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Analyst
Stephane Houri
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q3 (8 quarters; questions recorded in 4).
- Questions
- 5on tracked calls
- Challenge rate
- 0%none of 5 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 4with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 5 of 5 questions from 2 companies
ASMLASML Holding4 questions · 3 reporting periods · 0 of 4 challenging
Calendar 2026 Q3
If it is very balanced between memory and logic or if it is still memory manufacturer who are giving you
Show response
Christophe said both logic and DRAM customers are in discussions, with DRAM somewhat more aggressive on capacity buildup.
And in DRAM, is it at the same time, the U.S., Korea, and even China, or is it more concentrated
Show response
Christophe said the long-dated DRAM discussion is about EUV, which excludes China.
Calendar 2025 Q1
I have a first question about the order volatility and maybe to – come to understand better from you, if you think that the uncertainty around the tariffs in Q1 already had an impact on your orders...
Show response
Roger said Deep UV coverage is already ~90% to the midpoint, attributed Q1 order volatility to the normal customer-governance lumpiness rather than tariff impact, and said you cannot read a tariff signal from the order book yet.
Calendar 2024 Q4
One was on the non-EUV, non-China that was supposed to grow largely by the double digit, let's say, 50%. So can you maybe come back on that and confirm if that's still what you expect?
Show response
Roger reaffirmed €7.5B installed-base management for 2025 (flagging upgrade-driven quarterly lumpiness) and walked the non-China, non-EUV growth number back from 50% to approximately 40%, consistent with Q3 framing.
ARMArm Holdings1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
If you can give us the number where we stand now. Last quarter, I think it was about 30%
Show response
Jason confirmed annual v9 updates only going forward. Royalties stepped from 18% to 25% YoY growth, implying v9/CSS percentage continues rising. Rene noted each v9 generation has higher royalty rates.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| ASML ASML Holding | 4 | 0%none of 4 questions |
| ARM Arm Holdings | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | No questions recorded | — | — |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | No questions recorded | — | — |
| 2026 Q3 | 2 | 0%none of 2 questions | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q3No questions recorded
- 2025 Q4No questions recorded
- 2026 Q1No questions recorded
- 2026 Q2No questions recorded
- 2026 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand2
- Revenue Growth2
- Geographic Expansion1
- Innovation & R&D1
- Trade Tariffs1
- Guidance Reliability1