| Market Cap | €11.35B | |
| Enterprise Value | €11.49B | |
| Revenue | €1.89B | +22.5% |
| Gross Profit | €1.21B | +28.2% |
| EBITDA | €688.3M | +35.1% |
| Net Income | €500.3M | +51.7% |
| Diluted EPS | €3.56 | +51.5% |
| Free Cash Flow | €243.4M | +5.3% |
| DPS (FY2025) | €1.64 |
| Trailing yield | 2.03% |
| Payout ratio | 46.2% |
| Growth streak | 3 yrs |
| 5y DPS growth | 2.3% |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | €1.64 | +1.2% | reported |
| FY20242024-12-31 | €1.62 | +1.2% | reported |
| FY20232023-12-31 | €1.60 | +6.7% | reported |
| FY20222022-12-31 | €1.50 |
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 7y | vs own |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 60.27% | 60.39% | 57.01% | 63.52% | 55.29% | 61.36% | 64.20% | 93% | |
| Operating Margin | 24.05% | 25.98% | 23.37% | 32.79% | 23.11% | 27.01% | 33.43% | 93% | |
| EBITDA Margin | 29.39% | 31.22% | 27.77% | 36.33% | 27.44% | 33.03% | 36.43% | 93% | |
| NOPAT Margin | 19.21% | 20.53% | 18.69% | 26.03% | 18.42% | 21.57% | 26.64% | 93% | |
| Net Margin | 19.07% | 20.40% | 18.62% | 26.07% | 18.22% | 21.39% | 26.48% | 93% | |
| FCF Margin | 23.04% | 24.59% | 16.21% | 28.19% | 4.49% | 14.98% | 12.88% | 21% | |
| FCFF Margin | 23.23% | 24.74% | — | — | — | — | — | — | |
| FCFE Margin | — | 33.87% | — | 34.22% | 3.50% | 23.04% | 11.52% | 30% | |
| OCF Margin | 25.77% | 27.74% | 20.72% | 32.40% | 10.00% | 19.02% | 16.77% | 21% | |
| Gross Profitability | 61.16% | 58.35% | 53.28% | 56.64% | 45.72% | 58.09% | 60.35% | 79% | |
| Capex Intensity | 2.73% | 3.15% | 4.51% | 4.21% | 5.51% | 4.04% | 3.88% | 36% | |
| ▸Returns on Capital · 6 ratios | |||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||
| ▸Earnings quality · 7 ratios | |||||||||
| ▸Liquidity & coverage · 9 ratios | |||||||||
| ▸Leverage · 9 ratios | |||||||||
| ▸Working capital · 8 ratios | |||||||||
| ▸Capital allocation · 5 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
The five drivers multiply to 43.0% vs reported ROE 43.7%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | €1.05B | €1.08B | €1.04B | €1.34B | €1.19B | €1.54B | €1.89B |
| YoY % | +2.6% | -3.4% | +28.8% | -11.3% | +29.6% | +22.5% | |
| Cost of Revenue | €417.6M | €427.0M | €447.5M | €489.0M | €531.9M | €596.0M | €676.5M |
| YoY % | +2.3% | +4.8% | +9.3% | +8.8% | +12.1% | +13.5% | |
| Gross Profit | €633.4M | €651.0M | €593.5M | €851.6M | €657.7M | €946.4M | €1.21B |
| YoY % | +2.8% | -8.8% | +43.5% | -22.8% | +43.9% | +28.2% | |
| R&D Expense | €119.3M | €123.2M | €117.7M | €133.2M | €126.9M | €179.6M | €210.4M |
| YoY % | +3.3% | -4.5% | +13.2% | -4.7% | +41.5% | +17.1% | |
| Selling & Marketing Expense | €215.7M | €204.3M | €191.0M | €209.1M | €224.8M | €278.1M | €289.5M |
| YoY % | -5.3% | -6.5% | +9.5% | +7.5% | +23.7% | +4.1% | |
| SG&A Expense | €47.8M | €48.9M | €47.9M | €75.4M | €74.8M | €81.7M | €86.8M |
| YoY % | +2.3% | -2.0% | +57.4% | -0.8% | +9.2% | +6.2% | |
| Operating Income | €252.8M | €280.1M | €243.3M | €439.6M | €274.9M | €416.6M | €631.6M |
| YoY % | +10.8% | -13.1% | +80.7% | -37.5% | +51.5% | +51.6% | |
| Interest Expense | €2.6M | €2.0M | — | — | — | — | — |
| YoY % | -23.1% | ||||||
| Interest & Investment Income | €700,000 | €200,000 | — | — | — | — | — |
| YoY % | -71.4% | ||||||
| Pretax Income | €250.8M | €278.3M | €242.3M | €440.3M | €271.9M | €413.1M | €627.8M |
| YoY % | +11.0% | -12.9% | +81.7% | -38.2% | +51.9% | +52.0% | |
| Income Tax | €50.5M | €58.4M | €48.5M | €90.8M | €55.1M | €83.2M | €127.5M |
| YoY % | +15.6% | -17.0% | +87.2% | -39.3% | +51.0% | +53.2% | |
| Net Income (incl. NCI) | €200.4M | €219.9M | €193.8M | €349.5M | €216.8M | €329.9M | €500.3M |
| YoY % | +9.7% | -11.9% | +80.3% | -38.0% | +52.2% | +51.7% | |
| Net Income | €200.4M | €219.9M | €193.8M | €349.5M | €216.8M | €329.9M | €500.3M |
| YoY % | +9.7% | -11.9% | +80.3% | -38.0% | +52.2% | +51.7% | |
| EPS (Basic) | €1.43 | €1.56 | €1.38 | €2.49 | €1.54 | €2.35 | €3.56 |
| YoY % | +9.1% | -11.5% | +80.4% | -38.2% | +52.6% | +51.5% | |
| EPS (Diluted) | €1.43 | €1.56 | €1.38 | €2.49 | €1.54 | €2.35 | €3.56 |
| YoY % | +9.1% | -11.5% | +80.4% | -38.2% | +52.6% | +51.5% | |
| Dividends Declared per Share | — | — | €2 | €2 | €2 | €2 | €2 |
| YoY % | 0.0% | +6.7% | +1.2% | +1.2% |
Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
| reported |
| FY20212021-12-31 | €1.50 | — | reported |
| FY20202020-12-31 | — | — | reported |
| FY20192019-12-31 | — | — | reported |
