HAPV3.SA 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	4.22B EUR	4.85B EUR	4.8B EUR	6.99B EUR
Enterprise Value	12.16B EUR	19.39B EUR	19.82B EUR	21.57B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	8.07x	--	--	--
Price to Sales	0.13x	0.15x	0.15x	0.29x
Price to Book	0.09x	0.1x	0.1x	0.14x
EV/Revenue	0.38x	0.61x	0.62x	0.91x
EV/EBITDA	4.69x	4.02x	4.34x	6.68x
Price to FCF (P/FCF)	--	3.11x	2.61x	4.99x
EV/FCF	--	12.43x	10.79x	15.38x
FCF Yield	-12.2%	32.16%	38.3%	20.05%