023530.KS Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	2.76T EUR	5.23T EUR	2.99T EUR	2.05T EUR
Enterprise Value	16.49T EUR	18.19T EUR	15.89T EUR	15.28T EUR
Valuation Multiples
Trailing P/E	--	28.88x	18.29x	57.96x
Forward P/E	--	--	--	--
Price to Sales	0.2x	0.37x	0.22x	0.2x
Price to Book	--	0.34x	0.2x	0.13x
EV/Revenue	1.18x	1.3x	1.15x	1.49x
EV/EBITDA	9.48x	9.36x	7.92x	10.25x
Price to FCF (P/FCF)	8.47x	3.93x	2.49x	1.96x
EV/FCF	50.53x	13.68x	13.25x	14.64x
FCF Yield	11.8%	25.42%	40.09%	50.93%