ELMRA.OL 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	5.12B EUR	5.08B EUR	3.85B EUR	4.2B EUR
Enterprise Value	6.36B EUR	6.2B EUR	5.79B EUR	6.17B EUR
Valuation Multiples
Trailing P/E	25.88x	25.24x	19.92x	39.29x
Forward P/E	15.04x	--	--	--
Price to Sales	0.32x	0.31x	0.26x	0.54x
Price to Book	4.11x	4.08x	2.69x	3.09x
EV/Revenue	0.39x	0.38x	0.39x	0.79x
EV/EBITDA	11.83x	7.96x	7.54x	11.91x
Price to FCF (P/FCF)	6.07x	9.29x	--	--
EV/FCF	7.54x	11.33x	--	--
FCF Yield	16.48%	10.76%	-16.08%	-19.15%