P 
26.96
+0.52%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€7.30bn
FY2016FY2025
Net income
−€645.5m
FY2016FY2025
Free cash flow
−€632.3m
FY2016FY2025
Shareholders' equity
€1.76bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €7.30bn | €8.82bn | €8.60bn | €8.47bn | €6.81bn | €5.23bn | €5.50bn | €4.65bn | €4.14bn | €3.63bn |
| Gross profit | €3.28bn | €4.18bn | €3.99bn | €3.90bn | €3.26bn | €2.46bn | €2.69bn | €2.25bn | €1.95bn | €1.66bn |
| Research and development | €83.6m | €92.0m | €89.0m | €82.2m | €61.7m | €56.6m | €61.7m | €54.0m | €53.4m | €52.0m |
| Operating income | −€423.2m | €622.0m | €621.6m | €640.6m | €557.1m | €209.2m | €440.2m | €337.4m | €244.6m | €127.6m |
| Net income | −€645.5m | €281.6m | €304.9m | €353.5m | €309.6m | €123.1m | €262.4m | €187.4m | €135.8m | €62.4m |
| Diluted earnings per share | -4.37 | 1.91 | 1.84 | 2.36 | 2.07 | 0.82 | 1.75 | 1.25 | 0.91 | 0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €6.45bn | €7.14bn | €6.64bn | €6.77bn | €5.73bn | €4.68bn | €4.38bn | €3.21bn | €2.85bn | €2.77bn |
| Cash and short-term investments | €290.0m | €537.0m | €552.9m | €484.7m | €787.7m | €685.2m | €549.5m | €502.3m | €458.2m | €361.9m |
| Total liabilities | €4.69bn | €4.31bn | €4.06bn | €4.23bn | €3.45bn | €2.92bn | €2.46bn | €1.49bn | €1.20bn | €1.04bn |
| Debt | €2.58bn | €1.72bn | €1.80bn | €1.57bn | €1.41bn | €1.21bn | €919.3m | €202.0m | €60.3m | €41.9m |
| Shareholders' equity | €1.76bn | €2.83bn | €2.55bn | €2.47bn | €2.21bn | €1.72bn | €1.87bn | €1.70bn | €1.63bn | €1.71bn |
| Shares outstanding | 148m | 148m | 166m | 150m | 150m | 149m | 150m | 150m | 149m | 150m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€426.0m | €694.8m | €653.6m | €418.3m | €460.1m | €421.5m | €548.8m | €278.1m | €227.2m | €131.1m |
| Capital spending | −€206.3m | −€263.0m | −€300.4m | −€263.6m | −€202.4m | −€151.0m | −€218.4m | −€130.2m | −€122.9m | −€84.3m |
| Free cash flow | −€632.3m | €431.8m | €353.2m | €154.7m | €257.7m | €270.5m | €330.4m | €147.9m | €104.3m | €46.8m |
| Dividends paid | −€89.8m | −€122.8m | −€122.8m | −€107.7m | −€23.9m | −€23.9m | −€52.3m | −€186.8m | −€11.2m | −€7.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.69bn | €1.86bn | €1.32bn | €2.04bn | €1.94bn | €2.08bn | €2.29bn | €2.31bn |
| Gross profit | €812.3m | €889.0m | €525.0m | €921.8m | €894.7m | €975.1m | €1.08bn | €1.43bn |
| Operating income | −€60.3m | €51.9m | −€346.5m | €43.7m | −€97.8m | €57.7m | €108.8m | €237.0m |
| Net income | −€72.8m | €26.5m | −€336.6m | −€62.4m | −€247.0m | €500,000 | €24.5m | €127.8m |
| Diluted earnings per share | -0.49 | 0.18 | -2.28 | -0.42 | -1.67 | 0.00 | 0.17 | 0.87 |
| Cash from operations | — | — | −€319.0m | — | −€524.0m | — | €694.0m | — |
| Capital spending | — | — | −€206.0m | — | −€104.0m | — | −€263.0m | — |
| Free cash flow | — | — | −€525.0m | — | −€628.0m | — | €431.0m | — |
| Total assets | €6.36bn | €6.59bn | €6.45bn | €6.95bn | €7.06bn | €7.40bn | €7.14bn | €6.88bn |
| Cash and short-term investments | €372.5m | €326.2m | €290.0m | €265.0m | €292.6m | €283.9m | €537.0m | €251.5m |
| Debt | €1.69bn | €1.90bn | €2.80bn | €2.71bn | €2.58bn | €2.59bn | €1.72bn | €2.19bn |
| Shareholders' equity | €1.83bn | €1.87bn | €1.76bn | €2.06bn | €2.09bn | €2.65bn | €2.83bn | €2.61bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 44.9% | 47.4% | 46.3% | 46.1% | 47.9% | 47.0% |
| Operating margin | -5.6% | 6.7% | 6.8% | 7.3% | 8.1% | 3.9% |
| Net margin | -8.8% | 3.2% | 3.5% | 4.2% | 4.5% | 2.4% |
| Return on equity | -36.7% | 10.0% | 11.9% | 14.3% | 14.0% | 7.1% |
| Return on assets | -10.0% | 3.9% | 4.6% | 5.2% | 5.4% | 2.6% |
| Free cash flow yield | -6.0% | 26.0% | 23.1% | 18.2% | 17.7% | 15.3% |
| Revenue growth | -17.3% | 2.5% | 1.6% | 24.4% | 30.0% | -4.9% |
| Earnings growth | -329.2% | -7.6% | -13.7% | 14.2% | 151.5% | -53.1% |
| Current ratio | 1.18x | 1.50x | 1.55x | 1.48x | 1.61x | 1.40x |
| Debt to equity | 0.89x | 0.25x | 0.31x | 0.22x | 0.25x | 0.18x |
| Equity ratio | 27.3% | 39.6% | 38.5% | 36.5% | 38.6% | 36.8% |
| Interest coverage | -2.47x | 4.60x | 5.78x | 5.01x | 12.38x | 2.64x |
| R&D as a share of sales | 1.1% | 1.0% | 1.0% | 1.0% | 0.9% | 1.1% |
| Buybacks as a share of market value | 0.1% | 10.8% | -10.5% | 0.0% | -0.2% | 0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.8% | 6.9% | 8.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 46.3% | 46.3% | 46.6% | 46.8% |
| Operating margin | 1.2% | 4.4% | 4.9% | 5.2% |
| Net margin | -2.3% | 0.9% | 1.6% | 2.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.1 | 23.3 | 27.4 | 24.0 | 52.0 | 112.0 | 39.1 | 34.1 | 39.9 | 59.9 |
| Price to sales | 0.5 | 0.7 | 1.0 | 1.0 | 2.4 | 2.6 | 1.9 | 1.4 | 1.3 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 22 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.61 | 0.82 | 0.82 | 0.72 | 0.16 | 0.35 | 1.25 | 0.075 |
- 10-for-1 split · 10 Jun 2019
- 1-to-1 reverse split · 9 Jul 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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