600351.SS 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	4.89B EUR	3.98B EUR	4.62B EUR	4.49B EUR
Enterprise Value	3.95B EUR	3.1B EUR	3.79B EUR	3.71B EUR
Valuation Multiples
Trailing P/E	15.37x	14.08x	16.56x	16.08x
Forward P/E	--	--	--	--
Price to Sales	2.18x	2.37x	2.83x	2.69x
Price to Book	1.73x	1.41x	1.62x	1.56x
EV/Revenue	1.76x	1.85x	2.33x	2.22x
EV/EBITDA	8.49x	8.36x	11.1x	10.95x
Price to FCF (P/FCF)	10.58x	8.95x	10.23x	11.14x
EV/FCF	8.54x	6.96x	8.4x	9.19x
FCF Yield	9.45%	11.18%	9.78%	8.98%