2648.HK Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	21.45B EUR	21.71B EUR	26.33B EUR
Enterprise Value	14.47B EUR	17.83B EUR	21.44B EUR
Valuation Multiples
Trailing P/E	12.62x	14.35x	15.97x
Forward P/E	9.43x	--	--
Price to Sales	1.2x	1.2x	1.54x
Price to Book	1.15x	1.37x	1.64x
EV/Revenue	0.81x	0.99x	1.25x
EV/EBITDA	5.28x	7.53x	8.81x
Price to FCF (P/FCF)	12.86x	237.32x	20.46x
EV/FCF	8.67x	194.88x	16.66x
FCF Yield	7.78%	0.42%	4.89%