N 
125.80
+1.86%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€7.81bn
FY2016FY2025
Net income
€352.0m
FY2016FY2025
Free cash flow
€385.0m
FY2016FY2025
Shareholders' equity
€2.00bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €7.81bn | €8.55bn | €7.79bn | €8.37bn | €7.37bn | €5.98bn | €6.74bn | €6.49bn | €6.37bn | €5.81bn |
| Gross profit | €907.0m | €1.17bn | €995.0m | €996.0m | €781.0m | €655.0m | €786.0m | €762.0m | €860.0m | €812.0m |
| Research and development | €54.0m | €89.0m | €89.0m | €87.0m | €80.0m | €77.0m | €94.0m | €105.0m | €99.0m | €81.0m |
| Operating income | €425.0m | €566.0m | €414.0m | €395.0m | €338.0m | €246.0m | €220.0m | €107.0m | €281.0m | €161.0m |
| Net income | €352.0m | €279.0m | €221.0m | €245.0m | €164.0m | €78.0m | −€117.0m | €14.0m | €125.0m | €61.0m |
| Diluted earnings per share | 7.97 | 6.20 | 4.91 | 5.43 | 3.66 | 1.78 | -2.69 | 0.32 | 2.58 | 1.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €8.04bn | €7.67bn | €6.54bn | €6.40bn | €5.59bn | €5.23bn | €5.12bn | €5.12bn | €5.15bn | €5.30bn |
| Cash and short-term investments | €1.63bn | €1.25bn | €1.13bn | €1.13bn | €972.0m | €1.14bn | €642.0m | €901.0m | €805.0m | €1.02bn |
| Total liabilities | €6.02bn | €5.84bn | €4.83bn | €4.74bn | €4.12bn | €3.97bn | €3.87bn | €3.75bn | €3.67bn | €3.83bn |
| Debt | €1.78bn | €1.93bn | €1.34bn | €1.32bn | €1.05bn | €1.32bn | €1.11bn | €1.23bn | €1.14bn | €1.24bn |
| Shareholders' equity | €2.00bn | €1.81bn | €1.70bn | €1.65bn | €1.45bn | €1.22bn | €1.21bn | €1.32bn | €1.42bn | €1.41bn |
| Shares outstanding | 44m | 45m | 45m | 45m | 45m | 44m | 43m | 44m | 49m | 44m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €768.0m | €775.0m | €700.0m | €544.0m | €401.0m | €456.0m | €300.0m | €263.0m | €165.0m | €130.0m |
| Capital spending | −€383.0m | −€319.0m | −€377.0m | −€298.0m | −€206.0m | −€225.0m | −€238.0m | −€207.0m | −€169.0m | −€146.0m |
| Free cash flow | €385.0m | €456.0m | €323.0m | €246.0m | €195.0m | €231.0m | €62.0m | €56.0m | −€4.0m | −€16.0m |
| Dividends paid | −€116.0m | −€102.0m | −€92.0m | −€54.0m | −€32.0m | −€4.0m | −€15.0m | −€33.0m | −€23.0m | −€1.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.74bn | €3.11bn | €4.70bn | €4.32bn | €4.22bn | €3.78bn | €4.01bn | €2.00bn |
| Gross profit | €464.0m | €300.0m | €607.0m | €587.0m | €630.0m | €451.0m | €532.0m | €263.0m |
| Operating income | €225.0m | −€121.0m | €499.0m | €285.0m | €324.0m | €173.0m | €247.0m | €109.5m |
| Net income | €103.0m | −€159.0m | €372.0m | €106.0m | €174.0m | €89.0m | €132.0m | €67.0m |
| Diluted earnings per share | 2.30 | -3.60 | 8.42 | 2.35 | 3.86 | 1.98 | 2.93 | 1.49 |
| Cash from operations | €331.0m | €363.0m | €405.0m | €455.0m | €307.0m | €322.0m | €319.0m | — |
| Capital spending | −€191.0m | −€222.0m | −€161.0m | −€186.0m | −€191.0m | −€229.0m | −€148.0m | — |
| Free cash flow | €140.0m | €141.0m | €244.0m | €269.0m | €116.0m | €93.0m | €171.0m | — |
| Total assets | €9.60bn | €8.04bn | €8.11bn | €7.67bn | €7.73bn | €6.54bn | €6.61bn | €6.61bn |
| Cash and short-term investments | €1.46bn | €1.63bn | €2.04bn | €1.25bn | €1.12bn | €1.13bn | €1.17bn | €1.17bn |
| Debt | €859.0m | €1.78bn | €361.0m | €1.80bn | €278.0m | €1.24bn | €1.31bn | €1.18bn |
| Shareholders' equity | €2.13bn | €2.00bn | €1.89bn | €1.81bn | €1.81bn | €1.70bn | €1.56bn | €1.58bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.6% | 13.7% | 12.8% | 11.9% | 10.6% | 11.0% |
| Operating margin | 4.7% | 5.3% | 4.5% | 4.5% | 3.5% | 4.0% |
| Net margin | 4.5% | 3.3% | 2.8% | 2.9% | 2.2% | 1.3% |
| Return on equity | 17.6% | 15.4% | 13.0% | 14.8% | 11.3% | 6.4% |
| Return on assets | 4.4% | 3.6% | 3.4% | 3.8% | 2.9% | 1.5% |
| Free cash flow yield | 19.7% | 18.4% | 18.1% | 14.1% | 10.2% | 11.7% |
| Revenue growth | -8.6% | 9.7% | -6.9% | 13.5% | 23.3% | -11.2% |
| Earnings growth | 26.2% | 26.2% | -9.8% | 49.4% | 110.3% | -166.7% |
| Current ratio | 1.22x | 1.20x | 1.06x | 1.07x | 1.22x | 1.20x |
| Debt to equity | 0.89x | 0.99x | 0.73x | 0.75x | 0.66x | 1.02x |
| Equity ratio | 24.8% | 23.6% | 25.9% | 25.8% | 25.9% | 23.3% |
| Interest coverage | 6.96x | 8.24x | 5.95x | 10.16x | 10.79x | 5.27x |
| R&D as a share of sales | 0.7% | 1.0% | 1.1% | 1.0% | 1.1% | 1.3% |
| Buybacks as a share of market value | 1.9% | -0.1% | 0.2% | -0.5% | -2.2% | -1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.3% | 5.5% | 2.3% |
| Operating income | 2.5% | 11.6% | — |
| Net income | 12.8% | 35.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.7% | 12.5% | 12.0% | 12.3% |
| Operating margin | 6.1% | 5.5% | 5.2% | 4.0% |
| Net margin | 3.9% | 3.4% | 2.9% | 1.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.8 | 16.8 | 16.1 | 15.5 | 23.5 | 33.4 | -16.1 | 76.7 | 19.8 | 35.7 |
| Price to sales | 0.7 | 0.6 | 0.5 | 0.5 | 0.5 | 0.4 | 0.3 | 0.2 | 0.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 25 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.90 | 2.60 | 2.30 | 2.10 | 1.20 | 0.70 | 0.30 | 0.70 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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