ASML Holding N.V. (ASML): Modelo de Negocio Canvas [Actualizado en Ene-2025]

En el intrincado mundo de la tecnología de semiconductores, ASML Holding N.V. se erige como un titán tecnológico, revolucionando el tejido mismo de la fabricación de microchip con sus soluciones de litografía innovadores. Imagine una compañía que no solo crea equipos, sino que literalmente permite el futuro de la informática, desde los teléfonos inteligentes en nuestros bolsillos hasta las supercomputadoras más avanzadas del planeta. Esta publicación de blog se sumergirá profundamente en el notable lienzo de modelo de negocio de ASML, presentando cómo esta potencia de ingeniería holandesa transforma los complejos desafíos de fabricación de semiconductores en avances tecnológicos precisos e innovadores que dan forma a nuestro ecosistema digital.

ASML Holding N.V. (ASML) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas del fabricante de semiconductores

ASML mantiene asociaciones críticas con los principales fabricantes de semiconductores:

Pareja	Detalles de inversión/colaboración	Año de asociación
TSMC	Compromiso de inversión de € 5.64 mil millones en 2022	2012
Intel	Inversión de capital de 3.500 millones de euros en 2021	2017
Samsung	Desarrollo de tecnología colaborativa de 3.200 millones de euros	2019

Asociaciones de investigación

ASML colabora con universidades técnicas en toda Europa:

• Universidad Tecnológica de Delft - Financiamiento de investigación anual de € 12.5 millones
• Universidad Tecnológica Eindhoven - Programa de investigación conjunta de € 9.3 millones
• Universidad Técnica de Munich - Colaboración de investigación de litografía de 7.8 millones de euros

Asociaciones de la cadena de suministro

Las asociaciones críticas de componentes y materiales incluyen:

Proveedor	Componente/material	Valor anual del contrato
Carl Zeiss SMT	Componentes ópticos	1.200 millones de euros
Trumpf GmbH	Tecnologías láser	680 millones de euros
Corporación Nikon	Óptica de precisión	450 millones de euros

Acuerdos de desarrollo conjunto

Las colaboraciones de diseño de chips de ASML implican:

• Qualcomm - Investigación de litografía avanzada de 350 millones de euros
• AMD - Asociación de desarrollo tecnológico de 275 millones de euros
• NVIDIA - Programa de diseño de chips colaborativos de 220 millones de euros

Colaboraciones de la institución gubernamental y de investigación

Asociaciones de desarrollo de tecnología estratégica:

Institución	Área de enfoque	Compromiso de financiación
Ministerio holandés de asuntos económicos	Investigación de litografía avanzada	500 millones de euros
Programa de Investigación de Horizonía Europeo	Innovación de semiconductores	375 millones de euros
Organización de la Investigación Científica de los Países Bajos	Desarrollo tecnológico	250 millones de euros

ASML Holding N.V. (ASML) - Modelo de negocio: actividades clave

Diseño y fabricación de equipos de litografía de semiconductores

ASML invirtió 2.600 millones de euros en I + D en 2022. La compañía produjo 316 sistemas de litografía ultravioleta extrema (EUV) en 2022, con un ingreso total del sistema de € 22.0 mil millones.

Tipo de equipo	Unidades producidas (2022)	Precio promedio del sistema
Sistemas EUV	316	70 millones de euros por sistema
Sistemas de DUV	254	35 millones de euros por sistema

Desarrollo de tecnología de litografía ultravioleta extrema (EUV)

ASML tiene un Cuota de mercado del 100% en la tecnología de litografía EUV. La compañía ha desarrollado 0.33 sistemas EUV de apertura numérica (NA) con precisión líder en la industria.

• La tecnología EUV actual admite procesos de fabricación de semiconductores de 5 nm y 3 nm
• Desarrollo continuo de tecnología EUV de apertura de alta numérica (High-NA EUV)
• I + D Centrarse en reducir la longitud de onda y mejorar la resolución

Investigación y desarrollo de tecnologías avanzadas de producción de microchip

En 2022, ASML empleó a 8,525 profesionales de I + D, que representan el 37% de la fuerza laboral total.

Inversión de I + D	Cantidad
Gasto total de I + D (2022)	2.600 millones de euros
Porcentaje de ingresos	22.5%

Innovación continua en equipos de fabricación de semiconductores

ASML mantiene el liderazgo tecnológico a través de la innovación consistente en múltiples dominios de fabricación de semiconductores.

