N 
11.96
+1.79%
Close of 9 Nov 2026, in USD
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At a glance
Figures in EUR, from our data supplier.
Revenue
€3.51bn
FY2016FY2025
Net income
€158.2m
FY2016FY2025
Free cash flow
€291.9m
FY2016FY2025
Shareholders' equity
€2.89bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €3.51bn | €3.59bn | €3.52bn | €3.40bn | €3.02bn | €2.91bn | €2.69bn | €2.52bn | €2.26bn | €2.23bn |
| Gross profit | €952.7m | €1.06bn | €994.0m | €943.8m | €861.6m | €882.7m | €807.9m | €756.5m | €693.9m | €661.0m |
| Research and development | — | — | €23.7m | €21.9m | €23.1m | €19.0m | €21.8m | €17.9m | €17.8m | €15.4m |
| Operating income | €376.7m | €448.0m | €394.0m | €434.6m | €396.7m | €415.8m | €328.2m | €327.7m | €281.2m | €248.0m |
| Net income | €158.2m | €262.9m | €223.1m | €289.2m | €209.5m | €260.7m | €178.3m | €198.2m | €158.0m | €42.1m |
| Diluted earnings per share | 1.09 | 1.61 | 1.36 | 1.66 | 1.18 | 1.33 | 0.88 | 1.13 | 0.90 | 0.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €7.33bn | €7.45bn | €7.43bn | €7.32bn | €7.14bn | €6.46bn | €6.83bn | €6.18bn | €5.33bn | €5.45bn |
| Cash and short-term investments | €381.2m | €466.5m | €477.7m | €427.6m | €294.0m | €484.0m | €985.1m | €379.1m | €253.5m | €381.4m |
| Total liabilities | €4.44bn | €4.36bn | €4.43bn | €4.31bn | €4.48bn | €4.00bn | €3.88bn | €3.80bn | €3.18bn | €3.25bn |
| Debt | €2.58bn | €2.18bn | €2.15bn | €2.17bn | €2.23bn | €1.77bn | €1.88bn | €1.76bn | €1.40bn | €1.45bn |
| Shareholders' equity | €2.89bn | €3.08bn | €3.00bn | €3.02bn | €2.66bn | €2.46bn | €2.96bn | €2.38bn | €2.14bn | €2.20bn |
| Shares outstanding | 145m | 163m | 164m | 174m | 178m | 196m | 203m | 176m | 176m | 184m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €382.8m | €504.0m | €498.7m | €351.7m | €354.6m | €529.0m | €365.1m | €371.9m | €224.3m | €326.6m |
| Capital spending | −€90.9m | −€93.0m | −€95.4m | −€91.6m | −€91.7m | −€68.0m | −€54.8m | −€48.2m | −€49.3m | −€49.1m |
| Free cash flow | €291.9m | €411.1m | €403.3m | €260.1m | €262.9m | €461.1m | €310.3m | €323.8m | €175.0m | €277.5m |
| Dividends paid | −€105.7m | −€103.3m | — | — | — | −€58.1m | — | — | — | −€191.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €851.6m | €841.5m | €894.9m | €871.0m | €864.6m | €879.9m | €918.4m | €890.9m |
| Gross profit | €246.2m | €216.0m | €228.9m | €240.1m | €238.8m | €244.9m | €261.5m | €287.3m |
| Operating income | €119.6m | €78.4m | €81.6m | €108.4m | €101.3m | €85.4m | €105.9m | €141.7m |
| Net income | €57.1m | €34.0m | −€12.4m | €66.7m | €66.1m | €37.9m | €59.5m | €81.4m |
| Diluted earnings per share | 0.41 | 0.24 | -0.09 | 0.46 | 0.46 | 0.26 | 0.36 | 0.50 |
| Cash from operations | €52.0m | €32.0m | €181.0m | €62.0m | €80.0m | €58.0m | €262.0m | €112.0m |
| Capital spending | −€19.0m | −€24.0m | −€21.0m | −€26.0m | −€21.0m | −€21.0m | −€28.0m | −€18.0m |
| Free cash flow | €33.0m | €8.0m | €160.0m | €36.0m | €59.0m | €37.0m | €234.0m | €94.0m |
| Total assets | €7.38bn | €7.34bn | €7.33bn | €7.31bn | €7.38bn | €7.41bn | €7.45bn | €7.50bn |
| Cash and short-term investments | €316.4m | €327.0m | €381.2m | €224.1m | €308.6m | €381.8m | €466.5m | €387.1m |
| Debt | €39.0m | €2.66bn | €2.58bn | €2.44bn | €2.43bn | €2.49bn | €2.44bn | €2.47bn |
| Shareholders' equity | €2.91bn | €2.89bn | €2.89bn | €2.96bn | €2.97bn | €3.03bn | €3.08bn | €3.10bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 27.1% | 29.6% | 28.2% | 27.7% | 28.6% | 30.3% | — | — |
| Operating margin | 11.3% | 13.5% | 11.9% | 13.2% | 13.2% | 14.5% | — | — |
| Net margin | 4.5% | 7.3% | 6.3% | 8.5% | 6.9% | 9.0% | — | — |
| Return on equity | 5.5% | 8.5% | 7.4% | 9.6% | 7.9% | 10.6% | — | — |
| Return on assets | 2.2% | 3.5% | 3.0% | 3.9% | 2.9% | 4.0% | — | — |
| Free cash flow yield | 23.4% | 26.4% | 24.9% | 18.3% | 18.0% | 21.9% | — | — |
| Revenue growth | -2.2% | 1.8% | 3.6% | 12.8% | 3.6% | 8.2% | — | — |
| Earnings growth | -39.8% | 17.9% | -22.9% | 38.0% | -19.6% | 46.2% | — | — |
| Current ratio | 1.07x | 1.10x | 1.13x | 1.19x | 0.96x | 1.06x | — | — |
| Debt to equity | 0.89x | 0.79x | 0.81x | 0.81x | 0.97x | 0.81x | — | — |
| Equity ratio | 39.4% | 41.4% | 40.4% | 41.2% | 37.3% | 38.1% | — | — |
| Interest coverage | 1.74x | 3.00x | 3.31x | 5.83x | 3.23x | 5.32x | — | — |
| R&D as a share of sales | — | — | 0.7% | 0.6% | 0.8% | 0.7% | 0.8% | 0.7% |
| Buybacks as a share of market value | 10.6% | 5.2% | 1.8% | 2.1% | 8.9% | 3.7% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.0% | 3.8% | — |
| Operating income | -4.7% | -2.0% | — |
| Net income | -18.2% | -9.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.4% | 28.2% | 28.5% | — |
| Operating margin | 11.6% | 11.8% | 12.4% | — |
| Net margin | 5.9% | 6.7% | 7.0% | — |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | 11.5 |
| Price to sales | 0.5 |
Market value over time
30 Nov 2016 to 30 Oct 2026, in EUR
€1.73bn€1.69bn
Share price return
Finished calendar years
| 2025 | |
|---|---|
| Return | -23% |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 11 Aug 2026.
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Paid in the year | 0.462 | 0.68 | 0.60 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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