B 
53.85
-0.79%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€59.66bn
FY2016FY2025
Net income
€1.62bn
FY2016FY2025
Free cash flow
€1.34bn
FY2016FY2025
Shareholders' equity
€33.19bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €59.66bn | €61.44bn | €68.90bn | €87.33bn | €78.60bn | €59.15bn | €59.32bn | €60.22bn | €61.22bn | €57.55bn |
| Gross profit | €14.24bn | €15.12bn | €16.70bn | €21.01bn | €19.53bn | €15.11bn | €16.25bn | €17.29bn | €19.41bn | €18.17bn |
| Research and development | €2.00bn | €1.97bn | €2.13bn | €2.30bn | €2.22bn | €2.09bn | €2.16bn | €1.99bn | €1.84bn | €1.86bn |
| Operating income | €2.56bn | €3.38bn | €3.81bn | €6.76bn | €7.40bn | €3.31bn | €4.05bn | €5.55bn | €7.59bn | €6.29bn |
| Net income | €1.62bn | €1.30bn | €225.0m | −€627.0m | €5.52bn | −€1.42bn | €8.42bn | €4.71bn | €6.08bn | €4.06bn |
| Diluted earnings per share | 1.80 | 1.45 | 0.25 | -0.69 | 6.01 | -1.54 | 9.17 | 5.14 | 6.60 | 4.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €78.02bn | €80.42bn | €79.93bn | €84.47bn | €87.38bn | €80.29bn | €86.95bn | €85.50bn | €77.85bn | €75.73bn |
| Cash and short-term investments | €2.76bn | €2.98bn | €2.68bn | €2.75bn | €2.83bn | €4.54bn | €2.87bn | €2.64bn | €6.55bn | €1.91bn |
| Total liabilities | €43.68bn | €43.53bn | €43.28bn | €43.55bn | €45.30bn | €45.89bn | €44.60bn | €50.45bn | €44.01bn | €43.93bn |
| Debt | €23.20bn | €23.42bn | €20.92bn | €20.17bn | €18.26bn | €20.24bn | €19.80bn | €20.93bn | €18.13bn | €16.42bn |
| Shareholders' equity | €33.19bn | €35.60bn | €35.28bn | €39.57bn | €40.79bn | €33.73bn | €41.50bn | €37.88bn | €36.00bn | €32.69bn |
| Shares outstanding | 897m | 893m | 893m | 904m | 918m | 918m | 918m | 916m | 921m | 915m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €5.61bn | €6.95bn | €8.11bn | €7.71bn | €7.25bn | €5.41bn | €7.47bn | €7.94bn | €8.79bn | €7.72bn |
| Capital spending | −€4.27bn | −€6.20bn | −€5.39bn | −€4.38bn | −€3.53bn | −€3.13bn | −€3.82bn | −€3.89bn | −€4.00bn | −€4.14bn |
| Free cash flow | €1.34bn | €748.0m | €2.72bn | €3.33bn | €3.71bn | €2.28bn | €3.65bn | €4.04bn | €4.79bn | €3.57bn |
| Dividends paid | −€2.09bn | −€3.04bn | −€3.03bn | −€3.07bn | −€3.03bn | −€3.03bn | −€2.94bn | −€2.85bn | −€2.75bn | −€2.66bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €17.20bn | €16.02bn | €14.03bn | €14.33bn | €15.77bn | €17.40bn | €14.86bn | €14.82bn |
| Gross profit | €4.33bn | €4.15bn | €3.11bn | €3.16bn | €4.18bn | €4.85bn | €3.66bn | €3.37bn |
| Operating income | €955.0m | €1.59bn | €346.0m | €473.0m | €421.0m | €1.84bn | €876.0m | €699.0m |
| Net income | €4.14bn | €927.0m | €560.0m | €172.0m | €79.0m | €808.0m | −€786.0m | €287.0m |
| Diluted earnings per share | 4.64 | 1.04 | 0.62 | 0.19 | 0.09 | 0.90 | -0.88 | 0.32 |
| Cash from operations | €524.0m | −€797.0m | €3.64bn | €1.37bn | €1.58bn | −€982.0m | €3.46bn | €2.05bn |
| Capital spending | −€713.0m | −€578.0m | −€1.43bn | −€973.0m | −€1.05bn | −€816.0m | −€2.29bn | −€1.48bn |
| Free cash flow | −€189.0m | −€1.38bn | €2.21bn | €398.0m | €532.0m | −€1.80bn | €1.17bn | €568.0m |
| Total assets | €83.87bn | €81.77bn | €78.02bn | €76.44bn | €77.67bn | €81.42bn | €80.42bn | €79.36bn |
| Cash and short-term investments | €7.89bn | €3.18bn | €2.76bn | €1.89bn | €2.57bn | €2.37bn | €2.98bn | €2.60bn |
| Debt | €25.00bn | €23.67bn | €21.99bn | €22.78bn | €23.85bn | €22.77bn | €22.66bn | €22.31bn |
| Shareholders' equity | €36.32bn | €34.28bn | €33.19bn | €32.76bn | €32.36bn | €36.09bn | €35.60bn | €34.74bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.9% | 24.6% | 24.2% | 24.1% | 24.8% | 25.5% |
| Operating margin | 4.3% | 5.5% | 5.5% | 7.7% | 9.4% | 5.6% |
| Net margin | 2.7% | 2.1% | 0.3% | -0.7% | 7.0% | -2.4% |
| Return on equity | 4.9% | 3.6% | 0.6% | -1.6% | 13.5% | -4.2% |
| Return on assets | 2.1% | 1.6% | 0.3% | -0.7% | 6.3% | -1.8% |
| Free cash flow yield | 21.3% | 28.5% | 29.3% | 25.9% | 22.7% | 18.0% |
| Revenue growth | -2.9% | -10.8% | -21.1% | 11.1% | 32.9% | -0.3% |
| Earnings growth | 24.7% | 476.9% | -135.9% | -111.4% | -489.5% | -116.8% |
| Current ratio | 1.93x | 1.83x | 1.98x | 1.83x | 1.75x | 1.83x |
| Debt to equity | 0.66x | 0.64x | 0.57x | 0.50x | 0.11x | 0.60x |
| Equity ratio | 42.5% | 44.3% | 44.1% | 46.8% | 46.7% | 42.0% |
| Interest coverage | 3.12x | 3.69x | 3.92x | 10.55x | 13.48x | 5.29x |
| R&D as a share of sales | 3.3% | 3.2% | 3.1% | 2.6% | 2.8% | 3.5% |
| Buybacks as a share of market value | -0.5% | 0.0% | 1.3% | 1.6% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.9% | 0.2% | -1.6% |
| Operating income | -27.7% | -5.0% | -8.4% |
| Net income | — | — | -8.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.2% | 24.2% | 24.5% | 26.4% |
| Operating margin | 4.9% | 6.0% | 6.6% | 7.8% |
| Net margin | 2.4% | 0.9% | 1.6% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.6 | 29.2 | 193.5 | -66.9 | 10.3 | -41.9 | 7.3 | 11.8 | 13.9 | 19.9 |
| Price to sales | 0.7 | 0.6 | 0.6 | 0.5 | 0.7 | 1.0 | 1.0 | 0.9 | 1.4 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 4 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.25 | 2.25 | 3.40 | 3.40 | 3.40 | 3.30 | 3.30 | 3.20 |
- 1-to-1 reverse split · 2 Aug 2010
- 2-for-1 split · 27 Jun 2008
- 1-to-1 reverse split · 6 Jul 1998
- 10-for-1 split · 1 Jul 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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