# ASML Cash flow

NASDAQ: ASML · Reporting currency: EUR

[Interactive page](https://beanvest.com/stock/asml/cash-flow) · [JSON with these options](https://beanvest.com/stock/asml/cash-flow.json?range=5Y&deductSbc=false&limit=200&offset=0&frequency=yearly&wacc=9.9) · [Raw filing inputs](https://beanvest.com/api/v2/financials/asml)

Frequency: yearly. Newest first. Retrieved: 2026-09-28T18:23:16.063Z.
Coverage: 2009-12-31 to 2025-12-31. Rows 1–17 of 17.
Snapshot checked: 2026-10-18T16:48:35.628Z. Last validated: 2026-10-18T16:48:35.628Z.
SBC deduction: disabled.

## Definitions

- **Operating cash flow** (`ocf`, EUR_millions): Reported net cash provided by or used in operating activities.
- **Capital expenditures** (`capex`, EUR_millions): Reported cash capital investment. Uses purchases of property, plant and equipment where disclosed; otherwise purchases of productive assets, which can also include software and intangibles. Excludes acquisitions and noncash lease additions.
- **Free cash flow** (`fcf`, EUR_millions): Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
- **Stock-based compensation** (`sbc`, EUR_millions): Reported share-based compensation addback in the cash-flow statement. Missing disclosure is not treated as zero.
- **SBC / free cash flow** (`sbc_fcf`, percent): Reported share-based compensation / (operating cash flow − cash capital investment) × 100, for the same fiscal period. Always uses FCF before SBC deduction. Zero or negative FCF is undefined; values above 100% are retained.
- **SBC / operating cash flow** (`sbc_ocf`, percent): Reported share-based compensation / reported operating cash flow × 100, for the same fiscal period. Zero or negative operating cash flow is undefined. Unaffected by the SBC deduction scenario.
- **Software & intangible investment** (`software_capex`, EUR_millions): Separately tagged payments for capitalized software under US GAAP, or purchases of intangible assets under IFRS. This optional disclosure is not inferred from total capex or deducted a second time from FCF.
- **Diluted EPS** (`eps`, EUR_per_share): Reported diluted earnings per share, normalized for recorded subsequent stock splits. Quarterly EPS is never subtracted from annual or YTD EPS.

