A 
270.80
+1.04%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue, before interest expense
€5.96bn
FY2016FY2025
Net income
€592.5m
FY2016FY2025
Total assets
€21.26bn
FY2016FY2025
Shareholders' equity
€5.70bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €5.96bn | €6.04bn | €5.22bn | €4.40bn | €4.31bn | €3.91bn | €4.27bn | €4.47bn | €3.96bn | €3.66bn |
| Research and development | — | — | €509,000 | €108,000 | €30,000 | €663,000 | €771,000 | €573,000 | €70,000 | — |
| Operating income | €813.7m | €478.4m | €428.1m | €363.8m | €409.6m | €209.3m | €491.6m | €616.9m | €649.9m | €460.9m |
| Net income | €592.5m | €459.9m | €399.2m | €708.7m | €406.8m | €229.8m | €394.9m | €289.6m | €302.5m | €224.2m |
| Diluted earnings per share | 18.11 | 14.06 | 12.17 | 21.38 | 12.26 | 6.93 | 11.89 | 8.71 | 9.10 | 6.74 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €21.26bn | €20.29bn | €19.02bn | €17.68bn | €17.24bn | €16.29bn | €15.36bn | €14.17bn | €13.47bn | €12.88bn |
| Cash and short-term investments | €2.20bn | €3.94bn | €1.58bn | €1.71bn | €1.46bn | €1.39bn | €1.36bn | €1.01bn | €1.10bn | €1.38bn |
| Total liabilities | €13.94bn | €13.48bn | €12.64bn | €11.68bn | €12.01bn | €11.50bn | €10.67bn | €9.81bn | €9.27bn | €8.96bn |
| Debt | €10.44bn | €9.95bn | €9.67bn | €8.96bn | €9.42bn | €9.04bn | €8.26bn | €7.23bn | €6.73bn | €6.41bn |
| Shareholders' equity | €5.70bn | €5.28bn | €4.91bn | €4.63bn | €3.96bn | €3.56bn | €3.46bn | €3.18bn | €2.97bn | €2.78bn |
| Shares outstanding | 33m | 33m | 33m | 33m | 33m | 33m | 33m | 33m | 33m | 33m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €3.03bn | €2.93bn | €3.03bn | €3.16bn | €2.89bn | €2.79bn | €2.43bn | €2.25bn |
| Operating income | €375.2m | €382.7m | €327.5m | €409.2m | €196.8m | €337.1m | €176.9m | €207.1m |
| Net income | €339.6m | €319.3m | €273.2m | €259.5m | €200.4m | €228.5m | €170.7m | €430.3m |
| Diluted earnings per share | 10.35 | 9.76 | 8.35 | 7.93 | 6.13 | 6.97 | 5.20 | 12.98 |
| Total assets | €21.26bn | €21.26bn | €20.61bn | €20.29bn | €19.70bn | €19.02bn | €18.58bn | €17.68bn |
| Cash and short-term investments | €2.24bn | €2.20bn | €1.96bn | €3.94bn | €1.69bn | €1.58bn | €1.63bn | €1.71bn |
| Debt | €7.51bn | €10.32bn | €3.51bn | €9.78bn | €2.93bn | €2.92bn | €9.56bn | €8.85bn |
| Shareholders' equity | €5.90bn | €5.70bn | €5.36bn | €5.28bn | €5.02bn | €4.91bn | €4.75bn | €4.63bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 13.6% | 13.4% | 12.8% | 16.0% | 14.5% | 5.3% | — | — |
| Net margin | 9.9% | 7.6% | 7.6% | 16.1% | 9.4% | 5.9% | — | — |
| Return on equity | 10.4% | 8.7% | 8.1% | 15.3% | 10.3% | 6.5% | — | — |
| Return on assets | 2.8% | 2.3% | 2.1% | 4.0% | 2.4% | 1.4% | — | — |
| Revenue growth | -1.4% | 15.7% | 18.6% | 2.1% | 10.3% | -8.4% | — | — |
| Earnings growth | 28.9% | 15.2% | -43.7% | 74.2% | 77.0% | -41.8% | — | — |
| Current ratio | 0.76x | 0.76x | 0.68x | 0.64x | 0.60x | 0.66x | — | — |
| Debt to equity | 1.81x | 1.85x | 1.94x | 1.91x | 2.34x | 2.49x | — | — |
| Equity ratio | 26.8% | 26.0% | 25.8% | 26.2% | 22.9% | 21.9% | — | — |
| Interest coverage | 4.50x | 3.89x | 4.43x | 12.25x | 11.08x | 3.33x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | -0.0% | 0.3% | 1.1% | 0.1% | -0.0% | 0.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.6% | 8.8% | 4.0% |
| Operating income | 30.8% | 31.2% | 8.0% |
| Net income | -5.8% | 20.9% | 7.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.8% | 9.6% | 9.1% | 10.5% |
| Net margin | 8.8% | 10.0% | 9.4% | 8.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.8 | 13.6 | 13.1 | 7.5 | 13.8 | 17.8 | 11.8 | 15.1 | 15.9 | 19.6 |
| Price to sales | 1.3 | 1.0 | 1.0 | 1.2 | 1.3 | 1.0 | 1.1 | 1.0 | 1.2 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 31 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.60 | 3.80 | 3.40 | 3.10 | 2.75 | 2.35 | 2.32 | 2.32 |
- 1-to-1 reverse split · 6 Nov 2002
- 10-for-1 split · 25 Jun 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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