Financial Statements US GAAP Q3 2026 Powering technology forward with you .3
ASML Financial Statements US GAAP Q3 2026 2 Summary US GAAP Consolidated Statements of Operations 3 Summary US GAAP Ratios and Other Data 4 Summary US GAAP Consolidated Balance Sheets 5 Summary US GAAP Consolidated Statements of Cash Flows 6 Quarterly Summary US GAAP Consolidated Statements of Operations 7 Quarterly Summary US GAAP Ratios and Other Data 8 Quarterly Summary US GAAP Consolidated Balance Sheets 9 Quarterly Summary US GAAP Consolidated Statements of Cash Flows 10 Notes to the Summary US GAAP Consolidated Financial Statements 11 Forward Looking Statements Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Contents
Three months ended Nine months ended Sep 28, Sep 27, Sep 28, Sep 27, (Unaudited, €, in millions, except per share data) 2025 2026 2025 2026 Net system sales 5,553.8 8,373.2 16,890.3 21,217.3 Net service and field option sales 1,962.2 3,288.8 6,058.9 8,538.1 Total net sales 7,516.0 11,662.0 22,949.2 29,755.4 Total cost of sales (3,635.7) (4,962.2) (10,759.7) (13,375.1) Gross profit 3,880.3 6,699.8 12,189.5 16,380.3 Research and development costs (1,108.7) (1,174.4) (3,436.5) (3,635.9) Selling, general and administrative costs (303.2) (352.6) (882.5) (957.6) Income from operations 2,468.4 5,172.8 7,870.5 11,786.8 Gain (loss) on equity investments — 509.7 — 509.7 Interest and other, net 19.4 68.2 93.3 139.0 Income before income taxes 2,487.8 5,750.7 7,963.8 12,435.5 Income tax expense (442.2) (925.0) (1,394.7) (2,081.2) Income after income taxes 2,045.6 4,825.7 6,569.1 10,354.3 Profit related to equity method investments 78.9 134.7 200.7 280.4 Net income 2,124.5 4,960.4 6,769.8 10,634.7 Basic net income per ordinary share 5.49 12.95 17.39 27.67 Diluted net income per ordinary share 5.48 12.93 17.38 27.64 Weighted average number of ordinary shares (in millions) used in computing per share amounts: Basic 387.3 383.1 389.2 384.3 Diluted 387.6 383.5 389.5 384.7 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 2 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Statements of Operations
Three months ended Nine months ended Sep 28, Sep 27, Sep 28, Sep 27, (Unaudited) 2025 2026 2025 2026 Gross margin 51.6 % 57.5 % 53.1 % 55.0 % Income from operations as a percentage of net sales 32.8 % 44.4 % 34.3 % 39.6 % Net income as a percentage of net sales 28.3 % 42.5 % 29.5 % 35.7 % Income taxes as a percentage of income before income taxes 17.8 % 16.1 % 17.5 % 16.7 % Shareholders’ equity as a percentage of total assets 42.1 % 37.4 % 42.1 % 37.4 % Sales of lithography systems (in units) 1 72 121 225 291 Number of payroll employees (in FTEs) 43,461 44,681 43,461 44,681 Number of temporary employees (in FTEs) 789 1,078 789 1,078 1. Lithography systems do not include metrology and inspection systems. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 3 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Ratios and Other Data
Dec 31, Sep 27, (Unaudited, €, in millions) 2025 2026 Assets Cash and cash equivalents 12,916.0 8,030.9 Short-term investments 405.9 4,704.2 Accounts receivable, net 3,023.0 9,252.8 Finance receivables, net 613.5 674.8 Current tax assets 88.9 145.4 Contract assets 440.6 453.4 Inventories, net 11,429.3 11,907.3 Loans receivable 266.1 303.0 Other assets 1,432.8 1,554.1 Total current assets 30,616.1 37,025.9 Finance receivables, net 13.3 — Deferred tax assets 1,719.4 1,688.2 Loans receivable 1,653.9 1,782.5 Other assets 1,057.1 1,547.5 Equity investments 1,320.7 2,239.4 Equity method investments 822.6 1,129.2 Goodwill 4,588.6 4,588.6 Other intangible assets, net 540.1 582.5 Property, plant and equipment, net 7,893.8 8,077.3 Right-of-use assets 341.0 320.1 Total non-current assets 19,950.5 21,955.3 Total assets 50,566.6 58,981.2 Dec 31, Sep 27, (Unaudited, €, in millions) 2025 2026 Liabilities and shareholders’ equity Current liabilities 24,263.9 24,904.3 Total current liabilities 24,263.9 24,904.3 Long-term debt 2,709.0 1,963.0 Deferred and other tax liabilities 183.0 289.2 Contract liabilities 3,366.3 9,300.6 Accrued and other liabilities 432.2 460.2 Total non-current liabilities 6,690.5 12,013.0 Total liabilities 30,954.4 36,917.3 Total shareholders’ equity 19,612.2 22,063.9 Total liabilities and shareholders’ equity 50,566.6 58,981.2 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 4 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Balance Sheets
