A 
Adyen ADYEN.AS · EUR
Information Technology · IT Services · Euronext Amsterdam · 🇳🇱 Netherlands
Euro Stoxx 50
880.70
-2.27%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€2.67bn
FY2016FY2025
Net income
€1.06bn
FY2016FY2025
Free cash flow
€904.6m
FY2016FY2025
Shareholders' equity
€5.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €2.67bn | €2.01bn | €1.63bn | €1.33bn | €1.00bn | €684.2m | €534.3m | €348.9m | €218.3m | €165.0m |
| Research and development | — | €3.3m | €3.5m | €5.2m | €3.1m | €2.5m | €2.2m | €1.7m | €1.3m | €1.0m |
| Operating income | €1.11bn | €1.31bn | €995.3m | €939.4m | €754.9m | €500.1m | €408.6m | €259.0m | €153.4m | €110.4m |
| Net income | €1.06bn | €925.2m | €698.3m | €564.1m | €469.7m | €261.0m | €234.3m | €131.1m | €71.3m | €97.2m |
| Diluted earnings per share | 33.61 | 29.59 | 22.41 | 18.21 | 15.31 | 8.51 | 7.67 | 4.29 | 2.33 | 3.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €12.26bn | €11.43bn | €9.57bn | €7.62bn | €5.78bn | €4.16bn | €2.61bn | €1.86bn | €1.14bn | €1.38bn |
| Cash and short-term investments | €10.83bn | €9.99bn | €8.22bn | €6.45bn | €4.60bn | €2.75bn | €753.2m | €1.25bn | €574.9m | €680.1m |
| Total liabilities | €6.97bn | €7.19bn | €6.42bn | €5.20bn | €3.97bn | €2.94bn | €1.74bn | €1.28bn | €747.4m | €1.06bn |
| Debt | €252.4m | €228.3m | €223.1m | €203.1m | €143.0m | €131.5m | €61.7m | €10.7m | €717.3m | €1.03bn |
| Shareholders' equity | €5.29bn | €4.23bn | €3.15bn | €2.42bn | €1.81bn | €1.22bn | €868.3m | €582.4m | €389.8m | €315.0m |
| Shares outstanding | 32m | 31m | 31m | 31m | 31m | 31m | 31m | 31m | 31m | 31m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.03bn | €1.70bn | €1.87bn | €2.02bn | €1.82bn | €1.02bn | €529.5m | €384.0m | €200.7m | €193.7m |
| Capital spending | −€125.8m | −€101.2m | −€69.7m | −€95.6m | −€51.4m | −€17.1m | −€15.2m | −€13.8m | −€11.0m | −€12.5m |
| Free cash flow | €904.6m | €1.60bn | €1.80bn | €1.93bn | €1.77bn | €999.6m | €514.3m | €370.2m | €189.7m | €181.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.46bn | €1.42bn | €1.10bn | €1.09bn | €924.0m | €887.0m | €853.5m | €4.99bn |
| Operating income | €570.3m | €627.1m | €724.8m | €730.5m | €576.5m | €542.1m | €279.1m | €333.8m |
| Net income | €544.1m | €581.6m | €481.0m | €515.5m | €409.6m | €416.1m | €282.2m | €282.0m |
| Diluted earnings per share | 17.18 | 18.40 | 15.22 | 16.49 | 13.10 | 13.36 | 9.06 | 9.10 |
| Cash from operations | €2.28bn | −€1.63bn | €2.66bn | €1.20bn | €509.0m | €456.0m | −€51.0m | €1.01bn |
| Capital spending | −€68.0m | −€77.0m | −€22.0m | −€57.0m | −€40.0m | −€13.0m | −€56.0m | −€99.0m |
| Free cash flow | €2.21bn | −€1.71bn | €2.64bn | €1.14bn | €469.0m | €443.0m | −€107.0m | €911.0m |
| Total assets | €14.72bn | €12.26bn | €13.94bn | €11.43bn | €10.08bn | €9.57bn | €7.64bn | €7.62bn |
| Cash and short-term investments | €12.40bn | €10.83bn | €12.55bn | €9.88bn | €8.65bn | €8.22bn | €6.34bn | €6.45bn |
| Debt | €71.1m | €69.1m | €56.1m | €54.9m | €103.8m | €101.3m | €42.6m | €203.1m |
| Shareholders' equity | €5.91bn | €5.29bn | €4.68bn | €4.23bn | €3.58bn | €3.16bn | €2.73bn | €2.41bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 41.5% | 64.9% | 61.2% | 70.6% | 75.4% | 73.1% | — |
| Net margin | 39.8% | 45.9% | 42.9% | 42.4% | 46.9% | 38.1% | — |
| Return on equity | 20.1% | 21.9% | 22.2% | 23.3% | 25.9% | 21.4% | — |
| Return on assets | 8.7% | 8.1% | 7.3% | 7.4% | 8.1% | 6.3% | — |
| Free cash flow yield | 4.2% | 6.6% | 7.1% | 7.8% | 6.9% | 3.8% | — |
| Revenue growth | 32.6% | 23.9% | 22.2% | 32.8% | 46.4% | 28.1% | — |
| Earnings growth | 14.8% | 32.5% | 23.8% | 20.1% | 80.0% | 11.4% | — |
| Current ratio | 168.11x | 1.55x | 1.45x | 1.42x | 1.43x | 1.37x | — |
| Debt to equity | 0.01x | 0.01x | 0.02x | 0.01x | 0.03x | 0.02x | — |
| Equity ratio | 43.1% | 37.0% | 32.9% | 31.7% | 31.3% | 29.3% | — |
| Interest coverage | 147.42x | 48.88x | 208.08x | 78.53x | 59.03x | 53.17x | — |
| R&D as a share of sales | — | 0.2% | 0.2% | 0.4% | 0.3% | 0.4% | 0.4% |
| Buybacks as a share of market value | -1.1% | -0.3% | -0.6% | -1.0% | -0.0% | -0.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 26.2% | 31.3% | 38.9% |
| Operating income | 5.7% | 17.3% | 33.7% |
| Net income | 23.5% | 32.4% | 41.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 51.6% | 56.9% | 60.1% | 61.7% |
| Net margin | 42.4% | 42.5% | 42.7% | 42.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 40.9 | 48.6 | 52.0 | 43.2 | 92.1 | 136.6 | 58.1 | 67.6 |
| Price to sales | 16.3 | 22.3 | 22.4 | 18.3 | 43.2 | 52.1 | 25.5 | 25.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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