I 
14.43
+0.56%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€13.43bn
FY2018FY2025
Net income
€289.0m
FY2018FY2025
Free cash flow
—
FY2018FY2025
Shareholders' equity
€2.76bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €13.43bn | €14.42bn | €16.21bn | €14.16bn | €12.52bn | €10.41bn | €11.95bn | €12.01bn |
| Gross profit | €2.84bn | €3.12bn | €2.70bn | €1.78bn | €1.64bn | €949.0m | €1.65bn | €1.82bn |
| Research and development | €559.0m | €617.0m | €626.0m | €473.0m | €481.0m | €436.0m | €464.0m | €413.0m |
| Operating income | €538.0m | €729.0m | €487.0m | €401.0m | €340.0m | −€431.0m | €336.0m | €472.0m |
| Net income | €289.0m | €349.0m | €218.0m | €147.0m | €76.0m | −€372.0m | €84.0m | €166.0m |
| Diluted earnings per share | 0.85 | 1.32 | 0.82 | 0.54 | 0.28 | -1.37 | 0.31 | 0.61 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | €18.86bn | €19.44bn | €18.39bn | €16.01bn | €16.56bn | €15.63bn | €15.90bn | €15.76bn |
| Cash and short-term investments | €2.87bn | €3.42bn | €2.70bn | €2.23bn | €903.0m | €418.0m | €374.0m | €461.0m |
| Total liabilities | €16.10bn | €16.67bn | €15.99bn | €13.62bn | €14.25bn | €13.29bn | €13.19bn | €13.04bn |
| Debt | €5.44bn | €6.31bn | €6.10bn | €4.43bn | €5.79bn | €5.31bn | €5.15bn | €4.79bn |
| Shareholders' equity | €2.76bn | €2.70bn | €2.35bn | €2.35bn | €2.29bn | €2.27bn | €2.68bn | €2.70bn |
| Shares outstanding | 340m | 264m | 265m | 272m | 272m | 271m | 271m | 271m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | €775.0m | €1.09bn | €1.34bn | €1.41bn | €539.0m | €559.0m | €709.0m | €355.0m |
| Capital spending | −€775.0m | −€950.0m | −€970.0m | −€777.0m | −€564.0m | −€401.0m | −€492.0m | −€437.0m |
| Free cash flow | — | €139.0m | €366.0m | €630.0m | −€25.0m | €158.0m | €217.0m | −€82.0m |
| Dividends paid | −€88.0m | −€91.0m | — | −€1.0m | — | — | −€1.0m | −€1.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €3.76bn | €2.83bn | €4.00bn | €3.12bn | €3.78bn | €3.03bn | €4.56bn | €3.45bn |
| Gross profit | €502.0m | €289.0m | €798.0m | €653.0m | €809.0m | €706.0m | €889.0m | €779.0m |
| Operating income | — | −€41.0m | €224.0m | €91.0m | €213.0m | €89.0m | €238.0m | €201.0m |
| Net income | €37.0m | €1.17bn | €116.0m | €30.0m | €105.0m | €38.0m | €90.0m | €89.0m |
| Diluted earnings per share | 0.14 | 4.39 | 0.34 | 0.09 | 0.31 | 0.14 | 0.27 | 0.26 |
| Cash from operations | −€462.0m | −€243.0m | €775.0m | −€44.0m | −€11.0m | −€166.0m | €1.09bn | −€374.0m |
| Capital spending | −€206.0m | −€124.0m | −€775.0m | −€415.0m | −€276.0m | −€130.0m | −€950.0m | −€534.0m |
| Free cash flow | −€668.0m | −€367.0m | €0 | −€459.0m | −€287.0m | −€296.0m | €139.0m | −€908.0m |
| Total assets | €17.76bn | €18.05bn | €18.86bn | €17.79bn | €18.57bn | €18.28bn | €19.44bn | €18.03bn |
| Cash and short-term investments | — | — | €2.87bn | €2.20bn | €2.71bn | — | €3.42bn | €2.35bn |
| Debt | €5.66bn | €4.68bn | €3.79bn | €3.40bn | €3.51bn | €2.66bn | €3.96bn | €3.70bn |
| Shareholders' equity | €2.47bn | €3.95bn | €2.76bn | €2.63bn | €2.60bn | €2.60bn | €2.70bn | €2.44bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.6% | 17.3% | 16.7% | 13.7% | 14.0% | 9.1% |
| Operating margin | 5.1% | 5.4% | 4.1% | 3.0% | 2.1% | -3.9% |
| Net margin | 2.1% | 2.3% | 1.3% | 1.0% | 0.4% | -3.9% |
| Return on equity | 10.3% | 12.9% | 9.3% | 6.2% | 2.3% | -18.0% |
| Return on assets | 1.5% | 1.8% | 1.2% | 0.9% | 0.3% | -2.6% |
| Free cash flow yield | 35.5% | 56.1% | 59.3% | 56.0% | 28.4% | 24.7% |
| Revenue growth | -12.2% | -5.7% | 12.9% | 13.5% | 21.5% | -12.9% |
| Earnings growth | -18.1% | 60.1% | 48.3% | 182.7% | -112.7% | -585.7% |
| Current ratio | 0.92x | 1.96x | 1.09x | 1.02x | 1.30x | 0.89x |
| Debt to equity | 3.42x | 2.29x | 2.71x | 3.09x | 0.94x | 2.28x |
| Equity ratio | 14.7% | 13.9% | 12.8% | 14.7% | 13.8% | 14.5% |
| Interest coverage | 2.03x | 3.42x | 2.45x | 2.47x | 2.84x | -5.02x |
| R&D as a share of sales | 4.2% | 4.0% | 3.9% | 3.3% | 3.8% | 4.2% |
| Buybacks as a share of market value | -0.8% | 1.5% | 0.4% | -0.4% | 0.0% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.3% | 5.0% | — |
| Operating income | 10.3% | — | — |
| Net income | 25.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.4% | 17.9% | 16.0% | — |
| Operating margin | 4.6% | 3.7% | 2.5% | — |
| Net margin | 2.3% | 1.7% | 0.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 22.1 | 7.1 | 9.9 | 10.3 |
| Price to sales | 0.5 | 0.2 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 22 Apr 2025.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 0.33 | 0.22 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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