E 
44.20
0.00%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€21.02bn
FY2016FY2025
Net income
€2.20bn
FY2016FY2025
Free cash flow
€2.21bn
FY2016FY2025
Shareholders' equity
€8.52bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €21.02bn | €20.93bn | €25.06bn | €32.54bn | €20.52bn | €16.71bn | €19.26bn | €19.55bn | €19.56bn | €18.31bn |
| Gross profit | €7.01bn | €7.49bn | €8.42bn | €8.84bn | €4.88bn | €5.36bn | €4.74bn | €4.68bn | €4.64bn | €4.63bn |
| Research and development | — | — | €114.0m | — | — | — | — | — | €24.0m | €16.0m |
| Operating income | €3.53bn | €4.18bn | €5.09bn | €5.84bn | €1.96bn | €1.91bn | €388.0m | €1.92bn | €2.03bn | €1.97bn |
| Net income | €2.20bn | €1.89bn | €742.0m | €2.54bn | €1.44bn | €1.39bn | €171.0m | €1.42bn | €1.46bn | €1.41bn |
| Diluted earnings per share | 2.08 | 1.78 | 0.70 | 2.40 | 1.36 | 1.32 | 0.16 | 1.34 | 1.38 | 1.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €37.48bn | €37.34bn | €41.28bn | €50.07bn | €39.97bn | €32.06bn | €31.98bn | €31.66bn | €31.04bn | €30.96bn |
| Cash and short-term investments | €263.0m | €1.34bn | €3.32bn | €7.14bn | €1.58bn | €1.58bn | €1.44bn | €1.23bn | €1.16bn | €781.0m |
| Total liabilities | €27.87bn | €28.29bn | €34.08bn | €44.31bn | €34.42bn | €24.60bn | €24.14bn | €22.48bn | €21.80bn | €21.87bn |
| Debt | €10.43bn | €10.49bn | €13.73bn | €18.49bn | €10.38bn | €7.27bn | €6.59bn | €6.01bn | €5.38bn | €5.35bn |
| Shareholders' equity | €8.52bn | €8.11bn | €7.02bn | €5.56bn | €5.38bn | €7.32bn | €7.69bn | €9.04bn | €9.10bn | €8.95bn |
| Shares outstanding | 1,059m | 1,061m | 1,059m | 1,059m | 1,059m | 1,059m | 1,059m | 1,058m | 1,059m | 1,059m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €4.05bn | €3.57bn | €4.70bn | €1.67bn | €2.62bn | €2.95bn | €3.18bn | €2.42bn | €2.44bn | €3.00bn |
| Capital spending | −€1.84bn | −€1.85bn | −€2.28bn | −€2.13bn | −€2.08bn | −€1.70bn | −€1.82bn | −€1.43bn | −€1.08bn | −€1.26bn |
| Free cash flow | €2.21bn | €1.72bn | €2.41bn | −€460.0m | €539.0m | €1.25bn | €1.36bn | €995.0m | €1.36bn | €1.74bn |
| Dividends paid | −€1.39bn | −€1.07bn | −€1.68bn | −€1.52bn | −€2.13bn | −€1.56bn | −€1.51bn | −€1.46bn | −€1.41bn | −€1.09bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €5.08bn | €5.73bn | €5.33bn | €4.98bn | €4.90bn | €5.80bn | €5.43bn | €5.26bn |
| Gross profit | €2.03bn | €2.11bn | €1.44bn | €2.11bn | €1.56bn | €1.90bn | €2.41bn | €1.31bn |
| Operating income | €1.20bn | €1.15bn | €810.0m | €1.04bn | €744.0m | €934.0m | €2.46bn | €335.0m |
| Net income | €745.0m | €725.0m | €487.0m | €670.0m | €458.0m | €583.0m | €484.0m | €604.0m |
| Diluted earnings per share | 0.72 | 0.70 | 0.46 | 0.63 | 0.43 | 0.55 | 0.46 | 0.57 |
| Cash from operations | €1.24bn | €1.04bn | €614.0m | €1.23bn | €1.11bn | €1.24bn | €898.0m | €1.48bn |
