SPXC 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	8.49B EUR	12.28B EUR	10.01B EUR	9.98B EUR
Enterprise Value	8.89B EUR	12.73B EUR	10.53B EUR	10.11B EUR
Valuation Multiples
Trailing P/E	29.89x	44.02x	39.61x	51.74x
Forward P/E	17.39x	--	--	--
Price to Sales	3.43x	4.96x	4.26x	5.6x
Price to Book	3.61x	5.23x	4.38x	4.46x
EV/Revenue	3.59x	5.14x	4.48x	5.67x
EV/EBITDA	17.04x	23.6x	20.68x	25.88x
Price to FCF (P/FCF)	36.27x	40.47x	37.11x	38.73x
EV/FCF	37.99x	41.95x	39.03x	39.26x
FCF Yield	2.76%	2.47%	2.69%	2.58%