ALL 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	58.01B EUR	60.44B EUR	53.45B EUR	54.15B EUR
Enterprise Value	62.08B EUR	67.09B EUR	60.25B EUR	60.96B EUR
Valuation Multiples
Trailing P/E	4.59x	4.54x	4.4x	5.59x
Forward P/E	8.18x	--	--	--
Price to Sales	0.83x	0.87x	0.79x	1.07x
Price to Book	1.84x	1.79x	1.69x	1.77x
EV/Revenue	0.89x	0.97x	0.89x	1.2x
EV/EBITDA	3.63x	--	--	--
Price to FCF (P/FCF)	3.83x	4.93x	4.64x	6.76x
EV/FCF	4.1x	5.48x	5.22x	7.61x
FCF Yield	26.13%	20.27%	21.57%	14.79%