## Values

| Period | End date | Operating cash flow (EUR_millions) | Capital expenditures (EUR_millions) | Free cash flow (EUR_millions) | Stock-based compensation (EUR_millions) | SBC / free cash flow (percent) | SBC / operating cash flow (percent) | Software & intangible investment (EUR_millions) | Diluted EPS (EUR_per_share) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2025 | 2025-12-31 | 12658.5 | 1573.6 | 11084.9 | 202.3 | 1.8250051872366915 | 1.5981356400837383 | Unavailable | 24.71 |
| 2024 | 2024-12-31 | 11166.2 | 2067.2 | 9099 | 172.6 | 1.896911748543796 | 1.5457362397234509 | Unavailable | 19.24 |
| 2023 | 2023-12-31 | 5443.4 | 2155.6 | 3287.7999999999997 | 134.8 | 4.100006083095079 | 2.4763934305764783 | Unavailable | 19.89 |
| 2022 | 2022-12-31 | 8486.8 | 1281.8 | 7204.999999999999 | 68.9 | 0.9562803608605137 | 0.8118489890182403 | Unavailable | 14.13 |
| 2021 | 2021-12-31 | 10845.8 | 900.7 | 9945.099999999999 | 117.5 | 1.1814863601170429 | 1.0833686772759963 | Unavailable | 14.34 |
| 2020 | 2020-12-31 | 4627.6 | 962 | 3665.6000000000004 | 53.9 | 1.4704277608031426 | 1.164750626674734 | Unavailable | 8.48 |
| 2019 | 2019-12-31 | 3276.4 | 766.6 | 2509.8 | 74.6 | 2.9723483942943654 | 2.276889268709559 | Unavailable | 6.15 |
| 2018 | 2018-12-31 | 3072.7 | 574 | 2498.7 | 46.3 | 1.8529635410413414 | 1.5068181078530283 | Unavailable | 6.08 |
| 2017 | 2017-12-31 | 1798.6 | 338.9 | 1459.6999999999998 | 53.1 | 3.6377337809138868 | 2.9522962304014237 | Unavailable | 4.91 |
| 2016 | 2016-12-31 | 1665.906 | 316.338 | 1349.568 | 47.701 | 3.534538459714516 | 2.863366840626062 | Unavailable | 3.44 |
| 2015 | 2015-12-31 | 2025.58 | 371.77 | 1653.81 | 59.07 | 3.5717524987755542 | 2.916201779243476 | Unavailable | 3.21 |
| 2014 | 2014-12-31 | 1025.206 | 358.28 | 666.9259999999999 | 63.38 | 9.503303215049346 | 6.182172168325196 | Unavailable | 2.72 |
| 2013 | 2013-12-31 | 1054.173 | 210.804 | 843.369 | 52.371 | 6.2097373747434395 | 4.967970152906592 | Unavailable | 2.34 |
| 2012 | 2012-12-31 | 703.478 | 171.878 | 531.5999999999999 | 18.714 | 3.5203160270880365 | 2.6602111224515905 | Unavailable | 2.68 |
| 2011 | 2011-12-31 | 2070.44 | 300.898 | 1769.542 | 12.43 | 0.7024416487430081 | 0.6003554799945905 | Unavailable | 4.441558441558441 |
| 2010 | 2010-12-31 | 940.048 | 128.728 | 811.3199999999999 | 12.109 | 1.492506039540502 | 1.2881257127295627 | Unavailable | 3.025974025974026 |
| 2009 | 2009-12-31 | 97.764 | 104.959 | -7.195000000000007 | 13.394 | Unavailable | 13.70033959330633 | Unavailable | -0.45454545454545453 |

