D 
107.10
-2.46%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€9.03bn
FY2016FY2025
Net income
−€1.08bn
FY2016FY2025
Free cash flow
€624.0m
FY2016FY2025
Shareholders' equity
€18.24bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €9.03bn | €9.05bn | €10.63bn | €8.39bn | €11.44bn | €8.11bn | €8.00bn | €9.27bn | €8.63bn | €7.92bn |
| Research and development | €713.0m | €814.0m | €652.0m | €295.0m | €718.0m | €472.0m | €342.0m | €373.0m | €352.0m | €320.0m |
| Operating income | €711.0m | €667.0m | €7.0m | €725.0m | €816.0m | €662.0m | €807.0m | €1.21bn | €797.0m | €625.0m |
| Net income | −€1.08bn | €250.0m | €2.14bn | €460.0m | €872.0m | €448.0m | €675.0m | €1.07bn | €1.76bn | €645.0m |
| Diluted earnings per share | -4.15 | 0.95 | 8.04 | 2.65 | 5.05 | 2.61 | 3.83 | 6.09 | 10.09 | 3.67 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €29.34bn | €33.75bn | €34.27bn | €17.40bn | €16.02bn | €14.35bn | €13.44bn | €13.64bn | €12.80bn | €12.96bn |
| Cash and short-term investments | €1.90bn | €2.72bn | €2.56bn | €2.88bn | €2.05bn | €914.0m | €1.49bn | €2.56bn | €1.85bn | €1.55bn |
| Total liabilities | €10.92bn | €11.05bn | €11.20bn | €6.56bn | €6.62bn | €6.86bn | €5.61bn | €5.83bn | €5.74bn | €6.78bn |
| Debt | €4.89bn | €5.28bn | €4.83bn | €3.06bn | €104.0m | €104.0m | €194.0m | €385.0m | €96.0m | €915.0m |
| Shareholders' equity | €18.24bn | €22.51bn | €22.91bn | €10.74bn | €9.32bn | €7.40bn | €7.73bn | €7.78bn | €6.96bn | €6.07bn |
| Shares outstanding | 261m | 264m | 266m | 173m | 173m | 172m | 176m | 176m | 175m | 176m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.39bn | €1.78bn | €1.26bn | €923.0m | €1.43bn | €1.49bn | €1.39bn | €1.39bn | €996.0m | €1.02bn |
| Capital spending | −€764.0m | −€764.0m | −€555.0m | −€644.0m | −€433.0m | −€458.0m | −€520.0m | −€565.0m | −€449.0m | −€413.0m |
| Free cash flow | €624.0m | €1.01bn | €710.0m | €279.0m | €994.0m | €1.04bn | €865.0m | €826.0m | €547.0m | €605.0m |
| Dividends paid | −€718.0m | −€667.0m | −€582.0m | −€345.0m | −€266.0m | −€289.0m | −€291.0m | −€225.0m | −€200.0m | −€190.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.66bn | €2.52bn | €3.25bn | €3.25bn | €3.25bn | €3.25bn | €3.15bn | €3.15bn |
| Operating income | €414.0m | €152.0m | €393.0m | €393.0m | €202.0m | €202.0m | €78.5m | €78.5m |
| Net income | €212.0m | −€1.59bn | €255.0m | €255.0m | €104.0m | €104.0m | €21.0m | €21.0m |
| Diluted earnings per share | 0.85 | -6.10 | 0.98 | 0.98 | 0.39 | 0.39 | 0.08 | 0.08 |
| Cash from operations | €461.0m | €1.11bn | €277.0m | €146.0m | €1.29bn | €649.0m | €240.0m | €240.0m |
| Capital spending | −€462.0m | −€363.0m | −€200.0m | −€200.0m | −€154.0m | −€154.0m | −€168.0m | −€168.0m |
| Free cash flow | −€1.0m | €748.0m | €77.0m | −€54.0m | €1.14bn | €495.0m | €72.0m | €72.0m |
| Total assets | €30.45bn | €29.34bn | €32.32bn | €32.32bn | €33.75bn | €33.75bn | €32.81bn | €32.81bn |
| Cash and short-term investments | €2.31bn | €1.90bn | €2.86bn | €2.86bn | €2.72bn | €2.72bn | €1.09bn | €1.09bn |
| Debt | €6.76bn | €4.89bn | €5.43bn | €250.0m | €4.85bn | €836.0m | €4.58bn | €972.0m |
| Shareholders' equity | €17.83bn | €18.24bn | €21.35bn | €21.35bn | €22.51bn | €22.51bn | €22.12bn | €22.12bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 7.9% | 7.4% | 0.1% | 8.6% | 7.5% | 8.3% |
| Net margin | -12.0% | 2.8% | 20.1% | 5.5% | 7.6% | 5.5% |
| Return on equity | -5.9% | 1.1% | 9.3% | 4.3% | 9.4% | 6.1% |
| Return on assets | -3.7% | 0.7% | 6.2% | 2.6% | 5.4% | 3.1% |
| Free cash flow yield | 8.4% | 9.8% | 7.0% | 9.2% | 11.0% | 11.6% |
| Revenue growth | -0.2% | -14.8% | 26.7% | -26.7% | 41.2% | 1.4% |
| Earnings growth | -532.4% | -88.3% | 364.6% | -47.2% | 94.6% | -33.6% |
| Current ratio | 1.59x | 2.02x | 1.96x | 3.18x | 2.52x | 2.42x |
| Debt to equity | 0.27x | 0.22x | 0.20x | 0.27x | 0.01x | 0.01x |
| Equity ratio | 62.2% | 66.7% | 66.8% | 61.7% | 58.2% | 51.6% |
| Interest coverage | 4.23x | 3.59x | 0.04x | 10.82x | 4.01x | — |
| R&D as a share of sales | 7.9% | 9.0% | 6.1% | 3.5% | 6.3% | 5.8% |
| Buybacks as a share of market value | 1.4% | 0.6% | -53.3% | -0.4% | -0.5% | 2.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.5% | 2.2% | 1.6% |
| Operating income | -0.6% | 1.4% | 7.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.6% | 5.7% | 6.3% | 7.5% |
| Net margin | -4.6% | 4.8% | 5.4% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -16.6 | 103.3 | 11.4 |
| Price to sales | 2.0 | 2.9 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 11 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 2.50 | 1.063 | 0.933 | 1.60 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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