A 
118.20
+0.94%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€6.70bn
FY2016FY2025
Net income
€381.0m
FY2016FY2025
Free cash flow
€257.0m
FY2016FY2025
Shareholders' equity
€4.35bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €6.70bn | €6.16bn | €5.50bn | €4.69bn | €2.78bn | €2.14bn | €4.70bn | €4.01bn | €3.62bn | €2.95bn |
| Research and development | €88.0m | €81.0m | €88.0m | €83.0m | €52.0m | — | €69.0m | €68.0m | €50.0m | €49.0m |
| Operating income | €1.57bn | €994.0m | €1.24bn | €951.0m | −€81.0m | −€502.0m | €948.0m | €1.23bn | €886.0m | €745.0m |
| Net income | €381.0m | €342.0m | €631.0m | €516.0m | −€248.0m | −€1.17bn | €588.0m | €610.0m | €571.0m | €435.0m |
| Diluted earnings per share | 3.86 | 3.44 | 6.40 | 5.22 | -2.51 | -11.81 | 5.94 | 6.16 | 5.77 | 4.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €20.27bn | €20.18bn | €19.66bn | €18.84bn | €18.36bn | €18.57bn | €16.79bn | €16.07bn | €14.28bn | €10.59bn |
| Cash and short-term investments | €1.89bn | €2.17bn | €2.44bn | €2.63bn | €2.38bn | €3.46bn | €1.98bn | €2.15bn | €2.11bn | €1.67bn |
| Total liabilities | €14.86bn | €14.67bn | €14.36bn | €13.93bn | €14.13bn | €14.31bn | €10.73bn | €10.27bn | €8.84bn | €6.30bn |
| Debt | €9.91bn | €9.96bn | €9.67bn | €9.84bn | €10.13bn | €10.73bn | €7.25bn | €6.97bn | €5.84bn | €4.41bn |
| Shareholders' equity | €4.35bn | €4.42bn | €4.36bn | €4.03bn | €3.52bn | €3.65bn | €5.03bn | €4.85bn | €4.58bn | €4.28bn |
| Shares outstanding | 99m | 100m | 99m | 99m | 99m | 99m | 99m | 99m | 99m | 99m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.52bn | €1.52bn | €1.59bn | €1.34bn | €757.0m | €118.0m | €1.55bn | €1.55bn | €1.27bn | €875.0m |
| Capital spending | −€1.26bn | −€1.09bn | −€1.01bn | −€695.0m | −€583.0m | −€848.0m | −€1.20bn | −€1.08bn | −€847.0m | −€767.0m |
| Free cash flow | €257.0m | €435.0m | €578.0m | €645.0m | €174.0m | −€730.0m | €350.0m | €474.0m | €423.0m | €108.0m |
| Dividends paid | −€296.0m | −€377.0m | −€309.0m | −€20.0m | −€12.0m | −€15.0m | −€366.0m | −€342.0m | −€261.0m | −€258.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €3.21bn | €3.54bn | €3.16bn | €3.27bn | €2.89bn | €2.95bn | €2.54bn | €694.3m |
| Operating income | €521.0m | €372.0m | €444.0m | €307.0m | €670.0m | €611.0m | €435.0m | €10.5m |
| Net income | €312.0m | €284.0m | €97.0m | −€5.0m | €347.0m | €420.0m | €211.0m | −€62.0m |
| Diluted earnings per share | 3.15 | 2.88 | 0.98 | -0.05 | 3.49 | 4.26 | 2.14 | -0.63 |
| Cash from operations | €532.0m | €834.0m | €688.0m | €864.0m | €647.0m | €921.0m | €618.0m | €189.0m |
| Capital spending | −€548.0m | −€807.0m | −€458.0m | −€636.0m | −€453.0m | −€656.0m | −€353.0m | −€145.0m |
| Free cash flow | −€16.0m | €27.0m | €230.0m | €228.0m | €194.0m | €265.0m | €265.0m | €44.0m |
| Total assets | €21.28bn | €20.27bn | €20.00bn | €20.18bn | €19.87bn | €19.66bn | €19.05bn | €4.59bn |
| Cash and short-term investments | €2.53bn | €1.87bn | €1.94bn | €2.17bn | €2.04bn | €2.34bn | €2.25bn | €643.0m |
| Debt | €2.03bn | €10.49bn | €10.49bn | €10.64bn | €10.49bn | €9.72bn | €10.26bn | — |
| Shareholders' equity | €4.31bn | €4.35bn | €4.07bn | €4.42bn | €4.37bn | €4.36bn | €3.98bn | €1.04bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 23.4% | 16.1% | 22.6% | 20.3% | -2.9% | -23.5% | — |
| Net margin | 5.7% | 5.6% | 11.5% | 11.0% | -8.9% | -54.7% | — |
| Return on equity | 8.8% | 7.7% | 14.5% | 12.8% | -7.1% | -32.0% | — |
| Return on assets | 1.9% | 1.7% | 3.2% | 2.7% | -1.4% | -6.3% | — |
| Free cash flow yield | 26.3% | 24.4% | 24.5% | 19.1% | 12.6% | 9.1% | — |
| Revenue growth | 8.9% | 12.1% | 17.2% | 68.8% | 29.9% | -54.5% | — |
| Earnings growth | 11.4% | -45.8% | 22.3% | -308.1% | -78.8% | -298.8% | — |
| Current ratio | 0.89x | 0.95x | 0.97x | 1.29x | 1.26x | 1.44x | — |
| Debt to equity | 2.25x | 2.39x | 2.23x | 2.46x | 2.93x | 2.96x | — |
| Equity ratio | 21.4% | 21.9% | 22.2% | 21.4% | 19.1% | 19.7% | — |
| Interest coverage | 2.36x | 2.92x | 3.72x | 2.82x | -0.22x | -1.65x | — |
| R&D as a share of sales | 1.3% | 1.3% | 1.6% | 1.8% | 1.9% | — | 1.5% |
| Buybacks as a share of market value | 0.9% | -0.9% | 0.3% | 0.0% | -0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.7% | 25.7% | 8.6% |
| Operating income | 18.1% | — | 8.2% |
| Net income | -9.6% | — | -1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.9% | 20.6% | 14.9% | 18.8% |
| Net margin | 5.6% | 8.1% | 1.6% | 6.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.7 | 32.5 | 18.3 | 24.0 | -45.2 | -9.0 | 29.6 | 26.9 | 27.5 | 23.1 |
| Price to sales | 1.6 | 1.8 | 2.1 | 2.6 | 4.0 | 4.9 | 3.7 | 4.1 | 4.3 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 2 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.80 | 3.00 | 3.82 | 3.13 | 3.70 | 3.46 | 2.64 | 2.61 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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