25.09
+2.32%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue, before interest expense
€13.59bn
FY2016FY2025
Net income
€2.21bn
FY2016FY2025
Total assets
€290.32bn
FY2016FY2025
Shareholders' equity
€13.84bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €13.59bn | €12.93bn | €20.14bn | €31.81bn | €31.64bn | €29.86bn | €32.64bn | €29.49bn | €33.36bn | €28.63bn |
| Operating income | €3.57bn | €2.56bn | €3.06bn | €2.29bn | €1.85bn | €1.52bn | €1.77bn | €1.50bn | €1.12bn | €1.04bn |
| Net income | €2.21bn | €1.99bn | €1.92bn | €1.51bn | €1.58bn | €1.21bn | €1.34bn | €1.40bn | €689.0m | €622.0m |
| Diluted earnings per share | 1.71 | 1.54 | 1.48 | 1.16 | 1.21 | 0.93 | 1.03 | 1.07 | 0.53 | 0.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €290.32bn | €277.10bn | €270.83bn | €261.63bn | €284.73bn | €272.36bn | €238.25bn | €208.88bn | €202.67bn | €193.21bn |
| Cash and short-term investments | €42.90bn | €43.24bn | €28.03bn | €44.78bn | €37.80bn | €39.20bn | €31.18bn | €26.25bn | €13.13bn | €16.84bn |
| Total liabilities | €276.33bn | €265.39bn | €261.19bn | €252.69bn | €272.62bn | €260.85bn | €228.55bn | €200.78bn | €195.12bn | €185.07bn |
| Debt | €76.62bn | €94.08bn | €89.17bn | €85.91bn | €104.73bn | €80.51bn | €65.80bn | €59.38bn | €56.88bn | €54.92bn |
| Shareholders' equity | €13.84bn | €11.58bn | €9.52bn | €8.89bn | €12.10bn | €11.50bn | €9.70bn | €8.11bn | €7.55bn | €8.13bn |
| Shares outstanding | 1,294m | 1,295m | 1,295m | 1,299m | 1,306m | 1,299m | 1,301m | 1,305m | 1,305m | 1,301m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | €7.48bn | €4.29bn | €3.63bn | €3.28bn | €3.34bn | €3.34bn | €3.48bn | €3.14bn |
| Operating income | €1.03bn | €904.0m | €709.0m | €836.0m | €921.0m | €777.0m | €335.0m | €770.0m |
| Net income | €532.0m | €812.0m | €458.0m | €597.0m | €566.0m | €592.0m | €413.0m | €565.0m |
| Diluted earnings per share | 0.41 | 0.63 | 0.35 | 0.46 | 0.44 | 0.46 | 0.32 | 0.44 |
| Total assets | €293.72bn | €287.88bn | €290.32bn | €285.13bn | €285.13bn | €278.67bn | €277.10bn | €275.96bn |
| Cash and short-term investments | — | — | €42.90bn | — | €45.47bn | — | €43.24bn | €43.24bn |
| Debt | — | — | €76.62bn | — | €78.07bn | — | €70.33bn | €74.34bn |
| Shareholders' equity | €13.63bn | €13.50bn | €13.84bn | €13.24bn | €12.71bn | €12.02bn | €11.58bn | €11.92bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.3% | 18.9% | 15.2% | 7.2% | 5.8% | 5.1% |
| Net margin | 10.5% | 14.8% | 9.5% | 5.0% | 5.0% | 4.0% |
| Return on equity | 16.0% | 17.2% | 18.6% | 17.7% | 13.0% | 10.5% |
| Return on assets | 0.8% | 0.7% | 0.7% | 0.6% | 0.6% | 0.4% |
| Revenue growth | 56.2% | -33.1% | -36.7% | 0.5% | 5.9% | -8.5% |
| Earnings growth | 11.0% | 3.7% | 21.8% | 0.0% | 30.7% | -10.1% |
| Current ratio | 0.50x | 0.54x | 0.51x | 0.52x | 0.51x | 0.53x |
| Debt to equity | 0.69x | 1.54x | 1.01x | 1.38x | 1.31x | 1.49x |
| Equity ratio | 4.8% | 4.2% | 3.8% | 3.4% | 4.3% | 4.2% |
| Interest coverage | 15.64x | 5.44x | 78.38x | 46.76x | 9.61x | 31.85x |
| Buybacks as a share of market value | -0.2% | 0.1% | 0.2% | 0.5% | -0.5% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -24.7% | -14.6% | -6.6% |
| Operating income | 15.9% | 18.6% | 15.0% |
| Net income | 13.7% | 12.9% | 14.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 23.1% | 14.6% | 10.6% | 7.3% |
| Net margin | 15.9% | 9.7% | 7.4% | 5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.6 | 8.8 | 6.9 | 7.9 | 9.6 | 8.9 | 9.8 | 6.5 | 11.9 | 13.2 |
| Price to sales | 2.0 | 1.4 | 0.7 | 0.4 | 0.5 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 22 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.85 | 1.15 | 0.893 | 0.677 | 0.615 | 0.509 | 0.471 | 0.595 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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