What ASML keeps
ASML took in €32.7 billion in 2025 and kept €9.6 billion. Here is the trip between the two.
Straight from ASML's accounts for 2025.
In: systems €24.5bn, service and field-option upgrades €8.2bn.
Out:
Revenue €32.7bn less cost of sales €15.4bn = gross profit €17.3bn less research €4.7bn less selling and admin €1.2bn = operating profit €11.4bn less tax and other €1.8bn = net profit €9.6bn
The line that stands out is research. ASML spent about four times as much on R&D as on selling and administration. That fits a business whose customers already know the product: only a handful of chipmakers can use an EUV scanner, and no rival sells one.
The chart uses rounded figures, so tax and other is the closing residual between operating profit and net profit.
Sources: ASML FY2025 annual report and results release; net sales and net income cross-checked against Reuters' results coverage.
