S 
196.40
-0.25%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€5.65bn
FY2016FY2025
Net income
€296.8m
FY2016FY2025
Free cash flow
€491.3m
FY2016FY2025
Shareholders' equity
€2.09bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €5.65bn | €5.78bn | €5.81bn | €5.10bn | €4.68bn | €4.26bn | €4.43bn | €4.10bn | €3.83bn | €3.74bn |
| Research and development | — | — | €122.0m | €114.0m | €137.0m | €130.5m | €109.3m | €104.9m | €102.2m | €111.2m |
| Operating income | €487.0m | €460.3m | €329.9m | €377.4m | €322.5m | €254.3m | €303.8m | €248.6m | €269.9m | €253.0m |
| Net income | €296.8m | €250.9m | €183.7m | €247.8m | €187.7m | €106.8m | €160.3m | €125.1m | €172.5m | €150.4m |
| Diluted earnings per share | 15.23 | 12.43 | 8.83 | 12.05 | 9.12 | 5.26 | 7.86 | 6.15 | 8.49 | 7.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €5.67bn | €5.64bn | €6.07bn | €4.95bn | €4.77bn | €4.54bn | €4.55bn | €3.99bn | €3.80bn | €3.88bn |
| Cash and short-term investments | €511.8m | €423.4m | €191.7m | €355.9m | €217.2m | €245.5m | €197.5m | €170.3m | €162.4m | €265.4m |
| Total liabilities | €3.53bn | €3.66bn | €4.15bn | €3.05bn | €3.08bn | €3.09bn | €3.12bn | €2.66bn | €2.57bn | €2.78bn |
| Debt | €857.7m | €1.23bn | €1.64bn | €898.3m | €909.0m | €988.6m | €1.05bn | €791.2m | €672.5m | €771.4m |
| Shareholders' equity | €2.09bn | €1.93bn | €1.88bn | €1.85bn | €1.65bn | €1.40bn | €1.37bn | €1.30bn | €1.21bn | €1.07bn |
| Shares outstanding | 19m | 20m | 21m | 21m | 21m | 20m | 20m | 20m | 20m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €525.7m | €656.4m | €622.6m | €503.6m | €463.3m | €392.3m | €422.9m | €229.2m | €237.6m | €224.5m |
| Capital spending | −€34.4m | −€74.8m | −€100.6m | −€94.2m | −€54.6m | −€53.6m | −€49.8m | −€61.9m | −€45.4m | −€40.1m |
| Free cash flow | €491.3m | €581.6m | €522.0m | €409.4m | €408.7m | €338.7m | €373.1m | €167.3m | €192.2m | €184.4m |
| Dividends paid | −€90.2m | −€93.9m | −€87.5m | −€65.0m | −€40.7m | −€46.3m | −€37.6m | −€48.7m | −€44.5m | −€34.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.96bn | €2.80bn | €2.84bn | €2.83bn | €2.95bn | €2.97bn | €2.84bn | €1.42bn |
| Operating income | €263.8m | €271.7m | €215.3m | €263.8m | €229.7m | €259.3m | €207.8m | €95.4m |
| Net income | €146.3m | €154.8m | €142.0m | €127.7m | €123.2m | €71.2m | €112.5m | €61.0m |
| Diluted earnings per share | 7.62 | 7.94 | 7.29 | 6.33 | 6.10 | 3.42 | 5.41 | 2.99 |
| Cash from operations | — | €577.0m | −€51.0m | €484.0m | €138.0m | €377.0m | €227.0m | — |
| Capital spending | — | −€1.0m | −€32.0m | −€3.0m | −€40.0m | −€53.0m | −€47.0m | — |
| Free cash flow | — | €576.0m | −€83.0m | €481.0m | €98.0m | €324.0m | €180.0m | — |
| Total assets | — | €5.67bn | €5.62bn | €5.64bn | €6.19bn | €6.07bn | €5.72bn | €5.72bn |
| Cash and short-term investments | — | €511.8m | €146.7m | €423.4m | €138.0m | €191.7m | €271.0m | €271.0m |
| Debt | — | €857.7m | €953.8m | €910.6m | €1.30bn | €1.25bn | €919.1m | €622.4m |
| Shareholders' equity | — | €2.09bn | €1.97bn | €1.93bn | €1.95bn | €1.88bn | €1.79bn | €1.84bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 8.6% | 8.4% | 5.8% | 7.2% | 6.5% | 4.6% | — | — |
| Net margin | 5.3% | 4.3% | 3.2% | 4.9% | 4.0% | 2.5% | — | — |
| Return on equity | 14.2% | 13.0% | 9.8% | 13.4% | 11.4% | 7.6% | — | — |
| Return on assets | 5.2% | 4.4% | 3.0% | 5.0% | 3.9% | 2.4% | — | — |
| Free cash flow yield | 15.5% | 19.5% | 18.7% | 15.6% | 13.5% | 11.8% | — | — |
| Revenue growth | -2.2% | -0.5% | 13.8% | 8.9% | 9.9% | -3.9% | — | — |
| Earnings growth | 18.3% | 36.6% | -25.9% | 32.0% | 75.7% | -33.4% | — | — |
| Current ratio | 0.93x | 0.90x | 0.76x | 0.89x | 0.89x | 0.96x | — | — |
| Debt to equity | 0.41x | 0.47x | 0.66x | 0.32x | 0.38x | 0.45x | — | — |
| Equity ratio | 36.8% | 34.2% | 30.9% | 37.4% | 34.5% | 30.8% | — | — |
| Interest coverage | 11.09x | 7.44x | 8.65x | 20.06x | 16.09x | 10.22x | — | — |
| R&D as a share of sales | — | — | 2.1% | 2.2% | 2.9% | 3.1% | 2.5% | 2.6% |
| Buybacks as a share of market value | 3.4% | 2.9% | -1.2% | 0.1% | -1.3% | 0.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.5% | 5.8% | 4.7% |
| Operating income | 8.9% | 13.9% | 8.7% |
| Net income | 6.2% | 22.7% | 13.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.3% | 7.4% | 7.1% | 6.9% |
| Net margin | 4.8% | 4.4% | 4.1% | 3.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.2 | 13.8 | 22.4 | 11.7 | 17.3 | 25.1 | 18.3 | 13.1 | 18.4 | 14.4 |
| Price to sales | 0.5 | 0.6 | 0.7 | 0.6 | 0.7 | 0.6 | 0.7 | 0.4 | 0.8 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 2 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 5.30 | 4.65 | 4.65 | 4.30 | 3.20 | 2.00 | 1.85 | 2.40 |
- 5-for-1 split · 1 Mar 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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