FCR-UN.TO 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	4.88B EUR	4.92B EUR	4.38B EUR	4.02B EUR
Enterprise Value	9.09B EUR	8.98B EUR	8.36B EUR	7.95B EUR
Valuation Multiples
Trailing P/E	4.78x	5.09x	4.36x	4.03x
Forward P/E	17.02x	--	--	--
Price to Sales	6.6x	8.77x	7.89x	7.3x
Price to Book	1.01x	1.02x	0.9x	0.83x
EV/Revenue	12.29x	16.01x	15.06x	14.46x
EV/EBITDA	33.43x	33.42x	26.95x	25.52x
Price to FCF (P/FCF)	18.01x	38.52x	20.53x	15.02x
EV/FCF	33.51x	70.32x	39.17x	29.74x
FCF Yield	5.55%	2.6%	4.87%	6.66%