A 
63.98
+1.72%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€10.16bn
FY2016FY2025
Net income
€635.0m
FY2016FY2025
Free cash flow
€606.0m
FY2016FY2025
Shareholders' equity
€4.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €10.16bn | €10.71bn | €10.67bn | €10.85bn | €9.59bn | €8.53bn | €9.28bn | €9.26bn | €9.61bn | €14.20bn |
| Gross profit | €4.05bn | €4.34bn | €4.23bn | €3.92bn | €3.85bn | €3.79bn | €3.97bn | €3.93bn | €4.23bn | €6.01bn |
| Research and development | €274.0m | €296.0m | €270.0m | €258.0m | €230.0m | €238.0m | €255.0m | €58.0m | €65.0m | €97.0m |
| Operating income | €973.0m | €917.0m | €1.13bn | €708.0m | €1.12bn | €963.0m | €841.0m | €605.0m | €825.0m | €1.52bn |
| Net income | €635.0m | €542.0m | €442.0m | €352.0m | €829.0m | €630.0m | €539.0m | €6.67bn | €832.0m | €970.0m |
| Diluted earnings per share | 3.70 | 3.17 | 2.59 | 2.05 | 4.67 | 3.34 | 2.78 | 29.31 | 3.71 | 4.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €13.95bn | €14.25bn | €14.56bn | €14.74bn | €13.88bn | €13.18bn | €12.98bn | €18.78bn | €16.18bn | €16.20bn |
| Cash and short-term investments | €1.92bn | €1.47bn | €1.78bn | €1.79bn | €1.21bn | €1.86bn | €1.40bn | €8.25bn | €1.32bn | €1.48bn |
| Total liabilities | €9.13bn | €9.43bn | €10.01bn | €10.19bn | €8.24bn | €7.23bn | €6.42bn | €6.75bn | €9.87bn | €9.16bn |
| Debt | €4.67bn | €5.37bn | €5.56bn | €5.88bn | €3.55bn | €2.89bn | €2.21bn | €2.40bn | €3.27bn | €2.73bn |
| Shareholders' equity | €4.66bn | €4.57bn | €4.32bn | €4.33bn | €5.42bn | €5.75bn | €6.35bn | €11.83bn | €5.87bn | €6.55bn |
| Shares outstanding | 172m | 171m | 171m | 172m | 178m | 189m | 194m | 228m | 225m | 225m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €915.0m | €668.0m | €1.12bn | €254.0m | €605.0m | €1.22bn | €33.0m | €162.0m | €969.0m | €1.30bn |
| Capital spending | −€309.0m | −€306.0m | −€286.0m | −€292.0m | −€288.0m | −€258.0m | −€214.0m | −€160.0m | −€613.0m | −€634.0m |
| Free cash flow | €606.0m | €362.0m | €834.0m | −€38.0m | €317.0m | €962.0m | −€181.0m | €2.0m | €356.0m | €663.0m |
| Dividends paid | −€339.0m | −€385.0m | −€343.0m | −€350.0m | −€364.0m | −€366.0m | −€1.42bn | −€636.0m | −€1.19bn | −€336.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.59bn | €2.39bn | €2.37bn | €2.55bn | €2.63bn | €2.61bn | €2.62bn | €2.67bn |
| Gross profit | €1.09bn | €978.0m | €936.0m | €1.03bn | €1.04bn | €1.05bn | €1.03bn | €1.08bn |
| Operating income | €308.0m | €248.0m | €84.0m | €284.0m | €214.0m | €192.0m | €163.0m | €264.0m |
| Net income | €139.0m | €93.0m | €598.0m | −€194.0m | €124.0m | €107.0m | €21.0m | €163.0m |
| Diluted earnings per share | 0.81 | 0.54 | 3.48 | -1.13 | 0.72 | 0.62 | 0.12 | 0.95 |
| Cash from operations | €189.0m | −€71.0m | €462.0m | €331.0m | €234.0m | −€112.0m | €398.0m | €294.0m |
| Capital spending | −€62.0m | −€58.0m | −€111.0m | −€55.0m | −€72.0m | −€71.0m | −€114.0m | −€77.0m |
| Free cash flow | €127.0m | −€129.0m | €351.0m | €276.0m | €162.0m | −€183.0m | €284.0m | €217.0m |
| Total assets | €16.13bn | €15.49bn | €13.95bn | €13.90bn | €14.17bn | €14.85bn | €14.25bn | €15.35bn |
| Cash and short-term investments | €3.46bn | €3.03bn | €1.92bn | €1.32bn | €1.57bn | €1.77bn | €1.47bn | €2.18bn |
| Debt | €6.59bn | €1.35bn | €4.67bn | €1.70bn | €2.19bn | €1.72bn | €5.17bn | €6.25bn |
| Shareholders' equity | €4.85bn | €4.88bn | €4.66bn | €3.93bn | €4.17bn | €4.62bn | €4.57bn | €4.58bn |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 39.9% | 40.5% | 39.7% | 36.2% | 40.2% | 44.4% |
| Operating margin | 9.6% | 8.6% | 10.6% | 6.5% | 11.7% | 11.3% |
| Net margin | 6.3% | 5.1% | 4.1% | 3.2% | 8.6% | 7.4% |
| Return on equity | 13.6% | 11.8% | 10.2% | 8.1% | 15.3% | 11.0% |
| Return on assets | 4.6% | 3.8% | 3.0% | 2.4% | 6.0% | 4.8% |
| Free cash flow yield | 12.6% | 10.1% | 14.5% | 5.6% | 8.9% | 13.8% |
| Revenue growth | -5.2% | 0.4% | -1.6% | 13.1% | 12.4% | -8.0% |
| Earnings growth | 17.2% | 22.6% | 25.6% | -57.5% | 31.6% | 16.9% |
| Current ratio | 1.44x | 1.23x | 1.06x | 1.09x | 1.10x | 1.64x |
| Debt to equity | 1.00x | 1.13x | 1.24x | 1.31x | 0.62x | 0.46x |
| Equity ratio | 33.4% | 32.1% | 29.7% | 29.4% | 39.1% | 43.6% |
| Interest coverage | 4.89x | 4.83x | 5.87x | 6.68x | 15.11x | 9.93x |
| R&D as a share of sales | 2.7% | 2.8% | 2.5% | 2.4% | 2.4% | 2.8% |
| Buybacks as a share of market value | -0.6% | -0.1% | 0.5% | 3.5% | 5.9% | 2.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.2% | 3.6% | -3.7% |
| Operating income | 11.2% | 0.2% | -4.7% |
| Net income | 21.7% | 0.2% | -4.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.2% | 39.0% | 40.0% | 41.1% |
| Operating margin | 9.1% | 8.8% | 9.6% | 9.5% |
| Net margin | 5.6% | 4.7% | 5.7% | 11.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.0 | 18.3 | 28.9 | 30.5 | 20.7 | 26.3 | 32.6 | 2.7 | 22.2 | 15.5 |
| Price to sales | 1.0 | 0.9 | 1.2 | 1.0 | 1.8 | 1.9 | 1.9 | 1.9 | 1.9 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 27 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.54 | 1.98 | 2.45 | 1.98 | 1.98 | 1.96 | 1.92 | 15.12 |
- 9-to-8 reverse split · 22 Jan 2019
- 1-to-1 reverse split · 9 Jul 2001
- 4-for-1 split · 1 Jul 1998
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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