K 
95.45
+0.32%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€9.20bn
FY2016FY2025
Net income
€671.2m
FY2016FY2025
Free cash flow
€454.5m
FY2016FY2025
Shareholders' equity
€4.48bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €9.20bn | €8.61bn | €8.09bn | €8.34bn | €6.50bn | €4.58bn | €4.66bn | €4.37bn | €3.67bn | €3.11bn |
| Gross profit | €2.73bn | €2.55bn | €2.34bn | €2.22bn | €1.86bn | €1.39bn | €1.35bn | €1.21bn | €1.05bn | €940.2m |
| Operating income | €903.5m | €862.1m | €835.2m | €800.8m | €725.3m | €484.7m | €475.2m | €423.0m | €361.7m | €328.2m |
| Net income | €671.2m | €665.5m | €640.3m | €598.0m | €554.1m | €373.6m | €369.4m | €330.9m | €284.3m | €255.4m |
| Diluted earnings per share | 3.69 | 3.66 | 3.52 | 3.29 | 3.05 | 2.06 | 2.04 | 1.82 | 1.57 | 1.41 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €9.82bn | €9.82bn | €8.00bn | €7.68bn | €6.39bn | €5.34bn | €4.29bn | €4.03bn | €3.24bn | €3.00bn |
| Cash and short-term investments | — | — | — | — | €641.4m | €1.33bn | €190.9m | €294.5m | €176.6m | €222.0m |
| Total liabilities | €5.09bn | €5.23bn | €4.05bn | €4.29bn | €3.43bn | €2.94bn | €2.17bn | €2.24bn | €1.67bn | €1.53bn |
| Debt | €2.09bn | €2.39bn | €1.71bn | €2.10bn | €1.56bn | €1.70bn | €973.7m | €1.02bn | €662.7m | €698.4m |
| Shareholders' equity | €4.48bn | €4.29bn | €3.85bn | €3.32bn | €2.89bn | €2.35bn | €2.07bn | €1.75bn | €1.53bn | €1.45bn |
| Shares outstanding | 182m | 182m | 182m | 182m | 181m | 182m | 181m | 182m | 182m | 181m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €819.7m | €894.5m | €1.16bn | €692.0m | €329.2m | €638.5m | €520.4m | €438.3m | €283.6m | €309.6m |
| Capital spending | −€365.2m | −€366.7m | −€237.7m | −€269.2m | −€168.8m | −€131.8m | −€161.0m | −€144.2m | −€89.8m | −€113.3m |
| Free cash flow | €454.5m | €527.8m | €924.5m | €422.8m | €160.4m | €506.7m | €359.4m | €294.1m | €193.8m | €196.3m |
| Dividends paid | −€99.5m | −€96.6m | −€91.2m | −€93.7m | −€73.5m | −€73.5m | −€77.6m | −€68.3m | −€61.7m | −€48.0m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2019 | Sept 2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.52bn | €4.44bn | €4.17bn | €4.01bn | €4.08bn | €2.04bn | €1.21bn | €1.21bn |
| Gross profit | €1.34bn | €1.30bn | €1.24bn | €1.16bn | €1.18bn | €590.5m | €355.3m | €355.3m |
| Operating income | €417.3m | €464.7m | €397.4m | €420.3m | €414.9m | €191.4m | €129.1m | €129.1m |
| Net income | €313.1m | €361.8m | €303.7m | €321.9m | €318.4m | €162.0m | €100.0m | €100.0m |
| Diluted earnings per share | 1.71 | 1.98 | 1.65 | 1.76 | 1.74 | 0.87 | 0.55 | 0.55 |
| Cash from operations | — | — | — | — | — | — | €178.0m | €178.0m |
| Capital spending | — | — | — | — | — | — | −€44.0m | −€44.0m |
| Free cash flow | — | — | — | — | — | — | €134.0m | €134.0m |
| Total assets | €9.83bn | €9.82bn | €9.04bn | €8.00bn | €8.12bn | €8.12bn | €4.29bn | €4.29bn |
| Cash and short-term investments | — | — | — | — | — | €761.2m | €190.9m | — |
| Debt | €2.44bn | €2.37bn | €1.57bn | €1.71bn | €1.88bn | €2.05bn | €874.7m | €848.8m |
| Shareholders' equity | €4.41bn | €4.29bn | €4.02bn | €3.85bn | €3.57bn | €3.67bn | €2.07bn | €2.07bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 29.7% | 29.6% | 28.9% | 26.6% | 28.6% | 30.3% | — | — | — | — | — | — | — | — |
| Operating margin | 9.8% | 10.0% | 10.3% | 9.6% | 11.2% | 10.6% | — | — | — | — | — | — | — | — |
| Net margin | 7.3% | 7.7% | 7.9% | 7.2% | 8.5% | 8.2% | — | — | — | — | — | — | — | — |
| Return on equity | 15.0% | 15.5% | 16.6% | 18.0% | 19.2% | 15.9% | — | — | — | — | — | — | — | — |
| Return on assets | 6.8% | 6.8% | 8.0% | 7.8% | 8.7% | 7.0% | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | 7.6% | 5.2% | 2.7% | 4.2% | 3.7% | 3.1% | — | — | — | — | — | — |
| Revenue growth | 6.9% | 6.4% | -3.0% | 28.4% | 42.0% | -1.8% | — | — | — | — | — | — | — | — |
| Earnings growth | 0.9% | 3.9% | 7.1% | 7.9% | 48.3% | 1.1% | — | — | — | — | — | — | — | — |
| Current ratio | 1.37x | 1.60x | 1.65x | 1.78x | 1.80x | 2.21x | — | — | — | — | — | — | — | — |
| Debt to equity | 0.47x | 0.56x | 0.44x | 0.63x | 0.50x | 0.69x | — | — | — | — | — | — | — | — |
| Equity ratio | 45.6% | 43.7% | 48.1% | 43.2% | 45.3% | 44.0% | — | — | — | — | — | — | — | — |
| Interest coverage | 11.64x | 12.79x | 13.11x | 20.32x | 20.04x | 20.11x | — | — | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | — | 0.8% | 0.8% | 0.2% | 0.4% | 0.4% | 0.5% |
| Buybacks as a share of market value | — | — | -0.2% | -0.1% | 0.1% | -0.4% | 0.7% | -0.3% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.3% | 15.0% | 12.7% |
| Operating income | 4.1% | 13.3% | 13.9% |
| Net income | 3.9% | 12.4% | 13.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.6% | 28.7% | 28.9% | 28.9% |
| Operating margin | 9.9% | 9.9% | 10.2% | 10.1% |
| Net margin | 7.5% | 7.5% | 7.7% | 7.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.1 | 19.3 | 22.3 | 15.4 | 34.4 | 27.9 | 26.7 | 20.6 | 23.3 | 18.3 |
| Price to sales | 1.5 | 1.5 | 1.8 | 1.1 | 2.9 | 2.3 | 2.1 | 1.6 | 1.8 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 9 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.292 | 0.548 | 0.819 | 0.501 | 0.516 | 0.405 | 0.43 | 0.38 |
- 1-to-1 reverse split · 27 May 1999
- 5-for-1 split · 17 Nov 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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