## Capital allocation

Each reported nonnegative cash use / sum of available tracked nonnegative cash uses × 100. Missing categories are omitted, never set to zero. This is the composition of tracked uses, not a complete cash-flow reconciliation or a percentage of OCF. SBC is noncash and excluded. Negative amounts are excluded as reversals or net receipts; they are not converted to spending.
Amounts: EUR_millions. Shares: %. Uses the same fiscal periods, date filter and pagination as the values above.

- **Capex**: Reported cash capital investment, preferring PPE purchases. Productive-assets disclosures can also include software and intangibles.
- **Acquisitions**: Cash paid to acquire businesses, net of cash acquired. Excludes purchases of financial investments.
- **Buybacks**: Reported cash payments to repurchase common stock. Separately disclosed employee-tax settlements are not added.
- **Dividends**: Reported cash dividend payments, preferring the aggregate over the common-stock alternative. Includes dividend equivalents when part of that reported concept.
- **Debt repayments**: Reported gross debt repayments, preferring an aggregate over long-term or convertible-debt components. These alternatives are never added. The selected concept defines the scope; net debt proceeds and lease payments are excluded.

| Period | Tracked uses (EUR_millions) | Capex (amount; %) | Acquisitions (amount; %) | Buybacks (amount; %) | Dividends (amount; %) | Debt repayments (amount; %) | Omitted categories |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 2025 | 7523.6 | 1573.6; 20.915519166356532 | 0; 0 | 5950; 79.08448083364347 | Unavailable; Unavailable | Unavailable; Unavailable | dividends, debt_repayments |
| 2024 | 2567.2 | 2067.2; 80.52352757868495 | 0; 0 | 500; 19.47647242131505 | Unavailable; Unavailable | Unavailable; Unavailable | dividends, debt_repayments |
| 2023 | 3942 | 2155.6; 54.68290208016236 | 33.6; 0.852359208523592 | 1000; 25.367833587011667 | Unavailable; Unavailable | 752.8; 19.09690512430238 | dividends |
| 2022 | 6437.7 | 1281.8; 19.910837721546514 | 0; 0 | 4639.7; 72.0707706168352 | Unavailable; Unavailable | 516.2; 8.018391661618281 | dividends |
| 2021 | 9473.1 | 900.7; 9.507975214027088 | 0; 0 | 8560.3; 90.36429468706125 | Unavailable; Unavailable | 12.1; 0.1277300989116551 | dividends |
| 2020 | 2395.6000000000004 | 962; 40.15695441643012 | 222.8; 9.300384037401903 | 1207.5; 50.40490899983302 | Unavailable; Unavailable | 3.3; 0.13775254633494738 | dividends |
| 2019 | 1180.3999999999999 | 766.6; 64.94408675025416 | 0; 0 | 410; 34.733988478481876 | Unavailable; Unavailable | 3.8; 0.32192477126397834 | dividends |
| 2018 | 2320.1000000000004 | 574; 24.740312917546653 | 0; 0 | 1146.2; 49.40304297228567 | 597.1; 25.73595965691134 | 2.8; 0.12068445325632514 | None of the tracked categories |
| 2017 | 1598.6 | 338.9; 21.19979982484674 | 0; 0 | 500; 31.277367696734643 | 516.7; 32.322031777805584 | 243; 15.200800700613037 | None of the tracked categories |
| 2016 | 3808.2370000000005 | 316.338; 8.30667839212738 | 2641.295; 69.35742182012305 | 400; 10.503547967208972 | 445.865; 11.707911035999071 | 4.739; 0.12444078454150828 | None of the tracked categories |
| 2015 | 1242.6059999999998 | 371.77; 29.91857435100105 | 0; 0 | 564.887; 45.459864188648694 | 302.31; 24.328709180544763 | 3.639; 0.29285227980550554 | None of the tracked categories |
| 2014 | 1330.37 | 358.28; 26.930853822620776 | 0; 0 | 700; 52.61694115170968 | 267.962; 20.14191540699204 | 4.128; 0.3102896186775108 | None of the tracked categories |
| 2013 | 1174.7009999999998 | 210.804; 17.94533247183752 | 443.712; 37.77233525807844 | 300; 25.538413604823702 | 216.085; 18.394893679327765 | 4.1; 0.34902498593259057 | None of the tracked categories |
| 2012 | 909.2109999999999 | 171.878; 18.904082770665994 | 10.292; 1.1319704667013488 | 535.373; 58.88325152247389 | 188.892; 20.775375572886823 | 2.776; 0.30531966727195337 | None of the tracked categories |
| 2011 | 1176.5320000000002 | 300.898; 25.574994985261768 | Unavailable; Unavailable | 700.452; 59.53531225670019 | 172.645; 14.674059014119461 | 2.537; 0.21563374391856743 | acquisitions |
| 2010 | 217.13199999999998 | 128.728; 59.285595858740315 | Unavailable; Unavailable | Unavailable; Unavailable | 86.96; 40.049370889597114 | 1.444; 0.6650332516625832 | acquisitions, buybacks |
| 2009 | 191.462 | 104.959; 54.81975535615423 | 0; 0 | 0; 0 | 86.486; 45.17136559735091 | 0.017; 0.008879046494865823 | None of the tracked categories |

## Unavailable values

- software_capex: Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.
- sbc_fcf: Free cash flow before SBC deduction is zero or negative, so this ratio is undefined.

