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Galapagos NV
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Quick analysis of Galapagos NV (30 sec.)










1. Valuation of Galapagos NV (5 min.)




Current price per share

€38.84

2. Growth of Galapagos NV (5 min.)




Is Galapagos NV growing?

Current yearPrevious yearGrowGrow %
How rich?$2.7b$2.8b-$31m-1.1%

How much money is Galapagos NV making?

Current yearPrevious yearGrowGrow %
Making money-$58.3m-$27.6m-$30.7m?
Net Profit Margin-56.4%-32.2%--

How much money comes from the company's main activities?

3. Financial Health of Galapagos NV (5 min.)




4. Comparing to competitors in the Biotechnology industry (5 min.)




  Industry Rankings (Biotechnology)  


Richest
#28 / 1215

Most Revenue
#72 / 1215

Most Profit
#1092 / 1215

Most Efficient
#668 / 1215


Fundamentals of Galapagos NV

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very inefficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

1.1. Profitability of Galapagos NV.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Galapagos NV earns for each €1 of revenue.

  • Above 10% is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • A Net Profit Margin of -217.8% means that €-2.18 for each €1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Galapagos NV:

  • The MRQ is -217.8%. The company is making a huge loss. -2
  • The TTM is -56.4%. The company is making a huge loss. -2
Trends
Current periodCompared to+/- 
MRQ-217.8%TTM-56.4%-161.4%
TTM-56.4%YOY-32.2%-24.2%
TTM-56.4%5Y-46.8%-9.6%
5Y-46.8%10Y-24.4%-22.4%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ-217.8%-193.4%-24.4%
TTM-56.4%-273.6%+217.2%
YOY-32.2%-315.2%+283.0%
5Y-46.8%-539.0%+492.2%
10Y-24.4%-664.9%+640.5%
1.1.2. Return on Assets

Shows how efficient Galapagos NV is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • -4.4% Return on Assets means that Galapagos NV generated €-0.04 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Galapagos NV:

  • The MRQ is -4.4%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is -1.1%. Using its assets, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-4.4%TTM-1.1%-3.2%
TTM-1.1%YOY-0.5%-0.7%
TTM-1.1%5Y-0.9%-0.3%
5Y-0.9%10Y-0.5%-0.4%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ-4.4%-12.3%+7.9%
TTM-1.1%-12.4%+11.3%
YOY-0.5%-10.9%+10.4%
5Y-0.9%-15.3%+14.4%
10Y-0.5%-17.6%+17.1%
1.1.3. Return on Equity

Shows how efficient Galapagos NV is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • -8.2% Return on Equity means Galapagos NV generated €-0.08 for each €1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Galapagos NV:

  • The MRQ is -8.2%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is -2.2%. Using its investors money, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-8.2%TTM-2.2%-6.0%
TTM-2.2%YOY-1.0%-1.2%
TTM-2.2%5Y-1.3%-0.9%
5Y-1.3%10Y-0.7%-0.6%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ-8.2%-15.2%+7.0%
TTM-2.2%-15.5%+13.3%
YOY-1.0%-13.1%+12.1%
5Y-1.3%-20.4%+19.1%
10Y-0.7%-20.9%+20.2%

1.2. Operating Efficiency of Galapagos NV.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Galapagos NV is operating .

  • Measures how much profit Galapagos NV makes for each €1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • An Operating Margin of 0.0% means the company generated €0.00  for each €1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Galapagos NV:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-24.6%+24.6%
TTM-24.6%YOY-47.1%+22.4%
TTM-24.6%5Y-41.7%+17.1%
5Y-41.7%10Y-26.4%-15.3%
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ--316.7%+316.7%
TTM-24.6%-267.4%+242.8%
YOY-47.1%-333.8%+286.7%
5Y-41.7%-517.0%+475.3%
10Y-26.4%-624.7%+598.3%
1.2.2. Operating Ratio

Measures how efficient Galapagos NV is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Biotechnology industry mean).
  • An Operation Ratio of 2.44 means that the operating costs are €2.44 for each €1 in net sales.

Let's take a look of the Operating Ratio trends of Galapagos NV:

  • The MRQ is 2.436. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.620. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ2.436TTM1.620+0.816
TTM1.620YOY1.488+0.132
TTM1.6205Y1.971-0.351
5Y1.97110Y1.701+0.271
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ2.4362.989-0.553
TTM1.6203.644-2.024
YOY1.4884.537-3.049
5Y1.9716.411-4.440
10Y1.7018.312-6.611

1.3. Liquidity of Galapagos NV.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Galapagos NV is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Biotechnology industry mean).
  • A Current Ratio of 8.11 means the company has €8.11 in assets for each €1 in short-term debts.

