E 
20.90
-1.04%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€14.07bn
FY2016FY2025
Net income
€265.0m
FY2016FY2025
Free cash flow
€695.0m
FY2016FY2025
Shareholders' equity
€8.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €14.07bn | €15.16bn | €15.27bn | €18.49bn | €14.96bn | €12.20bn | €13.11bn | €15.02bn | €14.42bn | €12.73bn |
| Gross profit | €3.24bn | €3.74bn | €3.39bn | €4.23bn | €4.03bn | €3.37bn | €3.69bn | €4.63bn | €4.48bn | €4.20bn |
| Research and development | €418.0m | €447.0m | €443.0m | €460.0m | €464.0m | €433.0m | €428.0m | €459.0m | €458.0m | €438.0m |
| Operating income | €641.0m | €561.0m | €630.0m | €1.43bn | €1.24bn | €886.0m | €1.07bn | €1.57bn | €1.34bn | €1.31bn |
| Net income | €265.0m | €222.0m | −€465.0m | €540.0m | €746.0m | €465.0m | €774.0m | €932.0m | €717.0m | €844.0m |
| Diluted earnings per share | 0.57 | 0.48 | -1.00 | 1.16 | 1.59 | 1.00 | 1.66 | 2.01 | 1.53 | 1.82 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €19.21bn | €19.75bn | €21.26bn | €21.81bn | €22.28bn | €20.90bn | €22.02bn | €20.28bn | €19.94bn | €19.64bn |
| Cash and short-term investments | €619.0m | €618.0m | €1.03bn | €1.12bn | €919.0m | €1.06bn | €2.38bn | €1.13bn | €1.05bn | €4.67bn |
| Total liabilities | €11.04bn | €10.65bn | €12.28bn | €10.75bn | €12.91bn | €12.80bn | €12.96bn | €12.46bn | €12.41bn | €11.89bn |
| Debt | €3.87bn | €3.78bn | €4.25bn | €4.23bn | €3.64bn | €3.84bn | €4.46bn | €3.86bn | €3.99bn | €3.52bn |
| Shareholders' equity | €8.11bn | €9.02bn | €8.91bn | €10.97bn | €9.29bn | €8.01bn | €8.97bn | €7.73bn | €7.44bn | €7.66bn |
| Shares outstanding | 466m | 466m | 466m | 466m | 470m | 466m | 467m | 463m | 468m | 465m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.44bn | €1.71bn | €1.59bn | €1.65bn | €1.81bn | €1.73bn | €1.32bn | €1.70bn | €1.55bn | €1.76bn |
| Capital spending | −€748.0m | −€840.0m | −€793.0m | −€865.0m | −€886.0m | −€956.0m | −€880.0m | −€1.03bn | −€1.04bn | −€948.0m |
| Free cash flow | €695.0m | €873.0m | €801.0m | €785.0m | €929.0m | €771.0m | €441.0m | €672.0m | €511.0m | €810.0m |
| Dividends paid | −€545.0m | −€545.0m | −€545.0m | −€545.0m | −€536.0m | −€536.0m | −€536.0m | −€536.0m | −€536.0m | −€536.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €3.89bn | €3.43bn | €3.40bn | €3.39bn | €3.50bn | €3.78bn | €3.60bn | €3.83bn |
| Gross profit | €962.0m | €864.0m | €689.0m | €616.0m | €931.0m | €1.01bn | €664.0m | €1.03bn |
| Operating income | €483.0m | €243.0m | €92.0m | −€18.8m | €234.0m | €297.0m | −€17.0m | €326.0m |
| Net income | €84.0m | €125.0m | €18.0m | −€106.0m | €120.0m | €233.0m | −€152.0m | €223.0m |
| Diluted earnings per share | 0.18 | 0.27 | 0.04 | -0.23 | 0.26 | 0.50 | -0.33 | 0.48 |
| Cash from operations | €204.0m | €382.0m | €612.0m | €434.0m | −€35.0m | €385.0m | €438.0m | €537.0m |
| Capital spending | −€180.0m | −€224.0m | −€201.0m | −€181.0m | −€176.0m | −€190.0m | −€266.0m | −€180.0m |
| Free cash flow | €24.0m | €158.0m | €411.0m | €253.0m | −€211.0m | €195.0m | €172.0m | €357.0m |
| Total assets | €18.61bn | €18.46bn | €19.21bn | €18.55bn | €19.05bn | €20.24bn | €19.75bn | €19.56bn |
| Cash and short-term investments | €390.0m | €589.0m | €619.0m | €454.0m | €846.0m | €733.0m | €618.0m | €744.0m |
| Debt | €748.0m | €684.0m | €4.05bn | €4.49bn | €4.80bn | €4.47bn | €4.00bn | €4.22bn |
| Shareholders' equity | €7.87bn | €8.23bn | €8.11bn | €8.35bn | €8.49bn | €9.19bn | €9.02bn | €9.02bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.1% | 24.7% | 22.2% | 22.9% | 26.9% | 27.6% |
| Operating margin | 4.5% | 4.3% | -0.7% | 5.3% | 7.7% | 6.3% |
| Net margin | 1.9% | 1.5% | -3.0% | 2.9% | 5.0% | 3.8% |
| Return on equity | 3.3% | 2.5% | -5.2% | 4.9% | 8.0% | 5.8% |
| Return on assets | 1.4% | 1.1% | -2.2% | 2.5% | 3.3% | 2.2% |
| Free cash flow yield | 22.0% | 25.6% | 24.0% | 25.3% | 26.9% | 27.0% |
| Revenue growth | -7.2% | -0.7% | -17.4% | 23.6% | 22.6% | -6.9% |
| Earnings growth | 19.4% | -147.7% | -186.1% | -27.6% | 60.4% | -39.9% |
| Current ratio | 1.48x | 1.36x | 1.46x | 1.83x | 1.53x | 1.70x |
| Debt to equity | 0.39x | 0.34x | 0.39x | 0.31x | 0.35x | 0.42x |
| Equity ratio | 42.2% | 45.7% | 41.9% | 50.3% | 41.7% | 38.3% |
| Interest coverage | 2.94x | 6.66x | -0.99x | 7.98x | 8.98x | 4.46x |
| R&D as a share of sales | 3.0% | 2.9% | 2.9% | 2.5% | 3.1% | 3.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.9% | -0.9% | 0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.7% | 2.9% | 0.4% |
| Operating income | -23.4% | -6.3% | -9.0% |
| Net income | -21.1% | -10.6% | -12.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 23.9% | 23.2% | 24.4% | 27.3% |
| Operating margin | 4.1% | 5.2% | 6.0% | 7.7% |
| Net margin | 1.7% | 0.9% | 2.0% | 3.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.5 | 35.1 | -18.5 | 15.5 | 17.9 | 26.7 | 16.4 | 10.8 | 20.5 | 15.6 |
| Price to sales | 0.4 | 0.5 | 0.6 | 0.5 | 0.9 | 1.0 | 1.0 | 0.7 | 1.0 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 1.17 | 1.17 | 1.17 | 2.34 | 1.15 | 1.15 | 1.15 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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