B 
3.70
-1.60%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€2.93bn
FY2016FY2025
Net income
€348.0m
FY2016FY2025
Free cash flow
€295.5m
FY2016FY2025
Shareholders' equity
€24.21bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €2.93bn | €3.13bn | €13.68bn | €13.64bn | €16.64bn | €16.69bn | €24.84bn | €23.02bn | €18.34bn | €10.08bn |
| Research and development | — | €35.9m | €155.5m | €153.5m | — | — | €76.8m | €105.7m | €121.0m | €185.4m |
| Operating income | −€211.7m | €10.7m | €768.0m | €816.2m | €281.9m | €570.2m | €1.42bn | €1.51bn | €985.6m | €814.4m |
| Net income | €348.0m | €1.82bn | €268.5m | €3.40bn | €6.06bn | €425.6m | €237.4m | €235.4m | €699.4m | €440.0m |
| Diluted earnings per share | 0.12 | 0.64 | 0.09 | 1.16 | 2.06 | 0.15 | 0.08 | 0.08 | 0.25 | 0.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €25.77bn | €27.67bn | €63.24bn | €57.23bn | €57.63bn | €57.87bn | €58.17bn | €55.43bn | €55.51bn | €22.45bn |
| Cash and short-term investments | €5.81bn | €5.91bn | €5.97bn | €8.04bn | €5.28bn | €2.48bn | €3.18bn | €5.87bn | €3.17bn | €1.36bn |
| Total liabilities | €1.34bn | €1.92bn | €26.84bn | €20.66bn | €23.21bn | €31.88bn | €32.23bn | €27.23bn | €24.42bn | €12.17bn |
| Debt | €185.2m | €421.3m | €10.54bn | €7.79bn | €10.02bn | €13.35bn | €14.00bn | €10.26bn | €8.02bn | €5.62bn |
| Shareholders' equity | €24.21bn | €25.45bn | €23.08bn | €23.27bn | €19.48bn | €9.08bn | €9.09bn | €9.23bn | €10.43bn | €8.92bn |
| Shares outstanding | 2,815m | 2,857m | 2,852m | 2,937m | 2,936m | 2,935m | 2,939m | 2,903m | 2,817m | 2,900m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €330.6m | −€2.05bn | −€269.4m | €1.68bn | €1.93bn | €2.23bn | €2.58bn | €2.00bn | €2.07bn | €1.11bn |
| Capital spending | −€35.1m | −€34.7m | −€442.1m | −€485.6m | −€738.2m | −€689.6m | −€1.33bn | −€561.1m | −€709.9m | −€493.0m |
| Free cash flow | €295.5m | −€2.09bn | −€711.5m | €1.19bn | €1.19bn | €1.54bn | €1.25bn | €1.44bn | €1.36bn | €613.8m |
| Dividends paid | −€223.2m | −€198.4m | −€170.1m | −€176.0m | −€175.9m | −€175.7m | −€135.1m | −€144.4m | −€134.4m | −€135.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.64bn | €1.38bn | €1.55bn | −€7.46bn | €10.59bn | €7.45bn | €6.23bn | €9.16bn |
| Operating income | −€78.0m | −€121.5m | €1.55bn | −€333.5m | €254.1m | €542.2m | €225.8m | €180.8m |
| Net income | €132.0m | €107.8m | €240.0m | −€1.94bn | €3.76bn | €154.4m | €114.1m | −€552.9m |
| Diluted earnings per share | 0.05 | 0.04 | 0.09 | -0.68 | 1.32 | 0.05 | 0.04 | -0.19 |
| Cash from operations | — | −€6.0m | €336.0m | −€2.79bn | €759.0m | €914.0m | €484.0m | €822.0m |
| Capital spending | — | −€12.0m | −€14.0m | −€107.0m | −€107.0m | −€245.0m | −€196.0m | −€169.0m |
| Free cash flow | — | −€18.0m | €322.0m | −€2.90bn | €652.0m | €669.0m | €288.0m | €653.0m |
| Total assets | — | €25.77bn | €26.97bn | €27.67bn | €63.61bn | €63.24bn | €55.87bn | €57.23bn |
| Cash and short-term investments | — | €5.81bn | €5.90bn | €5.91bn | €7.66bn | €5.97bn | €5.66bn | €8.04bn |
| Debt | — | €165.8m | €260.0m | €400.6m | €6.08bn | €7.99bn | €5.72bn | €6.99bn |
| Shareholders' equity | — | €24.21bn | €25.32bn | €25.45bn | €26.11bn | €23.08bn | €23.57bn | €23.27bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -7.2% | 0.3% | 5.6% | 6.0% | 1.7% | 3.0% | — | — | — |
| Net margin | 11.9% | 58.2% | 2.0% | 24.9% | 36.4% | 2.6% | — | — | — |
| Return on equity | 1.4% | 7.2% | 1.2% | 14.6% | 31.1% | 4.7% | — | — | — |
| Return on assets | 1.4% | 6.6% | 0.4% | 5.9% | 10.5% | 0.7% | — | — | — |
| Free cash flow yield | 3.5% | -19.1% | 1.6% | 19.9% | 24.5% | 26.9% | — | — | — |
| Revenue growth | -6.5% | -77.1% | 0.3% | -18.1% | -0.3% | -32.8% | — | — | — |
| Earnings growth | -80.9% | 578.6% | -92.1% | -43.9% | 1324.3% | 79.3% | — | — | — |
| Current ratio | 6.93x | 4.62x | 1.02x | 1.48x | 1.10x | 0.69x | — | — | — |
| Debt to equity | 0.01x | 0.02x | 0.35x | 0.30x | 0.44x | 1.29x | — | — | — |
| Equity ratio | 94.0% | 92.0% | 36.5% | 40.7% | 33.8% | 15.7% | — | — | — |
| Interest coverage | -13.15x | 0.15x | 2.49x | 3.17x | 1.11x | 1.40x | — | — | — |
| R&D as a share of sales | — | 1.1% | 1.1% | 1.1% | — | — | 0.3% | 0.5% | 0.7% |
| Buybacks as a share of market value | 1.5% | -0.2% | 2.9% | -0.0% | -0.0% | 0.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -40.1% | -29.4% | -12.3% |
| Net income | -53.2% | -3.9% | -4.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -3.3% | 4.1% | 3.4% | 5.0% |
| Net margin | 35.8% | 17.5% | 18.5% | 9.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 38.2 | 9.3 | 60.1 | 4.5 | 2.4 | 23.3 | 48.2 | 43.2 | 18.2 | 22.1 |
| Price to sales | 4.5 | 5.4 | 1.2 | 1.1 | 0.9 | 0.6 | 0.5 | 0.4 | 0.7 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 23 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.56 | 0.08 | 0.07 | 0.10 | 0.06 | 0.06 | 0.06 | 0.06 |
- 100-for-1 split · 1 Dec 2014
- 1-to-1 reverse split · 1 Jun 1999
- 20-for-1 split · 7 Aug 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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