Let's take a look of the Current Ratio trends of Galapagos NV:

  • The MRQ is 8.108. The company is very able to pay all its short-term debts. +2
  • The TTM is 8.291. The company is very able to pay all its short-term debts. +2
Trends
Current periodCompared to+/- 
MRQ8.108TTM8.291-0.183
TTM8.291YOY8.740-0.449
TTM8.2915Y7.837+0.454
5Y7.83710Y5.104+2.733
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ8.1084.559+3.549
TTM8.2914.993+3.298
YOY8.7406.149+2.591
5Y7.8376.306+1.531
10Y5.1046.588-1.484
1.3.2. Quick Ratio

Measures if Galapagos NV is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • A Quick Ratio of 6.92 means the company can pay off €6.92 for each €1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Galapagos NV:

  • The MRQ is 6.917. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 6.624. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ6.917TTM6.624+0.292
TTM6.624YOY4.293+2.331
TTM6.6245Y5.777+0.847
5Y5.77710Y3.071+2.706
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ6.9173.874+3.043
TTM6.6244.499+2.125
YOY4.2935.772-1.479
5Y5.7775.816-0.039
10Y3.0716.032-2.961

1.4. Solvency of Galapagos NV.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Galapagos NV assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Galapagos NV to Biotechnology industry mean.
  • A Debt to Asset Ratio of 0.47 means that Galapagos NV assets are financed with 46.6% credit (debt) and the remaining percentage (100% - 46.6%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Galapagos NV:

  • The MRQ is 0.466. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.470. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.466TTM0.470-0.004
TTM0.470YOY0.507-0.037
TTM0.4705Y0.416+0.054
5Y0.41610Y0.347+0.069
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4660.311+0.155
TTM0.4700.298+0.172
YOY0.5070.269+0.238
5Y0.4160.377+0.039
10Y0.3470.409-0.062
1.4.2. Debt to Equity Ratio

Measures if Galapagos NV is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Galapagos NV to the Biotechnology industry mean.
  • A Debt to Equity ratio of 87.4% means that company has €0.87 debt for each €1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Galapagos NV:

  • The MRQ is 0.874. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.888. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.874TTM0.888-0.014
TTM0.888YOY1.030-0.141
TTM0.8885Y0.805+0.083
5Y0.80510Y0.607+0.198
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ0.8740.363+0.511
TTM0.8880.362+0.526
YOY1.0300.277+0.753
5Y0.8050.425+0.380
10Y0.6070.463+0.144

2. Market Valuation of Galapagos NV

2. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every €1 in earnings Galapagos NV generates.

  • Above 15 is considered overpriced but always compare Galapagos NV to the Biotechnology industry mean.
  • A PE ratio of -13.15 means the investor is paying €-13.15 for every €1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Galapagos NV:

  • The EOD is -12.352. Company is losing money. -2
  • The MRQ is -13.150. Company is losing money. -2
  • The TTM is -85.325. Company is losing money. -2
Trends
Current periodCompared to+/- 
EOD-12.352MRQ-13.150+0.798
MRQ-13.150TTM-85.325+72.174
TTM-85.325YOY139.467-224.791
TTM-85.3255Y18.733-104.058
5Y18.73310Y-8.164+26.897
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD-12.352-6.478-5.874
MRQ-13.150-7.165-5.985
TTM-85.325-8.420-76.905
YOY139.467-19.867+159.334
5Y18.733-18.328+37.061
10Y-8.164-18.055+9.891
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Galapagos NV.

  • Lower is better.
  • A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of Galapagos NV:

  • The MRQ is 1.368. Seems overpriced? -1
  • The TTM is 16.150. Seems overpriced? -1
Trends
Current periodCompared to+/- 
MRQ1.368TTM16.150-14.782
TTM16.150YOY128.989-112.839
TTM16.1505Y68.347-52.197
5Y68.34710Y103.764-35.417
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
MRQ1.368-4.292+5.660
TTM16.150-6.108+22.258
YOY128.989-13.925+142.914
5Y68.347-12.525+80.872
10Y103.764-11.713+115.477

2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Galapagos NV is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Biotechnology industry mean).
  • A PB ratio of 1.08 means the investor is paying €1.08 for each €1 in book value.

