Key Takeaways The Zacks Consensus Estimate suggests Q3 revenue growth of up to 7.3% and EPS gains near 10% YoY for ASML.Strong demand for EUV tools from advanced chipmakers continues to power ASML's growth.Export limits to China and macro headwinds remain challenges to ASML's solid momentum.ASML Holding N.V. (ASML) is slated to report third-quarter 2025 results before the market opens on Oct. 15.ASML expects revenues between €7.4 billion and €7.9 billion. The Zacks Consensus Estimate is pegged at $8.81 bill ...

核心观点 - ASML Holding NV预计2025年第二季度营收在72亿至77亿欧元之间 市场共识预期为85.5亿美元 同比增长27.2% [1] - 每股收益共识预期为5.94美元 同比增长37.5% 过去30天上调0.14美元 [2] - 公司过去四个季度每股收益均超预期 平均超出幅度达6.8% [3] 财务预测 - 当前季度每股收益预期5.94美元 下季度7.22美元 2025全年27.48美元 2026年30.25美元 [3] - 90天内当前季度每股收益预期从5.55美元上调至5.94美元 2026年预期从29.83美元上调至30.25美元 [3] - 盈利预测模型显示正收益ESP达+2.82% 最准确预估为6.11美元/股 [5] 行业驱动因素 - 半导体行业复苏受AI需求激增推动 对晶圆制造设备形成利好 [6] - 行业向更小技术节点迁移 ASML的先进光刻技术成为AI/5G/HPC芯片制造关键 [7] - DDR5/HBM等新一代内存技术升级带动DRAM制造商设备需求 [9] 技术优势 - EUV光刻技术取得回报 NXE:3800低NA机型每小时可处理220片晶圆 [10] - 公司是唯一能规模化生产EUV光刻机的厂商 支撑5nm/3nm/未来2nm芯片制造 [18] - 已开始推出下一代High-NA EUV设备 将用于更小制程芯片 [19] 市场表现 - 年内股价上涨15.7% 优于计算机与科技板块7.4%的涨幅 [12] - 当前12个月远期PE为27.7倍 略高于行业平均27.39倍 [14] - 估值高于Lam Research(25.34倍)和Applied Materials(20.11倍) 但低于KLA Corporation(27.76倍) [17] 区域风险 - 中国市场份额从2024年41%降至2025Q1的27% 受出口限制影响 [20] - DUV光刻系统需求部分抵消了对华先进设备出口限制的负面影响 [11]

ASML Holding N.V. (ASML) is slated to report its first-quarter 2025 results on April 16.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.ASML expects revenues between €7.5 billion and €8 billion. The Zacks Consensus Estimate is pegged at $8.08 billion, indicating an increase of 40.7% from the year-ago quarter’s level.The Zacks Consensus Estimate for earnings is pegged at $6.12 per share, up 81.1% from the year-ago quarter’s earnings of $3.38. The estimate has been revised upward by 1 ...