NHC 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	3.56B EUR	3.31B EUR	2.49B EUR	2.13B EUR
Enterprise Value	3.35B EUR	3.3B EUR	2.45B EUR	2.12B EUR
Valuation Multiples
Trailing P/E	25.55x	23.6x	20.15x	24.26x
Forward P/E	528.16x	--	--	--
Price to Sales	2.28x	2.12x	1.63x	1.86x
Price to Book	3.17x	2.95x	2.28x	1.99x
EV/Revenue	2.15x	2.12x	1.6x	1.86x
EV/EBITDA	17.61x	16.56x	13.21x	15.23x
Price to FCF (P/FCF)	56.31x	22.59x	14.8x	18.44x
EV/FCF	53.09x	22.54x	14.53x	18.39x
FCF Yield	1.78%	4.43%	6.76%	5.42%