Let's take a look of the Price to Book Ratio trends of Galapagos NV:

  • The EOD is 1.013. Good. +1
  • The MRQ is 1.079. Good. +1
  • The TTM is 1.219. Good. +1
Trends
Current periodCompared to+/- 
EOD1.013MRQ1.079-0.065
MRQ1.079TTM1.219-0.140
TTM1.219YOY1.356-0.137
TTM1.2195Y3.273-2.054
5Y3.27310Y4.487-1.214
Compared to industry (Biotechnology)
PeriodCompanyIndustry (mean)+/- 
EOD1.0131.890-0.877
MRQ1.0792.024-0.945
TTM1.2192.335-1.116
YOY1.3563.965-2.609
5Y3.2733.738-0.465
10Y4.4874.002+0.485
2. Total Gains per Share

2.4. Latest News of Galapagos NV

Does Galapagos NV still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Galapagos NV to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2023-06-05
22:01
Galapagos to showcase CAR-T point-of-care manufacturing and initial Phase 1/2 CLL data with CD19 CAR-T candidate, GLPG5201, at the EHA 2023 congressRead
2023-05-23
22:01
Galapagos announces start of Phase 2 study with selective TYK2 inhibitor, GLPG3667, in patients with dermatomyositisRead
2023-05-22
22:01
Galapagos demonstrates commitment to immunology with new data in rheumatoid arthritis at EULAR 2023Read

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Galapagos NV compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---2.494-0.445-82%-0.102-96%1.149-317%0.937-366%
Book Value Growth--0.9390.989-5%0.998-6%1.070-12%1.114-16%
Book Value Per Share--38.33339.872-4%40.312-5%33.422+15%20.856+84%
Book Value Per Share Growth--0.9390.989-5%0.998-6%1.070-12%1.114-16%
Current Ratio--8.1088.291-2%8.740-7%7.837+3%5.104+59%
Debt To Asset Ratio--0.4660.470-1%0.507-8%0.416+12%0.347+35%
Debt To Equity Ratio--0.8740.888-2%1.030-15%0.805+9%0.607+44%
Dividend Per Share----0%-0%-0%-0%
Eps---3.144-0.827-74%-0.392-88%-0.333-89%-0.184-94%
Eps Growth---9.613-1.681-83%-0.656-93%0.415-2416%0.444-2266%
Free Cash Flow Per Share---2.848-2.039-28%-2.131-25%0.868-428%0.990-388%
Free Cash Flow Per Share Growth--0.5420.802-32%0.715-24%1.478-63%1.264-57%
Free Cash Flow To Equity Per Share---2.877-2.045-29%-2.146-25%2.855-201%3.769-176%
Free Cash Flow To Equity Per Share Growth--0.5180.798-35%0.716-28%2.421-79%2.548-80%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%0.667+50%
Intrinsic Value_10Y_max---51.217--------
Intrinsic Value_10Y_min---58.135--------
Intrinsic Value_1Y_max---7.730--------
Intrinsic Value_1Y_min---7.833--------
Intrinsic Value_3Y_max---21.245--------
Intrinsic Value_3Y_min---21.936--------
Intrinsic Value_5Y_max---32.374--------
Intrinsic Value_5Y_min---34.178--------
Net Profit Margin---2.178-0.564-74%-0.322-85%-0.468-78%-0.244-89%
Operating Margin----0.2460%-0.4710%-0.4170%-0.2640%
Operating Ratio--2.4361.620+50%1.488+64%1.971+24%1.701+43%
Pb Ratio1.013-6%1.0791.219-12%1.356-20%3.273-67%4.487-76%
Pe Ratio-12.352+6%-13.150-85.325+549%139.467-109%18.733-170%-8.164-38%
Peg Ratio--1.36816.150-92%128.989-99%68.347-98%103.764-99%
Price Per Share38.840-6%41.35048.653-15%54.745-24%92.660-55%67.772-39%
Price To Total Gains Ratio-15.575+6%-16.5823127.742-101%24.727-167%563.809-103%330.273-105%
Profit Growth---9.613-1.681-83%-0.365-96%0.432-2325%0.457-2203%
Quick Ratio--6.9176.624+4%4.293+61%5.777+20%3.071+125%
Return On Assets---0.044-0.011-74%-0.005-89%-0.009-80%-0.005-89%
Return On Equity---0.082-0.022-74%-0.010-88%-0.013-84%-0.007-92%
Revenue Growth--0.6980.878-21%1.269-45%1.491-53%1.372-49%
Total Gains Per Share---2.494-0.445-82%-0.102-96%1.149-317%0.937-366%
Total Gains Per Share Growth---3.78234.266-111%1.219-410%10.641-136%7.244-152%
Usd Book Value--2706636859.0002815329819.000-4%2846354030.000-5%2359915585.075+15%1472642757.551+84%
Usd Book Value Change Per Share---2.672-0.477-82%-0.110-96%1.231-317%1.004-366%
Usd Book Value Per Share--41.07442.723-4%43.194-5%35.812+15%22.348+84%
Usd Dividend Per Share----0%-0%-0%-0%
Usd Eps---3.369-0.886-74%-0.420-88%-0.357-89%-0.197-94%
Usd Free Cash Flow---201113049.500-143980401.625-28%-150466994.750-25%61296711.175-428%51989784.436-487%
Usd Free Cash Flow Per Share---3.052-2.185-28%-2.283-25%0.930-428%1.061-388%
Usd Free Cash Flow To Equity Per Share---3.083-2.191-29%-2.299-25%3.059-201%4.039-176%
Usd Price Per Share41.617-6%44.30752.131-15%58.659-24%99.285-55%72.618-39%
Usd Profit---222022300.500-58394339.125-74%-27653004.125-88%-27112860.975-88%-14832911.872-93%
Usd Revenue--101921080.000135351612.125-25%129878122.250-22%144483363.725-29%89715101.487+14%
Usd Total Gains Per Share---2.672-0.477-82%-0.110-96%1.231-317%1.004-366%
 EOD+3 -2MRQTTM+6 -32YOY+7 -315Y+9 -2910Y+11 -28

