V 
28.82
-0.21%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€5.20bn
FY2016FY2025
Net income
€279.0m
FY2016FY2025
Free cash flow
€478.0m
FY2016FY2025
Shareholders' equity
€2.58bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €5.20bn | €5.36bn | €5.53bn | €5.07bn | €3.94bn | €3.74bn | €3.55bn | €3.33bn | €3.16bn | €2.93bn |
| Gross profit | €1.38bn | €1.48bn | €1.40bn | €1.22bn | €993.0m | €896.0m | €859.0m | €764.0m | €703.0m | €667.0m |
| Research and development | €121.0m | €123.0m | €114.0m | €95.0m | €82.0m | €75.0m | €71.0m | €62.0m | €60.0m | €59.0m |
| Operating income | €530.0m | €449.0m | €520.0m | €436.0m | €399.0m | €319.0m | €281.0m | €211.0m | €178.0m | €147.0m |
| Net income | €279.0m | €280.0m | €357.0m | €337.0m | €296.0m | €231.0m | €201.0m | €152.0m | €127.0m | €82.0m |
| Diluted earnings per share | 1.51 | 1.51 | 1.94 | 1.83 | 1.97 | 1.54 | 1.34 | 1.00 | 0.85 | 0.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €6.63bn | €6.83bn | €7.06bn | €6.27bn | €4.42bn | €3.96bn | €3.45bn | €2.99bn | €2.97bn | €2.96bn |
| Cash and short-term investments | €560.0m | €520.0m | €457.0m | €307.0m | €564.0m | €347.0m | €358.0m | €420.0m | €302.0m | €241.0m |
| Total liabilities | €4.04bn | €4.22bn | €4.49bn | €3.77bn | €3.09bn | €2.82bn | €2.41bn | €2.04bn | €2.04bn | €2.07bn |
| Debt | €1.46bn | €1.54bn | €1.48bn | €808.0m | €476.0m | €497.0m | €268.0m | €201.0m | €219.0m | €310.0m |
| Shareholders' equity | €2.58bn | €2.61bn | €2.56bn | €2.50bn | €1.33bn | €1.14bn | €1.04bn | €944.0m | €928.0m | €881.0m |
| Shares outstanding | 184m | 185m | 184m | 184m | 150m | 150m | 150m | 152m | 150m | 150m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €581.0m | €554.0m | €351.0m | €36.0m | €482.0m | €532.0m | €295.0m | €284.0m | €291.0m | €246.0m |
| Capital spending | −€103.0m | −€107.0m | −€125.0m | −€112.0m | −€97.0m | −€89.0m | −€79.0m | −€79.0m | −€66.0m | −€60.0m |
| Free cash flow | €478.0m | €447.0m | €226.0m | −€76.0m | €385.0m | €443.0m | €216.0m | €205.0m | €225.0m | €186.0m |
| Dividends paid | −€249.0m | −€249.0m | −€239.0m | −€179.0m | −€135.0m | −€120.0m | −€97.0m | −€82.0m | −€63.0m | −€52.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.31bn | €1.24bn | €1.48bn | €1.29bn | €1.24bn | €1.18bn | €1.53bn | €1.29bn |
| Gross profit | €359.0m | €310.0m | €357.0m | €327.0m | €351.0m | €341.0m | €419.0m | €364.0m |
| Operating income | €125.0m | €57.0m | €251.0m | €133.0m | €57.0m | €89.0m | €150.0m | €109.0m |
| Net income | €75.0m | €34.0m | €105.0m | €86.0m | €28.0m | €61.0m | €98.0m | €68.0m |
| Diluted earnings per share | 0.40 | 0.18 | 0.57 | 0.47 | 0.15 | 0.33 | 0.53 | 0.37 |
| Cash from operations | €65.0m | €35.0m | €190.0m | €94.0m | €79.0m | €217.0m | €178.0m | €110.0m |
| Capital spending | −€15.0m | −€17.0m | −€35.0m | −€20.0m | −€33.0m | −€24.0m | −€30.0m | −€16.0m |
| Free cash flow | €50.0m | €18.0m | €155.0m | €74.0m | €46.0m | €193.0m | €148.0m | €94.0m |
| Total assets | €6.73bn | €6.66bn | €6.63bn | €6.67bn | €6.74bn | €6.87bn | €6.83bn | €7.09bn |
| Cash and short-term investments | €620.0m | €597.0m | €560.0m | €508.0m | €505.0m | €664.0m | €520.0m | €700.0m |
| Debt | €1.46bn | €1.35bn | €1.51bn | €1.44bn | €1.50bn | €1.53bn | €1.54bn | €1.75bn |
| Shareholders' equity | €2.49bn | €2.41bn | €2.58bn | €2.46bn | €2.37bn | €2.42bn | €2.61bn | €2.47bn |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.5% | 27.6% | 25.2% | 24.0% | 25.2% | 24.0% |
| Operating margin | 8.3% | 8.9% | 9.4% | 8.7% | 10.2% | 8.6% |
| Net margin | 5.4% | 5.2% | 6.5% | 6.6% | 7.5% | 6.2% |
| Return on equity | 10.8% | 10.7% | 13.9% | 13.5% | 22.3% | 20.3% |
| Return on assets | 4.2% | 4.1% | 5.1% | 5.4% | 6.7% | 5.8% |
| Free cash flow yield | 13.9% | 13.4% | 9.7% | 3.0% | 14.4% | 15.5% |
| Revenue growth | -3.0% | -3.1% | 9.0% | 28.9% | 5.2% | 5.4% |
| Earnings growth | -0.4% | -21.6% | 5.9% | 13.9% | 28.1% | 14.9% |
| Current ratio | 1.22x | 1.25x | 1.24x | 1.05x | 0.92x | 0.96x |
| Debt to equity | 0.52x | 0.55x | 0.54x | 0.30x | 0.33x | 0.40x |
| Equity ratio | 39.0% | 38.2% | 36.3% | 39.8% | 30.0% | 28.7% |
| Interest coverage | 6.37x | 5.80x | 11.06x | 26.00x | 40.20x | 21.40x |
| R&D as a share of sales | 2.3% | 2.3% | 2.1% | 1.9% | 2.1% | 2.0% |
| Buybacks as a share of market value | 0.4% | -0.4% | 0.0% | -22.8% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | 6.8% | 5.9% |
| Operating income | 6.7% | 10.7% | 16.0% |
| Net income | -6.1% | 3.8% | 13.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.1% | 25.8% | 25.5% | 24.6% |
| Operating margin | 9.3% | 9.1% | 9.2% | 8.0% |
| Net margin | 5.3% | 5.9% | 6.2% | 5.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.7 | 15.4 | 13.5 | 13.8 | 19.1 | 15.2 | 15.9 | 18.0 | 19.4 | 25.6 |
| Price to sales | 1.0 | 0.8 | 0.9 | 0.9 | 1.4 | 0.9 | 0.9 | 0.8 | 0.8 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 30 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.35 | 1.35 | 1.35 | 1.30 | 1.20 | 0.90 | 0.80 | 0.65 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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