• Desarrollado sistema EUV de alta NA con 0.55 apertura numérica
• Mejora continua de las tecnologías de litografía de inmersión
• Aprendizaje automático e integración de IA en equipos de semiconductores

Ventas globales, servicio y soporte de máquinas de semiconductores de alta precisión

ASML opera en múltiples ubicaciones globales con infraestructura integral de ventas y soporte.

Región	Volumen de ventas (2022)	Centros de servicio
América del norte	38% de las ventas globales	12 centros de servicio
Asia-Pacífico	52% de las ventas globales	18 centros de servicio
Europa	10% de las ventas globales	7 centros de servicio

ASML Holding N.V. (ASML) - Modelo de negocio: recursos clave

Talento de ingeniería altamente especializado y experiencia técnica

A partir de 2023, ASML empleó a 42,472 empleados totales en todo el mundo. El personal de I + D comprendía 7,524 ingenieros especializados centrados en la innovación de equipos de semiconductores.

Categoría de empleado	Número de empleados
Fuerza de trabajo total	42,472
Ingenieros de I + D	7,524

Investigaciones avanzadas y instalaciones de desarrollo

ASML mantiene múltiples centros avanzados de I + D A nivel mundial, con ubicaciones principales en:

• Veldhoven, Países Bajos (sede)
• San José, California, EE. UU.
• Wilton, Connecticut, EE. UU.
• Taipei, Taiwán
• Berlín, Alemania

Tecnología de litografía EUV patentada

La tecnología EUV de ASML representa un € 5.500 millones de inversiones en investigación y desarrollo, con más de 6.500 patentes relacionadas que protegen su ventaja tecnológica.

Cartera significativa de propiedad intelectual

Categoría de IP	Número de patentes
Patentes totales	6,500+
Patentes relacionadas con EUV	3,200+

Recursos financieros sustanciales para la innovación tecnológica continua

Métricas financieras para la inversión tecnológica en 2023:

• Gasto de I + D: € 2.85 mil millones
• Ingresos totales: € 26.04 mil millones
• Ingresos netos: € 6.87 mil millones

Métrica financiera	Valor 2023
Inversión de I + D	€ 2.85 mil millones
Ingresos totales	26.04 mil millones de euros
Lngresos netos	6.87 mil millones de euros

ASML Holding N.V. (ASML) - Modelo de negocio: propuestas de valor

Habilitando la fabricación de chips semiconductores de semiconductores más avanzados del mundo

ASML proporciona sistemas de litografía ultravioleta extremo (EUV) con las siguientes especificaciones clave:

Parámetro tecnológico	Especificación
Longitud de onda	13.5 nanómetros
Apertura numérica	0.33 a 0.55
Rendimiento	170 obleas por hora
Precisión	± 1.5 nanómetros

Proporcionar equipos de litografía de mayor precisión a nivel mundial

La cuota de mercado de ASML en el equipo de litografía de semiconductores:

• Cuota de mercado de Litografía EUV: 100%
• Cuota de mercado general de equipos de litografía: 85%
• Ingresos anuales de sistemas de litografía: € 21.4 mil millones (2022)

Apoyo a las mejoras de miniaturización y rendimiento

Capacidades técnicas de los sistemas de litografía de ASML:

Nodo de fabricación de chips	Tamaño mínimo de la característica
5 nanómetro	5 nm
3 nanómetro	3 nm
2 nanómetro	2 nm

Ofreciendo soluciones de vanguardia para desafíos complejos de fabricación de chips

Investigación y inversión de desarrollo:

• Gastos de I + D en 2022: € 2.74 mil millones
• Porcentaje de ingresos invertidos en I + D: 18.5%
• Número de patentes celebradas: 8,210

Entrega de capacidades tecnológicas incomparables

Métricas de rendimiento para la producción de semiconductores de próxima generación:

Capacidad	Métrico de rendimiento
Precisión de la superposición	1.2 nanómetros
Productividad	255 obleas por hora
Precisión computacional	0.1 nanómetro

ASML Holding N.V. (ASML) - Modelo de negocios: relaciones con los clientes

Asociaciones estratégicas a largo plazo con fabricantes de semiconductores líderes

ASML mantiene asociaciones estratégicas con los principales fabricantes de semiconductores que incluyen:

Cliente	Detalles de la asociación	Valor de colaboración
TSMC	Suministro de equipos de litografía	€ 7.6 mil millones de ingresos en 2022
Intel	Tecnología de litografía avanzada	€ 3.2 mil millones de ingresos en 2022
Samsung	Sistemas EUV y DUV	€ 2,9 mil millones de ingresos en 2022