3.2. Fundamental Score

Let's check the fundamental score of Galapagos NV based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-12.352
Price to Book Ratio (EOD)Between0-11.013
Net Profit Margin (MRQ)Greater than0-2.178
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than16.917
Current Ratio (MRQ)Greater than18.108
Debt to Asset Ratio (MRQ)Less than10.466
Debt to Equity Ratio (MRQ)Less than10.874
Return on Equity (MRQ)Greater than0.15-0.082
Return on Assets (MRQ)Greater than0.05-0.044
Total4/10 (40.0%)

3.3. Technical Score

Let's check the technical score of Galapagos NV based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
OpenGreater thanClose38.700
Total0/1 (0.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2021-12-312022-03-312022-06-302022-09-302022-12-31
Tax Provision  2,739-1,0151,724-913811-117694-1,079-385
Total Other Income Expense Net 58,271-45,19913,07245,78658,85811358,971-138,397-79,426



Latest Balance Sheet

Balance Sheet of 2022-12-31. Currency in EUR. All numbers in thousands.

Summary
Total Assets4,734,351
Total Liabilities2,208,325
Total Stockholder Equity2,526,026
 As reported
Total Liabilities 2,208,325
Total Stockholder Equity+ 2,526,026
Total Assets = 4,734,351

Assets

Total Assets4,734,351
Total Current Assets4,236,850
Long-term Assets4,236,850
Total Current Assets
Cash And Cash Equivalents 508,117
Short-term Investments 3,585,945
Net Receivables 28,194
Inventory 52,925
Other Current Assets 2
Total Current Assets  (as reported)4,236,850
Total Current Assets  (calculated)4,175,183
+/- 61,667
Long-term Assets
Goodwill 69,813
Intangible Assets 146,353
Long-term Assets Other 5,778
Long-term Assets  (as reported)497,501
Long-term Assets  (calculated)221,944
+/- 275,557

Liabilities & Shareholders' Equity

Total Current Liabilities522,538
Long-term Liabilities1,685,787
Total Stockholder Equity2,526,026
Total Current Liabilities
Accounts payable 133,298
Other Current Liabilities 8,505
Total Current Liabilities  (as reported)522,538
Total Current Liabilities  (calculated)141,803
+/- 380,735
Long-term Liabilities
Capital Lease Obligations Min Short Term Debt21,901
Long-term Liabilities Other 21,808
Long-term Liabilities  (as reported)1,685,787
Long-term Liabilities  (calculated)43,709
+/- 1,642,078
Total Stockholder Equity
Total Stockholder Equity (as reported)2,526,026
Total Stockholder Equity (calculated)0
+/- 2,526,026
Other
Capital Stock293,604
Common Stock Shares Outstanding 65,836
Net Invested Capital 2,526,026
Net Working Capital 3,714,312



Balance Sheet

Currency in EUR. All numbers in thousands.

