M 
17.45
+2.71%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€5.24bn
FY2016FY2025
Net income
€423.0m
FY2016FY2025
Free cash flow
€627.0m
FY2016FY2025
Shareholders' equity
€2.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €5.24bn | €4.86bn | €5.39bn | €5.29bn | €4.24bn | €3.32bn | €1.21bn | €1.28bn | €1.14bn | €1.06bn |
| Gross profit | €1.68bn | €1.63bn | €1.70bn | €1.39bn | €1.18bn | €890.0m | €360.2m | €196.5m | €268.7m | €233.3m |
| Research and development | €109.0m | €103.0m | €66.0m | €64.0m | €66.0m | €53.0m | €55.3m | €57.4m | €55.6m | €55.2m |
| Operating income | €735.0m | €727.0m | €805.0m | €504.0m | €425.0m | €239.0m | €136.6m | −€67.5m | €24.6m | −€66.0m |
| Net income | €423.0m | €329.0m | €543.0m | €301.0m | €342.0m | €138.0m | €27.3m | −€67.3m | €2.0m | −€69.6m |
| Diluted earnings per share | 0.50 | 0.40 | 0.66 | 0.36 | 0.42 | 0.17 | 0.15 | -0.37 | 0.01 | -0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €7.21bn | €7.01bn | €7.16bn | €6.75bn | €5.83bn | €5.51bn | €1.48bn | €1.36bn | €1.35bn | €1.43bn |
| Cash and short-term investments | €501.0m | €431.0m | €638.0m | €601.0m | €473.0m | €537.0m | €267.4m | €233.4m | €230.2m | €233.0m |
| Total liabilities | €4.54bn | €4.40bn | €4.54bn | €4.41bn | €3.58bn | €3.47bn | €1.10bn | €980.4m | €875.5m | €928.9m |
| Debt | €1.59bn | €1.61bn | €1.53bn | €1.29bn | €953.0m | €1.34bn | €288.5m | €201.1m | €228.5m | €226.8m |
| Shareholders' equity | €2.66bn | €2.60bn | €2.61bn | €2.34bn | €2.25bn | €2.04bn | €376.1m | €374.4m | €467.0m | €494.8m |
| Shares outstanding | 842m | 832m | 826m | 826m | 807m | 800m | 182m | 182m | 181m | 183m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €779.0m | €332.0m | €302.0m | €127.0m | €508.0m | €491.0m | €67.9m | €70.4m | €39.6m | −€84.6m |
| Capital spending | −€152.0m | −€188.0m | −€170.0m | −€114.0m | −€91.0m | −€88.0m | −€18.4m | −€21.6m | −€20.9m | −€21.7m |
| Free cash flow | €627.0m | €144.0m | €132.0m | €13.0m | €417.0m | €403.0m | €49.5m | €48.8m | €18.7m | −€106.3m |
| Dividends paid | −€315.0m | −€298.0m | −€248.0m | −€198.0m | −€166.0m | −€179.0m | −€148.0m | −€131.0m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.33bn | €1.25bn | €1.44bn | €1.33bn | €1.21bn | €1.17bn | €1.27bn | €1.16bn |
| Gross profit | €445.0m | €429.0m | €453.0m | €440.0m | €384.0m | €387.0m | €415.0m | €371.0m |
| Operating income | €185.0m | €165.0m | €207.0m | €209.0m | €173.0m | €170.0m | €167.0m | €178.0m |
| Net income | €128.0m | €124.0m | €101.0m | €142.0m | €61.0m | €118.0m | €158.0m | −€78.0m |
| Diluted earnings per share | 0.15 | 0.15 | 0.12 | 0.17 | 0.07 | 0.14 | 0.19 | -0.09 |
| Cash from operations | €118.0m | €13.0m | €280.0m | €216.0m | €132.0m | €151.0m | €251.0m | −€64.0m |
| Capital spending | −€36.0m | −€38.0m | −€41.0m | −€55.0m | −€24.0m | −€32.0m | −€35.0m | −€53.0m |
| Free cash flow | €82.0m | −€25.0m | €239.0m | €161.0m | €108.0m | €119.0m | €216.0m | −€117.0m |
| Total assets | €7.39bn | €7.26bn | €7.21bn | €7.43bn | €7.23bn | €7.21bn | €7.01bn | €7.06bn |
| Cash and short-term investments | €383.0m | €416.0m | €501.0m | €461.0m | €432.0m | €533.0m | €431.0m | €467.0m |
| Debt | €1.52bn | €1.46bn | €1.59bn | €1.60bn | €1.72bn | €1.60bn | €1.61bn | €1.63bn |
| Shareholders' equity | €2.60bn | €2.80bn | €2.66bn | €2.55bn | €2.41bn | €2.71bn | €2.60bn | €2.44bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.0% | 33.4% | 31.6% | 26.2% | 27.8% | 26.8% |
| Operating margin | 14.0% | 14.9% | 14.9% | 9.5% | 10.0% | 7.2% |
| Net margin | 8.1% | 6.8% | 10.1% | 5.7% | 8.1% | 4.2% |
| Return on equity | 15.9% | 12.6% | 20.8% | 12.9% | 15.2% | 6.8% |
| Return on assets | 5.9% | 4.7% | 7.6% | 4.5% | 5.9% | 2.5% |
| Free cash flow yield | 6.5% | 3.7% | 3.4% | 1.7% | 4.4% | 4.3% |
| Revenue growth | 7.8% | -9.8% | 1.8% | 25.0% | 27.6% | 174.2% |
| Earnings growth | 28.6% | -39.4% | 80.4% | -12.0% | 147.8% | 405.5% |
| Current ratio | 1.48x | 1.54x | 1.60x | 1.36x | 1.26x | 1.53x |
| Debt to equity | 0.57x | 0.58x | 0.55x | 0.51x | 0.38x | 0.61x |
| Equity ratio | 36.9% | 37.1% | 36.4% | 34.7% | 38.6% | 37.0% |
| Interest coverage | 6.87x | 6.92x | 7.97x | 11.45x | 18.48x | 8.24x |
| R&D as a share of sales | 2.1% | 2.1% | 1.2% | 1.2% | 1.6% | 1.6% |
| Buybacks as a share of market value | -1.2% | -0.6% | -0.1% | -2.4% | -0.8% | -339.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.3% | 9.6% | 15.9% |
| Operating income | 13.4% | 25.2% | — |
| Net income | 12.0% | 25.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.7% | 30.8% | 29.9% | 28.8% |
| Operating margin | 14.5% | 13.3% | 12.1% | 10.1% |
| Net margin | 7.4% | 7.7% | 7.3% | 5.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 29.8 | 22.7 | 13.9 | 26.4 | 22.1 | 47.4 | 38.4 | -8.3 | 407.4 | -8.3 |
| Price to sales | 2.4 | 1.5 | 1.4 | 1.5 | 1.8 | 2.0 | 0.9 | 0.4 | 0.7 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 23 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.38 | 0.36 | 0.30 | 0.24 | 0.20 | 0.10 | 0.10 |
- 4-for-1 split · 27 Mar 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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