Servicios técnicos y de mantenimiento integrales

ASML proporciona un amplio soporte técnico a través de:

• Soporte técnico global 24/7
• Mantenimiento del equipo en el sitio
• Servicios de diagnóstico remoto
• Equipos técnicos de respuesta rápida

Categoría de servicio	Inversión anual	Tiempo de respuesta
Apoyo técnico	512 millones de euros en 2022	Menos de 4 horas
Mantenimiento del equipo	345 millones de euros en 2022	Dentro de las 24 horas

Soluciones de equipos personalizadas para necesidades específicas del cliente

ASML ofrece soluciones de litografía a medida con configuraciones específicas:

• Sistemas EUV de alta NA
• Plataformas de fabricación de semiconductores avanzados
• Equipo de producción de chips especializados

Actualización y consulta de tecnología continua

Los servicios de actualización de tecnología incluyen:

• Actualizaciones de software regulares
• Mejoras del rendimiento del hardware
• Consulta de hoja de ruta tecnológica

Categoría de actualización	Inversión anual	Frecuencia de implementación
Inversiones de I + D	€ 2,4 mil millones en 2022	Actualizaciones trimestrales

Programas regulares de capacitación y transferencia de conocimiento

Programas de capacitación para ingenieros de clientes:

• Capacitación integral de equipos
• Talleres de tecnología avanzada
• Plataformas de aprendizaje en línea

Programa de capacitación	Participantes anuales	Horas de entrenamiento
Capacitación técnica	3.750 ingenieros	120 horas por participante

ASML Holding N.V. (ASML) - Modelo de negocio: canales

Equipo de ventas directo dirigido a los principales fabricantes de semiconductores

El equipo de ventas directas de ASML se centra en los fabricantes clave de semiconductores con un alcance global. A partir de 2023, ASML sirvió aproximadamente 15 compañías de semiconductores principales en todo el mundo, que incluyen:

Compañía	Región
TSMC	Taiwán
Electrónica Samsung	Corea del Sur
Intel Corporation	Estados Unidos

Conferencias técnicas y exhibiciones de la industria

ASML participa en los principales eventos de la industria de semiconductores, con presencia en:

• Semicon West (San Francisco, EE. UU.)
• Semicon China (Shanghai, China)
• Semicon Europa (Munich, Alemania)

En 2023, ASML se dedicó a más de 5,000 profesionales de la industria a través de estas conferencias.

Documentación técnica en línea y plataformas de soporte

ASML mantiene infraestructura integral de soporte digital:

• Portal de soporte técnico en línea 24/7
• Base de conocimiento dedicada al cliente con más de 10,000 documentos técnicos
• Sistemas de diagnóstico de equipos en tiempo real

El uso de la plataforma digital aumentó en un 35% en 2023 en comparación con el año anterior.

Red global de centros de ventas y servicios

ASML opera centros de ventas y servicios a través de:

Región	Número de centros
América del norte	7
Europa	12
Asia-Pacífico	15

El tiempo total de respuesta del servicio global promedia 4.2 horas para problemas de equipos críticos.

Enfoque de gestión de cuentas estratégicas

ASML implementa la estrategia de gestión de cuentas dedicada:

• Equipos especializados para los 20 mejores clientes semiconductores
• Desarrollo de hoja de ruta de tecnología personalizada
• Reuniones trimestrales de revisión comercial

La tasa de retención de cuentas estratégicas alcanzó el 98.5% en 2023.

ASML Holding N.V. (ASML) - Modelo de negocio: segmentos de clientes

Fabricantes de chips semiconductores líderes

El segmento principal de clientes de ASML incluye los principales fabricantes de semiconductores a nivel mundial:

Cliente	Cuota de mercado	2023 órdenes de equipo de litografía
TSMC	53% del mercado global de fundición	$ 23.4 mil millones
Electrónica Samsung	17% Global Foundry Market	$ 8.7 mil millones
Intel	15% del mercado global de semiconductores	$ 6.2 mil millones

Instituciones de investigación de tecnología avanzada

• Laboratorios de tecnología MIT Microsystems
• Centro de nanofabricación de Stanford
• Centro de investigación de IMEC, Bélgica

Empresas informáticas de alto rendimiento

Clientes clave en el segmento de computación de alto rendimiento:

• Google Cloud
• Servicios web de Amazon
• Microsoft Azure

Fabricantes de electrónica de teléfonos inteligentes y de consumo

Fabricante	Producción de dispositivos 2023	Dependencia del equipo ASML
Manzana	234 millones de teléfonos inteligentes	Dependencia de nodo avanzada 100%
Samsung	267 millones de teléfonos inteligentes	95% de dependencia de nodo avanzado
Xiaomi	190 millones de teléfonos inteligentes	85% de dependencia de nodo avanzado

Productores de electrónica automotriz e industrial

Los mejores clientes de la electrónica automotriz:

• Tesla
• Grupo Volkswagen
• Toyota Motor Corporation
• Nvidia (diseños de semiconductores automotrices)

ASML Holding N.V. (ASML) - Modelo de negocio: Estructura de costos

Extensas inversiones de investigación y desarrollo

Los gastos de I + D de ASML en 2022 totalizaron € 2.786 mil millones, lo que representa el 21.5% de los ingresos totales. La compañía invirtió 3,168 mil millones de euros en I + D para el año fiscal 2023.

Año	Gasto de I + D	Porcentaje de ingresos
2022	€ 2.786 mil millones	21.5%
2023	3.168 mil millones de euros	22.3%

Procesos de fabricación de precisión de alto costo

Los costos de fabricación para los sistemas de litografía de ASML Extreme UltraViolet (EUV) oscilan entre 150 millones de euros y 200 millones de euros por máquina.

• Costos de producción de la máquina EUV: € 150-200 millones por unidad
• Componentes de ingeniería de precisión: inversión significativa en equipos de fabricación de alta precisión
• Materiales avanzados y componentes especializados: materiales de entrada de alto costo

Gestión de la cadena de suministro global compleja

La gestión global de la cadena de suministro de ASML implica importantes gastos operativos en múltiples ubicaciones internacionales.

Categoría de costos de la cadena de suministro	Gastos anuales estimados
Logística y transporte	350-450 millones de euros
Gestión de proveedores	250-300 millones de euros
Adquisición global	500-600 millones de euros

Gastos significativos de personal y talento de ingeniería

ASML empleó a 41,596 empleados en 2023, con gastos totales de personal que alcanzaron € 4.1 mil millones.

• Total de empleados: 41,596 (2023)
• Costo promedio del empleado: € 98,500 por año
• Concentración de talento de ingeniería: aproximadamente el 70% de la fuerza laboral

Costos sustanciales de desarrollo y mantenimiento de la propiedad intelectual

ASML mantiene una sólida cartera de propiedades intelectuales con una importante inversión anual.

Categoría de IP	Inversión anual	Patentes totales
Desarrollo de patentes	250-300 millones de euros	Más de 7.500 patentes activas
Mantenimiento de IP	€ 50-75 millones	Protección global de patentes

ASML Holding N.V. (ASML) - Modelo de negocio: flujos de ingresos

Ventas de sistemas de equipos de litografía

En 2023, ASML reportó ventas netas totales de € 26.0 mil millones. Las ventas del sistema de litografía generaron específicamente € 21.8 mil millones, lo que representa el 83.8% de los ingresos totales.

Tipo de equipo	2023 ingresos	Porcentaje de total
Sistemas EUV	€ 15.7 mil millones	60.4%
Sistemas de DUV	6.1 mil millones de euros	23.4%

Contratos de mantenimiento y servicio recurrentes

Los ingresos por servicios para 2023 alcanzaron € 3.7 mil millones, representando el 14.2% de las ventas netas totales.

• Valor promedio de contrato de mantenimiento anual: € 2-5 millones por sistema
• Tasa de renovación del contrato de servicio: 95%

Licencias de tecnología e ingresos por propiedad intelectual

Los ingresos por propiedad intelectual en 2023 fueron de 380 millones de euros, lo que representa el 1.5% de las ventas netas totales.

Servicios de actualización y modernización para equipos existentes

Los servicios de actualización y modernización generaron aproximadamente 600 millones de euros en 2023.

Tipo de actualización	Costo promedio
Actualización del sistema EUV	€ 10-15 millones
Modernización del sistema DUV	3-7 millones de euros

Venta de repuestos y consumibles

Las ventas de repuestos y consumibles totalizaron 1.100 millones de euros en 2023.

• Gasto promedio de repuestos anuales por cliente: € 2-4 millones
• Ciclo de reemplazo de consumibles: 6-12 meses

ASML Holding N.V. (ASML) - Canvas Business Model: Value Propositions

ASML Holding N.V. provides the essential lithography systems that enable the production of chips at the most advanced nodes, which is critical for next-generation artificial intelligence hardware.