 Trend2022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-31
> Total Assets 
15,613
32,890
32,890
0
81,563
74,389
74,389
156,261
167,646
147,762
147,762
148,724
148,724
119,905
119,905
118,824
118,824
106,216
106,216
143,709
143,709
139,736
139,736
193,961
193,961
152,989
152,989
161,055
161,055
243,337
243,337
235,329
235,329
276,228
276,228
287,374
287,374
304,980
304,980
270,467
0
488,263
461,049
442,514
1,079,287
1,066,524
1,043,094
1,083,338
1,072,814
1,368,355
1,331,373
1,286,274
1,229,864
1,204,348
1,485,551
1,439,496
1,400,200
1,357,848
5,851,752
6,068,609
5,992,406
5,851,564
5,721,086
5,717,731
5,615,059
5,430,617
5,331,987
5,193,160
5,100,315
5,040,085
4,972,070
4,734,351
4,734,3514,972,0705,040,0855,100,3155,193,1605,331,9875,430,6175,615,0595,717,7315,721,0865,851,5645,992,4066,068,6095,851,7521,357,8481,400,2001,439,4961,485,5511,204,3481,229,8641,286,2741,331,3731,368,3551,072,8141,083,3381,043,0941,066,5241,079,287442,514461,049488,2630270,467304,980304,980287,374287,374276,228276,228235,329235,329243,337243,337161,055161,055152,989152,989193,961193,961139,736139,736143,709143,709106,216106,216118,824118,824119,905119,905148,724148,724147,762147,762167,646156,26174,38974,38981,563032,89032,89015,613
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
174,622
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,007,232
992,122
1,284,957
1,243,839
1,197,647
1,135,735
1,107,881
1,390,400
1,328,851
1,259,244
1,208,604
5,651,013
5,865,927
5,780,264
5,622,005
5,463,769
5,369,347
5,310,922
5,129,494
5,015,997
4,861,854
4,750,700
4,533,192
4,462,397
4,236,850
4,236,8504,462,3974,533,1924,750,7004,861,8545,015,9975,129,4945,310,9225,369,3475,463,7695,622,0055,780,2645,865,9275,651,0131,208,6041,259,2441,328,8511,390,4001,107,8811,135,7351,197,6471,243,8391,284,957992,1221,007,23200000000000000174,62200000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
124,417
0
0
0
0
0
0
0
0
0
0
0
0
0
0
973,241
953,385
1,262,061
1,218,856
1,151,211
1,108,186
1,066,766
1,343,668
1,290,796
1,222,901
198,994
4,270,724
1,861,616
2,743,573
2,384,220
2,087,797
2,135,187
2,553,950
2,642,639
2,834,378
2,233,368
1,254,279
972,796
675,519
508,117
508,117675,519972,7961,254,2792,233,3682,834,3782,642,6392,553,9502,135,1872,087,7972,384,2202,743,5731,861,6164,270,724198,9941,222,9011,290,7961,343,6681,066,7661,108,1861,151,2111,218,8561,262,061953,385973,24100000000000000124,41700000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,919,216
2,978,805
3,182,276
3,220,805
3,026,278
2,560,743
2,363,969
2,039,787
2,469,809
3,389,098
3,456,184
3,686,557
3,585,945
3,585,9453,686,5573,456,1843,389,0982,469,8092,039,7872,363,9692,560,7433,026,2783,220,8053,182,2762,978,8053,919,21600000000000000000000000000000000000000000000000000000000000
       Net Receivables 
2,169
2,120
2,120
0
9,786
5,729
5,729
24,846
24,847
24,702
24,702
26,500
23,581
19,761
19,761
26,427
26,427
20,131
20,131
32,489
32,489
26,173
26,173
63,546
63,546
14,304
14,304
28,857
28,857
16,083
16,083
33,242
33,242
26,540
26,540
31,979
31,979
20,061
20,061
13,794
0
11,801
19,163
16,057
15,075
17,625
18,127
23,479
26,164
15,642
17,740
41,789
20,086
33,762
37,006
33,533
26,992
42,067
32,642
80,110
49,180
45,190
139,299
173,399
180,347
113,600
126,802
128,601
78,521
64,057
54,374
28,194
28,19454,37464,05778,521128,601126,802113,600180,347173,399139,29945,19049,18080,11032,64242,06726,99233,53337,00633,76220,08641,78917,74015,64226,16423,47918,12717,62515,07516,05719,16311,801013,79420,06120,06131,97931,97926,54026,54033,24233,24216,08316,08328,85728,85714,30414,30463,54663,54626,17326,17332,48932,48920,13120,13126,42726,42719,76119,76123,58126,50024,70224,70224,84724,8465,7295,7299,78602,1202,1202,169
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
2,919
0
0
2,532
2,532
1,604
1,604
2,990
2,990
3,139
3,139
3,843
3,843
2,193
2,193
3,647
3,647
4,522
4,522
4,634
4,634
4,520
4,520
2,944
2,944
3,005
3,005
1,394
0
5,751
