P 
40.16
-0.30%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in EUR, from our data supplier.
Revenue
€5.72bn
FY2016FY2025
Net income
€851.9m
FY2016FY2025
Free cash flow
€1.00bn
FY2016FY2025
Shareholders' equity
€4.64bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €5.72bn | €5.43bn | €4.73bn | €4.20bn | €3.37bn | €2.42bn | €3.23bn | €3.14bn | €2.99bn | €3.18bn |
| Gross profit | €4.59bn | €4.34bn | €3.80bn | €3.31bn | €2.55bn | €1.74bn | €2.32bn | €2.26bn | €2.22bn | €2.29bn |
| Research and development | €160.3m | €158.1m | €150.6m | €137.5m | €115.3m | €102.2m | €127.4m | €125.2m | €127.1m | €125.3m |
| Operating income | €1.30bn | €1.28bn | €1.05bn | €776.0m | €489.5m | €20.1m | €307.0m | €324.0m | €344.8m | €431.2m |
| Net income | €851.9m | €838.9m | €671.0m | €465.2m | €294.3m | −€54.1m | €255.8m | €205.4m | €237.5m | €278.3m |
| Diluted earnings per share | 0.33 | 0.33 | 0.26 | 0.18 | 0.11 | -0.02 | 0.10 | 0.08 | 0.09 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €11.01bn | €8.55bn | €7.62bn | €7.38bn | €6.96bn | €6.53bn | €7.04bn | €4.68bn | €4.74bn | €4.66bn |
| Cash and short-term investments | €1.26bn | €1.01bn | €689.5m | €1.09bn | €981.8m | €442.4m | €431.8m | €612.8m | €892.6m | €722.2m |
| Total liabilities | €6.35bn | €4.13bn | €3.74bn | €3.88bn | €3.83bn | €3.68bn | €4.05bn | €1.78bn | €1.89bn | €1.55bn |
| Debt | €4.82bn | €2.79bn | €2.60bn | €2.67bn | €2.79bn | €2.48bn | €3.24bn | €908.9m | €726.5m | €554.7m |
| Shareholders' equity | €4.64bn | €4.40bn | €3.85bn | €3.48bn | €3.11bn | €2.83bn | €2.97bn | €2.88bn | €2.84bn | €3.08bn |
| Shares outstanding | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m | 2,559m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.59bn | €1.65bn | €1.16bn | €1.12bn | €1.14bn | €592.4m | €809.9m | €365.1m | €446.5m | €631.9m |
| Capital spending | −€587.9m | −€459.6m | −€759.7m | −€241.5m | −€219.6m | −€109.6m | −€311.0m | −€282.1m | −€232.0m | −€227.6m |
| Free cash flow | €1.00bn | €1.19bn | €395.6m | €882.2m | €923.9m | €482.9m | €498.9m | €83.0m | €214.5m | €404.2m |
| Dividends paid | −€403.8m | −€350.6m | −€281.5m | −€179.1m | −€89.6m | −€89.6m | −€153.5m | −€191.9m | −€335.0m | −€281.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €3.10bn | €2.98bn | €2.74bn | €2.88bn | €2.55bn | €2.49bn | €1.11bn | €2.23bn |
| Gross profit | €2.43bn | €2.40bn | €2.19bn | €2.30bn | €2.03bn | €2.01bn | €1.11bn | €1.79bn |
| Operating income | €539.4m | €691.7m | €607.3m | €704.4m | €575.1m | €570.3m | €1.11bn | €491.4m |
| Net income | €332.5m | €466.1m | €385.9m | €455.4m | €383.5m | €365.9m | — | €305.2m |
| Diluted earnings per share | 0.13 | 0.18 | 0.15 | 0.18 | 0.15 | 0.14 | — | 0.12 |
| Cash from operations | €698.0m | €1.00bn | €689.0m | €852.0m | €799.0m | €761.0m | — | €393.0m |
| Capital spending | −€251.0m | −€356.0m | −€270.0m | −€276.0m | −€182.0m | −€610.0m | — | −€149.0m |
| Free cash flow | €447.0m | €648.0m | €419.0m | €576.0m | €617.0m | €151.0m | — | €244.0m |
| Total assets | €10.88bn | €11.01bn | €8.32bn | €8.55bn | €7.74bn | €7.62bn | — | €7.22bn |
| Cash and short-term investments | €1.02bn | €1.26bn | €598.0m | €1.01bn | €661.3m | €689.5m | — | €766.3m |
| Debt | €690.7m | €4.82bn | €2.80bn | €2.79bn | €2.55bn | €2.60bn | — | €2.68bn |
| Shareholders' equity | €4.58bn | €4.64bn | €4.22bn | €4.40bn | €3.92bn | €3.85bn | — | €3.50bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 80.3% | 79.8% | 80.4% | 78.8% | 75.7% | 72.0% |
| Operating margin | 22.7% | 23.6% | 22.2% | 18.5% | 14.5% | 0.8% |
| Net margin | 14.9% | 15.4% | 14.2% | 11.1% | 8.7% | -2.2% |
| Return on equity | 18.3% | 19.1% | 17.4% | 13.4% | 9.4% | -1.9% |
| Return on assets | 7.7% | 9.8% | 8.8% | 6.3% | 4.2% | -0.8% |
| Free cash flow yield | 2.3% | 2.3% | 2.0% | 1.5% | 1.5% | 0.7% |
| Revenue growth | 5.3% | 14.9% | 12.5% | 24.8% | 38.9% | -24.9% |
| Earnings growth | 1.6% | 25.0% | 44.2% | 58.1% | -643.5% | -121.2% |
| Current ratio | 1.38x | 1.52x | 1.49x | 1.63x | 1.53x | 1.35x |
| Debt to equity | 0.48x | 0.19x | 0.23x | 0.27x | 0.37x | 0.27x |
| Equity ratio | 42.2% | 51.5% | 50.6% | 47.2% | 44.7% | 43.4% |
| Interest coverage | 12.49x | 14.16x | 13.43x | 16.47x | 10.64x | 0.38x |
| R&D as a share of sales | 2.8% | 2.9% | 3.2% | 3.3% | 3.4% | 4.2% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.8% | 18.7% | 4.9% |
| Operating income | 18.7% | 130.3% | 10.0% |
| Net income | 22.3% | — | 9.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 80.1% | 79.9% | 78.6% | 76.2% |
| Operating margin | 23.1% | 21.9% | 19.0% | 16.3% |
| Net margin | 15.2% | 14.1% | 11.9% | 10.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.8 | 22.8 | 19.8 | 29.2 | 49.1 | -253.8 | 36.9 | 35.9 | 32.7 | 29.5 |
| Price to sales | 2.2 | 3.5 | 2.8 | 3.2 | 4.3 | 5.7 | 2.9 | 2.3 | 2.6 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 6 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.166 | 1.432 | 1.274 | 0.942 | 0.572 | 0.035 | 0.52 | 0.075 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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