A 
189.46
+0.89%
Close of 9 Nov 2026, in EUR
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in EUR, from our data supplier.
Revenue
€26.94bn
FY2016FY2025
Net income
€3.52bn
FY2016FY2025
Free cash flow
€2.51bn
FY2016FY2025
Shareholders' equity
€26.21bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €26.94bn | €27.06bn | €27.61bn | €29.93bn | €23.33bn | €20.49bn | €21.92bn | €21.01bn | €20.35bn | €18.13bn |
| Research and development | €439.0m | €309.0m | €309.0m | €308.0m | €304.0m | €303.0m | €317.0m | €300.0m | €292.0m | €288.0m |
| Operating income | €5.58bn | €4.95bn | €4.57bn | €4.29bn | €4.01bn | €3.65bn | €3.61bn | €3.29bn | €3.02bn | €3.06bn |
| Net income | €3.52bn | €3.31bn | €3.08bn | €2.76bn | €2.57bn | €2.44bn | €2.24bn | €2.11bn | €2.20bn | €1.84bn |
| Diluted earnings per share | 6.10 | 5.72 | 5.89 | 5.27 | 4.93 | 4.69 | 4.32 | 4.08 | 4.26 | 3.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €51.91bn | €51.87bn | €48.33bn | €49.52bn | €46.78bn | €41.98bn | €43.67bn | €41.98bn | €41.03bn | €44.12bn |
| Cash and short-term investments | €3.96bn | €1.92bn | €1.62bn | €1.76bn | €2.10bn | €1.79bn | €1.03bn | €1.73bn | €1.69bn | €1.58bn |
| Total liabilities | €24.97bn | €24.25bn | €23.29bn | €24.95bn | €24.78bn | €22.97bn | €24.34bn | €23.77bn | €24.31bn | €26.99bn |
| Debt | €13.60bn | €12.39bn | €12.04bn | €13.38bn | €13.88bn | €13.49bn | €14.63bn | €14.13bn | €15.03bn | €16.89bn |
| Shareholders' equity | €26.21bn | €26.86bn | €24.32bn | €23.74bn | €21.46bn | €18.54bn | €18.87bn | €17.78bn | €16.32bn | €16.74bn |
| Shares outstanding | 577m | 578m | 522m | 524m | 521m | 519m | 519m | 517m | 516m | 528m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €6.35bn | €6.32bn | €6.26bn | €5.81bn | €5.57bn | €5.21bn | €4.71bn | €4.72bn | €4.25bn | €3.70bn |
| Capital spending | −€3.84bn | −€3.53bn | −€3.39bn | −€3.27bn | −€2.92bn | −€2.63bn | −€2.64bn | −€2.25bn | −€2.18bn | −€2.26bn |
| Free cash flow | €2.51bn | €2.80bn | €2.87bn | €2.54bn | €2.65bn | €2.58bn | €2.08bn | €2.47bn | €2.07bn | €1.44bn |
| Dividends paid | −€1.96bn | −€1.72bn | −€1.58bn | −€1.41bn | −€1.33bn | −€1.31bn | −€1.16bn | −€1.16bn | −€1.03bn | −€947.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €13.83bn | €13.22bn | €13.72bn | €13.68bn | €13.38bn | €13.63bn | €13.98bn | €15.73bn |
| Operating income | €2.89bn | €2.84bn | €2.69bn | €2.43bn | €2.60bn | €2.59bn | €2.48bn | €2.98bn |
| Net income | €1.82bn | €1.72bn | €1.80bn | €1.63bn | €1.68bn | €1.36bn | €1.72bn | €1.45bn |
| Diluted earnings per share | 2.86 | 2.98 | 3.12 | 2.81 | 2.91 | 2.60 | 3.30 | 2.78 |
| Cash from operations | €1.86bn | €3.50bn | €2.85bn | €3.40bn | €2.72bn | €3.23bn | €2.96bn | €2.90bn |
| Capital spending | −€1.83bn | −€2.01bn | −€1.84bn | −€1.87bn | −€1.66bn | −€1.68bn | −€1.71bn | −€1.64bn |
| Free cash flow | €30.0m | €1.49bn | €1.02bn | €1.53bn | €1.06bn | €1.55bn | €1.25bn | €1.27bn |
| Total assets | €56.28bn | €51.91bn | €49.34bn | €51.87bn | €49.89bn | €48.33bn | €48.56bn | €49.52bn |
| Cash and short-term investments | €2.06bn | €3.96bn | €1.64bn | €1.92bn | €1.79bn | €1.62bn | €1.71bn | €1.76bn |
| Debt | €5.02bn | €13.64bn | €12.66bn | €12.41bn | €13.24bn | €11.03bn | €13.46bn | €13.38bn |
| Shareholders' equity | €26.52bn | €26.21bn | €24.51bn | €26.86bn | €24.70bn | €24.32bn | €23.24bn | €23.74bn |
Financial ratios
Data as of 9 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 20.7% | 18.3% | 16.6% | 14.3% | 17.2% | 17.8% |
| Net margin | 13.1% | 12.2% | 11.1% | 9.2% | 11.0% | 11.9% |
| Return on equity | 13.4% | 12.3% | 12.7% | 11.6% | 12.0% | 13.1% |
| Return on assets | 6.8% | 6.4% | 6.4% | 5.6% | 5.5% | 5.8% |
| Free cash flow yield | 10.4% | 10.0% | 10.8% | 10.2% | 9.5% | 8.8% |
| Revenue growth | -0.4% | -2.0% | -7.8% | 28.3% | 13.9% | -6.5% |
| Earnings growth | 6.4% | 7.4% | 11.6% | 7.3% | 5.6% | 8.6% |
| Current ratio | 1.14x | 0.88x | 0.87x | 0.93x | 0.90x | 0.88x |
| Debt to equity | 0.48x | 0.42x | 0.45x | 0.52x | 0.60x | 0.68x |
| Equity ratio | 50.5% | 51.8% | 50.3% | 47.9% | 45.9% | 44.2% |
| Interest coverage | 12.71x | 10.56x | 9.81x | 9.70x | 9.59x | 8.08x |
| R&D as a share of sales | 1.6% | 1.1% | 1.1% | 1.0% | 1.3% | 1.5% |
| Buybacks as a share of market value | 0.2% | -10.7% | 0.3% | -0.5% | -0.4% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.5% | 5.6% | 5.5% |
| Operating income | 9.2% | 8.9% | 7.4% |
| Net income | 8.4% | 7.6% | 7.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.5% | 17.4% | 17.4% | 16.9% |
| Net margin | 12.6% | 11.4% | 11.4% | 11.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.2 | 27.4 | 27.2 | 22.9 | 25.7 | 23.7 | 24.1 | 19.9 | 18.5 | 20.7 |
| Price to sales | 3.4 | 3.4 | 3.0 | 2.1 | 2.8 | 2.8 | 2.5 | 2.0 | 2.0 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 18 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.364 | 3.00 | 2.645 | 2.438 | 2.179 | 2.066 | 2.029 | 1.81 |
- 11-for-10 split · 10 Jun 2024
- 11-for-10 split · 6 Jun 2022
- 11-for-10 split · 7 Oct 2019
- 11-for-10 split · 2 Oct 2017
- 11-for-10 split · 2 Jun 2014
- 1.103-for-1 split · 31 May 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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