MRVE3.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	4.4B EUR	2.97B EUR	4.43B EUR	4.38B EUR
Enterprise Value	9.66B EUR	11.18B EUR	12.36B EUR	12.73B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	6.33x	--	--	--
Price to Sales	0.38x	0.25x	0.39x	0.51x
Price to Book	0.96x	0.65x	0.85x	0.82x
EV/Revenue	0.83x	0.96x	1.08x	1.48x
EV/EBITDA	5.41x	9.27x	10.89x	13.94x
Price to FCF (P/FCF)	15.06x	6.36x	12.02x	10.67x
EV/FCF	33.03x	23.93x	33.54x	30.98x
FCF Yield	6.64%	15.72%	8.32%	9.37%