The company is the sole provider of leading-edge Extreme Ultraviolet (EUV) lithography systems, a position that underpins the entire advanced semiconductor manufacturing ecosystem.

For instance, in the second quarter of 2025, ASML Holding N.V. recorded total net sales of €7.7 billion, with EUV systems accounting for 48% of net system sales for that quarter. The company expects overall EUV revenue growth of around 30% in 2025 versus 2024.

The value proposition centers on enabling superior chip density and manufacturing efficiency through technology leaps, such as the High-NA EUV systems.

The High-Numerical Aperture (High-NA) EUV systems, like the TWINSCAN EXE:5200B, deliver a substantial leap in resolution capability over previous generations.

Metric	High-NA EUV (EXE:5200B)	Low-NA EUV (Previous Generation)
Numerical Aperture (NA)	0.55	0.33
Resolution Capability	8 nm-level resolution	13 nm resolution
Relative Feature Size Improvement	Approximately 1.7 times smaller	Baseline
Throughput (Wafers per Hour)	≥175 wafers per hour	Not specified in comparison

This precision directly translates to improved wafer throughput and superior yield rates for chipmakers working on sub-2nm logic nodes. Early adopters are already seeing process simplification; one customer reported reducing process steps on a given layer to less than 10 from 40 using the High-NA tool. Another reported a 60% reduction in cycle time on one layer. ASML Holding N.V. shipped the first TWINSCAN EXE:5200B system in the second quarter of 2025.

The value extends far beyond the initial sale through comprehensive, decades-long after-sales service and system upgrades, captured under Installed Base Management sales. This segment is a significant financial contributor, with Q2 2025 Installed Base Management sales reaching €2.1 billion. Management expects Installed Base Management revenues to grow more than 20% year-over-year.

The High-NA EUV systems are specifically positioned for the next-generation transistor shrink, enabling the progression to sub-2 nm logic nodes. ASML Holding N.V. aims to ship at least five High-NA EUV systems in 2025, with sales projected to triple.

You can see the financial momentum supporting these value propositions:

• Full-year 2025 total net sales are guided to increase by around 15% relative to 2024.
• Q3 2025 net bookings reached €5.4 billion, with EUV bookings at €3.6 billion.
• The company maintained a gross margin of 53.7% in Q2 2025, driven partly by higher upgrade business.

Finance: draft the 2026 Installed Base Management revenue projection based on the 20% YoY growth guidance by Friday.

ASML Holding N.V. (ASML) - Canvas Business Model: Customer Relationships

You're managing the relationship with customers who are making multi-billion dollar capital expenditure decisions on equipment that will run for decades. For ASML Holding N.V. (ASML), this means the customer relationship isn't just a sales transaction; it's a deep, embedded partnership that spans the entire lifecycle of their most critical manufacturing assets.

Strategic, long-term co-development and technology alignment

ASML Holding N.V. builds its customer relationships on indispensable technology. The company's strategy centers on deep, strategic partnerships and co-development agreements with the world's leading chipmakers, specifically naming TSMC, Samsung, and Intel. These collaborations are not optional; they ensure that ASML's technological advancements, especially in Extreme Ultraviolet (EUV) lithography, are perfectly aligned with the customers' future process roadmaps. This alignment fosters loyalty because the customer's ability to produce sub-2nm chips depends on ASML's next-generation systems. Customer feedback is directly woven into ASML Holding N.V.'s Research and Development process, which helps improve equipment uptime and production yields-metrics that directly impact your customers' bottom line.

The commitment to future technology is clear in the High NA EUV roadmap. ASML Holding N.V. has secured purchase orders for its High NA EUV system from all its existing EUV customers. Furthermore, in the first quarter of 2025, ASML Holding N.V. shipped its fifth High NA system, with these advanced tools now installed at three customers. The introduction of the TWINSCAN EXE:5200B system in Q2 2025 and the TWINSCAN XT:260, an i-line scanner, in Q3 2025 shows this continuous, high-touch product alignment.

