This is how the stock price looks like for the last 10 years:
20112019 (EUR 390/share)Total growthCAGR 8Y Sales mn112.913317.80%2.07%Operating profit mn8.612.343.02%4.57%Net Profit mn5.48.69561.02%6.14%EPS EUR17.9729.5764.55%6.42%Net cash per share EUR4679Trailing PE8.1213.19Trailing PE ex cash5.5610.52Sum dividends 2012-201954.5So we can see that overall top line growth was very moderate, however Ppofit and especially EPS increased faster.
Nevertheless, the combination of some EPS growth, Dividends and multiple expansion resulted in a very decent return with an acceptable downside risk.
