N 
7.35
+5.30%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€19.89bn
FY2016FY2025
Net income
€629.0m
FY2016FY2025
Free cash flow
€1.47bn
FY2016FY2025
Shareholders' equity
€20.97bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €19.89bn | €19.22bn | €22.26bn | €24.91bn | €22.20bn | €21.87bn | €23.32bn | €22.56bn | €23.15bn | €23.61bn |
| Gross profit | €8.37bn | €8.86bn | €8.84bn | €10.22bn | €8.83bn | €8.21bn | €8.33bn | €8.45bn | €9.14bn | €8.46bn |
| Research and development | €4.62bn | €4.51bn | €4.33bn | €4.55bn | €4.21bn | €4.09bn | €4.41bn | €4.62bn | €4.92bn | €4.90bn |
| Operating income | €1.65bn | €2.00bn | €1.69bn | €2.32bn | €2.16bn | €918.0m | €814.0m | −€59.0m | €16.0m | −€1.11bn |
| Net income | €629.0m | €1.28bn | €665.0m | €4.25bn | €1.62bn | −€2.42bn | €18.0m | −€340.0m | −€1.49bn | −€766.0m |
| Diluted earnings per share | 0.11 | 0.23 | 0.12 | 0.75 | 0.28 | -0.43 | 0.00 | -0.06 | -0.27 | -0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €37.60bn | €39.15bn | €39.86bn | €42.94bn | €40.05bn | €36.28bn | €39.13bn | €39.53bn | €41.02bn | €44.90bn |
| Cash and short-term investments | €6.42bn | €8.91bn | €7.82bn | €9.16bn | €9.60bn | €8.28bn | €6.17bn | €7.12bn | €8.58bn | €9.62bn |
| Total liabilities | €16.54bn | €18.40bn | €19.23bn | €21.52bn | €22.59bn | €23.65bn | €23.73bn | €24.16bn | €24.81bn | €23.93bn |
| Debt | €4.41bn | €4.75bn | €5.19bn | €5.52bn | €5.66bn | €6.49bn | €5.31bn | €3.82bn | €4.03bn | €4.26bn |
| Shareholders' equity | €20.97bn | €20.66bn | €20.54bn | €21.33bn | €17.36bn | €12.56bn | €15.32bn | €15.29bn | €16.14bn | €20.09bn |
| Shares outstanding | 5,616m | 5,479m | 5,524m | 5,651m | 5,713m | 5,617m | 5,623m | 5,615m | 5,593m | 5,778m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €2.07bn | €2.49bn | €1.32bn | €1.47bn | €2.63bn | €1.76bn | €390.0m | €360.0m | €1.81bn | −€1.46bn |
| Capital spending | −€606.0m | −€472.0m | −€652.0m | −€601.0m | −€560.0m | −€479.0m | −€690.0m | −€672.0m | −€601.0m | −€477.0m |
| Free cash flow | €1.47bn | €2.02bn | €665.0m | €873.0m | €2.07bn | €1.28bn | −€300.0m | −€312.0m | €1.21bn | −€1.93bn |
| Dividends paid | −€753.0m | −€723.0m | −€611.0m | −€353.0m | −€9.0m | −€148.0m | −€560.0m | −€1.08bn | −€970.0m | −€1.51bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €4.82bn | €4.50bn | €6.13bn | €4.83bn | €4.55bn | €4.39bn | €5.98bn | €4.33bn |
| Gross profit | €2.17bn | €1.99bn | €2.75bn | €2.13bn | €1.97bn | €1.82bn | €5.98bn | €1.88bn |
| Operating income | €742.0m | €63.0m | €437.0m | €450.0m | €81.0m | −€48.0m | €917.0m | €278.0m |
| Net income | €2.0m | €86.0m | €532.0m | €323.0m | €90.0m | −€59.0m | €806.0m | €169.0m |
| Diluted earnings per share | 0.00 | 0.01 | 0.09 | 0.06 | 0.02 | -0.01 | 0.15 | 0.03 |
| Cash from operations | −€620.0m | €783.0m | €375.0m | €597.0m | €209.0m | €890.0m | €208.0m | €729.0m |
| Capital spending | −€129.0m | −€154.0m | −€148.0m | −€168.0m | −€121.0m | −€169.0m | −€158.0m | −€107.0m |
| Free cash flow | −€749.0m | €629.0m | €227.0m | €429.0m | €88.0m | €721.0m | €50.0m | €622.0m |
| Total assets | €37.28bn | €37.29bn | €37.60bn | €36.04bn | €36.03bn | €39.26bn | €39.15bn | €37.88bn |
| Cash and short-term investments | €5.13bn | €6.12bn | €6.42bn | €5.67bn | €6.08bn | €7.22bn | €8.91bn | €8.76bn |
| Debt | €2.60bn | €2.57bn | €4.62bn | €4.07bn | €4.10bn | €5.07bn | €4.75bn | €4.61bn |
| Shareholders' equity | €21.20bn | €21.18bn | €20.97bn | €19.58bn | €19.72bn | €20.73bn | €20.66bn | €20.35bn |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 42.1% | 46.1% | 39.7% | 41.0% | 39.8% | 37.6% |
| Operating margin | 8.3% | 10.4% | 7.6% | 9.3% | 9.7% | 4.2% |
| Net margin | 3.2% | 6.6% | 3.0% | 17.1% | 7.3% | -11.1% |
| Return on equity | 3.0% | 6.2% | 3.2% | 19.9% | 9.3% | -19.3% |
| Return on assets | 1.7% | 3.3% | 1.7% | 9.9% | 4.1% | -6.7% |
| Free cash flow yield | 5.0% | 5.6% | 3.7% | 3.8% | 5.8% | 4.1% |
| Revenue growth | 3.5% | -13.6% | -10.6% | 12.2% | 1.5% | -6.2% |
| Earnings growth | -50.7% | 92.0% | -84.4% | 161.9% | -167.0% | -13550.0% |
| Current ratio | 1.58x | 1.58x | 1.65x | 1.59x | 1.62x | 1.55x |
| Debt to equity | 0.17x | 0.20x | 0.21x | 0.22x | 0.28x | 0.46x |
| Equity ratio | 55.8% | 52.8% | 51.5% | 49.7% | 43.3% | 34.6% |
| Interest coverage | 6.56x | 6.00x | 4.73x | 10.44x | 9.07x | 3.91x |
| R&D as a share of sales | 23.2% | 23.5% | 19.4% | 18.3% | 19.0% | 18.7% |
| Buybacks as a share of market value | -2.5% | 0.8% | 2.3% | 1.1% | -1.7% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.2% | -1.9% | 4.8% |
| Operating income | -10.8% | 12.4% | -0.3% |
| Net income | -47.1% | — | -12.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 44.1% | 42.1% | 40.9% | 39.6% |
| Operating margin | 9.3% | 8.9% | 8.2% | 5.1% |
| Net margin | 4.9% | 7.9% | 4.6% | 2.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 49.8 | 18.3 | 25.4 | 5.8 | 19.6 | -7.3 | — | -83.1 | -14.6 | -34.6 |
| Price to sales | 1.6 | 1.2 | 0.8 | 1.0 | 1.4 | 0.8 | 0.8 | 1.3 | 0.9 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 27 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.11 | 0.17 | 0.19 | 0.11 | 0.06 | 0.10 | 0.36 | 0.16 |
- 4-for-1 split · 10 Apr 2000
- 2-for-1 split · 12 Apr 1999
- 2-for-1 split · 16 Apr 1998
- 4-for-1 split · 24 Apr 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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