L 
50.43
+4.91%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€19.50bn
FY2016FY2025
Net income
€1.22bn
FY2016FY2025
Free cash flow
€726.0m
FY2016FY2025
Shareholders' equity
€9.56bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €19.50bn | €17.76bn | €15.29bn | €14.71bn | €14.13bn | €13.41bn | €13.78bn | €12.24bn | €11.73bn | €12.00bn |
| Research and development | — | — | €177.0m | €164.0m | €149.0m | €136.0m | €131.0m | €171.0m | €1.61bn | €1.44bn |
| Operating income | €1.72bn | €1.18bn | €876.0m | €859.0m | €827.0m | €645.0m | €957.0m | €517.0m | €780.0m | €930.0m |
| Net income | €1.22bn | €1.07bn | €658.0m | €927.0m | €586.0m | €241.0m | €821.0m | €509.0m | €277.0m | €505.0m |
| Diluted earnings per share | 2.12 | 1.86 | 1.14 | 1.61 | 1.02 | 0.42 | 1.43 | 0.89 | 0.48 | 0.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €34.51bn | €33.67bn | €30.69bn | €28.58bn | €28.38bn | €27.07bn | €26.89bn | €25.52bn | €24.71bn | €25.39bn |
| Cash and short-term investments | €3.24bn | €2.56bn | €2.41bn | €1.51bn | €2.48bn | €2.21bn | €1.96bn | €2.05bn | €1.90bn | €2.32bn |
| Total liabilities | €24.95bn | €23.47bn | €21.71bn | €20.53bn | €21.54bn | €21.44bn | €21.22bn | €21.01bn | €20.50bn | €21.01bn |
| Debt | €1.90bn | €4.70bn | €4.93bn | €4.61bn | €5.67bn | €5.70bn | €5.01bn | €4.61bn | €4.68bn | €5.28bn |
| Shareholders' equity | €9.56bn | €8.99bn | €7.80bn | €7.18bn | €6.43bn | €5.27bn | €5.32bn | €4.50bn | €4.20bn | €4.36bn |
| Shares outstanding | 577m | 576m | 575m | 575m | 575m | 575m | 575m | 574m | 574m | 573m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.74bn | €1.54bn | €1.19bn | €1.28bn | €805.0m | €275.0m | €645.0m | €687.0m | €722.0m | €825.0m |
| Capital spending | −€1.02bn | −€895.0m | −€782.0m | −€762.0m | −€615.0m | −€311.0m | −€594.0m | −€577.0m | −€483.0m | −€391.0m |
| Free cash flow | €726.0m | €646.0m | €404.0m | €523.0m | €190.0m | −€36.0m | €51.0m | €110.0m | €239.0m | €434.0m |
| Dividends paid | −€343.0m | −€177.0m | −€81.0m | −€80.0m | −€79.0m | −€81.0m | −€80.0m | −€81.0m | −€80.0m | −€4.0m |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 9.5% | 6.5% | 5.7% | 5.8% | 5.9% | 4.8% |
| Net margin | 6.3% | 6.0% | 4.3% | 6.3% | 4.1% | 1.8% |
| Return on equity | 12.8% | 11.9% | 8.4% | 12.9% | 9.1% | 4.6% |
| Return on assets | 3.5% | 3.2% | 2.1% | 3.2% | 2.1% | 0.9% |
| Free cash flow yield | 10.3% | 8.4% | 6.8% | 7.0% | 4.9% | 2.0% |
| Revenue growth | 9.8% | 16.2% | 3.9% | 4.1% | 5.4% | -2.7% |
| Earnings growth | 14.0% | 63.2% | -29.0% | 58.2% | 143.2% | -70.6% |
| Current ratio | 0.98x | 0.96x | 0.96x | 0.96x | 1.00x | 0.95x |
| Debt to equity | 0.44x | 0.46x | 0.56x | 0.57x | 0.81x | 0.83x |
| Equity ratio | 27.7% | 26.7% | 25.4% | 25.1% | 22.7% | 19.5% |
| Interest coverage | 9.16x | 4.30x | 2.76x | 3.21x | 4.24x | 2.76x |
| R&D as a share of sales | 1.2% | 1.2% | 1.2% | 1.1% | 1.1% | 1.0% |
| Buybacks as a share of market value | -0.1% | -0.2% | 0.0% | -0.0% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.9% | 7.8% | 4.1% |
| Operating income | 26.1% | 21.7% | 14.1% |
| Net income | 9.7% | 38.4% | 9.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.8% | 6.9% | 6.4% | 6.2% |
| Net margin | 6.2% | 5.8% | 5.0% | 4.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.1 | 13.9 | 13.1 | 5.0 | 6.2 | 14.1 | 7.3 | 8.7 | 20.6 | 15.1 |
| Price to sales | 1.4 | 0.8 | 0.6 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 22 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.63 | 0.52 | 0.28 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 |
- 20-to-1 reverse split · 18 Jul 2005
- 1-to-1 reverse split · 1 Jan 2002
- 1-to-1 reverse split · 12 Sept 2001
- 1.491-for-1 split · 4 May 1998
- 2-to-1 reverse split · 18 Jan 1993
- 1.883-for-1 split · 14 Jun 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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