation.
Price Chart
Executive Summary
ASML reported Q2 2026 total net sales of €9.3 billion (above guidance), gross margin of 54.0%, and net income of €2.9 billion (EPS €7.59). The company raised its full-year 2026 outlook to total net sales between €43 billion and €45 billion with gross margin between 54% and 56%, citing strong AI-driven demand and customer capacity expansion. ASML also announced plans to increase EUV and DUV immersion capacity by 30% for 2027 and is investigating further increases for 2028.
Key Facts
- Q2 2026 total net sales of €9,326 million, up 21.2% YoY from €7,692 million
- Q2 2026 gross margin of 54.0%, up from 53.7% in Q2 2025
- Q2 2026 net income of €2,918 million, EPS €7.59 basic
- FY 2026 outlook raised: total net sales €43-45 billion, gross margin 54-56%
- Q3 2026 guidance: net sales €11.0-12.0 billion, gross margin 55-57%
- Planning to add 30% to 2026 NXE capacity (~65 units) for 2027, investigating another 30% for 2028
- Planning to add 30% to 2026 DUV immersion capacity (~130 units) for 2027, investigating another 30% for 2028
- Share buyback program of up to €12 billion through 2028; €2.1 billion repurchased as of June 28, 2026
- Interim dividend of €1.88 per share payable August 5, 2026
- H1 2026 total net sales €18,093 million, up 17.2% YoY; net income €5,235.7 million (EU-IFRS)
Financial Impact
Q2 2026 revenue beat guidance; full-year outlook raised by approximately €2-4 billion from prior range; gross margin guidance improved to 54-56%
Risk Factors
- Geopolitical tensions and export controls could restrict shipments to key customers (e.g., China sales declined to €2.9B in H1 2026 from €3.7B in H1 2025)
- Semiconductor industry cyclicality could lead to demand slowdown
- R&D costs increased 40% to €2.5B in H1 2026, pressuring margins
- Operating cash flow negative €481.5M in H1 2026 due to working capital build
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-048235 |
| Document: pressreleasefinancialresul.htm | 0001628280-26-048235 |
| Document: financialstatementsusgaa.htm | 0001628280-26-048235 |
| Document: presentationinvestorrela.htm | 0001628280-26-048235 |
| Document: form6-kquarterlyfilings.htm | 0001628280-26-048235 |
| Document: 0001628280-26-048235-index-headers.html | 0001628280-26-048235 |
| Document: 0001628280-26-048235-index.html | 0001628280-26-048235 |
| Document: 0001628280-26-048235.txt | 0001628280-26-048235 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $1,647.12 | awaiting T+60 | — | $1,590.90 (−3.41%) |
Oct 14, 2026 12d ago | 6-K | $1,650.00 | awaiting T+60 | — | $1,590.90 (−3.58%) |
Sep 28, 2026 28d ago | Press Release | $1,771.41 | awaiting T+60 | — | $1,590.90 (−10.19%) |
Sep 21, 2026 5w ago | Press Release | $1,711.32 | awaiting T+60 | — | $1,590.90 (−7.04%) |
Jul 15, 2026 14w ago | 6-K | $1,815.27 $1,769.79 | ▼ −2.51% | ▼ −5.04% | $1,590.90 (−12.36%) |
Jul 15, 2026 14w ago | Press Release | $1,815.27 $1,769.79 | ▼ −2.51% | ▼ −5.04% | $1,590.90 (−12.36%) |
Jun 15, 2026 19w ago | Press Release | $1,892.66 $1,729.52 | ▼ −8.62% | ▼ −9.62% | $1,590.90 (−15.94%) |
Jun 1, 2026 21w ago | Press Release | $1,628.57 $1,744.16 | ▲ +7.10% | ▲ +5.87% | $1,590.90 (−2.31%) |
Apr 28, 2026 25w ago | Press Release | $1,384.56 $1,803.00 | ▲ +30.22% | ▲ +26.23% | $1,590.90 (+14.90%) |
Apr 22, 2026 26w ago | Press Release | $1,440.51 $1,747.58 | ▲ +21.32% | ▲ +16.54% | $1,590.90 (+10.44%) |
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