| Capital spending | −€517.0m | −€493.0m | −€523.0m | −€424.0m | −€432.0m | −€465.0m | −€508.0m | −€424.0m |
| Free cash flow | €718.0m | €544.0m | €91.0m | €809.0m | €681.0m | €778.0m | €390.0m | €1.05bn |
| Total assets | €38.63bn | €39.74bn | €37.48bn | €37.07bn | €37.01bn | €37.28bn | €37.34bn | €38.96bn |
| Cash and short-term investments | €1.13bn | €94.0m | €263.0m | €196.0m | €678.0m | €980.0m | €1.34bn | €3.56bn |
| Debt | €10.71bn | €10.88bn | €10.19bn | €1.01bn | €10.13bn | €6.22bn | €9.80bn | €6.09bn |
| Shareholders' equity | €8.14bn | €8.57bn | €8.52bn | €8.66bn | €8.28bn | €8.88bn | €8.11bn | €8.09bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | FY2015 | FY2011 | FY2004 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 33.4% | 35.8% | 33.6% | 27.2% | 23.8% | 32.1% | — | — | — | — | — |
| Operating margin | 16.8% | 20.0% | 20.3% | 17.9% | 9.5% | 11.4% | — | — | — | — | — |
| Net margin | 10.5% | 9.0% | 3.0% | 7.8% | 7.0% | 8.3% | — | — | — | — | — |
| Return on equity | 25.8% | 23.3% | 10.6% | 45.7% | 26.7% | 19.1% | — | — | — | — | — |
| Return on assets | 5.9% | 5.1% | 1.8% | 5.1% | 3.6% | 4.3% | — | — | — | — | — |
| Free cash flow yield | 13.1% | 12.0% | 15.5% | 8.4% | 10.4% | 10.3% | — | — | — | — | — |
| Revenue growth | 0.4% | -16.5% | -23.0% | 58.6% | 22.8% | -13.2% | — | — | — | — | — |
| Earnings growth | 16.4% | 154.4% | -70.8% | 77.1% | 2.9% | 715.2% | — | — | — | — | — |
| Current ratio | 0.93x | 1.02x | 0.85x | 0.96x | 0.74x | 0.73x | — | — | — | — | — |
| Debt to equity | 1.20x | 1.21x | 1.84x | 3.19x | 1.77x | 0.89x | — | — | — | — | — |
| Equity ratio | 22.7% | 21.7% | 17.0% | 11.1% | 13.5% | 22.8% | — | — | — | — | — |
| Interest coverage | 8.18x | 8.39x | 10.38x | 23.45x | 13.68x | 127.47x | — | — | — | — | — |
| R&D as a share of sales | — | — | 0.5% | — | — | — | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% |
| Buybacks as a share of market value | 0.2% | -0.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.6% | 4.7% | 0.9% |
| Operating income | -15.5% | 13.0% | 8.2% |
| Net income | -4.7% | 9.5% | 7.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.6% | 31.9% | 30.7% | 27.8% |
| Operating margin | 18.4% | 18.7% | 16.5% | 13.1% |
| Net margin | 9.7% | 7.4% | 7.5% | 6.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.8 | 11.7 | 26.3 | 7.3 | 14.9 | 17.0 | 147.3 | 15.0 | 12.9 | 15.1 |
| Price to sales | 1.6 | 1.1 | 0.8 | 0.6 | 1.0 | 1.4 | 1.3 | 1.1 | 1.0 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 8 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.084 | 1.318 | 1.00 | 2.085 | 0.937 | 1.814 | 1.475 | 1.427 |
- 1-to-1 reverse split · 25 Nov 1999
- 4-for-1 split · 24 Jul 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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