TFC-PR Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	--	22.59B EUR	24.24B EUR
Enterprise Value	48.77B EUR	55.45B EUR	52.17B EUR
Valuation Multiples
Trailing P/E	3.75x	4.09x	4.57x
Forward P/E	--	--	--
Price to Sales	--	1.1x	1.19x
Price to Book	0.35x	0.35x	0.37x
EV/Revenue	2.56x	2.7x	2.57x
EV/EBITDA	--	--	--
Price to FCF (P/FCF)	--	3.98x	4.22x
EV/FCF	--	9.78x	9.09x
FCF Yield	--	25.11%	23.68%