Philips reported a net loss of approximately −€96 million for fiscal year 2024, continuing a run of weak profitability as recall remediation costs from the sleep apnea device crisis consumed operating income. The company posted losses in three of the last four fiscal years, a sharp reversal from the consistent profitability it delivered before the 2021 recall announcement.
Earnings of Philips
Net income in USD equivalent from 1950 through 2024. EUR/USD at approximate annual averages. Red data points mark loss years. The 2021 recall announcement triggered a structural shift from consistent profitability to serial losses.
Annual Earnings Of Philips
| Year | Net Income (EUR) | YoY Change |
|---|---|---|
| 2015 | €660M | — |
| 2016 | €1.45B | +119.7% |
| 2017 | €1.88B | +29.7% |
| 2018 | €1.10B | −41.5% |
| 2019 | €1.18B | +7.3% |
| 2020 | €1.20B | +1.7% |
| 2021 | −€355M | Loss |
| 2022 | −€1.62B | Deeper loss |
| 2023 | −€1.29B | Loss |
| 2024 | −€96M | Narrowing loss |
Note: The 2022 loss includes a €1.3B recall provision for the DreamStation device settlement. Philips reached a $1.1 billion settlement with US regulators and plaintiffs in 2024, with further remediation payments expected through 2025.
Philips P/E Ratio
| Year | P/E Ratio | Note |
|---|---|---|
| 2015 | 34.5x | Health tech transition premium |
| 2016 | 21.0x | Gains from Signify spinoff |
| 2017 | 16.2x | −22.9% |
| 2018 | 25.5x | +57.4% |
| 2019 | 32.9x | +29.0% |
| 2020 | 38.7x | +17.6% |
| 2021 | N/M | Net loss year |
| 2022 | N/M | Net loss year |
| 2023 | N/M | Net loss year |
| 2024 | N/M | Net loss year |