M 
54.40
+1.87%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€839.6m
FY2016FY2025
Net income
€112.5m
FY2016FY2025
Free cash flow
€97.1m
FY2016FY2025
Shareholders' equity
€484.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €839.6m | €932.8m | €964.3m | €836.2m | €643.8m | €507.5m | €486.9m | €569.4m | €511.7m | €456.3m |
| Gross profit | €324.0m | €401.4m | €440.2m | €374.7m | €273.6m | €198.0m | €196.2m | €261.1m | €235.4m | €208.5m |
| Research and development | €115.9m | €110.3m | €106.7m | €90.2m | €78.4m | €77.7m | €79.6m | €21.1m | €69.5m | €64.0m |
| Operating income | €134.0m | €219.9m | €261.3m | €226.5m | €148.4m | €75.5m | €70.6m | €138.5m | €133.0m | €114.4m |
| Net income | €112.5m | €171.4m | €209.5m | €197.2m | €131.1m | €69.3m | €60.3m | €115.5m | €111.0m | €96.3m |
| Diluted earnings per share | 2.79 | 4.24 | 5.18 | 4.88 | 3.23 | 1.70 | 1.49 | 2.84 | 2.74 | 2.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €903.3m | €894.3m | €866.1m | €580.2m | €461.2m | €433.4m | €418.6m | €428.0m | €403.4m | €358.2m |
| Cash and short-term investments | €34.6m | €32.7m | €39.3m | €97.6m | €35.0m | €58.9m | €38.8m | €34.5m | €75.5m | €75.8m |
| Total liabilities | €418.7m | €326.8m | €315.0m | €98.2m | €72.1m | €118.6m | €119.5m | €102.0m | €109.1m | €95.7m |
| Debt | €316.4m | €222.2m | €188.2m | €4.2m | €4.6m | €65.8m | €66.9m | €40.2m | €15.1m | €15.1m |
| Shareholders' equity | €484.5m | €567.5m | €551.1m | €482.1m | €389.1m | €314.8m | €299.1m | €326.0m | €294.3m | €262.5m |
| Shares outstanding | 40m | 40m | 40m | 40m | 41m | 41m | 40m | 41m | 41m | 40m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €126.5m | €178.2m | €3.0m | €187.8m | €142.2m | €95.8m | €94.4m | €99.7m | €113.3m | €108.0m |
| Capital spending | −€29.4m | −€53.1m | −€94.2m | −€39.9m | −€39.1m | −€24.8m | −€26.6m | −€76.3m | −€46.4m | −€28.8m |
| Free cash flow | €97.1m | €125.1m | −€91.2m | €148.0m | €103.1m | €70.9m | €67.8m | €23.4m | €66.9m | €79.2m |
| Dividends paid | −€147.9m | −€149.5m | −€141.4m | −€105.0m | −€88.9m | −€52.1m | −€88.1m | −€84.1m | −€80.1m | −€76.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €217.1m | €202.1m | €214.5m | €215.3m | €211.6m | €198.2m | €197.4m | €247.9m |
| Gross profit | €87.9m | €80.6m | €82.3m | €83.4m | €82.6m | €75.7m | €77.6m | €108.2m |
| Operating income | €38.6m | €33.2m | €31.5m | €37.8m | €35.7m | €29.0m | €27.6m | €64.2m |
| Net income | €30.8m | €23.1m | €22.6m | €27.5m | €37.8m | €24.6m | €18.3m | €51.2m |
| Diluted earnings per share | 0.76 | 0.57 | 0.56 | 0.68 | 0.94 | 0.61 | 0.45 | 1.27 |
| Cash from operations | €55.0m | €91.0m | €47.0m | €44.0m | €18.0m | €16.0m | €47.0m | €49.0m |
| Capital spending | −€9.0m | −€9.0m | −€8.0m | −€8.0m | −€7.0m | −€5.0m | −€12.0m | −€13.0m |
| Free cash flow | €46.0m | €82.0m | €39.0m | €36.0m | €11.0m | €11.0m | €35.0m | €36.0m |
| Total assets | €831.2m | €851.2m | €903.3m | €921.6m | €928.1m | €904.9m | €894.3m | €897.1m |
| Cash and short-term investments | €37.3m | €37.1m | €34.6m | €33.7m | €33.9m | €34.8m | €32.7m | €34.7m |
| Debt | €295.2m | €245.7m | €316.4m | €13.1m | €316.0m | €220.9m | €215.5m | €188.1m |
| Shareholders' equity | €435.7m | €499.1m | €484.5m | €534.7m | €508.3m | €576.2m | €567.5m | €604.9m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 38.6% | 43.0% | 45.7% | 44.8% | 42.5% | 39.0% |
| Operating margin | 16.2% | 23.6% | 27.1% | 28.6% | 24.1% | 15.2% |
| Net margin | 13.4% | 18.4% | 21.7% | 23.6% | 20.4% | 13.7% |
| Return on equity | 23.2% | 30.2% | 38.0% | 40.9% | 33.7% | 22.0% |
| Return on assets | 12.5% | 19.2% | 24.2% | 34.0% | 28.4% | 16.0% |
| Free cash flow yield | 6.8% | 10.0% | 4.2% | 9.9% | 7.8% | 5.2% |
| Revenue growth | -10.0% | -3.3% | 15.3% | 29.9% | 26.9% | 4.2% |
| Earnings growth | -34.4% | -18.1% | 6.2% | 50.4% | 89.2% | 15.0% |
| Current ratio | 5.46x | 4.54x | 3.63x | 4.63x | 4.22x | 4.85x |
| Debt to equity | 0.65x | 0.38x | 0.34x | 0.00x | 0.00x | 0.20x |
| Equity ratio | 53.6% | 63.5% | 63.6% | 83.1% | 84.4% | 72.6% |
| Interest coverage | 13.76x | 19.24x | 42.34x | 334.49x | 187.36x | 78.19x |
| R&D as a share of sales | 13.8% | 11.8% | 11.1% | 10.8% | 12.2% | 15.3% |
| Buybacks as a share of market value | 0.3% | 0.0% | -0.1% | 0.5% | 0.2% | -0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.1% | 10.6% | 7.7% |
| Operating income | -16.1% | 12.1% | 2.2% |
| Net income | -17.1% | 10.2% | 1.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.9% | 43.1% | 42.6% | 43.4% |
| Operating margin | 20.0% | 23.6% | 22.6% | 22.8% |
| Net margin | 16.0% | 19.3% | 18.9% | 19.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.6 | 13.3 | 17.6 | 16.6 | 32.5 | 46.9 | 45.0 | 17.9 | 30.8 | 26.8 |
| Price to sales | 2.8 | 2.5 | 3.8 | 3.9 | 6.6 | 6.4 | 5.6 | 3.6 | 6.7 | 5.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 19 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.40 | 3.70 | 3.70 | 3.50 | 2.60 | 2.20 | 1.30 | 2.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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