H 
26.50
-0.67%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.96bn
FY2016FY2025
Net income
€191.8m
FY2016FY2025
Free cash flow
€305.1m
FY2016FY2025
Shareholders' equity
€1.85bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.96bn | €4.13bn | €4.17bn | €4.48bn | €3.57bn | €3.30bn | €3.40bn | €3.10bn | €2.99bn | €2.87bn |
| Gross profit | €651.8m | €781.6m | €753.9m | €732.4m | €594.5m | €553.2m | €582.8m | €470.5m | €506.3m | €509.2m |
| Research and development | €22.6m | €34.7m | €36.0m | €30.6m | €25.7m | €20.7m | €22.0m | €20.2m | €19.2m | €17.2m |
| Operating income | €307.0m | €351.5m | €336.7m | €358.5m | €285.4m | €259.2m | €290.8m | €204.6m | €252.8m | €255.2m |
| Net income | €191.8m | €224.1m | €206.3m | €276.2m | €198.8m | €176.8m | €190.1m | €156.5m | €193.1m | €187.8m |
| Diluted earnings per share | 1.83 | 2.15 | 1.97 | 2.65 | 1.90 | 1.69 | 1.82 | 1.50 | 1.86 | 1.81 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €4.57bn | €4.89bn | €4.66bn | €4.82bn | €4.54bn | €3.60bn | €3.61bn | €3.13bn | €2.93bn | €2.87bn |
| Cash and short-term investments | €378.6m | €317.1m | €348.2m | €309.4m | €178.6m | €315.5m | €199.4m | €95.0m | €116.0m | €105.9m |
| Total liabilities | €2.64bn | €2.77bn | €2.74bn | €2.90bn | €2.94bn | €2.23bn | €2.17bn | €1.85bn | €1.72bn | €1.69bn |
| Debt | €1.58bn | €1.56bn | €1.65bn | €1.80bn | €1.70bn | €1.19bn | €1.12bn | €1.04bn | €822.6m | €787.7m |
| Shareholders' equity | €1.85bn | €2.04bn | €1.84bn | €1.84bn | €1.52bn | €1.28bn | €1.35bn | €1.22bn | €1.16bn | €1.13bn |
| Shares outstanding | 105m | 104m | 105m | 104m | 104m | 104m | 104m | 104m | 104m | 104m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €477.0m | €432.7m | €578.2m | €321.4m | €222.7m | €428.6m | €426.4m | €253.0m | €256.7m | €297.5m |
| Capital spending | −€171.9m | −€247.9m | −€318.7m | −€318.5m | −€259.4m | −€223.5m | −€203.9m | −€196.9m | −€214.8m | −€199.1m |
| Free cash flow | €305.1m | €184.8m | €259.5m | €2.9m | −€36.7m | €205.1m | €222.5m | €56.1m | €41.9m | €98.4m |
| Dividends paid | −€115.5m | −€110.0m | −€104.5m | −€98.1m | −€96.0m | −€92.9m | −€87.6m | −€83.5m | −€76.0m | −€68.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.01bn | €946.8m | €980.5m | €970.6m | €1.01bn | €1.00bn | €1.06bn | €1.03bn |
| Gross profit | €183.8m | €181.8m | €190.6m | €185.4m | €120.0m | €198.0m | €211.7m | €192.2m |
| Operating income | €99.3m | €83.3m | €80.3m | €89.3m | €46.2m | €93.8m | €95.0m | €95.2m |
| Net income | €44.8m | €49.0m | €55.4m | €58.4m | €21.1m | €56.9m | €63.7m | €59.2m |
| Diluted earnings per share | 0.43 | 0.47 | 0.53 | 0.56 | 0.20 | 0.54 | 0.61 | 0.57 |
| Cash from operations | €49.0m | €36.0m | €234.0m | €109.0m | €126.0m | €7.0m | €167.0m | €117.0m |
| Capital spending | −€26.0m | −€27.0m | −€62.0m | −€36.0m | −€43.0m | −€30.0m | −€113.0m | −€49.0m |
| Free cash flow | €23.0m | €9.0m | €172.0m | €73.0m | €83.0m | −€23.0m | €54.0m | €68.0m |
| Total assets | €4.81bn | €4.58bn | €4.57bn | €4.63bn | €4.79bn | €4.84bn | €4.89bn | €4.82bn |
| Cash and short-term investments | €381.3m | €283.2m | €378.6m | €327.7m | €444.0m | €277.4m | €317.1m | €408.1m |
| Debt | €366.5m | €153.5m | €1.58bn | €1.57bn | €1.53bn | €1.45bn | €1.56bn | €1.44bn |
| Shareholders' equity | €1.88bn | €1.93bn | €1.85bn | €1.80bn | €1.76bn | €2.02bn | €2.04bn | €1.87bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.5% | 18.9% | 18.1% | 16.4% | 16.6% | 16.8% |
| Operating margin | 7.8% | 9.2% | 9.4% | 9.0% | 8.2% | 8.2% |
| Net margin | 4.8% | 5.4% | 4.9% | 6.2% | 5.6% | 5.4% |
| Return on equity | 10.4% | 11.0% | 11.2% | 15.0% | 13.1% | 13.8% |
| Return on assets | 4.2% | 4.6% | 4.4% | 5.7% | 4.4% | 4.9% |
| Free cash flow yield | 22.9% | 24.1% | 31.7% | 22.7% | 17.1% | 23.1% |
| Revenue growth | -4.0% | -1.0% | -6.9% | 25.3% | 8.3% | -2.9% |
| Earnings growth | -14.4% | 8.6% | -25.3% | 38.9% | 12.4% | -7.0% |
| Current ratio | 1.59x | 1.52x | 1.60x | 1.50x | 1.22x | 1.42x |
| Debt to equity | 0.76x | 0.70x | 0.83x | 0.90x | 1.02x | 0.83x |
| Equity ratio | 40.5% | 41.6% | 39.4% | 38.2% | 33.5% | 35.7% |
| Interest coverage | 3.98x | 4.94x | 4.86x | 7.78x | 9.40x | 7.33x |
| R&D as a share of sales | 0.6% | 0.8% | 0.9% | 0.7% | 0.7% | 0.6% |
| Buybacks as a share of market value | -0.5% | 0.1% | -0.2% | -0.0% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.0% | 3.7% | 3.8% |
| Operating income | -5.0% | 3.4% | 3.8% |
| Net income | -11.4% | 1.6% | 2.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.7% | 17.4% | 17.2% | 17.1% |
| Operating margin | 8.1% | 8.1% | 8.0% | 8.0% |
| Net margin | 5.1% | 5.4% | 5.4% | 5.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.3 | 15.9 | 18.6 | 12.1 | 20.4 | 24.9 | 22.7 | 18.0 | 18.9 | 19.5 |
| Price to sales | 0.8 | 0.9 | 0.9 | 0.8 | 1.1 | 1.3 | 1.3 | 0.9 | 1.2 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 30 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.57 | 1.10 | 1.05 | 1.00 | 0.94 | 0.92 | 0.89 | 0.84 |
- 4-for-1 split · 27 Aug 2002
- 1-to-1 reverse split · 8 Apr 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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