Scouting report · ASML
Christophe D. Fouquet
ASML lifer since 2008; ran Applications and EUV, CEO since April 2024
A86 / 100
Ranked #3 of 23
Scouting sheet
as of 24 Sep 2026Delivers guidance877 beat · 12 met · 0 missed · 0 withdrawn
Answers the question980 dodges in 46 answers on 3 calls
Capital allocation—company five-year record: compounds — inherited: the five-year record is mostly a predecessor's
Pay design9081% performance-conditioned · margin, strategic, relative tsr, roic · 92.76% for · 0.07% of net income
Skin in the game49stake worth €6.5m, 0.9× last year's pay
- Age
- 52src
- In the role
- 2 yr
- Promises scored
- 19
- Hit rate
- 100%
- Dodges / 100 answers
- 0.0
- Airtime on calls
- 34%
Every promise, oldest firstBMMBBMBMBMMMMMMMMBB
What to weigh
Watch 4
- Accounted pay rose 54% in 2024 and 29% in 2025 to EUR 7.0m under the 2025 policy (adopted with 91.43%); the internal pay ratio rose to 46:1 from 40:1src
- 2025 STI paid 142.5% of target even though the EUV 0.55 NA insertion sub-target scored 0%; EBIT margin (60% weight) came in at 34.6% against a 33.0% stretchsrc
- The stake is small next to pay: 7,040 shares at 2025 year end, about EUR 6.5m at the 20-F's EUR 921.40 close, under one year of 2025 paysrc
- In January 2026 he announced the streamlining of the Technology and IT organisations alongside a new buyback of up to EUR 12bn by 2028src
In their favour 2
- Long-term pay rests on relative TSR (25%) and three-year ROAIC (35%), with a two-year holding period after vesting; he met the 4x-salary ownership guideline at 2025 year end (ratio 5.77)src
- The first FY2026 guide was EUR 34-39bn net sales at 51-53% gross margin; by the July call it stood at EUR 43-45bn at 54-56%src
Career
- 2024 – nowASML Holdingsrc
President, CEO & Chair of the Board of Management
Appointed 2024-04-24, succeeding co-Presidents Peter Wennink and Martin van den Brink, who retired that day (PR-2023-11-30) - 2022 – 2024
- 2018 – 2022ASML Holdingsrc
EVP EUV; member of the Board of Management from the 2018 AGM
Took over Business Line EUV from Frits van Hout on 2018-04-01 (PR-2018-02-20) - 2013 – 2018
- 2008 – 2013ASML Holdingsrc
Senior Director Marketing, then VP Product Management
The 20-F lists these roles without dates; the 2023 release says he started his ASML career in DUV - 2003 – 2008
- 1997 – 2001Applied Materialssrc
Global Product Manager
Employer from the 20-F; title and years from a search summary only
Not located: 2001-2003 not located in any source searched; pre-2008 titles and years come from a search summary, not a filing
Achievements
- Built the Applications business line into a pillar of ASML's holistic lithography strategy, with strong organic growth and the Taiwan-based HMI acquisitionsrc
- Ran the EUV business from April 2018 to 2022 with the brief to industrialise EUV at customer fabs and introduce High-NA EUVsrc
- Chosen as CEO in a Supervisory Board succession process announced 2023-11-30 after 15 years at ASMLsrc
- Net sales rose from EUR 28.3bn (2024) to EUR 32.7bn (2025) and US GAAP net income from EUR 7.57bn to EUR 9.61bn in his first full yearsrc
- In 2025 ASML became lead investor in Mistral AI with EUR 1.3bn for about 11% fully diluted, a partnership his CEO letter presents as a landmarksrc
Education
- Institut Polytechnique de Grenoble, Master's Physicssrc
Background
- Family The FY2025 20-F contains no family-relationship statement for the Board of Management (searched); none disclosedsrc
- Other French national. Sits on the Board of Management as the member responsible for ESG sustainabilitysrc
- Other Serves under a management services agreement, not a Dutch employment contract; severance capped at one year's base salarysrc
- Other The 20-F reports no related-party transactions in 2025 other than ordinary course pay, and no personal loans or guarantees to board memberssrc
The promise ledger
19 scored · 0 open| Result | What was promised | Where it is scored | How |
|---|---|---|---|
| B Beat | Q3 2024 net sales €6.7–7.3bn | ASML row 1 | written outlook |
| M Met | Q3 2024 GM 50–51% | ASML row 2 | written outlook |
| M Met | FY2024 net sales "similar to 2023" (€27,559m) | ASML row 3 | written outlook |
| B Beat | Q4 2024 net sales €8.8–9.2bn | ASML row 4 | written outlook |
| B Beat | Q4 2024 GM 49–50% | ASML row 5 | written outlook |
| M Met | Q1 2025 net sales €7.5–8.0bn | ASML row 6 | written outlook |
| B Beat | Q1 2025 GM 52–53% | ASML row 7 | written outlook |
| M Met | Q2 2025 net sales €7.2–7.7bn | ASML row 8 | written outlook |
| B Beat | Q2 2025 GM 50–53% (band widened for tariffs, PR-Q1-25 note 3) | ASML row 9 | written outlook |
| M Met | Q3 2025 net sales €7.4–7.9bn | ASML row 10 | written outlook |
| M Met | Q3 2025 GM 50–52% | ASML row 11 | written outlook |
| M Met | Q4 2025 net sales €9.2–9.8bn | ASML row 12 | written outlook |
| M Met | Q4 2025 GM 51–53% | ASML row 13 | written outlook |
| M Met | FY2025 net sales €30–35bn | ASML row 14 | written outlook |
| M Met | FY2025 GM 51–53% | ASML row 15 | written outlook |
| M Met | Q1 2026 net sales €8.2–8.9bn | ASML row 16 | written outlook |
| M Met | Q1 2026 GM 51–53% | ASML row 17 | written outlook |
| B Beat | Q2 2026 net sales €8.4–9.0bn | ASML row 18 | written outlook |
| B Beat | Q2 2026 GM 51–52% | ASML row 19 | written outlook |
Questions dodged
0.0 per 100 answersNone logged on the calls reviewed.
Calls reviewed
FY2025-Q1.roic.json— 16 answers, 35% of the wordsFY2025-Q2.roic.json— 12 answers, 37% of the wordsFY2026-Q2.roic.json— 18 answers, 30% of the words
Sources
7- Filing ASML Holding 20-F for FY2025 (accession 0001628280-26-011378): Board of Management bios, Remuneration report, signature page · 2026-02-25
- Filing ASML 6-K, Ex. 99.1 'ASML discloses 2026 AGM results' (0001628280-26-026703) · 2026-04-23
- Filing ASML 6-K, Ex. 99.1 'ASML Welcomes Christophe Fouquet to Board of Management' (0001341004-18-000151) · 2018-02-20
- Filing ASML 6-K, Ex. 99.1 'Supervisory Board intends to appoint Christophe Fouquet as President and CEO' (0000937966-23-000031) · 2023-11-30
- Filing ASML 6-K, Q4 2025 results press release (0001628280-26-003701) · 2026-01-28
- Web search result WebSearch: Fouquet ASML Applied Materials KLA-Tencor career years (summary of results incl. MarketScreener insider page; page itself not fetched) · 2026-09-24
- Call transcript ASML Q2 2026 earnings call (2026-07-15), ROIC.ai