Dedicated Installed Base Management for 24/7 technical support

Retention at ASML Holding N.V. is heavily secured by its Installed Base Management (IBM) strategy, which translates directly into significant, recurring revenue. These machines are designed to operate for over 30 years, meaning the service relationship is multi-decade. The company projects healthy double-digit growth for IBM in 2025, underscoring its importance. You can see the scale of this recurring revenue stream in the quarterly figures:

Period	Installed Base Management Sales (in millions of euros)
Q1 2025	2,001
Q2 2025	2,096
Q3 2025	1,962

For context, the full-year 2025 total net sales are expected to be between €30 billion and €35 billion, so the service component is a substantial part of the overall business.

Direct, high-touch sales and executive-level relationship management

The sales process is inherently high-touch because the products are so complex and capital-intensive. This involves direct engagement at the executive level to align on long-term capacity planning and technology adoption. The customer base is highly concentrated among industry leaders, which naturally demands a direct approach. For instance, in Q3 2025, ASML Holding N.V.'s total net sales hit €7.5 billion, and the company's strategic focus is on supporting these key players through their next technology nodes.

The relationship management extends beyond just selling new systems; it involves managing the installed base's performance and upgrades. This is why the company's Q1 2025 gross margin of 54.0% was above guidance, partly driven by the achievement of performance milestones related to existing systems.

Full training and technical support for seamless system integration

To ensure these complex tools integrate seamlessly into a customer's high-volume manufacturing environment, ASML Holding N.V. provides comprehensive training and technical support. This support is critical for maximizing the utilization and output of systems like the EUV scanners, which are the bottleneck for advanced chip production. The success of the service model, which generates recurring revenue for decades, is proof that this support helps customers maintain high operational efficiency. The company's ability to deliver on performance milestones that boost service revenue, as seen in Q2 2025, shows the direct financial benefit of this support structure.

• Support helps maximize wafer throughput.
• Training ensures seamless system integration.
• Performance milestones drive service revenue recognition.
• This support enhances customer lifetime value.

ASML Holding N.V. (ASML) - Canvas Business Model: Channels

You're looking at how ASML Holding N.V. (ASML) gets its complex, multi-million dollar lithography systems and services into the hands of the world's leading chipmakers. It's a highly direct, relationship-driven channel strategy, which makes sense when you're selling the most advanced manufacturing tools on the planet.

Direct sales force for high-value lithography system sales.

ASML Holding N.V. (ASML) relies on a direct sales approach for its high-value lithography systems, including the Extreme Ultraviolet (EUV) and High-NA EUV platforms. This direct channel is necessary because the sales process involves deep technical alignment with customer process roadmaps and significant capital commitment. While the exact headcount for the direct sales force isn't broken out, the structure supports the sale of systems like the High-NA EUV, which costs approximately $370 million per unit. The company's overall employee base supporting this ecosystem was over 42,000 people as of 2024, spread across its global operations.

Global network of field service engineers for Installed Base Management.

The service arm, which ASML Holding N.V. (ASML) calls Installed Base Management (IBM), is a massive channel in itself, monetizing the installed base of systems. IBM sales were €2.0 billion in Q1 2025, rose to €2.096 billion in Q2 2025, and were reported at €1.962 billion in Q3 2025. For the full year 2024, IBM sales reached €6.494 billion. Management guided that IBM sales for Q3 2025 would be around €2 billion, and for the full year 2025, they expect Installed Base Management revenues to grow more than 20% year-over-year. This service business operates with high margins, reported at 60%, and contributes about 30% of the company's total gross profit.

The installed base is the engine for this channel. The service business is driven by the need to keep mission-critical systems optimized, with each EUV system in the field generating an estimated €2-3 million in annual service revenue. Furthermore, major throughput-boosting upgrades can cost between €15-20 million.

Direct R&D collaboration with customers on process roadmaps.

ASML Holding N.V. (ASML) uses direct, deep collaboration as a primary channel to ensure future product relevance. This involves designing machines based on customer input and working together to meet technology and cost roadmaps. This is evident in several key areas:

• The company shipped its first product serving Advanced Packaging, the TWINSCAN XT:260, an i-line scanner offering up to 4x productivity compared to existing solutions.
• ASML is engaged in a five-year strategic partnership with research hub imec, incorporating its whole product portfolio, including 0.55 NA EUV and 0.33 NA EUV systems, for sub-2nm R&D infrastructure.
• They are working closely with customers on the next-generation High NA platform, with systems costing approximately $370 million each.

Regional offices and customer support centers worldwide.

ASML Holding N.V. (ASML) maintains an extensive physical presence to service its worldwide customer base, which is crucial for rapid response and Installed Base Management. The company operates across 60 locations in 16 countries and regions.

