As of Q4'25, ASML reported an operating income of USD 2.51B, representing a year-over-year decrease of 25.16%. This marks a notable decline from the previous quarter, where operating income stood at USD 2.47B with a marginal YoY increase of 1.11%. From Q1'23 to Q4'25, ASML's operating income exhibited significant volatility. After peaking at USD 3.36B in Q4'24 with a strong YoY growth of 40.28%, the company experienced a sharp contraction in Q1'24 and Q2'24, both in absolute income and YoY terms. The trend rebounded through the remainder of 2024, culminating in the Q4'24 high, but subsequently declined throughout 2025, with YoY growth turning negative by year-end. This pattern highlights a period of robust growth followed by a correction and stabilization at lower levels.