K.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	40.15B EUR	40.1B EUR	50.79B EUR	46.39B EUR
Enterprise Value	37.6B EUR	38.18B EUR	49.34B EUR	45.38B EUR
Valuation Multiples
Trailing P/E	9.3x	12.62x	17.73x	22.94x
Forward P/E	8.44x	--	--	--
Price to Sales	4.74x	4.73x	6.38x	8.35x
Price to Book	2.92x	4.15x	5.58x	5.41x
EV/Revenue	4.44x	4.51x	6.2x	8.17x
EV/EBITDA	6.98x	6.82x	9.58x	12.8x
Price to FCF (P/FCF)	13.41x	13.01x	16.74x	21.31x
EV/FCF	12.56x	12.39x	16.27x	20.85x
FCF Yield	7.46%	7.69%	5.97%	4.69%