I 
38.72
+1.26%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€2.07bn
FY2016FY2025
Net income
€208.1m
FY2016FY2025
Free cash flow
€232.5m
FY2016FY2025
Shareholders' equity
€2.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €2.07bn | €2.08bn | €2.24bn | €2.08bn | €1.60bn | €1.29bn | €1.37bn | €1.28bn | €1.09bn | €922.8m |
| Gross profit | €730.8m | €713.6m | €780.0m | €724.5m | €574.7m | €463.5m | €501.9m | €473.9m | €414.0m | €338.0m |
| Research and development | — | — | €36.0m | €31.7m | €27.7m | €24.2m | €22.8m | — | — | — |
| Operating income | €334.8m | €333.8m | €395.6m | €384.0m | €295.0m | €207.2m | €247.2m | €227.7m | €198.9m | €153.5m |
| Net income | €208.1m | €227.1m | €274.3m | €266.5m | €195.9m | €171.0m | €179.2m | €172.9m | €134.4m | €93.8m |
| Diluted earnings per share | 1.96 | 2.13 | 2.56 | 2.52 | 1.81 | 1.59 | 1.71 | 1.62 | 1.26 | 0.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €3.40bn | €3.39bn | €3.24bn | €3.13bn | €2.77bn | €2.15bn | €2.03bn | €1.65bn | €1.52bn | €1.42bn |
| Cash and short-term investments | — | — | €334.5m | €358.3m | €349.0m | €343.2m | €233.8m | €118.1m | €144.9m | €197.9m |
| Total liabilities | €1.29bn | €1.37bn | €1.44bn | €1.56bn | €1.43bn | €999.3m | €973.6m | €782.5m | €752.9m | €746.7m |
| Debt | €383.3m | €801.7m | €821.0m | €900.1m | €843.9m | €612.7m | €604.6m | €405.5m | €418.5m | €455.2m |
| Shareholders' equity | €2.10bn | €2.01bn | €1.79bn | €1.55bn | €1.33bn | €1.14bn | €1.05bn | €863.9m | €759.2m | €673.7m |
| Shares outstanding | 106m | 107m | 107m | 106m | 108m | 107m | 105m | 107m | 107m | 106m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €334.0m | €357.1m | €334.6m | €203.9m | €257.2m | €280.9m | €212.5m | €148.8m | €141.6m | €125.8m |
| Capital spending | −€101.4m | −€138.2m | −€168.3m | −€132.6m | −€7.1m | −€62.9m | −€75.6m | −€67.8m | −€48.1m | −€35.0m |
| Free cash flow | €232.5m | €218.8m | €166.3m | €71.3m | €250.1m | €217.9m | €136.9m | €81.0m | €93.5m | €90.8m |
| Dividends paid | −€36.2m | −€35.0m | −€34.8m | −€31.2m | −€29.5m | −€28.3m | −€23.9m | −€22.5m | −€22.3m | −€21.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €561.4m | €524.8m | €494.6m | €499.2m | €555.3m | €521.6m | €489.9m | €492.8m |
| Gross profit | €198.8m | €181.9m | €163.7m | €173.8m | €235.7m | €187.1m | €158.5m | €199.8m |
| Operating income | €96.5m | €85.8m | — | €82.4m | €92.0m | €85.2m | — | €73.6m |
| Net income | €63.9m | €57.1m | €36.8m | €54.7m | €59.9m | €56.7m | €47.7m | €50.0m |
| Diluted earnings per share | 0.61 | 0.54 | 0.35 | 0.51 | 0.56 | 0.53 | 0.45 | 0.47 |
| Cash from operations | €89.0m | €56.0m | €87.0m | €108.0m | €69.0m | €68.0m | €87.0m | €99.0m |
| Capital spending | −€22.0m | −€19.0m | −€26.0m | −€20.0m | −€19.0m | −€35.0m | −€34.0m | −€25.0m |
| Free cash flow | €67.0m | €37.0m | €61.0m | €88.0m | €50.0m | €33.0m | €53.0m | €74.0m |
| Total assets | €3.46bn | €3.44bn | €3.40bn | €3.41bn | €3.37bn | €3.47bn | €3.39bn | €3.32bn |
| Debt | — | — | €383.3m | — | — | — | €467.6m | — |
| Shareholders' equity | €2.15bn | €2.14bn | €2.10bn | €2.05bn | €2.00bn | €2.04bn | €2.01bn | €1.93bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 35.3% | 34.3% | 34.8% | 34.9% | 35.8% | 35.8% | — |
| Operating margin | 16.0% | 16.2% | 18.6% | 18.2% | 17.4% | 16.0% | — |
| Net margin | 10.1% | 10.9% | 12.2% | 12.8% | 12.2% | 13.2% | — |
| Return on equity | 9.9% | 11.3% | 15.3% | 17.2% | 14.7% | 15.0% | — |
| Return on assets | 6.1% | 6.7% | 8.5% | 8.5% | 7.1% | 8.0% | — |
| Free cash flow yield | 11.2% | 12.5% | 12.8% | 8.7% | 6.7% | 8.8% | — |
| Revenue growth | -0.4% | -7.2% | 7.8% | 29.5% | 23.9% | -5.4% | — |
| Earnings growth | -8.3% | -17.2% | 2.9% | 36.0% | 14.6% | -4.6% | — |
| Current ratio | 2.22x | 2.25x | 1.93x | 1.90x | 1.87x | 2.31x | — |
| Debt to equity | 0.31x | 0.37x | 0.42x | 0.54x | 0.58x | 0.48x | — |
| Equity ratio | 61.7% | 59.2% | 55.3% | 49.6% | 47.9% | 53.0% | — |
| Interest coverage | 9.99x | 7.82x | 11.56x | 39.57x | 66.97x | 39.97x | — |
| R&D as a share of sales | — | 0.1% | 1.6% | 1.5% | 1.7% | 1.9% | 1.7% |
| Buybacks as a share of market value | -0.1% | 0.1% | -1.1% | 2.3% | -1.0% | -2.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.1% | 9.9% | 8.8% |
| Operating income | -4.5% | 10.1% | 118.2% |
| Net income | -7.9% | 4.0% | 5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.8% | 34.8% | 35.1% | 35.7% |
| Operating margin | 16.1% | 17.1% | 17.2% | 16.4% |
| Net margin | 10.5% | 11.5% | 11.8% | 12.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.9 | 20.1 | 18.3 | 16.8 | 35.7 | 25.3 | 16.5 | 16.1 | 20.9 | 17.6 |
| Price to sales | 2.4 | 2.2 | 2.2 | 2.1 | 4.3 | 3.3 | 2.2 | 2.2 | 2.6 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 18 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.35 | 0.33 | 0.32 | 0.30 | 0.28 | 0.26 | 0.25 | 0.22 |
- 1-to-1 reverse split · 17 Oct 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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