Here's a look at the geographic distribution of key operational and support centers:

Region/Country	Key Locations Mentioned	Function/Note
Netherlands (HQ)	Veldhoven	Research, development, manufacturing, assembly, and EU repair center
United States	Chandler, AZ; Hillsboro, OR; San Diego, CA; Wilton, CT; Vancouver, WA	US Global Support Center (Chandler); Largest US customer support site/training hub (Hillsboro)
China	Beijing, Shanghai, Shenzhen	Planned new reuse and repair center in Beijing in 2025
South Korea	Hwasung	Headquarters, Korea Training Center, Korea Repair Center
Taiwan	Hsinchu, Tainan, Linkou	Taiwanese HQ (Hsinchu); Asian Global Support Center (Linkou)
Europe (Other)	Belgium, France, Germany, Ireland, Israel, Italy, UK	Multiple offices supporting local operations and customers

ASML Holding N.V. (ASML) is also focused on localizing service capabilities, as seen by the plan to open a reuse and repair center in Beijing in 2025 to reduce logistics time and costs.

ASML Holding N.V. (ASML) - Canvas Business Model: Customer Segments

You're analyzing ASML Holding N.V.'s customer base as of late 2025, and it's clear the business is intensely focused on the giants driving the AI and advanced computing wave. The customer segments are highly concentrated, meaning performance for any one of the top few can significantly impact the backlog visibility, which is a structural feature of this business.

The core of ASML Holding N.V.'s system sales revenue is driven by the world's leading logic foundries and Integrated Device Manufacturers (IDMs). These customers, including Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics, and Intel Corporation, are in a race for sub-2nm process nodes, making ASML Holding N.V.'s Extreme Ultraviolet (EUV) technology indispensable. Honestly, almost 40 percent of ASML Holding N.V.'s revenues are concentrated among these three major players. For instance, analysts project TSMC growth around 40% for 2025, while Samsung is expected to see modest consensus growth of about 7.6%.

Advanced memory manufacturers are also critical, pushing capacity for High-Bandwidth Memory (HBM) and DDR5 products, which requires increased EUV layering. While the demand is strong, the immediate booking mix in the second quarter of 2025 showed a clear preference for logic investments over memory upgrades.

Here's a quick look at how the system sales and bookings broke down by end-use in the second quarter of 2025, which shows where the immediate capital expenditure was directed:

Metric (Q2 2025)	Logic Share	Memory Share
Net System Sales	69%	31%
Net System Bookings	84%	16%

The geopolitical landscape has carved out a distinct segment: China-based chipmakers. Despite export restrictions, this region remains a substantial customer, with mainland Chinese net system sales accounting for 27% of total system sales in the second quarter of 2025. Management has guided that revenue from China is expected to account for over 25% of total revenue for the full year 2025, though there is an anticipated moderation in 2026 due to evolving rules.

Beyond the commercial giants, ASML Holding N.V. serves other vital segments that secure its long-term technological roadmap. These include:

• Global research institutions, such as IMEC, which are crucial for qualifying next-generation lithography nodes.
• Government-backed pilot lines that test and validate new process technologies before mass adoption.
• Customers utilizing the Installed Base Management services, which generated €2.1 billion in Q2 2025 revenue, showing strong recurring business.

The overall system sales in Q2 2025 reached €5.6 billion, with EUV systems contributing €2.7 billion of that total, underscoring the advanced segment's importance to the top-tier customers.

ASML Holding N.V. (ASML) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that fuel ASML Holding N.V.'s technological dominance. The cost structure is heavily weighted toward future capability, meaning a significant portion of revenue is immediately reinvested into research and development.

Heavy Research & Development (R&D) expenditure is a defining feature. For the fourth quarter of 2025e, ASML Holding N.V. expects R&D costs to be around €1.2 billion per quarter. This commitment supports the development pipeline, including High NA EUV systems. To give you context on recent spending, R&D expenses for the third quarter of 2025 actually came in slightly below guidance at EUR 1.1 billion.

Selling, General & Administrative (SG&A) costs are also substantial, though smaller than R&D. The guidance for Q4 2025e places SG&A costs around €320 million per quarter. For the third quarter of 2025, the actual SG&A expenses were reported at EUR 303 million, mainly tied to an increase in salaries and the number of full-time equivalents (FTEs).

The complexity of the lithography systems means a high Cost of Goods Sold (COGS), which is reflected in the gross margin figures. ASML Holding N.V. expects the full-year 2025 gross margin to stabilize around 52%, with Q4 2025 guidance pointing to a range between 51% and 53%. This margin profile is a direct result of the intricate, often outsourced component manufacturing required for systems like EUV.

