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    Home > Finance > ASML to stop publishing most-closely watched metric - bookings
    Finance

    ASML to stop publishing most-closely watched metric - bookings

    Published by Global Banking and Finance Review

    Posted on January 30, 2025

    2 min read

    Last updated: January 26, 2026

    Image showcasing ASML's logo alongside financial charts highlighting the company's decision to stop publishing new order bookings metrics, reflecting changes in the finance sector.
    ASML logo and financial charts depicting new order bookings metrics - Global Banking & Finance Review
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    Tags:innovationtechnologyfinancial marketsinvestmenteconomic growth

    Quick Summary

    ASML will no longer publish its volatile bookings metric, opting for forecasts to guide investors. This change aims to reduce stock price swings.

    ASML Discontinues Reporting Key Metric of New Order Bookings

    By Toby Sterling

    AMSTERDAM (Reuters) - Top computer chip equipment maker ASML has decided to stop publishing the most closely-watched figure in its quarterly financial results, new order bookings, saying it is too "lumpy" and leads to excessive volatility in its share price. 

    The Dutch company says its own forecasts are a better guide, as they are based on discussions with chipmakers about their capacity plans, in which ASML's circuit-printing machinery plays a major role.

    New orders can take between around six and 18 months to fill, making it hard to interpret how each quarter's figures will play out - sometimes causing big stock price moves. 

    "The swing factor is significant," Chief Financial Officer Roger Dassen said.

    Analysts said the company's decision - announced on Wednesday as its stock spiked 7% due to better than expected fourth-quarter bookings - was partly regrettable, but mostly understandable.

    "There is downside for investors, as ... (at present) we can monitor how average bookings are moving and whether we are getting confidence in the backlog for the next 12+ months," said Sara Russo of Bernstein.

    "I do agree with ASML that in the context of a single quarter of bookings, it’s not a very useful measure of the longer-term health and stability of the business." 

    Fourth-quarter bookings of 7.1 billion euros ($7.4 billion) compared to the third quarter's 2.6 billion euros. The big difference was likely timing of orders from top chipmaker TSMC of Taiwan, which this month announced plans for $38 billion in capital spending in 2025. 

    "Capex for large spenders TSMC, Intel, and Samsung already tells you enough," said Degroof Petercam analyst Michael Roeg, who said he was okay with ASML's decision despite initially viewing it as a step backward in transparency.

    In 2024, ASML shares surged more than 30% and then handed back all of those gains, but Dassen noted the company's full-year sales and margins wound up in line with forecasts the company had issued last January.

    "If you put all those quarters together, you see it wasn't too shabby, was it?" he told reporters.

    ($1 = 0.9608 euros)

    (Reporting by Toby Sterling; Editing by Mark Potter)

    Key Takeaways

    • •ASML will stop publishing new order bookings due to volatility.
    • •The company believes forecasts are a better guide for investors.
    • •Bookings can cause significant stock price swings.
    • •Fourth-quarter bookings were notably higher than the third.
    • •TSMC's capital spending plans influence ASML's orders.

    Frequently Asked Questions about ASML to stop publishing most-closely watched metric - bookings

    1Why did ASML stop publishing new order bookings?

    ASML decided to stop publishing new order bookings because they believe their own forecasts, based on discussions with chipmakers, provide a better guide for understanding business health.

    2How did ASML's stock react to the announcement?

    Following the announcement, ASML's stock spiked by 7% due to better than expected fourth-quarter bookings.

    3What was the fourth-quarter booking amount for ASML?

    ASML reported fourth-quarter bookings of 7.1 billion euros, a significant increase from 2.6 billion euros in the third quarter.

    4What do analysts think about ASML's decision?

    Analysts have mixed feelings; while some find it regrettable, they also understand the reasoning behind it, noting that average bookings can still be monitored.

    5What factors influence ASML's order bookings?

    Order bookings can take between six and 18 months to fill, making it challenging to interpret quarterly figures, which can lead to significant stock price fluctuations.

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