Melexis NV
Melexis designs chips for the automotive industry and other markets. Its sensors measure movement, temperature and electrical current, while its driver chips control motors and other components.
Overview
Latest results
Jan–Sep 2026 · Reported in EUR
Latest financial publication
Q3 and nine-month 2026 results
Investment Thesis
More sensing per machine, with cars still paying the bills
European Tech Equities analysis ·
The opportunity is content per vehicle and per robot
Melexis NV supplies chips that sense position, current and temperature or control movement. More electronics in vehicles can increase demand even when vehicle production grows slowly. Robotics offers another use for that expertise. The investment case is strongest when design selections turn into sustained production volumes, with the existing automotive business funding expansion into newer applications.
Improving profit accompanies modest sales growth
H1 2026 revenue was €419.2 million, compared with €409.8 million a year earlier. Operating profit improved to €71.7 million from €64.6 million, showing a better earnings outcome than sales growth alone suggests. In July, Melexis reported four robotics design wins for its sensing and drive products. These establish customer selections, but their eventual production volumes and revenue contribution still have to emerge.
Electrification matters more directly than a humanoid forecast
The IEA expects 23 million electric-car sales worldwide in 2026 and about one-third of European car sales to be electric. Electrification creates applications for sensing and control, although the value captured depends on the chips used in each design. Melexis’s robotics wins add a second route to growth. Neither worldwide EV spending nor a forecast for humanoid robots should be treated as revenue available to one chip supplier.
Strong cash flow needs its working-capital explanation
H1 operating cash flow of €147.8 million comfortably exceeded €19.3 million of capital expenditure, but included the return of previously committed supplier funding. Cash was €37.3 million against €301.0 million of financial debt including leases. The useful question is how much cash normal trading generates after those prepayment movements pass, particularly if customers rebuild inventories and new products require further investment.
New markets should earn their place in the earnings forecast
A durable case would combine a sensible automotive demand assumption with higher chip content and identifiable production ramps from new designs. Robotics can add value, but a large premium requires evidence of meaningful sales and margins. Valuation should also account for net debt and ordinary cash conversion. A design win becomes financially interesting when the customer builds enough machines for it to matter.
What would weaken the case
- Automotive customers reduce inventories or production, offsetting gains in chip content.
- Robotics design wins remain small-volume programmes despite strong industry attention.
- Supplier commitments and working capital absorb more cash, slowing debt reduction.
Sources
Financials
The business in numbers
Latest
Income statement
| For the periodEUR million | 9M 2026 |
|---|---|
| Revenue | 642.90 |
| Gross profit | 259.60 |
| Gross margin | 40.4% |
| Operating profit (EBIT) | 113.00 |
| Operating margin | 17.6% |
| Net income | 85.20 |
| Earnings per share (EUR) | 2.11 |
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
H1 2025 · PDF pp. 6–9, 18; EPS also in 29 July results release
H1 2026 · PDF pp. 6–9, 18; EPS also in 29 July results release
FY 2025 · PDF pp. 129–132; FY 2024 cash flow as re-presented in this report
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
IFRS. FY 2024 cash flows use the comparative presentation in the 2025 annual report. Debt includes loans and leases. H1 2026 operating cash flow includes repayment of supplier prepayments; this is not a recurring profit measure. Missing comparative balance-sheet figures are left blank.
Annual
Income statement
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
FY 2024 · PDF pp. 129–132; FY 2024 cash flow as re-presented in this report
FY 2025 · PDF pp. 129–132; FY 2024 cash flow as re-presented in this report
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
IFRS. FY 2024 cash flows use the comparative presentation in the 2025 annual report. Debt includes loans and leases. H1 2026 operating cash flow includes repayment of supplier prepayments; this is not a recurring profit measure. Missing comparative balance-sheet figures are left blank.
Half-year
Income statement
Cash flow
Balance sheet
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
H1 2025 · PDF pp. 6–9, 18; EPS also in 29 July results release
H1 2026 · PDF pp. 6–9, 18; EPS also in 29 July results release
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
IFRS. FY 2024 cash flows use the comparative presentation in the 2025 annual report. Debt includes loans and leases. H1 2026 operating cash flow includes repayment of supplier prepayments; this is not a recurring profit measure. Missing comparative balance-sheet figures are left blank.
Quarterly
Income statement
| For the periodEUR million | Q3 2026 |
|---|---|
| Revenue | 223.70 |
| Gross profit | 91.10 |
| Gross margin | 40.7% |
| Operating profit (EBIT) | 41.30 |
| Operating margin | 18.5% |
| Net income | 31.30 |
| Earnings per share (EUR) | 0.78 |
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
IFRS. FY 2024 cash flows use the comparative presentation in the 2025 annual report. Debt includes loans and leases. H1 2026 operating cash flow includes repayment of supplier prepayments; this is not a recurring profit measure. Missing comparative balance-sheet figures are left blank.
Year to date
Income statement
| For the periodEUR million | 9M 2026 |
|---|---|
| Revenue | 642.90 |
| Gross profit | 259.60 |
| Gross margin | 40.4% |
| Operating profit (EBIT) | 113.00 |
| Operating margin | 17.6% |
| Net income | 85.20 |
| Earnings per share (EUR) | 2.11 |
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
IFRS. FY 2024 cash flows use the comparative presentation in the 2025 annual report. Debt includes loans and leases. H1 2026 operating cash flow includes repayment of supplier prepayments; this is not a recurring profit measure. Missing comparative balance-sheet figures are left blank.
Performance
About these figures
Dates link to the original reports. Bars compare the same period a year earlier, on a consistent accounting basis. Arrows show whether the number rose or fell, not whether it is good or bad for the business.
Research & updates
Melexis: update on the share buy-back program
Melexis turns China and robotics wins into Q3 growth
Sales and margins improved as automotive inventories normalised, while a BYD agreement and earlier robotics production offer new growth evidence without disclosed contract values.
Melexis Q3 2026 results
Q3 and nine-month 2026 results
Your Next-Gen Seatbelt Buckle Switch is Here to Stay
Interviews
Interviews are coming soon
No interviews with Melexis NV have been published yet.
Sources
Sources & data dates
Financial figures link to the company’s publications and retain their reporting period. Share prices have their own closing dates.
Q3 2026 · Published Oct 28, 2026 · Checked Oct 28, 2026
9M 2026 · Published Oct 28, 2026 · Checked Oct 28, 2026
H1 2026 · Published Aug 27, 2026 · Checked Sep 9, 2026
H1 2026 · Published Jul 29, 2026 · Checked Sep 9, 2026
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