3455.TWO 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	17B EUR	14.06B EUR	7.39B EUR	6.73B EUR
Enterprise Value	17.07B EUR	14.18B EUR	7.45B EUR	6.68B EUR
Valuation Multiples
Trailing P/E	80x	65.9x	69.26x	43.31x
Forward P/E	--	--	--	--
Price to Sales	11.82x	9.78x	5.06x	5.13x
Price to Book	7.08x	5.86x	3.2x	2.62x
EV/Revenue	11.87x	9.86x	5.1x	5.09x
EV/EBITDA	313.78x	54.59x	60.5x	39.87x
Price to FCF (P/FCF)	--	178.46x	44.48x	23.53x
EV/FCF	--	179.88x	44.83x	23.35x
FCF Yield	-0.32%	0.56%	2.25%	4.25%