166.60
+1.46%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€4.15bn
FY2016FY2025
Net income
€346.3m
FY2016FY2025
Free cash flow
€213.7m
FY2016FY2025
Shareholders' equity
€2.36bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €4.15bn | €4.10bn | €3.29bn | €2.65bn | €2.51bn | €2.20bn | €2.62bn | €2.65bn | €2.37bn | €1.98bn |
| Research and development | — | — | €229,000 | — | €3,000 | €375,000 | €419,000 | €255,000 | — | — |
| Operating income | €391.4m | €353.6m | €241.3m | €155.2m | €144.8m | €64.3m | €126.4m | €184.8m | €224.9m | €203.4m |
| Net income | €346.3m | €288.2m | €162.8m | €112.7m | €114.6m | €50.4m | €125.0m | €155.6m | €155.1m | €155.3m |
| Diluted earnings per share | 13.73 | 11.41 | 6.43 | 4.45 | 25.25 | 1.99 | 4.94 | 34.28 | 34.17 | 34.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €6.20bn | €5.48bn | €4.76bn | €4.53bn | €4.05bn | €3.92bn | €3.94bn | €3.82bn | €3.51bn | €3.24bn |
| Cash and short-term investments | €846.0m | €853.4m | €389.1m | €522.3m | €528.6m | €621.9m | €475.1m | €287.4m | €470.0m | €572.1m |
| Total liabilities | €3.78bn | €3.30bn | €2.80bn | €2.75bn | €2.45bn | €2.43bn | €2.50bn | €2.41bn | €2.25bn | €2.06bn |
| Debt | €1.24bn | €762.3m | €901.3m | €1.04bn | €921.3m | €1.11bn | €1.18bn | €843.2m | €720.4m | €155.8m |
| Shareholders' equity | €2.36bn | €2.12bn | €1.91bn | €1.75bn | €1.58bn | €1.47bn | €1.44bn | €1.40bn | €1.32bn | €1.22bn |
| Shares outstanding | 25m | 25m | 25m | 25m | 5m | 25m | 25m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €658.7m | €1.08bn | €453.7m | €436.4m | €419.6m | €376.4m | €388.8m | €222.4m | €570.2m | €438.0m |
| Capital spending | −€445.0m | −€286.4m | −€398.9m | −€483.9m | −€282.0m | −€198.7m | −€434.7m | −€441.3m | −€441.6m | −€178.5m |
| Free cash flow | €213.7m | €791.0m | €54.7m | −€47.6m | €137.5m | €177.7m | −€45.9m | −€218.9m | €128.6m | €259.5m |
| Dividends paid | −€96.0m | −€53.1m | −€38.0m | −€40.8m | −€20.4m | — | −€55.0m | −€55.0m | −€55.0m | −€60.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.16bn | €2.04bn | €2.12bn | €2.18bn | €1.92bn | €1.81bn | €1.48bn | €1.36bn |
| Operating income | €203.2m | €192.0m | €223.5m | €197.4m | €128.3m | €152.3m | €43.5m | €91.7m |
| Net income | €215.0m | €167.3m | €179.0m | €147.1m | €141.1m | €132.6m | €30.2m | €73.3m |
| Diluted earnings per share | 8.53 | 6.64 | 7.10 | 5.82 | 5.58 | 5.24 | 1.19 | 2.89 |
| Cash from operations | €484.0m | €373.0m | €285.0m | €613.0m | €464.0m | €407.0m | €45.0m | €362.0m |
| Capital spending | −€226.0m | −€304.0m | −€140.0m | −€119.0m | −€165.0m | −€182.0m | −€216.0m | −€257.0m |
| Free cash flow | €258.0m | €69.0m | €145.0m | €494.0m | €299.0m | €225.0m | −€171.0m | €105.0m |
| Total assets | €6.17bn | €6.20bn | €5.82bn | €5.48bn | €5.30bn | €4.76bn | €4.61bn | €4.53bn |
| Cash and short-term investments | €844.9m | €846.0m | €709.1m | €853.4m | €508.7m | €389.1m | €309.4m | €522.3m |
| Debt | €263.1m | €1.12bn | €1.01bn | €644.7m | €739.3m | €815.1m | €936.7m | €966.4m |
| Shareholders' equity | €2.46bn | €2.36bn | €2.17bn | €2.12bn | €2.00bn | €1.91bn | €1.81bn | €1.75bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 9.4% | 8.8% | 7.2% | 5.5% | 5.8% | 2.3% | — | — |
| Net margin | 8.3% | 7.0% | 5.0% | 4.2% | 4.6% | 2.3% | — | — |
| Return on equity | 14.7% | 13.6% | 8.5% | 6.4% | 7.3% | 3.4% | — | — |
| Return on assets | 5.6% | 5.3% | 3.4% | 2.5% | 2.8% | 1.3% | — | — |
| Free cash flow yield | 26.1% | 32.2% | 20.1% | 21.7% | 92.4% | 13.6% | — | — |
| Revenue growth | 1.3% | 24.8% | 23.8% | 5.7% | 14.3% | -16.3% | — | — |
| Earnings growth | 20.2% | 77.1% | 44.4% | -1.6% | 127.3% | -59.7% | — | — |
| Current ratio | 0.93x | 0.92x | 0.84x | 0.90x | 0.81x | 0.80x | — | — |
| Debt to equity | 0.47x | 0.30x | 0.43x | 0.55x | 0.54x | 0.72x | — | — |
| Equity ratio | 38.1% | 38.7% | 40.1% | 38.7% | 39.0% | 37.4% | — | — |
| Interest coverage | 15.56x | 13.97x | 8.85x | 9.78x | 20.92x | 4.13x | — | — |
| R&D as a share of sales | — | — | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.2% | 0.2% | 0.0% | -457.8% | 82.1% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.1% | 13.6% | 5.9% |
| Operating income | 36.1% | 43.5% | 2.3% |
| Net income | 45.4% | 47.0% | 5.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.0% | 8.0% | 7.1% | 7.8% |
| Net margin | 7.7% | 6.4% | 5.7% | 6.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 10.2 | 12.1 | 17.3 | 27.9 |
| Price to sales | 0.8 | 0.8 | 0.9 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 26 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 4.50 | 3.80 | 2.10 | 1.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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