Cash flows from operating activities Net income 2,124.5 4,960.4 6,769.8 10,634.7 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 274.6 262.9 770.8 769.1 Impairment and loss (gain) on disposal 3.1 10.7 21.7 19.4 Share-based compensation expense 57.7 73.2 146.7 162.8 Inventory reserves 138.6 79.5 297.9 276.0 Deferred tax expense (benefit) (55.3) 54.1 61.9 32.2 Equity investments — (508.8) — (508.8) Equity method investments (80.8) (143.4) (206.4) (306.6) Changes in assets and liabilities (1,903.3) 7,009.0 (6,614.2) 236.2 Net cash provided by (used in) operating activities 559.1 11,797.6 1,248.2 11,315.0 Cash flows from investing activities Purchase of property, plant and equipment (295.9) (413.3) (1,125.7) (1,115.1) Purchase of intangible assets (19.5) (33.9) (35.1) (140.4) Purchase of short-term investments 3.5 (4,595.1) 3.5 (5,499.0) Maturity of short-term investments — 800.4 — 1,200.8 Purchase of equity investments (1,210.0) (405.7) (1,210.0) (409.9) Loans issued and other investments (405.9) (39.5) (404.2) (138.5) Repayment on loans — 0.6 — 1.7 Net cash provided by (used in) investing activities (1,927.8) (4,686.5) (2,771.5) (6,100.4) Three months ended Nine months ended Sep 28, Sep 27, Sep 28, Sep 27, (Unaudited,€, in millions) 2025 2026 2025 2026 Cash flows from financing activities Dividend paid (619.6) (721.3) (1,931.2) (2,376.8) Purchase of treasury shares (172.2) (4,071.0) (4,250.0) (6,148.4) Net proceeds from issuance of shares 35.3 36.8 109.7 108.5 Net proceeds from issuance of borrowings 15.0 — 15.0 — Repayment of debt and finance lease obligations (0.5) (1,000.4) (0.7) (1,693.7) Net cash provided by (used in) financing activities (742.0) (5,755.9) (6,057.2) (10,110.4) Net cash flows (2,110.7) 1,355.2 (7,580.5) (4,895.8) Effect of changes in exchange rates on cash (6.3) 3.8 (28.9) 10.7 Net increase (decrease) in cash and cash equivalents (2,117.0) 1,359.0 (7,609.4) (4,885.1) Cash and cash equivalents at beginning of the period 7,243.5 6,671.9 12,735.9 12,916.0 Cash and cash equivalents at end of the period 5,126.5 8,030.9 5,126.5 8,030.9 Three months ended Nine months ended Sep 28, Sep 27, Sep 28, Sep 27, (Unaudited,€, in millions) 2025 2026 2025 2026 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 5 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Summary US GAAP Consolidated Statements of Cash Flows
Three months ended Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited, €, in millions, except per share data) 2025 2025 2026 2026 2026 Net system sales 5,553.8 7,584.0 6,279.4 6,564.8 8,373.2 Net service and field option sales 1,962.2 2,134.1 2,487.5 2,761.7 3,288.8 Total net sales 7,516.0 9,718.1 8,766.9 9,326.5 11,662.0 Total cost of sales (3,635.7) (4,649.5) (4,121.9) (4,291.1) (4,962.2) Gross profit 3,880.3 5,068.6 4,645.0 5,035.4 6,699.8 Research and development costs (1,108.7) (1,262.3) (1,184.9) (1,276.6) (1,174.4) Selling, general and administrative costs (303.2) (375.2) (302.3) (302.7) (352.6) Income from operations 2,468.4 3,431.1 3,157.8 3,456.1 5,172.8 Gain (loss) on equity investments — — — — 509.7 Interest and other, net 19.4 11.2 40.9 30.0 68.2 Income before income taxes 2,487.8 3,442.3 3,198.7 3,486.1 5,750.7 Benefit from (provision for) income taxes (442.2) (618.7) (546.6) (609.6) (925.0) Income after income taxes 2,045.6 2,823.6 2,652.1 2,876.5 4,825.7 Profit related to equity method investments 78.9 16.0 104.6 41.1 134.7 Net income 2,124.5 2,839.6 2,756.7 2,917.6 4,960.4 Basic net income per ordinary share 5.49 7.35 7.15 7.59 12.95 Diluted net income per ordinary share 5.48 7.34 7.15 7.58 12.93 Weighted average number of ordinary shares (in millions) used in computing per share amounts: Basic 387.3 386.5 385.4 384.5 383.1 Diluted 387.6 387.0 385.7 384.9 383.5 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 6 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Consolidated Statements of Operations
Three months ended Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited) 2025 2025 2026 2026 2026 Gross margin 51.6 % 52.2 % 53.0 % 54.0 % 57.5 % Income from operations as a percentage of net sales 32.8 % 35.3 % 36.0 % 37.1 % 44.4 % Net income as a percentage of net sales 28.3 % 29.2 % 31.4 % 31.3 % 42.5 % Income taxes as a percentage of income before income taxes 17.8 % 18.0 % 17.1 % 17.5 % 16.1 % Shareholders’ equity as a percentage of total assets 42.1 % 38.8 % 43.3 % 43.5 % 37.4 % Sales of lithography systems (in units) 1 72 102 79 91 121 Number of payroll employees (in FTEs) 43,461 43,520 43,882 43,938 44,681 Number of temporary employees (in FTEs) 789 689 622 696 1,078 1. Lithography systems do not include metrology and inspection systems. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 7 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Ratios and Other Data
Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited, €, in millions) 2025 2025 2026 2026 2026 Assets Cash and cash equivalents 5,126.5 12,916.0 7,970.4 6,671.9 8,030.9 Short-term investments 1.7 405.9 405.9 909.6 4,704.2 Accounts receivable, net 5,364.3 3,023.0 4,402.9 7,252.6 9,252.8 Finance receivables, net 666.2 613.5 630.4 560.0 674.8 Current tax assets 93.0 88.9 65.2 84.1 145.4 Contract assets 366.7 440.6 543.7 492.0 453.4 Inventories, net 11,762.8 11,429.3 11,711.2 11,739.5 11,907.3 Loans receivable 190.0 266.1 267.8 269.2 303.0 Other assets 1,575.1 1,432.8 1,586.3 1,570.3 1,554.1 Total current assets 25,146.3 30,616.1 27,583.8 29,549.2 37,025.9 Finance receivables, net — 13.3 198.2 — — Deferred tax assets 1,838.6 1,719.4 1,761.9 1,742.7 1,688.2 Loans receivable 1,686.0 1,653.9 1,725.9 1,766.8 1,782.5 Other assets 918.5 1,057.1 1,320.9 1,532.3 1,547.5 Equity investments 1,226.9 1,320.7 1,322.5 1,324.9 2,239.4 Equity method investments 1,109.3 822.6 935.9 985.8 1,129.2 Goodwill 4,588.6 4,588.6 4,588.6 4,588.6 4,588.6 Other intangible assets, net 555.7 540.1 532.1 589.5 582.5 Property, plant and equipment, net 7,681.2 7,893.8 7,770.0 7,815.8 8,077.3 Right-of-use assets 346.0 341.0 320.7 319.2 320.1 Total non-current assets 19,950.8 19,950.5 20,476.7 20,665.6 21,955.3 Total assets 45,097.1 50,566.6 48,060.5 50,214.8 58,981.2 Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited, €, in millions) 2025 2025 2026 2026 2026 Liabilities and shareholders’ equity Current liabilities 19,224.9 24,263.9 20,288.0 22,154.6 24,904.3 Total current liabilities 19,224.9 24,263.9 20,288.0 22,154.6 24,904.3 Long-term debt 2,704.7 2,709.0 2,705.6 1,984.4 1,963.0 Deferred and other tax liabilities 187.2 183.0 235.4 240.1 289.2 Contract liabilities 3,572.3 3,366.3 3,585.7 3,570.3 9,300.6 Accrued and other liabilities 414.5 432.2 416.3 440.0 460.2 Total non-current liabilities 6,878.7 6,690.5 6,943.0 6,234.8 12,013.0 Total liabilities 26,103.6 30,954.4 27,231.0 28,389.4 36,917.3 Total shareholders’ equity 18,993.5 19,612.2 20,829.5 21,825.4 22,063.9 Total liabilities and shareholders’ equity 45,097.1 50,566.6 48,060.5 50,214.8 58,981.2 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 8 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Consolidated Balance Sheets
Cash flows from operating activities Net income 2,124.5 2,839.6 2,756.7 2,917.6 4,960.4 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 274.6 255.2 259.4 246.9 262.9 Impairment and loss (gain) on disposal 3.1 28.0 0.5 8.2 10.7 Share-based compensation expense 57.7 55.6 31.1 58.5 73.2 Inventory reserves 138.6 171.5 80.2 116.3 79.5 Deferred tax expense (benefit) (55.3) 118.8 (42.1) 20.1 54.1 Equity investments — — — — (508.8) Equity method investments (80.8) 300.9 (113.3) (49.9) (143.4) Changes in assets and liabilities (1,903.3) 7,640.7 (5,158.1) (1,614.7) 7,009.0 Net cash provided by (used in) operating activities 559.1 11,410.3 (2,185.6) 1,703.0 11,797.6 Cash flows from investing activities Purchase of property, plant and equipment (295.9) (447.9) (402.4) (299.4) (413.3) Purchase of intangible assets (19.5) (22.5) (19.9) (86.6) (33.9) Purchase of short-term investments 3.5 (409.7) — (903.9) (4,595.1) Maturity of short-term investments — 5.3 — 400.4 800.4 Purchase of equity investment (1,210.0) (92.2) (1.8) (2.4) (405.7) Loans issued and other investments (405.9) (296.9) (64.2) (34.8) (39.5) Repayment on loans — 257.6 0.7 0.4 0.6 Net cash provided by (used in) investing activities (1,927.8) (1,006.3) (487.6) (926.3) (4,686.5) Three months ended Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited,€, in millions) 2025 2025 2026 2026 2026 Cash flows from financing activities Dividend paid (619.6) (619.2) (617.0) (1,038.5) (721.3) Purchase of treasury shares (172.2) (1,700.0) (1,000.0) (1,077.5) (4,071.0) Net proceeds from issuance of shares 35.3 32.7 35.0 36.7 36.8 Net proceeds from issuance of borrowings 15.0 739.2 — — — Repayment of debt and finance lease obligations (0.5) (1,066.0) (692.9) (0.3) (1,000.4) Net cash provided by (used in) financing activities (742.0) (2,613.3) (2,274.9) (2,079.6) (5,755.9) Net cash flows (2,110.7) 7,790.7 (4,948.1) (1,302.9) 1,355.2 Effect