4020.SR 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	5.54B EUR	5.86B EUR	5B EUR	4.83B EUR
Enterprise Value	8.02B EUR	7.87B EUR	6.85B EUR	6.36B EUR
Valuation Multiples
Trailing P/E	8.64x	9.08x	7.85x	30.06x
Forward P/E	18.23x	--	--	--
Price to Sales	3.52x	3.89x	3.18x	3.86x
Price to Book	0.94x	0.99x	0.87x	0.91x
EV/Revenue	5.1x	5.23x	4.36x	5.08x
EV/EBITDA	17.22x	14.94x	13.03x	12.01x
Price to FCF (P/FCF)	35.24x	19.3x	9.51x	7.45x
EV/FCF	51.05x	25.94x	13.03x	9.8x
FCF Yield	2.84%	5.18%	10.51%	13.43%