DK 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	4.56B EUR	3.11B EUR	2.76B EUR	1.77B EUR
Enterprise Value	7.73B EUR	5.74B EUR	5.39B EUR	4.45B EUR
Valuation Multiples
Trailing P/E	20.19x	13.85x	--	11.83x
Forward P/E	9.56x	--	--	--
Price to Sales	0.38x	0.26x	0.26x	0.22x
Price to Book	24.45x	16.67x	52.55x	6.19x
EV/Revenue	0.64x	0.48x	0.5x	0.55x
EV/EBITDA	7.27x	5.17x	7.2x	5.5x
Price to FCF (P/FCF)	9.18x	4.66x	5.95x	9.02x
EV/FCF	15.56x	8.6x	11.61x	22.67x
FCF Yield	10.89%	21.44%	16.82%	11.08%