4,653
10,918
5,642
6,981
6,848
3,642
8,215
6,936
6,939
4,368
7,170
7,086
9,446
4,104
9,351
6,970
8,838
4,438
8,706
10,319
15,868
33,909
15,882
9,286
15,030
9,305
10,404
13,147
20,437
2
220,43713,14710,4049,30515,0309,28615,88233,90915,86810,3198,7064,4388,8386,9709,3514,1049,4467,0867,1704,3686,9396,9368,2153,6426,8486,9815,64210,9184,6535,75101,3943,0053,0052,9442,9444,5204,5204,6344,6344,5224,5223,6473,6472,1932,1933,8433,8433,1393,1392,9902,9901,6041,6042,5322,532002,919000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
140,956
149,244
200,739
202,682
212,142
229,559
257,318
348,384
304,136
301,123
315,990
331,306
349,615
506,893
509,673
497,501
497,501509,673506,893349,615331,306315,990301,123304,136348,384257,318229,559212,142202,682200,739149,244140,95600000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
2,625
2,669
2,669
0
9,399
9,939
9,939
25,540
25,965
26,013
26,013
22,914
22,914
21,135
21,135
20,293
20,293
20,542
20,542
19,285
19,285
20,473
20,473
23,886
23,886
20,310
20,310
19,524
19,524
19,253
19,253
18,099
18,099
17,273
17,273
19,525
19,525
10,761
10,761
10,091
0
11,178
12,577
13,782
14,110
15,091
15,032
14,961
15,064
15,506
15,279
16,692
16,971
17,854
18,113
23,137
49,542
51,180
61,883
66,052
66,979
73,786
94,661
103,378
111,294
111,900
123,637
137,512
145,896
148,866
150,394
0
0150,394148,866145,896137,512123,637111,900111,294103,37894,66173,78666,97966,05261,88351,18049,54223,13718,11317,85416,97116,69215,27915,50615,06414,96115,03215,09114,11013,78212,57711,178010,09110,76110,76119,52519,52517,27317,27318,09918,09919,25319,25319,52419,52420,31020,31023,88623,88620,47320,47319,28519,28520,54220,54220,29320,29321,13521,13522,91422,91426,01326,01325,96525,5409,9399,9399,39902,6692,6692,625
       Goodwill 
0
0
0
0
29,481
29,112
29,112
32,996
35,560
35,948
35,948
33,952
33,952
33,952
33,952
33,751
33,751
33,751
33,751
33,751
33,751
42,710
42,710
42,380
42,380
38,880
38,880
38,880
38,880
38,314
38,314
37,667
37,667
39,240
39,240
39,239
39,239
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
174,288
174,994
69,813
69,813174,994174,2880000000000000000000000000000000039,23939,23939,24039,24037,66737,66738,31438,31438,88038,88038,88038,88042,38042,38042,71042,71033,75133,75133,75133,75133,75133,75133,95233,95233,95233,95235,94835,94835,56032,99629,11229,11229,4810000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
46,524
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,754
0
0
0
6,000
0
0
0
11,275
0
0
0
8,951
0
0
0
0
0
0
0
0
000000008,95100011,2750006,0000001,75400000000000000000046,52400000000000000000000000000000000
       Intangible Assets 
447
422
422
0
34,350
33,690
33,690
42,445
53,404
53,164
53,164
40,042
40,042
40,019
40,019
37,910
37,910
37,960
37,960
37,231
37,231
58,248
58,248
55,914
55,914
50,068
50,068
49,494
49,494
48,135
48,135
47,091
47,091
47,768
47,768
47,071
47,071
1,862
1,862
2,015
0
1,575
1,517
1,550
1,382
1,226
1,150
1,023
963
859
747
2,495
2,555
1,403
2,058
3,632
6,497
7,191
23,492
24,927
33,856
39,254
41,114
67,566
65,738
63,072
59,623
60,103
0
32,346
38,493
146,353
146,35338,49332,346060,10359,62363,07265,73867,56641,11439,25433,85624,92723,4927,1916,4973,6322,0581,4032,5552,4957478599631,0231,1501,2261,3821,5501,5171,57502,0151,8621,86247,07147,07147,76847,76847,09147,09148,13548,13549,49449,49450,06850,06855,91455,91458,24858,24837,23137,23137,96037,96037,91037,91040,01940,01940,04240,04253,16453,16453,40442,44533,69033,69034,3500422422447
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,377
5,713
5,993
28,164
13,945
9,522
8,647
37,504
4,465
4,422
4,455
2,472
7,881
8,388
7,832
5,778
5,7787,8328,3887,8812,4724,4554,4224,46537,5048,6479,52213,94528,1645,9935,7136,37700000000000000000000000000000000000000000000000000000000
> Total Liabilities 
5,246
5,044
5,044
0
20,427
18,591
18,591
46,719
58,104
43,574
43,574
50,098
50,098
31,674
31,674
34,500
34,500
26,975
26,975
34,832
34,832
36,555
36,555
45,455
45,455
