SFM 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	6.07B EUR	7.93B EUR	7.29B EUR	7.64B EUR
Enterprise Value	8.04B EUR	9.81B EUR	9.1B EUR	9.33B EUR
Valuation Multiples
Trailing P/E	12.46x	15.76x	14.37x	22.24x
Forward P/E	10.94x	--	--	--
Price to Sales	0.67x	0.88x	0.82x	1.16x
Price to Book	4.16x	5.28x	5.09x	5.45x
EV/Revenue	0.89x	1.09x	1.02x	1.42x
EV/EBITDA	9.54x	9.76x	9.11x	13.33x
Price to FCF (P/FCF)	15.23x	22.22x	20.13x	33.5x
EV/FCF	20.16x	27.49x	25.13x	40.89x
FCF Yield	6.56%	4.5%	4.97%	2.98%