## Sources

- [sec-0000937966-28be6fd0f560](https://data.sec.gov/api/xbrl/companyfacts/CIK0000937966.json) · Retrieved 2026-09-28T07:37:41.538Z · SHA-256 28be6fd0f5608350ec396ae5d5097e45da95f4f29ad3fbd19aac328a15cce3d4
- [filing-3a0db53bd259f8e6](https://www.sec.gov/Archives/edgar/data/937966/000093796623000019/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:53:36.371Z · SHA-256 3a0db53bd259f8e6fbfc2edc9d4cf1cfb784efbfd7f5e91c94642cf06f21d2c8
- [filing-d65e29657b5a13d3](https://www.sec.gov/Archives/edgar/data/937966/000093796623000026/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:53:36.371Z · SHA-256 d65e29657b5a13d32eb7d02f4bcc00fdcc5e6e3ee25008499793fc0a149088cd
- [filing-a4609425aed40747](https://www.sec.gov/Archives/edgar/data/937966/000093796623000029/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:53:36.371Z · SHA-256 a4609425aed40747dd18b6ac37a9621c1d87e3950d7232c492467d1e71fc1ece
- [filing-95ba7c91b53d1cee](https://www.sec.gov/Archives/edgar/data/937966/000093796624000003/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 95ba7c91b53d1ceeb698abf33c45a83435c29d09e659254f3bc64115ae3552ff
- [filing-9f798d24d99db8e8](https://www.sec.gov/Archives/edgar/data/937966/000093796624000013/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 9f798d24d99db8e854fa5d3a55f035a79f3218e78d35bda12626dccb058ca6d4
- [filing-e930196dc9db6fff](https://www.sec.gov/Archives/edgar/data/937966/000093796624000019/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 e930196dc9db6fff3df3d54e2ce27957bc4ba5e7dade47981d10a3e993f233b4
- [filing-39e80fe0f8773f5c](https://www.sec.gov/Archives/edgar/data/937966/000093796624000022/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 39e80fe0f8773f5c862d2edfadb82d0a362524165e2fad1b9260e7d60a1bf7e0
- [filing-d28a84990725d509](https://www.sec.gov/Archives/edgar/data/937966/000093796625000003/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 d28a84990725d50996e7c0e00baf686e6f5e71a0579710d42f3e075d69e0b57d
- [filing-3577586a37f79b31](https://www.sec.gov/Archives/edgar/data/937966/000093796625000014/financialstatementsusgaapq.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 3577586a37f79b31bca24276542f61773cd1a53094f438a7abd9319841c34810
- [filing-54659eafbf8ace3b](https://www.sec.gov/Archives/edgar/data/937966/000162828025034992/financialstatementsusgaa.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 54659eafbf8ace3b77be1333ad8ac20281cbc224ee69d68ab919b037b596e7fc
- [filing-e2144d0456331ce1](https://www.sec.gov/Archives/edgar/data/937966/000162828025045043/financialstatementsusgaa.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 e2144d0456331ce159b098889eae4d5b59415fda8eb86ee380934575fdaa1067
- [filing-9d8d78a3019e2e65](https://www.sec.gov/Archives/edgar/data/937966/000162828026003701/financialstatementsusgaa.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 9d8d78a3019e2e65827e5b7b714b291a1528546b909af194d91b6016269776f3
- [filing-a66c714048712b64](https://www.sec.gov/Archives/edgar/data/937966/000162828026025147/financialstatementsusgaa.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 a66c714048712b644edec95a285f1c80ed693056dbac2900d662fd0bad7dd495
- [filing-c5f9e8327c9f1a19](https://www.sec.gov/Archives/edgar/data/937966/000162828026048235/financialstatementsusgaa.htm) · Retrieved 2026-09-28T01:39:58.596Z · SHA-256 c5f9e8327c9f1a190e3df5acc4198806c9cdca1affd350ab065c4b45cbd8f240

## Data conventions

- Null means an unavailable input or undefined calculation, never zero. Values are unrounded; money and shares are in millions unless a column states otherwise.
- Fiscal periods use actual reporting start/end dates. Annual reported values are not constructed by adding quarterly EPS or weighted share counts. Partial years are labelled.
- FCF uses operating cash flow minus reported cash capital investment, preferring PPE purchases. The productive-assets fallback can also include software and intangibles. Acquisitions and noncash leases are excluded. Deduct SBC is an optional economic-cost scenario; missing SBC remains unavailable.
- SBC / FCF and SBC / OCF compare amounts from the same fiscal period. SBC / FCF always uses FCF before SBC deduction; nonpositive denominators are undefined and values above 100% remain valid.
- Capital allocation percentages describe available tracked cash uses, not all company spending or a fraction of OCF. Missing categories remain null, negative payments are excluded and SBC is noncash. Annual shares use reported annual amounts.
- Valuation uses completed, split-adjusted closes without dividend adjustment and a complete trailing year. Financial bases become eligible after publication; selected facts can contain later restatements. This is not a vintage-filings backtest.
- Mean and median use all valid observations in the selected date range before pagination. Historical pricing labels compare the latest positive value with its own median and do not estimate intrinsic fair value.
- Reporting currencies are retained without conversion. USD market capitalization, where available, is a separate dated Nasdaq snapshot.
- WACC is an editable US industry scenario across history, not a historical company cost of capital. Industry exclusions, missing inputs and pending filings remain explicit.