A 
88.00
-1.01%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€189.3m
FY2016FY2025
Net income
€48.4m
FY2016FY2025
Free cash flow
€46.2m
FY2016FY2025
Shareholders' equity
€97.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €189.3m | €170.6m | €151.2m | €113.9m | €97.1m | €86.1m | €71.4m | €62.6m | €54.6m | €49.5m |
| Gross profit | €145.0m | €131.6m | €116.6m | €82.7m | €70.8m | €62.3m | €50.2m | €44.2m | €38.4m | €34.6m |
| Research and development | €27.4m | €25.6m | €23.6m | €19.1m | €16.9m | €14.4m | €11.9m | €11.2m | €10.3m | €9.5m |
| Operating income | €68.1m | €63.4m | €51.8m | €30.8m | €27.2m | €26.2m | €19.3m | €16.9m | €14.1m | €13.5m |
| Net income | €48.4m | €45.5m | €35.8m | €19.4m | €19.3m | €17.7m | €13.5m | €11.2m | €9.3m | €9.3m |
| Diluted earnings per share | 3.04 | 2.86 | 2.25 | 1.22 | 1.22 | 1.12 | 0.85 | 0.70 | 0.59 | 0.58 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €160.2m | €143.2m | €114.4m | €90.3m | €81.5m | €68.0m | €58.1m | €47.2m | €38.5m | €34.0m |
| Cash and short-term investments | €121.5m | €111.1m | €81.7m | €50.6m | €49.6m | €39.8m | €29.7m | €27.6m | €21.9m | €19.1m |
| Total liabilities | €63.1m | €63.2m | €52.6m | €42.8m | €42.0m | €35.6m | €33.3m | €18.7m | €16.7m | €17.2m |
| Debt | €6.8m | €6.6m | €8.4m | €10.3m | €10.7m | €10.2m | €11.4m | — | — | — |
| Shareholders' equity | €97.2m | €80.1m | €61.9m | €47.4m | €39.6m | €32.4m | €24.8m | €31.0m | €24.3m | €19.6m |
| Shares outstanding | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m | 16m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €47.2m | €59.5m | €52.7m | €26.3m | €26.3m | €23.2m | €15.3m | €12.2m | €8.9m | €12.2m |
| Capital spending | −€989,517 | −€925,008 | −€1.9m | −€1.0m | −€1.1m | −€551,710 | −€678,151 | −€1.5m | −€1.5m | −€910,933 |
| Free cash flow | €46.2m | €58.5m | €50.8m | €25.3m | €25.2m | €22.7m | €14.6m | €10.7m | €7.4m | €11.3m |
| Dividends paid | −€33.9m | −€26.8m | −€22.5m | −€14.5m | −€13.3m | −€10.1m | −€15.9m | −€4.7m | −€4.6m | −€11.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €103.2m | €97.2m | €92.1m | €46.3m | €86.8m | €83.8m | €77.9m | €73.2m |
| Gross profit | — | €73.7m | €71.3m | — | €67.5m | €83.8m | €60.9m | €55.7m |
| Operating income | €36.2m | €37.1m | €31.0m | €15.6m | €33.8m | €29.7m | €27.6m | €24.2m |
| Net income | €24.6m | €26.6m | €21.7m | €11.3m | €24.2m | €21.3m | €19.6m | €16.2m |
| Diluted earnings per share | 1.54 | 1.68 | 1.37 | 0.71 | 1.52 | 1.34 | 1.23 | 1.02 |
| Cash from operations | — | €32.0m | €14.0m | — | €30.0m | €29.0m | €27.0m | €25.0m |
| Capital spending | — | — | — | — | — | — | — | −€1.0m |
| Free cash flow | — | — | — | — | — | — | — | €24.0m |
| Total assets | — | €160.2m | €126.6m | — | €143.2m | €115.8m | €114.4m | €90.5m |
| Cash and short-term investments | — | €121.5m | €90.0m | — | €111.1m | €82.3m | €81.7m | €56.1m |
| Debt | — | €6.8m | €7.4m | — | €6.6m | €7.4m | €327,035 | €8.7m |
| Shareholders' equity | — | €97.2m | €67.9m | — | €80.1m | €55.7m | €61.9m | €41.6m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 76.6% | 77.1% | 77.1% | 72.6% | 73.0% | 72.4% |
| Operating margin | 36.0% | 37.3% | 34.2% | 27.0% | 28.1% | 30.4% |
| Net margin | 25.6% | 26.6% | 23.7% | 17.0% | 19.9% | 20.6% |
| Return on equity | 49.8% | 56.8% | 57.8% | 40.9% | 48.9% | 54.7% |
| Return on assets | 30.2% | 31.7% | 31.3% | 21.4% | 23.7% | 26.1% |
| Free cash flow yield | 3.3% | 4.2% | 3.8% | 1.9% | 1.9% | 1.7% |
| Revenue growth | 10.9% | 12.8% | 32.7% | 17.4% | 12.8% | 20.5% |
| Earnings growth | 6.4% | 27.1% | 84.6% | 0.2% | 9.2% | 30.8% |
| Current ratio | 2.75x | 2.37x | 2.49x | 2.48x | 2.56x | 2.73x |
| Debt to equity | 0.03x | 0.04x | 0.01x | 0.01x | 0.01x | 0.01x |
| Equity ratio | 60.7% | 55.9% | 54.1% | 52.5% | 48.6% | 47.7% |
| Interest coverage | 151.30x | 523.43x | 325.52x | 185.94x | 247.13x | 80.46x |
| R&D as a share of sales | 14.5% | 15.0% | 15.6% | 16.7% | 17.4% | 16.8% |
| Buybacks as a share of market value | -0.0% | 0.0% | 0.0% | 0.0% | -0.2% | 0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.4% | 17.1% | 15.5% |
| Operating income | 30.3% | 21.1% | 19.6% |
| Net income | 35.6% | 22.2% | 20.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 76.9% | 76.2% | 75.4% | 74.0% |
| Operating margin | 36.6% | 34.3% | 33.1% | 31.4% |
| Net margin | 26.1% | 23.8% | 23.0% | 21.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 38.0 | 40.0 | 46.5 | 57.1 | 89.2 | 70.8 | 42.2 | 28.1 | 31.5 | 22.7 |
| Price to sales | 9.7 | 10.7 | 11.0 | 9.7 | 17.8 | 14.6 | 8.0 | 5.0 | 5.4 | 4.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 24 years. Last went ex-dividend on 4 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.28 | 2.13 | 1.685 | 1.415 | 0.91 | 0.835 | 0.638 | 1.00 |
- 2-for-1 split · 24 Jun 2024
- 2-for-1 split · 18 Jun 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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