34,697
34,697
42,679
42,679
130,997
130,997
116,882
116,882
108,216
108,216
120,237
120,237
79,965
79,965
64,332
0
44,808
42,258
77,515
350,742
336,724
334,272
324,637
324,664
299,329
294,441
274,291
330,519
318,689
297,329
225,247
224,445
214,481
3,316,471
3,192,951
3,152,365
3,078,301
3,009,004
3,047,376
2,913,597
2,767,144
2,714,604
2,549,798
2,453,726
2,393,187
2,281,719
2,208,325
2,208,3252,281,7192,393,1872,453,7262,549,7982,714,6042,767,1442,913,5973,047,3763,009,0043,078,3013,152,3653,192,9513,316,471214,481224,445225,247297,329318,689330,519274,291294,441299,329324,664324,637334,272336,724350,74277,51542,25844,808064,33279,96579,965120,237120,237108,216108,216116,882116,882130,997130,99742,67942,67934,69734,69745,45545,45536,55536,55534,83234,83226,97526,97534,50034,50031,67431,67450,09850,09843,57443,57458,10446,71918,59118,59120,42705,0445,0445,246
   > Total Current Liabilities 
3,608
3,688
3,688
0
14,065
12,305
12,305
29,655
29,278
22,704
22,704
43,361
43,361
25,532
25,532
29,751
29,751
22,787
22,787
31,344
31,344
28,053
28,053
38,223
38,223
27,818
27,818
35,360
35,360
124,367
124,367
109,014
109,014
99,294
99,294
112,559
112,559
75,977
75,977
60,357
0
40,299
37,251
72,412
104,736
111,549
129,826
103,791
127,984
130,678
154,531
171,699
223,631
246,586
269,102
219,905
199,450
188,712
631,300
571,793
622,626
618,538
601,744
635,274
605,362
576,985
575,494
566,474
562,896
550,725
532,207
522,538
522,538532,207550,725562,896566,474575,494576,985605,362635,274601,744618,538622,626571,793631,300188,712199,450219,905269,102246,586223,631171,699154,531130,678127,984103,791129,826111,549104,73672,41237,25140,299060,35775,97775,977112,559112,55999,29499,294109,014109,014124,367124,36735,36035,36027,81827,81838,22338,22328,05328,05331,34431,34422,78722,78729,75129,75125,53225,53243,36143,36122,70422,70429,27829,65512,30512,30514,06503,6883,6883,608
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
316
0
0
0
0
0
0
0
0
0
0
0
0
0
0
63
50
37
23
9
0
0
0
0
4,580
5,141
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000005,1414,58000009233750630000000000000031600000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
316
0
0
0
0
0
0
0
0
0
0
0
0
0
0
63
50
37
23
9
0
0
0
0
4,580
5,141
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000005,1414,58000009233750630000000000000031600000000000000000000000000000000
       Accounts payable 
2,766
3,042
3,042
0
9,568
9,711
9,711
11,805
25,431
18,631
18,631
13,293
13,293
23,588
23,588
13,425
13,425
11,850
11,850
15,130
15,130
12,556
12,556
22,012
22,012
16,107
16,107
18,068
18,068
15,739
15,739
22,093
22,093
20,449
20,449
29,365
29,365
23,047
23,047
29,344
0
32,823
32,775
29,113
24,223
22,673
27,749
31,209
46,964
36,686
48,437
47,122
55,657
69,141
80,721
68,038
69,880
86,216
156,254
142,511
169,477
179,432
157,259
171,316
161,867
151,721
145,260
134,304
134,668
160,746
154,745
133,298
133,298154,745160,746134,668134,304145,260151,721161,867171,316157,259179,432169,477142,511156,25486,21669,88068,03880,72169,14155,65747,12248,43736,68646,96431,20927,74922,67324,22329,11332,77532,823029,34423,04723,04729,36529,36520,44920,44922,09322,09315,73915,73918,06818,06816,10716,10722,01222,01212,55612,55615,13015,13011,85011,85013,42513,42523,58823,58813,29313,29318,63118,63125,43111,8059,7119,7119,56803,0423,0422,766
       Other Current Liabilities 
736
536
536
0
1,530
594
594
14,678
675
383
383
27,447
27,447
850
850
15,796
15,796
10,682
10,682
15,694
15,694
15,078
15,078
15,833
15,833
11,315
11,315
16,867
16,867
108,222
108,222
86,681
86,681
78,599
78,599
82,968
82,968
52,816
52,816
30,961
0
7,425
4,425
43,247
80,461
88,823
102,024
72,528
80,970
93,955
106,071
124,568
167,974
176,584
187,514
150,977
124,990
-1
-1
422,533
446,939
432,234
437,369
456,487
437,020
418,784
422,972
421,852
421,163
382,800
370,536
8,505
