F 
23.44
+0.43%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€2.44bn
FY2016FY2025
Net income
€271.2m
FY2016FY2025
Free cash flow
€363.9m
FY2016FY2025
Shareholders' equity
€1.53bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €2.44bn | €2.48bn | €2.63bn | €2.56bn | €2.56bn | €2.58bn | €2.93bn | €2.90bn | €3.51bn | €3.36bn |
| Research and development | — | €23.3m | €15.1m | €14.5m | €14.2m | €14.4m | €11.7m | €11.1m | — | — |
| Operating income | €352.7m | €391.3m | €246.2m | €159.9m | €305.7m | €298.3m | €332.9m | €312.0m | €245.9m | €277.8m |
| Net income | €271.2m | €246.8m | €154.6m | €79.3m | €198.2m | €190.5m | €190.9m | €223.1m | €286.7m | €228.4m |
| Diluted earnings per share | 2.31 | 2.08 | 1.30 | 0.67 | 1.63 | 1.49 | 1.49 | 1.74 | 2.24 | 1.79 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €3.68bn | €3.34bn | €3.41bn | €3.63bn | €3.95bn | €4.51bn | €4.84bn | €4.63bn | €4.31bn | €4.28bn |
| Cash and short-term investments | €168.2m | €181.6m | €159.8m | €193.2m | €299.2m | €680.2m | €148.4m | €140.1m | €337.1m | €334.6m |
| Total liabilities | €2.14bn | €1.86bn | €1.98bn | €2.16bn | €2.31bn | €2.68bn | €3.52bn | €3.35bn | €2.85bn | €2.88bn |
| Debt | €829.2m | €697.1m | €778.1m | €928.1m | €1.13bn | €1.48bn | €2.25bn | €1.72bn | €1.67bn | €1.73bn |
| Shareholders' equity | €1.53bn | €1.49bn | €1.44bn | €1.47bn | €1.64bn | €1.82bn | €1.31bn | €1.26bn | €1.43bn | €1.36bn |
| Shares outstanding | 118m | 119m | 119m | 119m | 121m | 128m | 128m | 128m | 128m | 128m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €405.8m | €370.7m | €398.0m | €395.7m | €367.2m | €357.1m | €364.2m | €369.5m | €385.4m | €389.6m |
| Capital spending | −€41.9m | −€43.7m | −€55.6m | −€62.9m | −€48.2m | −€49.9m | −€45.2m | −€57.2m | −€61.1m | −€62.8m |
| Free cash flow | €363.9m | €327.0m | €342.4m | €332.7m | €319.0m | €307.2m | €319.1m | €312.3m | €324.2m | €326.9m |
| Dividends paid | −€234.1m | −€210.4m | −€199.7m | −€186.6m | −€203.7m | −€5.1m | −€211.2m | −€211.2m | −€204.8m | −€198.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €751.0m | €761.9m | €611.8m | €615.0m | €608.7m | €604.4m | €661.3m | €618.5m |
| Operating income | €84.8m | €88.5m | €90.7m | €118.1m | €106.7m | €97.0m | €114.6m | €97.2m |
| Net income | €46.3m | €47.6m | €67.0m | €79.5m | €67.4m | €57.4m | €64.8m | €71.2m |
| Diluted earnings per share | 0.40 | 0.41 | 0.57 | 0.68 | 0.57 | 0.49 | 0.54 | 0.60 |
| Cash from operations | €97.0m | €85.0m | €98.0m | €95.0m | €110.0m | €101.0m | €93.0m | €88.0m |
| Capital spending | −€16.0m | −€13.0m | −€13.0m | −€10.0m | −€8.0m | −€9.0m | −€12.0m | −€9.0m |
| Free cash flow | €81.0m | €72.0m | €85.0m | €85.0m | €102.0m | €92.0m | €81.0m | €79.0m |
| Total assets | €3.43bn | €3.52bn | €3.68bn | €3.19bn | €3.15bn | €3.36bn | €3.34bn | €3.28bn |
| Cash and short-term investments | €81.6m | €98.1m | €168.2m | €205.2m | €136.4m | €254.7m | €181.6m | €131.1m |
| Debt | €136.1m | €527.6m | €904.7m | €744.5m | €646.6m | €685.6m | €697.1m | €730.7m |
| Shareholders' equity | €1.37bn | €1.58bn | €1.53bn | €1.47bn | €1.39bn | €1.57bn | €1.49bn | €1.44bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 14.5% | 15.2% | 9.5% | 5.5% | 9.8% | 10.3% | — |
| Net margin | 11.1% | 10.0% | 5.9% | 3.1% | 7.8% | 7.4% | — |
| Return on equity | 17.7% | 16.6% | 10.7% | 5.4% | 12.1% | 10.5% | — |
| Return on assets | 7.4% | 7.4% | 4.5% | 2.2% | 5.0% | 4.2% | — |
| Free cash flow yield | 16.5% | 15.1% | 16.5% | 16.7% | 14.8% | 13.8% | — |
| Revenue growth | -1.5% | -5.7% | 2.8% | 0.0% | -0.8% | -12.2% | — |
| Earnings growth | 9.9% | 59.6% | 95.0% | -60.0% | 4.0% | -0.2% | — |
| Current ratio | 0.64x | 0.71x | 0.66x | 0.70x | 0.75x | 0.98x | — |
| Debt to equity | 0.43x | 0.33x | 0.35x | 0.40x | 0.45x | 0.56x | — |
| Equity ratio | 41.7% | 44.6% | 42.2% | 40.6% | 41.6% | 40.4% | — |
| Interest coverage | 13.03x | 12.29x | 8.59x | 5.90x | 8.41x | 5.71x | — |
| R&D as a share of sales | — | 0.9% | 0.6% | 0.6% | 0.6% | 0.6% | 0.4% |
| Buybacks as a share of market value | 1.1% | -0.0% | 0.0% | 2.0% | 5.2% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | -1.1% | -2.4% |
| Operating income | 30.2% | 3.4% | 1.7% |
| Net income | 50.7% | 7.3% | 2.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 15.1% | 11.4% | 11.5% | 10.4% |
| Net margin | 10.5% | 7.4% | 7.5% | 7.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.7 | 13.3 | 19.5 | 30.6 | 14.3 | 11.6 | 13.7 | 9.7 | 13.8 | 15.0 |
| Price to sales | 1.4 | 1.3 | 1.1 | 0.9 | 1.1 | 0.8 | 0.9 | 0.8 | 1.1 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 14 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.07 | 0.88 | 1.77 | 1.68 | 1.57 | 0.15 | 0.04 | 1.65 |
- 1-to-1 reverse split · 28 Sept 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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