Monopoly supplier of EUV lithography systems, critical bottleneck for sub-7nm logic and advanced DRAM (HBM). Faces ongoing US/Dutch export restrictions limiting High-NA and DUV immersion shipments to China, a key risk to near-term bookings.
ASML filed its FY2025 annual report (20-F) covering the year ended 2025-12-31, the key annual disclosure for the dominant EUV lithography supplier and a critical read-through for Samsung, SK Hynix, and TSMC capex plans. PMs should look for updated bookings/backlog, China revenue mix, High-NA EUV shipment cadence, and FY2026 guidance shaping the broader semi-cap cycle. Full filing body not analyzed; description inferred from form + item codes.