8,505370,536382,800421,163421,852422,972418,784437,020456,487437,369432,234446,939422,533-1-1124,990150,977187,514176,584167,974124,568106,07193,95580,97072,528102,02488,82380,46143,2474,4257,425030,96152,81652,81682,96882,96878,59978,59986,68186,681108,222108,22216,86716,86711,31511,31515,83315,83315,07815,07815,69415,69410,68210,68215,79615,79685085027,44727,44738338367514,6785945941,5300536536736
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
24,995
25,769
2,685,171
2,621,158
2,529,739
2,459,763
2,407,260
2,412,102
2,308,235
2,190,159
2,139,110
1,983,324
1,890,830
1,842,462
1,749,512
1,685,787
1,685,7871,749,5121,842,4621,890,8301,983,3242,139,1102,190,1592,308,2352,412,1022,407,2602,459,7632,529,7392,621,1582,685,17125,76924,99500000000000000000000000000000000000000000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20,457
19,661
19,558
18,856
20,384
0
0
0
0
0
0
0
0
0
0
000000000020,38418,85619,55819,66120,457000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
214
63
63
11,875
23,637
18,110
18,110
4,698
4,698
4,252
4,252
3,392
3,392
2,531
2,531
1,960
1,960
2,704
2,704
3,672
3,672
3,813
3,813
4,465
4,465
4,381
4,381
5,079
5,079
6,074
6,074
5,319
5,319
3,848
3,848
3,860
0
4,420
4,931
5,040
245,956
225,138
204,423
220,837
196,680
168,651
139,910
102,592
106,888
72,103
28,227
5,342
4,586
5,312
2,665,510
2,601,600
2,510,883
2,439,379
2,385,310
2,389,066
2,286,059
2,168,730
2,119,982
1,963,669
1,872,541
1,825,587
1,733,753
0
01,733,7531,825,5871,872,5411,963,6692,119,9822,168,7302,286,0592,389,0662,385,3102,439,3792,510,8832,601,6002,665,5105,3124,5865,34228,22772,103106,888102,592139,910168,651196,680220,837204,423225,138245,9565,0404,9314,42003,8603,8483,8485,3195,3196,0746,0745,0795,0794,3814,3814,4654,4653,8133,8133,6723,6722,7042,7041,9601,9602,5312,5313,3923,3924,2524,2524,6984,69818,11018,11023,63711,87563632140000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,460
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,872
0
0
0
13,334
0
0
0
11,796
0
0
0
0
000011,79600013,33400014,872000000000000000000000000003,46000000000000000000000000000000000
> Total Stockholder Equity
10,367
27,846
27,846
27,846
61,136
55,798
55,798
109,542
109,542
104,188
104,188
98,626
98,626
88,231
88,231
84,324
84,324
79,241
79,241
108,877
108,877
103,181
103,181
148,506
148,506
118,292
118,292
118,376
118,376
112,340
112,340
118,447
118,447
168,012
168,012
167,137
167,137
225,015
225,015
206,135
206,135
443,455
418,791
364,999
728,545
729,800
708,822
758,701
748,150
1,069,026
1,036,932
1,011,983
899,345
885,659
1,188,222
1,214,249
1,175,755
1,143,367
2,535,281
2,875,658
2,840,041
2,773,263
2,712,082
2,670,355
2,701,462
2,663,473
2,617,383
2,643,362
2,646,589
2,646,898
2,690,351
2,526,026
2,526,0262,690,3512,646,8982,646,5892,643,3622,617,3832,663,4732,701,4622,670,3552,712,0822,773,2632,840,0412,875,6582,535,2811,143,3671,175,7551,214,2491,188,222885,659899,3451,011,9831,036,9321,069,026748,150758,701708,822729,800728,545364,999418,791443,455206,135206,135225,015225,015167,137167,137168,012168,012118,447118,447112,340112,340118,376118,376118,292118,292148,506148,506103,181103,181108,877108,87779,24179,24184,32484,32488,23188,23198,62698,626104,188104,188109,542109,54255,79855,79861,13627,84627,84627,84610,367
   Retained Earnings -496,689-326,905-367,381-366,119-367,205-391,311-345,101-306,881-334,701-297,098-235,224-150,597-109,223-4,642-377,253-340,020-297,779-321,495-343,796-328,620-211,441-186,432-154,553-122,854-112,27200000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 000000000000000000000000000000000000000000000000000000000000000000000000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,283,650
2,268,585
2,703,583
2,708,114
2,723,671
0
0
0
0
0
0
0
0
0
0
00000000002,723,6712,708,1142,703,5832,268,5851,283,650000000000000000000000000000000000000000000000000000000000
   Treasury Stock000000000000000000000000000000000000000000000000000000000000000000000000



Balance Sheet

Currency in EUR. All numbers in thousands.




Cash Flow

Currency in EUR. All numbers in thousands.