of changes in exchange rates on cash (6.3) (1.2) 2.5 4.4 3.8 Net increase (decrease) in cash and cash equivalents (2,117.0) 7,789.5 (4,945.6) (1,298.5) 1,359.0 Cash and cash equivalents at beginning of the period 7,243.5 5,126.5 12,916.0 7,970.4 6,671.9 Cash and cash equivalents at end of the period 5,126.5 12,916.0 7,970.4 6,671.9 8,030.9 Three months ended Sep 28, Dec 31, Mar 29, Jun 28, Sep 27, (Unaudited,€, in millions) 2025 2025 2026 2026 2026 Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 9 Consolidated Statements of Operations Ratios and Other Data Consolidated Balance Sheets Consolidated Statements of Cash Flows Quarterly Summary US GAAP Consolidated Statements of Cash Flows
Basis of preparation The accompanying unaudited Summary Consolidated Financial Statements have been prepared in conformity with the accounting principles generally accepted in the United States of America ("US GAAP"). For further details on our annual disclosure requirements under US GAAP, including our significant accounting policies, these unaudited Summary Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included within our 2025 Annual Report based on US GAAP, which is available on www.asml.com. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 10 Notes to the Summary US GAAP Consolidated Financial Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including expected trends in the semiconductor industry and end markets, business dynamics and business environment trends, the expected impact of AI investments and impact of AI technologies on demand for chips and our systems and semiconductor growth outlook and impact on our customers and our business, lithography intensity, plans and capability to increase capacity and output and expected capacity and investigation of ways to increase capacity, our product portfolio and portfolio roadmaps, backlog, expectations and customer plans with respect to High NA EUV and holistic lithography adoption, technological developments and expected shipment of systems, supply and demand trends, visibility into longer-term demand, outlook including expected sales of market segments and geographies, outlook and expected financial results including outlook and expected results for Q4 2026, including expected total net sales, IBM sales, gross margin, R&D costs, SG&A costs, outlook and expectations with respect to full year 2026 including expected full year 2026 total net sales, gross margin and annualized effective tax rate, expectations with respect to EUV, DUV and IBM sales in 2026, and expectations with respect to future years, investor key messages, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks and statements with respect to dividends, expected performance and capabilities of our systems and product roadmaps, customer outlook, demand forecasts, demand visibility and plans including customer orders and interest in placing orders in future years, customer roadmaps, capital expenditures and customer plans and capability with respect to capacity expansion, ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “guide”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and industry and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the macroeconomic and geopolitical environment on the semiconductor industry, semiconductor market conditions, the impact of AI on our customers and our business, the pace and scale of customer increase in capacity, industry and business and semiconductor demand and demand for our tools, the impact of inflation, interest rate and exchange rate fluctuations, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new technologies, products and models and customer roadmaps, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in orders and our ability to convert orders into sales and whether customer interest in orders in future years results in actual orders, risks relating to the realization of our backlog, the risk of order cancellations, delays or push outs and restrictions on shipments of systems, including ordered systems, under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, risks relating to future financial results and the risk that future results may differ from our outlook and other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2025 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law. Summary US GAAP Quarterly Summary US GAAP Notes Forward Looking Statements ASML Financial statements US GAAP Q3 2026 11 Forward Looking Statements