Here's a quick look at the expected and reported quarterly operating expenses for context:

Cost Component	Q3 2025 Actual (EUR)	Q4 2025 Guidance (EUR)
Research & Development (R&D)	1.1 billion	Around 1.2 billion
Selling, General & Administrative (SG&A)	303 million	Around 320 million

Maintaining the installed base is a major, ongoing cost center. Costs associated with keeping this global service and support network operational are significant. For instance, the Cost of service and field option sales for the first half of 2025 was reported at (€1,487.0 million). This cost scales directly with the growing installed base, which includes systems coming out of warranty, like NXE systems.

While specific Capital Expenditure (CapEx) figures for production capacity expansion aren't explicitly detailed in the immediate forward-looking statements, the need for expansion is implied by the revenue growth targets, such as the expected full-year 2025 total net sales increase of around 15% relative to 2024. This growth necessitates continuous investment in the physical means of production.

You can see the scale of the service-related costs in the context of the first half of 2025:

• Total cost of sales (H1 2025): (€5,728.6 million)
• Cost of service and field option sales (H1 2025): (€1,487.0 million)
• Installed Base Management sales (Q3 2025): €1.962 billion

ASML Holding N.V. (ASML) - Canvas Business Model: Revenue Streams

You're looking at how ASML Holding N.V. (ASML) actually brings in the money, and honestly, it's a mix of big upfront sales and steady service income. The revenue streams are clearly segmented between new machine deliveries and managing the installed base of machines already out there.

The big-ticket items are the sales of new lithography systems, covering everything from Deep Ultraviolet (DUV) to the cutting-edge Extreme Ultraviolet (EUV) and the newest High-NA EUV technology. To give you a sense of the scale, ASML Holding N.V. (ASML) expected its full-year 2025 total net sales to land somewhere between €30 billion and €35 billion. By the time they reported Q3 2025, they were holding firm on an updated expectation for the full year of around €32.5 billion, representing an increase of around 15% relative to 2024.

Revenue recognition for the most advanced High-NA EUV systems is lumpy, as you'd expect with such high-value equipment. For instance, management confirmed revenue recognition from one High NA system in Q2 2025. This trend continued into the third quarter, as the Q3 2025 net system sales of €5.6 billion included revenue from one High NA system recognized that quarter. Analysts are watching the High-NA ramp closely; projections suggested High-NA sales alone could hit €1.7 billion in 2025.

The Installed Base Management (IBM) segment provides a crucial, more predictable revenue floor. For the third quarter of 2025, IBM sales-which cover service, upgrades, and parts-came in at €2.0 billion. This is a significant chunk of the total, especially when compared to the Q2 2025 figure of €2.096 billion for the same category. Overall EUV revenue growth for the full year 2025 was expected to be around 30% versus 2024.

Here's a quick look at the revenue breakdown from the Q3 2025 results, showing how the system sales split:

Revenue Stream Component	Q3 2025 Amount (in billions of euros)	Notes
Total Net Sales	€7.5 billion
Net System Sales	€5.6 billion
Installed Base Management (IBM) Sales	€2.0 billion	Service, upgrades, parts.

Drilling down into the system sales for Q3 2025, you see the split between the most advanced and the established technologies:

System Type	Q3 2025 Net System Sales (in billions of euros)	Contribution to Net System Sales
EUV Systems (including one High NA)	€2.1 billion	Approximately 37.5% (€2.1 / €5.6)
Non-EUV Systems (DUV)	€3.4 billion	Approximately 60.7% (€3.4 / €5.6)

The revenue from software and metrology/inspection systems is typically bundled or reported separately, but we can see its relative size from earlier in the year. For example, the Metrology & Inspection segment represented only about 2% of total revenue back in Q1 2025. This shows that the vast majority of ASML Holding N.V. (ASML)'s top line comes directly from the sale of lithography systems and the associated service contracts.

You should keep an eye on the following key revenue drivers:

• Sales of new lithography systems, especially EUV and High-NA.
• Installed Base Management (IBM) sales, which hit €2.0 billion in Q3 2025.
• Revenue recognition from High-NA EUV systems, with one system recognized in Q2 2025.
• The overall 2025 total net sales guidance, targeted between €30 billion and €35 billion initially.
• The expected overall EUV revenue growth for 2025 versus 2024, projected around 30%.