N 
40.60
+1.50%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.71bn
FY2016FY2025
Net income
€67.4m
FY2016FY2025
Free cash flow
€344.5m
FY2016FY2025
Shareholders' equity
€2.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.71bn | €3.96bn | €4.33bn | €5.00bn | €4.84bn | €3.77bn | €4.32bn | €4.31bn | €4.10bn | €3.72bn |
| Gross profit | €592.4m | €655.3m | €704.6m | €800.4m | €901.4m | €611.5m | €581.6m | €585.0m | €704.3m | €690.9m |
| Research and development | €59.3m | €56.7m | €56.6m | €62.1m | €59.5m | €52.4m | €62.1m | €65.4m | €62.7m | €63.3m |
| Operating income | €287.4m | €296.2m | €334.4m | €313.4m | €519.2m | €256.5m | €138.1m | €210.3m | €303.7m | €307.4m |
| Net income | €67.4m | €238.9m | €254.6m | €268.9m | €404.1m | €134.7m | €41.3m | €39.8m | €184.7m | €105.2m |
| Diluted earnings per share | 1.23 | 4.56 | 4.80 | 4.82 | 6.98 | 2.23 | 0.73 | 0.62 | 2.56 | 1.84 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €3.80bn | €4.16bn | €4.08bn | €4.85bn | €4.85bn | €4.35bn | €4.36bn | €4.45bn | €4.44bn | €4.30bn |
| Cash and short-term investments | €527.6m | €506.7m | €632.9m | €732.9m | €757.3m | €990.5m | €616.2m | €456.4m | €475.3m | €377.9m |
| Total liabilities | €1.70bn | €1.85bn | €1.92bn | €2.62bn | €2.75bn | €2.81bn | €2.83bn | €2.93bn | €2.86bn | €2.71bn |
| Debt | €716.4m | €805.3m | €898.9m | €1.24bn | €1.19bn | €1.61bn | €1.61bn | €1.63bn | €1.63bn | €1.46bn |
| Shareholders' equity | €2.06bn | €2.26bn | €2.11bn | €2.09bn | €1.97bn | €1.45bn | €1.44bn | €1.40bn | €1.49bn | €1.47bn |
| Shares outstanding | 55m | 52m | 53m | 56m | 58m | 60m | 57m | 64m | 72m | 57m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €483.8m | €374.0m | €439.8m | €340.3m | €384.6m | €504.9m | €524.3m | €243.7m | €244.1m | €399.6m |
| Capital spending | −€139.2m | −€221.8m | −€191.3m | −€185.1m | −€156.6m | −€107.7m | −€112.0m | −€181.3m | −€272.7m | −€158.5m |
| Free cash flow | €344.5m | €152.2m | €248.6m | €155.2m | €228.0m | €397.2m | €412.3m | €62.4m | −€28.5m | €241.0m |
| Dividends paid | −€99.5m | −€94.2m | −€88.6m | −€86.5m | −€56.8m | −€19.8m | −€39.6m | −€62.2m | −€62.4m | −€50.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.86bn | €1.75bn | €1.95bn | €1.90bn | €2.06bn | €2.01bn | €2.32bn | €2.79bn |
| Gross profit | €297.5m | €164.4m | €324.1m | €304.6m | €379.1m | €335.0m | €408.5m | €329.9m |
| Operating income | €148.4m | €3.6m | €115.3m | €133.0m | €204.2m | €158.6m | €219.8m | €113.9m |
| Net income | €94.3m | −€14.4m | €81.7m | €92.2m | €146.7m | €93.2m | €161.4m | €31.4m |
| Diluted earnings per share | 1.92 | -0.26 | 1.49 | 1.76 | 2.80 | 1.76 | 3.04 | 0.56 |
| Cash from operations | €111.0m | €290.0m | €192.0m | €280.0m | €116.0m | €308.0m | €168.0m | €384.0m |
| Capital spending | −€45.0m | −€80.0m | −€58.0m | −€114.0m | −€81.0m | −€122.0m | −€87.0m | −€114.0m |
| Free cash flow | €66.0m | €210.0m | €134.0m | €166.0m | €35.0m | €186.0m | €81.0m | €270.0m |
| Total assets | €3.95bn | €3.80bn | €3.89bn | €4.16bn | €4.19bn | €4.08bn | €4.50bn | €4.85bn |
| Cash and short-term investments | €430.4m | €527.6m | €463.5m | €506.7m | €488.2m | €632.9m | €349.6m | €732.9m |
| Debt | €405.1m | €645.6m | €296.4m | €730.4m | €827.5m | €833.8m | €179.1m | €1.18bn |
| Shareholders' equity | €2.07bn | €2.06bn | €2.10bn | €2.26bn | €2.16bn | €2.11bn | €2.09bn | €2.09bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.0% | 16.6% | 16.3% | 16.0% | 18.6% | 16.2% |
| Operating margin | 3.2% | 7.5% | 7.1% | 6.3% | 10.7% | 6.1% |
| Net margin | 1.8% | 6.0% | 5.9% | 5.4% | 8.3% | 3.6% |
| Return on equity | 3.3% | 10.6% | 12.1% | 12.8% | 20.5% | 9.3% |
| Return on assets | 1.8% | 5.7% | 6.2% | 5.5% | 8.3% | 3.1% |
| Free cash flow yield | 28.3% | 28.3% | 29.6% | 23.4% | 23.2% | 25.2% |
| Revenue growth | -6.4% | -8.6% | -13.5% | 3.4% | 28.3% | -12.7% |
| Earnings growth | -71.8% | -6.2% | -5.3% | -33.5% | 200.0% | 225.9% |
| Current ratio | 1.62x | 1.72x | 1.91x | 1.66x | 1.76x | 1.55x |
| Debt to equity | 0.31x | 0.32x | 0.39x | 0.56x | 0.58x | 1.07x |
| Equity ratio | 54.2% | 54.3% | 51.8% | 43.2% | 40.6% | 33.3% |
| Interest coverage | 3.68x | 8.06x | 7.58x | 8.77x | 11.43x | 3.87x |
| R&D as a share of sales | 1.6% | 1.4% | 1.3% | 1.2% | 1.2% | 1.4% |
| Buybacks as a share of market value | -4.4% | 1.3% | 4.9% | 3.7% | 4.2% | -6.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.5% | -0.4% | 0.1% |
| Operating income | -2.8% | 2.3% | 1.4% |
| Net income | -37.0% | -12.9% | -4.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.3% | 16.2% | 16.7% | 16.2% |
| Operating margin | 7.6% | 7.2% | 7.8% | 7.0% |
| Net margin | 4.0% | 4.9% | 5.3% | 4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 30.9 | 7.3 | 9.7 | 7.5 | 5.6 | 12.2 | 36.3 | 33.9 | 14.2 | 20.9 |
| Price to sales | 0.6 | 0.4 | 0.6 | 0.4 | 0.5 | 0.4 | 0.3 | 0.3 | 0.6 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 35 years. Last went ex-dividend on 15 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.95 | 1.90 | 1.80 | 1.65 | 1.50 | 1.00 | 0.35 | 0.70 |
- 3-for-1 split · 10 Nov 2010
- 10-for-1 split · 26 Nov 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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