CARR 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	46.15B EUR	60.52B EUR	46.82B EUR	44.18B EUR
Enterprise Value	57.4B EUR	71.57B EUR	58.02B EUR	54.88B EUR
Valuation Multiples
Trailing P/E	40.26x	49.6x	35.74x	41.21x
Forward P/E	16.85x	--	--	--
Price to Sales	2.09x	2.74x	2.14x	2.67x
Price to Book	3.49x	4.6x	3.48x	3.2x
EV/Revenue	2.6x	3.24x	2.65x	3.32x
EV/EBITDA	18.56x	23.24x	18.34x	21.38x
Price to FCF (P/FCF)	53.55x	31.39x	27.77x	25.97x
EV/FCF	66.61x	37.12x	34.41x	32.26x
FCF Yield	1.87%	3.19%	3.6%	3.85%