T 
228.70
+3.16%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€22.14bn
FY2016FY2025
Net income
€1.67bn
FY2016FY2025
Free cash flow
€2.63bn
FY2016FY2025
Shareholders' equity
€7.97bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €22.14bn | €20.58bn | €18.43bn | €17.57bn | €16.19bn | €16.99bn | €18.40bn | €15.85bn | €15.80bn | €14.88bn |
| Gross profit | €5.85bn | €5.37bn | €4.77bn | €4.46bn | €4.03bn | €3.94bn | €4.52bn | €4.09bn | €3.84bn | €3.61bn |
| Research and development | €1.33bn | €1.27bn | €1.11bn | €1.06bn | €1.03bn | €1.02bn | €1.10bn | €881.4m | €802.2m | €736.1m |
| Operating income | €2.22bn | €1.70bn | €1.58bn | €1.23bn | €1.11bn | €817.6m | €1.36bn | €1.40bn | €1.26bn | €1.19bn |
| Net income | €1.67bn | €1.42bn | €1.02bn | €1.12bn | €1.09bn | €483.4m | €1.12bn | €981.8m | €679.8m | €946.4m |
| Diluted earnings per share | 8.13 | 6.91 | 4.91 | 5.29 | 5.11 | 2.27 | 5.27 | 4.60 | 3.19 | 4.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €39.16bn | €39.99bn | €38.79bn | €34.42bn | €32.84bn | €31.81bn | €31.22bn | €25.51bn | €23.33bn | €22.69bn |
| Cash and short-term investments | €4.49bn | €4.77bn | €4.08bn | €5.30bn | €5.05bn | €5.00bn | €2.93bn | €5.89bn | €4.61bn | €3.87bn |
| Total liabilities | €31.17bn | €32.43bn | €31.82bn | €27.04bn | €26.12bn | €26.50bn | €25.54bn | €19.58bn | €17.78bn | €17.82bn |
| Debt | €2.13bn | €7.69bn | €8.39bn | €5.46bn | €5.91bn | €7.60bn | €6.27bn | €2.73bn | €1.66bn | €1.55bn |
| Shareholders' equity | €7.97bn | €7.52bn | €6.83bn | €7.17bn | €6.48bn | €5.11bn | €5.45bn | €5.70bn | €5.33bn | €4.64bn |
| Shares outstanding | 206m | 205m | 209m | 212m | 213m | 213m | 213m | 213m | 213m | 213m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €3.32bn | €2.64bn | €1.60bn | €3.06bn | €2.71bn | €1.35bn | €1.77bn | €1.25bn | €2.06bn | €1.41bn |
| Capital spending | −€687.1m | −€623.1m | −€625.6m | −€502.7m | −€450.8m | −€395.4m | −€503.3m | −€370.9m | −€447.5m | −€451.1m |
| Free cash flow | €2.63bn | €2.01bn | €970.8m | €2.56bn | €2.26bn | €950.2m | €1.27bn | €880.9m | €1.61bn | €957.1m |
| Dividends paid | −€780.7m | −€708.4m | −€633.7m | −€603.3m | −€417.0m | −€85.1m | −€463.1m | −€382.1m | −€348.9m | −€296.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €10.95bn | €11.87bn | €10.26bn | €11.08bn | €9.49bn | €9.71bn | €8.72bn | €4.05bn |
| Gross profit | €2.99bn | €3.14bn | €2.71bn | €2.87bn | €2.51bn | €2.49bn | €2.28bn | €1.01bn |
| Operating income | €1.15bn | €1.27bn | €968.3m | €1.02bn | €767.8m | €883.7m | €769.3m | €308.8m |
| Net income | €485.0m | €1.01bn | €663.7m | €19.3m | €1.02bn | €375.1m | €648.9m | €272.2m |
| Diluted earnings per share | 2.35 | 4.91 | 3.22 | 0.09 | 4.95 | 1.80 | 3.11 | 1.31 |
| Cash from operations | €2.17bn | €2.51bn | €808.0m | €2.35bn | €181.0m | €1.12bn | €473.0m | €236.0m |
| Capital spending | −€307.0m | −€408.0m | −€311.0m | −€316.0m | −€270.0m | −€353.0m | −€272.0m | −€136.0m |
| Free cash flow | €1.86bn | €2.10bn | €497.0m | €2.04bn | −€89.0m | €770.0m | €201.0m | €100.0m |
| Total assets | €40.01bn | €39.16bn | €38.89bn | €39.99bn | €38.18bn | €38.79bn | €35.19bn | €35.19bn |
| Cash and short-term investments | €5.06bn | €4.49bn | €3.89bn | €4.77bn | €3.82bn | €4.08bn | €4.93bn | €4.93bn |
| Debt | €2.02bn | €2.13bn | €3.28bn | €3.27bn | €3.25bn | €2.71bn | €1.84bn | — |
| Shareholders' equity | €8.01bn | €7.97bn | €7.14bn | €7.52bn | €7.28bn | €6.83bn | €7.11bn | €7.11bn |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.4% | 26.1% | 25.9% | 25.4% | 24.9% | 23.2% |
| Operating margin | 10.0% | 8.3% | 8.6% | 7.0% | 6.8% | 4.8% |
| Net margin | 7.6% | 6.9% | 5.6% | 6.4% | 6.7% | 2.8% |
| Return on equity | 21.0% | 18.9% | 15.0% | 15.6% | 16.8% | 9.5% |
| Return on assets | 4.3% | 3.5% | 2.6% | 3.3% | 3.3% | 1.5% |
| Free cash flow yield | 8.1% | 6.6% | 4.4% | 7.0% | 6.2% | 3.4% |
| Revenue growth | 7.6% | 11.7% | 4.9% | 8.5% | -4.7% | -7.7% |
| Earnings growth | 18.0% | 38.7% | -8.7% | 2.9% | 125.2% | -56.9% |
| Current ratio | 0.84x | 0.81x | 0.87x | 1.01x | 1.06x | 1.01x |
| Debt to equity | 0.27x | 0.44x | 0.40x | 0.21x | 0.20x | 1.21x |
| Equity ratio | 20.4% | 18.8% | 17.6% | 20.8% | 19.7% | 16.1% |
| Interest coverage | 9.53x | 5.87x | 6.84x | 19.26x | 13.67x | 8.00x |
| R&D as a share of sales | 6.0% | 6.2% | 6.0% | 6.1% | 6.3% | 6.0% |
| Buybacks as a share of market value | -0.3% | 1.5% | 1.5% | 0.6% | -0.0% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.0% | 5.4% | 4.6% |
| Operating income | 21.7% | 22.1% | 8.7% |
| Net income | 14.3% | 28.2% | 8.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.3% | 26.0% | 25.4% | 25.1% |
| Operating margin | 9.2% | 8.5% | 7.7% | 7.8% |
| Net margin | 7.2% | 6.7% | 6.1% | 5.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.1 | 20.1 | 27.3 | 22.5 | 14.6 | 33.0 | 17.6 | 22.2 | 28.2 | 20.8 |
| Price to sales | 2.1 | 1.4 | 1.5 | 1.4 | 1.0 | 0.9 | 1.1 | 1.4 | 1.2 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 31 years. Last went ex-dividend on 18 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.95 | 3.80 | 3.45 | 3.04 | 2.66 | 1.96 | 0.40 | 2.18 |
- 1-to-1 reverse split · 4 Jul 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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