BIO 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	9.8B EUR	7.85B EUR	7.48B EUR	8.18B EUR
Enterprise Value	9.39B EUR	8.7B EUR	8.35B EUR	9.03B EUR
Valuation Multiples
Trailing P/E	46.41x	35.3x	44.3x	11.75x
Forward P/E	36.92x	--	--	--
Price to Sales	3.78x	3.03x	2.89x	4.09x
Price to Book	1.36x	1.09x	1.09x	1.1x
EV/Revenue	3.63x	3.36x	3.22x	4.52x
EV/EBITDA	21.29x	18.03x	17.43x	23.64x
Price to FCF (P/FCF)	34.6x	22.23x	20.94x	29.3x
EV/FCF	33.15x	24.65x	23.37x	32.37x
FCF Yield	2.89%	4.5%	4.78%	3.41%