2865.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	3.48B EUR	6.67B EUR	8.47B EUR
Enterprise Value	5.48B EUR	9.42B EUR	11.04B EUR
Valuation Multiples
Trailing P/E	--	--	--
Forward P/E	--	--	--
Price to Sales	0.49x	0.96x	1.16x
Price to Book	0.78x	1.76x	2.1x
EV/Revenue	0.77x	1.36x	1.51x
EV/EBITDA	35.37x	--	--
Price to FCF (P/FCF)	--	82.51x	--
EV/FCF	--	116.63x	--
FCF Yield	-46.95%	1.21%	-4.58%