Table of Contents
Most of this week’s content has already been sent:
- Netflix Detailed Earnings Review
- Taiwan Semi Detailed Earnings Review
- My current portfolio & performance vs. the S&P
ServiceNow, Tesla, Intel and American Express earnings coverage will be sent this week. And good news! Free trials have arrived. If you’d like full and free access to ServiceNow and Tesla earnings reviews next week, now is your chance! Check out why so many subscribe and why they tend to stick around for so long. Access the offer here.
1. ASML (ASML) – Brief Earnings Snapshot
Results:
- Beat revenue estimate by 0.9% and beat guidance by 2.6%.
- Missed 90 lithography systems sold estimate by 11.
- Beat 52.2% GPM estimates by 80 basis points (bps; 1 basis point = 0.01%) & beat guidance by 100 bps.
- Beat EBIT estimates by 3%. Beat €6.65 EPS estimates by €0.50.
- Selling, general and administrative (SG&A) expense discipline boosted the EBIT and net income beats.
- Missed €2.3B operating cash flow estimates by €4.5B.
Balance Sheet:
- €8.38B cash & equivalents.
- €2B investments.
- $2.71B debt.
- Share count shrank by 1.7% Y/Y.
Guidance & Valuation:
- Q2 revenue guide missed estimates by 3%.
- Q2 51.5% GPM guide missed estimates by 100 bps.
- Raised 2026 revenue guide by 4%, which met estimates.
- Reiterated 2026 GPM guide of 52%, which missed estimates by 60 bps.
ASML trades for 37x forward EPS. EPS is expected to grow by 27% this year and by 32% next year.
