Overview

• Third‑quarter bookings reached €5.4 billion, including €3.6 billion in EUV orders, with €7.5 billion in revenue and €2.1 billion in net income.
• The company guides that 2026 net sales should match or exceed 2025, and it projects fourth‑quarter sales up to €9.8 billion with gross margin around 52%.
• About 42% of Q3 orders came from China, which analysts describe as front‑loading ahead of tighter export rules that could normalize later.
• Goldman Sachs analyst Alexander Duval kept a Buy rating and raised his price target to €1,050, citing robust EUV demand and improved visibility into 2026.
• Industry efforts to reduce supply‑chain risk include expanding non‑Chinese sources of rare‑earth magnets and advancing recycling technologies.