19 October 2023 Advanced Semiconductor Materials Lithography ASML.USASML Holding Bloomberg ASML.US
Reuters ASML.AS
ASML's profit declined in Q3 2023, but the company remains optimistic about future growth.
Earnings Result
ASML's third-quarter results for 2023 showed a strong performance, with net sales of €6.7 billion and a net income of €1.9 billion. This exceeded their previous forecast and indicates continued growth towards their target of 30% for 2023. The gross margin for the quarter was 51.9%, higher than expected, driven by the product mix and one-off cost effects. Looking ahead, ASML anticipates further growth in the fourth quarter, with net sales projected between €6.7 billion and €7.1 billion and a gross margin between 50% and 51%. Overall, the company remains optimistic about its financial performance and future growth.
Net profit growth QoQ and YoY
The net profit for ASML in Q3 2023 exceeded expectations, reaching €1.9 billion. However, this is slightly lower than the €1.942 billion net profit in Q2 2023
Revenue growth for each business
ASML reported net sales of €6.7 billion in Q3 2023, which fell short of expectations. However, this represents a 15.5% YoY increase from the €5.78 billion reported in the same period the previous year.
Gross Profit
The gross profit for ASML in Q3 2023 was €3.462 billion, with a gross margin of 51.9%. This exceeded expectations and was primarily driven by the DUV product mix and some one-off cost effects. The company expects a slight improvement in gross margin for 2023 compared to 2022.
Net Booking
In the Q3 2023 earnings report, ASML reported net sales of €6.7 billion and net income of €1.9 billion. They also confirmed their expectation to grow net sales towards 30% in 2023. Additionally, they reported quarterly net bookings of €2.6 billion, with €0.5 billion being EUV.
Outlook
ASML expects Q4 2023 net sales between €6.7 billion and €7.1 billion with a gross margin between 50% and 51%. They also confirm their expectation for strong growth in 2023 with net sales increasing towards 30% and a slight improvement in gross margin.
ASML's third-quarter results for 2023 showed a strong performance, with net sales of €6.7 billion and a net income of €1.9 billion. This exceeded their previous forecast and indicates continued growth towards their target of 30% for 2023. The gross margin for the quarter was 51.9%, higher than expected, driven by the product mix and one-off cost effects. Looking ahead, ASML anticipates further growth in the fourth quarter, with net sales projected between €6.7 billion and €7.1 billion and a gross margin between 50% and 51%. Overall, the company remains optimistic about its financial performance and future growth.
Net profit growth QoQ and YoY
The net profit for ASML in Q3 2023 exceeded expectations, reaching €1.9 billion. However, this is slightly lower than the €1.942 billion net profit in Q2 2023
Revenue growth for each business
ASML reported net sales of €6.7 billion in Q3 2023, which fell short of expectations. However, this represents a 15.5% YoY increase from the €5.78 billion reported in the same period the previous year.
Gross Profit
The gross profit for ASML in Q3 2023 was €3.462 billion, with a gross margin of 51.9%. This exceeded expectations and was primarily driven by the DUV product mix and some one-off cost effects. The company expects a slight improvement in gross margin for 2023 compared to 2022.
Net Booking
In the Q3 2023 earnings report, ASML reported net sales of €6.7 billion and net income of €1.9 billion. They also confirmed their expectation to grow net sales towards 30% in 2023. Additionally, they reported quarterly net bookings of €2.6 billion, with €0.5 billion being EUV.
Outlook
ASML expects Q4 2023 net sales between €6.7 billion and €7.1 billion with a gross margin between 50% and 51%. They also confirm their expectation for strong growth in 2023 with net sales increasing towards 30% and a slight improvement in gross margin.
| Revenue- %Chg YoY | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
|---|---|---|---|---|---|
| Logic | 227.0% | 60.2% | 39.4% | 33.2% | 13.3% |
| Memory | 40.1% | -25.3% | -6.4% | -36.0% | -20.8% |
| Sentiment | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
|---|---|---|---|---|
| net profit | Positive | Positive | Positive | Positive |
| margin | Positive | Neutral | Positive | Positive |
| revenue | Positive | Positive | Positive | Positive |
| Stock data | |
|---|---|
| Market Cap (USD Million) | 235.13 |
| Beta | 1.83 |
| Last close | 583.25 |
| 12-m Low / High | 410.4 / 772 |
| Target price | 750.00 |
| Return Potential | 28.6 % |
| % of Buy / Sell rating | 60.0 % / 7.0 % |
| Valuation data | 12m Forward | 5-Yr Average |
|---|---|---|
| P/E | 29.64 | 39.50 |
| P/B | 16.39 | 21.20 |
| P/S | 8.00 | 8.70 |
| EV/EBITDA | 22.20 | 23.70 |
| Dividend Yield | 0.0 % |
Advanced Semiconductor Materials Lithography
ASML Holding N.V. develops, produces, and markets semiconductor manufacturing equipment, specifically machines for the production of chips through lithography. The Company services clients worldwide.
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