23.72
+2.51%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€9.70bn
FY2016FY2025
Net income
€295.0m
FY2016FY2025
Free cash flow
−€759.0m
FY2016FY2025
Shareholders' equity
€5.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €9.70bn | €8.98bn | €7.69bn | €11.25bn | €5.71bn | €4.65bn | €4.93bn | €4.74bn | €4.94bn | €5.22bn |
| Operating income | €1.65bn | €1.42bn | €1.51bn | €2.35bn | €133.4m | €44.7m | €210.8m | −€318.8m | €271.6m | €436.2m |
| Net income | €295.0m | €151.8m | €428.3m | −€19.0m | −€18.4m | €19.4m | −€1.69bn | −€903.9m | €237.7m | €67.5m |
| Diluted earnings per share | 0.80 | 0.42 | 1.18 | -0.05 | -0.05 | 0.08 | -7.27 | -3.90 | 1.02 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €28.46bn | €27.32bn | €23.85bn | €19.53bn | €17.78bn | €13.69bn | €13.57bn | €14.11bn | €15.36bn | €17.14bn |
| Cash and short-term investments | €2.46bn | €2.00bn | €2.60bn | €3.16bn | €2.90bn | €815.6m | €286.9m | €198.6m | €251.6m | €207.0m |
| Total liabilities | €22.32bn | €21.28bn | €18.49bn | €14.85bn | €12.70bn | €10.60bn | €10.53bn | €10.17bn | €9.75bn | €11.19bn |
| Debt | €8.95bn | €7.48bn | €6.06bn | €5.07bn | €5.22bn | €4.27bn | €4.01bn | €3.95bn | €4.27bn | €4.61bn |
| Shareholders' equity | €5.16bn | €5.05bn | €4.54bn | €4.07bn | €5.08bn | €3.08bn | €3.04bn | €3.94bn | €5.61bn | €5.95bn |
| Shares outstanding | 369m | 362m | 364m | 380m | 382m | 232m | 232m | 232m | 232m | 232m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.54bn | €1.68bn | €1.51bn | €151.0m | €695.0m | €884.4m | €623.1m | €1.09bn | €176.8m | €1.19bn |
| Capital spending | −€2.30bn | −€1.88bn | −€1.17bn | −€686.2m | −€680.1m | −€401.7m | −€525.2m | −€865.4m | −€427.5m | −€727.5m |
| Free cash flow | −€759.0m | −€196.5m | €337.7m | −€535.2m | €14.8m | €482.7m | €97.9m | €222.5m | −€250.7m | €463.2m |
| Dividends paid | −€167.0m | −€154.9m | −€62.5m | −€41.6m | −€12,000 | −€1,000 | −€4,000 | −€4,000 | −€46,000 | −€86,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.21bn | €2.34bn | €2.43bn | €2.62bn | €2.18bn | €2.46bn | €2.40bn | €2.56bn |
| Operating income | −€784,000 | €800.0m | €587.0m | €793.8m | €1.08bn | €1.09bn | €899.8m | €826.5m |
| Net income | €117.9m | €198.0m | −€42.0m | €210.6m | €92.0m | €34.0m | €29.8m | −€2.9m |
| Diluted earnings per share | 0.23 | 0.39 | -0.11 | 0.57 | 0.25 | 0.09 | 0.08 | -0.01 |
| Cash from operations | €636.0m | €188.0m | €1.01bn | €83.0m | €128.0m | €476.0m | €1.21bn | −€135.0m |
| Capital spending | −€693.0m | −€434.0m | −€681.0m | −€542.0m | −€598.0m | −€476.0m | −€691.0m | −€474.0m |
| Free cash flow | −€57.0m | −€246.0m | €326.0m | −€459.0m | −€470.0m | €0 | €517.0m | −€609.0m |
| Total assets | €33.18bn | €28.38bn | €28.46bn | €27.43bn | €27.41bn | €27.54bn | €27.32bn | €23.48bn |
| Cash and short-term investments | €6.75bn | €2.16bn | €2.46bn | €1.83bn | €1.80bn | €2.76bn | €2.00bn | €1.64bn |
| Debt | €9.11bn | €864.0m | €8.49bn | €1.87bn | €7.86bn | €1.91bn | €7.21bn | €1.34bn |
| Shareholders' equity | €9.38bn | €5.37bn | €5.16bn | €5.25bn | €5.04bn | €5.08bn | €5.05bn | €4.41bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 8.9% | 6.7% | 12.5% | 6.7% | 1.2% | 3.8% | — | — | — |
| Net margin | 3.0% | 1.7% | 5.6% | -0.2% | -0.3% | 0.8% | — | — | — |
| Return on equity | 5.7% | 3.0% | 9.4% | -0.5% | -0.4% | 1.1% | — | — | — |
| Return on assets | 1.0% | 0.6% | 1.8% | -0.1% | -0.1% | 0.3% | — | — | — |
| Free cash flow yield | — | — | 30.9% | 9.7% | 15.9% | — | 36.4% | 21.0% | 34.0% |
| Revenue growth | 8.0% | 16.8% | -31.7% | 97.2% | 22.7% | -5.7% | — | — | — |
| Earnings growth | 94.4% | -64.6% | -2354.0% | 3.3% | -152.3% | -102.1% | — | — | — |
| Current ratio | 1.08x | 1.05x | 1.10x | 1.38x | 1.40x | 0.86x | — | — | — |
| Debt to equity | 1.50x | 1.24x | 1.30x | 1.12x | 0.93x | 1.32x | — | — | — |
| Equity ratio | 18.1% | 18.5% | 19.0% | 20.9% | 28.6% | 22.5% | — | — | — |
| Interest coverage | 2.08x | 1.52x | 2.28x | 2.91x | 0.35x | 1.22x | — | — | — |
| Buybacks as a share of market value | — | — | -0.5% | 0.5% | -64.7% | — | 0.0% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.8% | 15.8% | 5.4% |
| Operating income | -11.1% | 105.9% | 27.5% |
| Net income | — | 72.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 16.5% | 18.4% | 14.8% | 10.7% |
| Net margin | 2.4% | 2.3% | 1.8% | -2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.5 | 29.5 | 9.5 | -131.1 | -195.1 | 88.7 | -0.6 | -0.3 | 1.9 | 5.9 |
| Price to sales | 0.7 | 0.5 | 0.5 | 0.2 | 0.6 | 0.4 | 0.2 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 20 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2015 | FY2013 | FY2011 | FY2010 | FY2008 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.60 | 0.40 | 0.52 | 0.05 | 0.025 | 0.79 | 1.00 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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