ULH 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	457.48M EUR	390.24M EUR	557.46M EUR	399.95M EUR
Enterprise Value	1.28B EUR	1.21B EUR	1.47B EUR	1.34B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	15.09x	--	--	--
Price to Sales	0.3x	0.26x	0.36x	0.34x
Price to Book	0.82x	0.7x	1.04x	0.74x
EV/Revenue	0.83x	0.79x	0.95x	1.14x
EV/EBITDA	7.25x	6.4x	7.06x	8.15x
Price to FCF (P/FCF)	14.19x	10.65x	--	--
EV/FCF	39.59x	32.97x	--	--
FCF Yield	7.05%	9.39%	-8.8%	-18.22%